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



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.




The Reserve Bank of Zimbabwe (RBZ) Governor John Panonetsa Mangudya dropped a Monetary Policy Statement on the 1st October 2018. This one is really telling the state of the economy, as they are planning to find ways to cover their deficits and also fueling the financial state will all means. They are pawning the state and hoping to finds ways to cover the expenses.
Especially, will the Zimbabwe African National Union – Patriotic Front (ZANU-PF) who will address and put this into effect.
The major task is the electronic and digital payments or transactions, which the Monetary Policy is addressing too, just like other countries recently. Therefore, the public will cost for the expenses that the ruling party has taken for granted.
This amount of money, they want to tax:
“A total of 3.2 million transactions valued at US$37.6 billion were processed through the RTGS system during the six months ended June 2017. This represented 25% and 31% increases respectively. The mobile payment channel was second highest with 13% and 14% increases in volumes and values aggregating to 15 million and USD5 billion correspondingly” (RBZ – Monetary Policy Statement, 01.10.2018).
As the RBZ told the estimated usage, the Minister of Finance and Economic Development, Prof Mthuli Ncube, dropped his statement on how to tax that money:
“Treasury introduced the Intermediated Money Transfer Tax with effect from 1 January 2003 through the Finance Act 15 of 2002. The tax was set at 5 cents per transaction, which was a specific tax. However due to the increase in informalisation of the economy and huge increase in electronic and mobile phone based financial transactions and RTGS transactions there is need to expand the tax collection base and ensure that the tax collection points are aligned with electronic mobile payment transactions and RTGS system. The information we have so far is that in 2018 1.7 billion transactions went through as compared to 50 million four years ago. I hereby review the Intermediated Money Transfer Tax from 5 cents per transaction to 2 cents per dollar transacted, effective 1 October 2018” (Prof Mthuli Ncube, 01.10.2018).
With the knowledge of the usage of Mobile Money, this will clearly hit the citizens with the least. Also, all informal usage of the mobile money use. This is clearly, a way of bleeding the financial market as every transaction will be more costly. By doing so, the state is also taking out valuable funds, as these are taken out and not able to be spent on needed goods and services.
This here will impact the transactions and also most likely, ensure that less people are using them. As the cost of Mobile Money are too high. They are really pushing the envelope and adding more cost to ordinary life. As the simple thing of moving money from A to B becomes costly and the adding expenses are all because of the state. This because the government are making sure people are paying more every single time. They are directly paying two percentage tax on the Mobile Money transaction. That is effective from yesterday. This is what the government are doing its citizens, where the government have to do crowd-funding to fix the cholera problem. That is the government that are doing this too. Peace.



UNHCR, the UN Refugee Agency, today welcomes South Sudan’s accession to the 1951 Convention on the Status of Refugees and its 1967 Protocol. President Salva Kiir signed the accession instrument in Juba on Friday (September 28) after it was ratified by the Transitional National Legislative Assembly.
South Sudan has become 143rd country to accede to both the 1951 Convention on Refugees and its 1967 Protocol.
The country hosts some 300,000 refugees, despite all the challenges of civil war that has displaced a large number of its own population.
“This is a milestone for the world’s youngest nation as South Sudan commits to assuming more responsibility to protect refugees and asylum-seekers in the country,” said Valentin Tapsoba, Director of UNHCR’s Regional Bureau for Africa.
In 2016 the country also became a party to the 1969 Organisation of African Union Convention on Refugees, a regional instrument governing the specific aspects of refugee problems in the African continent.

Drawing lessons from conflict – particularly the causes and ultimate resolution – can be a vehicle for positive change, South Sudan’s Vice-President told world leaders gathered at the United Nations General Assembly, highlighting his country’s efforts to ensure lasting peace.
DAKAR, Senegal, September 28, 2018 – “As brothers and sisters, we have hurt each other,” said Taban Deng Gai, the First Vice-President of South Sudan, telling delegates at the Assembly’s annual general debate that his country, gripped by conflict for nearly five years, is seeking “national healing” through and inclusive, nationwide dialogue process.
A multi-layered approach has been launched in South Sudan to repair its “social fabric”, he added, and its “grassroots component” is working with local communities to identify causes of division while also searching for solutions on how to heal them.
“The process allowed for those who didn’t have an opportunity to have their voices heard to begin putting across their various viewpoints,” said Mr. Deng Gai, noting that such information will be vital as the country moves forward in its peace process.
The South Sudan leader also highlighted the recent agreement between President Salva Kiir and his former Vice-President Riek Machar on ending violence that has claimed tens of thousands of lives and displaced millions across the world’s youngest nation.
He added that the Government of South Sudan welcomes the guarantors of the agreement to monitor its implementation and that it encourages the Intergovernmental Authority on Development (IGAD, an eight country trade bloc in Africa) and the African Union (AU) to work with the UN Security Council on the support that can be provided by the UN-mandated Regional Protection Force in the country to ensure that peace holds in his country.
The Vice-President also informed the UN Assembly of his country’s commitment to security sector reform, combat impunity and upholding human rights.
In particular, he noted the recent verdict by a military court, finding South Sudan soldiers guilty of horrific crimes against civilians and journalists in the infamous Terrain Hotel attack in July 2016.
“The Terrain trials demonstrated the commitment of the SPLA [the Sudan People’s Liberation Army] to make its members account for their crimes, including abuse of civilians,” asserted Mr. Deng Gai.
Also in his address, the Vice-President of South Sudan said that his Government awaits the settlement of the final status of Abyei, reiterating its support for the recommendations made by the UN Secretary-General. The Government of South Sudan also urged speedy resolution of contentious issues in Blue Nile, Southern Kordofan and Darfur.
“This emanates from our strong belief that stability in these areas is critical for total and lasting peace in the Republic of South Sudan and the Republic of Sudan and the region as a whole.”