Story by Stanley James, Business Editor
THE Reserve Bank of Zimbabwe (RBZ) has pledged to ensure systems are in place to maintain the value of the Zimbabwe Gold (ZiG) currency.
It emerged during the Institute of Chartered Accountants 2024 Winter School in Victoria Falls that the stability being experienced in the economy has made it easier for industry and commerce to compile financial statements.
An interaction with the central bank saw accountants seeking assurances on the maintenance of the current stability for the benefit of Zimbabweans.
RBZ Deputy Governor Dr Innocent Matshe reaffirmed commitment to the current stability gains.
“We reaffirm our commitment to the growth of this economy by ensuring that the current stability gains are consolidated, so let me assure everyone that the current stability gains will continue,” he said.
The banking sector revealed increased demand for the newly introduced structured currency riding on stability, amid expectations of an improvement on overall savings for the domestic currency.
“In terms of savings, there is a gradual improvement which we believe shall translate into overall growth of the banking sector riding on the stability of the Zimbabwe Gold,” said ZB Financial Holdings Limited, Group Chief Executive Officer, Dr Shepherd Fungura.
Stability is being cited by industry and commerce as an important element towards effective business planning, accurate financial statements, and overall economic growth.
