THE Reserve Bank of Zimbabwe (RBZ)’s directive for companies to adopt ZiG as a functional reporting currency in a multi-currency regime has been met with cynicism, with some analysts warning of distortions in the interpretation of corporate performance.This comes as a majority of listed companies have been adopting the US$ as their reporting currency, alluding…
ZiG financial reporting directive sparks cynicism
To the contrary, the central bank, through the monetary policy statement issued last week, said its directive was “consistent with the increase in the number and value of transactions settled in ZiG since its introduction on April 5, 2024.”