Strive Masiwa joins the Bond Notes fight
by: UK Bureau
The United Kingdom based mobile network and also a banking tycoon, Strive Masiyiwa, should back the fight to block government plans to introduce bond notes into circulation, political activist Sten Zvorwadza has said.
Strive Masiyiwa is globally respected and is a key player in Zimbabwe’s financial services sector through his EcoCash mobile money business, Steward Bank and Diaspora remittance platforms.
Zvorwadza said the tycoon could help block introduction into circulation of the bond notes which government says are aimed at helping ease a crippling liquidity squeeze as well as fire new life into a virtually comatose economy.
But horrified Zimbabweans have rushed to the banks to withdraw their US dollars, fearing the government is trying to bring back a local currency by stealth.
Activists and opposition parties have staged protests and condemned the plan warning it risked taking the country back to the hyperinflationary mayhem of 2008 which saw millions lose their savings and pensions as the Zimbabwe dollar was left worthless and eventually ditched.
Zvorwadza addressed activists in Manchester during a recent visit to the UK where he vowed to take to the streets to forced government to abandon the bond notes plan.
He also said one of non-resident Zimbabwean, including the country’s most respected businessman could play a key role in forcing government to rethink the policy.