FRESH FLOODS LOOM IN MANICALAND

A FRESH disaster looms in Manicaland after Provincial
Affairs minister Ellen Gwaradzimba warned yesterday that one of the province’s
largest dams in the mountainous Vumba area could breach, putting to risk the
lives of over 400 living downstream.

A FRESH disaster looms in Manicaland after Provincial Affairs minister Ellen Gwaradzimba warned yesterday that one of the province’s largest dams in the mountainous Vumba area could breach, putting to risk the lives of over 400 living downstream. The Mwayera Dam was extensively weakened following the Cyclone Idai deluge nearly two week ago that left hundreds of people dead and thousands

#CycloneIdai: Hundreds evacuated amid fears of dam burst in Zimbabwe

Zimbabwean authorities began evacuating residents from the cyclone-hit town of Chimanimani on Sunday after floodwaters weakened a dam wall. Source: #CycloneIdai: Hundreds evacuated amid fears of dam burst in Zimbabwe | IOL News Harare – Zimbabwean authorities began evacuating residents from the cyclone-hit town of Chimanimani on Sunday after flood waters weakened a dam wall. […]

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Zimbabwean authorities began evacuating residents from the cyclone-hit town of Chimanimani on Sunday after floodwaters weakened a dam wall.

Source: #CycloneIdai: Hundreds evacuated amid fears of dam burst in Zimbabwe | IOL News

Women wash clothes in a river of water running across a road that was created after Cyclone Idai in Chimanimani. Picture: Philimon Bulawayo/Reuters

Harare – Zimbabwean authorities began evacuating residents from the cyclone-hit town of Chimanimani on Sunday after flood waters weakened a dam wall.

The area is among those hit by cyclone Idai, which has left more than 145 people dead and several hundred missing in Zimbabwe. The storm made landfall late on March 14, leaving more than 750 people dead in Mozambique, Malawi and Zimbabwe.

“The Civil Protection Unit wishes to inform the public that Manyera dam wall in Vumba has weakened and all those downstream are advised to evacuate and go to higher places,” the unit said in a tweet. “Please if you have relatives in this area pass on this message at once.”

“The walls have shown signs of giving in and more than 1,000 families are in danger,” the unit’s director Nathan Nkomo told dpa.

Across the region, some 600 000 people have been displaced and at least 1.7 million have been affected by the cyclone, according to various UN agencies.

The effects of cyclone Idai are also being felt further afield. Uganda’s National Meteorological Authority said the climatic effects of the cyclone would affect weather systems along the coast, leading to a delayed rainy season.

Seasonal rains in Uganda usually start in early March and end in May, but instead, the country has been experiencing intense heat waves.

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In Zimbabwe, grief and hunger stalk storm victims

Eunica Simango sits with downcast eyes as she waits at a relief centre in Chimanimani. Source: In Zimbabwe, grief and hunger stalk storm victims | News24 Health risks heighten in Zimbabwe after Cyclone Idai Healthcare workers are concerned about increased health risks in cyclone-hit Zimbabwe after some HIV and AIDS patients living in the affected […]

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Eunica Simango sits with downcast eyes as she waits at a relief centre in Chimanimani.

Source: In Zimbabwe, grief and hunger stalk storm victims | News24

Healthcare workers are concerned about increased health risks in cyclone-hit Zimbabwe after some HIV and AIDS patients living in the affected areas lost their medication and health cards in the floods.

A rescued man is carried on a stretcher in Ngangu township, Chimanimani, eastern Zimbabwe, after Cyclone Idai hit the area. (Zinyange Auntony/AFP)

A rescued man is carried on a stretcher in Ngangu township, Chimanimani, eastern Zimbabwe, after Cyclone Idai hit the area. (Zinyange Auntony/AFP)

Chimanimani – Eunica Simango sits with downcast eyes as she waits at a relief centre in Chimanimani.A week ago, everything she owned, including a poultry run where she kept chickens, was swept away by a mudslide when Cyclone Idai, after lashing Mozambique, turned its wrath on eastern Zimbabwe.Yet this material loss is nothing compared to the gnawing absence of her teenage daughter, who was washed away in the raging tide.

She is one of nearly 200 people who are listed as missing, 30 of them schoolchildren, in addition to 139 confirmed dead.

“I lost everything,” Simango, 34, said.

“My house, my property, chickens. I am now surviving on handouts something I never imagined myself doing.

“The most painful thing is: I don’t know where my daughter is.”

Well-wishers set up the temporary shelter in a conference room at a local majestic Chimanimani Hotel to feed victims of the storm.

But resources in this impoverished country are slender, and there is no guarantee that the centre can stay open.

‘This is the situation’ 

At another relief centre, food too was meagre.

“Do with the little that we have,” volunteer Daina Mandevhana told the hungry.

“We should not expect to eat until our tummies are full or complain saying ‘at my house I used to have my tea with milk’,” she said.

“This is the situation we have, and we should accept it.”

Fears are growing of starvation in communities that have been cut off after winds and torrential rain smashed bridges and swamped or destroyed roads.

Families in Chimanimani are still rummaging through debris, hoping to recover remains of missing relatives.

Some people on long-term treatment for conditions such as HIV have lost their medication and appealed for urgent supplies.

President Emmerson Mnangagwa, after touring the area, said he had seen “unmitigated despair”.

Zimbabwe has declared a state of disaster and appealed for assistance. According to the UN, 200 000 people have been affected.

Crops and livestock have been destroyed, threatening enduring hunger and poverty for those who do survive.

Need for helicopters

“There are people who have lost their homes and property places in places like Kopa and Rusitu,” said Shawne Kidd, a local businessman who is helping in relief and recovery efforts.

He and other volunteers are running a feeding centre, in some cases digging into their own pockets to buy food for victims who lost their homes.

“The villagers want food but we have limited means of getting in and out. Roads were damaged and bridges broken.”

Kidd said the big problem was not lack of willpower, but the means to move things.

“There are hundreds of organisations willing to help,” he said.

“There is plenty of aid outside. The problem is getting it in. There is no airstrip. Helicopters are being used to bring in medical supplies.”

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PAAB clarifies reporting standards

Source: PAAB clarifies reporting standards | Daily News THE Public Accountants and Auditors Board (PAAB) says companies should use the United States dollar as presentation currency for 2018 financial statements. This was after several companies listed on the Zimbabwe Stock Exchange (ZSE) had delayed publishing their financial results for the period under review waiting for […]

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Source: PAAB clarifies reporting standards | Daily News

THE Public Accountants and Auditors Board (PAAB) says companies should use the United States dollar as presentation currency for 2018 financial statements.

This was after several companies listed on the Zimbabwe Stock Exchange (ZSE) had delayed publishing their financial results for the period under review waiting for guidelines from the regulator.

“Since there was no official and legal local currency prior to the 22nd of February 2019, in particular given the provisions of Statutory Instrument 33, the presentation currency of most entities in the country is expected to remain as the United States dollar as at December 31, 2018 and for the year then ended.

“This is a matter, however, that remains the sole prerogative of directors or those charged with governance of respective entities,” PAAB said in a statement. The accounting body noted that notes to the financial statements dealing with the functional and presentation currencies should be expanded to include a detailed description of currency and be appropriately referenced to the events arising after the reporting date note which will be expected to cover the introduction of the RTGS dollar, amongst other relevant developments.

Most companies obligated to publish their accounts including listed companies, banks and insurance companies had postponed release of their earnings for the just ended year as well as respective six months period earnings to December beyond their obligated deadlines citing functional and presentation currencies challenges which emerged following the October 2018 and the February 2019 pronouncements as well as emerging market dynamics.

This resulted in the local bourse also extending the publishing of results for publicly-listed firms by one month.  In its review the board noted that S.I. 33 of 2019 possibly presented challenges in terms of compliance with IFRSs due to possible conflict with IAS 21 for some entities.
IAS 21 requires the use of a spot rate in accounting for transactions whereas during the 2018 financial year, some entities experienced premiums and discounts on the official foreign exchange rate of 1:1 between the RTGS balances and Bond Notes and the USD.
On the other hand, some entities operating in Zimbabwe applied a multi-tiered pricing structure during the period under consideration, where a single product had different prices depending on the mode of payment, whether USD cash, electronic payment, mobile money or bond notes.

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Photos of MDC-T spokesperson Linda Masarira wearing Mnangagwa regalia set tongues wagging (SEE PICS)

Thokozani Khupe’s MDC-T party spokesperson Linda Masarira has set tongues wagging after she was photographed wearing Mnangagwa regalia. Masarira who hates the people’s favourite opposition leader Nelson Chamisa with a passion wore the ‘Zambia’ with Pre…

Thokozani Khupe's MDC-T party spokesperson Linda Masarira has set tongues wagging after she was photographed wearing Mnangagwa regalia. Masarira who hates the people's favourite opposition leader Nelson Chamisa with a passion wore the 'Zambia' with President Emmerson Mnangagwa’s face in what appears to be her husband’s rural home area. Critics are arguing that the photographs […]