HomeLocal NewsWe won't disclose where bond notes are printed: Mnangagwa

We won’t disclose where bond notes are printed: Mnangagwa

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VICE-PRESIDENT Emmerson Mnangagwa yesterday refused to disclose to Parliament where bond notes are being printed, telling MPs to speculate if they want to.

BY VENERANDA LANGA

Mnangagwa was responding to a question in the National Assembly from Binga North MP, Prince Dubeko Sibanda (MDC-T), who wanted to know if the government would not end up printing bond notes in excess of the $200 million Afrexim Bank facility.

Mnangagwa also told opposition legislators that anyone who was not comfortable with the bond notes was free to use any currency of their choice.

“MPs should not be worried because government will restrict itself to the amount of bond notes anchored on the $200 million facility,” he said.

“Those of us who feel uncomfortable using bond notes should continue using the United States dollar because bond notes and US dollars are interchangeable. If you have no faith in bond notes, why not continue using the currency that you have faith in?”

Chitungwiza North MP, Godfrey Sithole (MDC-T) then claimed that the bond notes, released into the market, were different from the Reserve Bank of Zimbabwe (RBZ) specimens advertised in newspapers.

Mabvuku-Tafara MP James Maridadi (MDC-T) said Mnangagwa should explain why the $200 million loan facility anchoring the bond notes was not first brought for Parliament’s approval, as required by the Public Finance Management Act.

Mnangagwa said whenever the RBZ governor deals with monetary policy issues, he has legal authority to transact with other central banks in the world for the benefit of the country.

Finance minister Patrick Chinamasa further explained to the House, that the legal framework for the issuing of bond notes was in place in the form of Presidential Powers and the RBZ Amendment Act.

Unimpressed, opposition MPs queried the rationale of conducting public hearings when the bond notes were already in circulation.

But Speaker of the National Assembly Jacob Mudenda said the surrogate currency was already in circulation courtesy of the Presidential Powers, which would expire in six months and the RBZ Act would then give them permanency.

Zanu PF chief whip, Lovemore Matuke then asked Chinamasa when banks would be issued with more bond notes, claiming people were clamouring for more, to which the Finance minister said the limit was to curb inflation. He said the government would punish shops found rejecting the bond notes.

Meanwhile, President Robert Mugabe’s address to the nation has been postponed to next week Tuesday because he is away in Cuba attending the funeral of the late Cuban President Fidel Castro.

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52 COMMENTS

  1. This is one of the reasons I am refusing bond notes. These people are taking the populace for granted. Mnangagwa is very clear – they don’t need the trust of the populace and they don’t care. The one thing Zimbabwe needs now is building TRUST and TRANSPARENCY is one of the building blocks

  2. do you need to know where you toilet paper is printed…infact i think they should ask fidelity printer to print them…coz kutotambisa mari getting import toilet paper…kana kutopa contract ku herald yowaprinter hayo…

  3. WE HAVE EVERY RIGHT TO KNOW WHERE THIS TOILET PAPER IS PRINTED YOU MR CROCO ARE STUPID TAKING PEOPLE FOR GRANTED YOU ARE USING MY TAX MONEY NOT MUGABE,S MONEY.

  4. I happen to belong to the generation Takazvarwa Takadaro, just want to ask when Bob and his torroristi were fighting Ian Douglas Smith were they involved in acts of economic sabotage and at what extent.Why is it that the present day oppositions are so particular about attacking the country’s economy

  5. Tendai Chaminuka uri dofo. Hapana Hondo inohwinwa pasina sabotage. Kubhomba BP Shell kwaiitwa mazuva ehondo nekubhombazve mabridges was sabotage. You have to incapacitate your enemy if you want to win a war. The only difference is that our opposition are not using guns, which I think will come into play very soon if some people keep on dreaming that they own us.

    • @ Wezhira ko tatukana here kana kuti ipfungwa dzasiyana.Have u wondered why South Africa’s trade unions especially COSATU was so against the Zimbabwean government.Where there fighting for democracy or they wanted to fuel tension so that most industries close and we become a retail country as we are now, which is to the benefit of S.A populace because all the jobs will go to them

  6. Why should it be kept a secret?Emmerson you think if you tell us where the bond papers disguised as notes are being printed ,some naughty robbers might come and rob you of the useless papers?Its not surprising to some of us,when dictators are cornered,they become very vicious and unreasonable.Or maybe they are being churned out at Gushungo Holdings?We will not stop speculating Dambudzo because thas how tyou have been running or ruining our beautiful country for the past 36 years,but your day of reckoning is near.

  7. Interesting part is that the Bondnotes did not solve anything, Cash limits are still there, how can a Family Survive on $150.00 a week, Zimbabweans we were indoctrinated by the Roman Catholic to obey much than if we were indoctrinated the Muslim way, Plastic Money with the bank charges is very expensive and we are being made poor by their own created banks to enrich them, we are busy pointing to the wrong things instead of telling them straight. you cant Swipe for a loaf of Bread alone because of the Charge, anything bellow $100.00 is expensive. 1c difference is a big margin 10 Transactions a month will cost you more than $28.00 a month which is equivalence of a month Supply of Bread. We are not yet at the level of our Politicians who are earning large Sums of Money to be able to meet those expenses

  8. zvakaoma hanzi hatikuuedzei kuita kunge ari kutonga kumba kwake shuwa. They take advantage of us because we are sevaliced people. Let them say what they want to say but only one day everything will come to an end. Who knew that one day Fidel will die and he had ruled for 49years but it ended same with all these Zimbabwean Dictator leaders of us. Maity varungu manje vaitove nane nekuty vanga vasiri veganda redu manje vedu ava munenya navo. kkkkkkkkkkkk seka hako chero tadya tikavata so long life mhani

  9. That’s exactly why I don’t think Sis Emmer Mnangagwa is not presidential material. He is not the prez yet, but he is so arrogant. Whenever he answers opposition questions, he does so with reeking arrogance and disdain. I really wonder if he is really a lawyer, he is such a poor orator. A wise leader would answer in a way that will retain respect for both the questioner and observer. Something like, ”we would love to tell everything possible, but for security reasons some information is too sensitive at this juncture”. Mnangagwa please be serious if you want to be taken seriously.

    • Exactly my observation! Just watch/listen to the video clip done in Chiredzi when he was addressing a rally. The one with “Ukarota Zanu yadyiwa mumaelections, muka ubike doro uti vadzimu mandirasirei…Zanu icharamba ichingotonga, ichingotonga, ichingotonga.. Pasi nemhanhu pasi nemhanduuuuu-u-u-u!… Pamberi navaMugabe, pamberi navaMugabeeee-e-e”. It shows you how drunk with power the guy is, so arrogant, feels so aloof and untouchable. Zilch on leadership quality. He is so easily excitable.. Gudo guru peta muswe vadiki vakutye. His purported silence is not even silence at all. Give him a mic and a crowd then you know what kind of person he is.

  10. Below statements were made by By Mngagagwa and thy are contracdicting @Mnagagwa “Those of us who feel uncomfortable using bond notes should continue using the United States dollar because bond notes and US dollars are interchangeable. If you have no faith in bond notes, why not continue using the currency that you have faith in?” Zanu PF chief whip, Lovemore Matuke then asked Chinamasa when banks would be issued with more bond notes, claiming people were clamouring for more, to which the Finance minister said the limit was to curb inflation. He said the government would punish shops found rejecting the bond notes.

  11. Mr Chinamasa your statements are so contradictory on other hand u said no one is being forced to accept bond notes and can u tell us the reason why would u want to sue shops who are refusing bond notes, i don’t think so u deserve this financial ministry, that’s why all the time u go out to berg for money u come back with nothing, ‘machembera baba chiendai munorima nzungu kwaRusape uko.

  12. The current status quo shows a government that does not care about the people at all, if you hear anyone supporting this situation they are benefiting from it. This situation is a creation of the government and the banks at large. They are clammering for people to accept the bond note as it is supposed to be the same as the US$ but you enter the bank you are told to write two different withdrawal slips, some gvt departments are even issuing a different receipt for bond note and usd payments. Apart from this when the cash crisis intensified banks increased cash withdrawal charges supposedly to discourage cash, but you noticed that plastic is not working at all people are forced to withdraw at a higher cost, banks are making more money out of this whole crisis at the cost of the Zimbabwean. This is day light robbery.

  13. Kkkkwaaaa. Mnangagwa says:
    “…that anyone who was not comfortable with the bond notes was free to use any currency of their choice”
    Chinamasa says:
    “…the government would punish shops found rejecting the bond notes”

    Does that make any sense??? These guys ngavamboita serious but.
    Mnangagwa is saying one thing and Chinamasa is saying the opposite. No wonder why their policies are inconsistent and driving away investors.

  14. kungotaura kwamurikuita apa hakuna basa… they is this great mathematician who said….. will you refuse to eat you supper because you don’t know how the process of digestion goes….. no you will die of hunger…. zvekuti rakaprintwa kupi zvekuti how is it valued 1 is to 1 ne US handina BASA NAZVO AS LONG AS richishanda zvandinoda ….. seku payer mabills angu nekutenga my mounthly expenses I am okay…. ko hanti ndinoshanda muno ndichitenga muno koo zvekuti US this US that ndinei nazvo…. iwe unoda kufungira vanema Business kuti vachanohodha sei ndiwe Business person wacho here…. they know how to transect they know how they should get forex to stock up there shop pataishandisa Zim dollar kuma 1990s waimbobvunza here madzimai aienda kusouth kunohodha kuti zvino Rand munoriwanepi….. nhasi waverenga kabepa kana kapost paWhatsapp kana twitter mavekuzviita munoziva streki… siyanai nenyaya yekuzvifonera…

  15. Where there were printed it does not matter. A bond is a bond. Whether its printed in hell or in Mbare, a bond is a bond it will never change to be a genuine currency currency.

  16. We can not even access the 50dollars withdrawal from cabs bank fourth street every time i go there am told that we have run-out of cash you begin to wonder if this problem going to end or it is the bank manager who does not know how much he request from RBZ to meet the demand of his clients.we tried to ask him questions by hey he seems confused such are the bank managers who leaves a lot to be desired.

  17. Let’s not demonstrate ignorance on national issues here. It really matters to know who the government give business. Do you know that the US Congress and Senate are very much interested in knowing where American money goes by way of business? Through ZIDERA they will not allow their companies to trade or do business with Zimbabwe. If they do, there are caps and limits to what they can do. They have what they call “friendly” and unfriendly” countries. So the MP’s question on “where” Zim business is going is very pertinent. That’s your and my money doing that. Haisi yaVP-ka. Parliament is the best place to ask those questions. Dai vakabvunzana muroad, Emmerson’s response would have been justified on the basis of the official secrets act. Let’s just say Ngwena iri arrogant, full stop!!

  18. Bond note Saga… i am inspired by this article to share my thoughts:
    So-and-so had a pressing need to defecate (that is to crap) and decided to do it on That guy’s head while he was fast asleep on his bed,
    asked to comment on this,
    zimbo 1 says: that act is in principle and practice unacceptable!
    zimbo 2 says: you need to understand, it was absolutely necessary that so-and-so defecate!
    zimbo 3 says: i’m not sure but i think That guy’s head needed to be crapped on for some reason, maybe.
    zimbo 4 says: why didn’t That guy move his head?
    zimbo 5 says: what’s the fuss? it’s only crap. it does not kill!
    zimbo 6 says: if That guy didn’t want to be crapped on he should have taken his bed and his head elsewhere! when a man has to crap, he has to crap- anywhere, anytime!
    zimbo 7 says: did so-and-so crap on the whole head, or just a small part?

    this is how i view our expressed opinions, like what Jabulani Sibanda once said…”shadow-boxing in the dark”. so-and-so are the powers that be. we are That guy. we are also the zimbos.
    enjoy your day.

  19. @ndozvitaura & willard. yo mind set are far far away from nation building, ukuti as long as i can pay my bills uchiri kumapayer and buy groceries coz zvichirimo ndosaka paine projection in mind and budget hatimirire hupfu kupera mumba tozotenga we must kno wats happening and we blame sanctions tiichidai guys.

  20. Mnangagwa also told opposition legislators that anyone who was not comfortable with the bond notes was free to use any currency of their choice
    Chinamasa said the government would punish shops found rejecting the bond notes.

    Somebody must have taken their weed beyond the standard.

  21. The bond notes were printed in China by the Zhing Zhongs!! Anyone can see the poor quality of the notes, we are now officially a Chinese colony

  22. ndirikuona zvangu ndakagara kuma terraces. well done Mangudya for introducing the bond notes,now wait and see the effects.

  23. Here bond paper bond rubish michanyarara zvese zvekubhidhaira izvo tokuonai homwe dzizere nawo mabond tissue acho iwayo.Musingade m uchida bond note pfeee tapinda tapinda..Come 2018 tinopedzerana kudii ?Since when 1999 same words always but ngoma ndiyo ndiyo kuruza chete.Endai kumisha mundoroya machemberawo futi vana Chmbwa Mundiro(chinja) Here zvinoitwa neZanu PF zvchapera,ko iwe zvako hazviperiwo nokuti ndiwe chii?Viva Ngwena

  24. I personally don’t feel there is any need for these bond notes. Firstly we should realize that banks have been charging hefty amounts to depositors without payinginterst on deposits
    They were also charging very high rates on borrowings. As a result there has been a run on banks resulting in cash shortages. We have enough cash in private hands .

  25. Zimbabweans i bwende dzevanhu…kusiya Mugabe and his team vachiita zvavanoda nemari dzevanhu…..why not protest until the zanu pf devils surrender????? Zimbos are just useless learned assholes …..they fear to be beaten by police as if the police will beat everyone..

    I am happy to be zambian again and renounce my Zimbo citizenship

  26. In a transparent democratic society people should be told where they are being printered after all they have been imposed on them and here these bigwigs infront of the international community they are saying they are transparent and democratic

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