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Zimbabwe's Finance Minister Mthuli Ncube has ordered all government agencies to accept payments in the newly introduced gold-backed currency amid reports of acute shortage. The Malawi government says Israel has deported 12 Malawian
Mr Ncube in a statement said the Zimbabwe Gold (ZiG), introduced last month, was now the official unit of exchange for transactions in the country. workers who had deserted farms where they had been employed to work.
He said the government would soon introduce regulations to ensure businesses stick to the official rate, which would be freely determined by the banking system based on demand and supply. In a statement, Information Minister Moses Kunkuyu said the workers had
“All ministries, departments, and agencies (MDAs) and the private sector alike are hereby advised to accept and recognise the ZiG as the official currency for all financial transactions, and payment for all goods and services, effective immediately,” the minister added. valid visas to work in specific farms but had “breached their contract” by going to work at a bakery.
The currency was introduced in a move to stabilise the country's economy, which has been grappling with escalating inflation. The 12 Malawians were among over 40 foreign workers who were
But despite the new notes starting to circulate late last month, acute change shortages and scarcity have remained, the New Zimbabwe news website reported. arrested while working at a bakery in Tel Aviv last week.
It is the third currency to be introduced in Zimbabwe within the past decade. Mr Kunkuyu said it was illegal under Israeli law for a foreign
Read more: worker to change jobs without following the right procedures.
Is Zimbabwe zigzagging into further currency chaos? He cautioned all Malawian migrant workers in Israel “to
desist from such behaviour as it puts this country into disrepute”.
“Such behaviour may also reduce employment opportunities of
the individuals concerned,” he said.
Hundreds of Malawians
travelled to Israel last year to fill a labour gap on Israel's farms, as
thousands of workers had left following the start of the war with Hamas in
October.
It came as part of a labour
export deal signed between the two countries in 2022.
Last week, some Malawians
Israel told the BBC that low salaries were the reason why some of them had left
their jobs on the farms to look for other work in the country.
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