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Mnangagwa Embarrasses Himself In China | UPDATED
4 September 2018
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 – Herald claims China has chucked out $60 billion

– But Zimbabwe’s been allocated just $1,09 billion

– Of this amount, 800 million has already been allocated to the notorious convicted fraudster, Wicknell Chivayo.

By Simba Chikanza| ZANU PF leader Emmerson Mnangagwa embarrassed himself in China when he celebrated a virtually cashless disbursement by the Chinese government.

Mnangagwa went on overdrive to celebrate Chinese President Xi Jinping’s pledge of $60 billion in so called “financing” for Africa.

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The state media published celebratory accolades saying, the financing includes $15 billion of grants, interest-free loans and concessionary loans, $20 billion of credit lines, the setting up of a $10 billion special fund for development financing and a $5 billion special fund for financing imports from Africa.

But it is totally empty – it is just a pledge, nothing more than that.

And assuming it was real cash – of this $60 billion pledged by China, Zimbabwe is going to get an allocation of just $1,09 billion (pro rata -55 countries in Africa).

Of this $1,09 billion, 800 million has already been allocated to the notorious convicted fraudster, Wicknell Chivayo for his “tender business.” This leaves Mnangagwa with just $200,09 million.

The Chinese president has revealed that this $200,09 million is for Chinese investments in Africa in the next three years. “The financing will be provided in the form of government assistance as well as investment and financing by (Chinese) financial institutions and companies,” President Xi said in his keynote address.

Meanwhile, learned analysts said all Mnangagwa needs to do to restore the Zim economy is re-establish investment trust. Top Canada based Credit Risk Manager, Dr. Wilson Muzorewa in a post last week said “as I am concerned before announcing billions in FDI dollars the cash crisis is the low hanging fruit.

“I won’t go into the most obvious which is confidence crisis within the banking sector. Trust is the new currency in the banking world….(CLICK HERE TO READ)”