Lawyer Tinomudaishe Chinyoka says Finance Minister Mthuli Ncube has abandoned his responsibility to grow the economy, instead focusing on taxing Zimbabweans “to the bone.”
Chinyoka also criticised Ncube for allowing the Reserve Bank of Zimbabwe (RBZ) to maintain and expand its power to make policy decisions, which he argued is not a requirement of central bank independence.
According to Chinyoka, Ncube’s move is not about adhering to economic principles but about creating an alibi — someone else to blame when things go wrong.
Approximately two weeks ago, Chinyoka shared Part One of a post on X (formerly Twitter), titled “Mthuli Ncube Is A Sellout. Sadly, Not The Only One.” On February 20, he posted Part Two of his opinion piece, presented below:
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Again, I repeat, just because I support the ruling party and the President does not mean that I cannot point out things that are wrong with where we are going. This country is headed in the wrong direction.
The truth is, the President’s Vision 2030 (the correct one, about Zimbabwe achieving Middle-Income status by that year and not the delusional wet dreams of those pushing the so-called Resolution 1 because they have no future in a post-ED dispensation), that Vision 2030, is quite simply NOT GOING to happen. No chance.
And much of the blame, if not all, lies on [Treasury]. And the Minister, [Mthuli Ncube] who was imported from Switzerland precisely to shepherd Treasury for the attainment of Vision 2030.
And, in order to make the task easier, the President’s team crafted the National Development Strategy 1 (NDS1), which when you read it is a thoroughly insightful and cerebral blueprint which was guaranteed to deliver Vision 2030.
Instead, Mthuli went off on a tangent. Rather than focus on growing the economy by giving leadership to the market, crafting pro-growth budgets, influencing interest rates, providing a safe investment environment, encourage borrowing for business investments, stimulate consumer spending, simplifying the tax code implementing ease of doing business measures, Mthuli has instead decided that the sole purpose of Treasury is to tax people to the bone.
His 2% transaction tax has done untold damage to the formal sector and driven people to hide money in their mattresses rather than bank it, and his lax regulation of bank charges punishes those who can’t use their mattress.
He has allowed the [Reserve Bank of Zimbabwe] to maintain and gain further powers to make policy (not their job) not because that is what central bank independence requires, but because he needs an alibi – someone else to blame when things don’t work.
And, because folks at the central bank aren’t exactly clean themselves, they like this arrangement just fine because they too have him as their alibi.
The first few years of his tenure the President was touring huge infrastructure projects and we took pride in the fact that local companies were delivering on them.
The Masvingo to Beitbridge highway was going to truly become Jonah Moyo’s Masvingo ne Carpet from either end, but now whole sections have been abandoned because contractors were not being paid, and when they did get paid, it was in the mismanaged ZiG months after the invoice date meaning that the payments were always a fraction of the cost.
Mthuli is a sellout but he is not the only one. Why are people taking the President to Pomona dump site and Ken Sharpe’s scandal-ridden projects in wetlands or stadiums with no toilets instead of the signature projects that are either abandoned or have slowed down due to non-payment?
Where is that $5 billion platinum mega-deal he opened a few years back? Where are we with Gwayi Shangani? Where is the Chitowa dam project meant to create a huge lake on the Save River?
Why is Mthuli paying the IMF and white farmers ahead of local companies that are actually doing something to deliver the President’s agenda?
Which section of NDS1 is achievable by boasting at Davos that you are taxing poor people to the bone while not paying the people actually doing something to develop Zimbabwe through NDS1? Which policy proposal in the budget directly drives towards NDS1 and Vision 2030?
Mthuli is good at one thing and one thing only: creating and maintaining a tax regime that is not only inimical to fostering economic growth, but one guaranteed to ensure that when the President says “Zimbabwe is open for business” everyone knows he is lying.
Vision 2039 is not achievable because Mthuli abandoned the entire thinking behind the President’s NDS1. Now, if that is not deliberate sabotage against his Principal’s Vision 2030, what is it?
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Pindula News

A lawyer named Tinomudaishe Chinyoka is saying that Finance Minister Mthuli Ncube is not doing his job of helping the economy grow. He is instead focusing on taxing people a lot. Chinyoka also criticized Ncube for giving too much power to the Reserve Bank of Zimbabwe. Chinyoka thinks Ncube is just trying to blame others when things go wrong instead of fixing the economy. Ncube is not the only one doing this, according to Chinyoka. He is not following the plan to make Zimbabwe a middle-income country by 2030. Chinyoka thinks Ncube is hurting the economy by only caring about taxes and not helping businesses grow.

"Mthuli Ncube Is A Sellout. Sadly, Not The Only One - Part 2"

Lawyer Tinomudaishe Chinyoka has suggested that Finance Minister Mthuli Ncube is intentionally making President Emmerson Mnangagwa and ZANU PF increasingly unpopular by enacting numerous statutory instruments that create hardships for ordinary citizens.
In a post on X, Chinyoka warned that Ncube’s policies could provoke public unrest, adding that Ncube may eventually secure a cushy position with a foreign multinational, implying that this strategy was part of a larger, more calculated plan. Wrote Chinyoka:
<blockquote>
Supporting ZANU PF means supporting its leaders, particularly President Mnangagwa. However, it is painful to see the President and ZANU PF sleepwalking into a catastrophe because faith was deposited and then kept for too long in that snake oil salesman: Mthuli Ncube.
More than half a decade into the job, after being parachuted not from within the ranks of the party but from Switzerland, the Minister can boast of several signature achievements: (a) championing the wholesale payment of billions of dollars that we don’t have to compensate white farmers for the loss of farms that they had put on our land; (b) running fiscal policy by statutory instrument; (c) losing a currency not once but twice; (d) taxing citizens to the bone while creating zero revenue growth outside taxation and, yes (e) religiously attending DAVOS.
The problem that those around the President are not seeing is that all these things, which are the sum total of Mthuli’s technocratic contribution to government, have one thing in common: they make ONE MAN unpopular. And, sadly for HE, that man is not the Professor.
The idea of paying for land that was stolen from us is deeply unpopular. And to that you have Mthuli now taxing cows. When the white people came and started a hit tax it caused Chimurenga I. There is no guarantee that taxing cows won’t cause Chimurenga III.
The plethora of Statutory Instruments that Mthuli uses to run a parallel (un)constitutional arrangement is convenient yes, but it talks of lack of stability.
Besides the fact that each Statutory Instrument is decidedly unpopular. And every unpopular thing directs people’s anger not against the Professor, but his president.
The 1:1 Statutory Instrument wiped away our savings but created a few winners who knew it was coming. You heard Guvamatanga saying he keeps his money abroad: that was a god whistle to say he was unaffected by the 1:1 heist. (Speaking of which, was it really wise to have so important a Ministry have both Minister and Permanent Secretary not from the party but imported from business? At least vaChinamasa knew people’s suffering from attending ZANU PF cell meetings.)
The Capital Gains statutory instrument broke the law by being retroactive and punished people that had religiously tried to abide by the rules. It created angry people that owned property.
The “deemed smuggled” Statutory Instrument breaks the law by seeking to override the constitutional right to be presumed innocent until proven guilty.
It has created angry people everywhere because things will be very expensive and the informal sector will no longer be a possible way for people to earn a living.
People’s anger can only be contained so far. Right now, on the ground, no matter how many roadblocks the State can put up, you can sense the tension bubbling under the surface. If people go ahead and revolt, the reason will only ever be that people are fed up with Mthuli’s economics.
The guy lost a local currency not once but twice. And, in the world stage, given an opportunity to talk about his achievements, the guy plumbs for his fancy sugar tax. You get the feeling he is auditioning for another job, not here but over there.
I am not the appointing authority but, the appointing authority is being walked into a hole by not a clueless but clearly motivated saboteur.
By the time he is done, we may well find out through riots and him accepting a cushy job in some foreign multinational company/organisation that this was always the plan within a plan within a plan.
Professor Mthuli is not stupid. He cannot fail to see the effects of what he is doing. He cannot fail to see that his decrees are both unpopular and unconstitutional. 
Which leaves only one possibility on the table: all of this is deliberate. Sure of the trust that he clearly has from the President, he abuses it by slowly destroying the economy.
</blockquote>

Summary:
A lawyer named Tinomudaishe Chinyoka thinks Finance Minister Mthuli Ncube is purposely making the President of Zimbabwe, Emmerson Mnangagwa, and their party unpopular. Ncube's policies are causing hardships for ordinary people, which could lead to public unrest. Chinyoka believes Ncube might be planning to get a good job with a foreign company. Ncube's decisions, like paying white farmers for land and creating unpopular taxes, are making people angry. Chinyoka feels Ncube is hurting the economy on purpose, and may leave for a better job elsewhere. This could lead to riots and more problems for Zimbabwe.

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