Zim News Blog -NEWS NETWORK

GOVERNMENT has approved 37 investors who have shown interest to produce cannabis (mbanje or dagga) for medicinal or scientific purposes. This follows last year’s decision by Government to legalise cannabis production. Lands, Agriculture, Water, Climate and Rural Resettlement Deputy Minister Vangelis Haritatos said Government was overwhelmed by applications after more than 200 foreign and local

Banks have commenced trading in foreign currency at a rate of 2,5 to the United States dollar following the decision by the Reserve Bank of Zimbabwe (RBZ) to float the currency on Wednesday. This rate, according to observers, is likely to bring stability to the market. RBZ governor Dr John Mangudya announced the introduction of an inter-bank foreign exchange market while delivering his monetary

Source: Mnangagwa sidelines Chamisa in talks | Daily News

HARARE – President Emmerson Mnangagwa has side-lined MDC leader Nelson Chamisa in today’s national dialogue meeting involving presidential candidates that featured in last year’s harmonised elections.

MDC spokesperson Jacob Mafume yesterday confirmed to the Daily News that the party had not been invited to the crucial meeting, but insisted that as long as Mnangagwa chairs the process they are not willing to be part of it.

This comes after the party, which is the largest opposition, snubbed the first meeting called by the president recently.

“We responded to them by way of a letter on the first invitation. We have made it clear that we will attend a dialogue by a neutral arbiter. What they are having is a monologue,” Mafume said.

He said Mnangagwa had not responded to the letter written to him by the MDC when he made the first call for dialogue, adding that this subsequently resulted in them not being invited for today’s meeting.

While many had hoped the national dialogue would be facilitated by the National Peace and Reconciliation Commission (NPRC), the organisation’s chairperson Selo Nare said the issue was being handled by the Office of the President and Cabinet (OPC).

Asked if all the political parties had been invited to the meeting, Nare yesterday said: “I am only the moderator, I do not do the invitations; the invitations are done by the OPC. I have just been asked to come and moderate or to be the master of ceremony to use a simple word.”

He added: “We are involved as per invitation”.

Civic society organisations and churches have backed the national dialogue, which they say should not be restricted to political issues only.

Dominating this dialogue however, is the issue of legitimacy, following Chamisa’s contention that he won last year’s presidential elections.

In his argument, Chamisa claims Mnangagwa should not chair the meeting and that if he is genuinely willing to enter into formal negotiations, certain conditions have to be met.

Among his demands are mediation by a neutral third party recognisable to Southern African Development Community (Sadc) and the African Union (AU), including a requirement that all “prisoners of conscience” be freed, and that there be an immediate return to the barracks by the military.

Mnangagwa wants a broader multi-party initiative, but Chamisa — who disputes results of the July 30 polls — prefers a dual engagement on the grounds that he is the only one among all the other presidential elections who is contesting results of last year’s elections.

While the MDC leader snubbed Mnangagwa’s first meeting, he attended a dialogue meeting organised by the Zimbabwe Council of Churches (ZCC) just a day after the meeting at the State House.

Some of the presidential candidates that attended the first meeting include Thokozani Khupe, Bryn Mteki, Nkosana Moyo, Lovemore Madhuku and Ambrose Mutinhiri.

Following the snub by Chamisa, Mnangagwa said the MDC leader “risked missing the bus”, if he did not pitch up for talks, further accusing the opposition front man of grandstanding and playing with the lives of the people.

Mnangagwa’s meeting with political leaders is among other things aimed at establishing four committees.

“Each political party is also being requested to e-mail to the secretariat the names of four nominees who will be considered for appointment to the four committees that were agreed to at the first meeting of the dialogue,” part of the letter of invitation for today’s meeting reads.

The post Mnangagwa sidelines Chamisa in talks appeared first on Zimbabwe Situation.

Zimbabwe central bank governor Dr John Mangudya has admitted prejudicing the country’s exporters by exchanging their US dollar earnings at parity with the local bond note, when rates on the parallel market were at a 400% premium.

Source: ‘I am guilty as charged’: Zim central bank governor on overvalued bond notes | Fin24

Zimbabwe central bank governor Dr John Mangudya has admitted prejudicing the country’s exporters by exchanging their US dollar earnings at parity with the local bond note, when rates on the parallel market were at a 400% premium.

Since the southern African country introduced its local surrogacy currency, the bond note, in 2016, it had pegged it at a ratio of 1:1 with the US dollar, but this did not last for long, as foreign currency shortages on the formal market resulted in parallel market rates spiraling to unsustainable levels.

He said with effect from Monday next week Zimbabwe, would abide by an official exchange rate and market forces, through banks would determine the exchange rate.

The rate will open at 1:2.50, as per agreement with foreign currency dealers in the banks, said Mangudya.

To stabilise the market, Mangudya said the RBZ would arrange foreign lines of credit, since demand would be greater than the supply of foreign currency.

“We need to cloud seed the market with foreign currency,” he said.

Before the new foreign currency management measures, gold miners were surrendering 70% of their export earnings and tobacco farmers 80%, while manufacturers and tourism were keeping 100% of their earnings.

Platinum and chrome miners were surrendering 80% of their export earnings “to ensure effective administration of foreign exchange”.

In exchange for the foreign currency, the central bank would pay the exporter using Real Time Gross Settlement, crediting the exporter’s account with local currency at parity.

This caused distortions on the market, with some exporters, such as listed gold miner RioZim, threatening to shut down operations if the foreign currency disparities were not addressed.

The post ‘I am guilty as charged’: Zim central bank governor on overvalued bond notes  appeared first on Zimbabwe Situation.

Source: ZCDC to explore diamonds in Mahusekwa | Daily News

Zimbabwe Consolidated Diamond Company is set to carry out diamond exploration activities on 450 hectares in Mahusekwa’s Chihota Communal Land.

In a statement the diamond company said the proposed project area was once explored by De Beers in the late 90s to early 2000s but the results were never made public.

ZCDC said exploration will be done using ground penetrating radar to locate areas of potential which will then be studied in detail by drilling and trenching selected points away from homesteads.

“Bulk samples will then be collected using excavators. These samples will be processed on site using a 10tph mobile DMS plant. All excavation waste material will then be used to backfill all the opened pits,” the statement read.

Some potential positive impacts will reportedly include employment creation and community infrastructure development.

The company said potential negative impacts are deforestation, destruction of animal habitats, loss of aesthetic value, noise and dust pollution while mitigation measures will include protection of sacred sites and endangered flora and fauna.

The post ZCDC to explore diamonds in Mahusekwa appeared first on Zimbabwe Situation.