The RBZ began to release Zimbabwean Bond Coins on December 18, 2014. The coins are denominated at 1, 5, 10, and 25 cents and are pegged to the corresponding values in United States currency. A 50 cent Bond Coin was finally released in March 2015.

The coins  are said to be used as a remedy to lack of small change resulting from the absence of a solid seignior-age contract with the USA, South Africa or any of several other countries whose currencies, including the U.S dollar and the Euro are being used in the multi-currency regime that arose in 2009, when Zimbabwe abandoned its own currency in response to several cycles of hyperinflation. 

The country's economy being too frail and small to pay the interest which would come with a seignior-age contract, the country chose instead to implement a multi-currency environment based on the US dollar. However, this arrangement has meant a shortage of small change in coins.

Public reaction to the Bond Coins has been extremely skeptical, with widespread fear that they are the government's first step to reintroducing an unreliable Zimbabwean dollar. John Mangudya, the Governor of the Reserve Bank of Zimbabwe has denied that the Zimbabwean dollar is being reintroduced. 

With that said lets get to today's business. Boarded a kombi to work morning and paid with 1USD and was given a fifty cent bond coin only to realise it was fake and I thought of sharing the pictures and make you aware of whats happening around Harare.

the original bond coin on the left and the fake one on the right (Picture by Michelle Mulingo)

Was a bit worried that with the circulation of fake bond coins in the capital will we not see circulation of fake bond notes that are soon to be introduced.


https://www.newsday.co.zw/2016/05/10/bond-notesbond-coins-bond-james-bond-whatever/
http://www.thezimbabwean.co/2016/05/rbz-bond-notes-what-you-must-know/
https://www.dailynews.co.zw/articles/2014/12/06/rbz-unveils-bond-coins
https://www.thedailyvox.co.za/invisible-money-zimbabwes-new-bond-coins/
http://www.bbc.com/news/world-africa-30554000
http://www.reuters.com/article/us-zimbabwe-coins-idUSKBN0KH0DZ20150108

Why the new Bond notes won't work

Zimbabwe's government has announced plans to print "bond notes"  a type of cash that people can use for daily transactions.  However, many Zimbabweans are wary of the plan, seeing it as an attempt to reintroduce the worthless Zimbabwean dollar.

A man holding five billion dollars bearer cheques (Picture from Associated Press)

Am no Economist but I know these so called bond notes won't work for Zimbabwe. the first reason being that it is very unclear how  the backing works as the funds to back this introduction are in Egypt backed by a 200 million African Export-Import Bank facility.

Secondly this over perpetuated backing is  not said to be supported by real, its just the Reserve bank Governor John Magudya saying the loan is backed by 200 million from a bank in Egypt.  

Reserve Bank Governor John Magudya (Picture from the internet)

Thirdly, from my little knowledge the money that is backing the bond notes should be in the country so as to pay the bearer on demand. how do we pay the equivalent as it is so far away from the country.

Fourth, 200 million divided by the population of the country (almost 15 million) is equal to $13,33 before we even include the parastatals which also need a share from the 200 million facility. How will this 200 million be shared.

Fifth, how can a country known of debts be given such a facility? What or who is benefiting from this scheme. Well this is so saddening as I try to picture myself a mere student at Nust struggling to pay fees in all this mess. 

Given the history of the bearer cheques that once circulated in the country a few years back is evidence enough that this country does not need bond notes but a complete turn around from the top to the bottom for us the future to survive.

This makes me question the reasons for the chimurenga wars in Zimbabwe, is this what our grandparents were fighting for? If they wake up will they be happy with what we have done to their legacy? 

Let us join hands in providing a country that we  can all are proud to call our own. #ThisFlag.

https://www.newsday.co.zw/2016/05/23/mangudya-chinamasa-lied-bond-notes/
http://source.co.zw/2016/05/zims-bumpy-costly-road-to-a-cashless-future/

looking for fees money here is the solution

Many students out there are facing fees challenges, I for one am in that league but well am here to tell you that Maproblem ese disappear. follow the link bellow create your own account and start making money for yourself do not wait to be given be an entrepreneur, a risk taker an opportunity seeker and all will be well grab this opportunity and tell a friend.

http://payjob.xyz/?pay=QuenethM