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Mangudya ranked among worst central bank governors

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BY MEMORY MATARANYIKA

Reserve Bank of Zimbabwe (RBZ) governor John Mangudya has been classified among the worst central bank governors, according to rankings by Global Finance magazine, in sharp contrast to South Africa’s Lesetja Kganyago who has a top ranking and has been described as a “bold” central banker.

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Zimbabwe has faced sustained monetary and inflationary headwinds, chief among them a runaway exchange rate, cash shortages and plummeting public confidence in the banking sector.

Mangudya has not had much progress in addressing the financial mayhem characterising Zimbabwe’s monetary sector.

Industry, business and manufacturing has also been hammered by the monetary mismatches obtaining in the economy, say business leaders.
“There is no confidence in the banking sector, inflation remains problematic and the exchange rate is far divorced from the parallel market despite advice from IMF for convergence.

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“He cannot be among the best governors with the state of the economy and monetary sector,” a Zimbabwean CEO with a large manufacturing company told Fin24.

Global Finance gave the Zimbabwean central bank governor a score of C- for 2021, signifying one of the worst scores for the African continent and only below Namibia, Mauritania and Madagascar which have scores of D.

In 2020, Mangudya had a D grading.

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The globally respected magazine, with input from analysts, economists and financial editors, each year grades the world’s leading central bankers on a scale of A to F, based on a series of objective and subjective metrics, including the appropriate implementation of monetary policy.

According to Oxford Economics Africa “Zimbabwe headline inflation came in at 60.7 percent year on year in December, which means overall inflation averaged 143 percent in 2021”.

This illustrates the price hikes Zimbabweans have endured, a trend that has continued into the new year with life assurance companies hiking premiums, schools steeply raising fees and prices of medicines in pharmacies going up .

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Mangudya has deferred the start of the 2022 foreign exchange auction market to January 18, courting much criticism and speculation that Zimbabwe has run out of foreign currency to allocate local producers.

According to central bank data, it allocated just about US$2 billion to small scale and large-scale enterprises in 2021.

“The apex bank also wants commercial banks to help the recovery by encouraging their clients to invest in government securities.

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“The bank has launched a regulatory sandbox framework to encourage innovations in the fintechs and further liberalized the operations of bureau de change to promote financial inclusion,” noted Global Finance in its report card for Mangudya.

On Wednesday Mangudya said he was going after currency manipulators in the pharmaceutical sector and in schools.

The poor performance of Zimbabwe’s reserve bank governor is in stark contrast to Kganyago, the SA Reserve Bank (SARB) governor described by Global Finance as “bold” in responding to the economic shocks that have characterised South Africa’s economy.

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Kganyago is graded A- for 2021 for a man who has marshaled the banking sector to remain sound, liquid and well capitalised “despite grappling with bad debts and low” profits.

“Five banks continue to dominate, accounting for 90% of assets.” – Fin24

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Conservation amid crisis: How VFWT adapted to 2024 drought

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BY NOKUTHABA DLAMINI 

The Victoria Falls Wildlife Trust (VFWT) has released its 2024 Impact Report, detailing a year marked by unprecedented challenges due to severe drought conditions across Zimbabwe and much of Southern Africa. The report highlights the organization’s strategic adaptations to support local wildlife and communities during one of the most difficult drought years on record.

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Unlike previous droughts where water scarcity was the primary concern, this year underscored a more complex reality. VFWT Chairperson Bruno De Leo emphasized that the lack of grazing for both wildlife and livestock emerged as an even greater threat. Animals had to venture farther for food, increasing the potential for human-wildlife conflict and competition for dwindling resources. De Leo noted, “The year 2024 underscored the importance of connectivity for wildlife and the need to maintain corridors that allow movement and relieve pressure on natural resources.”

In response to these challenges, VFWT implemented several proactive measures. Collaborating with the rural communities involved in its Herding 4 Hope project, VFWT facilitated early livestock sales to minimize losses and planned for dry-season grazing in more distant areas to conserve energy among livestock. The organization also focused on regenerating boreholes to ensure that villages without adequate water had access to crucial resources.

Notably, VFWT’s Wildlife Disease & Forensics Laboratory made significant strides, establishing itself as a key player in wildlife forensics. In 2024, the laboratory handled over 280 cases and engaged in crucial research on transboundary animal diseases affecting regional wildlife. The lab successfully validated targeted sequencing for species identification using new technologies, reinforcing its capabilities in addressing wildlife crime. Remarkably, the lab played an integral role in international ivory seizure investigations and developed a genetic panel for black rhinos, demonstrating a strong commitment to combatting poaching and ensuring species protection.

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A particularly significant initiative was the launch of a tuberculosis surveillance project for lions within Hwange National Park. Following confirmed deaths from the disease, this project seeks to assess its prevalence among the lion population and understand transmission dynamics. With nine lions set to be sampled in late 2025, the data gathered will contribute to vital conservation knowledge.

The report emphasizes the importance of continued support from donors and stakeholders, enabling VFWT to maintain healthy animal populations and develop sustainable solutions for the future of biodiversity in the region. In a challenging year, the dedication and adaptability of the VFWT team stood out, reinforcing its commitment to conservation and community engagement.

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In the community

Woman connives with boyfriend to kill step mother

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BY STAFF REPORTER 

A chilling murder case has unfolded in Tsholotsho, where a 34-year-old woman, Linnar Muzimela, and her boyfriend, Nkosi, are being sought by police for allegedly killing Muzimela’s 58-year-old step mother, Jenifer Dube.

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According to the police, the brutal murder occurred in Magotsha Line in May 2025. The suspects allegedly buried Dube’s body in a shallow grave in the garden, where it was later retrieved by police on Tuesday, this week.

Police are now appealing for information that may lead to the arrest of Muzimela and Nkosi. The motive behind the murder is still unclear, but the police are working tirelessly to piece together the events surrounding Dube’s tragic death.

 

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Zimbabwe road traffic fatalities rise to 20 amid recent accidents

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BY STAFF REPORTER

The Zimbabwe Republic Police (ZRP) has confirmed that the death toll from recent road traffic accidents has tragically escalated to at least 20 individuals in the past few days. This surge in fatalities has raised serious concerns regarding road safety across the nation.

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In a statement released today, the ZRP detailed a fatal accident that occurred early this morning at the 246-kilometer peg along the Mutare-Masvingo Road, near Mutendi Complex. A Dragon bus, carrying 20 passengers and traveling from Beitbridge to Mutare, collided with a haulage truck while attempting to overtake. The bus driver swerved back into his lane upon noticing an oncoming vehicle, resulting in a devastating sideswipe that caused timber from the truck to pierce into the bus. Eight people, including the bus driver, died at the scene, and four others were injured in the crash. The injured were transferred to Masvingo General Hospital for treatment.

The ZRP emphasized the alarming trend of road accidents in their statement, noting

that these incidents were predominantly caused by reckless overtaking. “Most of the accidents recorded recently have been due to overtaking errors on the part of drivers,” police officials stated. “We urge all motorists to exercise extreme caution and adhere strictly to traffic regulations.”

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This latest accident follows another tragic incident on August 28 involving a Toyota Fortuner GD6 at the 46-kilometer peg along the same road. The vehicle veered off the road and hit a concrete signpost, resulting in four immediate fatalities. This number subsequently rose to six as two more victims succumbed to their injuries after being admitted to Victoria Chitepo Provincial Hospital.

Additionally, on August 29, a separate accident on the Harare-Nyamapanda Road claimed the lives of seven family members when a kombi they were traveling in lost control during an overtaking maneuver, resulting in an overturn that killed five instantly and two more in the hospital.

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