Zimbabweans have reacted differently to Bond Notes, introduced on the on Monday with some expressing fear that the move could be signal a return to the 2008 era when inflation reached a record high of 100 trillion percent.
In a survey conducted by 263Chat in the Central Business District of Harare, some members of the public castigated the government saying bond notes were not what the country needed at the moment as they could exacerbate the problems instead of being a solution.
A vendor who referred to herself as Amai Thulani had this to say, “This is bad news for our country. I foresee disaster in the not so distant future because this surrogate currency disguised as money will worsen our already precarious economic situation.”
She added that some retailers were not accepting bond notes which makes it difficult for her to also accept it.
Another business operator at Copacabana bus terminus who could not be named said they had problems accepting the bond notes in the morning as they had not received the features from RBZ to avoid counterfeits.
However, it was not all gloomy as some people embraced the new currency which they believe will go a long way in solving the liquidity crisis that had almost brought the economy to its knees.
Shop owners who spoke to 263Chat said they were accepting the bond notes with the belief that they stand to gain from improved sales.
“If someone bring the notes to me, I’m accepting because that’s the money we have to use, it is legal tender so who am I to turn it down. Besides, I think the bond notes will do more good than harm to the economy, “said Tendai who runs a cell phone repairing shop in the city.
His sentiments were echoed by Philip, a shop assistant at a Boutique who encouraged members of the public to embrace the new currency.
“I know a lot of people are panicking at the moment because they are afraid we are going back to the hyper-inflationary period similar to 2008, but I encourage them to make use of this money, it will solve most of our current problems,” he said.
A lot has been said about bond notes with some saying the newly introduced notes will result in fluctuation of prices of basic commodities. Unconfirmed reports circulating on social media claim that bond notes had crumbled in value and was trading at 2:1 to the US dollar.
It remains to be seen how the bond note will fare in an already congested multicurrency system and the next few days will be crucial as members of the public familiarizes with the new kid on the block.
