Businessman-cum-politician Joseph Makamba Busha has filed a High Court application against President Emmerson Mnangagwa seeking the urgent reversal of the re-introduction of the Zimbabwean dollar and the abandoning the multi-currency regime, introduced early this week.
Through the Statutory Instrument 142 of 2019, Finance minister, Professor Mthuli Ncube early this week announced the end of the multi-currency introduced in 2009 while introducing the Zimbabwean dollar.
However, the declaration has been met with widespread condemnation and scepticism from Zimbabweans who fear a return of the 2008 hyper-inflationary era.
Through his lawyer Tichawana Nyahuma, Busha sought to have the SI 142 of 2019 which gave birth to the Zimbabwe dollar reversed.
“The President should set aside SI 33 of 2019. He should act responsibly and be accountable for Zimbabweans. That instrument puts the United States Dollar at par with the RTGS dollar whereby it was noted the two currencies would trade 1:1,” he said.
Busha said Mnangagwa is delusional in making the nation believe that the same money which he does not believe in will resuscitate the economy.
“To show that the RTGS Dollar is useless, around March or April President Mnangagwa visited the Cyclone affected area of Chimanimani where he received a donation for victims and said the United States Dollar was the real currency and the RTGS Dollar, not a real currency.
“He made a mockery of the currency that he wants to legalise. We have served the notice to the President and Zanu (PF) to show them that the time to manipulate Zimbabweans is over,” Busha said.
“Mnangagwa scoffed at the bond note and said the US Dollar was real money during the time when cyclone Idai victims needed help,” he said.
Busha added that they will be monitoring the situation and will be waiting for Mnangagwa and team to take action in the next 10 days and respond to the court application.
He said delays in response will further sink the already fragile economy.
“We are in a crisis, Zimbabwe is an economic crisis, we are in a social crisis and now we need solutions to our problems,” he said.
However, Mnangagwa earlier in the week said SI 142 of 2019 will not be reversed as he believes the Zimbabwean dollar will be the pinnacle to economic revival.