Finance Minister confirms civil servants’ salaries...

Finance Minister confirms civil servants’ salaries in Zimbabwe Gold amid currency transition

Zim Now Writer

Finance Minister Professor Mthuli Ncube has shed light on the salary disbursements for civil servants amidst the introduction of the new currency, Zimbabwe Gold. His remarks come in the wake of the Reserve Bank of Zimbabwe’s recent announcement regarding the launch of ZiG, which is set to commence circulation at the end of the month.

Last Friday, the RBZ unveiled plans for the introduction of Zimbabwe Gold, although the physical notes and coins will only be made available for use starting from April 30th. The delay in ZiG’s availability has prompted some traders, transporters, and members of the public to reject Zimbabwe dollar notes, leading to disruptions in transactions.

In response, the central bank issued a statement reaffirming the legal tender status of the Zimbabwe dollar for all domestic transactions until the official launch of ZiG on April 30th.

However, Minister Ncube has clarified that despite the delayed availability of physical ZiG currency, electronic transactions utilising ZiG are already operational. He emphasised that civil servants will receive their salaries on time, with electronic payments scheduled to commence on April 18th.

“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,” Professor Mthuli Ncube clarified.

The Finance Minister’s reassurance aims to allay concerns regarding the timing and efficacy of ZiG amidst the ongoing currency transition. While physical ZiG notes and coins will be introduced later in the month, electronic payments in ZiG are already operational, ensuring timely salary disbursements for civil servants.