Do Not Rely On RBZ For Forex, Source Your Own: Minister Bimha Tells Producer

Mike Bimha

Minister of Industry, Commerce and Enterprise Development Mike Bimha has advised producers to source their own foreign currency rather than to depend on the Reserve Bank of Zimbabwe (RBZ).

The central bank has been struggling to meet the foreign currency allocation requirements. Addressing the media on the prices of essential commodities, Bimha said:

We do have a problem of forex and the Reserve Bank of Zimbabwe is doing as much as it can to make it available to producers.

But at the end of the day it’s a lesson learnt; as we go forward we must not only rely on Reserve Bank of Zimbabwe to give us forex.

We must not solely rely on RBZ, we must generate forex, we must export, we must invest in agriculture; we must produce on a larger scale. Therefore if we do the right thing in terms of production we should be able on one hand to reduce our production costs

I have spoken to the RBZ governor and he has explained to me some of the facilities that they are trying to put in place to make sure that the much-needed forex is made available to the producers.

More: New Zimbabwe

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