Business calls for adoption new Zimbabwe currency

Former Confederation of Zimbabwe Industries (CZI) President Mr Sifelani Jabangwe

HARARE – The Confederation of Zimbabwe Industries CZI has implored the private sector to be pro-active and come up with ways of increasing production as business seeks to reduce the trade deficit the country is faced with.

The CZI says the time is ripe for the country to transform its development agenda with the organisation’s upcoming annual congress set to provide a roadmap on Zimbabwe’s development trajectory.

Addressing journalists in Bulawayo on Friday, CZI President Mr Sifelani Jabangwe said it’s time for industry to move in and spearhead the development agenda as the environment is now conducive for business to thrive.

“We have an industrialisation framework that we have been working on that we will be unpacking at this congress. We have been working on studying some developed economies on how they have managed to be there.

“We believe the country has what it takes to reach the middle income economy by 2030. We are saying sector by sector should come on board and do what they can to improve this economy,” said Mr Jabangwe.

On the issue of the country adopting a local currency, Mr Jabangwe said business is in support of the adoption of Zimbabwe’s own currency when all the necessary conditions are met.

“We believe that when the conditions are right we need our own currency. Even if it means it’s introduced and trends alongside other currencies. We do not want it to be introduced and it loses value,” Mr Jabangwe said.

The CZI will be holding its annual congress in Bulawayo from the 26th to the 28th of this month which will be running under the theme: ‘From Dialogue to Implementation, Time to Act”.