News

Zimbabwe is looking for a new money printer after Giesecke & Devrient, a German company, pulled out of its contract following global criticism.

Petitions by Zimbabweans, allegations of Nazi connections and criticism in the House of Commons have hampered Giesecke & Devrient’s work in the

African country, which is currently under the leadership of Robert Mugabe.

The German chancellor, Angela Merkel, had previously said that Giesecke & Devrient’s contract was a private matter.

However, mounting violence after the one-candidate election on 29 June seemed to be the final straw.

The Wall Street Journal reported that Frank-Walter Steinmeier, Germany’s foreign minister, ordered the company to halt deliveries.

The east African country currently has inflation running at 1m per cent. A can of Coke is said to cost 15bn Zimbabwe dollars.

De La Rue has confirmed that it would not be willing to take on the controversial contract.