Exposing economic saboteurs threatening Zimbabwe's future

THE introduction of the Zimbabwe Gold Currency (ZiG) symbolised a shift toward economic sovereignty, self-reliance and stability. Yet, instead of celebrating this monumental effort, some individuals within the country have chosen to manipulate this currency, destabilising the economy. Such actions are not just economic misdemeanours but acts of sabotage aimed at derailing Zimbabwe's progress.

These individuals, who manipulate the ZiG, should be seen for what they truly are: economic hitmen, akin to the destructive forces described by John Perkins in his book Confessions of an Economic Hitman. They work not in the interest of Zimbabwe but in favour of their selfish gains, pushing the nation to the brink of economic chaos.

In his book, Perkins paints a chilling picture of how economic hitmen undermine developing nations by exploiting economic vulnerabilities. This narrative resonates deeply in Zimbabwe today, where we witness a handful of individuals, driven by greed, undermine efforts to build a robust currency that could serve as a cornerstone of economic recovery. These manipulators are not just undermining the ZiG; they are actively attacking President Mnangagwa's vision of a self-reliant, developed and stable Zimbabwe.

The President's legacy, which should be defined by infrastructure development and a stable economy, is at risk, and those manipulating the ZiG are waging an economic war against him and the nation.

The manipulation of the ZiG is nothing less than an assault on the sovereignty of Zimbabwe. Every country that has embraced its national currency, from the US dollar to the Chinese yuan, has done so to safeguard its economic independence. The same principle applies to Zimbabwe and its gold-backed currency. The ZiG is meant to strengthen the economy by tying it to a valuable resource — gold —thereby stabilising its value and insulating the nation from external financial shocks. This currency is designed to protect Zimbabwean assets from inflation and provide a solid foundation for long-term economic growth.

Yet, instead of embracing this initiative, some economic actors have chosen to manipulate the currency, creating artificial scarcity, inflating prices and destabilising the entire system. Their actions undermine the potential benefits of the ZiG, create chaos in the financial markets and erode public confidence in the economy. In doing so, these manipulators act not only against the Government but against every Zimbabwean citizen striving for a better future.

One of the key challenges Zimbabwe faces is the negative perception of its currency. This perception, largely fuelled by speculators and those with vested interests in the failure of the ZiG, must be confronted head-on. Other nations proudly embrace their currencies as symbols of sovereignty and economic resilience. Zimbabweans must do the same with the ZiG. The narrative that the ZiG is unstable or doomed to fail must be replaced with one of confidence and optimism.

We must remember that Zimbabwe's future is tied to the success of this currency. The gold-backed currency has the potential to be a game-changer if managed correctly. Countries like Russia and China have been exploring ways to tie their currencies to gold and Zimbabwe is ahead of the curve in implementing this forward-thinking strategy. But for the ZiG to succeed, we need a change in mindset.

Zimbabweans must unite behind their currency, trust in its value and support efforts to strengthen it. Without this collective buy-in, the manipulators will continue to wield undue influence and the ZiG's full potential will never be realised.

President Mnangagwa's administration has prioritised infrastructure development, economic stabilisation and job creation. His vision is to leave behind a Zimbabwe that is economically self-reliant and a beacon of development in Africa. Unfortunately, those manipulating the ZiG are actively fighting against this vision. These individuals are not just economic opportunists; they are economic saboteurs who are sabotaging the President's legacy.

The fight against these manipulators is not just about protecting the ZiG; it is about defending Zimbabwe's future. The ZiG is one of the key pillars of President Mnangagwa's economic policy and by undermining it, these economic hitmen are attempting to derail his entire agenda. As citizens, we must stand with the President and support efforts to strengthen the ZiG. This currency is part of a broader strategy to develop infrastructure, create jobs and build a strong, self-reliant economy. Anyone who manipulates the currency for personal gain is undermining these efforts and working against the interests of the entire nation.

While the manipulators are clearly to blame, we must also recognise that the implementers of Zimbabwe's financial policies need to up their game. The Ministry of Finance, Economic Development and Investment Promotion and the Reserve Bank of Zimbabwe (RBZ) must be more proactive in identifying and stopping currency manipulation. The ZiG cannot succeed if it is constantly being undermined by speculators and opportunists. It is time for Zimbabwe's financial authorities to be tough, to clamp down on illegal currency trading and to enforce stringent regulations that protect the ZiG from exploitation.

Currency chaos cannot be allowed to degenerate further. The ZiG is a vital part of Zimbabwe's economic strategy and those responsible for its implementation must treat it as such. This is not just about managing a currency; it is about safeguarding Zimbabwe's economic future. The RBZ must act decisively and swiftly to protect the ZiG from manipulation and ensure that it serves the purpose for which it was created — to stabilise the economy and provide a solid foundation for growth.

The economic instability caused by currency manipulation is no longer just an economic issue; it is a national security threat. A weak economy undermines every aspect of Zimbabwean society, from education and healthcare to law enforcement and governance. The Government must recognise that those who manipulate the currency are not just hurting the economy; they are threatening national stability. As such, economic saboteurs should be treated as national security threats and dealt with accordingly.

Government must descend hard on these individuals, using all the tools at its disposal to root out corruption, clamp down on currency manipulation and restore confidence in the ZiG. If left unchecked, economic instability will breed social unrest, weaken national institutions and create fertile ground for further exploitation by economic hitmen.

It's now clear that Zimbabwe stands at a crossroads. On one hand, it has the potential to achieve economic sovereignty and stability through the Zimbabwe Gold Currency (ZiG). On the other hand, a small group of economic saboteurs is working tirelessly to undermine this vision. These individuals are not just opportunists; they are economic hitmen, much like those described by John Perkins, who act against the interests of the nation for personal gain. It is time for Zimbabwe to embrace its currency, change its mindset and stand united in the fight for economic independence. Government, financial authorities and citizens must work together to protect the ZiG, safeguard the economy and ensure that Zimbabwe's future is secure.