'ZiG scarcity a recipe for disaster'

Opposition party Labour Economists and Afrikan Democrats (LEAD) has raised concerns about the scarcity and lack of confidence surrounding Zimbabwe's newly introduced currency, the Zimbabwe Gold (ZiG). Introduced on April 5, 2024, ZiG replaced the severely devalued Zimbabwe dollar, which had lost 80% of its value against the US dollar on the official market.

LEAD, represented by national secretary Sarathiel Samkange, criticized the non-availability of ZiG, stating it inconveniences the public and exacerbates poverty. Samkange highlighted that many Zimbabweans, especially in rural areas, have not encountered ZiG and continue to rely on foreign currencies like the South African Rand and US dollar for transactions.

The opposition party expressed disillusionment with the government's portrayal of currency stability, asserting that ZiG's failure to circulate widely reflects broader economic challenges. LEAD called on the government to take immediate steps to address the crisis, including increasing ZiG circulation in rural areas, implementing confidence-building policies, and launching educational campaigns to familiarize citizens with the new currency.

In closing, LEAD extended a message of solidarity to Zimbabweans, urging collective action to demand better governance and promising to work towards a more stable and prosperous economic future.