Retired Army General and Vice President Constantino Chiwenga issued a stern warning to black market forex traders as the newly introduced currency, Zimbababwe Gold (ZiG) continues to crumble.
“If you woke up and decide to go to work, and your work involves selling of money, be warned that you will grow up crippled”, Chiwenga made chilling threats whilst officially opening the international business conference at the Zimbabwe International Trade Fair (ZITF) in Bulawayo recently.
The utterances by Chiwenga have caused backlash from civic pressure groups which perceive the combatant approach on forex traders as an attack on the poor and underprivileged.
Since the introduction of the new gold-backed currency, the government has cracked down on money changers “running down” the ZiG.
Over a hundred have been arrested and have appeared in court on allegations of contravening the Exchange Control Act, as police intensify its blitz.
Chiwenga said, “We are going to put strict measures to ensure that we protect our resources as a country.
Not even a single gram should leave this country, resources should benefit every citizen.
We are going to put measures, strict measures, that can see heads rolling.
Every gram of gold must be accounted for. We need our gold because it is God-given. No one came with gold to Zimbabwe, but it’s in our soil.
If we don’t want to mine it, it will stay there, but no one should touch it.”
“The new currency will, therefore, not be subject to exchange rate volatility or manipulation by speculators”, Chiwenga said.
Chiwenga and entourage should work on the fundamentals to revive the economy rather than the combatant attack on poor civilians seeking to eck a living from failed governance.
US $1 is being bought with between 20 to 23 ZiG on the parallel market whereas the official rate is just below ZiG 14 as to US $1.