Opinion: Nene Nhanhla has fallen – He is the first of plenty!

If President Cyril Ramaphosa thinks that this will let him of the hook. He is color blind to the efforts and the misuse of power, which was done in the time of Jacob Zuma. Zuma and his cabinet, many, plenty of the Ministers and Members of Parliament was connected with the Gupta’s. It wasn’t only Nene Nhanhla who visited frequently and had connections there. Therefore, the State Capture Inquiry and Commission will dig into more dirt, than the African National Congress (ANC) really wants to reveal. They might even stumble on the humble, even to the people the President doesn’t want to touch.

This because the Guptas and Zuma’s spoiling of the state, their grand corruption wasn’t minor efforts or limited to a few fellow parliamentarians and ministers, no it was on all levels from Local Government to the National Assembly. That is why, Ramaphosa should be worried about all the ones in the sphere of Gupta’s, as they were plenty and more big-shots will have to resign.

That Nene Nhanhla resigned earlier this morning today, but Tito Mboweni was called yesterday to be confirmed as the new Finance Minister. This shows again, just like in the Gupta inspired cabinet changes, there are something fishy going in the ANC. They are trying to play it out and make Nene the fall guy, but they are badly executing it, as their timeline doesn’t even make sense.

We can wonder what will happen to David “Des” Van Rooyen, Pravin Gordhan, Jeff Radebe, Jonas Mcebisi and Blade Nzimande. These are just a few brief people that could be under fire for the same reasons as Nene and their close relationship to the Gupta’s. As this wasn’t something that happen in the deep shadows in a thief’s den, but in the chambers of government and meetings at the compound of the Gupta’s at Saxxonworld in Johannesburg.

Therefore, we should expect more people coming forward, maybe even striking ones, that will also show their greed and will to loot for quick cash. Greed always brings the worst of people, no matter how noble they seem. The opportunity for easy money to pocket comes and when foreign investors gives way. They might have said “Yes”, especially when they looked up to Zuma and so no chance in hell of paying any costs of these money. Not like it looked like a possible investigation or summons for their actions.

However the tide changed and now the uncovering is happening. Nene is not last, neither the biggest. If they are really following the money and the power who gotten eaten by greed. They will cover more people, than Ramaphosa might want to let go. As his loyal comrades are wiped out and he will be let alone. Maybe he will even be implicated, as these cases usually spin-off in all circles, as the bounds of dirty money ends everywhere and on any plate.

Nene is not last, unless this is their fall-guy to wind the investigations down. Peace.

Zimbabwe: ZCTU President’s Address to the Press on National Action Against the Fiscal and Monetary Policy (09.10.2018)

Zimbabwe: ZANU PF Youth League Statement on Wanton Price Increases (09.10.2018)

EFF Calls on Ramaphosa to Accept Nene’s Offer to Resign (09.10.2018)

Reserve Bank of Zimbabwe: Draw Down of Foreign Currency from US$500 Million Lines of Credit for Procurement of Essential Commodities (07.10.2018)

Zimbabwe: A New Economic Crisis because of the Mobile Money Tax!

There are now official reports from Zimbabwe that the prices are rising. This is happening as the 2 % Mobile Money Tax is hitting the businesses and corporations. Therefore, people are worried and hoarding, as the prices are not instant, but the companies are sending warnings to them as customers.

One of them is the Dairiboard Zimbabwe Private Limited, that by 8th October the prices on their products will go up by 14 %, this is told by Commercial Executive Eunice Ganyawu. As Lafarge is saying their customers cannot order more than 600 bags each and with their backlog, there will be a minimum waiting period of 10 weeks for their orders. The Trinity Pharmacy on the 5th October have suspended their acceptance of Medical Aid due to the economic conditions and the lack of foreign currency within the company.

There are also more stores writing to their customers, that they should limit their items, as they are only allowed to buy certain amounts of breads, milk, cooking oil and so on. The taxes are really not only hurting business, but also ensuring that the inflation is hitting the citizens. This because the transactions are more expensive.

There is also shortage of United States Dollars, which makes the businesses go on the black-market, that the premium prices on imports. There are also reported hour-long ques for petroleum, as the foreign exchange is in free-fall, as the other businesses has been hit too. Its like the government didn’t prepare for the ramification of the taxes, as it has hit all parts of society.

People are really starting to build up stockpiles, as the products are leaving the shelves, as they expects the prices to be higher by next week. As the inflation has hit the Republic again. The prices are surging as the hoarding, as the companies cannot afford to import and even lacking enough petroleum.

We can wonder what is the aftermath, as the Mobile Money is more expensive, the Bond Notes are too and the imported products are paid with US Dollars, which is all going up. While the prices are going up next week. Meaning the businesses are losing now, and will struggle to stock-up as the cost of doing so will be higher.

The value of the Bond Notes will go up, the Mobile Money value has also fallen because of the taxes and the cost of US Dollars is also going up. Therefore, everything is more costly and the added price will only go worse. The Reserve Bank of Zimbabwe (RBZ) is making sure the inflation is controlled and neither the policies to secure the value of the currencies at the whole. Therefore, the ones bearing the weight is the public and not the state. Most likely the shops will run out and cannot afford to restock. As the situation will turn dire.

This is beginning of another 2008. This time the Blue Roof is relaxing and not responsible, but the same Junta is. The Zimbabwe African National Union – Patriotic Front (ZANU-PF) and President Emmerson Mnangagwa, who is now doing the same as the Goblin. Destroying the economy and ensuring the currency is losing its value. Because that is how you get foreign investors interested in Republic. NOT. Peace.

DFCU Bank Attorney’s to Rajiv Ruparelia: “Re: Notice Before Legal Action” (05.10.2018)

Opinion: It is Bosco’s own business deals that is the reason for the sorry state of Owino Market!

The way to wealth is as plain as the way to market. It depends chiefly on two words, industry and frugality: that is, waste neither time nor money, but make the best use of both. Without industry and frugality nothing will do, and with them everything.”Benjamin Franklin

You can go back to 2013, when Ham Enterprises pitched the Nakivubo Stadium to takeover for the vendors at Owino Market or the Park Yard. Therefore, the actions of President Yoweri Kaguta Musveni calling out people is outrageous. As Bosco is forgetting his own business-deals and agreements that directly interfered with the Kampala Capital City Authority (KCCA) and City Hall. All of these had to comply, as the buy-outs of the vendors and the lack of possible movements, the building of the Stadium has made issues since 2013 and boiled over in 2017. When the KCCA and the Ministry of Kampala Beti Kamya issued an order to throw them out.

That is why the sorry state of the area. This should be knowledge for the micro-managing President. However, he acts like it as a blank slate and he has no involvement, when the agreement between Ham Enterprises and the state, happen at the State House and he was signing the documents, ordering the Ministry, KCCA and take it out of the hands of the City Hall. So, it is really insincere what he was saying yesterday.

The government is working out modalities of retrieving these market titles from the rich and hand ownership back to vendors. Kampala Capital City Authority will help oversee management of these markets. Whereas I commend traders in Owino and Nakasero markets for working hard to create wealth through their Saccos and responding to our NRM call, I am unimpressed by the poor state of the Old Taxi Park. I am told this is partly due to the leadership wrangles among the taxi park stakeholders facilitated by opposition leaders in the city. Stop electing selfish leaders who only care about their salaries. However, we shall fix this matter” (Yoweri Kaguta Museveni, 05.10.2018).

That we can really see, thanks to all the propaganda and the pictures of yesterday, that the 2013 deal and changes of the Park Yard haven’t finished yet. As the President was most likely there to check his investments and his trade-offs. That is why he was bothered of the slow progress, as the planned stadium are still not done and there has gone 5 years. This is one year after the market and vendors was moved by decree of the appointed Minister Kamya.

The President is mad that Lord Mayor Erias Lukwago is a selfish leader, when in general, the deals done in Kampala and Owino is his. Meaning the President is selfish, not Lukwago who has fought for the vendors. That is the ironies, but also the reality. That is why the 32 years and going Executive, is forgetting his privilege and use of power. Ham Enterprise is surely working, but slowly, the stadium is in the building process and surely why he visited and complained, as he expected it to be done yesterday. So his investment could grow proper yields, like his farms. However, that is not how it works with urban development, especially when you need spaces for malls and other vendors, who was kicked out.

Would he ever fix their issues, the bad loans in the DFCU bank, which the vendors had in 2017? No, he wouldn’t care or carry them as their livelihood is at stake? But that isn’t the cup of tea that this President carries. Peace.

Zimbabwe: Press Statement by the Minister of Finance and Economic Development Hon. Prof. Mthuli Ncube on the Intermediate Money Transfer Tax (05.10.2018)

Possible outcome of the revised Investment Code of 2017!

Yesterday at the Plenary in the Parliament, discussed the revised Investment code of 2017. Which in its self isn’t the most exiting thing. Nevertheless, the reality is that this is now in Parliament shows a push from the Members of Parliament and the Committee of Ministry of Finance, Planning and Economic Development (MoFPED). That they are up to something. They are trying to forge something ahead. However, as the President has claimed the bureaucrats for being lazy, this shows another attempt. However, if this parts of the laws are enacted. Will ensure that it takes longer and the quality of the Foreign Investor to hold onto the new demands of the state. This will also give more power to the Uganda Investment Authority (UIA).

As the September report on the bill states. They will register all investments and all incentives inventory, as off who is doing what and licensed to do. As the Foreign Investor has to comply too a more rigid laws to be able to in the first place now.

Because the change of laws is that an exports of a minimum of 70% of the production in the given incentive, hire at least up to 60% Ugandan citizens and accept to monitored by the authorities and the statutes within the law. This being the UIA, which has the oversight.

The Incentive before launching has to verified and certified by the UIA. The same authority that has oversight and register the incentives. The Foreign Investor has to notify the UIA if they are complying with their inventory to the UIA as per law.

As to make it more hectic for anyone to invest is not allowed to directly to be investing in farming, as production of agricultural output. They cannot do that, but they can be able and allowed to own factories and businesses that helps the farmers to get better crops or bigger livestock.

The law states further the priorities for a Foreign Investor, as per law: “1. agro processlng; 2. food processing; 3. medical appliances; 4. building materials; 5. light industry; 6. automobile manufacturing and assembly; 7. household appliances; 8. furniture; 9. logistics and ware-housing; 10. information technology; or ll. commercial farming”.

This really put the parameter for what they can and cannot do. They are specific as to who allows, what sort of investment, who certifies and who monitors. Therefore, a foreign investor, by law has to comply a lot more and has to have more paperwork to prove his business-plan, prove his investment, his hires and his initial plan for getting exports of the giving products. This will clearly hamper investments and create a longer time-table for them. As the Foreign Investor cannot focus on local market, but on international market, because that is how it is by law. In addition, when you invest in something, you don’t want to loose your certification or your rights to produce or export given products.

Also, the same investor needs to incorporate the business with the Registrar General, a certified of remittance by the Bank of Uganda, the second, the certified of remittance to lodge an application to the Department of Immigration and this department have to give the Foreign Investor a permit to do stay and do business in Uganda. Therefore, before engaging with the new criteria of the UIA and MoFPED, the investor has to get the BoU in check and get the Department of Immigration. If all of these factors doesn’t slow down a process, nothing does. This is clearly a way of securing jobs for bureaucrats and lesser the burden of the foreign exchange and remittance in general.

  1. Get UIA Approval and Certification of Business
  2. Get BoU Certification of Remittance
  3. Get Department of Immigration – Permit and Application of Remittance
  4. Getting monitored by the UIA to see you comply with the codes.

If that sounds like an easier way in, it doesn’t, more offices and paperwork, before even spending money. This code will clearly hamper more foreign investors from coming, unless they are giving Presidential Handshakes to the President. I am sure he then lets them in. Peace.