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President Mnangagwa urges Zimbabweans to embrace ZiG currency and respect laws backing it

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BY NOKUTHABA DLAMINI

“It remains the duty of all of us to respect and abide by measures and instruments intended to maintain economic stability and tame inflation,” President Mnangagwa said in his State of the Nation Address at the New Parliament Building in Mt Hampden on Wednesday.

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He emphasized the importance of embracing the Zimbabwe Gold (ZiG) currency, which was adopted in April 2024 to stabilize the domestic currency.

“The adoption of the ZiG was an important step towards stabilising the domestic currency anchored by our gold and 8 precious metal reserves,” he noted.

However, Zimbabwe has been facing economic challenges, including hyperinflation, which has eroded the value of the currency and made it difficult for citizens to afford basic goods and services.

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The country has been using a multi-currency system since 2009, but the RTGS dollar has struggled to maintain its value, leading to high inflation rates.

In response, the government has implemented measures to stabilize the currency, including the adoption of the ZiG and the willingness to allow greater flexibility in the foreign exchange market.

Despite these efforts, parallel market activities driven by speculative tendencies have resurfaced, causing concerns about economic disruptions.

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President Mnangagwa assured Zimbabweans that the government remains committed to backing the currency through setting aside 50% of royalties for building reserves.

“Foreign currency inflows from exports have increased from US$7 billion in 2023 to US$8 billion in 2024,” he reported.

He also highlighted the government’s efforts to deepen the foreign exchange market and promote effective price discovery.

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“The increased flexibility on the foreign exchange market is expected to further promote effective price discovery and encourage holders of foreign exchange to participate in the willing-buyer willing-seller market,” he explained.

In conclusion, President Mnangagwa urged Zimbabweans to work together to lay a solid foundation for economic prosperity, peaceful development, and freedom from undue external interference.

“Let us respect and abide by measures intended to maintain economic stability and tame inflation,” he emphasized.

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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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