Small-scale miners want SA rand

MINING suppliers are lobbying government to adopt the rand as South Africa was the country’s biggest trading partner, in its attempt to kick-start the economy.

BY ALEXIS SIBANDA

The Zimbabwe Miners’ Federation (ZMF) said this at a meeting in Bulawayo yesterday, where small-scale miners and suppliers mapped the way to “best restore the legacy of the mining sector”.

Tierra Chemicals sales executive, Edward Muchengeti said challenges in foreign currency have resulted in poor performance of the mining sector, as most of their products were imported.

“We need a paradigm shift where the South African rand can be adopted because South Africa is Zimbabwe’s biggest trading partner. Only then can the mining sector be restored to its former glory,” he said.

“Small-scale miners were once paid in foreign currency and buys from us using that money. But last year they started buying with bond notes and the company started having challenges in procuring stock from other countries.”

Midlands Metals sales and marketing manager, Itai Ziba said the government should recapitalise small-scale miners, so that they could buy their own machines and create employment.

A top government economist, Ashok Chavrakarti, last week urged the government to either formally adopt the rand or re-introduce the Zimbabwean dollar to ease the foreign currency and cash shortages.

4 Comments

  1. The ZAR is already part of the Zim multi currency basket the problem is the exchange rate which is currently in favour of the green back.Also the general population have been shunning it in past few years compared to the days when R100 would give you around US$13.

  2. @dyson chivasa dont be stubborn ugara kupi comment yako inotaura kuti u not a bussiness person ngatishandisei rand nekuti joza ndiyo biggest trading partner uchida us$ unoapplier kubank

    1. Ndinogara kuEpworth…… ko ndamboti handidi ZAR here ini?I just commented as to why I THINK (IN MY OPINION) the ZAR is not popular chete. Iwe kana une business urikutora ZAR ne RATE ipi since most goods in ZIM if not all are denominated in US$. Would love to come and buy from you coz boss vangu vanonditambirisa maZAR. Yes Iam not a business person, we cant all be can we? but I’m one of the few people who have always accepted to be paid in ZAR including coins. My point is we are already using the ZAR thats why u can deposit or withrdraw the ZAR using the US$ denominated account. I also said the ZAR is not being ‘loved’ coz of the rate most shops will tell you that your ZAR100 haitengi a lot pandaita stubborn ndiratidzewo maybe ndingazoitawo business person ndikasiya zvekudiridza malawn nekucheka hedge kumayard kwandoshanda uku saGardener.

  3. Comment…as long as government nominates all its transactions in USD its difficult for the rest of the population to use the Rand…. it starts with the government.

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