JM BUSHA, JM BUSHA INVESTMENT GROUP

Foreign currencies are no longer acceptable as legal tender in Zimbabwe, with Finance Minister Mthuli Ncube saying Monday that the Zimbabwe dollar is now the only acceptable medium of exchange for local transactions. This effectively sidelines the multiple currency regime that Zimbabwe has been using alongside the bond notes and the recently introduced RTGS$ currency. In a Statutory Instrument (SI) on Monday, the Zimbabwean Minister of Finance gazetted the official side-lining of the SA Rand, Botswana Pula and US Dollar as legal tender.