MDC MP for Harare West, Joana Mamombe has been arrested and charged with subversion. According to the Zimbabwe Lawyers for Human Rights, Mamombe was arrested in Inyanga where she was out on parliamentary business and […]
A STUDENT at Africa University has been slapped with a 20
month jail term after he was convicted of stealing cell phones and computer
accessories from five fellow students at the institution of higher learning.
Torevei Muganyura (22) pleaded guilt…
Source: Shock as govt hikes duty threefold | Newsday (News) By Rex Mphisa/Obey Manayiti CUSTOMS and excise duties shot up threefold to the bond note value yesterday following government’s gazetting of Statutory Instrument 32 of 2019, ushering in the new currency, RTGS dollar (ZWL). The central bank last week devalued the local RTGS currency and […]
By Rex Mphisa/Obey Manayiti
CUSTOMS and excise duties shot up threefold to the bond note value yesterday following government’s gazetting of Statutory Instrument 32 of 2019, ushering in the new currency, RTGS dollar (ZWL).
The central bank last week devalued the local RTGS currency and pegged it at 2,5 against the United States dollar from 1:1 and Zimra moved to effect the changes in its systems.
The new duty regime is likely to see an increase in the prices of goods by 300%.
Zimbabwe imports most consumer goods and their prices are also likely to rise three-fold after the new duty regime came into effect yesterday.
Shipping agents and private importers said they were caught unawares after the Zimbabwe Revenue Authority (Zimra) effected the new duty yesterday.
A statement by Zimra yesterday explained how the new duty regime works.
“The new currency affects clearance of designated goods by converting current balances in the nostro FCA prepayment account to ZWR at the prevailing exchange rate with the US$.”
“All foreign currency payments then appear on the payment receipt or prepayment receipt as ZW RTGS dollars,” the statement read.
Zimra added that the prepayment account would be used to clear designated goods.
All values on the bill of entry and form 49 would be reflected in RTGS dollars although payment would be made in forex.
“It is hoped that the above information will assist in the clearance process after introduction of the ZW RTGS currency,” added the statement.
“We have been caught by surprise. We were not expecting this so soon,” Bright Mateza, a clearing agent at Beitbridge Border Post, said.
Vehicles that would normally attract a duty of RTGS $2 000 had suddenly jumped to RTGS $6 000, he said.
Several shipping agents said they would have to increase their funds held by Zimra to afford the new duty regimes.
Shipping and Forwarding Agents’ Association of Zimbabwe chief executive, Joseph Masikati said they were seeking clarification on the effect of the increase on transit goods since the duty at stake would increase.
“The bonds that clearing agents hold in support of such goods are based on the previous rate of 1:1. Will such bonds be affected also by the increased duties at stake? Furthermore, clearing agents hold duties payable in Zimra prepayment accounts at the rate of 1:1. We obviously have to call for a top-up of these amounts from the importers,” Masikati said.
The Reserve Bank of Zimbabwe (RBZ) says government did not
prejudice holders of US dollar accounts with the coming in of the forex
interbank market and the subsequent devaluation of the RTGS dollar.
All USD nostro dollar bank accounts still mainta…
Source: ED, Ncube lost opportunity at CEO’s meeting | Daily News HARARE – The reported anger by captains of industry when President Emmerson Mnangagwa and finance minister Mthuli Ncube snubbed the recent CEO Africa Roundtable meeting in Victoria Falls is understandable as this was their only opportunity to showcase the vital role played by the private […]
HARARE – The reported anger by captains of industry when President Emmerson Mnangagwa and finance minister Mthuli Ncube snubbed the recent CEO Africa Roundtable meeting in Victoria Falls is understandable as this was their only opportunity to showcase the vital role played by the private sector in fostering growth across the continent.
Mnangagwa and more than 500 participants, including some 400 CEOs from across the African continent, were expected to attend the convention at which the President was the guest of honour.
He and Mtuli however failed to attend the 6th edition of the CEO Africa Roundtable which has according to organisers become one of the most important events in the African business calendar, enabling participants to exchange their views and opinions on the issues affecting the economic development of the continent’s companies, in a high-quality international setting that is ideal for conducting business meetings.
Politician and lawyer Obert Gutu said it is very unfortunate that the President and other high ranking government officials failed to address the CEO Africa round table.
“This would have afforded senior government officials to mix and mingle with captains of industry and business and also get to know what they have got to say regarding the socio-economic trajectory that government has to take as it seeks to reboot Zimbabwe’s comatose economy.
“May be they have got their own reasons for missing such an important interface with business leaders,” said Gutu.
Analyst Vivid Gwede said it doesn’t make sense that we are eager to address business people as far as Davos in Switzerland and fail to turn up at business forums in our own country.
“One wonders whether what motivate us are the travels rather than the opportunities. What is more important in the so-called ‘Thank you rallies’ or working on what people promised in the manifestoes?
“I wouldn’t know why the key government officials were not there, they may answer Zimbabweans for themselves. But the picture we portray is not good,” said Gwede.
Social analyst Rashweat Mukundu believes the snub is a crisis of leadership and failure to prioritise key national dialogues.
“The snubbing is yet another indication that the leadership values events and platforms they have control over and these tend to be political while snubbing critical events that assist in national development.
“Another reason is that the organisers were broad in their invitations including opposition figures and the snubbing may as well show an aversion towards dialogue and engagement with the opposition,” said Mukundu
Political analyst Piers Pigou said their failure to participate certainly sends the wrong signal and feeds into a growing uncertainty about the reform trajectory.
“This comes on top of reported differences between (finance minister Mthuli) Ncube and RBZ governor (Reserve Bank of Zimbabwe governor John) Mangudya over the direction, timing and sequencing of monetary policy, resulting in the delay releasing the MPS.
“It is critical for the government of Zimbabwe to send a clear message on these issues,” said Pigou.
Social analyst Lenox Mhlanga said while he will not speculate as to why they subbed the event, be believes it was a lost opportunity to engage CEOs on neutral territory, given the issues that business have to grapple with in a challenged economy like ours.
“There is little point in looking for investment outside the country when the conditions for local business remain depressed. My suggestion is that of fixing things at home, by giving local business leaders the confidence that the President is fighting in their corner first,” said Mhlanga.
Harare Resident Trust director Precious Shumba said Mnangagwa is uncomfortable participating in events organised by other stakeholders as he is afraid to answer questions directly put to him by citizens and their representative bodies.
“When he assumed the Presidency following the ouster of former President Robert Gabriel Mugabe, the world and Zimbabweans largely celebrated the smooth transition which came with the help of the military. There was unprecedented goodwill towards Mnangagwa and his government.
“However, over time, the President has been confirming widely held views of him as a hardliner and not sophisticated as a President. The goodwill of different interested stakeholders is quickly disappearing, and one day too soon he will be left on his own without too many friends to back him in his economic initiatives.
“The snubbing of the conference by the captains of industry is testimony that the President wants total control, but he cannot get it as long as he believes that all stakeholders in Zimbabwe must dance to his tune because he is the President.”
Shumba said Mnangagwa needs to humble himself and evaluate where the county stands in relation to other nations, and where he stands in terms of security of his own tenure as both the head of State and Government and the leader of Zanu PF.
“The Finance and Economic Development and the Commerce and Industry Ministers are critical stakeholders who should have joined the chief executive officers at this conference so that there is enhancement of interaction and exchange of ideas on how to achieve the President’s 2030 Vision of a middle-income country.
“If they are dreaming of industrialising and modernising Zimbabwe, they have to put their shoulders to the wheel and complement the efforts of all stakeholders so that there is harmony in the implementation of Government programming,” said Shumba.
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Source: UN appeals for food aid for millions in Zim | Daily News HARARE – The United Nations yesterday appealed for $234 million in aid for Zimbabwe targeting 2,2 million people of the nearly 5,3 million Zimbabweans who need assistance until June 2019. The 2019 Humanitarian Response Plan focused on Zimbabweans mostly in need of food, […]
HARARE – The United Nations yesterday appealed for $234 million in aid for Zimbabwe targeting 2,2 million people of the nearly 5,3 million Zimbabweans who need assistance until June 2019.
The 2019 Humanitarian Response Plan focused on Zimbabweans mostly in need of food, health care, shelter, water and sanitation, said Mark Lawcock, the UN under-secretary general for humanitarian affairs and emergency relief coordinator.
Of the $234 million appeal, $130 million is for food security; $1,1 million is for agriculture; $37,4 million is for health; $12,7 million for water, sanitation and hygiene; $4,5 million for child protection; $16.5 million for early recovery; $9.7 million for education; $8,7 million for nutrition; and $3,2 million for refugees.
The appeal also includes the procurement of essential medicine and medical supplies to cover 9,2 million vulnerable people in 80 districts who currently have limited access to health care and to allow children to remain in school through provision of food and nutrition supplements.
Zimbabwe ranks as the worst-hit among six southern African countries that experienced severe food shortages in 2018-19 due to a combination of drought, floods and economic mismanagement.
Lawcock said President Emmerson Mnangagwa’s government had indicated Zimbabwe faced a maize deficit of 711 000 tonnes after harvesting about 900 000 to augment meagre opening stocks held by the State’s Grain Marketing Board (GMB).
The appeal comes about a fortnight after the UN urged the government to request donor aid for some 5,5 million people seen needing emergency food in the current marketing season.
The humanitarian flash appeal presided over by Lowcock, was launched on Thursday in Harare in response to rising humanitarian needs in the country due to poor rains and a challenging economic situation.
Launching the appeal, Lowcock said “to enable humanitarian agencies to provide time-critical and multi-sectoral assistance — including food, health, nutrition, water and sanitation, and protection — in both urban and rural areas, I have released US$10 million from the UN Central Emergency Response Fund (CERF) to assist over 270 000 people in the 11 most-affected districts.”
The humanitarian flash appeal aims to save lives and livelihoods by providing integrated humanitarian assistance and protection to people impacted by the economic crisis and severe food insecurity, provide life-saving humanitarian health assistance by responding to outbreaks and procuring essential medicines, build resilience of the most vulnerable communities to mitigate against the impact of the deteriorating economic situation.
Noting that the flash appeal complements the government’s ongoing and planned interventions and emphasising on the need to adhere to humanitarian principles in relief distribution, and to ensure the right to adequate food and nutrition and health services of all people, Bishow Parajuli UN resident coordinator in Zimbabwe said: “The flash appeal targets hardest-hit districts, including rural and urban, which were prioritised through severity ranking based on multi-sectoral analysis of humanitarian needs in food; health; nutrition, water and sanitation; child protection as well as the human rights of women and girls that are at risk of violence and abuse due to economic stress and food insecurity .”
The launch of the humanitarian flash appeal brought together senior representatives from government; diplomatic corps; development and humanitarian partners; civil society organisations; non-governmental organisations; private sector; and the media.