Chivayo calls Biti a “foolish guy”, says Zimbabwe currency is now stable

Controversial businessman Wicknell Chivayo has lashed out at former Finance Minister Tendai Biti saying he is a “foolish guy” and accused him of sending Zimbabwe into hyperinflation during the government of national unity (GNU) between 2009 and 2013.

In a video circulating on social media, Chivayo seemingly accuses Biti of failing to manage the financial situation in the country leading to the printing of big notes of ZWL1 trillion , the hallmark of the financial crisis.

Chivayo praised the current treasury boss Mthuli Ncube saying that, under his leadership, the currency is stable.

“Now the currency is stable. We have a new President, he just won the election recently. That 100 billion note, there was a foolish guy. His name was Tendai Biti, he was a Minister of Finance. He is a criminal lawyer representing car theft, no experience.

“So, now we have a proper professor, educated, the guy who understands finances in and out. So, the economy is going up. Those days are never coming back,” he said.

The businessman who was recently cleared in a case he was accused of defrauding the Zimbabwe Power Company (ZPC) US$5,6 million in the controversial Gwanda Solar project, claims Zanu-PF refused to unite with the opposition Citizens Coalition for Change (CCC) for the formation of a GNU.

“They actually tried this time again after they lost the election to have a unity government but as ZANU-PF we declined and said no no we can’t work with the useless opposition.

“So, gone are the days where such notes of 100 billion were around. Zimbabwe is moving to greater heights. We’re creating a Dubai of Africa,” he added.

Before being acquitted, Chivayo and his company Intratrek were facing three counts of fraud.

The state wanted him to answer to charges pertaining to the 100MW Gwanda Solar project, where he was accused of failing to perform in terms of the contract and thereby committing an act of fraud against the ZPC.