Zimbabwe's crippling economic problems are all man-made problems and therefore within the powers of mortals to solve. The only reason why the nation has failed to solve any of the problem resulting in the nation sinking deeper and deeper into this hell-on-earth is that the people have never believed it is in their power to solve the problems. Here is a nation who are convinced they are totally helpless, who gave up the fight without even throwing a punch!
Zimbabwe is like someone drowning not because they cannot swim but will not standup for the water is only a few feet deep! How does one tell someone to standup who will not even make the effort to listen. It is very frustrating, infuriating!
One of the things that the Finance minister needs to do is to have consistency and the courage to break with the past which promoted profligacy on the part of government. It is unsettling that Ncube is going back on his word not to purchase vehicles for MPs and senators.
Will government go back to printing Treasury Bills knowing fully well that the $2,7 billion debt it is trying to service through the unpopular two percent tax per every dollar transaction is a result of its insatiable appetite for wasteful spending?
Let's wait and see.
Zimbabweans are the some of the heavily taxed people on the planet. Whilst all the successive Ministers of Finance have taxed workers and companies forcing many companies to close down growing millions of worker out of work. Zimbabwe’s unemployment has soared to the dizzying heights of 90%.
Finance Minister Mthuli Ncube has the daunting task of raising money to feed a regime with a ravenous appetite that has grown exponentially from a tax base that has all but disappeared. Since there are no companies and workers for him to tax Ncube is going after the 90% unemployed eking a living as vendors, the 75% living on US$1.00 or less a day. Anywhere else the government would have the 75% living in abject poverty on welfare; in Zimbabwe the regime is devising ways take its cut from that US$1.00 or less a day!
Whilst the other Finance Ministers has condemned millions of workers to the unemployment heap and join the growing army of vendors. Instead of doing something to rescue the vendors back into secure formal employment, Minister Ncube is pursuing them driving many out of the informal sector into the dangerous world of petty criminals, prostitution and worse! Well done Minister Ncube, what a curse you have proven to be!
Whistleblower Prisca Mutema has heightened her call for President Emerson Mnangagwa , Finance minister Mthuli Ncube and General Constantino Chiwenga to probe Reserve Bank Governor John Panonetsa Mangudya on The Zimbabwe Asset Management Corporation loot scandal also known as the #ZAMCOHeist if they are serious about stopping corruption.
"If any of you, Mnangagwa, Mthuli Ncube, Chiwenga are serious at all about fighting corruption, we need the ZAMCO loan book opened, all US$1 billion of it. Agribank is 100% government-owned, which means taxpayers are shareholders." Mutema sid.
"Minister Mthuli Ncube , ignoring the #ZAMCOHeist will not solve anything. Just last week, Agribank CEO Mr Sam Malaba said, in front of President Mnangagwa, ZAMCO had taken $17 million from them in Non-Performing Loans (NPLs) just last year. That is $7m more than the $10m Agribank projects as profit!
"As at DEC 2014, when John Mangudya came up with this ZAMCO scheme to fleece taxpayers of US$1billion, 40% of all loans at Agribanks were considered NPLs and were handed over to ZAMCO by Agribank to be paid off through Treasury Bonds funded by our taxes. 40% is almost half of all loans issued.
"Who were these people who never paid back their loans to Agribank? What politicians, opposition people and politicians relatives are these? Some ZANU PF Youth League people also borrowed further from another Youth Bank initiative after borrowing from Agribank and never paid back a cent."
Mangudya is accused of using ZAMCO to siphon over $I billion from banks through Non Performing Loans. Yesterday another whistleblower William Mutumanje was invited by the Zimbabwe Anti Corruption Commission to assist them in the investigation behind the alleged rot at RBZ.
Mangudya will never be fire much less arrested because such a move will soon see those close to Mnangagwa roped in the scandals. Mnangagwa knows better than start a fire that will soon burn him too!
Zimbabwe's crippling economic problems are all man-made problems and therefore within the powers of mortals to solve. The only reason why the nation has failed to solve any of the problem resulting in the nation sinking deeper and deeper into this hell-on-earth is that the people have never believed it is in their power to solve the problems. Here is a nation who are convinced they are totally helpless, who gave up the fight without even throwing a punch!
ReplyDeleteZimbabwe is like someone drowning not because they cannot swim but will not standup for the water is only a few feet deep! How does one tell someone to standup who will not even make the effort to listen. It is very frustrating, infuriating!
One of the things that the Finance minister needs to do is to have consistency and the courage to break with the past which promoted profligacy on the part of government. It is unsettling that Ncube is going back on his word not to purchase vehicles for MPs and senators.
ReplyDeleteWill government go back to printing Treasury Bills knowing fully well that the $2,7 billion debt it is trying to service through the unpopular two percent tax per every dollar transaction is a result of its insatiable appetite for wasteful spending?
Let's wait and see.
Zimbabweans are the some of the heavily taxed people on the planet. Whilst all the successive Ministers of Finance have taxed workers and companies forcing many companies to close down growing millions of worker out of work. Zimbabwe’s unemployment has soared to the dizzying heights of 90%.
Finance Minister Mthuli Ncube has the daunting task of raising money to feed a regime with a ravenous appetite that has grown exponentially from a tax base that has all but disappeared. Since there are no companies and workers for him to tax Ncube is going after the 90% unemployed eking a living as vendors, the 75% living on US$1.00 or less a day. Anywhere else the government would have the 75% living in abject poverty on welfare; in Zimbabwe the regime is devising ways take its cut from that US$1.00 or less a day!
Whilst the other Finance Ministers has condemned millions of workers to the unemployment heap and join the growing army of vendors. Instead of doing something to rescue the vendors back into secure formal employment, Minister Ncube is pursuing them driving many out of the informal sector into the dangerous world of petty criminals, prostitution and worse! Well done Minister Ncube, what a curse you have proven to be!
Whistleblower Prisca Mutema has heightened her call for President Emerson Mnangagwa , Finance minister Mthuli Ncube and General Constantino Chiwenga to probe Reserve Bank Governor John Panonetsa Mangudya on The Zimbabwe Asset Management Corporation loot scandal also known as the #ZAMCOHeist if they are serious about stopping corruption.
ReplyDelete"If any of you, Mnangagwa, Mthuli Ncube, Chiwenga are serious at all about fighting corruption, we need the ZAMCO loan book opened, all US$1 billion of it. Agribank is 100% government-owned, which means taxpayers are shareholders." Mutema sid.
"Minister Mthuli Ncube , ignoring the #ZAMCOHeist will not solve anything. Just last week, Agribank CEO Mr Sam Malaba said, in front of President Mnangagwa, ZAMCO had taken $17 million from them in Non-Performing Loans (NPLs) just last year. That is $7m more than the $10m Agribank projects as profit!
"As at DEC 2014, when John Mangudya came up with this ZAMCO scheme to fleece taxpayers of US$1billion, 40% of all loans at Agribanks were considered NPLs and were handed over to ZAMCO by Agribank to be paid off through Treasury Bonds funded by our taxes. 40% is almost half of all loans issued.
"Who were these people who never paid back their loans to Agribank? What politicians, opposition people and politicians relatives are these? Some ZANU PF Youth League people also borrowed further from another Youth Bank initiative after borrowing from Agribank and never paid back a cent."
Mangudya is accused of using ZAMCO to siphon over $I billion from banks through Non Performing Loans. Yesterday another whistleblower William Mutumanje was invited by the Zimbabwe Anti Corruption Commission to assist them in the investigation behind the alleged rot at RBZ.
Mangudya will never be fire much less arrested because such a move will soon see those close to Mnangagwa roped in the scandals. Mnangagwa knows better than start a fire that will soon burn him too!