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Zimbabwe shuts down popular website in forex crackdown

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BY RAY NDLOVU

Zimbabwean authorities shut down a popular black-market currency-tracking platform, the latest action to try and stop an accelerating decline in its currency.

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The central bank ordered marketwatch.co.zw and other sites that publish parallel-market currency rate to shut down, governor John Mangudya said in a phone interview.

The website has been used by residents and businesses to guide their purchases of foreign exchange on the streets of the capital, Harare, which they are forced to resort to when weekly central bank auctions don’t provide enough to meet demand.

Zimbabwe follows Nigeria, Africa’s biggest economy, in blaming online platforms for fueling the collapse of their currencies.

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Nigerian authorities last month targeted abokiFX, a platform that tracks the unofficial naira exchange rate, after central bank governor Godwin Emefiele accused the company of manipulating the exchange rate. abokiFX denies any wrondoing.

“It’s cybercrime,” Mangudya said. “How is the rate determined on the computer? It’s based on nothing but hot air.”

Marketwatch.co.zw was unavailable on Wednesday morning, with a notice saying: “Sorry, this website is no longer in service.”

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The Zimbabwean dollar weakened 3.2 percent on Tuesday to 93 per dollar — the biggest decline in 14 months. It’s plunged to about 175 per dollar on the parallel market in recent weeks.

Instability in the foreign-exchange market is being driven by an unrelenting growth in money supply, increasing imports and long delays in settlement at the central bank’s weekly currency auction, the Chamber of Zimbabwe Industries said last week.

To halt the currency’s decline, authorities have taken steps including arresting black-market traders and launching a probe into a currency abuse claim against Simbisa Brands, the nation’s largest fast-food giant.

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Businesses that peg their prices using unofficial market rates have been threatened with having their operating licenses revoked. – Bloomberg

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National

Cyclone Chido moves away from Zimbabwe

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BY NOKUTHABA DLAMINI 

According to the latest updates from the SADC Humanitarian and Emergency Operations Centre (SHOC), Tropical Cyclone Chido has made landfall in Mozambique, approximately 35-40km south of Pemba, in Cabo Delgado Province.

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The intense tropical cyclone brought heavy rainfall and strong gusty winds of up to 220km/h, causing widespread destruction in Mozambique. The system is expected to continue tracking west-southwest towards Malawi, steadily dissipating.

Zimbabwe, which was initially predicted to be in the cyclone’s path, has been spared the worst of the storm.

However, neighboring countries, including Malawi, are expected to experience heavy rainfall and strong winds over the next 72 hours.

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The SHOC has issued a multi-hazard impact-based classification, warning of expected impacts, including strong gusts, heavy rainfall, and rough seas, in Mozambique, Malawi, and other parts of the region.

Member states have been urged to closely monitor official weather updates, intensify public awareness campaigns, and preposition relief supplies to enable a swift response to the cyclone’s impact.

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Senate passes death penalty abolition bill

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BY STAFF REPORTER 

The Zimbabwe Senate has passed the Death Penalty Abolition Bill, paving the way for the country to join the growing list of nations that have abolished capital punishment.

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The bill, which has already been approved by the National Assembly, will now be sent to the President for assent and subsequent publication in the Gazette as an Act.

The country has 62 convicted prisoners facing the death penalty.

Veritas has congratulated the Senators, Members of the National Assembly, the President, and the Minister of Justice, Legal and Parliamentary Affairs for their role in facilitating the bill’s passage through Parliament.

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Justice, Legal and Parliamentary Affairs Minister Ziyambi Ziyambi, who is also the Leader of Government Business in Parliament, defended the bill in the Senate, citing studies that show the death penalty has failed to deter crime.

He emphasized that the actual number of murders remained the same despite the death penalty’s existence, questioning its effectiveness as a deterrent.

Ziyambi also highlighted the bill’s potential to address the root causes of crime, which he believes the death penalty does not tackle. He pointed out the bias of the death penalty against poverty-stricken people, stating that history shows the majority of those executed are from disadvantaged backgrounds.

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Zimbabwe has been on a de facto moratorium on executions for about 17 years, with the last execution conducted in 2005.

 

 

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Cyclone Chido bears down on Zimbabwe, government issues warning

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BY NOKUTHABA DLAMINI 

A powerful tropical cyclone named Chido is moving menacingly towards Zimbabwe, prompting the government to issue a warning and advise residents to take necessary precautions.

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According to the Meteorological Services Department (MSD), Cyclone Chido has intensified into an intense tropical cyclone and is likely to affect Zimbabwe on December 17.

The storm is expected to bring heavy rains, thunderstorms, and strong winds to several provinces, including Manicaland, Masvingo, Mashonaland East and West, Harare Metropolitan, and parts of Midlands and Mashonaland West.

The MSD has warned of heavy rainfall exceeding 70mm in 24 hours in some areas, which could lead to floods, rockfalls, and mudflows.

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Residents have been advised to plan evacuation mechanisms, avoid open spaces, secure their homes from damaging winds, and stay informed through authentic updates from the MSD and the Department of Civil Protection (DCP).

The government has assured citizens that it is taking necessary precautions to mitigate the impact of the cyclone. The DCP is on high alert, and emergency services are ready to respond to any situations that may arise.

As Cyclone Chido bears down on Zimbabwe, residents are advised to remain calm but vigilant. The government’s warning and advisory come as a precautionary measure to ensure public safety and minimize damage.

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Stay tuned for further updates on Cyclone Chido and its impact on Zimbabwe.

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