No One Will Lose Their Money, Govt Working To Protect Savings Whether In Local Or Foreign Currency- Mnangagwa

In the first instalment of his new weekly column in The Sunday Mail, President Mnangagwa assured Zimbabweans that they will not lose their earnings and savings both in local and foreign currency.

This comes amid fears Government will phase out the Bond Note and real-time gross settlement (RTGS) deposits following a directive by Reserve Bank of Zimbabwe (RBZ) governor John Mangudya for banks to open Foreign Currency Accounts, which would be separate from the standard local deposit Real Time Gross Settlement (RTGS) accounts. Mnangagwa however said Government is working to protect and secure people’s savings. Said Mnangagwa:

Government continues to work flat out to protect consumers, defend wage values and secure savings. This includes the $9 billion in RTGS deposits in our banks. We are already putting in place legally enforceable measures to protect such earnings and savings, whether in local or foreign currency. No one will lose their money.

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