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A fire broke out late Friday night at the residence of Deputy Minister of Finance, Economic Development and Investment Promotion, Kudakwashe David Mnangagwa, shortly before midnight, according to the Zimbabwe Republic Police (ZRP).
In a statement released on Saturday, ZRP spokesperson Commissioner Paul Nyathi confirmed the incident but did not provide any further details on the circumstances surrounding the fire. He said:
<blockquote>
The Zimbabwe Republic Police confirms that investigations are currently underway in connection with a fire incident which occurred at the house of the Deputy Minister of Finance, Economic Development and Investment Promotion, Honourable Kudakwashe David Mnangagwa on 28 June 2024 at 11.30 PM.
</blockquote>
The fire incident at the Deputy Minister’s residence comes on the heels of previous mysterious occurrences at his Borrowdale home, with the police still investigating and searching for clues on the potential perpetrators.
According to <a href="https://www.zimlive.com/fire-breaks-out-at-minister-mnangagwas-borrowdale-home/">ZimLive</a>, on June 23, around 10 PM, while Mnangagwa was watching television with his wife, they heard unusual noises coming from the ceiling of their home.
He called two police officers guarding his home who surveyed the house and the perimeter but saw nothing suspicious.
At about 11.50 PM that same night, Mnangagwa called the officers a second time and asked them to check the roof.
It is alleged that on the roof, officers found a bag loaded with some of the deputy minister’s possessions including torn documents, two Apple MacBook laptops and a MacBook iPad which appeared to have been deliberately damaged.
Mnangagwa reportedly informed the officers that his 9mm Beretta pistol with 15 live cartridges was missing, together with US$500 cash which was in the bag.
The intruder allegedly entered the kitchen, retrieved a loaf of bread from the kitchen unit and dumped it on the floor near the door.
The intruder then went to the garage and cut the driver’s headrest of Mnangagwa’s parked Land Rover Defender.
ZimLive reported that on June 24, police officers, including a canine unit, combed the property but there was no trace of the suspect and no evidence of any forced entry.
In the second incident, on June 25, an intruder whom police are dubbing the “ghost raider” left six cartridges – three outside Mnangagwa’s main bedroom door and three on the lawn outside his house.
Just after 7.30 AM on June 26, Mnangagwa’s eight-year-old son went to his parents’ bedroom and as he was about to knock on the door he saw a live cartridge lying on the floor and police were called.
Police located three cartridges within two meters of the door, and a further three on the lawn outside the property.
The repeated, undetected intrusions into the heavily guarded home of the Deputy Minister, even in the presence of potential CCTV surveillance, are perplexing.
More: <a href="https://www.pindula.co.zw/">Pindula News</a>

Pindula News

Fire Breaks Out At Deputy Minister Mnangagwa's Residence, Police Say

The Zimbabwe Republic Police (ZRP) has launched an investigation into alleged criminal acts at the residence of Deputy Minister of Finance, Economic Development and Investment Promotion, David Kudakwashe Mnangagwa.
David Mnangagwa is the son of President Emmerson Mnangagwa.
In a statement issued this Friday, June 28th, ZRP spokesperson, Commissioner Paul Nyathi, said that further details will be made available as the investigations into the matter progress. He said:
<blockquote>
The Zimbabwe Republic Police confirms that investigations are being conducted in connection with a report of criminal acts at the residence of the Deputy Minister of Finance, Economic Development and Investment Promotion, Honourable David Kudakwashe Mnangagwa’s residence in Harare on 23rd June 2024.
</blockquote>
<a href="https://www.zimlive.com/bullets-left-at-the-bedroom-door-of-deputy-finance-minister-david-mnangagwa/">ZimLive</a> reported that Mnangagwa’s Borrowdale residence experienced two security breaches: the first occurred on June 23, and the second on June 25.
The first breach reportedly took place on June 23 at around 10 PM when Mnangagwa, who was watching TV with his wife, called two police officers guarding his double-storey property on Camel Road after hearing unusual noises coming from the ceiling.
The officers surveyed the house and the perimeter but saw nothing suspicious.
At about 11:50 PM, Mnangagwa called the officers a second time and asked them to check the roof where they found a bag loaded with some of the deputy minister’s possessions.
These included torn documents, two Apple MacBook laptops and a MacBook iPad which appeared to have been deliberately damaged.
ZimLive reported sources as saying Mnangagwa said all the items had been taken from his bedroom.
Mnangagwa also informed the police officers that his gun, a 9mm Beretta pistol with 15 live cartridges was missing, together with US$500 cash which was in the bag.
The intruder is said to have entered the kitchen, retrieved a loaf of bread from the kitchen unit and dumped it on the floor near the door.
The intruder went to the garage and cut the driver’s headrest of Mnangagwa’s parked Land Rover Defender.
On June 24, police officers, including a canine unit, combed the property but there was no trace of the suspect and no evidence of any forced entry.
In the second incident, on June 25, an intruder whom police are dubbing the “ghost raider” left six cartridges – three outside Mnangagwa’s main bedroom door and three on the lawn outside his house.
Just after 7.30 AM on June 26, Mnangagwa’s eight-year-old son went to his parents’ bedroom and as he was about to knock on the door he saw a live cartridge lying on the floor and police were called.
Police located three cartridges within two meters of the door, and a further three on the lawn outside the property.
More: <a href="https://www.pindula.co.zw/">Pindula News</a>

Police Probe Alleged Criminal Activity At David Mnangagwa's Residence

Finance Deputy Minister Kudakwashe David Mnangagwa has announced that the Treasury is working on a “permanent solution” to address price and exchange rate distortions in Zimbabwe. This comes after President Emmerson Mnangagwa revealed that the central bank and Finance Ministry would soon implement <a href="https://www.pindula.co.zw/2024/02/06/president-mnangagwa-says-currency-reforms-coming-to-restore-economic-stability/">policies to tackle inflation and the depreciation of the local currency.</a>
Despite previous measures introduced by authorities, the Zimbabwean dollar remains volatile. In response to a question from Member of Parliament Clemence Chiduwa about the stability of the Zimbabwean dollar and rising prices, Mnangagwa stated that a monetary policy statement would be issued soon. He acknowledged the increase in exchange rates and inflation figures and mentioned that actions were being taken to find a permanent solution. <a href="https://www.newzimbabwe.com/government-crafting-permanent-solution-to-exchange-rate-price-distortions-says-mnangagwa/">NewZimbabwe</a> quotes him as saying:
<blockquote>
I would not want to pre-empty a monetary policy statement as well as fiscal policy announcements that will be coming, but would acknowledge that the increase in the exchange rates and inflation figures are something that we are fully aware of.
There are actions that are being taken as far as crafting something that can be a permanent solution.  So, I would like to leave it at this juncture without putting the cart before the horse Hon. Speaker.
</blockquote>
Mnangagwa also warned retailers who only accepted the United States Dollar (USD) and rejected the local currency, stating that they would face legal consequences. In some areas, the Zimbabwean dollar has been substituted by the US dollar or the South African rand due to surging inflation.
Members of Parliament also expressed concerns about the availability of point-of-sale machines in most shops. Mnangagwa explained that such issues were related to the underlying problems of inflation and exchange rate disparities. However, he assured the members that a combination of measures would be implemented to address these issues.
<h3><a href="https://www.pindula.co.zw/">More Pindula News</a></h3>

Zimbabwe Treasury Pursues "Permanent Solution" To Address Currency And Price Distortions - Mnangagwa

The Zimbabwean government has stated that it will announce a clear and transparent plan to move away from using the United States (US) dollar in order to prevent any negative impacts on the economy and to avoid further hardships for its citizens.
Originally, the country was planning to end the use of the US dollar and other foreign currencies in 2025, as they currently coexist with the local currency. However, President Emmerson Mnangagwa has extended the deadline to 2030.
In 2019, the government reintroduced the local currency after a ten-year period of using the US dollar. However, the local currency has struggled to maintain its value. As a result, some businesses have started pricing their goods and services exclusively in US dollars to protect themselves from potential losses. Additionally, banks have stopped lending in US dollars to prevent financial losses.
Deputy Finance Minister Kudakwashe David Mnangagwa informed lawmakers that the government is engaging in extensive consultations with stakeholders and will keep the markets informed about the de-dollarisation strategy. He said:
<blockquote>
As government and as Treasury, we are committed to coming up with a roadmap. The road to de-dollarisation will not be an event, but rather a process.
You find that there are measures that the country is putting in place. This is part of the de-dollarisation programme.
After thorough consultations with all stakeholders, the market will come up with a published roadmap that will be available to all, but to answer in a nutshell, there is no definitive date, it is going to be a process.
</blockquote>
Mnangagwa, who is the son of the President of Zimbabwe, stated that the transition to a single currency will happen gradually and will not be sudden or abrupt. He mentioned that there has been some stability in the currency exchange rate and prices, thanks to the policies in place by the Treasury. These policies aim to sustain stability and prevent sudden increases in the exchange rate that can lead to inflation.
However, Mnangagwa acknowledged that the local currency, the Zimbabwe (Zim) dollar, is vulnerable to attacks from economic predators. He mentioned that during the bonus season, there may be individuals who try to take advantage of civil servants’ salaries.
Zimbabwe switched to using the US dollar in 2009 after the collapse of the local currency during a period of hyperinflation. Attempts to return to using the Zim dollar exclusively have caused market concerns and affected exchange rate stability.
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Deputy Finance Minister Mnangagwa Says Govt Will Announce Clear Plan On De-dollarisation

Deputy Minister of Finance and Investment Promotion, <a href="https://www.pindula.co.zw/Kudakwashe_Mnangagwa/">Kudakwashe David Mnangagwa</a>, warned businesses against <a href="https://www.pindula.co.zw/2023/010/03/informal-traders-kombis-reject-zwl50-banknotes/">rejecting the ZWL$50 note</a>, stating that they could face significant penalties.
He urged Members of Parliament to report such incidents for investigation and potential sanctions. Mnangagwa emphasised that Zimbabwe currently operates with a local currency alongside a multi-currency system, which will end in 2025. Therefore, businesses should not reject the local currency. He also informed the public that the government is actively addressing the issue and introduced <a href="https://www.pindula.co.zw/2023/010/05/rbz-launches-zig-as-a-means-of-payment/">ZiG (digital currency)</a> as an alternative and store of value for those facing difficulties with bond notes. <a href="https://www.newsday.co.zw/local-news/article/200017920/treasury-warns-against-zwl50-note-snub">NewsDay</a> cites him as saying:
<blockquote>
On the issue of those rejecting our money, as lawmakers and representatives of the people, we should report to the Financial Intelligence Unit or the ministry so that we Investigate  and ask why they are not accepting our currency, and sanction them.
At the moment we use the local currency and the multi-currency regime and it will end in 2025 … business people should not reject local currency.
I want to assure the august House and Zimbabweans that we are looking at this matter. We now have ZiG (digital currency) which is a store of value and an alternative for those who are unable to use bond notes, they can buy ZiG.
</blockquote>
Informal traders and commuter transport operators refuse to accept the ZWL$50 note amid the depreciation of the Zimbabwe dollar. When the Zimbabwe dollar was reintroduced in 2019 after a decade-long suspension, there were smaller denominations like ZWL$2, ZWL$5, ZWL$10, and ZWL$20 but they have all been phased out as the local currency continued to lose value against the United States dollar. Since the August 23 and 24, 2023 elections, the local currency has lost over 18% of its value, with the current exchange rate standing at US$1:$5 633,8332 on the interbank market. 
<h3><a href="https://www.pindula.co.zw/">More Pindula News</a></h3>

Finance Deputy Minister Mnangagwa Has Warned Businesses Against Rejecting The ZWL$50 Note

Finance and Investment Promotion Deputy Minister <a href="https://www.pindula.co.zw/Kudakwashe_Mnangagwa/">David Mnangagwa</a> has disclosed that banks are no longer offering long-term funding beyond 2025 when the multiple currencies regime is set to end.
Businesses in Zimbabwe are calling for legislation that guarantees the use of foreign currency, particularly the US dollar, beyond 2025. However, the government has not provided assurances, leading to uncertainty. The depreciation of the Zimbabwean dollar against major currencies has resulted in its rejection in the market. Current regulations allow foreign currency usage until 2025, restricting long-term planning for businesses. 
Speaking during the Zimbabwe Association of Pension Funds Principal Officers and Chairpersons Convention, Mnangagwa said Finance Minister <a href="https://www.pindula.co.zw/Mthuli_Ncube/">Mthuli Ncube</a> was seized with the matter. <a href="https://www.newsday.co.zw/business/article/200017770/businesses-under-siege">NewsDay</a> quotes him as saying:
<blockquote>
You may recall that, for this to come up, it was through a similar engagement like this one whereby the industry asked that we consider the use of the US$,” he said, in response to convention participants voicing their concerns over the expiry of the multi-currency regime.
It’s not only the pensions industry, the banking industry too has raised this saying they are not able to lend beyond 2025 and all papers they are handling are short-term. What I can assure you is that the (Finance) minister (Mthuli Ncube) is seized with this issue, so the industry does not need to panic about this.
</blockquote>
According to data from the Reserve Bank of Zimbabwe (RBZ), loans in Zimbabwe increased significantly from ZWL$1.29 trillion in December 2022 to ZWL$10.19 trillion by the end of June. The rise was mainly due to an increase in foreign currency loans, which accounted for 94% of the sector’s loan portfolio. These loans were distributed across various sectors, with agriculture receiving 17.48%, distribution 14.19%, manufacturing 12.24%, mining 11.78%, and others.
AFC Commercial Bank’s Business Strategy head, Joseph Mverecha, emphasised the importance of macroeconomic stability for sustainable growth and industrialisation. He also advocated for extending the multi-currency regime until 2030 to create economic certainty and stability. Mverechena added:
<blockquote>
Government should also build foreign currency reserves, for example, accumulate gold and FX (forex). We need to strengthen confidence building to restore public faith and trust in macroeconomic policy.
</blockquote>
Mverecha stressed the importance of authorities implementing policies consistently and providing credible macroeconomic forecasts. The government has faced criticism for policy inconsistencies, leading to a loss of confidence and reduced investment. Mverecha emphasized the need to establish a stable exchange rate to inspire confidence, highlighting the declining value of the Zimbabwe dollar. He also suggested reducing interest rates, lowering statutory reserves, and implementing a pooled facility for smaller banks to encourage borrowing and lending.
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Finance Deputy Minister David Mnangagwa Says Banks No Longer Offering Funding Beyond 2025

Kudakwashe David Mnangagwa, the 34-year-old son of President Emmerson Mnangagwa, has briefly outlined the Ministry of Finance’s major targets. He made the remarks recently after being sworn in as the Deputy Minister of Finance and Investment Promotion. Speaking to the media immediately after the swearing-in ceremony on Tuesday, he stated that his mandate will come from his immediate superior, Professor Mthuli Ncube, who is the Minister of Finance.
Mnangagwa said the Ministry aims to tackle issues such as macroeconomic instability and inflation. Watch the video below for more.
<div class="wp-video" style="width: 640px;">
<video class="wp-video-shortcode" controls="controls" height="640" id="video-263737-1" preload="metadata" width="640"><source src="https://t792ae.c2.acecdn.net/wp-content/uploads/2023/09/David-Mnangagwa-speaks-for-the-first-time-as-Finance-Deputy-Minister.mp4?_=1" type="video/mp4"/><a href="https://news.pindula.co.zw/wp-content/uploads/2023/09/David-Mnangagwa-speaks-for-the-first-time-as-Finance-Deputy-Minister.mp4">https://news.pindula.co.zw/wp-content/uploads/2023/09/David-Mnangagwa-speaks-for-the-first-time-as-Finance-Deputy-Minister.mp4</a></video></div>
President Mnangagwa was criticised for appointing his son with some arguing that the appointment was influenced by patronage and nepotism, not merit. 
<h3><a href="https://www.pindula.co.zw/">More Pindula News</a></h3>

WATCH: Deputy Finance Minister Kudakwashe David Mnangagwa Outlines Targets

ZANU PF youth quota candidate for Midlands Province, David Mnangagwa, said youths should not be misled into believing that empowerment opportunities are available only to those who support the ruling party.
Speaking last week at a TellZim-organised women and youths candidates engagement meeting in Gweru, Mnangagwa urged young people to approach relevant ministries for opportunities in farming and mining. <a href="https://www.newsday.co.zw/local-news/article/200014436/opposition-youths-should-grab-opportunities-zanu-pf">He said</a>:
<blockquote>
The praxis of the situation is that under the Second Republic, space has opened up for the youths to engage in mining and farming among other activities.
Don’t mislead the youths that they don’t have mining claims, land for farming and that you are poor because you belong to the opposition.
Have the youths gone to the relevant ministries and failed to get the mines or farms?
At these relevant ministries, they do not ask for party cards or the parties you belong to.
It is the leaders (in opposition) that sell to the youths the prank that it is impossible to get mines or land because you can’t access the ministries.
</blockquote>
Mnangagwa made the remarks while responding to concerns raised by CCC Silobela National Assembly constituency candidate Ephraim Ndlovu that since 1980, both youths and women were still to be empowered. Said Ndlovu:
<blockquote>
Every election since 1980 we have heard parties promising women and youth empowerment, but as we are seated here as youths, do we have the farms, do we have the mines?
The reality on the ground is that you don’t have farms, or mines in your numbers yet you (women and youths) constitute the largest chunk of voters.
</blockquote>
Speaking on behalf of women, Zimbabwe Coalition for Peace and Development vice-president Lucia Matibenga urged women and youths to push for the equitable distribution of national resources.
More: <a href="https://www.pindula.co.zw/">Pindula News</a>

Mnangagwa Urges Opposition Youths To Grab Empowerment Opportunities

President Emmerson Mnangagwa’s son, Kudakwashe David, has reportedly submitted his curriculum vitae (CV) to contest at the ZANU PF seventh youth national conference set for 4 to 8 May.
Kuda is among several other children of top ZANU PF officials, including Justice minister Ziyambi Ziyambi and Police Commissioner-General Godwin Matanga’s sons, who are eyeing top ZANU PF youth league posts.
Midlands youth chairperson Ernest Dzoro on Thursday confirmed to NewsDay that he received Kuda’s CV for the youth elections. Dzoro said:
<blockquote>
We are aware that the process has been extended, but before it was extended, we received 14 CVs.
This was a low number, but after it was extended — yes — we received the CV of Kuda Mnangagwa.
I am not backing anyone. They are all my children and I wish them good luck.
</blockquote>
Meanwhile, a political analyst, Alexander Rusero, said that African political leaders in general and ZANU PF bigwigs, in particular, have a tendency to give top positions to spouses and children. Said Rusero:
<blockquote>
With the elevation of Kuda Mnangagwa, it is prudent to profile his political career in ZANU PF first.
It is the nature of African and ZANU PF politics in particular to have spouses and children as part of the political menu and political mix.
</blockquote>
President Emmerson Mnangagwa’s wife, Auxillia, is a member of the ZANU PF politburo while the late former President Robert Mugabe’s wife, Grace, was the leader of the ZANU PF women’s league.
Former Vice-President Joice Mujuru and her husband, the late Retired General Solomon Mujuru, were also members of the politburo.
Information minister Monica Mutsvangwa and her husband Christopher Mutsvangwa are both members of the ZANU PF politburo.
<h4>More: <a href="https://news.pindula.co.zw/">NewsDay</a></h4>

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