Farai Dziva|The ban on the use of the US dollar as legal tender epitomizes total shutdown of government business, an MDC official has said.

Addressing a news conference at Morgan Tsvangirai House, Dr Tapiwa Mashakada said :This is the worst thing to do at a time the regime is totally surrounded by relentless challenges.

The country has no fuel, no electricity and no production and turning to the Zim Dollar as the main currency is really unfortunate.

This epitomizes total shutdown.”

President Emmerson Mnangagwa has hailed the reintroduction of the Zimbabwean dollar saying that the move has brought back the country to normalcy.

Mnangagwa said this while addressing the media on the recent scrapping of the multi-currency regime, on the sidelines of the ongoing inaugural Africa Wildlife Economy Summit in Vic Falls.

Watch video

We are not going to recognise this statutory instrument as a solution to the crisis, says @mdczimbabwe pic.twitter.com/6r2Z4kW9bl

— ZimEye (@ZimEye) June 25, 2019

VIDEO LOADING BELOW…

By Own Correspondent| Zanu PF youth Secretary Lewis Matutu has come under fire for allegedly extorting bigwigs threatening to expose them on alleged corruption dealings.

Matutu who named and shamed the bigwigs yesterday at a press conference is said to be asking for favours from some of the people who were named on the list.

The Zimbabwe Miners Federation (ZMF) executive, Ms Henerieta Rushwaya said it was just unfortunate that she was asked farm equipment by Matutu recently and she refused.

“It is just unfortunate that Matutu called me asking for farm equipment and I told him that I did not have what he was asking about and I was shocked that he named me among corrupt people in the country. That is ridiculous and I have recordings of his calls when push comes to the shove I am going to release the charts and recorded calls,” she fumed.

Sources said Matutu also savaged Wedza South constituency MP Tinoda “Tinmac” Machakaire for buying Warriors jersey for USD 10 000 saying the youthful businessman was supposed to give the money to the Youth League so that they can fund their programs.

“Tinmac was under fire last week for purchasing a warriors jursey and
these guys wanted the money to come to the Youth League so that they
use it.

Matutu was given money by Machakaire to use it at the Youth League but he is yet to declare the money so he must shut up,” he
said.

Contacted for comment, Machakaire said he could not comment on the matter.

Another Zanu PF youthful MP for Gokwe Nembudziya constituency Justice Mayor Wadyajena took his twitter account to slam Matutu, labeling him
an extortionist.

“We have backslid to the Grace era where G40 youths used extortion against citisens to avoid public lynching. A country can’t be dictated to by a bunch of youth at a presser. Do they even understand the consequences of alleging corruption by head of Reserve Bank Zimbabwe for Corruption,” he said.

UNIFREIT Zimbabwe marketing executive Lisbon Monda said maybe he was
mistakenly named because of false story published in a local weekly
newspaper.

Matutu was adamant saying those were just fabrications of people who were named.

“I am not blackmailing anyone and we are going head on,” he said.

1/ Good show @MatutuLewis it’s a start. However there are more names that you left out. Chitando, the one who controls the richest portfolio in the country&has compromised many youth. All the lithium deals are his&he has platinum involvement too.

— Sabhuku Temba P. Mliswa (@TembaMliswa) June 25, 2019

“Years after Emmerson and his lot are gone SI 142 of 2019 will be remembered as the turning point.Their Sarajevo.That moment it became clear even to the most ardent,that they had outlived their usefulness.That they had become a threat not only to the country but to themselves too,” said Biti while posting on Twitter.

Today, the 25th of June 2019, we submitted a petition at the Office of the President and with the Clerk of Parliament. We did this in terms of the laws and the constitution of Zimbabwe in light of the political crisis obtaining in the country. Accordingly, we gave the President up to the 1st of July 2019 to act on the crisis or face peaceful but UNRELENTING and UNWEIDLING PROTESTS and NATIONAL SHUTDOWN.

If you support this position, please click on the link below and sign the attached petition. Kindly also share it with friends and relatives as widely and as extensively as possible using all social media platforms from twitter, facebook, snapchat, instgram, whatsaap, email and many more. We will keep you updated on the next course of action. The time has come, to act together in concert as a nation in defence of our beloved country and future generations to come.

In the meantime, we ask you to utilise the notice given to the government to prepare yourselves for the FINAL SEASON OF UNGOVERNABILITY. We will need to stork up food provisions, water, data bundles (anticipate closure of the internet and be ready TO COORDINATE using VPN and other similar platforms). We have initiated this process after extensive consultations and incessant demands for action led by Tajamuka/Sesjikile Campaign from YOU-THE PEOPLE.

We therefore expect MAXIMUM SUPPORT and CO-OPERATION from YOU and even from our beloved civil servants whose intelligence continue to be insulted by this rogue and greedy regime. This also applies to our armed forces from the police CIO and the military. We are all affected together as CITIZENS and we owe it to ourselves to pressure government to fix the economy and the politics or ship out. Please follow this page for further updates as we await response from the relevant authorities. We STAND!

Own Correspondent| Former Vice President Joice Mujuru says the  statutory Instrument 142 of 2019 gazetted by Finance and Economic Development Minister Mthuli Ncube on Monday will not work.

Ncube on Monday banned the multi currency system and introduced a new currency called the Zimbabwe Dollar.

Said Mujuru, “We can’t work with miracle economic policies, no it won’t work waking up RTGS and Bond now being Zimbabwe Dollar. That is illegal and l once said it.”

The Opposition MDC  said the government has ambushed the nation by imposing the new dollar.

“Despite government’s promise that it would introduce a new Zimbabwe currency in the next nine months while it addresses the fundamentals, the regime today just ambushed the nation and reintroduced the Zimbabwean dollar as the only legal tender in local transactions. This means that the multi-currency regime, which provided some modicum of decency and predictability, has been thrown out of the window in favor of the volatile local currency that is not backed by adequate gold and foreign currency reserves.

“In spite of SI 142, it is important to state that trust and confidence, which any transacting public must have before they use a currency, cannot in themselves be gazetted.

Today’s decision shows the lack of coherent, prudent and predictable policy, which is important to retain trust and confidence in a country’s economy. Policy consistency and predictability are key tenets for any economy to succeed.”

President Emmerson Mnangagwa set to address the media on the recent scrapping of the multi-currency regime, on the sidelines of the ongoing inaugural Africa Wildlife Economy Summit in Vic Falls

Zimbabwe is a crazy place to live in, but at times like these we need to keep our perspective. Fuel queues, empty shelves, the constant stream of social media messages complaining about everything and claiming that tomorrow is Armageddon. Sometimes you simply have to get away from it all.

Last week my son and I fled the City of Harare for a fishing trip on the lower Zambezi. We had been invited by a good friend and after a 6 hour drive we came out of the bush to see the great sweep of the Zambezi River in front of us at the Chiwore River mouth. For the ignorant that is about 100 kilometres above Caborra Bassa Dam in Mozambique and about the same distance from Chirundu.

It was hot but a breeze was blowing up the river and the river itself was very full. Lots of weed coming down and a bit dirty – we were told the Kafue flood gates were open and this was flushing out the downstream river before it joined the Zambezi. However, the main influence was the new generation capacity at the Kariba Dam – still one of the largest in the world with 2000 megawatts of generation capacity. All turbines were working.

We were greeted by the staff at the Camp and settled in to our lodges which opened out to the river and were open to the breeze, but kept the resident wild life out. Green lawn cropped down to the roots by the Hippo at night and the massive Acacia trees for shade completed the picture, the dining room/bar area had an infinity pool and Gary spent a bit of time in the water trying to cool off.

We had a marvellous four days on the river. We all caught some decent fish and I lost the largest of course!! Surrounded by wild life of all shapes and sizes and being totally spoiled by the staff who included a superb Chef who seemed determined to make sure we went home a few kilos heavier than when we came.

On the first night our host threw a dinner party for Lynn Taylor who heads up an initiative to support the National Parks staff with equipment and facilities such as boats, radio communications, water and power in their camps.

She was accompanied by a former army type who now specialises in tracking and hunting down poachers in the vast game reserves that are spread along the river. The local National Parks staff attended and we were informed that the one Ranger at the dinner was probably one of the best in Africa.

At first light we were on the river and on the first day I caught a 15 and a 12-pound tiger – both of which are quite reasonable fish and giving me a great fight in the process. The Zambezi Tiger Fish is not only a beautiful species but possibly one of the best game fish in the world.

It has a mouth of teeth that will take a finger off in a second and leave you thinking you never had so much blood in you. Fish as small at 2 to 5 lbs will give you a great fight, especially on the river where they battle all the time against the fast currents and the need to catch their prey.

We drifted over massive pods of Hippo and caught the delicate Chessa for bait and in the process caught some quite decent fish. What we did not use as bait went to the Yellow Billed Kites who trailed our boat looking for scraps and being a nuisance. But I must say that watching those migrants flying in close proximity made you appreciate their incredible flying skills.

We were not appreciated by the Hippo and one rose up next to the boat and gave Gary a fright. Close up two tonnes of Hippo is quite a sight. The week before one big bull had grabbed a boat in its jaws and holed the boat so badly that they had to race to the shore where it sank in shallow water.

No cell phones, no internet and no queues or complaints – just sun, water and the wonderful low veld bush and the riverine forest. Can there be any better experience than floating down the Zambezi with your lines out and the sun going down in the west?

Then the strike and your reel screaming and the task of setting the hook and getting the fish to the boat with him leaping out of the water some 70 metres away and shaking his head in an effort to throw the hook. Often with Elephant grazing on the bank or in the reeds nearby. I am not a beer drinker, but sometimes I am tempted when you see how much pleasure the guys get from a cold beer at that point.

The Chiwore River does not flow in the winter, but it has a large sand bank at the point where it enters the main river. It was here during the Liberation war when three senior Police Officers slept one evening during a canoe trip to the Coast from Chirundu.

While they slept a large group of Guerrillas crossed the main river and entered Zimbabwe to join the war. They passed a few metres from the three men without either knowing they were there. The sand bank shielded the three and saved their lives.

But the river has no memory of those things, it simply lives its life out accepting all who come to it for water or food, or in our case a need to put the problems of our world back into perspective and get a break from the pressures of our daily lives. My son is a Pastor and on a month’s sabbatical from the Church and I could sense the tensions and weariness falling away from his shoulders. His excitement when he caught his first decent fish was palpable.

On Wednesday at about 17.00 hrs we heard two shots on the Zambian side of the river. It sounded like a 500 – a very heavy weapon and was followed by sound of an axe being used to cut out the tusks. We notified Parks to hear that they had also heard the shots and had contracted Zambia.

It took the Zambians 24 hours to get there and when they did the vultures and other scavengers were already busy. It turned out to be an old bull Elephant and the poachers were far away by the time the Rangers arrived = had we been able to respond we would have been able to detain the poachers and hold them until the Zambian people arrived. Perhaps this should be allowed or permission granted to go in immediately when such an incident is heard or observed.

All too soon we were on our way home – this time via the road to Kanyemba where a British company is drilling for oil or gas. Then up to the escarpment and home via Mashonaland Central. We passed through small towns where there were no queues – because there was no fuel at all. Then driving into Harare in the late evening getting home to a hot shower and an early night.

In the morning it was clear the world around us had not changed, no miracles had occurred and we were short of many things. But in perspective they seemed less large and intimidating. We knew the real Zimbabwe was out there waiting for us whenever we needed a real break. Just in case you think I boast here is my larger fish and my Zambezi Valley host.

State Media|SIX men armed with guns raided a house in Bulawayo’s Famona suburb and got away with US$30 000, a gun, ammunition, a safe with an undisclosed amount of cash and a vehicle.

The incident occurred at a house along Inverness Road around 7PM on Friday. Bulawayo acting police spokesperson Inspector Abednico Ncube confirmed the incident.

“Police in Bulawayo are investigating an armed robbery that took place in Famona,” he said.  

A police source who cannot be named for professional reasons said the robbers ambushed the house owner (name withheld) as he was driving into his yard.

“They covered him with a pistol and ordered him out of the car. The six surrounded the vehicle. They threatened to shoot and kill him if he disobeyed their orders,” said the source.

The suspects, said the source, demanded money from the victim and indicated that they knew he had a large sum of money kept in his house.

“They force marched him into his home and ransacked it.

“The robbers got away with a hunting rifle and about 15 rounds of ammunition. They stole a safe with cash. They took about US$30 000 and a Nissan 2.7 single cab pickup vehicle which they used to get away,” he said.

The news crew found the house deserted on Sunday.  

Last week, six armed robbers pounced on a house in Bulawayo’s city centre and brutally attacked four people with machetes before they got away with US$6 687, RTGS$1 000, five grammes gold and three digital gold scales.

The incident happened at a cottage along Herbert Chitepo Street and 1st Avenue. Two of the victims who sustained deep cuts on their hands and legs were admitted to Mpilo Central Hospital while two were discharged.

Police are on record advising members of the public to avoid keeping large sums of money at their homes, as the money attracts criminals. They always advise residents to deposit excess cash in banks.

By Tapiwa Mashakada and Miriam Mushayi| Wheels have finally come off as government has been cornered and forced to involuntarily de-dollarize without a plan.When government introduced bond notes we warned that the surrogate currency was bad money that was going to chase good money.

The bond notes failed. When government introduced the RTGS dollar we warned that the RTGS would fail and it happened. In both cases we gave solid advice based on evidence based research. In fact we chided and mocked the government challenging it to call the 2 currencies, the Zim dollar and accept that they had failed.

On 24th June government abolished the multi-currency regime which was introduced in 2009 exactly 10 years ago in order to thwart hyperinflation. In the multiple currency basket the USD had become the de facto currency of choice as legal tender. Subsequently government introduced surrogate currencies into the basket, namely the bond notes and RTGS. This sparked an unprecedented parallel market regime which fuelled general price increases in the economy as retailers indexed prices to us$ in-order to hedge themselves against inflation. By the 24th June 2019, the 2 surrogate currencies had been debauched and reduced to worthless legal tender as the economy had completely redollarised. Prices were quoted in us dollars or its RTGS equivalent. Everybody rushed to collect USD as a way to safeguard or hedge against hyperinflation which has climbed to 300%.

The Transitional Stabilization Program failed to tame the financial crisis. Instead the TSP was like setting a match stick on dry grass. It is clear that market confidence had dropped and all monetary/fiscal statements were blunted and of no force or effect.

So where are we now? Clearly Zimbabwe is at a crossroads. The country is jumping from a frying pan into a ball of fire. The Zim dollar is coming involuntarily and prematurely as a knee jerk reaction. The key fundamentals required for the sustainability of a Sovereign Currency include:
# a budget deficit lower than 5
# A trade surplus
# At least 6 months import cover
# A healthy Capital Account
# Productivity and evidence of high levels of capacity utilization
# low levels of inflation (single digit)
# Confidence
#Realistic exchange rate.

These fundamentals are not yet in place. In the absence of these fundamentals, the impact of the introduction of the Zim-dollar will result in the following ten (10) policy implications:

1. The market will have no confidence in the Zim dollar
2. Retailers will withdraw goods from the shelves and cause artificial shortages
3. This will drive prices upwards
4. The parallel market will come back with a vengeance since government has introduced domestic currency without a floating or managed exchange rate for it.
5. The market will reject the Zim dollar and go back to the USD on its own.
6. Government has no capacity to enforce the use of the Zim dollar on the ground
7. Government will resort to the printing press and increase money supply growth as it seeks to increase civil servants’wages and meet its day to day obligations.
8. This will feed into hyperinflation
9. Since government is the sole printer of the sovereign currency it means that through underhand dealings the Reserve Bank may continue to drive the black market by buying forex to meet import requirements. We will see new notes on the streets.
10. Zimbabwe will again have a useless and debauched currency which only serves sentimental reasons.

Alternative Solutions:

1. At present Zimbabwe cannot afford a paper currency which has no economic value. The only feasible option is to adopt the Rand and price all goods and services in Rand as an interim measure pending an application to join the RMA

2. National Political Dialogue between Zanu PF, MDC, Civil Society, Labour, Business and Churches inorder to arrest the economic melt-down.

Conclusion:
Zimbabwe is clearly facing a political crisis. We dont need a rocket scientist to tell us. The economy is gridlocked in the jaws of politics. There is a complete shutdown of gvt as all social services have collapsed while civil servants are earning poverty wages under hyperinflationary conditions. Clearly gvt is cornered and has gone into a panic mode. Gvt should wake up and smell the coffee. Chickens are coming home to roost. Stabilization does not lead to prosperity. It leads to poverty. As we have always said, when it comes to economic affairs, Zanu PF is certainly clueless.

THE trial of two pro-democracy campaigners charged with plotting to overthrow President Emmerson Mnangagwa’s government got off to a false start on Monday 24 June 2019 after the State indicated that it was not yet ready to commence with trial despite undertaking to do so at the last remand proceedings.

Pastor Evan Mawarire, the leader of His Generation Church and Zimbabwe Congress of Trade Unions (ZCTU) President Peter Mutasa were supposed to stand trial at Harare Magistrates Court beginning Monday 24 June 2019 on charges of subverting a constitutional government as defined in section 22 of the Criminal Law (Codification and Reform) Act.

According to the State, Pastor Mawarire and Mutasa organised anti-government protests in January with the aim of toppling President Mnangagwa’s administration from power.

However, their trial failed to commence as prosecutors sought for a postponement of the matter and the placement of the duo on further remand. In seeking for a postponement, prosecutors argued that they wanted Pastor Mawarire and Mutasa to be indicted for trial at the High Court after alleging that the allocation of the trial date at the Regional Court in Harare was made in error.

However, Pastor Mawarire and Mutasa’s lawyers Alec Muchadehama and Tonderai Bhatasara of Zimbabwe Lawyers for Human Rights (ZLHR) opposed the State’s application and challenged the placement of the duo on further remand arguing that the State had taken long in placing them on trial.

Harare Magistrate Jessie Kufa, who presided over the matter, will hand down her ruling at 11:15 on Tuesday 25 June 2019 on the State’s application for further placement on remand of Pastor Mawarire and Mutasa.

Earlier on, Harare Magistrate Barbra Mateko remanded ZCTU Secretary-General Japhet Moyo out of custody to 6 August 2019 after dismissing his application for refusal of further remand. Moyo, who is represented by Muchadehama, had challenged his continued placement on remand without being given a trial date considering that it is almost six months since he was arrested in January 2019 and charged with subverting a constitutional government as defined in section 22 of the Criminal Law (Codification and Reform) Act.

Meanwhile, Magistrate Mateko will on Tuesday 25 June 2019 deliver her ruling on an application filed by the State seeking to revoke bail granted to Obert Masaraure, the leader of the Amalgamated Rural Teachers Union of Zimbabwe (ARTUZ).

The State claims that Masaraure, who is out of custody on bail on charges of subverting constitutional government, breached his bail conditions by not reporting at Zimbabwe Republic Police station in Hwedza and by not residing at Chemhanza High School in Hwedza in Mashonaland East province, where he is employed as a teacher, as ordered by the High Court.

However, Masaraure’s lawyers Jeremiah Bamu and Doug Coltart of ZLHR disputed the State’s claims and told Magistrate Mateko that the ARTUZ leader had reported to the police and was religiously staying at his given residential address and hence his bail must not be revoked as punishment for breach of conditions.

Magistrate Mateko will hand down her ruling at 2:15 PM on Tuesday 25 June 2019.

Apart from Masaraure, Pastor Mawarire, Mutasa and Moyo, 16 other Zimbabweans are due to stand trial on charges of subverting a constitutional government.

By Own Correspondent- Six men armed with guns raided a house in Bulawayo’s Famona suburb and got away with US$30 000, a gun, ammunition, a safe with an undisclosed amount of cash and a vehicle.

The incident occurred at a house along Inverness Road around 7PM on Friday.

Bulawayo acting police spokesperson Inspector Abednico Ncube confirmed the incident.

“Police in Bulawayo are investigating an armed robbery that took place in Famona,” he said. 

A police source who cannot be named for professional reasons said the robbers ambushed the house owner (name withheld) as he was driving into his yard.

“They covered him with a pistol and ordered him out of the car. The six surrounded the vehicle. They threatened to shoot and kill him if he disobeyed their orders,” said the source.

The suspects, said the source, demanded money from the victim and indicated that they knew he had a large sum of money kept in his house.

“They force marched him into his home and ransacked it.

“The robbers got away with a hunting rifle and about 15 rounds of ammunition. They stole a safe with cash. They took about US$30 000 and a Nissan 2.7 single cab pickup vehicle which they used to get away,” he said.

The news crew found the house deserted on Sunday. 

Last week, six armed robbers pounced on a house in Bulawayo’s city centre and brutally attacked four people with machetes before they got away with US$6 687, RTGS$1 000, five grammes gold and three digital gold scales.

The incident happened at a cottage along Herbert Chitepo Street and 1st Avenue.

Two of the victims who sustained deep cuts on their hands and legs were admitted to Mpilo Central Hospital while two were discharged.

Police are on record advising members of the public to avoid keeping large sums of money at their homes, as the money attracts criminals.

They always advise residents to deposit excess cash in banks.-StateMedia

Said Mujuru, “We can’t work with miracle economic policies, no it won’t work waking up RTGS and Bond now being Zimbabwe Dollar. That is illegal and l once said it.”

Former Vice President Joice Mujuru says the  statutory Instrument 142 of 2019 gazetted by Finance and Economic Development Minister Mthuli Ncube on Monday will not work.

Ncube on Monday banned the multi currency system and introduced a new currency called the Zimbabwe Dollar.

Said Mujuru, “We can’t work with miracle economic policies, no it won’t work waking up RTGS and Bond now being Zimbabwe Dollar. That is illegal and l once said it.”

The Opposition MDC  said the government has ambushed the nation by imposing the new dollar.

“Despite government’s promise that it would introduce a new Zimbabwe currency in the next nine months while it addresses the fundamentals, the regime today just ambushed the nation and reintroduced the Zimbabwean dollar as the only legal tender in local transactions. This means that the multi-currency regime, which provided some modicum of decency and predictability, has been thrown out of the window in favor of the volatile local currency that is not backed by adequate gold and foreign currency reserves.

“In spite of SI 142, it is important to state that trust and confidence, which any transacting public must have before they use a currency, cannot in themselves be gazetted.

Today’s decision shows the lack of coherent, prudent and predictable policy, which is important to retain trust and confidence in a country’s economy. Policy consistency and predictability are key tenets for any economy to succeed.”

“We have been assured that most of the things that we have been requiring are actually already on their way through the Honourable Minister (Obadiah Moyo).”

State Media|President Mnangagwa has assured doctors at public hospitals that Government will ensure they are fully stocked with drugs and medical equipment while looking at their welfare.

The Head of State and Government met a delegation of doctors at State House in Harare yesterday in a meeting arranged by First Lady Auxillia Mnangagwa, who is also the Ambassador of Health and Child Care, as a follow-up to an earlier meeting this year.

The meeting mainly centred on the working environment for medical practitioners and their tools of trade.

Head of delegation Dr Faith Muchemwa told journalists after the meeting that they were leaving the State House satisfied. She said they were invited by the First Lady, who has shown deep concern about their work.

“She initially invited us so that she could understand what was really going on because she cared about the health of the population,” she said.

“She arranged for us to meet His Excellency.” Dr Muchemwa said the meeting went well and expressed confidence that their plight could soon be a thing of the past.

“It has been a really good meeting and we were listened to,” she said.

“We have been assured that most of the things that we have been requiring are actually already on their way through the Honourable Minister (Obadiah Moyo).”

Minister Moyo said the President was going to utilise his influence to be able to get the requested products and ensure that all hospitals are fully stocked.

In an interview, Public Service, Labour and Social Welfare Minister Dr Sekai Nzenza said President Mnangagwa was concerned about the livelihoods of civil servants hence Government’s intervention.

State Media|TREASURY is expected to adjust civil servants’ salaries in line with the prevailing economic environment in the coming days, a Cabinet minister said yesterday.

In an interview, Public Service, Labour and Social Welfare Minister Dr Sekai Nzenza said President Mnangagwa was concerned about the livelihoods of civil servants hence Government’s intervention.

Salaries of most workers in the country have been eroded by wanton increases in the prices of goods and services.

Dr Nzenza said the Minister of Finance and Economic Development Professor Mthuli Ncube will announce a civil servants salary hike in the coming days.

“At this stage the Minister of Finance is looking at it (salary increase). He would be making an announcement in the next few days. I can’t give you the exact date because he has to do the figures. But he would be looking at that in light of the current situation. We know it’s not easy; this is why we are looking at the cost of living adjustment,” said Minister Nzenza.

“You’ll remember that from January to March we gave them cushioning allowance and then there was the cost of living adjustment. But we realised that the economy is not doing good and people are hurting because of prices and we have now once again been talking to the Minister of Finance and he is seriously looking at it and at the same time the President is very concerned.”

Government in April announced a $400 million cost of living adjustment package for civil servants which saw the lowest-paid employee taking home over.

This was part of Government’s move to cushion its workers from the obtaining economic challenges.

President Mnangagwa, Prof Ncube and then acting Public Service, Labour and Social Welfare Minister Monica Mutsvangwa on Friday met nurses unions to discuss their welfare resulting in them calling off a scheduled strike.

Zimbabwe Teachers’ Association (Zimta) chief executive officer Mr Sifiso Ndlovu yesterday expressed confidence that there is going to be a review of the civil servants salaries.

“There is definitely going to be a review of the salaries,” said Mr Ndlovu.

He said teachers are failing to meet their financial obligations and Government has admitted and indicated that it will address the issue.

Prof Ncube said key fundamentals to support a local currency, including controlled Government expenditure and budget surpluses, were now in place.

Government has removed the multi-currency regime and restricted domestic transactions to local currency, renamed Zimbabwe dollar, in an effort to enhance the affordability of goods and services by the majority.

Finance and Economic Development Minister Professor Mthuli Ncube yesterday told state media that Government had taken the decision abandon the multi-currency system after noting that the market was choosing to price a number of goods and services in US dollars when the majority of citizens earned the local unit.

He said apart from enabling everyone to transact, those with and without access to foreign currency, the new measures would give the Reserve Bank of Zimbabwe (RBZ) full monetary policy control to defend the value of the domestic currency.

Prof Ncube said key fundamentals to support a local currency, including controlled Government expenditure and budget surpluses, were now in place.

“Basically, we have made another step forward by moving away from a multi-currency regime to a mono-currency regime where the domestic currency (Zimbabwe dollar) is now the sole legal tender for transactions within Zimbabwe,” said Prof Ncube.

“What was happening out there in the market was that the market was choosing a mono-currency, being the US dollar, and that is untenable because we do not control the sourcing of it (and) the supply of it.

“We cannot even conduct monetary policy on the back of it.”

The departure from the multi-currency regime dovetails with President Mnangagwa’s remarks in an interview with Bloomberg in Mozambique last week that it was necessary to have currency reforms in the country.

Talk of a reverting to local currency has also been insistent over the past year as Government has taken pragmatic steps to finally move to a new local currency.

Essentially, the latest move is arguably a penultimate stop before the adoption of the fully monetised local unit.

Yesterday, Prof Ncube said using the Zimdollar would make it easier to transact on the domestic market with forex reserved for external payments.

“We also know that in some quarters we were not even allowed to transact in US dollars because of things like sanctions and other restrictions. So, it’s necessary to move on and use a currency that you can control.

“And also, what we are trying to do is restore full monetary policy where the Central Bank can conduct monetary policy using the array of tools that are necessary for managing monetary policy such as interest rates, use of a monetary policy committee to govern things like targeting money balances or even targeting inflation,” he said.

Prof Ncube said people will use the existing RTGS dollar, bond notes and bond coins, which means “nothing changes really”.

“What changes is the name of the currency (to Zimbabwe dollar) plus the fact that it is now the only legal tender in Zimbabwe,” he said.

Prof Ncube said the use the Zimbabwe dollar is expected to result in an increase in US dollars flows into bureaux de change and banks as people convert their money to transact.

He added the new measures speak to discussions Government recently had with its workers.

“Basically, the multicurrency regime, which had by the way become a mono-currency in favour of the US dollar, was favouring those with access to US dollars; those with access to US dollars were facing no change in inflation at all for the last three years.

“So we were now creating a society of haves and have-nots; those who have access to US dollars and those who don’t. Those who don’t are faced with RTGS inflation while those who have US dollars are faced with zero inflation.”

Through Statutory Instrument (SI) 142 of 2019, known as Reserve Bank of Zimbabwe (Legal Tender) Regulations, Government abolished the use of multiple currencies such as British pound, United States dollar, South African rand, and Botswana pula, among others.

Zimbabwe had used a basket of currencies since 2009.

The Zimbabwe dollar became the sole legal tender with effect from yesterday.

It will have same boundaries, extent in space, time, or meaning as the RTGS dollars, which entails all bond notes and approved forms of electronic money in Zimbabwe.

However, nothing changes regards operation of foreign currency (nostro) accounts, which will continue to be designated in the currency they are held.

Our economics suffers from too much state control and excessive politics otherwise known as economic dirigisme.  

By Nelson Chamisa|GUERRILLA ECONOMICS & ambush currency measures are ill-advised, destructive & confidence-draining. Zim-dollarization requires that macroeconomic fundamentals,public confidence, trust,fiscal discipline, political stability and legitimacy be in place for it to be meaningfully sustainable.

Our economics suffers from too much state
control and excessive politics otherwise known as economic dirigisme.

It is my considered view that certain key benchmarks need to be achieved before the local currency can be sustainably introduced in order to anchor the local currency.

These benchmarks include: attaining a sustainable GDP growth rate of at least 7%; low and stable inflation; reducing the high debt ratios to very low and sustainable levels; increasing the level of savings and investments to at least 25% of GDP; reducing the balance-of-payments deficit to less than 5% of GDP; increasing the export level to at least 25% of GDP; high levels of productive capacity; political stability and legitimacy.

More importantly, foreign-currency reserves need to be built up to sustainable levels to anchor the Zimbabwe dollar and to defend it in the event of a currency or speculative attack.

We have the SMART economic blueprint as our alternative to the current voodoo approach to economics.

Think differently.

Nelson chamisa 24 June 2019

We will be paying Eskom US$10m this coming week, Finance Minister Mthuli Ncube told an informal media briefing Sunday.

Zimbabwe will this week pay US$10m to South Africa’s power utility Eskom as part of plans to unlock at least 400MW to ease power shortages in the country.

The southern African country, which according to power utility Zesa was producing 1200MW as of Sunday, needs at least 1700MW per day to meet demand. Over the years it has relied on Eskom and Mozambique’s HCB for additional power.

However a combined debt of US$83m to the two entities had meant limited supply of just 50MW from each.

We will be paying Eskom US$10m this coming week, Finance Minister Mthuli Ncube told an informal media briefing Sunday.

He said this (payment to Eskom), as well as negotiations goverment had had with the Mozambican government last week, will ease load shedding which had gone up to stage 2, or 19 hours without power.

Meanwhile more and more Zimbabwean companies are turning to off grid power supplies with solar being the prefered alternative.

Crocodile breeder Padenga Holdings is close to self sufficiency and has put up solar plants producing 1MW.

Telecomms giant Econet Wireless in April commissioned a 466KW solar power plant at its Willowvale industrial complex in Harare, the largest commercial and industrial carport and roof mount installation of its kind to be deployed in the country.

Old Mutual is also working on plans to install solar panels on the rooftop all its buildings with several having gone through the process.

Platinum miner, Zimplats also said it is conducting feasibility studies to put up a solar plant that will cater for its energy needs.

A technical partner has already been engaged to conduct a feasibility study for a solar farm believed to be able to provide 160MW.

Alick Macheso’s band members reportedly assaulted a Ruwa motorist in the wee hours of Saturday morning.

The band members, who were on their way from a performance at Club Manake, were involved in an accident with the motorist only identified as Mao.

Following the accident, there was a heated argument as the motorist allegedly requested Macheso’s drummer Givemore Chokumanyara who was driving the other vehicle to produce his drivers’ licence. This did not go well with Chokumanyara and fellow band member, Selemani Mpochi also known as Majuice.

The band members allegedly assaulted Mao, before taking off with his identification documents.
“They (band members) took my licence and national identification documents but refused to produce theirs. “When I insisted they then ganged up on me,” said Mao.

Mao said he had not made a police report hoping to find an amicable solution with Chokumanyara. “If we fail to resolve the issue I will be left with no other option but to report the matter to the police,” he said.

Macheso’s manager Tich Makahamadze confirmed the accident but proffered ignorance over the assault allegations.

“Yes some of our band members were involved in a minor accident but no one was hurt and the car sustained minor damages.
“I however do not know anything about any of our band members being involved in a physical altercation with anyone,” he said.State media

Farai Dziva|Pictures of controversial Chegutu West Member of parliament Dexter Nduna sitting at a vending site, selling freezes and soft drinks have gone viral on social media platforms.

It has been reported that during his free time, Nduna sells sweets, biscuits among other items.

Many wonder if this is a PR move or a way of raising extra cash.

Farai Dziva|Under pressure Finance Minister Mthuli Ncube has said the decision to ban the use of foreign currency as legal tender in Zimbabwe is a step towards a return to normalcy.

In a statement Ncube said :”I can say the ban on the use of foreign currency is a step towards the country’s return to economic restoration.

We implemented similar measures to protect local industry when we imposed a ban on importing selected products.”

He added :You can still keep your hard currency but you cannot use it to buy goods over the counter.”

Flashback- "Good money drives away bad money", Says Finance minister Mthuli Ncube pic.twitter.com/IO1zSmI7tq

— ZimEye (@ZimEye) June 24, 2019

“Matutu asked for Mining Equipment from me on Friday and I told him to produce a mining certificate and if that makes me a Cartel leader, then so be it,” said Rushwaya.

Today, the nation was shocked at the gazetting Statutory Instrument 142 which basically reintroduces the Zimbabwe dollar, even in theabsence of addressing the economic fundamentals to support the local currency.

Despite government’s promise that it would introduce a new Zimbabwe currency in the next nine months while it addresses the fundamentals, the regime today just ambushed the nation and reintroduced the Zimbabwean dollar as the only legal tender in local transactions.

This means that the multi-currency regime, which provided some modicum of decency and predictability, has been thrown out of the window in favor of the volatile local currency that is not backed by adequate gold and foreign currency reserves.

In spite of SI 142, it is important to state that trust and confidence, which any transacting public must have before they use a currency, cannotin themselves be gazetted.

Today’s decision shows the lack of coherent, prudent and predictable policy, which is important to retain trust and confidence in a country’s 
economy. Policy consistency and predictability are key tenets for any economy to succeed.

It remains to be seen how the market will respond to the madness, but the knee-jerk monetary policy introduced in the dead of the night is 
reminiscent of the rushed decisions of this regime.

The fuel price increases announced by Mr Mnangagwa himself in the dead of night and that caused a furore in the country’s economy are a case in point.

With the current madness in government, it is important to state that the people reserve their right to express their displeasure at the free-falling economy and the knee-jerk policies that those in authority introduce when they so wish.

MDC: Defining a new course for Zimbabwe.

ZANU PF YOUTH LEAGUE UK & EUROPE
ZANU PF PRESS STATEMENT ON THE ANTI CORRUPTION CAMPAIGN

24 JUNE 2019

To all Zanu PF Youth League UK/Europe members

Ref: Statement on the Anti-Corruption Campaign

The Zanu PF Youth League of the United Kingdom/Europe district stands in
solidarity with our Executive as lead by Cde Togarapi Pupurai and Cde Lewis
Matutu together with their entire Executive Team on the recently launched Anti- Corruption Campaign.

We stand proudly with our leadership on the demonstration of courage that was
nostalgic of the ground-breaking spirit that helped craft and defend the letter
and spirit of what we now term our Party’s constitution/Gwara Remusangano.

Today we witness the resurgence of fortitude amongst our membership as a
direct consequence of a Youth league leadership that has chosen to lead from
the front, evoking the ancestral awakening of our forbearers whose hands
shaped the very foundation of the revolutionary buildirng they spoke from.

As the Youth League UK/Europe district we pledge our utmost support towards a
corruption free society. It is equally our deepest conviction that the Youth
League is the introspective impulse of the Party as custodians of the rich heritage
of our national liberation struggle and the founding ethos thereof.

Hence why it appears history has adorned us with a time such as this to which the pre-eminence of courage is demonstrated by this time a group of intergenerational
comrades whose instinct is to finish the nationalist project without a clamour of
fear or a sense of opportunism.

Therefore, we applaud this stance and hope that all the proposed recommendations are promptly acted upon with a sense of urgency as we deem this as not only a crystallising nmoment for our national reform agenda but a clear portrayal of why our tag line which is The Peoples Party”.

In conclusion, we borrow from Franklin D. Roosevelt by saying “Only Thing We
Have to Fear Is Fear Itself”

Zanu PF Youth League UK/Europe The Youth League Executive Team of the
United Kingdom/Europe
CC
Chairman
Cde Farai Muvuti
Vice Chairman
CDE Rocafella Zimba
Acting Secretary of Administration
CDE Ken-Patrick Mpame
Secretary of Finance
CDE Tangunda Mangere
CDE Munyaradzi Mangwana
Political Commissariat

Kind Regards
Cde Farai Muvuti
Chairperson

By Own Correspondent- MDC Alliance leader Nelson Chamisa has reportedly fired 145 party employees recruited by the party’s founding leader Morgan Tsvangirai as sharp divisions rock the party, the state media has reported.

It is said the mistrust has been heightened by clashes in the election of provincial executive members and the recent selection of national executive council members with allegations of factionalism being the order of the day.

Insiders insisted that things were not well in the party over a number of hanging issues.

A close source privy to the latest development in the beleaguered opposition party confirmed saying those affected served in Tsvangirai and former secretary general Douglas Mwonzora’s office.

“It’s true, roughly 130 to 145 employees were dismissed. The security personnel, directors, coordinators and office orderly seconded by the former prime minister Tsvangirai were fired with immediate effect,” said the source.-StateMedia

More to follow…

GUERRILLA ECONOMICS & ambush currency measures are ill-advised, destructive & confidence-draining. Zim-dollarization requires that macroeconomic fundamentals,public confidence, trust,fiscal discipline, political stability and legitimacy be in place for it to be fully sustainable.

— nelson chamisa (@nelsonchamisa) June 24, 2019

by Own Correspondent- The leader of the United African National Congress (UANC), Gwinyai Muzorewa has described the political dialogue (POLAD) between President Emmerson Mnangagwa and some of 2018 losing presidential candidates as a delaying tactic.

Speaking to the Daily News, Muzorewa said that the dialogue will not result in any transformation.

Muzorewa said:

This dialogue is a political filibuster. Mnangagwa has said ‘tinongotonga, tichingotonga imi muchingovukura (we will continue ruling while you are barking)’. The people who are participating in the dialogue are barking and Zanu PF is ruling.

I don’t think they will change anything with that dialogue. The participants especially without (MDC president Nelson) Chamisa, the people who are participating lost and there is nothing they are going to change with that dialogue.

Muzorewa said that his party was not participating in the dialogue as they viewed it as a joke. He added that his party was not after a fancy lifestyle which is the only good thing the dialogue is offering to the participants. Muzorewa added that his party is driven by the need to address the plight of the general populace.

He also said that Mnangagwa was clueless on how to solve the issues. Muzorewa added:

There is no vision, if he does have a vision he would not call these people (opposition parties) saying tell me how to run a country.

He should have known how to run a country; the dialogue is for Mnangagwa to hear how to run a country that is why I am not participating in that dialogue.

Ref: Statement on the Anti-Corruption Campaign

The Zanu PF Youth League of the United Kingdom/Europe district stands in solidarity with our Executive as lead by Cde Togarapi Pupurai and Cde Lewis Matutu together with their entire Executive Team on the recently launched Anti-Corruption Campaign.

We stand proudly with our leadership on the demonstration of courage that was nostalgic of the ground-breaking spirit that helped craft and defend the letter and spirit of what we now term our Party’s constitution/Gwara Remusangano.

Today we witness the resurgence of fortitude amongst our membership as a direct consequence of a Youth league leadership that has chosen to lead from the front, evoking the ancestral awakening of our forbearers whose hands shaped the very foundation of the revolutionary building they spoke from.

As the Youth League UK/Europe district we pledge our utmost support towards a corruption free society.

It is equally our deepest conviction that the Youth League is the introspective impulse of the Party as custodians of the rich heritage of our national liberation struggle and the founding ethos thereof. Hence why it appears history has adorned us with a time such as this to which the pre-eminence of courage is demonstrated by this time a group of intergenerational comrades whose instinct is to finish the nationalist project without a clamour of fear or a sense of opportunism.

Therefore, we applaud this stance and hope that all the proposed recommendations are promptly acted upon with a sense of urgency as we deem this as not only a crystallising moment for our national reform agenda but a clear portrayal of why our tag line which is ‘The Peoples Party’.

In conclusion, we borrow from Franklin D. Roosevelt by saying —Only Thing We Have to Fear Is Fear Itself’.

Kind Regards
Cde Farai Muvuti
Chairperson

By Own Correspondent- Addressing delegates at the ongoing wildlife summit in Victoria Falls, President Emmerson Mnangagwa has said the country’s ivory and rhino horn reserves has the capacity to finance the country’s conservation efforts until 2039.

Said Mnangagwa:

“Currently Zimbabwe has about US$600million worth of ivory and rhino horns stocks, most of which, is from natural attrition of those animals. If we are allowed to dispose the same under agreed to parameters, the revenue derived therefrom would suffice to finance our operational conservation efforts for the next 20 years!”

Below is the full text of his address

It is with great pleasure that I welcome you all to Zimbabwe and especially to the Victoria Falls National Park and World Heritage Site, one of the world’s seven natural wonders. As many of you may be aware, Victoria Falls is situated in the Kavango-Zambezi Transfrontier Conservation Area (KAZA) which is the home of the African elephant.

We are delighted to host this inaugural Wildlife Economy Summit; the first of its kind on the African Continent which is being held under the theme ‘Communities for Conservation, Harnessing Conservation Tourism and Supporting Governments’. This resonates with our renewed effort to ensure that our citizens benefit from the sustainable management of natural resources and wildlife.

It is my sincere hope that you have experienced the warm Zimbabwean hospitality, since your arrival. I am optimistic that our deliberations will go a long way towards the realisation of the conservation agenda of our great Continent. Thriving wildlife resources have a tremendous potential to be instrumental in sustainable socio-economic development through associated wildlife oriented businesses such as eco-tourism, hunting and photographic safaris among other benefits.

We must therefore, continue to utilise platforms such as this one, to explore innovative ways to leverage wildlife resources to grow our economies; eradicate poverty; achieve broad based empowerment, create decent jobs, especially for women and youth. It is equally important to guarantee biodiversity within our ecosystems.

Your Excellencies, Ladies and Gentlemen;
This Summit is being held when the tourism sector in Zimbabwe is on the rebound. We are making concerted efforts to rejuvenate our tourism and hospitality industry so that it meaningfully contributes towards the attainment of our national vision to become a middle income economy by 2030.

To this end, achieving peaceful human-wildlife co-existence and sound conservation principles are a top priority to my government. The Communal Areas Management Programme for Indigenous Resources which is a testimony of the need for more robust community-based natural resources management strategies, continue to be reinvigorated.

In addition, to encouraging community participation, my Government is promoting an integrated concept of conservancies which involves strong private sector participation. Conservancies have also become important partners in developing tourism activities and products in non-traditional tourism areas, thereby enhancing broad based empowerment.

As a result, we now have conservancies in the Save Valley, Bubye Valley and the Malilangwe Wildlife Reserve, among others. These initiatives have seen notable annual population growth of some species such as elephants, rhinos, lions and buffaloes.

Distinguished Guests, Ladies and Gentlemen;
Zimbabwe subscribes to the founding principles of the Convention of International Trade in Endangered Species, CITES. We remain committed to the adherence of its protocols and rules. We are gravely concerned by the one-size-fits all approach, where banning of trade is creeping into the CITES decision making processes. We call upon the institution to resist the temptation of being a ‘policing institution’ and instead be a developmental one which promotes the intricate balance between conservation and sustainable utilisation of all wildlife resources.

In relation to the conservation of elephants, the Savanna elephants, which are predominantly found in Southern Africa, constitute approximately 50% of the continent’s elephant species. This bears testimony to our region’s success in championing sustainable conservation programmes. In addition, the region has the largest range area and elephant numbers which extend beyond designated wildlife areas to include communal areas. This success must be duly recognized, while our voices and concerns given due consideration.

Distinguished Delegates;

The global wildlife community is going to CITES COP 18 in Geneva, Switzerland in August this year. As a country and region, we remain guided by our principle of sustainable utilisation of wildlife. We are determined to ensure that conservation is both sustainable and beneficial to host communities.

Zimbabwe, as with other African countries pursuing in-situ wildlife conservation, requires significant funding, for the conservation agenda. Communities that are living adjacent to protected areas continue to experience unprecedented human-wildlife conflicts. They risk being maimed or killed and their crops destroyed. They must experience the value and developmental benefits of living with, and conserving wildlife.

At present, our country’s land area under protected area and wildlife production is approximately twenty-six percent of the total land size. This is an indication of the enormous value we place on wildlife.
However, the management of such expansive land area requires a significant amount of funding and investment. We welcome partners and investors to optimally manage and unlock value from our wildlife towards helping build ‘nature-based economies’. As a Government, we will continuously ensure a conducive operating environment for wildlife management and conservation.

As you are aware, Safari hunting is a vital cog in successful wildlife economies. Proceeds obtained from hunting are reinvested towards the provision of game water, fencing and law enforcement, among other conservation initiatives. We continue to call for the free trade in hunting products as these have a positive impact on the national and local economies of our countries.

Currently Zimbabwe has about US$600million worth of ivory and rhino horns stocks, most of which, is from natural attrition of those animals. If we are allowed to dispose the same under agreed to parameters, the revenue derived therefrom would suffice to finance our operational conservation efforts for the next 20 years!

Going forward, Zimbabwe encourages a world that embraces the principle of a shared responsibility where natural resources are utilized in accordance with the principle of sustainability. We encourage a process where accruing benefits from natural resources are fairly and equitably shared among communities living within wildlife areas. This way, the wildlife resources add value and improve the quality of life of local communities.

Distinguished Delegates;

My Government is committed to play its part in addressing the challenge of poaching and has instituted a raft of measures to curb the scourge. These include the implementation of the SADC Protocol on Wildlife Conservation and Law Enforcement; Park and Species Management Plans and Policies as well as combating the use of poisons and encouraging aerial surveillance support and application of new technologies, among others. We are also strengthening law enforcement to combat internal and cross-border wildlife crime.

As a stakeholder, we stand ready to increase our participation in other regional, continental and global conservation campaigns.

Your Excellencies; Ladies and Gentlemen;
I once again welcome you to Zimbabwe and I invite you to find some time off the busy schedule to tour the nearby majestic Victoria Falls and also visit our National Park were you will most likely encounter all the members of the big five.

With these remarks, it is now my singular honour and pleasure to officially declare the Inaugural, Africa Wildlife Economy Summit, officially opened.

I thank you.

Short response by JP Mangudya to our youth league‼️

“It’s nonsense, I don’t do that, at the moment I am actually working for my country,” pic.twitter.com/01RZC9wKfM

— ?? ZANU PF PATRIOTS ?? (@zanupf_patriots) June 24, 2019

Twenty-eight farmers received payments of RTGS$55,000 ($8,748) each this past week, Ben Gilpin director of the Commercial Farmers Union said.

Zimbabwe’s government began compensating white commercial farmers whose land was expropriated, an agriculture lobby group said.

Twenty-eight farmers received payments of RTGS$55,000 ($8,748) each this past week, Ben Gilpin director of the Commercial Farmers Union said.

More of them will receive payments this week, he added.

Zimbabwe’s government in 2000 seized farms belonging to mostly white commercial farmers and replaced them with black farmers, saying the move was meant to redress colonial imbalances.

The southern African country has budgeted RTGS$53 million ($8.4 million) this year for compensation.

Last month, 737 farmers registered for the compensation, according to the Treasury.

Bloomberg

“I’ve been in government for 38 years as minister and I can’t remember when you ever had a budget surplus,” 

President Emmerson Mnangagwa and his finance chief possibly rushed to bring back the Zim Dollar to aid their move to pursue financing from the International Monetary Fund (IMF).

It has been reported that Mnangagwa was considering a Eurobond offering to rescue the drastic economic status of Zimbabwe.

“It is necessary that we have our own currency. I have faith that we’ll achieve that even before the end of the year or by the first quarter of next year,” said Mnangagwa.

Since, 2009 when the state decided to eliminate its own currency the country has been using different currencies such as the South African rand, U.S dollar, and its own RTGS and bond notes that are also affected by inflation on a daily basis.

Mnangagwa last week hinted the return of the dollar and its core relation to the IMF funding said his finance minister, Mthuli Ncube had prepared the ground for a new currency, starting with the first budget surplus.

“I’ve been in government for 38 years as minister and I can’t remember when you ever had a budget surplus,” he said, “now, this young man has been able to achieve a budget surplus in less than eight months. So it tells me that what he tells me is possibly true on these issues.”

Ncube said: “The government last month agreed on measures to re-engage with the IMF for the first time in more than a decade. Under the arrangement, known as a staff-monitored program, the fund will assess government’s economic progress by the end of January.”

“The first order of business is to clear the arrears and then move onto phase two, which is the bilateral discussions with the Paris Club.”

“If it works well in the first phase, it’s the same Paris partners who control those two big institutions that I was talking about, the same people. So if they accept supporting us on the same program with the European Investment Bank, surely they will support us on the bilateral phase as well.”

So ED thinks return of Zim dollar, fake money will stop the use of foreign currency.

‌Political analyst Dr Pedzisai Ruhanya has described the ban on the use of foreign currency by Emmerson Mnangagwa’ so government as political suicide.

So ED thinks return of Zim dollar, fake money will stop the use of foreign currency. Now RBZ will purchase new machines for printing massive useless notes. Back to 2007/8

It’s official. The Zimbabwe dollar is back. This is economic suicide!

This follows after the Government banned all foreign currency with effect from today using SI 142 of 2019. All transactions will  be settled using the Zimbabwe Dollar.

art of the Statutory Instrument 142 of 2019 reads:

Zimbabwe dollar to be the sole currency for legal tender purposes

2. (1) Subject to section 1 with effect from the 24th June 2019, the British pound, United States dollar, South African rand, Botswana pula, and any other foreign currency whatsoever shall no longer be legal tender alongside the Zimbabwe dollar in any transactions in Zimbabwe.

(2) Accordingly, the Zimbabwe dollar shall, with effect from the 24th June 2019, but subject to section 3, be the sole legal tender in Zimbabwe in all transactions.

I am not aware of any country which has no currency of its own, but that is not my field — I am a lawyer — but except for Zimbabwe,

President Emmerson Mnangagwa literally warned of his government’s imminent removal of the multi currency regime two days ago in Mozambique when he said his government Government had finalised modalities to introduce a new currency, which will be the sole legal tender in the country.

In an interview with business media outlet, Bloomberg, on the sidelines of the 12th US-Africa Business Summit in Maputo, Mozambique, on Thursday, the President said “it is necessary that we have our own currency” since it is presently difficult to determine the level of money supply in the economy.

“Then, of course, there is an issue which is critical also for any economy: this is the question of currency. I am not aware of any country which has no currency of its own, but that is not my field — I am a lawyer — but except for Zimbabwe, I haven’t been told of another country which doesn’t have its own currency.

“Even poor countries have currencies from what I hear, so we intend to introduce our own,” said President Mnangagwa.
The value of the new currency, he added, would be tethered to the country’s economic activities and assets.

He said the name of the local unit would be inconsequential as long as it meets the set objectives of sustainably growing the local economy.

“The name of the local currency? You know Deng Xiaoping of China? The cat doesn’t need to be white or black as long as it catches mice, so the name of the currency to me is not a critical issue; the critical issue is we must have a domestic currency by whatever name.

“We must have a domestic currency so that will be the currency which we will use for transactions in the country. Anybody who has US dollars or a tonne of pounds must go to the bank and change and transact . . . the money supply will relate also to our GDP; it will relate to the volume of assets we have; to development of infrastructure in the country,” he said.

South African Finance Minister Tito Mboweni recently indicated that it would be reasonable and sensible for Harare to begin using its own currency.

The Youths said that all the party members fingered in the corruption should do the honourable thing and not report for work until they have cleared the allegations made against them.

‌

The Zanu-PF Youth League led by its Deputy Secretary for Youth Affairs Lewis Matutu today made a number of allegations against senior business people and party officials over corruption.

The Youths said that all the party members fingered in the corruption should do the honourable thing and not report for work until they have cleared the allegations made against them. The Youth League said that it was going to lock out all the Zanu-PF officials from entering their offices until they have cleared the allegations.

The full list is as below

Tino Machakaire

John Panonetsa Mangudya

Wicknell Chivayo

Neville Mutsvangwa

Gibson Mhonda Unifreight

Tafadzwa Musarara (GMAZ)

Tongai Muzenda (MMCZ)

Henrieta Rushwaya (Zimbabwe Miners Federation)

Dr Shah – PCD

Prisca Mupfumira – NSSA Scandal

Obert Mpofu

Joram Gumbo

Jacob Mudenda – Speaker Of Parliament over Zinara Report

The announcement has long been expected in the country under the current regime which has been threatening on the move for a long time. The move leaves lots of uncertainty amongst Zimbabweans.

GOVERNMENT has outlawed the use of multiple currencies through new regulations that compel all forms of transacting to be done in local currency, now formally known as Zimbabwe dollar.

The announcement has long been expected in the country under the current regime which has been threatening on the move for a long time. The move leaves lots of uncertainty amongst Zimbabweans.

Through Statutory Instrument (SI) 142 of 2019, known as Reserve Bank of Zimbabwe (Legal Tender) Regulations, the Government abolished the use of British pound, United States dollar, South African rand, Botswana pula and any other foreign currencies, as legal tender.

Prior to the latest development, Zimbabwe used a basket of currencies collectively referred to as the multicurrency system, which was adopted in 2009 when the country scrapped its domestic currency.

Until today (Monday) payments in Zimbabwe could be made in any of the approved currencies that included the US dollar, British pound, South African rand, Botswana pula and RTGS dollar.

“Accordingly, the Zimbabwe dollar, with effect from 24^th June, 2019, but subject to subsection 3, be the sole legal tender in Zimbabwe in all transactions,” Statutory Instrument 142 says.

The new Zimbabwe dollar will have same boundaries, extent in space, time, or meaning as the RTGS dollars, which entails all bond notes and approved forms of electronic money in Zimbabwe.

“For the avoidance of doubt, it is declared that references to the Zimbabwe dollar are conterminous with references to the following;

“The bond notes and coins referred to in section 44B, the electronic currency prescribed for purposes of section 44C of the Act, that is to say the RTGS dollar.

“The above mentioned bond notes and RTGS dollars are at par with the Zimbabwe dollar, that is to say each  bond note unit and each RTGS dollar is equivalent to a Zimbabwe dollar and each 100^th  part of a RTGS dollar is equivalent to a Zimbabwean cent.”