The Movement for Democratic Change has accused President Robert Mugabe’s government of trying to bring back the Zimbabwe dollar through the back door and says the country will be de-dollarized by December.
Delta Beverages injected more than $4 million into its Beverages Sorghum Contract Farming Scheme (BSCFS) during the 2015/6 financial year and received about 15 675 tonnes of the grain, an official has said.
Zimbabwe will introduce local “bond notes” and impose limits on daily bank withdrawals as part of measures to ease an acute cash shortage in the country, central bank governor John Mangudya said today.
The Zimbabwe government has put $600 million worth of the country’s critical power projects in the hands of a middleman accused of drug trafficking, and awarded big contracts to companies that are bankrupt or facing corruption charges.
Zimbabwe’s largest local financial services group CBZ Holdings intends to increase contribution of its non-banking assets from 15 percent to 20 percent by the year 2019.
President Robert Mugabe is now isolated as he has been split on trying to rein in his wife, Grace, and her G40 without at the same time alienating himself from the military establishment that saved him from being kicked out of government in 2008.