(Xinhua) -- The Zimbabwe government on
Wednesday reassured individual holders of foreign currency
accounts (FCAs) that they are still able to withdraw their money
in foreign currency despite the ban on use of foreign currencies
for transaction purposes.
This follows widespread
speculation on social media that such withdrawals are no longer
Addressing a post-cabinet media briefing on Wednesday,
information minister Monica Mutsvangwa dismissed the reports as
false, and insisted that government will not forcibly take away
individuals’ money in FCAs.
"We have to assure that not much has changed because those
who hold Nostro accounts can continue to maintain their
accounts. No one is taking away people’s money in FCAs,"
Announcing the new the new regulations banning the use of
U.S. dollars on Monday, Finance Minister Mthuli Ncube pointed
out that the regulations do not affect the opening or operation
of foreign currency designated accounts, otherwise known as "Nostro
FCA accounts", which shall continue to be designated in the
foreign currencies with which they are opened and in which they
are operated, or the making of foreign payments from such
Nevertheless, speculation continued to mount on the
withdrawal of hard currencies, causing further panic among
members of the public.
The Reserve Bank of Zimbabwe also weighed in, and insisted
that there had been no policy change on foreign currency
withdrawals from individual FCAs.
"Further to our directive, the Reserve Bank wishes to advise
that contrary to certain information being circulated on social
media, cash withdrawals by individuals are still permissible and
the policy position hasn’t changed.
"The current withdrawal limit for individuals remains 1,000
U.S. dollars per day.
Individuals are still able to withdraw their cash from their
individual accounts and banks are, in line with international
best practice, expected to apply the AML/ CFT principles," the
RBZ said on Twitter.
The Zimbabwe government on Monday announced regulations
outlawing the use of foreign currencies for domestic
transactions and re-introduced the Zimbabwe dollar as the sole
legal tender in a bid to stabilize prices and contain inflation.
Zimbabwe ruling party
urges win-win resolution of China-U.S. trade impasse
by Gretinah Machingura, Zhang
Yuliang HARARE (Xinhua) -- Zimbabwe’s
ruling ZANU-PF party on Thursday condemned the ongoing
U.S.-initiated trade war against China as unjustified and
unnecessary, urging the two sides to quickly find an amicable
and win-win solution to the trade impasse.
ZANU-PF party spokesperson Simon Khaya Moyo told Chinese
media in an interview that Zimbabwe was confident that the two
countries would soon resolve the impasse.
"We are quite confident that China with its resilience and
focus, will definitely succeed because this trade war is totally
unjustified and we feel as ZANU-PF that it is also unnecessary,"
Khaya Moyo said.
He accused the United States of backtracking on its trade
consultations commitments with China.
The U.S. allegations against China on theft of intellectual
property and forced technology transfer were false, while the
exorbitant and prohibitive trade measures were meant to derail
China’s economic progress, he said.
"The United States has so far been using the advancement of
China to initiate a trade war ... and therefore we are very
cognizant of the fact that because of this technological
breakthrough by China, the United States is not very comfortable
with this advancement," Khaya Moyo said.
"We are aware that the United States has unfairly accused
China of backtracking on its position, attempting to shift the
blame and taking the excuse to impose more tariffs on China and
we think this is unfair," he said.
Khaya Moyo said the two countries should remain committed to
dialogue to end the trade impasse, which he said has negative
impact on the world, particularly developing countries.
"When two elephants fight, it is the grass that suffers,"
said the spokesperson, adding that the trade war would also
worsen Zimbabwe’s situation, as it is currently suffering from
economic sanctions imposed by Western countries.
Zimbabwe was therefore hoping that trade consultations
between China and the United States would continue based on the
principles of mutual respect, equality and mutual benefit, Khaya
"So my message as a (political) party is that the United
States and China should continue to negotiate on a win-win
basis. No threats should ever be used as a yardstick because
once you do that, you must anticipate some response which may
not be in your interest," he said.
Zimbabwe pays U.S. $10
million dollars towards its Eskom debt
HARARE Zimbabwe (Xinhua) --
Zimbabwe has paid 10 million U.S. dollars out of
the 33 million dollars that it owes South Africa’s power utility
Eskom and is hopeful that the payment will help to unlock more
power imports from Eskom, senior government officials said
In addition, the government has cleared its 20 million RTGS
dollars debt to power utility ZESA, and would soon advance
another 20 million RTGS dollars which was expected to boost the
firm’s power generation capacity at a time when the country is
experiencing crippling power cuts due to surging demand.
Addressing a post-cabinet briefing, both Energy Minister
Fortune Chasi and Information Minister Monica Mutsvangwa
confirmed the payments.
"Cabinet was advised by the Minister of Energy and Power
Development that Treasury has now fully paid off government’s
debt obligation to ZESA, which was around RTGS 20 million.
A further RTGS 20 million is due to be advanced to ZESA by
Treasury, in order to boost power generation by the utility.
This, together with the payment of 10 million U.S. dollars to
Eskom, should help alleviate the current power supply
situation," Mutsvangwa said.
Chasi said government will monitor the money it has paid to
ZESA to ensure that it is not abused but used for power
He said Zimbabwe was negotiating with HCB of Mozambique for a
possible power supply deal after the presidents of the two
countries met recently.
Zimbabwe owes HCB of Mozambique 37 million U.S. dollars for
Zimbabwe says to set up
commission of inquiry into corruption allegations
HARARE Zimbabwe (Xinhua) --
Zimbabwean President Emmerson Mnangagwa said
Wednesday he will set up a commission of inquiry to investigate
corruption allegations, the sate-controlled Herald newspaper
This follows allegations of corruption raised against some
government officials by the ZANU-PF Youth League this week.
The Youth League accused the officials of fueling corruption
in the country, and challenged them to publicly clear their
names if they were innocent.
Briefing journalists after the ruling party’s politburo
meeting Wednesday, the party’s spokesperson Simon Khaya Moyo
said the politburo had endorsed the setting up of a commission
"His Excellency the President and First Secretary, in view of
this development, will constitute a commission of inquiry to
investigate the allegations presented by the Youth League, this
was unanimously endorsed by the politburo," Khaya Moyo said.
"Whilst the youth may not have followed procedure in issuing
their statement on Monday, there was urgent need to pronounce,
at all levels zero tolerance on corruption, this cancerous
malady called corruption must be eradicated once and for all."
Zimbabwe future at AFCON
hangs in the balance as players threaten to walk
HARARE Zimbabwe (Xinhua) --
Zimbabwe’s participation at the 2019 AFCON finals
in Egypt is reportedly hanging in the balance Thursday night
after a stalemate between the senior men’s team - the Warriors -
and national soccer governing body Zimbabwe Football Association
(ZIFA) over player dues.
State-controlled newspaper The Herald, which is accompanying
the team to the African showcase, said ZIFA had advised the
players they were contemplating the possibility of withdrawing
the team from the tournament.
This followed a number of meetings between the two parties
which had ended in stalemates.
The players had threatened not to resume training Friday
night unless they were paid the remaining 12,500 U.S. dollars
each by the same day.
According to ZIFA officials, 5,500 U.S. dollars would be paid
into their accounts on Friday.
That amount includes the 2,500 U.S. dollars ZIFA said they
had secured for each of the players, and the 3,000 U.S. dollars
for each of them, which was promised by the fundraising
That would have left the Warriors needing 5,000 U.S. dollars
appearance fees, and 3,000 U.S. dollars bonuses for the draw
against Uganda ahead of the match against the DRC.
However, things deteriorated sharply during the night and the
Warriors ended demanding their entire dues by Friday or they
would not train, the newspaper said.
Following the stalemate, ZIFA officials then sent spokesman
Xolisani Gwesela to check with the Confederation of African
Football (CAF) the cost of withdrawing from the tournament.
"Gwesela has been sent to establish how much it will cost to
withdraw from the tournament because of events that happened
today," sources said.
A number of players also confirmed they had told the ZIFA
officials they were ready to abandon camp and fly back home.
"We were called in and told of the developments about the
possible withdrawal from the tournament and we told them that we
were ready to go home because we believe they haven’t fulfilled
our contracts," one of the players said.
"We have an agreement with them and it has to be fulfilled."
The players said even though they played the match against
Uganda, a chunk of their appearance fees, 2,500 U.S. dollars had
not been paid.
It also emerged that players Tino Kadewere and Tafadzwa
Kutinyu were set to be sent home as a disciplinary measure after
they fought in camp. Kutinyu is currently not playing in the
tournament after sustaining an injury during training.
Midfielder Kuda Mahachi was also set to be sent home for
allegedly violating the team’s disciplinary code when he went on
social media to question why he was being sidelined from
Zimbabwe face the possibility of being banned from a number
of AFCON finals, in what would be a huge blow to the next
generation of its footballers, if the team pulls out of the
on-going tournament, the paper warned.
The team still has a chance to progress to the knockout stage
of the tournament if it wins convincingly against DRC following
a 1 -1 draw with Uganda on Wednesday and a 0-1 loss to hosts
Egypt in the opening game last Friday.
At least 16 die in
Zimbabwe road crash
HARARE Zimbabwe (Xinhua) --
At least 16 people died in a head-on collision
between a commuter omnibus and a haulage truck about 100 km
south of Harare on Friday, police said.
The crash occurred in Featherstone on the Harare-Masvingo
highway when the truck driver swerved to the opposite lane,
after another bus travelling before him abruptly stopped, and
collided head-on with the commuter omnibus, police spokesman
Paul Nyathi told state-run news agency New Ziana.
Sixteen people died on the spot, he said.
The number of the injured was still unknown.
The Harare-Masvingo highway is highly prone to accidents due
to its poor state and heavy traffic.