{"id":64559,"date":"2022-08-17T17:15:22","date_gmt":"2022-08-17T15:15:22","guid":{"rendered":"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/mzembi-claims-mangudya-chinamasa-misled-mugabe-over-his-proposal-to-join-rand-union"},"modified":"2022-08-17T19:58:55","modified_gmt":"2022-08-17T17:58:55","slug":"mzembi-claims-mangudya-chinamasa-misled-mugabe-over-his-proposal-to-join-rand-union","status":"publish","type":"post","link":"https:\/\/www.africa-press.cc\/zimbabwe\/all-news\/mzembi-claims-mangudya-chinamasa-misled-mugabe-over-his-proposal-to-join-rand-union","title":{"rendered":"Mzembi Claims Mangudya, Chinamasa Misled Mugabe Over His Proposal To Join Rand Union"},"content":{"rendered":"

Africa-Press – Zimbabwe. <\/strong><\/span>Former Foreign Affairs Minister Walter Mzembi has claimed that Reserve Bank of Zimbabwe (RBZ) governor, John Mangudya, and then Finance minister Patrick Chinamasa undermined his proposal for Zimbabwe to join the Rand Monetary Union (RMU) in 2015, which he believes could have stabilised the economy.<\/p>\n

The Rand Union, formally referred to as the Common Monetary Area (CMA), is a monetary agreement with South Africa in which the rand is legal tender in all states, but the other member states (Namibia, Lesotho and Eswatini) issue their own currencies.<\/p>\n

Posting on Twitter, Mzembi claimed Mangudya and Chinamasa misled then President Robert Mugabe into thinking that the plan was a scheme to sell the country to Americans. Said Mzembi:<\/p>\n

From 2015, I took it upon myself to win over Cabinet, to Zimbabwe joining Rand Monetary Union. Cabinet received my papers on this. I failed.<\/p>\n

Later on, Mugabe told me \u201cChinamasa and Mangudya are saying you want to sell the country to the Americans!\u201d<\/p>\n

In 2017 Mugabe asked the two \u201cDo we go with the Mzembi proposal or not, does he make sense?\u201d.<\/p>\n

Answer from the two \u201cYes Your Excellency, he makes sense but he lives well ahead of his time, we will get there eventually\u201d. Subject closed.<\/p>\n

End of September 2017, Mugabe discussed the option of redeployment to finance or foreign affairs.<\/p>\n

I argued vigorously for the latter pressing that in finance I would struggle to get Cabinet support for a new economic direction \u2013 RMU. End of story!<\/p>\n

In 2019, President Emmerson Mnangagwa abandoned the multi-currency system that had stabilised Zimbabwe\u2019s economy between 2009 and 2019 and reintroduced the Zimbabwean dollar.<\/p>\n

However, the local unit has been in free-fall, forcing Mnangagwa to reintroduce the multi-currency system in 2022.<\/p>\n

For More News And Analysis About Zimbabwe<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Zimbabwe. Former Foreign Affairs Minister Walter Mzembi has claimed that Reserve Bank of Zimbabwe (RBZ) governor, John Mangudya, and then Finance minister Patrick Chinamasa undermined his proposal for Zimbabwe to join the Rand Monetary Union (RMU) in 2015, which he believes could have stabilised the economy. The Rand Union, formally referred to as […]<\/p>\n","protected":false},"author":84,"featured_media":64558,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3,6,35,15],"tags":[1493,2189,11377,11378,11379,4981,19],"class_list":{"0":"post-64559","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-all-news","8":"category-economy","9":"category-homepage-english","10":"category-twitter","11":"tag-africa-press","12":"tag-africa-press-zimbabwe-2","13":"tag-rand","14":"tag-rand-monetary-union","15":"tag-rand-union","16":"tag-walter-mzembi","17":"tag-zimbabwe"},"yoast_head":"\nMzembi Claims Mangudya, Chinamasa Misled Mugabe Over His Proposal To Join Rand Union - zimbabwe<\/title>\n<meta name=\"description\" content=\"Former Foreign Affairs Minister Walter Mzembi has claimed that Reserve Bank of Zimbabwe (RBZ) governor, John Mangudya, a ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/mzembi-claims-mangudya-chinamasa-misled-mugabe-over-his-proposal-to-join-rand-union\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Mzembi Claims Mangudya, Chinamasa Misled Mugabe Over His Proposal To Join Rand Union\" \/>\n<meta property=\"og:description\" content=\"Former Foreign Affairs Minister Walter Mzembi has claimed that Reserve Bank of Zimbabwe (RBZ) governor, John Mangudya, a ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/mzembi-claims-mangudya-chinamasa-misled-mugabe-over-his-proposal-to-join-rand-union\" \/>\n<meta property=\"og:site_name\" content=\"zimbabwe\" \/>\n<meta property=\"article:published_time\" content=\"2022-08-17T15:15:22+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-08-17T17:58:55+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/zimbabwe\/sites\/14\/2022\/08\/postQueueImg_31-62fd2c47934d1.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"720\" \/>\n\t<meta property=\"og:image:height\" content=\"402\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/mzembi-claims-mangudya-chinamasa-misled-mugabe-over-his-proposal-to-join-rand-union\",\"url\":\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/mzembi-claims-mangudya-chinamasa-misled-mugabe-over-his-proposal-to-join-rand-union\",\"name\":\"Mzembi Claims Mangudya, Chinamasa Misled Mugabe Over His Proposal To Join Rand Union - 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