Civil servants to be paid in ZiG, Ncube

Finance and Investment Promotion Minister Mthuli says civil servants will get their Zimdollar component pay in Zimbabwe Gold (ZiG) currency.

Ncube disclosed this in parliament yesterday while answering to a question by Emakhandeni-Luveve legislator Discent Bajila on civil servant salaries after ZiG announcement.

“Salaries (ZWL component) will be paid electronically in ZiG, as it is already in effect. Bank notes to follow, as announced by RBZ,” said Ncube.

He confirmed that there will be no cash on payday, but only an increase in bank balances leading to mobile transactions.

In other news, Ncube says government is “reviewing” its suspension of Old Mutual and PPC from the Zimbabwe Stock Exchange.

In 2020, Govt suspended the counters, saying their dual listings were undermining the currency.

Apparently, they have remained suspended, despite an RBZ investigation finding no “direct involvement” by the firms.

Zwnews