Zim News Blog -NEWS NETWORK

PRESIDENT Emmerson Mnangagwa, is once again extending an olive branch to many of his disaffected erstwhile Zanu-PF comrades – including former vice president Joice Mujuru, as he seeks to unite the long-divided ruling party, it has emerged. Zanu-PF insiders who spoke to the Daily News yesterday also said Mnangagwa was “fully aware” of how the […]

The post LATEST: Mnangagwa approaches former Vice President Joice Mujuru and ex CIO Minister Nicholas Goche first appeared on My Zimbabwe News.

NOT even the ravaging global COVID-19 pandemic could stop controversial businessman and socialite Genius “Ginimbi” Kadungure from hosting a sparkling annual all-white birthday party at his Domboshava mansion over the weekend. Ginimbi usually hosts the party outside Zimbabwe with South Africa, Botswana and Australia being his venues of choice in the past, but this time, […]

The post GINIMBI'S ALL-WHITE PARTY: NO masks...Joy as Ginimbi dances with woman with BIG backside (VIDEOS) first appeared on My Zimbabwe News.

A man appeared in court on Tuesday accused of “insulting the president” after posting a video WhatsApp status of a woman criticising a call by President Emmerson Mnangagwa to “pray and fast” for divine intervention against the coronavirus in June. Victor Majoni, 35, a farm manager in Umguza, allegedly posted the status on June 14 […]

The post Do you think before you speak? Man in hot soup after messing up with President Mnangagwa on WhatsApp first appeared on My Zimbabwe News.

Source: Currency manipulators on RBZ radar | The Herald

Dr Mangudya

Africa Moyo

Deputy News Editor

Suspected black market currency dealing is constantly being monitored by the Reserve Bank of Zimbabwe (RBZ) and the Postal and Telecommunications Regulatory Authority of Zimbabwe (Potraz) to curb the menace and curtail speculative currency trading and rate manipulation.

The RBZ, through its Financial Intelligence Unit, is “closely watching every movement of money” through mobile money platforms and bank transfers, sources say.

The auction system has stabilised the exchange rate used in commercial transactions and while there is a modest premium in the black market that rate has also stabilised over the past few months, both because of reduced demand with the effective auction system and because of a raft of measures to reduce liquidity for speculative transactions.

The RBZ is keen to keep watch of illegal dealings to ensure the exchange rate and price stability achieved in the last few months following a raft of measures announced by monetary authorities to restrict the use of mobile money platforms, including capping transactions at $35 000 per week and restricting subscribers to using one mobile money account.

Potraz director-general Dr Gift Machengete told delegates during World Post Day commemorations last Friday at Gokwe Centre that his agency will continue to work with the RBZ to clamp down on illicit currency dealings.

“Inasmuch as the diversity of technology had brought financial inclusion and convenience, I would like warn all those unscrupulous elements who are conducting illicit activities using the various technologies available, to desist from such as we will leave no stone unturned in bringing the culprits to book.

“We applaud Government for the various steps taken to counter these nefarious activities, which were driving up the inflation rate in the economy and thus exposing consumers to various vulnerabilities.

“We will continue to work hand in glove with our colleague regulator, the RBZ, to ensure there is stability in our respective sectors.”

RBZ Governor Dr John Mangudya could not be reached for comment yesterday, but he recently told The Herald that further steps would be taken to ensure currency and price stability, as the RBZ seeks to have monthly inflation remaining low, at below five percent in the last quarter of the year.

The positive outlook is also supported by the increase in productivity in real sectors of the economy due to availability of foreign currency from a formal and dependable auction market.

Some currency manipulators, including mobile money agents, had become the centre of illegal money dealings which saw speculative behaviour driving up the black-market rates and as a knock-on effect driving up prices from March to June.

But on June 26, Government started imposing limits on transactions on all mobile-based money platforms: One Money, MyCash, EcoCash and Telecash.

The RBZ and Government first suspended mobile money agents and later made the suspension permanent. Merchant accounts were converted into one-way systems, so merchants could continue receiving money but ad to move this money to their bank accounts to spend it.

Individual transactions, the only spending now permitted on mobile platforms, was limited up to $5 000 a day for the convenience of the transacting public but now individuals are allowed to accumulate these daily limits for a week.

Bulk payments and mobile platforms, used by NSSA and the Government to pay pensions and those receiving social security allowances, are permitted at the discretion of the authorities but are not an automatic right.

All the unprecedented measures were necessitated by the need to protect consumers on mobile money platforms that were being abused by “unscrupulous and unpatriotic individuals and entities” to create instability and inefficiencies in the economy, said the RBZ.

Since then, prices have generally stabilised together with the exchange rate.

The post Currency manipulators on RBZ radar appeared first on Zimbabwe Situation.

Source: ‘2021 budget must address civil servants’ grievances’ | Newsday (News)

by VENERANDA LANGA

FINANCE minister Mthuli Ncube has been urged to solve civil servants’ poor remuneration in his 2021 budget statement due next month.

The issue came out yesterday during pre-budget consultations by the Parliamentary Portfolio Committee on Budget and Finance which is currently going around the country collecting views on the 2021 budget.

Different people also called for a pro-poor budget with social protection nets to take care of the vulnerable people, who include people with disabilities (PWDs), orphans and people with albinism.

“Any budget must mitigate against attainment of sustainable development targets, and currently schools have opened, but teachers are not in the classrooms and doctors are always on strike because of poor remuneration. If the fiscal policy stance of 2021 does not solve salary issues, then we will reverse the gains that we had made in the education and health sectors,” David Philamoyo said.

A representative from the Zimbabwe Congress of Trade Unions (ZCTU) said government must review its taxation systems which have been severely depleting the incomes of poor people.

“As workers, there are two things that ensure that we survive, and these are salary increases or tax systems that do not leave people highly taxed. People that earn below the poverty datum line must not be subjected to taxes. We also want job creation and my suggestion is that agriculture must get the biggest chunk of the budget as its produce can also create jobs at other sectors that use agricultural products for value addition,” the ZCTU representative said.

Representatives from Transparency International Zimbabwe (TIZ) said the 2021 national budget must support social protection by building more clinics, as well as to support water and sanitation services to vulnerable communities.

Esther Mabunze, from Zimbabwe Caregivers Network, said the current $200 cushion given to orphans was too little and must be increased to $2 000.

“Government policy is that when a child who is at an orphanage reaches the age of 18 they must be discharged from an orphanage, but our view is that the person is still too young and requires tertiary education. Government must set aside funds to assist orphans with tertiary education,” Mabunze said.

A representative from the Womens Coalition of Zimbabwe said government must include an allocation for students’ data costs in the 2021 budget given that most learning is now being done virtually.

PWDs demanded government budgetary support in terms of capital for self-help projects, hearing aids, surgical shoes and wheelchairs, crutches and other essentials which they said were very expensive and beyond the reach of many.

People with albinism said their grants for creams must be increased to $3 000 from the current $300.

Other suggestions were that the health budget must be 15% of the national budget and the education budget 20% of the national budget, and must provide allocations for cancer treatment and rehabilitation centres for drug and substance abuse which is now rampant in the country.

The post ‘2021 budget must address civil servants’ grievances’ appeared first on Zimbabwe Situation.