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Zimbabwe cracks down on currency dealers as dollar collapses

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BY RAY NDLOVU

Zimbabwean authorities are arresting informal currency traders who they blame for fuelling the latest collapse of the local unit on the black market.

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The arrests come four days after Vice President Constantino Chiwenga warned the traders that their activities were undermining government efforts to revive the economy.

Seventy-seven offenders have been arrested since September 28 and barred from accessing any financial services for two years with immediate effect.

The arrests are the latest attempt by the government to try and keep control of its currency, the Zimbabwe dollar, through two decades of economic turmoil.

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The local unit was scrapped after a bout of hyperinflation in 2009 and trade in the greenback and other currencies was permitted.

It was reintroduced in 2019 at parity with the American currency but quickly plummeted.

Attempts to keep the official rate stable have often seen the gap with the black-market rate widen.

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“The runaway parallel market rate is a concern and it causes dislocations on how the final product is priced,” Kurai Matsheza, president of the Confederation of Zimbabwe Industries, the country’s biggest business group, said by phone.

The Zimbabwe dollar changes hands on the streets of Harare, the capital, for Z$170 per U.S. dollar, while the official rate is Z$88.55.

Its recent drop in value has fuelled inflation, with businesses raising prices to hedge against the currency volatility.

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The official inflation rate rose for the first time in eight months in September, reaching 52%.

The Financial Intelligence Unit accused the traders of abusing mobile telecommunications services and social media platforms to promote and facilitate illegal foreign-exchange transactions and money laundering activities, according to John Mangudya, the governor of the central bank.

“The FIU has also requested the Postal and Telecommunications Regulatory Authority of Zimbabwe to bar the said individuals from operating mobile-phone lines,” he said in an emailed statement.

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Lawmakers discussed the widening gap between the official and parallel market exchange rate at a pre-budget seminar on Wednesday.

The central bank had to urgently act against companies that accessed foreign currency at the official rate at weekly auctions, but priced their goods and services based on parallel market rates, Gift Mugano, the executive director at Africa Economic Development Strategies, which does policy research, told the seminar. – Bloomberg

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Police Hunt For A Nkayi Murder Fugitive

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BY STAFF REPORTER 

A Nkayi man is reportedly on the run after allegedly assaulting a fellow villager with an unknown object on the head on New Year’s Day. 

Police have identified the fugitive at Joinisa Tshuma from Dabe village who is being sought for a murder charge. 

“ZRP is appealing for information which may lead to the arrest of Joinisa Tshuma who is being sought in connection with a case of murder in which Mcebisi Moyo died on 07/01/24,” police appealed. 

“The suspect allegedly assaulted the victim on the head with an unknown object near a bush in Dabe Village, Nkayi on 01/01/24 before he fled the scene.”

According to police, the victim sustained some head injuries and he was admitted at Nkayi District Hospital where he succumbed to the injuries.

Meanwhile, Police in Machipisa are also  investigating a case of murder which occurred on Wednesday, in which a yet to be identified male adult approximately aged 30 years who was wearing a yellow t-shirt, black trousers, black gum boots and a black cap, was found lying dead with a stab wound on the back near Mapuranga Transport Service Garage in Harare. 

Police are also appealing to the public with information surrounding the incident. 

“Anyone with information to report at any nearest Police Station.” 

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Full ZRP Statement on Armed Robberies Raiding Elite Schools 

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As the schools open, parents and guardians are in the process of paying school fees, levies and other related school costs, for their children.

School authorities are therefore urged to deposit all monies at financial institutions to curb armed robbery cases.

The issue of collecting cash by school authorities at schools should be reconsidered given the recent armed robbery cases.

The Police has recorded armed robbery cases in Bulawayo and Chinhoyi in which schools are being targeted.

In one of the cases, unknown suspects pounced at George Silundika High School at corner George Silundika Street and Third Avenue, Bulawayo on 06th January 2024, where they stole US$17 280.00 cash which was in a cash box.

In another case which occurred at Lomagundi College, Chinhoyi on 09th January 2024, 12 unknown suspects attacked security guards before stealing an undisclosed amount of cash, a Mazda Tribute motor vehicle, cellphones and laptops, among other valuables.

School authorities are urged to step up security measures at schools and employ guards from reputable security service providers who constantly monitor and review deployments.

Above all, school authorities should install CCTV at points of entry and administration offices.

The Zimbabwe Republic Police is concerned that some of these robbery cases are resulting from leakage of information.

Members of the public are warned that those who provide inside information to robbery syndicates will be arrested.

Police crack teams are firm on the ground and will pounce on armed robbery syndicates for the law to take its course in earnest.

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ARTUZ condemns government for opening of school amid Cholera outbreak

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BY NOKUTHABA DLAMINI 

The Amalgamated Rural Teachers Union of Zimbabwe (ARTUZ) has condemned the government’s decision to reopen schools due to the cholera outbreak wreaking havoc in most parts of the country, labeling the move reckless and disregarding the pressing concerns raised by parents and teachers. 

Statistics released by the Ministry of Health and Child Care last week showed since the outbreak of cholera, Zimbabwe has recorded 15 137 suspected cholera cases, 1 759 confirmed cases, 14 578 recoveries, 67 confirmed deaths and 266 suspected deaths.

“We vehemently condemn the government’s reckless decision to open schools amidst the widespread cholera outbreak, completely disregarding the pressing concerns raised by parents and teachers,” reads the statement.

“We demand that the government immediately mobilize substantial resources to ensure the safe reopening of schools because our children deserve nothing less than a secure and conducive learning environment. 

“It is the duty of the government to provide sanitary solutions and ensure the safety and well-being of our children.

The union also called on the government to consider an upward increment of teachers’ salaries, criticizing the government’s lack of engagement with educators, particularly regarding their ongoing demand for a US$1 260 salary.

“Also, it is utterly disappointing to witness such a hasty move without even bothering to engage with the educators who have been tirelessly advocating for a just salary of US$1260.

“The safety and welfare of our students and teachers should be the utmost priority, but it seems that the government is callously neglecting this responsibility.

“It is high time for the government to prioritize the well-being of our education system and take meaningful action to address the urgent needs of our dedicated teachers. ” 

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