Zimbabweans give Chinese Yuan thumbs down

Chinese yuan 1From MARCUS MUSHONGA in Harare, Zimbabwe

HARARE, (CAJ News) – SOME Zimbabweans have disapproved plans by the government to adopt the Chinese currency starting in January.

The Southern African country would use the Yuan, it was announced recently, after the Asian global economic powerhouse confirmed it would cancel $40 million in debts.

The Chinese currency would be the latest foreign currency to be approved for day-to-day transactions after the South African Rand and American Dollar among other currencies.

In a snap survey by CAJ News Africa in the major cities of Bulawayo and Harare, some members of the public objected to the adoption of the Yuan.

“This is an act of sabotage by Zanu PF!  It does not necessarily mean if China is giving hefty soft loans to the country Zimbabwe must adopt the Chinese currency. We condemn this act in strongest terms, and we will hold the Zanu PF government liable to their actions if it loses power in 2017,”said Munashe Zimuto of Houghton in the capital city Harare.

Julius Negovano of Hatfield shared similar sentiments.

“This is a violation of the people’s trust to government. We all know that the ZANU (PF) government has stolen the elections, but to make matters worse, the same illegitimate government is forcing the nation to adopt the Chinese Yuan,” charged Negovano.

Critics have over the years accused President Robert Mugabe’s governing ZANU (PF) party of electoral fraud.In Bulawayo, the country’s second largest city, vendors also condemned theproposed use of Yuan in Zimbabwe saying the ruling ZANU PF had run out of ideas.With the incessant company closures over the years, vending is a source oflivelihood to a majority of Zimbabweans.

“The adoption of the Yuan is desperation at its worst form! Of all the currencies under the sun, we cannot be seen using the Chinese Yuan,”Nomagugu Ndebele, a vendor at Makokoba, the oldest suburb in the city said.Ndabeni Mlotshwa of Cowdry Park also disapproved the use of the Asian country’s currency.

“These ZANU (PF) leaders under President Mugabe have completely run bankrupt of ideas. They now want to kill the economy first before they die,” he claimed.

He said the adoption of the Yuan was one part of a series of political and economic problems currently bedeviling the country.

“Worse still, Mugabe is trying to impose his wife Grace to be president at the expense of deserving politicians with credentials. Grace does not have war credentials or the capacity,” Mlotshwa fumed.

Zimbabwe abandoned its own currency, the Dollar, in 2009 afterhyperinflation, which had peaked at around 79,6 billion percent, at official rates, rendered it unusable.

CAJ News

Short URL: http://cajnewsafrica.com/?p=10711

Posted by on Dec 31 2015. Filed under Africa & World, Exclusive, Featured, Finance, Finance & Banking, Investing, National, News, Regional. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

CAJ News Sponsored Links

Commonwealth Technology Organisation

Connect to CAJ News on Facebook

Subscribe to our Newsletter

Photo Gallery

Log in
All material © CAJ News Africa. Material may not be published or reproduced in any form without prior written permission.