Zim’s medical aid industry embraces ZiG

AHFoZ's Chief Executive Officer, Ms Shylet Sanyanga
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Medical aid societies under the banner of the Association of Healthcare Funders of Zimbabwe (AHFoZ) are optimistic that the newly introduced ZiG will bring about price stability and economic growth.

This comes as the Reserve Bank of Zimbabwe took a significant step on April 5, 2024, by introducing the ZiG currency as a structured currency backed by gold.

Speaking during a Monetary Policy breakfast meeting, AHFoZ’s chief executive officer, Ms Shylet Sanyanga said the introduction of a gold-backed currency has reignited hope in the medical aid industry.

“We are optimistic that the new currency is going to assist the healthcare sector to be sustainable. Members of the public will be able to get good packages using the currency that they have at their disposal,” said Ms Sanyanga.

She also urged all healthcare stakeholders to accept the new currency, emphasising that its value is influenced by public perception.

“We cannot succeed as a country if we do not use our own currency or embrace it. I think we should give it a chance.”

The new currency comes at a time when private healthcare service providers had shifted to charging exclusively in US dollars due to speculation, thereby causing challenges for medical aid societies’ members.

“We are optimistic that our member societies can market their products, consumers will be able to choose and buy products using whatever they have at their disposal.”

Source: Herald