Zimbabwe’s Freda to Pay Salaries in Foreign Currency

HARARE – Freda Rebecca, one of Zimbabwe’s oldest gold mines, is to pay salaries in United States dollars after being given the permission to do so.

According to Freda Rebecca general manager, Eliakem Hove, the approval has been granted for the period January to December 2020.

In a memo to workers released on Thursday, Hove said workers would receive their first foreign currency pay on Monday.

“Kindly be advised that negotiations for USD salary approval have been concluded and we have received the requisite approval from January 20 to December 2020,” said general manager, Eliakem Hove.

“Henceforth, payroll is being readjusted to USD and let us expect our salaries early next week. Management wishes to advise that this offer is a privilege and any form of abuse will lead to its withdrawal,” Hove noted.

Freda’s move could confirm that Zimbabwe’s economy may be re-dollarising, and that consumers, facing a tough time due to the continued depreciation of the Zimbabwe dollar in the past year, could be preferring the much stable currency. The local currency has been a disaster since its return, and consumer have been paying the brant of its troubles.

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