The Reserve Bank of Zimbabwe (RBZ) Foreign Currency Auction System introduced by the apex bank boss, RBZ Governor Dr John Panonetsa Mangudya has been promised full funding from President Mnangagwa’s government.
Speaking during a State of the Nation (SONA) address in Parliament yesterday, President Mnangagwa pointed out that the financial services sector is stable with the foreign currency auction system managed by the RBZ performing well and accessed by both large and small to medium size businesses.
Mangudya adopted the Dutch Forex Auction system in June last year and on Tuesday conducted his 65th foreign currency auction since inception.
President Mnangagwa said his Second Republic will leave no stone unturned and will ensure that the foreign currency auction system is adequately funded.
“Going forward, my Government will ensure that the platform is adequately resourced and that the relevant authorities enhance efficiencies within the system,” Mnangagwa said.