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At the height of our financial hiatus in 2009, Zimbabwe adopted a multi-currency basket, effectively ending the conventional ownership and exclusive use of its own currency, the Zimbabwe dollar.

The multi-currency regime, which included the US dollar,rand, the British pound and pula, among others, was a policy measure to address the hyper-inflationary environment experienced between 2008 and 2009.

The multi-currency basket served its purpose, but we cannot use it forever. We need our own currency, albeit after practising due diligence and putting in place all fundamentals to sustain it.

One experience since 2009 is that with the passage of time, the United States dollar overtook all the other currencies to become the mostly used money in the country’s business dealings. 

Since then, a lot of harm has happened to the country’s economy, among it the distortion of prices in goods and services. Dealers have taken advantage and used the US$ to drive their selfish interests at the expense of the nation at large.

With the coming in of the new Government in August last year, a decision was made to tighten the fiscal space, deal with economic fundamentals such as money supply growth and unbudgeted spending, which in the past fuelled unnecessary expenditure.

In short, Government has brought the much needed financial discipline in its structures, and this is highly commendable. 

On Friday, President Mnangagwa announced that the country should expect the reintroduction of its own currency before the end of the year. We. however, cannot continue going forward without our own currency.

He also explained that the currency will be  printed by us supporting it through exports, Diaspora remittances or foreign investments. Therefore, that as a country it is critical to have our own currency, should not be in question.

The journey to the new currency, he said, had started and, indeed, it is a sign that the Government has given itself the mandate to do everything in its power to reintroduce the local currency, properly.

The Government needs the support of all and sundry, locally and internationally, but Zimbabweans themselves should be the major players. Attitude, attitude, attitude!

Zimbabweans in their broad totality should support the Government as it moves tenaciously to reintroduce the local currency that will be the pride of our nation, the centre and vital cog in driving the country’s economy into prosperity by 2030 as enshrined in the national vision.

It is not false that many bad things happening to our economy are because Zimbabwe does not have its own currency. Using another country’s currency is as good as hunting with a neighbour’s dog, it is too hard to control. 

But Zimbabweans must also understand what the reintroduction of the local currency means. Basically, it will no longer be permissible to transact using the US dollar or the pound or any other currency. We hope the Government will be gracious, honest and sincere in informing the nation about the finer details.

Our people who have been used to the chicanery of informal exchange of currency on the parallel market over the years and need to be taught the importance of formal money exchange channels. They need fiscal discipline. That is going to be our biggest dilemma.

Our people have been taught to hate everything local. Our people have learnt to be mainly informal. Our attitude and patriotism will be needed.

When fully supported by all citizens the introduction of the Zimbabwe dollar will be good for the country and its citizens. We just hope, all Zimbabweans will understand that it is their duty to support and use the new currency.