The Zimbabwe Congress of Trade Unions (ZCTU) has accused Finance Minister Mthuli Ncube of relying on what it calls “severely manipulated” inflation statistics to dismiss workers’ salary demands, despite worsening economic conditions.
Zimbabwe recorded single-digit annual inflation of 4.1% earlier this week, the first such figure in 29 years, according to official data.
Ncube, who is locked in a standoff with labour over wage demands, has urged workers to be “reasonable”, arguing that the ZWG local currency has stabilised significantly.
However, reacting to the remarks, ZCTU Secretary General Tirivanhu Marimo accused the minister of being detached from the realities of workers whose earnings continue to be eroded by rising costs.
“We are extremely worried that the purported reduction of the December 2025 ZWG year-on-year inflation figure from 12.39% to 4.1% in January 2026 is a result of serious manipulation. If this is so, there is every reason for every economic player to be worried. This distorts our statistics and seriously impacts our ability to attract serious investors,” said Marimo.
Marimo dismissed claims of currency stability as a “cooked-up”, questioning why the economy remains heavily dollarised if the local unit is indeed strengthening.
“The ZIG fails the basic credibility test, as it is not accepted for critical transactions such as fuel, medicines, or passports, all predominantly priced in U.S. dollars,” Marimo said.
The labour body leader also questioned why the Treasury continues to ignore the structure of Zimbabwe’s economy, which he said is approximately 84% informal and overwhelmingly US-dollar dominated.
Marimo argued that workers have little incentive to preserve value in a currency that lacks widespread acceptance and confidence, insisting that labour’s demands are rooted in the actual cost of living rather than “abstract theories”.
“The salary demands by labour are grounded in the actual economic conditions faced by workers, not in abstract theories that offer no tangible relief. Workers must earn salaries above the poverty datum line in a functional and stable currency,” he said.
As the 2026 collective bargaining season begins, Marimo urged workers and negotiators to reject pressure to accept remuneration paid in the local currency.
“As the 2026 collective bargaining season commences, we urge all workers and negotiators to disregard the Minister’s misguided comments, which appear designed to pressure employers into paying salaries in the unstable ZIG. Instead, we must collectively negotiate for meaningful wage increases payable in a credible and worthy currency,” he added.
