After reading a newspaper article highlighting a proposal by Time Bank of Zimbabwe Limited which seeks to introduce 4th Money or Takura Money whose primary role would be to enhance civil servants salaries while at the same time liquidating all the Zimbabwe dollar deposits that could not be accessed post dollarisation, I felt that the subject matter is both interesting and challenging.
To get this groundbreaking idea off the ground, the media and the academic world must elevate it to become part of the national debate at various public fora and professional gatherings, particularly platforms arranged by SAPPES and the ZES.
The idea is to invite the originators of the idea, in this case Time Bank, to give presentations before fellow professionals and other interested groupings in a bid to help them understand how 4th Money or Takura Money can be created, the role of the syndicate of banks that would be appointed to manage this novel project and how the facility could be put into operation.
The whole point is to adequately empower these professionals with information so that they can impart this knowledge to members of the public who stand to benefit from this facility.
While it is good to focus on the political side of things, I believe that the nation is getting fatigued by politics, hence the need to balance our public debate. It is high time we diversify our national discourse to also focus on economic issues that directly or indirectly affect our people.
As demonstrated by Time Bank, the challenge for our professional bodies, such as the ZES and other learning institutions, is to go beyond bookish economics. It is high time they must smell the coffee by starting to look for solutions to some of Zimbabwe’s challenges in a creative and innovative way taking a leaf from Time Bank. – EDGAR NYACHOWE, Karoi
Post published in: Letters to the Editor