Zimbabwe News and Internet Radio

Mnangagwa rails against ‘economic saboteurs’

BY VENERANDA LANGA

President Emmerson Mnangagwa yesterday described reports of alleged exchange rate manipulation, which also involved his top ally Kudakwashe Tagwireyi, as acts of economic sabotage, which must not be tolerated in the country.

President Mnangagwa consoles Mr Kudakwashe Tagwirei while flanked by Vice President Constantino Chiwenga before the burial of the businessman's father, Sekuru Phineas Tagwirei, in Shurugwi yesterday. - (Picture by John Manzongo)
President Mnangagwa consoles Mr Kudakwashe Tagwirei while flanked by Vice President Constantino Chiwenga before the burial of the businessman’s father, Sekuru Phineas Tagwirei, in Shurugwi in 2018. – (Picture by John Manzongo)

Mnangagwa said this in Parliament to Zanu PF legislators after their MDC counterparts had walked out on him, and during his delivery of the State of the Nation Address, which coincided with the official opening of the Second Session of the Ninth Parliament.

The central bank recently froze accounts belonging to Tagwireyi’s Sakunda Holdings and its sister companies, Access Finance as well as Spartan Security and Croco Motors, among others to allow for investigations by RBZ’s Financial Intelligence Unit over allegations of illicit financial deals.

“I am encouraged by the nation’s positive response to the currency reforms which we have embarked on, and government is equally-pleased with the relative stability of the exchange rate over the past eight weeks,” Mnangagwa said.

“However, last week’s events of exchange rate manipulation, amounts to economic sabotage and should not be tolerated. We all need to adhere to the rule of law and foster discipline at all levels.”

Mnangagwa said he was aware that Zimbabweans were suffering due to the economic problems bedevilling the country and those caused by the government’s austerity measures.

But he claimed that the suffering will come to pass as he had inherited an already bleeding economy which was going to take time to sort out.

“Government is fully aware of the challenges faced by the public in accessing. NewsDay