By Zimstar News Reporter
The Reserve bank of Zimbabwe (RBZ) is set to release a new $50 bill to anchor the current family of local bank notes whose value has depleted under recent price hikes.
This was announced Tuesday by Finance Minister Mthuli Ncube who in Statutory Instrument 196/2021.
The Minister of Finance and Economic Development, has hereby, in terms of section 40(3) of the Reserve Bank of Zimbabwe Act (Chapter 22:15), made the following notice specifying matters determined by the President in terms of subsection (2) of that section…there shall be issued, in terms of the Act, a fifty dollar banknote,” read the statutory instrument in part.
According to the minister, the new bill will be brown in colour and “on the front side the dominant feature shall be the logo of the Reserve Bank of Zimbabwe (three balancing rocks), with the visually impaired recognition feature to the left, latent image showing the denomination, windowed security strip inscribed ‘50’ with colour shift from red to green, watermark with highlighted inscription “RBZ” and see-through of Zimbabwe Bird looking to the left in perfect register, as secondary features; and (b) on the back side there shall be an impression of the Tomb of the Unknown Soldier and the motif of Mbuya Nehanda, gold coloured iridescent band showing the denomination of the note and see-through of Zimbabwe Bird looking to the right.”
The bill, which will anchor the current family of bank notes, will still not be enough for a single loaf of bread, let alone a trip on a local Zupco bus.
The Mbuya Nehanda image on the bill comes just after President Emmerson Mnangagwa created a lot of hype over the First Chimurenga heroine through construction and erecting in Harare’s CBD a statue in her honour.
Currently, the 20-dollar bill is the highest among bills that include $2, $5 and $10.
However, the $2 and $5 bills have been rendered redundant as Zimbabweans nolonger use them in their daily transactions.