The Impact of the Multi Currency System in Zimbabwe on Financial Performance of an Organisastion in the Manufacturing Sector. A Case Study of Dazzling Investsments

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

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

Abstract: Due to Zimbabwe's fluctuating multi-currency system, which has confused market participants because some of the changes have an effect on firms' pricing and exchange rate systems as well as their ability to perform financially, this has particularly affected businesses in the manufacturing sector. The researchers have been motivated to assess the impact of Zimbabwe's multi-currency system on the financial performance of an organization in the manufacturing sector. The researchers adopted the pragmatic research approach, and the research design used was the descriptive. The researchers used a census, or the study of the entire target population, which included 22 participants, and 22 questionnaires were distributed, with a 95% response rate. The findings were that these factors impacted the financial performance of Dazzling Investments. A negative relationship between the multicurrency system and financial performance was obtained from the data analysed. The recommendation is that, since there are some contradictory policies that hinder the organization's financial performance, like Exchange Control Directive 176 of 2020, the researcher suggests that the organization should adapt to the Reserve Bank of Zimbabwe's monetary policies because it is required by the jurisdiction for the firms to operate in Zimbabwe.

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