Zimbabwe business tycoon and ZIFA boss Phillip Chiyangwa has made a u-turn on bond notes.

This comes few days after a local paper ran a story in which Chiyangwa is said to have condemned bond notes as bad currency.

After coming under pressure over his comments, Chiyangwa ‘changed his story’ and told state media that he had been misquoted, adding that bond notes are emerging as a perfect solution to problems that have been bedeviling Zimbabwe’s economy.

Chiyangwa further stated the need for the public and traders to desist from the culture of holding onto hard cash so as to guard against artificial cash shortages.

Chiyangwa said the acceptance shown by all sectors of the economy are an indication that bond notes introduction is yielding fruit