“I am very clear that there have to be currency reforms and the (current) currency approach is not working. In doing so, there are three choices that I will explore and pursue with urgency: One, adopt the US dollar only and remove the bond notes from circulation through a demonetisation process and also liberalise exchange controls.
“Two, adopt the rand by negotiating to join the Rand Monetary Area, and this will close the gap in loss of competitiveness against our largest trading partner, South Africa.
“Three, adopt a new Zim dollar, and here one needs to be clear that it has to be backed by adequate foreign reserves and macroeconomic conditions for its stability. Foreign currency accounts will also be introduced. For sure, currency reforms will be implemented,” he told The Sunday Mail.
“I promise to do my best, I am a hard worker and I want to see Zimbabwe record strong and sustained growth. I also want to see creation of jobs and one of my major priorities would be to attract foreign investors and rebuild confidence. We do not only want to get foreign investment, but, also, domestic investment is extremely important.
“We will need to look at the several pillars that affect economic development such as government expenditure, attracting foreign direct investment and so on.”
He said he would help the financial services sector introduce new and innovative products.
Prof Ncube said he was prepared for the pay cut that comes with leaving a lucrative international private sector posting for a Government job.