Why Mugabe blocked the rand
Publish date: 22 May 2017
Issue Number: 726
Diary: IBA Legalbrief Africa
Category: Corruption
Zimbabwe's former Finance Minister Tendai Biti has reportedly disclosed how President Robert Mugabe blocked the adoption of the South African rand as the country's official currency in 2010. News Day reports that Biti, now the leader of the opposition People's Democratic Party, said Mugabe rejected proposals to adopt the rand. ‘Why should we use another person’s currency?’ he reportedly said. Biti was addressing a financial market conference in Harare on Thursday. Zimbabwe has been using a multi-currency system since 2009, to combat hyperinflation.
