The influence of The Multi Currency System on Financial Performance of An Organisation: Desktop Study

Piwainashe Rusvoto, Lovemore Sitsha and Newman Wadesango ()
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Piwainashe Rusvoto: Midlands State University
Lovemore Sitsha: Midlands State University
Newman Wadesango: University of Limpopo, RSA

Journal of Economic and Social Development, 2023, vol. 10, issue 02, 01-12

Abstract: The purpose of this desktop study was to establish the influence of Zimbabwe's multi-currency system on the financial performance of organizations in the manufacturing sector. We have located the research of this paper within a qualitative approach (Gay 1992; Babbie 1998; Leedy & Ormrod, 2013). This decision was informed by the fact that this paper is not interested in the quantification of data. But its main interest lies in the painting of qualitatively rich picture of the phenomena being studied within the context of limited respondents (Hall, 2007; Maserumule, 2011; Baugh & Guion, 2016). To this end, the problem of this study is explained descriptively and theoretically for the purpose of generating a crispy understanding of the influence of Zimbabwe's multi-currency system on the financial performance of organizations in the manufacturing sector. Among others, this sources included journal articles, books, magazines and newspapers. The study established that the multicurrency system poses to have demerits which hinder the progress of the activities in the economy and business performance in that the adoption of multicurrency system causes the central bank to lose control over the monetary policy which triggers inflation to increase and hence thus an increase in costs of production to local manufacturing organizations.

Keywords: Multi-Currency System; Financial Performance; Organizations; Manufacturing Sector (search for similar items in EconPapers)
JEL-codes: A11 (search for similar items in EconPapers)
Date: 2023
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