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Source: Ex-Zesa boss Chifamba acquitted – NewsDay Zimbabwe

High Court judge Justice Benjamin Chikowero has acquitted former Zesa chief executive officer Joshua Chifamba of criminal abuse of office charges.

BY DESMOND CHINGARANDE

Chifamba was jointly charged with former Energy minister Elton Mangoma and Zent Enterprise managing director Teererai Luis Mutasa.

The trio was facing criminal abuse of office charges for allegedly awarding a US$3 million contract to a South Korean company without following due processes.

Chifamba had approached the High Court for review of the lower court judgment in which his application for discharge was dismissed by magistrate Francis Mapfumo at the close of the State case.

Justice Chikowero in his ruling said magistrate Mapfumo agreed to the fact that Zesa was not a procurement entity and also not a statutory entity which was supposed to go to tender before entering into partnership with the South Korean company.

He said the court also accepted that the trio was not required by law to proceed via the tender route and they did not act contrary to their duties by engaging the South Korean firm without going to tender.

“This is where the problem is, the trial court accepted the argument. It is useful to reproduce the trial court’s findings in this regard. I extract them and they read, ‘virtually no evidence was led to prove that Chifamba was a public officer. Also there is no evidence which proves that Zesa Enterprise is a statutory board’,” the ruling read.

“The State alleges that the decision not to go to tender was a violation of board resolutions. Three accused persons might have violated their board resolutions by not going to tender but no board members came to testify that board resolutions were violated. There is also no evidence that they made a complaint.”

Chikowero said this positive finding by the lower court was in favour of the accused persons, meaning the State’s case was dead and buried but the trial court acquitted none.

Chifamba was represented by Oliver Marwa, Mangoma by Tonderai Bhatasara, while Mutasa was being represented by Givemore Madzoka.

Mangoma and Chifamba were accused of presiding over a tender deal that prejudiced Zesa of about $850 000 and nothing was recovered.

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Source: Mangudya likens money changers to coronavirus – NewsDay Zimbabwe

RESERVE Bank of Zimbabwe governor John Mangudya yesterday likened parallel market dealers to the coronavirus which is causing havoc to the economy.

BY VENERANDA LANGA

Appearing before the Parliamentary Portfolio Committee on Budget and Finance chaired by Felix Mhona (Zanu PF), Mangudya said parallel market foreign currency dealing was an “asymmetric economic warfare now introducing a shadow parallel banking system driven on speculative behaviour under what are basically ‘ponzi-like schemes”.

He declared an open war against money changers, describing them as demons that needed to be exorcised.

“There is some asymmetric economic warfare which cannot be touched or seen and it is more like the coronavirus warfare of the economy,” Mangudya said.

“Mobile banking platforms are largely used as industry by foreign currency dealers whereby they sell foreign currency on ponzi-like schemes and they are making money from money.

“When we freeze some accounts on mobile money platforms, it is not that we are hurting mobile money platforms, but we are trying to exorcise the demon because it is more of a Sodom and Gomorrah situation.”

Zimbabwe has seen a proliferation of parallel market dealers due to currency volatility, driving up inflation and a subsequent spike in prices of goods.

Mangudya said it was not money supply that was forcing the economy into a comatose, but “factors that are non-monetary”. Every country in the world, the RBZ boss said, has a parallel market, but in Zimbabwe, it triggers hikes in prices of goods with the speed of wind.

“Even if we put the official rate at 1:50 today, those guys will wake up tomorrow and put it at 1:60 because it is now an industry and we cannot catch it,” Mangudya added.

“We need to exorcise that industry and that is why we are serious as the Financial Intelligence Unit to look at the root cause. There is high unemployment, but Zimbabwean people are industrious and because it is a resilient economy they will find a shadow money market where they would work.”

He also said the RBZ had traced the serial numbers of the new $10 notes which were being displayed by an unidentified money changer and discovered that they had been dispensed by First Capital Bank.

Shurugwi South MP Edmond Mkaratigwa and Zvimba South MP Phillip Chiyangwa then suggested radical approach to dealing with the illegal money market by completely banning mobile banking and going back to basics and increase supply of bank notes.

“There is a thin line dividing businessmen and these people, so you need to deal with them,” Chiyangwa said.

Tatenda Mavetera (Zanu PF PR) said there was too much policy inconsistency which led to mistrust and hoarding, as well as preference to deal in the parallel market which offers higher rates than the formal money market.

But Mangudya said: “It is not about policy missteps, it is behavioural economics killing this country.”

On the COVID-19 response, Mangudya said failure by Zimbabwe to qualify for the International Monetary Fund loan would affect the country’s chances of taking off.

The IMF released US$21 billion to many African countries, with US$10 billion dished out to sub-Saharan Africa on concessionary terms of 0% interest rate and a grace period of more than five years.

Mangudya said the $18 billion COVID-19 package recently unveiled by President Emmerson Mnangagwa should be used to boost production.

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Communique of the 2014 National Council held at Morgan Tsvangirai House on 21 May 2020 We the leaders and members who constituted both the National Council and the National Executive of the former MDC before the demise of President Morgan Richard Tsvangirai came together this day and reflected on the following a) The context of […]

Source: Schools to open in 4 weeks | Newsday (News)

Government yesterday said it would take up to four weeks to open schools, firstly for examination-writing classes then gradually other classes in a phased approach.

By Harriet Chikandiwa

Speaking before the Priscilla Misihairambwi-Mushonga-led committee on Primary and Secondary Education, permanent secretary in the Ministry of Primary and Secondary Education, Tumisang Thabela, said they needed four weeks more for logistical purposes and planning so that they could be able to open schools in a phased approach.

“We need four weeks for logistical purposes so that we can open schools in phases, firstly considering the examination classes and we will ensure that there is training of school heads and teachers and provision of protective clothing,” she said.

President Emmerson Mnangagwa at the weekend eased the lockdown restrictions and allowed more activities, giving the green light to open schools for examination-writing classes, but did not announce dates.

Thabela said the first phase of opening would be focused mainly on Grade 7, “O” and “A” Level examination-writing students, while others will open on the next phase.

“The last phase will be opened to Grade 1 and 2, we will be looking at social distancing and infrastructure and resources in schools. This will be done after the other phases have been opened, there will be a three-week break between Grade 1 and 2 before we open for ECD (early childhood development),” she said.

“There is need for clean water sources within each school, handwashing detergents, sanitisers especially in urban schools where there are huge numbers of students, reusable masks for leaners, infrared thermometers and gloves for management of any suspected case.”

However, the ministry is worried over schools that have been turned into quarantine centres saying that would affect re-opening of those schools.

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TWO of the five Zimbabweans who were recently arrested for money laundering involving R142 300 [...]