Zimbabwe Gold Currency: President ED Mnangagwa speaks out

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Sustainable economic development can only be achieved through the use of a local currency which will stimulate economic growth and guarantee stability, President Mnangagwa has said.

This follows last week’s introduction of the gold and other precious minerals-backed ZiG currency by the Reserve Bank of Zimbabwe (RBZ).

Addressing the 374th Session of the Politburo at the Zanu-PF headquarters in Harare yesterday, President Mnangagwa, who is also the ruling party’s First Secretary, said Zimbabweans must embrace and defend the new currency, safeguarding it against machinations of the country’s detractors.

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“This meeting is being held a few days following the unprecedented opening of the national vaults and subsequent launch of our new Zimbabwe Gold currency, which is one of the ongoing measures to foster economic stability and stimulate growth,” said President Mnangagwa.

He called upon Politburo and senior party members to instil confidence among the people in understanding the transformational policies and the new currency.

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“Meanwhile, programmes and activities to educate and raise awareness among the public, including those led by the private sector, the Church and community-based organisations, towards embracing our currency must be supported. In our case, sustainable socio-economic development, independence and sovereignty can only be realised through the use of our local currency.

“While the enemy constantly attacks our economy, work must be done to safeguard and defend communities from the falsehoods and neo-imperial machinations being peddled by our country’s detractors, both from within and outside the country.

We must, therefore, sharpen our scientific and revolutionary ideas and strategic understanding towards accelerating the realisation of Vision 2030,” said President Mnangagwa.

The President charged senior leaders in the revolutionary party to provide leadership on the economic front, permeating messages to the lowest structures.

“The party membership must be active and visible in economic activities in our efforts to grow district and provincial GDPs. Party meetings from cell/village to provincial levels should now reflect this orientation. In this regard, the relevant economic related departments are also directed to accordingly shift their paradigm and give the requisite intellectual support to the leagues of the party.

“No one, but us in Zanu-PF and the people of Zimbabwe, will deliver on the key aspects of our nation’s political, social and economic development. Our future as a colossal, mass revolutionary party and that of our Government and country is impacted by our decisions and actions. This weighty obligation should never be taken lightly. Nyika inovakwa, inotongwa, inonamatigwa nevene vayo/ Ilizwe lakhiwa, libuswe, likhulekelwe ngabanikazi balo,” said President Mnangagwa.

He added that Zanu-PF is the only party that can improve people’s lives and livelihoods.

Relatedly, the President said party members must at all times maintain the requisite discipline, loyalty and focus towards not only defending the country’s independence, freedom and empowerment, but also improving the quality of life of every Zimbabwean, leaving no one and no place behind.

“At this stage of our revolution and the country’s development, leaders and the structures of the party must be equal to the task.”

The party, he said, should re-calibrate its revolutionary, ideological and moral compass to rise above present and future challenges.

“Party members and particularly officials and those in leadership, have a duty to unflinchingly uphold the correct party line, at all times, both in public and private.

“The supremacy of our party constitution and the integral values of unity, patriotism and hard honest work should continue to be entrenched across the rank and file of the party. We cannot slacken in this regard,” said President Mnangagwa.

Zimbabwe has been under baneful illegal economic sanctions for the past 24 years and the President said there is no room in the ruling party to be preoccupied by trivialities, both internal and external.

“The Second Republic, is about production, production, production, with economic activities taking precedence over politics. We received a fresh mandate from the electorate during the 2023 Harmonised General Elections, which were held less than 12 months ago. I challenge us to introspect, as the party leadership, and remain focused towards accelerating the national development agenda,” he said.

Petty squabbles, jealousies and a misplaced sense of entitlement, he said, were not acceptable.

“We are not a party about positions; we are about progress, prosperity, unity, peace and development for all the people of Zimbabwe, no matter where they live or their social standing,” said President Mnangagwa.

Ahead of next week’s Independence commemorations in Murambinda, Manicaland Province and the 64th edition of the Zimbabwe International Trade Fair (ZITF) in Bulawayo, end of the month, President Mnangagwa said the party leadership must play its part to ensure the two events are a resounding success.

This year’s edition of the ZITF will be officially opened by Kenya President Dr William Ruto, to consolidate the long-standing fraternal relations between Zimbabwe and Kenya.

In light of the climate change-induced drought, the President said there was need to work harder to consolidate the country’s achievements and confront obstacles head-on and with confidence.

“The hearts and minds of our people will be won when we are solid and united in support of our Zanu-PF policies, programmes and projects.

Let us always give communities hope by leading from the front. There is no room for complacency,” he said.

He challenged the Zanu-PF Commissariat Department, the Leagues of the party, including affiliate organisations, to do more with regards to grassroots mobilisation and educating the people on the current state of affairs within the party and the nation at large.

“Let us carry on to welcome more new members into Zanu-PF from across the socio-economic and political divide and educate them on what we stand for, as a party, and the ongoing people-centred policies and projects,” he said.

The President said although he recently declared a nationwide State of Disaster, due to the climate change-induced drought, his Government is scaling up programmes to revitalise, modernise and climate proof the critical agriculture sector, noting that the mining, manufacturing, tourism, infrastructure and energy sectors, among others, are on an upward trajectory.


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