By Fanuel Chinowaita
Harare, 29 January, 2026 — The Zimbabwe Congress of Trade Unions (ZCTU) has strongly rejected Finance Minister Mthuli Ncube’s call for workers to be “realistic” in their wage demands, accusing him of ignoring the harsh economic realities facing employees and downplaying the fragility of the Zimbabwe Gold (ZIG) currency.
In a press statement released yesterday, ZCTU said it was “appalled” by remarks from Minister Ncube urging labour to align salary adjustment demands with inflation, citing what he described as the stabilisation of the ZIG currency.
The labour federation said the Minister’s comments showed “a profound disregard for the daily struggles and lived realities of Zimbabwean workers,” arguing that purchasing power continues to be severely eroded despite official inflation figures.
“We are extremely worried that the purported reduction of December 2025 USD year-on-year inflation figure of 12.39% to 4.1% in January 2026 is a result of serious manipulation,” ZCTU said.
“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.”
ZCTU further challenged government claims that the ZIG has stabilised, describing the currency’s performance as “artificial and fragile” in an economy that remains heavily dollarised.
“In an economy that remains overwhelmingly dollarised, this stability lacks guaranteed longevity,” the statement said. “Ordinary Zimbabweans do not experience this so-called stability; instead, they live in constant fear of sudden devaluation.”
The labour body noted that the ZIG “fails the basic credibility test,” arguing that it is not accepted for essential transactions such as fuel, medicines and passports, which are largely priced in United States dollars.
ZCTU also highlighted the structure of the economy, stating that about 84 percent of economic activity is informal and predominantly conducted in US dollars.
“In such an environment, no rational person would choose to preserve their value in a currency that lacks widespread acceptance and confidence,” the statement read.
The union reiterated that labour’s wage demands are based on real economic conditions rather than “abstract theories that offer no tangible relief,” maintaining that workers should earn salaries above the poverty datum line and in a stable currency.
As the 2026 collective bargaining season begins, ZCTU urged workers and negotiators to ignore what it termed the Minister’s “misguided comments,” which it said were intended to pressure employers into paying wages in the ZIG.
“Instead, we must collectively negotiate for meaningful wage increases payable in a credible and worthy currency,” said ZCTU Secretary General Tirivanhu Marimo.