Business and TechnologyLocal News

Mthuli Ncube Discusses Civil Servants’ Salaries Post ZiG Currency Launch

Following the recent introduction of Zimbabwe’s new currency, ZiG, Finance Minister Mthuli Ncube has addressed concerns regarding civil servants’ salaries. This development comes amidst a wave of economic changes aimed at stabilizing the country’s financial landscape.

Insight into Civil Servants’ Concerns Over ZiG Currency

Civil servants, who form a significant portion of Zimbabwe’s workforce, have expressed apprehension about the impact of the new currency on their salaries. With inflation and economic uncertainty looming large, many are seeking clarity on how their earnings will be affected.

Also Read: ZiG will fail if it won’t buy fuel: Zimbabweans unconvinced about new currency

Ncube’s recent statements shed light on the government’s approach to addressing these concerns. Through a series of proactive measures, he aims to ensure that civil servants are not unduly burdened by the transition to ZiG.

During a question and answer session in the National Assembly on Wednesday, Member of Parliament for Emakhandeni-Luveve, Discent Bajila, sought clarification from Finance Minister Mthuli Ncube regarding the currency in which civil servants would be paid this month. This inquiry arose due to the RBZ’s statement about the availability of ZiG banknotes and coins at the end of the month. Civil servants are expected to begin receiving their salaries from the middle of April.

Professor Ncube stated that the Zimdollar component of civil servants’ salaries will be paid electronically in ZiG, but they will not be able to withdraw the physical cash until the end of the month.

“He is under the impression that ZiG will only begin to work at the end of the month, the 30th of April and yet civil servants will start receiving salaries from the middle of the month, about the 18th of April. I’m happy to say that his understanding is incorrect. ZiG is already effective and civil servants will be able to receive their salaries on time on the 18th of April. What the Reserve Bank mentioned was the issue of the availability of hard cash being available slightly later at least by the 30th of April that’s the issue. But in terms of electronic payments into their accounts, civil servants will be able to receive these by the 18th of April. Anytime because ZiG is already operational,” Professor Mthuli Ncube explained.

What Next For New ZiG Currency

As Zimbabwe navigates the complexities of introducing a new currency, stakeholders across various sectors are closely monitoring developments. Ncube’s proactive stance and commitment to transparency signal a concerted effort to address concerns and ensure a smooth transition for all.

While uncertainties may persist, Mthuli Ncube’s recent statements provide valuable insights into the government’s approach to managing civil servants’ salaries post the launch of ZiG. By fostering open communication and addressing challenges head-on, Zimbabwe aims to pave the way for a more stable and prosperous economic future.

Related Articles

Back to top button