RBZ bosses suspension laudable, but …

YESTERDAY’S suspension of four senior Reserve Bank of Zimbabwe (RBZ) directors fingered in fuelling the parallel market rates between the United States dollar and the bond notes, which has resulted in basic commodity prices skyrocketing and in short supply, is an opportunity for government and law enforcement agents to dig deeper to the bottom of this mess. We applaud RBZ governor John Mangudya for his swift action.

Editorial

While we believe the suspensions were sensible at this time, we do not want to believe that it had to take William Mutumanje, also know as Acie Lumumba, to expose this rot, especially with the kind of State security apparatuses that Zimbabwe boasts of.

It is also our hope that the “New Dispensation” has not decided to take the population for a ride simply to divert attention from its failure to steward the economy.

Mutumanje is a rank outsider and why would government decide to give him the job to expose its system if this is all not about political expediency.

We smell a rat here. There could be more to the suspensions than meets the eye – political contestations over control of levers of power than the economy.

Whatever it is, cash barons and other economic saboteurs must face justice. It would be a tragic turn of events that will deflate whatever little scraps of confidence the nation has in President Emmerson Mnangagwa’s government, should this turn out to be much ado about nothing such as the sham trials of former ministers Ignatius Chombo, Walter Mzembi and Samuel Undenge.

classifieds.co.zw ads

classifieds.co.zw Ads

This is what we have seen in Zanu PF regimes of the past where some individuals or companies would be named and shamed for externalising foreign currency, but with no action taken against the individuals. Even as citizens celebrate or berate Mutumanje’s exposé, we still require details of what transpired to the nearly 100kg gold and US$4 million in cash which was seized by the police from business of Asian origin towards the July 30 elections.

Instead of arresting the culprits, government quickly arranged a meeting with the community where they urged many to support candidates for councillors and MPs from their communities. Whose money was it anyway?

Thorough investigations should be carried out and appropriate measures taken if these individuals and their said network are found on the wrong side of the law. A few rotten individuals, be it at the RBZ or elsewhere in government structures, cannot be allowed to hold the entire nation to ransom like this.

It is indeed time to clean up the mess, and if they were politicians involved in this scam, then the arm of the law should not be shortened.

It should reach wherever they are so that they are brought to account for their treasonous misdemeanours.

The transparency and good corporate governance upon which Mangudya said this decision was based should become a culture in both the financial services sector and State institutions. These characters should be unmasked and face the music. In fact, whoever is involved with this cartel should be uncovered and face the music.

These individuals have done significant damage not only to the economy, but have wrought untold suffering to the poor majority who suddenly found themselves in sixes and sevens with their bond notes becoming no more than garden manure when they had been assured that the money in their accounts had the same value as United States dollars.

Such selfish, self-centred and greedy characters as leaders or business people with no scruples have no place in the Zimbabwe we are all trying to build. These are the saboteurs who would rather continue living pretty while the rest of us walk through hell.

Institutions like the RBZ must be staffed by men and women of integrity who are committed to the development and progress of this nation.

Miscreants are enemies of the State and should be treated as such. They should never be allowed to hold an entire nation to ransom as these individuals have been allowed to do for so long a time. We need a new culture and a new way of doing things if we are to win the international confidence we desperately need for us to move forward.

Do you have a coronavirus story? You can email us on: news@alphamedia.co.zw

11 Comments

  1. indeed something is amiss here and the whole thing is not fitting properly and one wonders if rbz will be able to continue mopping up currency from the streets to fund the economy because what the suspended guys were doing is mere facilitation of the process but unfortunately there were also putting their huge cut which irked powers that be because, boy oh boy the guys were now making good bucks and good bucks for sure

  2. The fact that the pararel money market was the work of some people in high offices is not news at all to the ordinary person in the street but to all and sundry. The difference here is that the authorities pretended not to know about it for the very reason that a lot of them if not all, were active in the scam by omission or by comission.
    The big question now is- Are you as an individual not contributing to this rot. This question is for you as an individual citizen, teacher, doctor, Chief Justice, street vendor ZEC chairman, farmer gweja Police chief , army chief etc. Take a closer look at yourself in the mirror .
    Apa tirikurumwa nechekuchera.

    1. you are compelled to contribute to the rot because you need to source for various things through the black market eg money to buy pills, dstv payments etc so the rot will continue unabated

  3. Its a pity to have reporters who always smell a rat when something positive has been done by the government. Its difficult, or rather impossible for you to applaud in totality. your reporting is leaving a lot to be desired.

    1. If you have 100% trust in this govt, its your choice. Quite a huge chunk of urbanites voted against it – they have no faith, confidence or trust in it. The elections results mirror this. So take your pick..if you want polyanna journalism go for the state media which preached success for 38 years when failure and poverty stared at us all around..
      Stupidity has no boundaries!

  4. Why should we applaud for something that is part of someone’s job description in the first place, how can we sing praises to ED & his gang for the crack down on corruption yet it’s precisely the reason why we pay them our taxes for

  5. Thank you, Newsday for this editorial. Please keep track of this and other cases where government seem inept to follow through.

  6. By the way, what happened to those who externalised US$3 or did i miss their fate.

  7. There can’t be anything more unbearable on earth than having to owe our gratitude to Lumumba for whatever work he has done for the nation. That boy is a nuisance of unpredictable allegiances who makes noise like a mosquito in the night

  8. The issue here is that Queen B (allegedly Kuda Tagwirei of Trafigura aka Sakunda&Puma) has captured people in gvt,mdc,zanu,etc…this is a person who allegedy spends hundreds of millions a year to fund the lifestyles of very very senior political figures on all sides of the political spectrum….To break up this Queen B’s cartel…Ed last week tried to get CIO/MID/ZRP-PISI/RBZ-Financial Intelligence&ZACC to arrest these four guys and almost 8 other senior gvt and business executives but disagreements in the different services meant it was not possible to forward…the plan was then leaked to Queen B and allegedly the General in Sa and that is why the health visit to SA was cut short…The General and the Queen B, allegedly, are very close whilst ED who is keen to establish a legacy as the economic reformerwho restores Zim to economic glory feels constrained and blocked by the cartel….

    The reason why the story has not yet gained traction in mainstream media is that certain editors and journalists (both public media and private) whose names will soon be made public have also been captured by Queen B and the cartel….Just ask yourself how a reporter who writes for NewsDay/DailyNews/Herald can afford an X5/X6 and a house in the low density and you start to get a true picture of how deep in the hole us ordinary people are whilst others are getting fat off our suffering

  9. the problem is that you dont have better suited people willing to risk their lives for such exposes

Leave a Reply

Your email address will not be published. Required fields are marked *