Calls for bond notes vote

Pressure group #Tajamuka has urged Reserve Bank of Zimbabwe (RBZ) governor John Mangudya to ask President Robert Mugabe to call for a referendum before the planned introduction of bond notes.

Tajamuka - which is leading a spirited campaign against the introduction of bond notes - met Mangudya on Friday where it demanded that citizens be given an opportunity to vote on the bond notes.

"We rejected the RBZ plans to introduce bond notes. We told him [Mugabe] that if he is serious about the economic situation in Zimbabwe, he must subject the move to the people through a referendum or allow Parliament to debate and approve the bill," Tajamuka spokesperson, Promise Mkwananzi said.

"We know that Zanu PF stole our money and they want to bring the bond notes so that they can compensate for looted money through this illegal currency."

The meeting with Mangudya was part of a campaign by the central bank to promote the acceptance of bond notes by the people under the banner of promoting exports.

But Mkwananzi said Mangudya did not get Tajamuka's endorsement.

"We asked the governor to reveal to us who was printing the bond notes. We demanded that he shows us how much was being taken by Zanu PF cronies and top government officials because we are aware that the central bank is being used to loot our money to fund Zanu PF activities," Mkwananzi said.

The group alleges that the central bank failed to follow procedure in the issuance of bond notes which are set to be in circulation soon.

"We want the president to withdraw his purported promulgation of a law that seeks to legalise the introduction of the illegal bond notes. We also told Mangudya to order an audit into all State parastatals before introduction to find out how much money was being externalised. We will de-campaign these bond notes seriously and we assured the governor that Zimbabweans will not accept his illegal move" Mkwananzi said.

Zimbabweans across the political divide have been sceptical about bond notes with some — especially from the business sector raising fears that the introduction of the currency into circulation would cripple the economy.

But Mangudya has insistently defended his move, saying he seeks to incentivise exporters by paying them a 5% bonus through bond notes which would also help reduce the current cash crisis.