Latest News Editor's Choice

News / National

Mnangagwa pleads with Diasporans

by Staff reporter
22 Apr 2019 at 17:16hrs | Views
PRESIDENT Emmerson Mnangagwa has pleaded with the Diaspora community to return to Zimbabwe and assist with rebuilding the country's ailing economy.

Mnangagwa made the remarks while officiating at the country's 39th Independence Day celebrations where he also reiterated the need to scrap economic sanctions for the country to realise its full potential.

The 76-year-old Zanu-PF leader made an impassioned plea to long-suffering Zimbabweans to bear with the government as it moved "to address distortions" in all sectors of the economy.

"I am aware that a notable part of our citizens are currently spread across the Diaspora. The raft of reforms we have started should enable some of them to return home and assist in building our nation.

"On foreign relations, the engagement and re-engagement policy with all countries in the international community, based on mutual respect, is progressing well. Various strategic engagements have resulted in the signing of numerous bilateral cooperation agreements and concrete investments.

"We, however, call for the unconditional removal of the illegal and unjustified economic sanctions imposed on us so that our nation can realise its full developmental potential, free from any hindrances."

Zimbabwe's Independence Day celebrations coincided with a sharp increase in prices of basic commodities.

Apart from these steep increases, many private schools have also announced sharp hikes in their fees, further piling on the stress on already hard-pressed parents - especially those earning their salaries in RTGS dollars which have been seriously eroded by inflation which officially stands at a staggering 66,38 percent.

The price increases come on the back of what both business and political analysts say is a result of policy inconsistencies by authorities - following last week's surprising announcement by Finance minister Mthuli Ncube that the country would have a new currency within a year.

"I predict that by the end of June this year, it (the black market forex rate) will be 1:10 ... in other words people are becoming poorer and poorer.

"Bad economic mismanagement is theft of people's savings and this has been created by Mthuli ...," former Finance minister during the short-lived government of national unity (GNU), Tendai Biti, told the Daily News last Wednesday.

Biti was reacting to the increases in the prices of most basic commodities, including the price of bread which has risen from RTGS$2,20 to RTGS$3,50 - which business blames on the rising costs of production and the volatile operating environment in the country.

The hike in bread prices came days after millers had increased the price of maize-meal, in response to last week's hike by the government of grain producer prices.

Shipping vehicles from UK to Zimbabwe for less
Source - dailynews