News / National
Zinasu protests ZiG devaluation
01 Oct 2024 at 09:04hrs | Views
The Zimbabwe National Students Union (Zinasu) has voiced its concerns over the rapid devaluation of the local currency, warning that it will exacerbate the already difficult conditions faced by students across the country's tertiary institutions.
The devaluation comes as university students have been rallying against steep tuition fee hikes amidst a harsh economic environment. The situation has worsened with the Zimbabwe Gold (ZiG) losing value, and retailers threatening to close due to pressure from the black market.
Zinasu Secretary-General Emmanuel Devine Nyakudya expressed concern over the impact of the devaluation on students' welfare. "The fact that the ZiG official rate jumped from 1:13 to 1:25 just days after civil servants were paid shows how quickly salary values are shrinking, which directly affects students and impedes access to education," Nyakudya told NewsDay.
Nyakudya explained that the 40% devaluation of the ZiG has made life harder for students and their families, with imports becoming more expensive and costs for goods and services, including educational materials and fees, rising significantly. This increase, he added, came without prior warning.
He emphasized the difficulty for families to afford necessities like textbooks and transportation, stating, "The devaluation has resulted in higher fees at educational institutions, often priced in foreign currencies like the US dollar, while our parents and working students are paid in devalued ZiG."
Nyakudya criticized the government's handling of the currency volatility, accusing authorities of allowing institutions to run payrolls at the previous bank rate before devaluing the currency, leaving budgets eroded by over 40%.
"Students are worried about which currency future budgets will be based on, and if the same mistakes are repeated in the name of patriotism, our education system will be left in disarray," he said.
Last year, students faced similar struggles as tuition and accommodation fees spiked, with many unable to access their results due to financial challenges. With the continued devaluation, students fear a repeat of the same scenario this year as fees and basic services become increasingly unaffordable.
The devaluation comes as university students have been rallying against steep tuition fee hikes amidst a harsh economic environment. The situation has worsened with the Zimbabwe Gold (ZiG) losing value, and retailers threatening to close due to pressure from the black market.
Zinasu Secretary-General Emmanuel Devine Nyakudya expressed concern over the impact of the devaluation on students' welfare. "The fact that the ZiG official rate jumped from 1:13 to 1:25 just days after civil servants were paid shows how quickly salary values are shrinking, which directly affects students and impedes access to education," Nyakudya told NewsDay.
Nyakudya explained that the 40% devaluation of the ZiG has made life harder for students and their families, with imports becoming more expensive and costs for goods and services, including educational materials and fees, rising significantly. This increase, he added, came without prior warning.
He emphasized the difficulty for families to afford necessities like textbooks and transportation, stating, "The devaluation has resulted in higher fees at educational institutions, often priced in foreign currencies like the US dollar, while our parents and working students are paid in devalued ZiG."
Nyakudya criticized the government's handling of the currency volatility, accusing authorities of allowing institutions to run payrolls at the previous bank rate before devaluing the currency, leaving budgets eroded by over 40%.
"Students are worried about which currency future budgets will be based on, and if the same mistakes are repeated in the name of patriotism, our education system will be left in disarray," he said.
Last year, students faced similar struggles as tuition and accommodation fees spiked, with many unable to access their results due to financial challenges. With the continued devaluation, students fear a repeat of the same scenario this year as fees and basic services become increasingly unaffordable.
Source - newsday
