Chiwenga talks tough over falling ZiG

Vice-President Constantino Chiwenga has announced that the government is closely monitoring financial markets to address the recent decline in the value of the local currency on the parallel market.

Over the past two decades, Zimbabwe's currency has faced significant depreciation, prompting the introduction of the gold-backed Zimbabwe Gold (ZiG) currency earlier this year to stabilize the economy and combat inflation.

Despite these efforts, some supermarkets and food outlets are reportedly using parallel market exchange rates for transactions in local currency.


Chiwenga, speaking at the burial of national hero Brigadier Shadreck Ndabambi at the National Heroes Acre in Harare, emphasized the government's commitment to strengthening and protecting the local currency. He assured that measures are being implemented to address arbitrage activities and promote the use of the Zimbabwe Gold.

Chiwenga stressed the importance of national sovereignty and independence, urging citizens to value and safeguard the hard-won freedom.

Brigadier Ndabambi, who passed away last week at his farm in Glendale, was remembered for his contributions to the country's independence.