Don’t be complicated, be simplistic, Mthuli Ncube told
Senator for Harare Province Elias Mudzuri has urged Minister of Finance Mthuli Ncube to be simplistic in his currency reforms.
He said the ministry of finance should not come up with measures meant to cheat the elderly and those who do not comprehend certain academic terms.
Mudzuri’s call comes at a time when the government is planning to introduce gold coins. The coins will add to the basket of currencies that are legal tender.
Gold coins are expected to take the role of a store of value which was being played by US dollars.
However, speaking in the Senate Mudzuri said there was no need to be complicated as that might put people off.
‘’The common man cannot work on a gold coin which they are suggesting you will only get a certificate. You get a gold coin then you get a certificate. You move around with that certificate as money.
‘’You do not move with a coin like you do with your 25 cents; you move with a certificate with the number of your coins and the money is reserved in the bank.
‘’How do you expect someone out there to understand that this is their currency?
‘’Let us not be complicated, let us be simplistic and ensure that a currency is used as a method of transaction rather than a method of cheating our own elders and those who might not understand the academic meaning of certain terms,’’ he said.
Let’s continue asking Mthuli Ncube until he answers
Honourable Mudzuri added that Senate should continue asking Minister Mthuli Ncube until he answers on whether the country should continue using the local currency which has continued to lose value, or he is going to adopt something that will work for the common man.
‘’I had to complain first because I think some of these suggestions must be made to be understood by the Minister of Finance. We should continue asking him to answer this question on whether we are going to continue with runaway RTGs. Or we should suggest something that works for the common man,’’ he said.
