As the German company rejected Zimbabwe’s offer on supplying them with bond notes that they requested, they had to turn to fellow Africans for help. The country had no choice but to ask South Africa and other African countries to intervene in their problem.
This was after the Zimbabwe’s Reserve Bank governor John Kangudya rose the expectation of the bond notes to be in circulation by the end of October. The dependency on the German company backfired to them since they have left them with an extended deadline for the bond notes to be released.
Zimbabwe introduced a new currency to the company which may been the reason for them to pull out of the deal. Although this can affect the flow of cash in the country, there is a good chance that by December they would have a chance bounce back a bit.
This is a chance for African countries to work together more often in order to avoid disappointments like this again. South Africa and Zimbabwe should have done this a while back especially since they neighbors but they chose to depend on more foreign companies.
It is really that difficult to admit that a country needs help rather going far only to get rejected for something that could have been easily negotiated. South Africa can also improve their image if they can pull this deal off. Not only the image but the countries economy could increase as well.
One should consider using one’s resources to resolve their own problems. There is no point in depending to those who will benefit more than what is necessary.