Zim News Blog -NEWS NETWORK

Crime Reporter 

POLICE in Southlea Park, Harare, are appealing for information which may lead to the arrest of a male suspect only identified as Arnold who is wanted in connection with the murder of Stanford Matongo (35) at Hopley Shopping Centre on Saturday. 

Arnold allegedly stabbed the victim once on the ribs with a sharp object after an argument over an undisclosed issue during a beer drinking spree.

In another case, Police in Borrowdale have arrested Nomore Chirembwe (26), Steven Mutasa (21) and Tafadzwa Kapeta (32) over a killing in Hatcliffe Extension, Harare last Friday in which Devoted Chimufombo (23) died. 

The suspects accused Mr Chimufombo of provoking them during a beer drinking spree at a night club before assaulting the victim indiscriminately. They later stabbed the victim once on the left back knee with a knife and fled. The victim succumbed to the injuries he sustained.

Police are appealing for information which may lead to the arrest of the fourth suspect only identified as Dee, who is being sought in connection with this case. Anyone with information about his whereabouts should contact any nearest police station.

Elsewhere, police in Kariba have arrested Chipengo Mpande (22) in connection with a murder last Thursday in which Fragment Chari (26) died. The suspect accused the victim of having an affair with his estranged wife before stabbing him once on the left side of the stomach with an okapi knife.

The victim was rushed to Kariba District Hospital where he died on admission.

Herald Correspondent

THE legal row between Bezbets, a betting company in Harare, and one of its punters is now on a single path with the company being prosecuted for not paying out the customer after the State declined to prosecute the winner.

During the vetting of the counter-claim, the reverse case was declined prosecution.

Bezbets was last month brought before the courts for allegedly defrauding a client of US$5 400 he had won after playing a game. The company is being represented by its manager Mr Robson Chinamasa in that matter and he entered a plea of not guilty on behalf of the firm to the fraud charges.

The trial is expected to start this Friday before Harare magistrate Mr Simon Kandiyero.

Prosecuting, Ms Faith Mavhudzi alleged that on October 26 on the Bezbets online platform, the complainant alleges that he placed a bet on the roulette with a stake of US$394 which gave him a potential win of US$5 400. The complainant alleges he won the bet and proceeded to the shop to withdraw his win of US$5 400. But the court heard that Bezbets refused to make the pay-out of US$5 400 and instead offered US$1 800.

The customer refused and made a police report.

Nelson Gahadza-Senior Business Reporter

MINIMUM interest rates for borrowers remain at 130 percent a year as the Reserve Bank of Zimbabwe’s Monetary Policy Committee keeps the bank policy rate at that level, while reaffirming its commitment to continue with the tight monetary policy stance that has brought about the prevailing economic stability.

The bank said resolutions of the latest meeting of the committee sought to complement the recently announced fiscal measures in the national Budget for next year. 

The policy interest rate influences the evolution of the main monetary variables in the economy, including consumer prices, exchange rate or credit expansion, among others.

Both fiscal and monetary, the Finance Ministry and the Reserve Bank, instituted a plethora of measures to stabilise the exchange rate and reduce inflation, which is projected to end the year slightly below 20 percent.

It means the cost of lending in local currency terms will remain high, as the central bank looks to adjust lending rates in line with the level of inflation.

The bank said its MPC resolved to pursue a tight monetary policy stance to safeguard the prevailing macroeconomic stability and ensure that inflation expectations remained anchored in the short to medium term.

“Considering the prevailing macroeconomic environment, the MPC resolved to maintain the current bank policy rate at 130 percent and the medium-term bank accommodation facility interest rate for the productive sector, including individuals and MSMEs, at 75 percent, which rates will be reviewed in line with inflation developments from time to time,” said RBZ Governor Dr John Mangudya in a statement.

The MPC met on Friday last week and deliberated on the recent macroeconomic developments in the country and the 2024 national Budget presented on November 30, 2023.

Dr Mangudya said the committee also recommended that the Government extend the fiscal and non-fiscal incentives for foreign direct investments to diaspora investments in the country, given the importance of diaspora remittances in the economy.

According to the Monetary Policy Committee, foreign currency inflows increased by 2,3 percent to US$9,44 billion as of October 31 this year, compared to US$9,23 billion generated during the same period in 2022, demonstrating the currency generation capacity of the country.

Dr Mangudya said the foreign currency inflows have been supported by diaspora remittance inflows, which have consistently surpassed foreign direct investment, portfolio investment, and official development assistance since 2009. 

“Diaspora remittances alone contributed 16 percent of the country’s foreign currency inflows as of October 31, 2023. Thus, the MPC underscored the need to leverage diaspora remittances for development as part of a broader package of measures to cushion the economy from recurring global shocks,” he said.

The committee noted that the requirement by the Government in June that companies settle an increased proportion of tax obligations on quarterly payment dates in local currency had created the much-needed demand for local currency, which is critical to sustaining exchange rate and inflation stability.

“The MPC underscored the need for the Government to continue increasing the proportion of taxes settled in local currency to sustain the optimal mix of dual currencies,” he said.

Among the measures that achieved the desired stability was the value for money, which scrutinised all invoices for Government work to make sure payments reflected the correct prices in the market, which limited the flow of excess liquidity into the market, which had put pressure on the exchange rate.

The measures were also aimed at instilling discipline and curbing speculative behaviour, targeting the exchange rate and the broader macro-economy.

In addition, the Reserve Bank, on its part, hiked bank policy rates from 80 percent to 200 percent at that time, aimed at reducing speculative borrowing and stabilising the exchange rate.

Gold coins were introduced as an alternative investment, helping to mop up excess liquidity in the market.

According to RBZ, the introduction of the wholesale foreign exchange auction, on the back of the recent liberalisation of the exchange rate, saw the parallel market premium decline from a peak of over 140 percent in May 2023 to around 35 percent in November 2023.

Yeukai Karengezeka–Court Correspondent

A POLICE officer who ordered a constable to free five suspected thieves accused of stealing cellphones, is now before the courts on charges of criminal abuse of duty as a public officer.

A junior police officer, Ignatious Magejo, tipped off the superiors about Forbes Dombo’s conduct, leading to his arrest.

Dombo appeared before Harare regional magistrate Mr Donald Ndirowei yesterday and was remanded in custody pending his bail ruling.

Prosecutor Mr Anesu Chirenje alleged that on November 15 at ZRP Budiriro, five men were arrested and detained at the station on allegations of theft. Three cellphones were recovered from them. 

However, the following day, Dombo allocated the docket to Constable Manwere and instructed him to treat the case as disorderly conduct and made the five to pay a US$5 fine each to be set free. 

Dombo did not exercise due diligence in handling the case as he was supposed to instruct the investigating officer to treat the recovered cellphones as exhibits and investigate the theft case.

Victor Maphosa-Mashonaland East Bureau

A committee has been set up by Government to investigate allegations of corruption at the Vehicle Inspectorate Department (VID) over decades-long accusations that drivers’ licences are being corruptly issued.

Statistically, it is reported that Zimbabwe experiences a traffic collision every 15 minutes, an average of 38 people are injured per day, and on average five deaths are recorded per day and the Government is now taking stern measures aimed at saving lives from road traffic accidents.

In a speech read on his behalf by Deputy Minister Joshua Sacco during the World Remembrance Day of Victims of Road Traffic Accidents held in Chivhu, Mashonaland East on Friday last week, Transport and Infrastructural Development Minister Felix Mhona said the Government was determined to get to the bottom of the alleged rot at VID.

“Some have raised concerns on possible corruption at VID in issuance of driver’s licences,” he said. 

“May it be known to all that in line with the zero tolerance to corruption policy clearly pronounced by our President, Dr ED Mnangagwa, I have set up a committee to investigate any such malpractices. 

“I urge Zimbabweans to make representations to the committee and provide necessary details to enable me to get to the bottom of the problem, and deal decisively with it.

“It is disturbing to note that this year alone up to September 30, already some 38 482 crashes have been witnessed on our roads resulting in 1 545 fatalities, and leaving some 7 294 people injured.” 

“This is despite all efforts by Government and the Traffic Safety Council of Zimbabwe to raise awareness and enforce compliance to the road users. 

“In this regard, as we amend the Traffic Safety Council Act to transform it into a Traffic Safety Agency, a key aspect of that legislative review will be to acknowledge the need for increased reliance on technology to enforce road regulations. 

“Further, noting that even under the best scenario, we may still witness some road crashes, Government has decided to set up a Road Accident Fund. In this respect, as a Ministry, we are committed to ensure the operationalisation of the Road Accident Fund within the first half of the year. 

“Officials working on this assignment are, therefore, guided to ensure that this target is not missed, and the Deputy Minister and I will be calling for monthly meetings to be updated on progress, and not on problems or reasons for delays.” 

On enforcing speed limits on public service vehicles, Minister Mhona said by early next year, all operators should by then finished installing relevant devices or gadgets permitting such enforcement.

“My Ministry is concerned at the level of speeding witnessed on our roads resulting in some cases, in fatal road crashes,” he said. “Of particular concern is the fact that the racing on our roads is now being practiced even by public service vehicles including buses, and kombis. In response, Government this year promulgated SI 119 0f 2023 on speed limiting devices.

“As Zimbabweans will appreciate, the implementation of SI 119 of 2023 taking effect beginning of 2024, there will be no excuses for non-compliance as adequate time has been given for operators to fit the relevant gadgets. I, therefore, urge all P.S.V operators and drivers to take heed and prepare accordingly.”