Government Official Says Zimbabwe Is Currently Gathering Opinions On Cryptocurrencies Cryptocurrency

A Zimbabwean government official recently confirmed that the country’s administration is currently gathering opinions on cryptocurrencies from knowledgeable people.

The government’s lingering concerns

Charles Wekwete, who is the head of the e-government unit, suggested that the country will only adopt a formal position on cryptocurrencies after the consultation process is completed.

According to a Sunday News report, Wekwete – who addressed delegates attending an IT summit held in Victoria Falls – made the comments while responding to a request from attendees. Participants had asked Wekwete whether the Zimbabwean government’s stance on cryptocurrencies had changed.

In his response, Wekwete begins by reiterating his government’s ongoing concerns about cryptocurrencies and fears that they could be used to facilitate nefarious activities. However, Wekwete went on to reveal that the Zimbabwean government is already struggling to find the proper regulatory framework for cryptocurrencies. The report quotes Wekwete explaining how this process unfolded:

The government has therefore put in place a mechanism to try to gather the views of various sectors of society in order to eventually formulate policies. There have been statements from the Minister of Finance and the Reserve Bank of Zimbabwe and it is such a complex area. Sooner or later, the government will make statements but we are not there yet, the consultation process is already underway.

Government open to ideas from private sector actors

Besides the ongoing consultation process, Wekwete hinted that his government is always open to ideas from private actors who are not currently involved in this process.

Meanwhile, the report also quotes Allan Saruchera, the president of the Computer Society of Zimbabwe and one of the participants, expressing his organization’s willingness to help the government. Saruchera suggested that knowledgeable people in the IT industry felt they had a responsibility to “share and show what can be done.”

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Terence Zimwara

Terence Zimwara is an award-winning journalist, author and writer in Zimbabwe. He has written extensively on the economic problems of some African countries as well as how digital currencies can provide Africans with an escape route.

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