Scammers? Government sincerity on bond notes ‘incentive’ questioned

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Charles Mabhena

As the bond notes’ purported export and remittance incentive continue to confuse people by each passing day, as to what is the government’s real intentions were, information exposing the contrary has come up, as people are only getting 3 percent as bonus.

Prior to the bond notes introduction into the economy, people went haywire in the streets, social media and other platforms expressing their doubts on the government’s real intentions, accusing it of not being sincere, regarding what it promises and what it would actually do.

Some went as far as claiming that it was a way to raid people’s bank accounts of the much sought after US dollars, replacing it with bond notes.

As if to give base to their fears, some people have expressed their displeasure on the incentive function of bond notes, they now feel cheated by the government through the central bank, after finding out on the ground that only 3 percent on remittance is being paid as opposed to the authorities’ claim of 5 percent.

Danielle Nkomo of Harare who recently received remittance from a relative in Australia says it is true that the ZANU PF government is up to mischief with regards to bond notes purpose and usage.

“From the word go the authorities were not very clear on the whole issue, not much information was made available to the general populace, and now it has come out that they lied, we were told that we were going to be paid 5 percent on export receipts or remittances, but I only got 3 percent.

“It is now clear that the other 2 percent is being channelled elsewhere by the authorities,” she says. spoke to other citizens who had received money from abroad who shared the same sentiments as Nkomo saying while 5 percent was promised, only 3 percent is being given out as incentive.

“I am not amused, this government of ours has a track record of failing to walk the talk. What they promise is not what they would actually do. I also got only 3 percent incentive on remittances received,” said another citizen Solomon Bepe.

According to the Reserve Bank of Zimbabwe (RBZ), bond notes are an export incentive which rewards you for generating foreign currency through exporting goods and services. The incentive pays you up to 5 percent on the foreign currency you generated.

A teller at one of the Western Union branches in Harare told that the money transferring agencies were never given a directive from the central bank to pay 5 percent on money received.

“We never got any directive from RBZ to pay 5 percent bonus on remittances. We have been paying 3 percent since October this year,” said the teller who could not identify himself.

The citizens’ displeasure comes against the background that the RBZ governor John Mangudya had been in the media and different for a urging people to embrace the bond notes whose one of the main functions was of being a bonus to those who would have generated foreign currency for the country.

Mangudya said 5 percent was to be given to exporters or those who had received remittance as an incentive for having brought the much needed US dollars in Zimbabwe.

Meanwhile, Vice-President Emmerson Mnangagwa once pleaded with Zimbabweans to embrace his government’s good intentions, when he also added that the bond notes were indeed an export incentive, in which 5 percent was to be paid for export receipts or remittances received.