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Zimbabwe announces new measures to aid ailing local currency

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BY NYASHA CHINGONO

 Zimbabwe’s treasury has announced measures to encourage the use of the local dollar as opposed to the U.S. dollar, in a bid to boost the local unit and tame rising consumer inflation.

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The measures include a directive that all government departments collect fees in the local currency, the introduction of a 1% tax on all foreign payments and that all customs duty be payable in local currency, with the exception of designated or luxury goods and where an importer opts to pay in foreign currency.

The Treasury will also assume all foreign currency debts from the Reserve Bank of Zimbabwe, Finance Minister Mthuli Ncube said in a statement dated May 29.

“Government shall create a debt redemption fund to service other external liabilities in line with the arrears clearance program. These will be funded through new levies and other resource mobilisation initiatives,” Ncube said.

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Zimbabwe legalized the use of foreign currencies in domestic transactions in 2020, less than a year after abandoning dollarisation. Economists estimate that 80% of the local economy is dollarized.”The assumption of the external obligations by Treasury and the implementation of non-inflationary financing of the liabilities, coupled by sourcing of additional resources, will go a long way in reducing money supply growth and its impact on exchange rate depreciation and prices increases,” Ncube’s statement said.

But some economists doubted the new measures would help the Zimbabwe dollar, which has weakened by about 70% since the beginning of this year, with the gap between the official and exchange rates continuing to widen.

 

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“They are doing this to preserve the value of the Zimdollar. Is this going to work? I say no. This is akin to using toothpaste when you have lost your teeth,” economics professor Gift Mugano said.

“It will be a miracle for us to be able to reverse the crash of the Zimdollar and ensure stability.”Mugano also criticized what he termed the government’s plan to “raid” foreign currency accounts of exporters, after Ncube said that “all export proceeds that remain unutilised after 90 days will be liquidated onto the interbank market”. SOURCE: REUTERS 

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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. 

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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.”

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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. 

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“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.

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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.

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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.

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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. 

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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. 

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“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.

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“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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