Let me say from the onset, I am really pleased that Zanu PF’s phony factional wars are now over and the regime can finally focus its attention on the nation’s BIG ISSUE – the worsening economic meltdown.
Ever since Grace Mugabe bust on the political stage in July 2014
with her shrill “Ndinonzi Mafira kureva!” (I am called (Mafira kureva) One who
speaks the truth even to the death!) until now when she was finally silenced
the regime has been totally preoccupied with her and what she had to say. All
she has done was accused first Joice Mujuru and then Mnangagwa of all manner of
crime some true others wild and fictitious just to elbow the two out of the way
so she could succeed her husband as next president. She managed to “baby dump”
Mujuru but failed to do the same with Mnangagwa.
When Mnangagwa’s supporters told Robert Mugabe last month
that the war vets and those in the security sectors, whom Grace Mugabe’s G40
factions had been abusing, were the “stockholders of Zanu PF and Zimbabwe” whilst
he, Robert Mugabe, was a “stakeholder who comes and goes”; Mugabe knew the game
was over. The G40 faction had lost, there will be no more meet the people
rallies and shrill voice of Mafira kureva will be head no more!
But before VP Mnangagwa has had time to savour his victory over
Mafira kureva and her G40 faction he was reminded that there is an even bigger
foe for him to defeat if he is ever to be president – the economy. The country
is facing a serious cash crunch – just one of the many manifestations of the
country’s economic meltdown.- and immediately it was clear that the regime has
The regime’s proposal to introduce bond notes (over the bond
coins introduced supposedly to easy the shortage of small change) is kicking
the tin can down the road – a cul-de-sac in this case – it will solve nothing.
The cash crunch is because Zimbabwe has become a supermarket
nation, importing everything it consumes whilst exporting very little itself.
There is bound to be a cash shortage because we have a lot more cash flowing
out of the country than is flowing back in; that is not rocket science.
The introduction of these bond notes will easy the cash
shortage for local transactions but put the squeeze on foreign ones as the
drain in foreign currency will continues to the extend import costs exceed
export receipts. It will not be long before the black market trade opens buying
foreign currency with the bond notes triggering the fall in value to the
Yes the regime has reintroduced the Z$ by the back door and
called it bond notes. The banks will convert the foreign currency denominated
accounts to bond notes at the official exchange rate but refuse to sell foreign
currency at the same official rate (except to the lucky few). The days of
Zimbabwe’s runaway inflation are back!
The RBZ governor’s instruction for all export payments to be
40% in Rand 10% in Euros and the balance in US$ if fiddling whilst Rome burns
because the net worth of the cash received for exports. As long as cash to pay
for imports continue to exceed the cash received for exports, breaking that
cash into many others currency will change nothing, the cash crunch for foreign
transactions will continue.
I am so, so pleased that the Zanu PF’s phony factional wars
are over and the regime can finally grappling with the real big issue - the
economic meltdown – after nearly two years on French leave listening to Mafira
kureva. Here is a regime known for vote rigging, wanton violence, looting and
all the other dirty tricks to cheat its political opponents and the nation at
large to stay in power. For VP Mnangagwa to have an chance to become president,
Zanu PF must now threaten, beat or even murder the root causes of economic
meltdown and deliver economic recovery.
If the regime’s handling of the cash crunch is anything to go
by then my fellow Zimbabweans Zanu PF has finally met more that the regime’s
match in the economy! Zanu PF cannot bribe or cheat its way out of the serious
economic meltdown the nation is facing.
Unemployment rate now a nauseating 90% plus; millions living
in abject poverty; the proposed bond notes have already triggered a run on the
banks as many people are determined to take out as much of their cash as
possible before it is converter to worthless bond notes; etc. There is no doubt
that the present economic situations already intolerable and yet as long as the
regime stays in power things are set to get even worse.
To end Zimbabwe’s economic meltdown the nation must first end
the political system that spawned it the de facto Zanu PF one-party
dictatorship that has allowed mismanagement, corruption and lawlessness to grow
and spread like cancerous tumours.
Zanu PF has cheated and rigged elections to avoid regime
change but the serious economic meltdown will force regime change because it
cannot be bribed, cheated or murdered!
It is the economy stupid!