Advocate Jacob Mudenda,the speaker of Parliament yesterday raised a query on the $200 million Afreximbank bond note strategy saying the money could have been used to boost gold reserves which were going to raise close to $1,5 billion.
The proposal by government to introduce Bond notes has sparked widespread national debate with critics fearing the initiative could take the country back to the hyper inflationary era of 2007-2008.
“I do not want to dwell on the bond notes issue but the $200 million from AfreximBank. I would have taken that money to buy gold and with that you can raise $1,5 billion. Why bring that $200 million to bring bond notes for export incentives when we can create $1,5 billion? Where are you as business to advise the Government? Anyway, Parliament is speaking now,” said Mudenda, drawing applause from the large business delegation that is attending the 2016 ZNCC annual congress here.
He said the recent Presidential statement clarifying the indigenisation regulations was a huge milestone that should get a buy in from the private sector through its various organisations.
“I am a disappointed Speaker. What are we waiting for when the big man (President Mugabe) has spoken? If your business lawyers are not sure let them approach the Law Society of Zimbabwe and assist Parliament to look at the Indigenisation Act and make it attractive to business. Let us help the Government clean up this law because this legislation is one of the laws that have created negative perceptions out there,” said Advocate Mudenda.
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