News about Zimbabwe that you can use
Indigenisation, the platform on which President Robert Mugabe won 61 percent of the vote last year and his party won more than two-thirds majority in Parliament, is likely to leave Zimbabweans poorer, according to a study just released.
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In Zimbabwe, the end of Robert Mugabe’s leadership of both his political party and the country is fast approaching. Ahead of the party’s congress in December 2014, where a new leadership is expected to be elected, pretenders to his throne have been taking advantage of his diminished resistance due to advanced age and failing health to openly position themselves for the succession.
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Zimbabwe’s platinum miners have been given 10 days- up to 18 January- to submit proposals for the establishment of a refinery in the country.
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Why no cash- Zimbabwe has found an easy scapegoat for the current cash shortage in the country. Foreign business owners, who have to comply with the country’s indigenisation regulations by today, are not banking their proceeds and do not pay tax. According to the National Indigenisation and Economic Empowerment Board, at least 90 percent of the foreign businesses that had applied for compliance with the indigenisation laws do not have bank accounts. They are also not registered with the Zimbabwe Revenue Authority. NIEEB chief executive Wilson Gwatiringa said: “This means they are not paying tax and that their money is not being accounted for in the banking system.” Some 800 foreign-owned companies are said to have applied for compliance. Reports have said as much as US$4 billion is circulating outside the formal banking system, in Zimbabwe.
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A haircut for US$20! Yogurt for US$5. And a coke for US$2. That is Zimbabwe. A country where the average wage is US$253 a month yet a two-week membership at a gym is US$60 and only a few years ago a teacher used to earn a mere 72 US cents.
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Mavambo Kusikle Dawn leader Simba Makoni says Zimbabwe’s leaders including President Robert Mugabe are doing nothing to curb corruption. Instead they are showing maximum tolerance and active encouragement of corruption.
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