The Reserve Bank of Zimbabwe governor, Dr John Mangudya has encouraged Zimbabweans to go back to the old ways of depositing money in banks.
Speaking during a Parliamentary committee, Dr Mangudya said the banking sector is coming up with the nuts and bolts of interest payments on demand deposits to encourage people to deposit money in banks, rather than bury it under their pillows
“We are working on incentives together with the Bankers Association of Zimbabwe to encourage people to make deposits. We shall soon be making the necessary announcement. We will be paying interest on those that deposit money in banks to encourage people,” Mangudya said.
Dr Mangudya who once told this publication that the economy was stable, told the parliamentary committee that the future looks bright for the nation as far as the economy is concerned.
“We are in the right direction to achieve National Development Strategy 1. Dams are full. The future is looking bright for Zimbabwe. Farmers and industry are doing well. We continue to pray that we continue to work as a team. Our strategy dovetails with Government aspirations,” He said.
