‘Why Spend US$200 million On bond notes Instead Of Buying Gold And Create US$1,5 billion?’- Jacob Mudenda,

The Speaker of Parliament Jacob Mudenda has broken rank with Zanu PF as he condemned the impeding introduction of controversial bond notes.

Mudenda criticized the move saying it was waste of money.

“I do not want to dwell on the bond notes issue but the $200 million from AfreximBank.

“I would have taken that money to buy gold and with that you can raise $1,5 billion. Why bring that $200 million to bring bond notes for export incentives when we can create $1,5 billion? Where are you as business to advise the Government? Anyway, Parliament is speaking now,” said Mudenda, drawing applause from the large business delegation that is attending the 2016 ZNCC annual congress.

However, in June president Robert Mugabe said those criticising the introduction of bond notes are either pushing certain political agendas or are ignorant.

He told the second meeting of the Zanu-PF Central Committee for this year that introduction of bond notes was coming as a solution to the cash crisis.

“We think those opposing them (bond notes) are really either politically doing so or doing so out of ignorance but we know it can work. So the issue of bond notes should be explained to our people, all the more so against disinformation which is being mounted by the opposition,” he said.

The Reserve Bank of Zimbabwe announced the introduction of bond notes in May.

It said the notes were expected to start circulating in October as the process takes four to five months. by Thobekile Zhou. source-byo24

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