De-dollarization will be pure suicide: Tendai Biti speaks against RBZ’s plan for use of ZIG
Former Finance Minister Tendai Biti has warned that Zimbabwe’s push towards de-dollarisation and adoption of the Zimbabwe Gold (ZiG) as the only legal tender is “ahistorical” and “pure suicide”. His remarks, posted on 15 August 2025, reignited the long-running debate on the country’s monetary direction.
Biti cautions RBZ on currency policy
Tendai Biti, who served as Finance Minister during the Government of National Unity, issued a strongly worded critique of the Reserve Bank of Zimbabwe’s currency policy.
“The regime’s unrelenting push towards de-dollarisation and the use of the ZIG as a mono currency is ahistorical and pure suicide. We have consistently argued that conditions for a mono currency simply do not exist. A currency is primarily a by-product of the social contract.”
Biti’s post quickly spread and struck a chord with many who recalled Zimbabwe’s history of hyperinflation and failed currency experiments.
The ZiG, introduced earlier in 2024, was backed by gold and other reserves. It was pitched by the RBZ as a stable replacement for the Zimbabwean dollar, which had rapidly lost public trust. But despite its launch, many businesses and households continued to prefer the US dollar.
Zimbabweans voice strong reactions online
Biti’s warning triggered a flood of comments from Zimbabweans both inside and outside the country. Some agreed wholeheartedly, while others dismissed his concerns.
A user named @ZHRO_Zimbabwe expressed strong support:
“@BitiTendai is exactly correct, and as GNU Finance Minister – is about the ONLY man in Zimbabwe who could solve this dilemma. Zanu PF are completely CLUELESS at administering Zimbabwe – they could never be called a ‘government’. Their Mafia proclivities are too ingrained!”
Others linked the currency debate directly to the political calendar. @TonderaiMa96548 commented:
“With 2028 looming the political realities of pushing for zig mono currency might be the miscalculation needed for lasting change. I am of the view Zanu PF is one miscalculation from a revolution that will free us from its socialist policies.”
The debate spilled into hashtags, with @LeaderGeneral1 pushing:
“To stop this madness we say: #NoTo2030 #ReformsNow.”
Still, not all responses were negative. Some saw opportunity in the change. @shemiahny urged speed:
“Let’s do it. We need to pay mortgages off! Speed this up.”
One sceptic, @mtrolisto, suggested the currency push had ulterior motives:
“They know that. It’s easier to loot when there is a single currency. Remember they are not trying to improve conditions for Zimbabweans. They just want to maximise their earnings. The poorer the Zimbo, the better it is for Zanu PF.”
A divided nation on the future of ZiG
The ZiG experiment remains at the centre of Zimbabwe’s economic policy. Supporters argue that relying on a local currency is vital for sovereignty, while critics insist that the economy is too fragile to sustain a mono-currency system.
Biti’s remarks revived deep-seated fears of instability. Many recall how the Zimbabwean dollar collapsed in the late 2000s, leading to the adoption of multiple foreign currencies. Even today, the majority of transactions remain denominated in US dollars, with the ZiG struggling for widespread acceptance.
For now, Zimbabweans remain split. Tendai Biti’s intervention has ensured that the ZiG’s future will stay firmly under public scrutiny.
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The post Pure Suicide: Tendai Biti Speaks Against RBZ’s Plan For De-dollarization & Use Of ZIG As Mono-Currency appeared first on iHarare News.
