Business Reporter
Zimbabwe’s treasury secretary, George Guvamatanga, clarified on Monday that the widely cited 2030 deadline for ending dollarisation and transitioning back to the exclusive use of the local currency was not set by the government, but by industry bodies.
Speaking at a post-budget conference in Harare, Guvamatanga explained that the 2030 target, which has drawn significant attention, was included in a key statutory instrument (SI) at the urging of the Confederation of Zimbabwe Industries (CZI).
“The 2030 date was never a government target,” Guvamatanga stated. “I worked on the SI myself, and I argued against setting a hard deadline. But there was strong pressure from CZI, who insisted on having a date, and so we included one.”
He added that recent discussions with industry representatives have led to a shift in perspective, with CZI now reconsidering the deadline.
“We’ve had constructive conversations, and CZI is now suggesting we remove the date altogether,” Guvamatanga noted.
The treasury secretary also revealed that the statutory instrument in question was largely driven by the Bankers Association of Zimbabwe (BAZ) and CZI, with the two groups playing a significant role in drafting the document.
“The SI wasn’t even fully crafted by us,” he explained. “It was mainly BAZ and CZI who worked on it, and it was their lawyers who wrote the SI. CZI pushed for the date, BAZ provided the technical framework, and we just published it.”
Finance Minister Mthuli Ncube, who was also present at the conference, voiced support for the idea of scrapping the 2030 deadline entirely.
“Let’s remove the date,” Ncube said.
The debate over the 2030 timeline highlights ongoing concerns about Zimbabwe’s currency stability, with both citizens and investors seeking clarity on the long-term framework for the country’s economy. Investors, in particular, remain wary of the volatile currency shifts that have led to significant losses in the past.
