Mthuli: Sanyatwe’s Short Walk Into First Street On 1 Aug Crashed Economy By USD16bln, How Much Will Be Lost After 2 Weeks?
21 October 2023
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By Business Reporter | ANALYSIS | ZimEye | In a move that has sent shockwaves through Zimbabwe, Anselem Sanyatwe has been appointed as the Zim National Army Commander, a decision that has resurrected the haunting memories of August 1, 2018. On that fateful day, Sanyatwe’s entrance into Harare’s First Street caused a staggering economic loss of USD 16 billion, sending the nation’s financial stability into a tailspin.

The mere mention of his name brings back memories of that tumultuous day when a single stroll of Sanyatwe leading less than 20 soldiers, had such a catastrophic impact on Zimbabwe’s economy. His actions led to a loss of confidence in the country’s stability, causing investors to flee, and the stock market to plummet. This economic catastrophe still reverberates through Zimbabwe’s history.

Now, with Sanyatwe back in command and at the helm of an army of approximately 50,000 soldiers, Zimbabweans are left to ponder the dire economic consequences that may follow. While it’s difficult to predict the exact outcome, the implications are staggering when considering the economic turmoil caused by his previous involvement.

The Finance Ministry, in an unprecedented disclosure reveals that Sanyatwe’s entrance into First Street on that infamous day in 2018 resulted in the loss of a mind-boggling USD 16 billion in investment money. This revelation is part of the Finance Ministry’s assessment report submitted to a panel tasked with investigating Sanyatwe’s actions. It’s worth noting that these actions were also strongly condemned by the United Nations, after the Motlanthe Commision.

The question that now hangs over Zimbabwe is this: if one day under Anselem Sanyatwe commanding less than 20 soldiers made the nation lose USD 16 billion, what economic horror may unfold over two weeks with him leading a force of 50,000 soldiers? Part of the statement is below (pic)

While the exact mathematical calculation of the potential economic fallout remains uncertain, the implications are deeply troubling. The return of a figure associated with such a colossal financial disaster raises serious concerns. Investors may become wary once again, foreign aid and assistance might dwindle, and economic growth could come to a grinding halt.

As Zimbabwe embarks on this new chapter with Sanyatwe as the National Army General, the nation remains on edge, keenly aware of the potential economic turmoil that could follow. The specter of August 1, 2018, continues to haunt the country, and Zimbabweans can only hope that lessons have been learned, and history does not repeat itself.