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Mangudya blames businesses for Zimbabwe dollar collapse

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BY RAY NDLOVU

Reserve Bank of Zimbabwe governor John Mangudya is reluctant to act to narrow a widening gap between the national currency’s official and black market rates, saying businesses were to blame for the disparity.

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While the Zimbabwean dollar has been allowed to gradually weaken from parity with the greenback in February 2019 to 112.80 to the dollar as of Wednesday, it trades at more than 200 to the dollar on the black market, stoking inflation.

Business leaders have blamed the gap on a lack of foreign currency supply though Mangudya says it’s due to many businesses accepting payment in US dollars at the unofficial, or parallel market, rate.

“We would love convergence, but it requires the business community to also walk the talk,” he said in an interview in Harare.
“Convergence must be at a realistic exchange rate.”

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A weekly foreign currency auction run by the central bank resumed Tuesday after a more than month-long gap over the Christmas holidays.

“Delays only help in promoting the parallel market as a source of US dollars,” the oldest brokerage in the country, Imara Asset Management, said in a note to clients this week.

Currency collapse

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The local currency slid 3.68  percent at the first auction of the year to 112.80 per US dollar, according to data provided by the central bank. That’s the largest decline in two months.

Business has said it is at the receiving end of the currency rate disparity. It struggles to obtain the foreign currency, which it needs to keep operations running and is forced to turn to the parallel market.

The Confederation of Zimbabwe Industries, the largest business lobby group in the country, warned in October that a policy response from authorities was needed to save the local unit from collapse.

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“Such a gap plays havoc” for companies, John Legat, the CEO of Imara, said.

To have the official rate move to match the parallel market rate is “like chasing one’s tail,” according to Mangudya.

The unofficial rate will only surge even higher, decimate the earnings of citizens and lead to price hikes in the southern African nation, where annual inflation was 61% in December,” he said.

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“People just want to hold US dollars,” said Mangudya. – Bloomberg

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ZimParks to host first-ever International Wildlife Conservation symposium

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BY NOKUTHABA DLAMINI

The Zimbabwe Parks and Wildlife Management Authority (ZimParks) will hold its inaugural International Wildlife Conservation Symposium under the theme “Wildlife Conservation and Sustainable Development.”

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The two-day event, scheduled for October 22 to 23, next week, will take place at the Management Training Bureau in Msasa, Harare. It will bring together conservationists, researchers, policymakers, and students to discuss key issues around wildlife protection and sustainable development.

The symposium will focus on eight sub-themes, namely Wildlife Conservation and Transboundary Management, Freshwater, Fisheries and Aquatic Management, Sustainable Tourism and Socio-Economic Development, Human-Wildlife Interactions, Environmental Health and Safety, Climate Change Adaptation and Mitigation, Community-Based Natural Resource Management, and Natural Resource Policy and Governance.

ZimParks says the symposium will provide a platform to exchange ideas and deepen understanding of the link between wildlife conservation and sustainable development. Members of the public, students, and professionals are encouraged to attend.

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CCC legislators in road accident, Nkulumane MP dies

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BY STAFF REPORTER

One Citizens Coalition for Change (CCC) legislator has died while four others were seriously injured in a road accident that occurred early Friday morning near Shangani along Bulawayo-Harare highway.

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CCC spokesperson Promise Mkhwananzi confirmed the accident, saying it happened between 2 a.m. and 3 a.m. when the vehicle carrying the members collided with an elephant.

“The vehicle hit an elephant along the Shangani area, and unfortunately Honourable Desire Moyo, the Member of Parliament for Ngulumane, died on the scene,” Nkwananzi said.

He added that the other occupants — Honourable Madalaboy Ndebele, Senator Rittah Ndlovu, Honourable Sethulo Ndebele, and Libion Sibanda — sustained serious injuries and were rushed to a hospital in Bulawayo.

Nkwananzi said he was deeply shocked by Moyo’s death, as he had met him just yesterday in Harare.

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“I had seen Moyo yesterday and we spent about an hour chatting outside Jamieson Hotel about the party and our future plans for national development,” he said. “I’m gutted by his passing. It’s a huge loss for the party.”

He conveyed his condolences to the Moyo family and wished a speedy recovery and strength to the families of the other CCC members who remain in critical condition.

He said further details, including the name of the hospital where the injured are receiving treatment, would be released once confirmed.

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Doctors slam delays in using sugar tax funds for cancer treatment equipment

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BY WANDILE TSHUMA 

The Zimbabwe Association of Doctors for Human Rights (ZADHR) has expressed concern over the government’s continued delays in disbursing funds from the Sugar Tax meant for the procurement of cancer treatment equipment.

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In a statement released yesterday , ZADHR said it was deeply worried by the slow pace of progress, two years after the introduction of the levy that was expected to finance the purchase of essential medical equipment for cancer patients across the country.

According to the association, by November last year, the Ministry of Finance and Economic Development had confirmed collecting US$30.8 million through the sugar tax — a surcharge imposed on sugary drinks and beverages. However, no disbursement had yet been made to the Ministry of Health and Child Care for the intended purpose.

“This delay undermines the purpose of the Sugar Tax, which was intended to improve public health outcomes through targeted investment in non-communicable disease management, including cancer prevention and treatment,” ZADHR said.

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Zimbabwe currently bears one of the highest cancer burdens in Southern Africa, with an age-standardised incidence rate of 208 per 100,000 people and a mortality rate of 144 per 100,000, according to Globocan 2022 data. These figures surpass those of neighbouring countries such as South Africa, Namibia, Zambia, and Botswana.

The association warned that the government’s inaction continues to worsen the plight of thousands of patients who face long waiting lists and limited access to treatment.

“The country records over 17,700 new cases and nearly 12,000 deaths annually, largely due to late diagnosis and inadequate treatment capacity,” read the statement. “This growing burden strains Zimbabwe’s fragile health system, escalates household health expenditures, and undermines productivity.”

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ZADHR called on the Ministry of Finance to urgently release the collected funds and for the Health Ministry to ensure transparent procurement and installation processes once funds are received.

The association also urged the Ministry of Health to build technical capacity among staff to maintain and effectively utilise the new equipment once installed.

“Equitable access must be at the centre of this rollout. Beyond the main Central Hospitals, provincial and district centres should also benefit to ensure no patient is left behind,” ZADHR added.

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