Professional Documents
Culture Documents
INDEPENDENT
Established 1996
Markets Name
Seed Co
HIPPO
MSHL.
Price (ZW$)
118.4490
322.0500
96.6500
% Change
+15.00
+15.00
+14.99
Name
ASUN
Econet
OK Zim
Price (ZW$)
30.1519
136.0471
39.1772
% Change
-5.95
-1.58
-1.10
Symbol
USD/ZW$
Euro/ZW$
GBP/ZW$
Price
778.34
Change
721.02(bid) 742.98(ask)
802.12
889.02 916.69
%Change
738.41(ave)
790.23
902.86
ART. 18.0000 +12.50 TANG. 126.0004 -0.74 ZAR/ZW$ 0.02 0.0237 0.02335
Contact us
for Sustainable Real Estate Solutions
www.intpro.zw
+263 77 3 805 000 / +263 4 798496/7/6
5 investors vie
for StanChart
TINASHE MAKICHI/SYDNEY KAWADZA
#conveniencemadesimplypossible
#conven
niencemadesimplypossible
LOCAL NEWS
LOCAL NEWS
LOCAL NEWS
Seed Co
Zec report: Mliswa blasts chair's
parly ad hoc committee US$2,3m
SYDNEY KAWADZA
case finally
OUTSPOKEN independent Norton leg-
islator Temba Mliswa this week attacked
the composition of the Parliament ad hoc
goes to trial
committee analysing the preliminary de- THE money laundering case where
limitation exercise report cautioning on prominent businessman and Seed Co
possible legal pitfalls in the process. Zimbabwe chairperson Shongwe Michael
He raised the query on Tuesday this Ndoro is accusing his ex-co-director Star
week shortly before the National Assem- Precious Ndoro of laundering US$2,3 mil-
bly debated the ad hoc committee on the lion has finally been given a trial date.
Analysis of the Zimbabwe Electoral Com- This comes after the businessman this
mission 2022 Preliminary Report on the year raised a complaint against senior
Delimitation Exercise. public prosecutor Michael Reza over fail-
The members of the committee include ure to furnish him with a trial date, in a
Pupurai Togarepi (chair), Dexter Nduna, situation that triggered a conflict of inter-
Kenneth Musanhi, Tsitsi Muzenda, Chi- est allegations against the top prosecutor.
do Madiwa, David Parirenyatwa, Musa In a letter dated January 4 2023, Ndoro
Ncube, Cuthbert Mpame, Chief Siatabwa who is managing director of Interfruit
Siansali, Prince Sibanda, David Tekeshe, (Pvt) Ltd is accusing Star Precious Ndoro
Douglas Mwonzora and Anele Ndebele. of laundering US$2,3 million and also
Togarepi lost his Gutu South constitu- facing 632 counts of theft of trust prop-
ency according to the delimitation re- erty belonging to the company.
port, a situation that could have motivated In a meeting recently, the prosecution
Mliswa’s concerns. team indicated that the trial date had now
The committee said Zec had failed to been set for January 30 2023.
follow procedures including delimiting “I have lost confidence in the pros-
ward boundaries below the maximum and ecutor’s office at Rotten Row Magistrate
minimum thresholds. Courts as they appear to be partisan in
Mliswa described the composition of their conduct and I believe that Reza’s
the Delimitation Committee as “quite dis- office is no longer independent. I kindly
appointing” as most of the members were request for a transfer of this matter to
conflicted. any other independent and impartial
“Their constituencies are part of the prosecutor at a similar level who can
problem. So how can they represent the deliberate on the matter without fear or
nation when their constituencies are af- favour or any further delays.
fected?” Mliswa said. “I find it inappropriate that Reza would
He further argued that most Members take a lackadaisical approach. This matter
of Parliament were represented by their has been sitting on his desk for at least
chief whips who had the final say on Speaker of Parliament Jacob Mudenda 3 weeks now with NO action on his part
agreements. and now he is indicating he needs a fur-
“I am an independent member. So am cated his observation on the historical Indeed, in the future, the member will ther week before any appropriate action
I supposed to agree to what they all agree fact that at one point, material time, he be considered as the member has been is taken, whilst the investigating officers
on without my input? If the law says so, was chosen to be a chairman of a portfo- considered in the past. So this House has have completed their investigations,” the
then I respect that. lio committee where he excelled until he a very good track record in that regard,” letter by Ndoro against Reza reads.
“These are some of the issues Mr Speak- found himself out of that chairmanship for Mudenda said. Ndoro alleges that he reported the
er, Sir. We are fortunate that we have a reasons best known to himself. The Speaker said whatever a select matter in April 2019 and Reza requested
Speaker who is quite learned; a Speaker “So that historical fact must be taken committee presents to Parliament is not a that a Forensic External Audit be carried
who recently has been appointed to be the into account that it has been like this au- fait accompli because it is open to debate. out.
legal secretary for the ruling party, which gust House to extend the inclusivity of “So there is no prejudice in terms of de- According to the letter, this was com-
is important, an advocate of note. In terms Members of Parliament, including the bate on a report of a given committee in- pleted in November 2022. On December
of all these issues that I have spoken about, Independent and not only that but also cluding the ad hoc committee. I am sure 15 2022, Reza received the docket with all
from a legal point of view, is it proper to when we were discussing the welfare of the Hon. Member will have the opportu- the required documents.
continuously ignore that very same per- Members of Parliament,” Mudenda said. nity to debate accordingly in this House,” On January 4 2023, Ndoro alleges that
son?” Mliswa questioned. “In the past, this House has taken into he said. Reza was still in possession of the docket
He further urged Parliament to make le- account his potential for leading in the Zec chairperson, Priscilla Chigumba in despite having promised earlier on that
gal consultations on the issue. committees of this House. Therefore, his December last year presented the pre- he would assign his details to handle the
Speaker Jacob Mudenda dismissed observation must be tainted with gra- liminary delimitation report to President case.
Mliswa’s argument saying he had resigned ciousness in terms of the historical fac- Mnangagwa. Parliament on Wednesday Ndoro further claimed that he had not
from the Mines and Mineral Development tor. I am happy that in his presentation, this week adopted the ad hoc report com- seen the prosecutor to which his case has
committee he once chaired. he indicated that in the future, a member mittee which will be submitted to Mnan- been assigned because Reza indicated
“The Hon. Member should have predi- who is independent should be considered. gagwa who will then send it back to Zec. that the assigned prosecutor has multiple
deaths in the family and will not be avail-
able for another week.
LOCAL NEWS
NOTICE
rate. Owing to the currency volatility crisis
gripping Zimbabwe, which has resulted in
the Zimbabwean dollar losing value against
the greenback, US$1 was equivalent to
ZW$140 in April when the registration blitz
commenced but firmed to ZW$570 in Sep-
tember when the exercise closed.
This means that US$60 was equiva-
lent to ZW$8 400 in April but increased to
ZW$34,200 as the local currency continued
to tumble against the greenback. UPDATE ON ADULT AND EXTRA DEPENDANTS SUBSCRIPTION REVIEW
Efforts to contain runaway inflation,
which stormed into the three-digit red zone
(254%) and stabilising the depreciating local
currency have resulted in the US$1 margin-
ally increasing to ZW$712 this month. The Society wishes to advise its public sector members with adult/extra dependants to contact
“We worked from April to September and
we were only paid for three months. They
the Society by 20 January 2023 to make necessary adjustments following the recent review of
only paid for those three months after we adult/extra dependants subscriptions.
protested. For those who were stationed lo-
cally, they were paid US$60 every day each
month. Our customer service agents in all our outlets will be ready to assist you during this process. You
“For all that work, and the time we spent can also contact us via the following platforms:
away from our families they have not paid
us. We filled registers for the work we were
doing under the exercise which was sub- Contact Centre: 08688002635
mitted to the Ministry of Home Affairs,” a Email: contactus@psmas.co.zw
source who spoke on condition of anonym- WhatsApp: 0783 183 530
ity told the Independent last week.
As at December 31 2023, the source added,
“no formal communication had been given The new subscription rates will now be effected in February instead of January as previously
by the Civil Registry department to explain announced to allow members to make appropriate decisions.
delays in settling payments.”
This resultantly worsened the dire situa-
tion of the restive workers in an economic All biological children over 18 years with proof that they are still attending school under parental
environment characterised by soaring prices
of basic commodities.
guardianship will continue to contribute the same subscription as the principal member.
“Some of the workers were recruited from
other government ministries. This exercise Please note that monthly subscriptions for principal member, spouse and three biological
was conducted by 2 000 staffers from the
Registrar-General’s (RG) office and exter- children remain unchanged and subsidised by the employer.
nal personnel. At the end of December, we
had not yet been paid. If they had paid us PSMAS remains committed to providing access to affordable quality health care services to all
our money, we could have put it to good use
considering the inflationary environment its members, now and beyond.
we are in. They are ripping us off.”
Responding to questions posed by the
Independent, the Civil Registry department
noted that outstanding payments were being
processed.
“Payments are ongoing as the duration of
the exercise was longer and the staff com-
plement was higher as we outsourced staff PSMAS HOUSE
members from other ministries. No. 47 George Silundika Avenue
“The staff is being paid in the currency that +263-242-705186-8
the salary is paid out,” said the Civil Registry +263-242-702153-4
department in a statement prepared for this contactus@psmas.co.zw
publication. www.psmas.co.zw
The intensive national document registra- PSMAS Zimbabwe
tion exercise, a precursor to the forthcoming
elections likely to be held between July and
@PSMASZim
Committed to Care
August, would allow eligible citizens to par-
6 ZIMBABWE INDEPENDENT JANUARY 20 TO 26, 2023
FEATURE
The gravel road leading to Muchesu is being widened to facilitate heavier traffic. Inset shows map of mining-induced displacement.
LOCAL NEWS
Zimbabwe
Independent
JANUARY 20 to 26, 2023
A
T the beginning of 2022, one of the highlights of Zimba-
bwe National Roads Administration (Zinara)’s engage-
ment with journalists was an important undertaking to
draft banks into funding crumbling roads.
A figure of up to ZW$5 billion (about US$7 million)
in potential loans was thrown onto the table, which was a significant
purse at the time.
With a new board and executive, the promise of a bigger cake to
bankroll roads rehabilitation was refreshing in many ways.
Perhaps Zinara bosses didn’t realise the gravity of their ambition
at the time.
But the deteriorating road network is one of the biggest factors be-
hind high death rates on Zimbabwe’s highways.
It is not only human error, as parroted by the police. The factors
driving human error can easily be traced to decaying infrastructure.
The scourge of political violence
P
Zimbabwe’s roads have become a huge threat to economic re-
rospects of a free and had belonged to another party
covery, and human life. In remote locations, families walk through
dreadful forests for many kilometres to their nearest bus stations.
fair election are fading
by the day, yet Zimba-
Editor’s we would have seen that justice
would have been applied swiftly.
Often, when families end up risking to walk long distances, trag-
edies like sickness would have affected them.
bwe’s very future de-
pends upon whatever
Memo Mid-last year a man was ar-
rested by the police for the cal-
happens between now and the Nevanji lous murder of a political activist
Women have given birth on roadsides and in forests, due to trans-
day when the poll results will be in Nyatsime, Chitungwiza.
port shortages, for instance. Madanhire
announced. Free and fair elec- He still hasn’t appeared in
Examples of the devastation triggered by poor roads are many — tions are premised on the integ- court as far as the public is aware.
which is why Zinara’s plan to bolster its war chest was extraordinary. rity of all electoral processes that nmadanhire@zimind.co.zw There seems to be selective ap-
It looks like Zinara’s new board and executive have fallen into red include a scientifically done de- plication of the law. Ruling party
limitation process, an unbiased activists can gather when and
tape mode following the trend in the rest of the government, and
electoral supervisory board, a Here we are taking this as a wherever they want but opposi-
nothing is moving at all. ruling party that’s willing to face universal truth that will affect tion members can’t do the same
As CEO Nkosinathi Ncube explains in our full interview this week, fair competition and an opposi- both the ruling party and the without the police descending
the hunt for funding is still on, one year after what looked like the tion party that is not paranoid; but opposition. We know for sure upon them like a ton of bricks.
most positive announcement by an institution that until last year, had most importantly, the absence of that intraparty fighting has al- This is what happened over
political violence. ready begun across the political the weekend in Budiriro where
suffered high level abuse by its well-connected former executives.
The delimitation process has divide and will heighten as po- 25 people including parliamen-
For a change, the new board has acted on profligacy and looting, been chaotic. Rarely has this litical parties approach primary tarians were raided by riot po-
but it has to do much more to assure the nation that it is ready to serve. process in the past been deni- elections. lice and have been incarcerated
“We are looking at engaging financial institutions with a view to grated by both the ruling party Intraparty fighting might not and brought before the courts
secure loan facilities to boost our disbursements to road authorities,” and the opposition. have the same devastating ef- for simply gathering for a pri-
Either the Zimbabwe Electoral fect on the integrity of the elec- vate party meeting at the private
Ncube told the Zimbabwe Independent this week.
Commission has been totally re- toral process as interparty fight- home of one of their own.
It is true that there are processes to be followed before crucial deals miss in its application of the for- ing but it too has to be avoided at Many other incidents have
can be inked with funders. But for an institution like Zinara, which mulae that should be followed in all costs. Interparty fighting is shown this blatant selective ap-
can secure crucial government guarantees to access funding, drag- executing this important process what’s generally defined as po- plication of the law which has
ging the process to a full year could be stretching mediocrity too far. or there has been a Fifth Column litical violence. made Zimbabwe the world’s
interfering in the process for its A few weeks ago it manifested laughing stock. Most worry-
This country has suffered for too long.
own devilish ends. The nation is itself in Murewa where elderly ingly, this selective application
And many know that the revamp of Zimbabwe’s infrastructure in- aware of the factionalism that people were severely assaulted of the law encourages political
cluding roads would be a key factor in the projected rebound. has always bedevilled the ruling when they gathered, as is their violence as perpetrators feel that
We are not saying Zinara is sitting on its laurels. Zanu PF party. right, to support a political par- they are above the law and begin
There has been so much positive work and effort that has taken This factionalism is something ty of their choice. Although the to act with impunity.
that cannot be wished away by police reported that some of the President Mnangagwa, since
place in funding road rehabilitation in the past year.
both its perpetrators and those culprits had been apprehended, he took office nearly five years
Over 355 km of the Harare-Masvingo-Beitbridge highway have affected by it. Those it affects they still haven’t appeared in ago, has gone on re-engage-
been given a facelift. are mainly the electorate itself court to have charges preferred ment mission and most of those
Progress has been achieved elsewhere. that will vote without informed against them. Now this is curi- he seeks to re-engage have said
Still, Zimbabwe cannot wait any longer for a complete revamp of its choices and the country at large ous and debunks the loud deni- they would only warm up to his
that will continue to bear its in- als by ruling party apparatchiks overtures if this year’s elections
highways in order to grow the economy.
ternational pariah status. that their party was responsible are reasonably free and fair.
Procrastination will not take this country anywhere. A divided political party is a for the violence. All his efforts are already com-
surefire recipe for violence. If those arrested by the police ing to nought.
ZIMBABWE INDEPENDENT Phone: (024) 277 3934-8, (024) 279 8894-6, (024) 277 1635. Fax: (024) 277 3854
After hours Editorial: 0772 929 196
Voluntary Media
Council
Zimbabwe Independent is published weekly by
Zimind Publishers (Pvt) Ltd.
Editorial Staff: Sales, Marketing & Advertising staff: Subscriptions & Distribution:
of Zimbabwe
Cnr. Bessemer/Strand Multiprint Roads, Acting Editor-in-Chief: Kholwani Nyathi — Commercial Executive: Punish Murumbi Munn Marketing (1992) (Pvt) Ltd
Graniteside, Harare knyathi@standard.co.zw pmurumbi@alphamedia.co.zw PO Box 10460, Harare. Zimbabwe Independent newspaper
AMH subscribes to truthful, Tel: (024) 277 1722/3, (024) 274 8395/6/7, Cnr. Bessemer/Strand Roads subscribes to a Code of Conduct that
Fax: (024) 277 0435 Editor: Faith Zaba — fzaba@zimind.co.zw Business Development Manager: Wilson Masawa Graniteside, Harare
accurate and fair reporting. PO Box BE 1165, Belvedere, Harare Associate Editor: Nevanji Madanhire — wmasawa@alphamedia.co.zw promotes truthful, accurate, fair and
Website : http://www.theindependent.co.zw nmadanhire@zimind.co.zw Tel: (024) 277 3930-8 balanced news reporting. If we do not
Do we measure up? Commercial Manager: Olayayi Jack Cell: 0773 207 437, 0773 253 517,
meet these standards, register your
Chairman: Deputy News Editor: Tinashe Makichi ojack@zimind.co.zw 0737 185 178
If you don’t think so, Trevor Ncube Chief Reporter: Tinashe Kairiza Marketing Officer: Loyola Nyangoni complaints with the Voluntary Media
— tncube@alphamedia.co.zw Senior Political Reporter: Sydney Kawadza lnyangoni@newsday.co.zw E-mail: subscriptions@alphamedia.co.zw
please report all unethical Council of Zimbabwe at No 34
Directors: Group Business Editor: Shame Makoshori Bulawayo Office: Colenbrander Rd, Milton Park, Harare.
conduct to: Trevor Ncube (Chairman), Sternford Moyo, Deputy Group Business Editor: Kudzai Kuwaza Zimind P/L Byo, Amtec Building, Cnr 12th Printers:
Telephone us at 024-277 8096 or
Phineas Whata, Rashid Malik, Mahomed Business Reporters: Melody Chikono, Taurai Avenue/ Robert Mugabe Way, Bulawayo. Strand Multiprint
Nanabhay Mangudhla, Tatira Zwinoira, Mthandazo Nyoni Tel: (029) 288 3184-8, (029) 288 7057-9/ Cnr. Bessemer/Strand Multiprint Roads 024-277 8006
(029) 288 7069/70/71 Fax 276 837 Graniteside, Harare
Chief Executive Officer: Chief Sub-Editor: Zivisai Chagaka
24 Hr Complaints line: 0772 125 659
Kenias Mafukidze — kmafukidze@alphamedia. Sub-Editors: Joice Svotwa, Kudakwashe After hours editorial: 0777 135 163 Tel: (024) 277 1722/3, (024) 274 8395/6/7, E-mail: director@vmcz.co.zw or info@
Email: ombudsman@alphamedia.co.zw co.zw Gwabanayi, Blessing Charakupa-Makombe PO Box AC 558, Ascot, Bulawayo. Fax: 277 0435 vmcz.co.zw WhatsApp: 0772 125 658
or write to: E-mail addresses: Twitter: @vmcz
Alpha Media Holdings Newsdesk — newsdesk@zimind.co.zw, Website: http://www.vmcz.co.zw
businessdigest — business@zimind.co.zw
Cnr Strand/Bessemer Roads, Graniteside, Harare Facebook page: vmcz Zimbabwe
10 Zimbabwe independent JANUARY 20 TO 26, 2023
INTERACTIVE FEEDBACK
WhatsApp: 0772 929 196
the level of world poverty is at its stagger- Jane Fraser of Citigroup aptly stated in her bottom of the food chain.
ing highest point (According to a newly address last year, the “Three R’s: Russia, We know the lowest income economies
released Credit Suisse Report). The WEF of- Rates and Recession” are still in play. I produce one tenth of carbon emissions
column
I
ever heard of this CCC party. t was reported recently that
Then, just as the world was police officers have been
still adjusting to this fact, the made to sit through “Zanu PF
authorities displayed even more ideology classes”. We are told
political generosity. They sent that the junior cops are being
their publicity goons, disguised taught about the reeling party
as police officers, to mess with and being told to vote for it.
a meeting of the opposition in The police deny this, natural-
Budiriro. ly, with their spokesman telling
Yet again, they succeeded in the press that this is just “civic
revealing to the world that the education”.
opposition was indeed organis- Of course, some unpatriotic
ing on the ground, contrary to cops are whining about the is-
previous claims. sue. They even complain that
We fully expect Nelson they are poorly paid and hun-
Chamisa to send a letter of grati- gry as if that is important to the
tude to Zanu PF in due course, owners of the country.
for yet another round of free One unpatriotic cop was quot-
campaigning for his cause. Who ed as whining: “But it is not only
needs campaigning when your the junior cops who are discon-
opponent can be trusted to do tented over the training and oth-
this for you? er issues.
Zimbabwean opposition activists appear in court after a police raid in Harare. Even some high-ranking of-
Watch out ficials are not happy about how
F
ollowing the arrest of doz- you cannot be talking about a police work has been reduced
ens of opposition miscre- “boy” getting into power. Has “If they kept their to mere politicking. Behind the
ants, we can only hope the country run out of elders? scenes, everything is not well.
that people are paying attention The officers are disgruntled.”
to the criminal charges brought Petty thief promises, then Muckraker is sure that it is a
I
against them. This is important, n Chinhoyi, leaders of the lie that the cops are being taught
lest some of you fall into the reeling Zanu PF party have “Zanu PF ideology”.
temptation of committing the suspended the head of the al- surely they would This would suggest that the
same dastardly crimes. leged youth wing. party has any ideology to teach.
According to The Herald, the It is alleged that Tapiwa The Zanu PF we know and love
national paper of record, “the Masenda, the chairman of the no longer be real has none of that useless stuff.
25, who were allegedly clad in Zanu PF youth wing in Masho-
CCC regalia that include caps, naland West, ganged up with Free education?
Zanu PF leaders.”
M
helmets and T-shirts gathered fellow party rabble rousers uckraker commiser-
at house number 9239, Vhum-
ba Crescent Budiriro SB, Harare
and set upon a foreign national
who is running a mine over in MUCKRAKER ates with those among
us who are shocked that
pursuant to the alleged invita- Mhangura. for ED, Health workers for ED, they had to pay school fees at the
tion on social media platforms”. “The accused in the company Twitter: @MuckrakerZim Councillors for ED and Driving start of the new term, when our
The paper further reported: of three others, are said to have Schools for ED, Opposition for owners promised free education
“While at the gathering, they requested for keys to the fuel party. Since when? And, also, ED, Robbers for ED, and so forth. in 2022. We are now told that we
allegedly chanted CCC political tank where they filled a BMW X5 since when did using the name But Mike Bimha, the Zanu PF were never promised free edu-
party slogan ‘Ngaapinde hake with diesel. They also filled two of the party to commit crimes commissar, seems to be tell- cation in 2022 and that free edu-
Mukomana, 2023 Chamisa chete containers with 60 litres of die- become a crime? You are start- ing us that his party is not too cation will only be gradual.
chete’ meaning ‘let the boy get sel,” we are told. ing to confuse party members chaffed with some of these pa- “We are expecting that the
in, 2023 Chamisa only’, accord- According to the party, now. triotic groups. “We welcome number will increase gradually
ing to the State.” Masenda is accused of bring- the proliferation of these or- as we move towards a complete
The masses are urged to look ing “shame to the name of the Not-for-profit circle ganisations which are to support basic state-funded education,”
M
past the almost comical trans- party by engaging in violence”, ore and more confusion the party, there to support the the Ministry of Primary and Sec-
lations to take a serious look at and “using the name of the party is coming from party president, support our objective ondary Education said.
what constitutes a crime in the and his position to commit the headquarters. Over of achieving five million plus What is shocking is that peo-
New Dispensary. You cannot offences.” the past year, we have all seen voters for the president and the ple were expecting our owners
wear clothes of a certain col- This must be a shock to all up- “4ED” groups sprouting around party,” Bimha told journalists. to honour their promises. If they
our — especially helmets — and standing members of the party the nation in solidarity with His worry, he says, is that kept their promises, then surely
expect to keep walking our lib- that such acts of violence and our great leader. From Men be- some of these groups are just in they would no longer be real
erated streets freely. Secondly, theft now bring “shame” to their lievED, Miners for ED, Teachers it for the money. Zanu PF leaders.
Computer To Plate
Imaging
A3 GTO Plates ( 400 x 510)
A2 KORD Plates ( 550 x 650)
A2 Somz Plates (615 x 724)
12 Zimbabwe independent january 20 to 26, 2022
IN-DEPTH INTERVIEW
A highlight of Zimbabwe’s
crumbling public infrastructure is the
rapid deterioration of the country’s
road network. It is the result of many
Vehicle licensing truancy
stifling road rehabilitation
years of neglect by the government,
which responded about two years ago
by launching the emergency roads
rehabilitation programme (ERRP)
to repair the extensive damage. At
the centre of the mammoth task
is the Zimbabwe National Roads
Administration (Zinara), whose role is
to collect toll fees from motorists and
deploy funding towards the network’s
upkeep. Zinara chief executive officer
Nkosinathi Ncube (NN, pictured) this
week opened up to our business
reporter, Freeman Makopa (FM) in a
discussion that reveals how motorists,
evading from licensing their cars,
have become the biggest hurdle to
road rehabilitation. Below is how their
discussion turned out …
ANALYSIS
Forceful headwinds
SYDNEY KAWADZA
OPINION
opinion
Jacob
Mutisi
Online visibility will make it
ICT EXPERT
easy to market Zim’s produce
Zimbabwean-produced mangetout,
green beans, chillies, lettuce and fish are
common in European supermarkets. Zim-
babwe is also a producer of flue-cured to-
bacco, poultry, rice, maize, cotton, wheat,
soya beans, sorghum, groundnuts, seed
maize and burley tobacco grown under
dry land production as well as with sup-
plementary irrigation in the dry months.
Agriculture in Zimbabwe is on an up-
swing and young people are the driving
force. Do they know how to market their
produce to the international market? Do
we have the structures to market their pro-
duce? There are now over 250 000 black
African farmers with very limited distri-
bution channels and are now looking for
overseas markets.
Zimbabwe now needs to market its pro-
duce to the International community and
Zimbabwean farmers now need to have
cyber presence by developing websites.
International consumers are becoming
aware of foods containing synthetic pesti-
cides and fertilisers and are now switching
to organic foods. This is driving the market
growth of organic farming that is devoid
of chemicals used in crops. Zimbabwe is
on the forefront of this kind of agricultural
production.
With Zimbabwean farmers focusing on
organic produce, there is potential for the
nation’s horticulture sector to increase its
contribution to national exports, riding
on improved production by smallholder Zimbabwean fresh produce in a German market.
farmers and rural communities. The world
market does not know about this develop- and that's a story that the world needs pansion, the deteriorating ecological status is expected to provide livelihoods for about
ment and it is time for Zimbabwe’s farming to hear. The story does not need to come of the environment due to the heavy use of half the rural population, despite ongoing
community to embrace the use of technol- from the government; it is a story that has fertilisers and pesticides, and the issue of urbanisation in the country. Most farmers
ogy and have websites and social media to come from the farmers themselves. The food security. are engaged in low-scale subsistence farm-
presence to showcase their produce and same effort the government is putting in, There is also much room to improve in ing and have a hard time accessing credit
market it effectively. An agricultural Web- should be the same effort that it is putting terms of increasing the use of machinery and paying it back.
site helps to convey transparency, provide out, to push the farmers to market their and advanced technologies in the agricul- With this projected continuous growth
a place to spotlight customers and prod- products online with Zimtrade and the tural sector. The government of Zimbabwe in Zimbabwe’s agricultural sectors, every
ucts, and for customers to advocate for Zimbabwe Investment and Development and its partners, has made significant ef- producer, farmer and stakeholder should
their produce. Authority playing a significant role to mar- forts to integrate the latest and new agricul- be playing their role in creating marketing
Zimbabwe has a history of high-quality ket Zimbabwe’s farmers and their produce. tural technologies to improve the sector’s opportunities for this potential agricultural
agricultural products that it has to offer International agriculturalists and commod- efficiency and increase land productivity, powerhouse. Zimbabwe is now a digital
that are in huge demand all over the world. ity traders are looking for partners and sup- with the latest being Pfumvudza. Some economy and the government should be
Zimbabwe should take advantage of con- pliers and most people do not trust farmers, major product categories, including soya tapping into the experts of ICT profession-
sumer behaviour that is changing every- businesses and institutions without a web beans and dairy foods, have been heav- als to use the new and existing ICT struc-
where. The international community wants presence and good website. ily dependent on imports for many years. tures to tell the success story of the agricul-
to consume food products that are healthi- A clean, modern webpage that is regu- Other inhibitors to the sector's growth in- tural sector and to build ICT infrastructure
er, natural, organic, ethically sourced, fair- larly updated and pops up in search engines clude the ageing workforce with a low level that will help each and every Zimbabwean
ly traded, fresh and original, gluten-free, creates an instant credibility boost. For lo- of education and the underdeveloped rural to market their agriculture products with
sourced from single destinations; products cal farmers, potential partners, customers financial services system. ease. ICT and agriculture is the link that
that tell a story or that help consumers and distributors will trust a local farmer The government has adopted a number will make Zimbabwe’s agricultural sector
make a positive impact in someone else’s who has all their information in one place, of multi-year policies, such as a pledge to great again.
life. Zimbabwe has all of that to offer and online. double farmer incomes and become self-
more, this is where our nation can find a Despite the rapid development of Zimba- sufficient in pulses over an unspecified Mutisi is the CEO of Hansole Investments (Pvt)
very attractive competitive advantage. By bwe’s agricultural sector, problems emerge short-term period. However, reform needs Ltd. He is the current chairperson of Zimbabwe
having websites and social media presence in relation to a variety of aspects, including to go much deeper, especially considering Information & Communication Technology, a di-
Zimbabwe’s farmers and producers have the shrinking arable land due to urban ex- the fact that in the years to 2050, agriculture vision of Zimbabwe Institution of Engineers.
everything to gain because it helps them to
build partnerships and an increase in sales,
broader market access, less time spent
finding new markets, and more profits at
the end of the year in the long term.
To the government of Zimbabwe, agri-
culture has always been of great impor-
tance, as it has realised that there is a great
demand for food by the world's growing
population. The Zimbabwe government
has been supporting the agricultural sec-
tor and has been introducing a number of
policies, trying to stabilise the output and
seeking ways to ensure the sector is grow-
ing healthily and sustainably. The Govern-
ment of Zimbabwe has been supportive of
the nation’s agricultural sector since in-
dependence in 1980, and there is broader
political consensus as to the need for land,
labour and tax reform to help the sector
reach its potential.
Due to supportive policies, the agri-
cultural sector’s performance has been
continuously improving steadily over the
years. Zimbabwe keeps its first rank in the
world in terms of farming output, produc-
ing large quantities of rice, wheat, cotton,
meat, poultry, eggs and fishery products.
The new strategy calls for more efforts to
ensure the supply of key farm products,
promoting the supply-side structural re-
form and, more importantly, enhancing
environmental protection as well as pollu-
tion prevention and waste treatment.
Zimbabwe’s farmers are telling a story Zimbabwe has a history of high-quality agricultural products that it has to offer that are in huge demand all over the world.
16 Zimbabwe independent january 20 to 26, 2023
MOTORING
Specifications
Claimed fuel economy: 8.5L/100km
Drive type: Full-time 4WD
Engine: 3.0-litre V6 diesel
Fuel tank: 80L
Power: 184kW
Torque: 600Nm
Towing capacity: 3500kg
Transmission: 10AT
COLUMN
World
View
GWYNnE DYER
Return of the alliances
Alliances are as old as civilisation. Older,
actually: almost every hunter-gathererer
band that anthropologists have studied,
from the New Guinea highlanders to the
Yanomamo in the Amazon, made alli-
ances with other groups to try to protect
themselves.
But they often also ended up fighting peo-
ple they had no quarrel with.
“The enemy of my enemy is my friend”
is the usual logic that the alliances are built
on, but people tend to overlook the fact that
alliances also mean that “the enemy of my
ally is my enemy too”.
Right now, the various regional alliances
that already exist seem to be consolidating
into a single all-embracing alliance system.
It was that kind of system that made the
First World War happen and we probably
don’t want to see that happen again.
Only three years ago, there was only one
big alliance in the world: the North Atlan-
tic Treaty Organisation (Nato), founded in
1949, victorious in the Cold War and, more
recently, an alliance in search of a new role.
Almost everybody in Europe and North
America belonged to it.
Apart from that, the United States had
bilateral alliances or alliance-like arrange-
ments with a number of countries in the
Middle East (Israel), East Asia (Japan, South
Respect
Gwenzi Weak trading data shows RBZ is
Financial ANALYST
in control of the exchange rate
The local unit continued on a freefall into
the new year, completing two straight RBZ to the public (market).
weeks of sharp losses after easing by We hailed the move as sincere and com-
3,63% this week to settle at ZW$732 per mitment towards the free market and en-
US dollar. visaged that through this mechanism, the
The losing trend is a carry over from exchange rate could stabilise.
2022, over which it lost value against the However, from the data made available
US in all but one auction session out of 48 by the RBZ, it shows that the interbank re-
conducted during the year. So far in 2023, mains a dormant and therefore ineffective
the Zimdollar has shed 8% under two ses- market for price discovery.
sions, its quickest and deepest loss since Data shows that in 2022, the interbank
the reintroduction of the Zimdollar in traded only US$200 million, which is less
2019. than a percent of the total foreign pay-
On a cumulative basis the Zimdollar lost ments for the year.
85% against the USD in 2022, again, its The outturn was even lower than the
worst outturn since 2019. In 2021 the local US$300 million traded on the respective
unit recorded its most improved position market in 2021.
against the greenback, easing by only 28% This means its allure for price discovery
. In 2019 and 2020, the Zimdollar eased by is diminished and rendered ineffective.
82% apiece triggering massive inflation The auction market thus remains the
which spiralled into hyperinflation before market maker and by virtue of its manip-
a reconfiguration of the auction market. ulation by authorities equally represents a
The RBZ has made efforts to continu- variance to pure market position.
ously drive the currency market towards This defines why Zimbabwe is always
full liberalisation. battling a worse off premium between the
parallel market and the auction, the later
Auction market overview is not liberal.
A total of US$14,5 million was traded on The diminishing trades on the auc-
the auction market this week, up from tion market is largely a demonstration
US$10,8 million in the prior week. The av- of increased US dollar transacting in the
erage weekly value traded has been trend- economy.
ing down since 2022. This means most companies are equally
From an average of US$40 million a week able to earn forex even without having to
in 2021, trades eased to an average of export.
US$23 million a week in 2022, a 43% de- Our study shows that at least 70% of
cline. In the final quarter of 2022, aver- transactions by value in the economy
age weekly trades eased to US$12 million are being settled directly in forex across
a week reflecting a sharp loss in trades on parties.
the respective market. Another factor why the auction market
contribution has been diminishing is a
Key driver of low auction trades fairly narrow variance between the auc-
Data from 2022 foreign payments sched- tion and parallel market for the greater
ule shows a diminishing contribution from part of 2022, particularly in the second half
auction market trades against foreign cur- following an introduction of a raft of both
rency accounts. fiscal and monetary measures intended at
Out of a total US$8,6 billion traded in stemming the currency spiral.
2022, the auction market handled only This would encourage ZWL transacting,
13% of the volumes. reduce speculative demand of forex and
The contribution is a decline from 18% utilisation of forex deposits by holders in
in the prior year. settling local dues.
As auction flows fell in both contribu- tion flows represented a shift towards in- will effectively drive the market to price
tion and absolute value terms, payments terbank, given the Reserve Bank’s adjust- discovery. Gwenzi is a financial analyst and MD of Equity
through FCAs went up, in respective terms. ment in trading limits for the later. Assuming so would mean a shift in who Axis, a financial media firm offering business
In our analysis in the final quarter of the We also assumed since the interbank gets to dictate the effective formal ex- intelligence, economic and equity research. —
year, we deduced that the decline in auc- will now be trading higher volumes, it change rate and this would a shift from respect@equityaxis.net
ZIMBABWE INDEPENDENT January 20 to 26, 2023 X1
IndependentXtra
Zimbabwe Independent
C R OSS WO R D P U Z Z L E & Q U I Z Z E S
Across
2. Categories (5)
8. Clergyman ministering to an institu-
tion (8)
9. Rope or canvas headgear for a horse
(6)
10. The USA’s Prairie State (8)
11. Great coolness and composure (6)
12. News report (8)
16. Psychological suffering (8)
18. House of worship (6)
21. Revenge (8)
23. Put into cipher (6)
24. Showing careful forethought (8)
25. Formed (6)
Down
2. Skin covering the top of the head (5)
3. Proportion (5) SOLUTIONS
4. Write carelessly (8)
5. Release after a security has been
paid (4)
6. Bed covering (7)
7. Woman’s two piece bathing suit (6)
11. Zealous (4)
13. Lacking zest or vivacity (8)
14. Body of a church (4)
15. Repeat (7)
© Spencer Mkoki 17. Item applied to a sprain in order to
reduce swelling (3, 3)
19. Birthplace of Mohammed (5)
20. Narrow shelf (5)
22. Native of Edinburg, for example (4)
Zimbabwe independent XTRA january 20 to 26, 2023 X3
Santiago Island in
Cape Verde
South Luangwa or Kafue National Parks to tropical beaches and boasts countless bays and lions on the nearby plains.
Sarah see herds of elephants, packs of wild dogs, and islands. Its crystal clear waters are home Cape Verde
Kingdom prides of lions, and much more. Go down
the Zambezi River in a canoe in the Lower
to over 600 rare species of fish — making it
perfect for snorkeling, boating, and scuba A stunning volcanic island chain, Cape
Travel Zambezi National Park. Visit Victoria Falls, diving. But Malawi is more than its diverse Verde (also called Cabo Verde) comprises
Blogger known locally as Mosi-oa-Tunya (The natural landscapes. Travelers could spend 10 islands and 5 islets 310 miles off the coast
Smoke That Thunders) plunging a misty 590 weeks here exploring. of West Africa, of which Sal and Boa Vista
feet into the narrow Batoka Gorge below. Travelers often skip African cities for are the most known to tourists — predomi-
I’m not suggesting that you should write Zambia is named after the Zambezi River, the wilderness, but Malawi’s capital has a nantly for their beaches. Besides Sal and
off going on safari to South Africa, Kenya, the fourth biggest in Africa, and is a com- number of activities and attractions to keep Boa Vista, there are eight other islands: San-
or Tanzania, nor that you should erase the pletely landlocked nation. The country is you occupied. Shoppers will love the many tiago, Fogo, São Vicente, Santo Antão, Maio,
Egyptian pyramids or the Moroccan medi- renowned for its copper and emeralds, as local markets. Alternatively, a hike up Nk- Brava, Luzia, and São Nicolau. Cape Verde
nas from your bucket list. But there are well as the famous Victoria Falls, which at homa Mountain will earn you panoramic is famous for its warm tropical climate, vol-
many great countries on the African con- 5,600 feet wide is double the height of Nia- views over the city. A visit to the Lilongwe canic islands, wonderful musicians, and
tinent that don’t get the attention they de- gara Falls, and the largest curtain of falling Wildlife Centre, the country’s only animal delicious cuisine. Americans may not have
serve, and it is these unique gems that de- water in the world. All of Africa’s Big Five sanctuary, is a must. The tropical waters of heard much about Cape Verde, but for many
serve a place on your bucket list. (lion, leopard, elephant, rhino, and buf- Lake Malawi are teeming with colorful fish, Europeans, the islands are a popular winter
Here are my suggestions for five unique falo) can be found here, as well as an array sandy beaches, and rocky islands. escape that’s relatively close to home.
African countries that should be on your of adventure activities, including white wa- This is a great place to spot the Big Five The Cape Verde islands have no shortage
radar. ter rafting, canoeing, helicopter flights, and and at the same time support a conserva- of activities: driving tours of the sand dunes,
Zambia bungee jumping, just to name a few. tion success story. Poachers and human hiking, water sports that include kite surf-
Zambia is also home to a couple of really encroachment had destroyed the wildlife ing and diving, and of course, lovely seclud-
This magnificent African country sitting special “orphanages.” Chimfunshi Wild- in the park, but in 2003, the non-profit ed white sand and black sand beaches. The
right in the heart of the African continent life Orphanage is a chimpanzee sanctu- conservation group African Parks part- Cape Verde islands are also rich in culture
has been my adopted home for the last 30 ary home to around 130 adult and young nered with the Malawi Department of Na- and festivals. Each of the islands has its own
years. Zambia is well off the beaten path chimps, and the Game Rangers Interna- tional Parks and Wildlife and reintroduced charm. Santo Antão is home to stunning na-
when it comes to safaris and tourism. There tional Elephant Orphanage rescues, reha- black rhinos, lions, giraffes, and more. Al- ture, mountains, and lush vegetation, Fogo
are many people out there — members of bilitates, and releases orphaned elephant most two decades later, flourishing wildlife is known for its volcano, and São Vicente is
my extended family included — who have calves. Both are worth a visit if you have the brings visitors to the park. the cultural heart of the archipelago. Maio,
no idea exactly where it is and would strug- opportunity. Visit southern Malawi where farmers Brava, and São Nicolau are hardly visited
gle to point Zambia out on a map. Indeed, Malawi grow tea and coffee. First cultivated here by and are great places to discover authentic
somewhere around 50 percent of the visi- the British in the 1900s, tea plants thrive in Cape Verdean culture. Santa Luzia is unin-
tors who set foot in the country, only come Malawi is often referred to as “The Warm the elevation of the Shire Highlands thanks habited, and Santiago, the main island, has
to visit the famous Victoria Falls — but there Heart of Africa” because of the friendliness to its cooler climate. Tour Satemwa Tea and a bit of everything. Island hopping is a great
is so much more to discover here. of its people. This sub-Saharan landlocked Coffee Estate and relax with a cup of earthy way to experience the Republic of Cabo
Around 30 percent of Zambia is part of country is nestled between Zambia, Tanza- oolong or natural-processed arabica. Verde. — Travel Awaits.
a national park or protected game reserve,
and there’s an abundance of wildlife here.
nia, and Mozambique.
Lake Malawi, a UNESCO World Heritage
Fit and adventurous travelers can organ-
ize 4-day treks 9,824 feet up the slopes of
• To be continued next week.
You definitely don’t have to worry about Site, is the second largest lake in Africa (the Mt. Mulanje with local guides.Here you’ll Kingdom – born and raised in Sydney, Australia
it being crowded — unlike elsewhere on largest is Lake Tanganyika in neighboring find hippos and crocodiles in the Shire Riv- – is a mountain climber and guide, traveller, yoga
the continent. Plan a sensational safari in Zambia). The lake is surrounded by sandy er, and elephants, zebras, kudus, leopards, teacher, trail runner and mother of two.
I t ’ s a w e i r d wo r l d
HEALTH PAGE
SPORTS NEWS
Bolt’s US$13m
vanishes from
his account
Olympic champion Usain Bolt is seek-
ing to recover more than US$12.7 million
that disappeared from his account with a
Jamaican investment firm and is willing to
take the case to court if necessary, Bolt's
attorney said.
Bolt last week was informed that his ac-
count balance at Kingston-based Stocks
and Securities Ltd (SSL) had inexplicably
dwindled to just $12,000, lawyer Linton
Wallabies coach Eddie Jones Gordon told Reuters late on Tuesday.
"We will be going to court with the mat-
Incoming Wallabies boss Eddie Jones "You're coaching your country and it That might be going back to that more ag- ter" if the company does not return the
has vowed to make the team super-fit gets taken away from you, but you move gressive, attacking Australian style of funds, Gordon said.
leading into the Rugby World Cup this on and just get on with it, then re-focus rugby, with a more aggressive defence. "It is a grave disappointment, and we are
year while reverting to a more attacking on what you're doing. Really playing like a traditional Austral- hoping that the matter will be resolved in
style of rugby. "It's been 18 years since I've coached ian side did. a way that Mr. Bolt will recover his money
The former England coach was sensa- Australia and, in that time, I've coached "We want to get super fit," he added. and be able to live in peace."
tionally handed a five-year contract by South Africa (as a technical consultant "There are parts of the modern game SSL said in a Jan. 12 statement that it
Australia this week when Dave Rennie in 2007), Japan and England. I've won a where you have to play the way it is now, had become aware of fraudulent activ-
was sacked. World Cup final, lost a World Cup final, but there are other parts where you can ity by a former employee and has referred
It will be the veteran's second stint in and now I get a chance to coach my own go back to tradition. the matter to law enforcement, adding
charge after his 2001-2005 spell during country so it's quite humbling," he added. "Australia were traditionally flat at the that it had taken steps to secure assets and
which he took the Wallabies to the 2003 New Zealander Rennie, who took over line, numbers at the line, asking ques- strengthen protocols.
World Cup final, where they lost on home from Michael Cheika at the end of 2019, tions of the opposition, and making good SSL did not immediately respond to an
soil to England, thanks to a last-minute was fired after only five wins from 14 decisions. That's what we want to do." email or phone calls seeking further com-
drop-goal from Jonny Wilkinson. Tests last year. While the Wallabies is Jones' main ment. The Jamaica Constabulary Force said
The 62-year-old is due to officially start Jones, a renowned hard taskmaster, focus, he will be back at Twickenham on Monday that its fraud and financial in-
on 29 January on a deal that will take him said he was determined to turn things in May to lead the Barbarians against a vestigation teams were probing "alleged
through to the 2027 World Cup in Aus- around, with clear ideas on where his side World XV, a task he is savouring. fraudulent activities at (SSL) which are
tralia and he said there was unfinished can improve. "I can't wait to coach the Barbarians said to have affected the accounts of Mr.
business. "This (Australia) team is not too far again this year — I had that commitment Usain Bolt among other individuals."
"To be honest, I never really thought away. Dave Rennie has done a great job written into my new contract. It'll be a Finance Minister Nigel Clarke said on
about getting the opportunity to coach under difficult circumstances, as they great challenge," he said. Tuesday night that SSL had allegedly com-
Australia again. The first time in 2005, that were probably affected more by Covid Jones previously coached the Bar- mitted "alarming and evil fraud" and that
was a difficult time," Jones, who was axed than most countries," he said. barians in a 33-31 defeat by Fiji in 2019. authorities would "bring all perpetrators to
by England in December, told reporters. "We'll need to find a point of difference. — AFP. justice." — Reuters.
RUGBY Jones to make Wallabies super fit/19
9 7 7 1 5 6 4 0 6 9 0 0 0
INDEPENDENT
SPORT
ISSN 1564 - 0698
Brilliant Burl a
KEVIN MAPASURE
bundle of joy
in the first of three One Day Internation-
als at Harare Sports Club on Wednesday.
Burl, who helped Zimbabwe clinch the
T20 series after a brilliant display with
both ball and bat, scored 53 runs as the
hosts took the lead in the series.
The second match will be played at the
same venue tomorrow.
About his rich vein of form, Burl said
that he has been working hard behind
the scenes and he has also benefited
from playing a lot of cricket over the last
12 months.
"It's a lot of hard work going on behind
the scenes. We have been playing a lot of
cricket in the last 12 to 18 months. So it's
just a combination of putting my head
down, doing the right things and I am
just trying to put in some performances
to help Zimbabwe win games," the right-
hand batsman said.
"I am ecstatic about my form. I am just
grateful for my coaches; you know just
ensuring that we keep up the workload
and just reminding me that I keep up
performances to win games for Zimba-
bwe. You know that is my job coming in
at five, six or seven. It is a difficult role
to play; it is a selfless role where you are
expected to score a lot of runs quickly
without facing that many balls. It might
come off in one series and not come off in
the next but I relish the opportunity that
I have."
Burl also expressed delight at see-
ing young wicket-keeper batsman Clive
Madande coming in to win the game for
Zimbabwe.
Zimbabwe needed four runs from the
last ball and Madande delivered by clob-
bering the ball to the fence sparking wild
celebrations from the team pavilion as
well as among the few fans that had
stayed on following rains.
"Ecstatic for Clive, I just kept remind-
ing him that he can be the guy who wins
the game for your country and he did
it. He is quick between the wickets. It's
nice to play with him. He is a good player
who is coming out of his shell perform-
ing well."
Zimbabwe will be hoping to seal their
second home series win under coach
Dave Houghton in tomorrow's match.
"As the home team you want to win
every game. We have put our foot for-
ward by winning the first game; it's cru-
cial going into the second ODI. We only
need one win to win the series but we
would like to win all three," Burl said.
World
Name Price (US$) % Change Name Price (US$) % Change Name Price (US$) % Change
JSE ASI 79,865.50 +0.61 S&P 100 1,744.77 -1.60 FTSE All World (Exc US)
NGX 52,615.51 -0.16 S&P 500 3,928.86 -1.56 Russell 1000 2,160.68 -1.54
Markets
NSE ASI 119.37 -1.08 Nasdaq 100 11,410.29 -1.27 Russell 2000 1.854.36 -1.59
EGX 30 15,987.15 +0.03 DJIA 33,296.96 -1.81
Date Turnover Volume No. of Trades Market Cap.
Jan 13-19 US$ 75 452,19 184 111 21 US$658,76m
LOCAL NEWS
GDP growth will be lower than projected: Report Hakainde Hichilema announced in a
statement. — The Africa Report.
and more entrenched onto his iPad, at the “The true gift of a surgeon is the ability to work, so these kids are addicted to distrac- Makwara is a chartered accountant with both
same time occasionally interjecting the single-mindedly focus on one person and tions and when they come to the work- local and international experience in finance, ac-
meeting giving his views. What then set me complete a series of tasks over the course place, those traits follow them. counting, auditing and business strategy. He is
off was his iPad somehow leaned towards of many hours, “says neuropsychologist part of the Institute of Chartered Accountants in
my side of the table and to the shock of my Cynthia Kubu, PHD.
Stress Zimbabwe and the views expressed in this article
life, there was a half-naked woman danc- “Based on over a half-century of cog- Employers are not spending time dealing are his personal views based on his professional
ing on the screen. It was clear to me that nitive science and more recent studies on with the mental health state of their work- experiences.
this older chap was fully distracted in this
meeting.
To avoid myself getting distracted by
what I had seen on his iPad, I turned my
attention to the other side of the table.
Throughout the meeting, from time-to-
time members were either checking their
cell phones or scrolling their iPads.
INSTITUTE OF CORPORATE DIRECTORS ZIMBABWE
Attention spans are getting shorter and Better Corporate Directors, Better Boards, Better Business
CERTIFICATION
our year-end audit at my workplace, so as
I tried to concentrate on the proceedings at
the school, payment authorisations were
coming onto my email and WhatsApp, au-
ditors chasing me and of course my supe-
riors were also requesting feedback on key 30 January - 03 February 2023 @ Management Training Bureau, Msasa
issues. All these competing demands were
easy distractions for me.
Are you distracted?
If you see yourself constantly checking
your gadgets i.e., cellphone, iPad and lap-
top etc. when you are in a meeting or a
gathering and even by yourself, it may be
a sign that you are distracted. Do you at
times see yourself just scrolling through Bring more value to your board! Designed by the globally-respected thought leaders at Governance Solutions-
your WhatsApp for no apparent reason or Canada in affiliation with the Institute of Corporate Directors Zimbabwe (ICDZ). This board of directors training
worse scrolling through your pictures in
the middle of an activity, you are probably program gives you the confidence and competence to be more effective in the boardroom.
distracted. In the middle of conversations, The Professional Director Certification Program™ is a comprehensive and world-class Corporate Director training
do you find yourself losing your thought
process? Do you suddenly get great ideas program. If you are engaged in board governance, you can work at your convenience and pace to earn an
while in a meeting or think of important accredited university-level certification (Professional Director™).
emails you have not responded to? In the
middle of work, if you see yourself having The Professional Director Certification Program enhances your credibility. The program promotes development
a need to check YouTube or Twitter or any so- and recognition for individuals.
cial platform after every few minutes, this
is a strong indicator that you are easily dis- MODULES
tracted. Do you find yourself texting while
driving or talking? Whenever a notification
beeps, do you immediately stop whatever Module 1: Governance and Strategy
you are doing just to check what it is? Module 2: Governance and Risk
When your kids are having a meal, do
you find yourself screaming at them to eat Module 3: Governance and People
because they are glancing at the TV? Can Module 4: Governance and Board Effectiveness
your kid survive a few minutes without
looking at their phone? These normally
Module 5: Governance and Resources
breed a culture of distraction. More and Module 6: Governance Culture and Behaviour
more kids are developing an addiction to Examination
distractions which then haunts them even
as adults in the workplace as they just can-
not concentrate on one thing at a time. I PHYSICAL CLASSES CERTIFICATION FEES BANKING DETAILS
know of teenagers who read while sitting
in front of the TV or with their headphones Members: ZWL$ 950 000,00 USD$ 550 ZB Bank, First Street
on and they say that's how they are able to Institute Of Corporate Directors Zimbabwe
concentrate. All this indicates how we have Non - Members: ZWL$ 1,100,000,00
Acc No: 4112-535307-200
normalised distractions. (Payable in USD) FCA: 4112-535307-405
Distractions under multitasking
Imagine a doctor performing a C-section Email: admin@icd.co.zw / training@icd.co.zw / 0242 692838 / +263 772 236 003 / +263 779 520 700 / +263 773 237 914
while on a conference call or catching up Supported By: Our Official Media Partners:
with a game of football, I am sure all of
us would be angered by such actions and
can agree that, it is not multitasking, some
would say this applies only to life and death
4 Zimbabwe independent BUSINESS DIGEST january 20 to 26, 2023
COLUMN
Courage
Masona
economist
Is Vision 2030 achievable
The multi-million dollar question that we
all asked ourselves at one time or another
in the face of energy crisis?
is, "Why are we here as a country?" And
where do we see ourselves in the next 10
years or beyond?
As a country, we have a specific pur-
pose, but what helps us move forward and
direct our purpose is a vision. Upon real-
ising that a country cannot succeed with-
out a vision, the government of Zimbabwe
in 2018 crafted an inspiring vision, the
much-talked-about "Vision 2030." The
dream is for Zimbabwe to be an upper-
middle-income economy by 2030. The vi-
sion addresses the aspirations contained
in the Sustainable Development Goals and
Agenda 2063 aimed at eradicating poverty
in Africa.
Currently, the World Bank (WB) has
classified Zimbabwe as a lower-middle-
income country for the current 2023 fiscal
year. The WB assigns the world’s econo-
mies to four income groups: low, lower-
middle, upper-middle and high income.
For the current 2023 fiscal year, low-in-
come economies are defined as those with
a GNI per capita, calculated using the World
Bank Atlas method, of US$1 085 or less in
2021; lower middle-income economies are
those with a GNI per capita between US$1
086 and US$4 255; upper middle-income
economies are those with a GNI per cap-
ita between US$4 256 and US$13 205; and
high-income economies are those with a
GNI per capita of US$13 205 or more.
GNP per capita for Zimbabwe stood at
around US$1 500 for the year 2021. These
statistics show Zimbabwe still has a mam-
moth task ahead of it to earn upper mid-
dle-income status.
Simulations show that Zimbabwe will
need to reach productivity growth rates
of 8-9% a year in the next seven years to
advance to UMIC status. Such growth rates
of 8-9% cannot be attained if the country’s
energy crisis is not resolved. Achieving
such unprecedented rates for Zimbabwe
will require a dramatic improvement in the
policy environment to address the binding
constraints on productivity growth.
Specifically, energy is an enabler and a
pathway towards addressing social, en-
vironmental, and economic challenges
through an integrated approach that in-
cludes providing equal energy access and
consumption levels, leapfrogging the dirty
fuels of the past with a future of clean re- energy crisis marked by rolling blackouts, of well-organised renewable energy re- the rollout of renewable power in Africa.
newable energy development; and balanc- Zimbabwe could find itself in a dark place source data. For strategies and best practices, the Zim-
ing the demand and supply of energy, no- for a much longer time. Inadequate and harmonised enabling babwean government can look to positive
tably through programmes such as energy Increasing productivity is essential for environment for accelerating the develop- experiences in leading markets such as
efficiency, to enhance economic growth. reaching upper middle-class status, rais- ment of biomass energy, such as sustain- South Africa and Kenya.
Under its renewable energy policy, the ing incomes, and improving livelihoods. able charcoal production and consumption In a nutshell, Zera must "level up" to
Zimbabwe Energy Regulatory Authority Countries that have transitioned to UMIC value chains, are another challenge faced meet the ambitious energy supply goals it
(Zera) has set out ambitious energy pro- status have seen an improvement in the by the country. has set for itself and address the challenges
duction targets of up to 1 100 megawatts economy, with extreme poverty falling, The government of Zimbabwe needs to in order to make Vision 2030 achievable.
of renewable energy by 2025. According more jobs being created, and easier access invest in liquid petroleum gas infrastruc- Authorities should be geared to tap the
to Zera, this will represent 16,5% of the to health, education, and social protection. ture, both upstream and downstream, to aforementioned opportunities, which will
country’s total energy production, and that If the energy crisis is not resolved, Zimba- ensure its sustainable availability, accessi- enable Zimbabwe to reach universal mod-
is expected to increase to 26,5% by 2030. bwe's path to upper middle-income status bility and affordability. ern energy access by 2030 in pursuit of the
Though I applaud Zera’s will, I doubt if will remain onerous and arduous. global agenda of the Sustainable Develop-
these targets can be met given the level of It cannot be overemphasised that energy
Opportunities ment Goals and Agenda 2063.
corruption and bad corporate governance is a key enabler and a pathway towards ad- In order to gain UMIC status, the country However, implementation of each para-
in these parastatals. The status quo is ex- dressing social, environmental and eco- must take advantage of falling technology digm service requires innovative solutions
acerbated by stalled foreign direct invest- nomic challenges that Zimbabwe is facing costs, its resource abundance and a pipe- in terms of enabling environment policy,
ment in the energy sector. Zimbabwe faces today. line of high-quality projects, such as the access to finance, capacity-building in
an enormous energy challenge owing to Gwanda solar project. terms of knowledge management and skill,
the significant growth in its urban popula-
Challenges and opportunities In addition, the country should also take and technology.
tion, which entails a much larger energy Zimbabwe has suffered acute power advantage of the existence of international Capacity should be developed in renewa-
demand and calls for a better-performing shortages for several years, as successive donor partners and financing mechanisms ble energy procurement programmes. Am-
energy sector. droughts have resulted in poor inflows into (Scaling Up Renewable Energy Programme, bitious targets set by Zera are not enough.
Energy poverty remains a serious obsta- the Kariba Dam and as ageing coal-fired Climate Investment Facility, Green Climate Investors are also looking at whether the
cle to economic and human development power stations have repeatedly broken Fund, Global Environment Facility, African government has the technical capacity to
in most parts of the continent. As a region, down Development Fund, etc.) and emerging fi- deliver.
Africa continues to face critical challenges Though there have been improvements nanciers (e.g., Brics countries (Brazil, Rus-
related to its energy sector, which is char- and progress made in the last five years in sian Federation, India, China, and South Masona is an economist and economics lec-
acterised by a lack of access to modern terms of sustainable energy development, Africa). turer at the Zimbabwe Ezekiel Guti University.
energy services (especially in rural areas), the speed of energy access and renew- Various global, continental, and regional — cmasona@zegu.ac.zw. These weekly New
poor infrastructure, low purchasing pow- able energy development falls far short of energy initiatives also exist (Sustainable Perspectives articles published in the Zimba-
er, low investments, and overdependence achieving universal energy access by 2030. Energy for All, PIDA, African Renewable bwe Independent are coordinated by Lovemore
on traditional biomass to meet basic en- This is due to major challenges, including Energy Initiative, Power Africa, Geother- Kadenge, an independent consultant, past pres-
ergy needs. lack of a clear and coherent policy, regu- mal Risk Mitigation Facility, etc.). Further, ident of the Zimbabwe Economics Society and
Zimbabwe, along with other countries latory, and institutional framework; inad- regional considerations in harmonising the past president of the Chartered Governance &
in the region, has, for years, imported equate information and technical capacity; common African position on Agenda 2063 Accountancy Institute in Zimbabwe (CGI Zim-
electricity from South Africa, but with the inadequate financing and investment; lack of the African Union and the 2030 Agenda babwe). — kadenge.zes@gmail.com or mobile:
continent’s largest economy facing its own of technology transfer and skill; and a lack for Sustainable Development are driving +263 772 382 852.
ZIMBABWE INDEPENDENT BUSINESS DIGEST JANUARY 20 TO 26, 2023 5
Victor
Bhoroma
ANALYST
Why Zim persistently
FOR the fourth year running, Zimbabwe
recorded average annual inflation in triple
digits with 2022 monthly average at 184%.
Despite the significant fall from the eye-
ranks high on inflation
watering 838% (Recorded in July 2020) to that monthly or annual money supply from ZW$470 billion in January to over electricity, or any funding for the provi-
244% for the month of December 2022, growth far outweighs production of goods ZW$2 trillion as of December. The growth sion of goods or services provided for at
the Consumer Price Index (CPI) continues and services in the economy. in money supply also shows the loss of val- noncommercial rates or below the market
to increase marginally every month show- In the past 3 years, the central bank has ue for the Zimbabwean Dollar against the prices. Often, quasi fiscal activities are not
ing that economic fundamentals are not been involved in quantitive easing to credit greenback. provided for in the national budget.
stable and are not being addressed. exporters who are compelled to surrender Growth in broad money supply cre- Between 2005 and 2008, Zimbabwe’s
The Zimbabwean dollar was relaunched 40% of their export earnings to the central ates artificial demand for foreign currency central bank carried out a plethora of qua-
officially in February 2019 at a rate of bank at a pegged exchange rate. thereby weakening the Zimbabwean Dol- si fiscal operations that were key drivers of
US$1: ZW$2.5 but has consistently depre- The dilemma for the central bank is that lar and increasing consumer prices. hyperinflation in the economy.
ciated with current market rate at US$1: it needs cheap foreign currency to pay its Read full article on https://www.thein-
ZW$1100. The depreciating local currency debt and finance government foreign cur-
Quasi fiscal activities dependent.co.zw
has made life unbearable for labour and rency needs (especially offshore expendi- Quasi-fiscal activities are financing ac-
households as income adjustments from ture), while at the same time it must credit tivities undertaken by state-owned banks Bhoroma is an economic analyst. He holds an
salaries and other sources such as informal various exporters with the surrendered and state enterprises at the direction of the MBA from the University of Zimbabwe (UZ).
trade cannot match the price increases of portion of non-existent local currency. government. Examples include subsidized — vbhoroma@gmail.com or Twitter @VictorB-
basic goods and services. In 2022 alone, broad money supply grew bank loans, subsidized imports of fuel, horoma1
Similarly, businesses continue to lose
value and consistently make losses in-
duced by exchange rate differentials. The
unstable environment makes credit in lo-
cal currency a predictable loss. High lev-
els of inflation also create an incentive to
spend money while discouraging savings
in the economy. This fully explains the ex-
tremely high velocity of the Zimbabwean
dollar which works as a transitory curren-
cy which is quickly disposed off in favour
of foreign currency (artificial demand for
foreign currency). Inflation League
With annual inflation of 244% in De-
cember 2022, Zimbabwe maintained its
top stop on the globe beating war torn
countries such as Ukraine, Syria, Yemen,
Libya, Sudan, Somalia, Central African
Republic (CAR), Democratic Republic of
Congo (DRC) and Afghanistan.
Coming a distant second on the globe is
Venezuela which had inflation rate of 156%
in October 2022. In the SADC region, Ha-
rare has largely been a pace setter on high
inflation since 2018. In 2022, South Africa
had average monthly inflation of 7% while
neighbors also had relatively manageable
levels of inflation rate with Zambia aver-
aging 11%, Botswana (12%), Mozambique
(10%) and Namibia (6%).
Difficult past
Harare has already had to grapple with
record-breaking hyperinflation between
2007 to 2009 when month on month in-
flation reached 79.6 billion percent per
month in November 2008, with annual
inflation reaching an astounding 89.7 sex-
tillion in December 2008. The inflation run Presentation & Plenary Session
only stopped after the country adopted the
US Dollar in April 2009 to save the econo-
my from total collapse. Share your expertise on one of the
However, in November 2015 a local cur- following discussions
rency (bond botes) was introduced in the
market. The bond notes seemed to main-
tain value on paper for 3 years despite Ÿ Financing Ÿ Battery Storage,
massive foreign currency withdrawals Ÿ HydroPower, Ÿ Energy Efciency
and externalization that was happening in Ÿ Wind, Ÿ Technologies in
the economy. After the formal re-intro- Ÿ Solar, R e n e w a b l e
Ÿ Hydrogen, Energy
duction of the Zimbabwean dollar as the Ÿ Biogas, Ÿ Marketing Energy
RTGS currency in February 2019, inflation Ÿ Emobility, Transmission as a
increased from 57% in January 2019 to a Ÿ Geothermal way of increasing
record 838% in July 2020. The increase can Ÿ Net Metering trade
only be attributed to a cocktail of reasons Ÿ
where the central bank is at the core of
that instability. These should be curated to
Inflation has been persistently high in comprehensively cover the sustainability
Zimbabwe despite the country’s Gross agenda. Presentations should be 15-20
Domestic Product (GDP) being among the minutes long.
top 20 in Africa. Smaller economies in Af-
rica such as Eritrea, Gambia, Cape Verde,
Seychelles, Guinea-Bissau, and Comoros Green Innovation Stage
have consistently performed better than
Zimbabwe.
This begs the question on how cen- Join us on the Green Innovation Stage and
tral banks from very smaller economies showcase your innovative green product,
can manage to keep inflation very low
when Zimbabwe is consistently failing?
0773277599 / 0773417271 / 0772327981 / +263242773930-8
service or initiative that is helping us
Similarly, what are those countries doing January 31, 2023 events@alphamedia.co.zw www.renewable.amh.co.zw achieve a net zero future.
right that Zimbabwe is failing to copy and
paste? More importantly, why does Zim-
babwe persistently rank so high on infla-
tion in the world?
Money printing
The major cause of inflation in Zimbabwe
is pure money printing to finance quasi
fiscal activities, bail out state entities and
fund government programs. This entails
6 ZIMBABWE INDEPENDENT BUSINESS DIGEST JANUARY 20 TO 26, 2023
ZIMBABWE INDEPENDENT BUSINESS DIGEST JANUARY 20 TO 26, 2023 7
new horizon
With general elections coming up and ually deteriorated along with the Zimba- policy has been the issue of sanctions. Tar-
Makomborero the voting public looking more critically bwean economy. Things came to a head geted sanctions have been a thorn in the
Muzenda at what each party has to offer, it’s worth
looking at the government’s foreign poli-
during the land reform programme in the
early 2000s.
side of successive governments since they
were introduced. Mnangagwa’s speeches
analyst cy and what’s come out of their efforts of In a paper for the Afro-Asian Journal of at the United Nations have balanced his
engagement and re-engagement. Social Sciences, Jefferson Ndimande and message of “open for business” with calls
Before delving into current approaches Knowledge Grey Moyo explain, foreign for the lifting of sanctions. However, the
and programmes, a quick history of Zim- relations with the West after the land pro- efforts to lift targeted sanctions have not
It’s time for Davos again. By the time this babwe’s foreign policy is in order. With gramme sharply deteriorated. The US, UK been successful.
is published, Davos would likely have Independence in 1980, Zimbabwe estab- and the European Union introduced tar- The anti-sanctions campaign has sup-
come and gone. The annual World Eco- lished a Ministry of Foreign Affairs with geted sanctions against Zimbabwean in- port from the AU (with AU Commission
nomic Forum (WEF) meeting convenes Simon Muzenda as its first minister. The dividuals and companies. Zimbabwe was Chair Faki Mahamet issuing a statement
under the theme of “Cooperation in a first foreign policy outlook was similar in suspended from the Commonwealth, and in 2022 calling for the end of sanctions)
Fragmented World”. strong ways to the current version: estab- formally withdrew from the organisation and Cyril Ramaphosa used his state visit
Heads of state, business leaders and lish and maintain friendly relations with in 2003. to the United Kingdom to advocate for the
academics, journalists, activists and even other countries; be a strong advocate of The Second Republic of Zimbabwe has lifting of sanctions and Zimbabwe’s read-
a celebrity or two will mix and mingle to Pan-Africanism within organisations chosen a different approach. Although mission into the Commonwealth. Despite
figure out how best to map the road ahead such as the then Organisation of Afri- many positions and relationships have all this, the US, the UK and the EU have
for a world grappling with political, envi- can Unity (OAU); and most importantly, stayed the same, there was also a signifi- maintained their lists of sanctioned citi-
ronmental and economic issues. translate good relations into opportunities cant shift. zens and companies.
Davos (and the WEF by extension) has for development, trade and prestige. A name change for the ministry also in- In 2022 the US Department of State
been praised as a necessary space for A key difference is that post-Independ- dicates the biggest change in the current did remove 12 people from its Specially
critical conversations, establishing global ence foreign policy focused more on po- government’s foreign policy approach. Designated Nationals List. However, the
connections and striking deals. It’s also litical aspects. In 2017 it was renamed the Ministry of department added four people to the list
been criticised as an elitist space that ad- After all, political lobbying and nego- Foreign Affairs and International Trade, and two companies, Fossil Agro and Fos-
vances the agenda of the privileged few. tiations from neighbouring African coun- shifting from political to an economic fo- sil Contracting. While the list may shrink
Nevertheless, the meeting is a must on the tries, the OAU and the international com- cus. Re-engagement with the West - spe- and grow over time, the odds of it being
diplomatic calendar. munity were a benefit to the liberation cifically Britain and the US - was a top pri- removed completely in the immediate fu-
It’s a meeting that President Emmerson movement. ority. It’s why Zimbabwe had a delegation ture are slim.
Mnangagwa has attended before. His first This politics-focused approach was going to Davos in 2018 in the first place. The theme of “Cooperation in a Frag-
appearance was in 2018, fresh off his ap- somewhat successful. In an interview for the Financial Times in mented World” highlights a simple truth:
pointment as president and riding a wave Zimbabwe was a founding member state January 2018, Mnangagwa reiterated his no country can function in isolation from
of international press coverage. He at- of the Southern African Development new approach. As he put it: “Zimbabwe others.
tended Davos with a mission: to introduce Community in 1992. The government was wants to reintegrate with the international Maintaining good relations with foreign
his vision for Zimbabwe’s foreign policy a vocal critic of the apartheid government community; Zimbabwe will accept those countries has a range of economic, politi-
on the global stage. in South Africa, which resulted in two who accept her.” cal and even social benefits. It’s arguably a
It’s a vision that he had given glimpses bombing attacks in 1987 and 1988 tar- Is this new approach working? position the government understands and
of in his time as vice president. Wearing geting ANC members and anti-apartheid It’s been a mixed bag so far. has tried to follow over the past six years.
his now trademark flag-inspired scarf, activists in Harare and Bulawayo respec- The Commonwealth sent a Secretariat With elections this year, whichever party
Mnangagwa proclaimed that Zimbabwe tively. Mugabe’s administration also sup- mission in November 2022, indicating a ascends to power will have to craft its own
was “open for business.” ported independence for Namibia. step towards Zimbabwe rejoining the or- approach to how to navigate diplomatic
It’s a message he repeated at the 2022 The Zimbabwe National Army was part ganisation. The government granted land terrain.
edition of Davos, where he met with other of the Second Congo War in support of for the African Export-Import Bank to es-
leaders such as Paul Kagame and Lazarus Laurent Kabila and his government. How- tablish a Afreximbank Africa Trade Centre Muzenda is a writer and analyst. These weekly
Chakwera. Zimbabwe’s participation at ever, Zimbabwe’s relations with the West in Harare. New Horizon articles published in the Zimba-
the WEF meeting - as well as attending (in this case, the US, the UK, Canada and The Political Actors Dialogue was bwe Independent are coordinated by Lovemore
COP26 and COP27 - are part of a foreign Europe) have flipped from friendly, to launched in 2019 with the intention of Kadenge, an independent consultant, past pres-
policy aimed at reestablishing the country strained, to outright hostile. creating space for dialogue with political ident of the Zimbabwe Economics Society and
on the global stage. Catchphrases such as Zimbabwean governments had a dif- parties, with the aim of showing a com- past president of the Chartered Governance &
“open for business” and “friend to all and ficult time with Republican administra- mitment to political cooperation and Accountancy Institute in Zimbabwe (CGI Zim-
enemy to none” pop up in speeches, press tions in America. Although relations with transparency. babwe). — kadenge.zes@gmail.com or mobile:
releases and interviews. the UK started off well in 1980, they grad- At the heart of the government’s foreign +263 772 382 852.
ZIMBABWE INDEPENDENT BUSINESS DIGEST JANUARY 20 TO 26, 2023 B1
B2 ZIMBABWE INDEPENDENT BUSINESS DIGEST JANUARY 20 TO 26, 2023
ZIMBABWE INDEPENDENT BUSINESS DIGEST JANUARY 20 TO 26, 2023 B3
B4 ZIMBABWE INDEPENDENT BUSINESS DIGEST JANUARY 20 TO 26, 2023