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[LISTEN] Should Zimbabwe officially join SA in a monetary union?

Currency specialist at Ironhead Trading, Tim Nhamo, weighs in on whether Zimbabwe should join South Africa as part of a monetary union.

JOHANNESBURG – Zimbabwe’s financial crisis and fuel price have sparked violent protests in many parts of the country.

Questions have been raised on whether Zimbabwe can and should join the rand monetary union area.

Currency specialist at Ironhead Trading, Tim Nhamo, says the rand monetary union refers to the number of countries that have their own but have similar monetary conditions and access to local markets.

“What that does is create an area of common stability and currency values.”

On whether Zimbabwe should be part of this monetary union, Nhamo says the question is difficult one to answer.

“The issues are related to the stability or instability of the Zim economy and their currency situation has a lot to do with their import and export services and government spending versus revenue… and they have been never being able to get that under control and that’s where the issue is.”

Nhamo says, should Zimbabwe join the rand monetary union, then South Africa is a risk of having a lot to lose.

Listen to the audio above for more.

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