Net closes in on currency manipulators

The Sunday Mail

Leroy Dzenga
Senior Reporter

Banks and businesses involved in acts of economic sabotage through manipulation of the local currency and unwarranted increase in the prices of goods and services could lose their licenses as the government moves to restore order.

Addressing a rally in Epworth yesterday to celebrate the by-election victory of ZANU PF lawmaker Cde Zalerah Makari, President Mnangagwa said the government had uncovered the culprits of monetary sabotage which saw the local currency lose weight the value on the parallel market.

“We have a challenge in our economy, especially around prices and exchange rates. We are building a solution, we are now getting closer to the companies that are behind what we have been witnessing lately,” President Mnangagwa said.

He says there is a third party pulling the strings behind the scenes, to the detriment of the local economy.

“These economic actors are not acting alone, they are sent by foreign countries hostile to Zimbabwe to weaken our local currency. So we are designing methods to deal with it, we will close some big companies and banks. These will be announced in due course,” President Mnangagwa said.

Over the past few weeks, the Zimbabwean dollar has lost significant value in the parallel currency market, while the prices of most goods and services have risen dramatically without justification.

This threatens to undo the economic gains made in recent years. The economy is expected to grow by 5.5% this year. The celebratory rally was symbolic, as the ZANU PF by-election campaign was launched in Epworth.

During the election campaign, President Mnangagwa promised residents of the bedroom community that they would get title deeds to regularize their homes and yesterday he said the deal was still in place despite a technical delay.

“We promised you title deeds, I remember telling you the last time we had completed the geospatial mapping which allows us to see the state of the settlement and we were ready to give title deeds. However, our security told us that some scammers print their own title deeds. We had to go back to the drawing board and find a way around this, we are now introducing biometric title deeds with security features. »

The documents would be of the same caliber as the recently introduced electronic passports.

“These are title deeds that cannot be fraudulently printed by individuals. These title deeds have the same security features as electronic passports. We have purchased equipment in Germany, which allows us to print secure documents with impenetrable security features. »

At least 50,000 beneficiaries would receive title deeds under the first phase.

“So far we have ordered 50,000 copies to be printed, some of which will be brought here,” President Mnangagwa said as he assured the people of Epworth that their problems would be solved.

“Yesterday your MP (Makari) told me there was a fight for water in Epworth. I have four presidential rigs, three in Harare and one in Binga. So yesterday around 6 p.m. I called the team running the project and told them about this event, told them they had to spend the night drilling a borehole, I am proud to say this morning that they had completed the drilling of the borehole and installation of the whole system,” President Mnangagwa said.

“It will take time to resolve the water issues, as there are structural issues that need to be addressed. But in the meantime, we will drill two boreholes in each of Epworth’s seven wards,” President Mnangagwa added.

The President also opened the Mabvazuva Satellite Clinic in Ward 7 Epworth, to relieve pressure on the Epworth Clinic, which is to be upgraded to a district hospital.

“When I opened the clinic, I was with my deputy, who happens to be the Minister of Health and Childcare. He said he would equip the clinic with beds and he also said he would recruit nurses to work in the facility,” President Mnangagwa said.

In her remarks, Cde Makari thanked the people of Epworth for voting for her in the election.

She hosted a two-day party for her constituency, with the rally being the kick-off event.

Cde Makari had bought seven cattle to slaughter during the festivities, but ZANU PF added 10 cattle.

“We had a two-month campaign, against someone who had been in office for three years. We told Epworth that their problems needed ZANU PF and the Presidium, not these impromptu parties. This is just a taste of what is to come in 2023, we expect that after the census we will have around 200,000 people in Epworth and you can count it all as your votes, Chairman,” a- she declared.

She said her constituency still had a long list of needs that included schools, boreholes, a public morgue. She also called for Epworth to be granted town status.

Cde Makari won the March 26 by-election, regaining the seat the ruling party lost to the opposition in 2018.

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