By Godfrey Marawanyika | Bloomberg |
Zimbabwean President Emmerson Mnangagwa said banks and companies involved in local currency manipulation and unjustifiable increases in the prices of goods and services could lose their operating licenses.
The government has identified the entities responsible, the Sunday Mail cited the president as saying. The administration is devising methods to deal with those banks and companies, and the plans will be announced in due course.
“These economic players are not acting alone, they are being sent by foreign countries hostile to Zimbabwe to weaken our local currency,” Mnangagwa told supporters at a political rally.
The local currency officially trades at Z$155.14 to the US dollar but readily changes hands on the streets of Harare at Z$350.
The Zimbabwe dollar weakened 24% in the first quarter, while on the black market it depreciated about 20%. Annual inflation rose to 72.7% in March.
“We have a challenge in our economy, especially around prices and exchange rates,” the president said.
“We are working out a solution, we are now closing in on companies that are behind what we have been witnessing lately.”
Same as zanu pf official
So says the creator of the same problem. #EDIOT
And you should also lose your governing license that you stole.
Tau Binz Correct.
ED is forgetting history so fast, should we remind him what happens when you try to control prices.Implement sound economic policies leave industry to do the rest.Zimbabwe needs leadership that respect rule of law is that difficult?Investors will come and invest in commerce then Zimbabwe will find itself enjoying African market.This dictatorship tendencies does not work.
Peace R Muchemedzi you are trying to teach a hyena , new diet which is not of dry & rotten bones!I
You are wasting your time!
Peace R Muchemedzi you are trying to teach a hyena , new diet which is not of dry & rotten bones!I
You are wasting your time!
Madala you can’t control the economy by making empty threats it doesn’t work like that papa!I thought by now you could have learnt a thing or two but dololo !
Always a capenter blames his tools for his mistake
Economy is going waya waya ne Dambudzo 😭
Haaa iwee stop blaming th Nation fo your misdeeds and pointing fingers to innocent pple ,stop turning a deaf ear to whats happening in country through your Iron feast rule….Shame on u..disgusting and Parthetic
Wat about the president who knw wat he is doing can he lose his presidency as well?
Nyika inovharawo regai vaite zvavakaita macombi changamire ava
He says he dznt do
Panyo pake saskam uyu and the person advising him ari kugonera CCC… #registertovote
Ustaborn hwake in docial lyfe is not o be applied to economcs
Zvakaoma hazvo zvinhu zvikukwira kunge hameno hameno , RTGS redu ririkurohwa ne pace yema Change money
Why is ZERA increasing fuel price every week ?
Warning after warning
Munangwa siya basa kuchiri kuseni hauna mastrategy seamugabe vaita mutete mbavha dzako newe mauraya nyika
Mapiritsi anoshandiswa nedhara iri aaa kutomu pengesa
Uyu mudhara anofanira kuve chirichipoko chete andiwoni arimupenyu
Empty threats and utter nonsense as usual. Pathetic!
Tariro Ndoro do you think the hyena is making an empty threat to your child!
Be wary of the Taliban!
Mnangagwa and his son David Tarirai Mnangagwa, Mangudya destroyed financial Banking system in Zimbabwe. Musanyeperwe
Antonthy Boothe & his son is going to succeed him, just like North Korea!!
Ncagu Sbhamusogodo KaSibungusodaka Its you telling me that.
Antonthy Boothe you shall see!!
Ukaona mavakumanyisana nevanhu muma streets accusing them of economic manipulation ziva kuti madhakwa mukuru , man made economy wont work baba , chiiko nemi ma President eZimbabwe kurambira pazvigaro momirira embarrassment hamudzidzi makaita seiko ?
This hippo is out of control
Hazviitiki because vanhu vekuziva vanoita izvozvo
You are a mental case EDiot. Do you yourself earn or use local currency?