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The Finance Minister in an interview on 20 January said the country is doing OK and the government will continue to acquire Professional Protective Equipment (PPE) for the COVID-19 frontline workers, Bloomberg reports.
Ncube was addressing the issue of the government’s efforts towards fighting COVID-19 when he said:
<blockquote>Like every health system around the world Covid has put a lot of strain. We continue to acquire more PPE, we never say we have sufficient, we are doing OK. Prevention is the best medicine.</blockquote>
Meanwhile, some workers at one of Harare’s biggest hospitals Sally Mugabe Hospital, are not reporting for duty because they are afraid to expose themselves to the virus because of lack of PPE. According to the publication:
<blockquote>Nurses at Sally Mugabe Hospital, named after former President Robert Mugabe’s first wife, in the capital Harare say they get only one face mask per 12-hour shift and have to wear protective aprons normally used in bakeries.
Since the Jan. 7 death of senior nurse Miriam Pundu, they’ve refused to return to work until they are given adequate personal protective equipment.</blockquote>
The government has not announced a clear cut plan for the rolling out of the COVID-19 vaccine that is being rolled out in some countries.
More: <a href="https://www.bloomberg.com/news/articles/2021-01-24/in-zimbabwe-coronavirus-sick-told-to-buy-their-own-ventilators">Bloomberg</a>

Pindula News

We Are Doing OK - Mthuli Ncube Declares As Nurses  "Wear Bakery Aprons" In Hospitals

Tensions between the president and his deputy reportedly took a nasty turn during a politburo meeting last week as President Mnangagwa accused Vice President Chiwenga of trying to topple him from power using the 31 July protests, sources privy to the development told Bloomberg.
According to the publication, the president shouted at his deputy and said he wanted to embarrass him, but Chiwenga reportedly denied the allegations, according to the 2 people who spoke to the publication.
According to Bloomberg:
<blockquote>At a meeting of the ruling Zimbabwe African National Union-Patriotic Front’s politburo last week, Mnangagwa shouted at Vice President Constantino Chiwenga, according to two people familiar with the situation. They asked not to be identified because the quarrel hasn’t been publicly disclosed.
The president accused his deputy of instigating a plan to use an opposition protest on July 31 over the deteriorating economic situation to embarrass the national leader, the people said. Some party members would have been encouraged to demonstrate alongside the opposition, but focus their criticism on Mnangagwa to weaken his standing within the ruling party, the people said.
Chiwenga denied any plot against the president, saying he’d endorsed Mnangagwa as president for Zimbabwe’s 2023 elections, the people said. He said he had protected Mnangagwa against enemies within the party who have now fled the country.</blockquote>
It is still not clear how the protests were going to be used to topple the president, however the government responded to the planned protests by threatening civilians, arresting, beating and torturing the organisers, would be protestors, and protestors and people responded by staying at home and not going out to protests.
More: <a href="https://www.bloomberg.com/news/articles/2020-08-06/zimbabwean-president-deputy-clash-as-economy-tension-grows">Bloomberg</a>

ED Accused Chiwenga Of Trying To Topple Him Using 31 July Protests In A Heated Exchange - Report

Antony Sguazzin, Ray Ndlovu &amp; Brian Latham writing for Bloomberg have said there is a likelihood of social unrest in Zimbabwe as the economy takes a turn for the worst, which has also been exacerbated by the government’s chaotic leadership. The writers opined:
<blockquote>Zimbabweans celebrated in their tens of thousands when the military ousted Robert Mugabe and installed Emmerson Mnangagwa as president. Two-and-a-half years later, the party is over.
Mnangagwa, 77, came to power promising political reform and a wave of foreign investment, but there’s been little of either. Instead, outside funds are being withheld and painful economic measures have been imposed, with the army deployed to violently quell protests.
Such is the public disquiet that many ruling party leaders, including some with military links, are losing patience with Mnangagwa, four people familiar with the situation said, asking not to be identified due to the sensitivity of the situation. Military leaders took the unprecedented step of calling a press conference this month to say they weren’t planning a coup.
“It could be a preemptive move, it could be the generals saying we are in charge,” said Ringisai Chikohomero, an analyst at the Pretoria-based Institute for Security Studies. The military, he said, are “the guarantors of the regime: They have a clear stake and key interests.”
Mnangagwa’s ascent to the presidency in November 2017 was a remarkable turnaround. Known as the Crocodile for his role in a civil-war era guerrilla group of the same name, he was fired by Mugabe even though he had served in the liberation hero’s cabinet since Zimbabwe won independence from the British in 1980.
The Crocodile
Where once he had been seen as Mugabe’s likely successor, his mistake was to fall out with the nonagenarian’s wife, Grace. She was becoming increasingly powerful and threatening to usurp the military leaders and veteran politicians who had supported Mugabe during his nearly four decades of rule.
For the army, Mnangagwa represented continuity. Among them, “there was the thinking that the Mnangagwa regime would bring about some stability while Mugabe was seen as basically running a Ponzi scheme,” Chikohomero said. “The opportunities for patronage did not materialize.”
Now, inflation has surged to 786%, foreign currency and fuel are short and while the government has announced about $30 billion of investment in ventures from platinum mines to abattoirs there is little tangible to show for it. A teacher earning the equivalent of $400 a month two years ago now earns a 10th of that due to a series of effective devaluations of the local currency.
International donors refuse to release funds unless steps are taken to rein in security forces used to quash dissent and to scrap laws that stifle the opposition.
Mnangagwa is aware he has to make concessions on political reform and needs to curb the military to win economic support from the international community, one of the people said. Still, he fears doing so as those would anger the party leaders with whom his relations are increasingly strained and could cost him power, the person said.
‘Relentless Attack’
Government spokesman, Nick Mangwana, and presidential spokesman, George Charamba, didn’t respond to repeated requests for comment.
Seemingly stuck, the president and his political allies have taken to blaming everyone from exiles linked to Grace Mugabe to evangelist preachers for the country’s plight.
There is “a relentless attack on our currency and the economy in general through exorbitant pricing models by the private sector,” Mnangagwa said June 10 at a meeting of the ruling party’s politburo. “We are fully cognizant that this is a battle being fueled by our political detractors, elite opportunists and malcontents who are bent on pushing a nefarious agenda which they will never win.”
Zimbabwe under Mugabe was originally one of the beacons of independence from colonial rule in Africa. In 1980, as the victorious leader of an army of freedom fighters, he calmed the white minority of what had been Rhodesia and won global acclaim with his independence speech pledging reconciliation. Over the next decade he invested in what became one of Africa’s most educated workforces and led opposition to apartheid in South Africa, becoming an African icon.
An International Monetary Fund program in the 1990s eroded Mugabe’s popularity, putting the country on a downhill path of repression, corruption and economic collapse. A wave of violent seizures of white-owned commercial farms decimated agricultural exports, manufacturing collapsed and inflation in 2008 surged to 500 billion percent, leading to the abolition of the national currency. Diamonds worth billions of U.S. dollars were smuggled out of the country.
Open for Business
Mnangagwa was meant to end all that by restoring relations with international finance institutions, ending international isolation and restarting the economy. He traveled the globe wearing his trademark scarf with the colors of the Zimbabwean flag saying the country was open for business, in a bid to attract investment to some of the world’s biggest platinum and chrome deposits and an agricultural sector that rivals Virginia for the quality of its tobacco and has a climate suitable from crops ranging from roses to cotton.
“The Mnangagwa regime likes to point to enemies, but it only has itself to blame,” Alex Magaisa, a Zimbabwean law lecturer who helped design the southern African nation’s 2013 constitution, said in his blog. “It had so much goodwill when it started, but it spurned all the opportunities. Now it is living in fear of a coup, real or perceived.”
Mnangagwa’s first significant misstep was in August 2018 when his election victory was marred by allegations of irregularities and at least six people were shot dead by soldiers as they protested. That largely put negotiations to resolve the country’s debt issues on hold and halted significant investment interest.
The violence was followed by the deployment of the military to quell protests over the economic situation in January 2019, when at least 18 people were killed, and there have been occasional flareups since. The coronavirus outbreak and an associated lockdown has seen a significant increase in the presence of Zimbabwe’s military on the streets of the country’s biggest cities, keeping a lid on unrest.
Misery Compounded
An April 2 letter to institutions including the IMF by Finance Minister Mthuli Ncube pleading for assistance has yielded just $21 million from the World Bank and African Development Bank. Zimbabwe has not kept up with payments on its $8 billion in foreign debt. Meanwhile, the worst drought in 40 years and a rare cyclone in the east of the country have compounded the misery.
Even as the situation worsens, change may not be imminent.
Coups are rare in southern Africa. In 1997, South African and Batswana troops invaded Lesotho with the backing of the Southern African Development Community after the military took power there. In Zimbabwe’s case, neighbors largely turned a blind eye to the military takeover in 2017 given the dire state of the economy, which had seen millions of Zimbabweans flee across the borders.
Mnangagwa’s dilemma is that political reforms are needed to win aid, but they would threaten his position and that of the military by allowing the opposition to compete in elections on an even footing. The Zimbabwe African National Union-Patriotic Front has ruled since independence and every election since 2000 has been marred by allegations of rigging and violence.
He needs to implement “quite dramatic reforms that signal a clean break with the Mugabe era,” said Derek Matyszak, an independent governance consultant in Harare, the capital, adding: “I don’t see any solution to the problem”</blockquote>
Source: <a href="https://www.bloomberg.com/news/articles/2020-06-26/as-zimbabwe-s-economy-crumbles-mugabe-s-successor-courts-unrest">Bloomberg</a>

OPINION: As Zimbabwe’s Economy Crumbles, Mugabe’s Successor Courts Unrest

Quick Takes By Bloomberg has said Zimbabwe is a few steps away from a full-blown famine. The situation has been exacerbated by skyrocketing inflation and a prolonged drought. Watch the Quick Takes video below:
<blockquote class="twitter-tweet">
🇿🇼 Amid its worst economic crisis in decades, Zimbabwe is two steps away from a full-blown famine <a href="https://t.co/LGMgx62qb0">pic.twitter.com/LGMgx62qb0</a>
— QuickTake by Bloomberg (@QuickTake) <a href="https://twitter.com/QuickTake/status/1221840707251556352?ref_src=twsrc%5Etfw">January 27, 2020</a></blockquote>
<script async="" charset="utf-8" src="https://platform.twitter.com/widgets.js"></script>

WATCH: Zimbabwe Is 2 Steps Away From A Full Blown Famine

President Emmerson Mnangagwa said that the Zimbabwe Defence Forces has disposed of its stake in a $4 billion platinum joint venture with Russian investors.
According to The Standard, the military, through the Zimbabwe Defence Industries, and Zimbabwe Mining Development Corporation (ZMDC) together hold 30% of the joint venture, known as Great Dyke Investments, through a company they control, Pen East (Pty) Ltd.
Reports over the past few months had indicated that the military’s involvement in the US$4 billion platinum project was the main reason why the deal commissioned in 2014 had stalled.
Speaking during an interview with Bloomberg in Mozambique during the just-ended US-Africa Business Summit, President Mnangagwa said:
<blockquote>They have moved out, we have removed the Zimbabwe Defence Forces. It is now owned by a private company.
We moved the army out, which had initially been part of the shareholding.
So it is now 50/50, the other 50% is owned by the Russians and the other 50% by a local Zimbabwean company, which bought out the army.</blockquote>
<h4>More: <a href="https://www.thestandard.co.zw/2019/06/23/army-offloads-stake-4bn-project/" rel="noopener noreferrer" target="_blank">The Standard</a></h4>

Army Disposes Of Stake In Platinum Joint Venture

Zimbabwe has been “sleeping” on troves of deposits of rare-earth elements (REE), President Emmerson Mnangagwa has revealed.
Speaking in an interview with Bloomberg on the sidelines of the 12th US-Africa Business Summit, which ended on Friday in Maputo, Mozambique, Mnangagwa said:
<blockquote>Recently, I have been happily surprised. I was talking to some of the American businesspeople who are at this conference (12th US-Africa Business Summit) who were saying, look, besides China, I think Zimbabwe is second in having what they call rare-earth minerals, and they say these are very valuable, but we have been sleeping on them; we didn’t know that they were useful.
Anyway, this is an early discovery as far as we are concerned at Government level and policy level, but I am informed that this is a very lucrative discovery and we should begin to look at how we can exploit (them) because; one, we don’t have the technology; two, we don’t have the skills; three, we don’t even know what we have, except what we were told by other people that we have, so it is quite pleasant that we have that . . .</blockquote>
REEs, according to reports, are used in a wide range of industries.
Some are used in many devices that people use every day such as computer memory, DVDs, rechargeable batteries, cell phones, catalytic converters, magnets, and fluorescent lighting, among others.
They are also used in defence industries, for instance, in well-advanced countries such as the United States of America where they are used to manufacture night-vision goggles, precision-guided weapons, communications equipment, GPS equipment, batteries, and other defence electronics.
<h4>More: <a href="https://www.sundaymail.co.zw/zim-discovers-rare-minerals" rel="noopener noreferrer" target="_blank">The Sunday Mail</a></h4>

Zimbabwe Finds Rare Mineral Deposits (REEs) - ED

President Emmerson Mnangagwa, who is a lawyer by training, said that Zimbabwe has to have its own currency. He said that Zimbabwe is the only country on the face of the planet that does not have a currency of its own.
The new currency will be introduced within the next nine month and the government is already working on the modalities, President Mnangagwa revealed
Mnangagwa said this during an interview with Bloomberg on the sidelines of the 12th US-Africa Business Summit in Maputo, Mozambique, on Thursday. He said:
<blockquote>Then, of course, there is an issue which is critical also for any economy: this is the question of currency.
I am not aware of any country which has no currency of its own, but that is not my field – I am a lawyer – but I am told that except for Zimbabwe I haven’t been told of another country which doesn’t have its own currency.
Even poor countries have currencies from what I hear, so we intend to introduce our own.</blockquote>
Speaking in a separate interview, Finance and Economic Development Minister Mthuli Ncube corroborated his principal’s remarks. He said:
<blockquote>But I think the long-term goal, as His Excellency has said, you cannot develop without your own domestic currency, without the monetary-sector leg in terms of macro management – that is very, very critical. . .
Ncube claimed that the government has already dealt with the issuance of Treasury Bills and fiscal deficits which cause growth in money supply and, and as a result, pose risk to currency value.</blockquote>
<h4>More: <a href="https://www.herald.co.zw/just-in-zim-to-introduce-new-currency-within-9-months/" rel="noopener noreferrer" target="_blank">The Herald</a></h4>

Zimbabwe To Introduce New Currency In 9 Months - President Mnangagwa

Reserve Bank of Zimbabwe (RBZ) governor John Mangudya has said that it may take as many as five years before the government is able to institute currency reforms and reintroduce the Zimbabwe dollar. According to Mangudya, the time is necessary in order for the country to address poor economic fundamentals. Mangudya said that before the country could reintroduce its own currency it needed to address fiscal imbalances, regains access to loans from international institutions and boost investor confidence in order to attract foreign direct investment (FDI). In an interview with Bloomberg Television in New York on Friday, Mangudaya said,
<blockquote>When those things are done, then you can have your local dollar. Within the next three to five years we will be able to achieve what we want to achieve on the currency reforms…Currency reform is a process. The economic fundamentals are not good and ready for us to have our own currency.  There is a danger of re-introducing a currency before the fundamentals are met.</blockquote>
<a href="https://news.pindula.co.zw/2018/08/30/over-time-we-have-to-bring-back-the-zim-dollar-mthuli-ncube-offers-5-ways-to-kickstart-zimbabwes-economic-recovery/" rel="noopener" target="_blank">Minister of Finance and Economic Development Mthuli Ncube has said that he favours the return of the Zimbabwe dollar. </a>You can watch the interview on the link below,
<h3><a href="https://news.pindula.co.zw/2018/09/22/video-john-mangudya-interview-with-bloomberg-says-he-sees-a-positive-investment-environment/" rel="noopener" target="_blank">Video: John Mangudya Interview With Bloomberg Says He Sees A Positive Investment Environment</a></h3>
 
More: <a href="https://www.bloomberg.com/news/articles/2018-09-21/zimbabwe-currency-reforms-may-take-five-years-central-bank-says?cmpid=socialflow-twitter-business&amp;utm_medium=social&amp;utm_source=twitter&amp;utm_content=business&amp;utm_campaign=socialflow-organic" rel="noopener" target="_blank">Bloomberg</a>

Currency Reforms May Take Up To Five Years: Mangudya Tells Bloomberg

Reserve Bank of Zimbabwe (RBZ) governor John Mangudya has said that Zimbabwe is looking at the whole global economy, particularly Western countries to Invest in Zimbabwe. Mangudya emphasized that Zimbabwe was not concentrating on China only.
Speaking on Bloomberg Television, when asked to name the countries Zimbabwe expected to get the most inbound investment from, Mangudya replied with,
<blockquote>We expect the whole global economy to invest…Not only China. Yes, China has been involved in a number of projects that are there, we are also talking about Western countries, UK, Germany, France, they have a number of companies there. We know about the Totals of this world.</blockquote>
Speaking on repatriation of funds by foreign affairs, Mangudya said
<blockquote>Right now you all know that Zimbabwe is going through foreign currency shortages… and therefore if we open up the economy we are saying that we need more comers coming into this country. And others will come in and others were going out and therefore that’s why we are saying that Zimbabwe is open for business. The economy is open, so at the end of the day.. companies can take money outs</blockquote>

We Want The Whole World To Invest In Zimbabwe, Not Just China: Mangudya

In his first international broadcast interview since coming into power, President Emmerson Mnangagwa, tells Bloomberg how he wants to revive the country’s economy as well as revive democracy.  Mnangagwa talks of land distribution as well as the local currency.
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More: <a href="https://www.bloomberg.com/news/articles/2018-01-18/zimbabwe-s-mnangagwa-plans-billions-in-compensation-bond-sale?utm_content=africa&amp;utm_campaign=socialflow-organic&amp;utm_source=twitter&amp;utm_medium=social&amp;cmpid%3D=socialflow-twitter-africa">Bloomberg</a>

Video: President Mnangagwa Speaks On Restoring Economy And Democracy

Swiss investor and business-television commentator Marc Faber has been forced to step down from he boards of money manager Sprott Inc. and mining companies Novagold Resources Inc<a href="https://www.bloomberg.com/quote/NG:US" itemprop="StoryLink" itemscope="itemscope" title="Company Overview">.</a> and Ivanhoe Mines Ltd. Swiss following his racist comments in a  15-page edition of his investor letter, “The Gloom, Boom &amp; Doom Report.”  Television networks CNBC and Fox Business Network said they will no longer book Faber on their shows.
In the October edition, Faber wrote:
<blockquote>And thank God white people populated America, and not the blacks. Otherwise, the US would look like Zimbabwe, which it might look like one day anyway, but at least America enjoyed 200 years in the economic and political sun under a white majority.</blockquote>
He later added
<blockquote>If you have to live in a society where you cannot express your views and your views are immediately condemned without further analysis and analysis of the context in which [they’re written] — if you can’t live with that, then it is a sad state of where freedom of the press and freedom of expression have come
If stating some historical facts makes me a racist, then I suppose that I am a racist. For years, Japanese were condemned because they denied the Nanking massacre</blockquote>
 
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More: <a href="https://www.bloomberg.com/news/articles/2017-10-17/marc-faber-thanks-god-that-the-blacks-didn-t-populate-america">Bloomberg</a>

Wall Street analyst says if black people had populated America, "the US would look like Zimbabwe"