The bond note could indeed mark the return of a stronger Zimbabwe dollar


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Eight years ago, members of the Zion Christian Church led by Bishop Nehemiah Mutendi prophesised that once their mammoth temple, which was built at their headquarters at Mbungo, was completed, the Zimbabwe dollar would be back and would be stronger than the regional currencies.

The Zimbabwe dollar had not yet been abandoned but had been trashed and was worthless.

The bond note, which has all the hallmarks of a local currency, is trading at one to one with the United States dollar, though there are concerted efforts to trash it.

Mashakada could therefore be right. The Zimbabwe dollar might be on its way back, but it will be stronger than or will compete with the regional currencies which some, including MDC-T leader Tsvangirai, say Zimbabwe must adopt.

Ed: The writer is a member of the Zion Christian Church but wrote about the return of the Zimbabwe dollar in the Financial Gazette which he once worked for more than seven years ago.

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The Insider

The Insider is a political and business bulletin about Zimbabwe, edited by Charles Rukuni. Founded in 1990, it was a printed 12-page subscription only newsletter until 2003 when Zimbabwe's hyper-inflation made it impossible to continue printing.

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