THE importance of a local currency in any economy cannot be overstated and the ZiG is crucial for the country’s economic growth and stability.
There have been reports of some schools rejecting the ZiG currency for school fees. This is not only illegal, but also undermines the efforts of the Government to promote the use of the local currency. Schools that reject the ZiG currency for school fees should face stiff penalties.
Education is a fundamental right for every child, and schools have an obligation to provide quality education. By rejecting the ZiG currency, these schools are excluding some children from accessing education and hindering the economic growth and stability of the country.
The authorities should act swiftly to ensure that every child has equal access to education and that no one is excluded because of their inability to pay in foreign currency.
The use of the black market rate to profiteer is equally unacceptable. Those who engage in this practice are exploiting vulnerable parents and guardians who are desperate to have their children educated. This practice not only violates the rules and regulations of the Reserve Bank of Zimbabwe, but also undermines the country’s economic stability and growth.
Our country has been grappling with economic challenges for many years now, and has gone through hyperinflation and currency devaluation.
The Government has been implementing various reforms to stabilise the economy, and the introduction of the ZiG currency is one of the measures put in place to achieve this.
It is, therefore, unacceptable for schools to reject the local currency or use the black market rate to profiteer. These schools are sabotaging the Government’s efforts to stabilise the economy and promote the use of the local currency.
The authorities need to take a firm stand on this issue. Schools that reject the ZiG currency should face stiff penalties, including de-registration and prosecution. Those who use the black market rate to profiteer should also face similar punishment.
The authorities should deal harshly with schools that reject the local currency and those that use the black market rate to profiteer. The use of the official foreign exchange market should be encouraged to ensure that schools have access to the foreign currency they need to pay for essential goods and services. With these measures put in place, our country will be on course to achieving economic growth and stability.
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