Bulawayo residents ‘unaware’ of bond coins

By Staff Reporter

Bulawayo residents have professed ignorance at the new bond coins which started circulating today.

The coins, introduced by the Reserve Bank of Zimbabwe (RBZ), are meant to ease the problem of small change.

Most consumers were complaining that retailers were giving them sweets or pens as change, as they did not have coins.

A street survey conducted by 263Chat revealed that most people did not know about the coins.

“To be honest I do not know that such coins are now in circulation. At least now I will be on the lookout for them,” said Thelma Ncube, a resident from Entumbane.

Another resident, Mkhululi Sithole from Cowdray Park said it was his first time hearing about such a development.

“This shows that the Reserve Bank of Zimbabwe did not publicise these coins so that people would understand their purpose. If some of us who reside in the city do not know about these coins what more of those in the rural areas,” said Sithole.

Gladys Ndebele, said he was aware of the introduction of the coins but was skeptical of the reason behind their introduction.

“I heard that bond coins will start circulating in the country on 18 December and they are meant to solve the problem of change. However, I feel this is a subtle way of bringing back our local currency. Next time they will be announcing that they are introducing the 50 cent bond coin, followed by the one dollar bond coin and before we know it the whole currency will be on circulation,” Ndebele said.

Contacted for a comment, Bulawayo Public Transporters Association (BUPTA) official, Albert Ncube, said he was not aware of the existence of the bond coins.

“This is the first time I am hearing about them. Call me tomorrow maybe by then I will have an answer on whether as an association we will accept them,” he said.

RBZ Governor, Dr John Mangudya was quoted in The Herald refuting reports that the introduction of the coins signalled the return of the local currency.

“The bond coins which were minted outside Zimbabwe are to be anchored by a $50 million bond facility from Afreximbank.

“The coins will ease the problem of small change and eliminate the problem of rounding up of prices to a dollar where there is no option to buy more goods and ease the hassle commuter go through trying to break up a dollar to find change,” Dr Mangudya told The Herald.

The introduction of the bond coins has got support from the Bankers Association of Zimbabwe (BAZ) saying they will bring convenience to the public.