Mangudya urges court to dismiss bond notes challenge

Reserve Bank of Zimbabwe governor, John Mangudya, has filed an application at the High Court to have the matter challenging the legality of bond notes dismissed.


John Mangudya
John Mangudya

Mangudya has been taken to court together with President Robert Mugabe and Finance minister Patrick Chinamasa by Combined Harare Residents’ Association director, Mfundo Mlilo, challenging the introduction of the bond notes and the law relating to the same.

In his founding affidavit, the central bank governor stated that the matter should be dismissed after Mlilo failed to file his answering affidavit in the required two-month period.

“The matter should be dismissed for want of prosecution, as clearly, there is absolutely no serious intention by Mlilo to bring the matter to finality,” the affidavit read.

Mangudya said Mlilo’s application had no prospects of success because his founding affidavit was fatally defective because it had no date.

He also submitted that Mlilo wasted time by filing an unfounded application and had consequently incurred unnecessary legal costs opposing an application, which he did not intend to fully prosecute.

Mlilo had earlier challenged the use of bond notes, saying they were worthless paper.

The Combined Harare Residents’ Association boss had also submitted that Mangudya’s actions were unlawful and unconstitutional to issue the bond notes without any cover or reserves, as required by a section of the Reserve Bank Act.

Mlilo had further submitted that circulating the bond notes was irrational and grossly unreasonably in that they would have parity with United States

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  1. Not worthy reporting…..newsday mataura chii ipapa?

  2. this is just about filling up the news at all.nothing informative

  3. Batsiranayi Ngugama

    if you are a journalist you know what is news and not news. Are bond notes a national catastrophe? People are suffering so much and businesses are dwindling. The US$ has disappeared in the market. NewsDay is right to report such a story. Newspaper pages are very expensive and no Editor will fill up pages with useless stories like rallies by spendforce recycled ministers’ utterances. Viva NewsDay.

  4. THis is news indeed. How can someone in a right frame of mind genuinely try to convince a Court that Bond Notes are good for the economy? Can someone throw this idiot off a nineteenth floor window please, we are fed up of his corruption and idiocy.

  5. k…. so wat now ???????????

  6. Ignatious Chombora

    this guy promised that he will rsign if the bond note does not end cash problems. why is he still there? now we are using goats as currency!

    1. Hope there are enough goats to go around otherwise we might be forced to use “Goat Notes” (guaranteed of course by the AFREXIM Bank).

  7. mangudya yo money has proved that its useless as a nation learn to do the will of the people

  8. Saka Traffic police yave kufudzawo mbudzi here?

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