National

Zimbabwe turn towards black market as inflation rises

Published

2 years ago

May 26, 2023

Zimbabweans are feeling the wrath of high inflation. The rate of inflation in the southern African country now stands at 131.7 percent in the month of May.

Locals are now helpless as they are now forced to search for cheaper products as a way to survive the overpriced goods at major supermarkets.

In these shops they call trucks, lie the solution to their demise as they can buy cheaper products compared top large supermarkets.

“We buy at the truck shop because they are cheap, their price is not even expensive because there, in the big shops these days, they are expensive. Even their rate is less (than in supermarkets, ed.), at the truck shop they give us the good rates, that’s why we prefer to buy at the truck shop because they are cheap,” a customer said.

Zimbabwe has endure years of fluctuating value of currencies worsened by adoption of US dollar. Many Zimbabweans are now shunning away from major stores that experience frequent fluctuating currency rates when converting to the local Zim Dollar.

“Its cheaper for customers to buy from out here, for instance for a dollar they can get two drinks, instead of one from a supermarket. It’s also because our exchange rate is better than the official rate,” said one vendor.

The black market is also taking a toll on the local Zim Dollar with economists warning of a further deterioration of the local currency if not regulated.

“What we have witnessed over the past weeks is a massive increase in pricing, Zim dollar pricing. This has largely been caused by the very significant depreciation of the local currency that we have seen on the black market or on the parallel market,” said Prosper Chitambara, an economist.

Zimbabwe’s economy is inching toward “full dollarization,” with the local currency facing collapse, local investment firm Inter-Horizon Securities said. It slumped by 34% in April alone-Source: Africa News.

National

Cyclone Chido moves away from Zimbabwe

Published

1 month ago

December 16, 2024

VicFallsLive

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.

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.

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.

National

Senate passes death penalty abolition bill

Published

1 month ago

December 13, 2024

VicFallsLive

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.

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.

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.

Zimbabwe has been on a de facto moratorium on executions for about 17 years, with the last execution conducted in 2005.

National

Cyclone Chido bears down on Zimbabwe, government issues warning

Published

1 month ago

December 13, 2024

VicFallsLive

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.

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.

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.

Stay tuned for further updates on Cyclone Chido and its impact on Zimbabwe.