ZCTU Slams Ostallos Over Premature Exit From May Day Celebrations

Source: ZCTU Slams Ostallos Over Premature Exit From May Day Celebrations Zimbabwe Congress of Trade Unions (ZCTU) secretary-general Japhet Moyo criticized Gift “Ostallos” Siziba, the former CCC deputy spokesperson, for prematurely leaving the Workers Day commemorations at Gwanzura Stadium on May 1 Moyo stated that Siziba left the event while ZCTU president Florence Mucha Taruvinga […]

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Source: ZCTU Slams Ostallos Over Premature Exit From May Day Celebrations

Zimbabwe Congress of Trade Unions (ZCTU) secretary-general Japhet Moyo criticized Gift “Ostallos” Siziba, the former CCC deputy spokesperson, for prematurely leaving the Workers Day commemorations at Gwanzura Stadium on May 1

Moyo stated that Siziba left the event while ZCTU president Florence Mucha Taruvinga was delivering her speech.

Moyo deemed Siziba’s actions unacceptable, asserting that they distracted the crowd. Siziba left after his request to address the audience was denied by ZCTU. Reads the statement:

The Zimbabwe Congress of Trade Unions (ZCTU) would like to clear the air regarding what happened during the May Day commemorations involving Mr Gift Siziba at Gwanzura Stadium.

Mr Siziba came to the stadium late and through his emissaries, asked for a slot to speak on behalf of CCC. After being told that the ZCTU had made a decision not to allow political parties to speak, more after the ZCTU President had spoken, he decided to leave the stadium in the middle of President Florence Mucha Taruvinga’s speech, distracting the attention of the crowd.

Unfortunately, spinners are claiming that he left because the ZCTU President had used the mantra “nyika inovakwa nevene vayo”.

It is also mischievous to twist the context in which the ZCTU President referred to the mantra. For the avoidance of any doubt she said the following:

“The mantra nyika inovakwa nevene vayo is indeed resonating with the inclusive Zimbabwe that we all want. But how does that happen with the level of inequalities that are currently obtaining where the citizenry is looking at the so-called Mbingas for crumbs? How do you explain a situation where an individual has access to millions of dollars they do not know how to use except dishing out when workers cannot afford one decent meal or send children to government school? We have seen the elderly in the streets selling anything to feed themselves and their great-great children when some people do not know what to do with the money”.

Unfortunately, people with their own agenda chose only a part of the whole paragraph to further their political agenda.

For the record, over the years the ZCTU has been inviting political parties that have Parliamentary representatives to its commemorations.

This year we invited all political parties with Parliamentary representatives and all of them were in attendance and we did not accord them the opportunity to speak that Mr Siziba wanted, that is why he walked out.

We expect decorum from our guests and they should respect our protocols and programmes.

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With ZiG Zimbabwe Expects to Finally Turn Its Back on Inflation

Source: With ZiG Zimbabwe Expects to Finally Turn Its Back on Inflation – BNN Bloomberg ZiG banknotes in Harare, Zimbabwe. , Bloomberg (Bloomberg) — Zimbabwe’s new gold-backed ZiG currency will banish sky-high inflation that’s hamstrung the economy and made the southern African nation a poster child for runaway price pressures, the central bank said. “ZiG […]

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Source: With ZiG Zimbabwe Expects to Finally Turn Its Back on Inflation – BNN Bloomberg

<p>ZiG banknotes in Harare, Zimbabwe.</p>

ZiG banknotes in Harare, Zimbabwe.

, Bloomberg

(Bloomberg) — Zimbabwe’s new gold-backed ZiG currency will banish sky-high inflation that’s hamstrung the economy and made the southern African nation a poster child for runaway price pressures, the central bank said.

“ZiG seeks to remonetize the economy to restore investor confidence and this will be done through restoring confidence in the currency itself,” Reserve Bank of Zimbabwe Deputy Governor Innocent Matshe said on Thursday in Johannesburg. “Key is achieving price and exchange-rate stability.”

The nation launched the ZiG – short for Zimbabwe Gold – in early April, marking its sixth attempt at a stable domestic currency since 2008, when inflation crossed billions of percent. Previous projects were similarly sunk by astronomical price pressures.

According to data released April 29, inflation was 57.5% in April, based on a blended measure of the now-abandoned Zimbabwean dollar and the US currency. ZiG-based inflation will be computed from May, the government says. But Matshe said price pressures were already cooling and the central bank sees them down to a 2% to 5% range by the end of the year.

Officials hope they’ve got it right this time by linking the unit to gold, while pledging not to print more ZiGs than can be covered by the nation’s reserves in order to finance government spending. That’s what destroyed previous attempts to float a local currency.

“This is a homegrown currency that will continue to engender confidence and trust in the Zimbabwean economy,” he told an investment conference. “The central bank will not be involved in financing the quasi fiscal activities of the government.”

Read more: Meet ZiG, Zimbabwe’s Latest Shot at a Stable Currency: QuickTake

The ZiG is backed by 2.5 tons of gold and $100 million in foreign currency reserves held by the central bank. The new unit’s introduction led policymakers to slash interest rates from 130%, a world record, to 20%.

The central bank began circulating ZiG notes and coins to the public this week. The largest denomination of the new local currency is 200 ZiG, worth $15, and authorities hope widespread uptake of the ZiG will help to reverse the local dominance of the greenback.

Central bank Governor John Mushayavanhu separately said the currency will probably gain against the dollar next month, because local companies will begin paying half of their taxes in the new unit.

“Come June when the government insists that people must pay their taxes — 50% in ZiG and 50% in other currencies — ZiG is going to be a sought after currency and its value is going to appreciate,” he told Star Fm radio in the capital, Harare.

The ZiG was quoted at 13.41 to the dollar on Thursday, according to central bank data on its website, compared with 13.56 per dollar on its April 8 launch.

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MANICALAND SCHOOLS REJECT ZiG

SCHOOLS in Manicaland are on a collision course with the
Government as they are flatly refusing to accept the recently introduced
Zimbabwe Gold currency— insisting on payment of full fees in foreign currency.

As if that was not enough, some learners t…

SCHOOLS in Manicaland are on a collision course with the Government as they are flatly refusing to accept the recently introduced Zimbabwe Gold currency— insisting on payment of full fees in foreign currency. As if that was not enough, some learners this week spent awkward hours in banks queues where purported network challenges in local currency transactions were being experienced.

NURSE QUITS UK FOR FARMING IN ZIM

A PIECE of advice that young pedigree Boer goat breeder, Mr
Peter Mukombe, always gives aspiring young farmers is to always start small
with the little they have and grow big from there.

His transformative goat farming journey testifies to this
after …

A PIECE of advice that young pedigree Boer goat breeder, Mr Peter Mukombe, always gives aspiring young farmers is to always start small with the little they have and grow big from there. His transformative goat farming journey testifies to this after he left the comfort in the United Kingdom and returned home to start a new life. Today, Mr Mukombe is one of the proudest, leading Boer goat

HOSPITAL’S PUMP AND PIPES STOLEN

A procurement officer and an administrator at Bindura
Hospital have appeared in court on allegations of stealing poly pipes and a
two-horsepower submersible pump from the institution.

The pair allegedly took the property to Mhangura for use in
their g…

A procurement officer and an administrator at Bindura Hospital have appeared in court on allegations of stealing poly pipes and a two-horsepower submersible pump from the institution. The pair allegedly took the property to Mhangura for use in their gold panning operations. Takudzwa Bruce Chirimuuta, the health services administrator and Peter Prince Matika, the procurement officer, appeared