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Archive for the tag “Emmerson Mnangagwa”

Opinion: RTGS Dollars are Bond-Notes on steroids!

Today on the 20th February, the Governor John Mangudya of Zimbabwe Reserve Bank have launched a new currency in the Republic. This is the second time within the amount of three years, that the Zimbabwe African National Union – Patriotic Front (ZANU-PF) have launched a currency.

Because on the 26 November 2016, the same authorities launched the Bond-Notes. As that currency been struggling ever since. As the promise of 1:1 Forex Exchange between the Bond-Notes and US. Dollars. However, that haven’t been the issue, as the Bond-Notes been weaker than that. Significantly weaker, but the authorities have played around like it has the same value.

The RBZ have launched the RTGS Dollars, which are fully named Real-Time Gross Settlement Dollars. In all means of the name is real long name for a currency. Even the RTGS Dollars sounds like insignificant transaction. Because, the RTGS is like a crypto currency, a digital one, where the amount of RTGS Balances + Bond-Notes = RTGS Dollars.

Therefore, the RTGS is based on the liquidity of RTGS Balances, which means the Mobile Money Transactions plus the Bond-Notes. That is showing the lack of value in the currency before even starting.

What is showing the nightmare of the whole Bond-Notes of 2016 is relaunched today in 2018. It is just repacked and they hope this will maintain stability of the exchange rate. However, it is now the whole multi-currency system in a boiling pot and they hope it becomes a tasty stew, by blending in a new feature. Which seemingly is built on a transactions system, instead of a assets and liquidity built into a stable financial market. As the currency is supposed to be trusted and be a state instrument for transactions. Instead, here it is built on shaky grounds and just awaiting to sink.

The governor of the bank has in 2017 called the economy an albatross. Certainly with the RTGS Dollars, that is not changing. As the unfortunate ideas continues arising and they think these will solve the lack of foreign exchange and the lack of input into the system. However, they are not thinking straight and unlocking new scary scenarios. As they are now trying to shield the Bond-Notes, get them into the digital transactions of the RTGS Dollars, which would hopefully get more funds into the system. It might infuse more funds, as these are returning and become taxed by the RTGS taxes. That is surely securing the values and lack of trust in the Bond-Notes, which now will be transferred to the RTGS combined with the RTGS Dollars. That later can be changed again into the US Dollars. That shows the weakness of the whole system. Just like it was with the Bond-Notes alone.

The RTGS Dollars will be devastating as the launch of Bond-Notes. This is just another storm in a glass. Now, the state and republic can just await another hurdle. The RTGS Dollars will be as hectic or maybe even more than Bond-Notes. Even if people are familiar, the reality is that US Dollars have been the saving grace and even civil servants wanted their salaries paid in that.

Therefore, the current future is the new digital currency, the RTGS Dollars will be a rocky road. How it will be? Who knows? But the launch of Bond-Notes was a mess, this will surely be no different… Peace.

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Opinion: Tendai Biti is another casualty of the reign of Mnangagwa!

If your where thinking there was coming a new Zimbabwe in November 2017, you where wrong, we’re all wrong. The goblin, Robert Mugabe might not be in office in his advanced age, but his henchmen and his military leadership is there. Therefore, the ZANU-PF isn’t acting better. They are even more retaliating heavier against the opposition.

The latest casualty is Movement for Democratic Change – Alliance (MDC-A) own Tendai Biti, who has been a vocal critic of the regime. He was last year because of the Post-Election Violence. As he tried to flee to Zambia for asylum, the authorities retrieved him and deported him back to Zimbabwe. They “assisted” him back for investigation into the Post-Election Violence, that rocked the capital on the 1st August 2018.

However, what has happen today is an extension of the actions of the authorities last year. They are continuing to pursuit unhappiness for the opposition leader.

Which said this on the 31st August 2018 after the polls:

The results show beyond reasonable doubt that we have won this election and that the next President of Zimbabwe is Advocate Nelson Chamisa. These results were extrapolated from V11 forms that in some cases were posted outside posted outside polling stations in compliance with the law and in some cases handed over to our candidates’ agents in compliance with the law. We now hope that the Zimbabwe Electoral Commission (ZEC) will follow its Constitutional and legal obligation defined in the Electoral Act of formally announcing the result that is consistent with what we have gathered through our own parallel voter tabulation process. As you know we set up command centres in every constituency…” (Xaxa – ‘Nelson Chamisa Has Won Election And Must Be Sworn In: Biti’ 31.08.2018, link: https://news.pindula.co.zw/2018/07/31/nelson-chamisa-has-won-election-and-must-be-sworn-in-biti/).

Because, the Opposition leader said this at the Press Conference on the 31st August 2018 at the Morgan Tsvangirai House in Harare. He has gotten into legal jeopardy, as his words are used against him. As the challenge of the election and the polls are contended. Since, the state and regime is going after him for saying it. It touched a nerve, as they are taking way his rights to say or announce results, which is not done by ZEC. That is what the state says today to all citizens.

Today, the Harare Magistrate Gloria Takundwa charged him on two counts, where the lawyer broke the Electoral Law. As he today either had to pay $200 or spend a week in jail. So, he was found guilty of crimes. The Second count, which is yet not fixed is where he could spend 6 months in jail.

This is all because he said Chamisa won, instead of Emmerson Mnangagwa, a President incumbent who also said this on the 31st August 2018: “Good morning Zimbabwe, I am delighted by the high turnout and citizen engagement so far. The information from our reps on the ground is extremely positive! Waiting patiently for official results as per constitution” (Takunda Shumba – ‘ED Mnangagwa claims victory? Chamisa warned elections could be reversed, rigged’ 31.08.2018, link: https://zwnews.com/ed-mnangagwa-claims-victory-chamisa-warned-elections-could-be-reversed-rigged/ ).

So, we can see that Mnangagwa was allowed and got into no issues proclaiming victory. He came with an online video on the same day as Tendai Biti said his peace at a Press Conference. This again, shows he different use of law and how it always sticks directly to the MDC-A, but ZANU-PF gets off the hook.

Well, we know that this regime is a type that retaliates and is vicious. That the ZANU-PF has shown, again and again. This is just another one, who is picked out and shown as political target by the regime. Because, the state are not initiating anything against the President or even a warning for his words about this, but Tendai Biti is fair game. Peace.

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