Categories: Stories

Who is right? Daily News or Gumbo?

According to the Daily News, Energy Minister Joram Gumbo lied to the nation when he said Zimbabwe had the cheapest fuel in the region.

At $1.38 a litre Zimbabwe has the most expensive fuel, it said.

Angola, an oil producer, had the cheapest fuel in the region at $0.52 a litre.

Mozambique had the second most expensive fuel at $1.12, followed by South Africa at $1.04, Namibia at $0.93, Swaziland at $0.92 and Botswana at $0.87, the paper said.

But who is right, the Daily News or Gumbo?

The Daily News is right if you buy the fiction that the bond note or electronic money and the United States are at par.

Gumbo is right if you buy the reality that that $1.38 electronic money or bond notes is now at most $0.46.

(319 VIEWS)

Charles Rukuni

The Insider is a political and business bulletin about Zimbabwe, edited by Charles Rukuni. Founded in 1990, it was a printed 12-page subscription only newsletter until 2003 when Zimbabwe's hyper-inflation made it impossible to continue printing.

Recent Posts

To go or not to go- Mnangagwa in a quandary

Zimbabwe President Emmerson Mnangagwa has repeatedly stated that he is not going to contest a…

November 25, 2024

ZiG loses steam, falls against US dollar for five consecutive days

The Zimbabwe Gold fell against the United States dollar for five consecutive days from Monday…

November 22, 2024

Indian think tank says Starlink is a wolf in sheep’s clothing

An Indian think tank has described Starlink, a satellite internet service provider which recently entered…

November 18, 2024

ZiG firms against US dollar for 10 days running but people still do not have confidence in the currency

Zimbabwe’s new currency, the Zimbabwe Gold (ZiG), firmed against the United States dollars for 10…

November 16, 2024

Zimbabwe among the top countries with the widest gap between the rich and poor

Zimbabwe is among the top 30 countries in the world with the widest gap between…

November 14, 2024

Can the ZiG sustain its rally against the US dollar?

Zimbabwe’s battered currency, the Zimbabwe Gold, which was under attack until the central bank devalued…

November 10, 2024