CONFEDERATION of Zimbabwe Industries (CZI) president Henry Ruzvidzo says the past nine months have been extremely tough for most companies, and expressed hope that the 2020 National Budget would bring about some relief in terms of market and currency stability.

BY FIDELITY MHLANGA

Finance minister Mthuli Ncube will present the National Budget on Thursday next week.

Industry is facing a plethora of challenges that include foreign currency shortages, power cuts, exchange rate fluctuations, policy inconsistencies and corruption.

“The last nine months have been trying for the industry. Commitment to the mono-currency must be clear. I think we know of instances when we have other sections of our economy insisting on payment in US dollars. This puts the local currency under threat,”Ruzvidzo said.

“The biggest challenge is fiscal deficit because we are not borrowing from outside, we are resorting to local borrowing through overdrafts and Treasury Bills to finance deficits. We hope the budget will address that.”

Meanwhile, the Ministry of Industry and Commerce says it has set up a ministerial advisory committee comprising private sector players to breathe life to the Zimbabwe National Industrial Development Policy (ZNIDP). Launched in June, the ZNIDP (2019-2023) seeks to turn the manufacturing sector into a technologically advanced, competitive and diversified industry by 2030.

“In the Ministry of Industry we set up the ministerial advisory committee, which comprises renowned private sector players working with our own ministry staff to translate the ZNIDP into a live outputs and outcomes driven initiative,” Industry minister Nqobizitha Mangaliso Ndlovu said in a speech read on his behalf at the financial indaba in Harare yesterday. The strategic objectives of the ZNIDP include facilitating sustainable growth of industry, development of new industries and the transformation and diversification of the local industry.

“I think we have reached a stage where collectively, in both private and public sectors, we need to focus our intentions on how we craft solutions to the known challenges so that we expend our energies more productively.

“There is a mix of short to medium-term policies and strategies that we wish to adopt in the ZNIDP to spur industrialisation, such as improving the business operating environment, mobilising funding for industrial development, supporting mining and agricultural sectors, enhancing research and development skills transfer as well as infrastructure development,” Ndlovu said.

The financial Indaba was held under the theme Driving towards 2030 economy anchored on production and exports.

MDC Alliance MPs who went to Parliament on a pro-poor campaign ticket were this week part of hundreds of parliamentarians who blew $5 million at the resort town of Victoria Falls in the name of pre-budget conferencing.

By Sibanengi Dube, Our Reader

Air tickets, five-star hotel rooms, three course meals, allowances and single malt whiskies seem to have taken precedence on the legislators’ list of priorities.

As to why other affordable venues were discarded in favour of Victoria Falls, one of the world’s most expensive venues, is difficult to imagine. Maddening poverty currently gripping Zimbabwe should have been used by the MDC to morally justify a boycott of the conference, while demanding a cheaper venue for the event.

Such superfluous expenditure came at a time State hospitals are operating with neither doctors nor painkillers. Medical doctors are pleading poverty to the extent of failing to raise busfares to go to work, while the government can’t afford to import even painkillers because of “sanctions”. The same government without money for painkillers then ropes in the MDC to join a week-long spending spree in Victoria Falls. If this is not madness, then one should assist me to find an appropriate term for it.

Zanu PF is being consistent here. It has nothing to lose by displaying a DNA which it has always exhibited since 1980. MDC Alliance parliamentary chief whip, Prosper Mutseyami, missed a political penalty shoot-out here.

Mutseyami should have declined to lead his colleagues to an opulent feeding trough, sponsored by starving and bare-footed taxpayers, who can’t even afford a satchet of coarse salt.

A three-star hotel or B&B only facility on the outskirts of Harare would have done the trick, than splashing taxpayers’ cash on parties, air tickets, cruises and crossborder shopping escapades.

Do these charlatans expect citizens to believe that only Victoria Falls is good enough to accommodate them as they carry out their parliamentary responsibilities? Only a fool would commit such resources to extravagance before even fulfilling a single essential on Maslow’s hierarchy of needs model.

The MDC is now skating on thin high moral ground for accepting an invitation to dip their fingers in the cookie jar in the name of attending parliamentary duties. These chaps are constantly testing the patience of the poor people. The late Morgan Tsvangirai’s parliamentary red brigade are short-minded and appear to have conveniently thrown away their scripts to make ends meet.

MDC MPs should by now have raised their profiles beyond the seduction of mammon, stipends or allowances. A $3 200 attendance fee, fuel coupons and air tickets were enough for MDC MPs to throw away their hymn books and start singing Zanu PF tunes.

What about all the election rhetoric of being pro-poor and keeping the Zanu PF government under check? This was a missed opportunity to show solidarity with the suffering population. They instead chose to enjoy the trappings of power.

Shockingly, one senior MDC chap I spoke to seemed convinced that the fruitless expenditure incurred was consistent with their “strategic” contributions at the conference. He believes that their contributions helped to put the interests of the poor in Finance minister Mthuli Ncube’s upcoming budget. Since when has Zanu PF started factoring in MDC contributions to the national agenda? Did the MDC MPs’ presence in Victoria Falls change anything?

One would have anticipated the MDC to push for a pre-budget consultative meeting around the country in the run-up to the budget presentation so as to get public input, instead of jumping at the slightest opportunity to nibble marinated fillet and sip cold beers and fresh drinks in a bushy resort as the poor famish.

THE MDC notes with regret and surprise the announcement by Reserve Bank of Zimbabwe that it will introduce a new currency next weeks.

MDC communications

This is indeed a shocking development, considering that since 2017, this government has essentially introduced and acknowledged the existence of five currencies.

The first currency was the multi-currency regime that it inherited from the inclusive government. The second currency, introduced by the present regime through an expansionary fiscal policy and the running of huge budget deficits since 2014, was the RTGS$ (Real Transfer Gross System), which essentially was fictitious transactional money that was only recognised locally.

Things would come to a head in December of 2017, when the central bank cemented the existence of the bond note (introduced in 2016) through a Statutory Instrument.

In February of 2019, the government officially introduced a new currency, through SI33/2019 called the RTGS dollar, which was initially pegged at an exchange rate of 1:2,5 against the United States dollar. On June 24, 2019, the government officially jettisoned a regime of multiple-currencies and adopted as the sole legal tender in Zimbabwe, its RTGS dollar, through SI142/2019.

Thus, this year alone, the government has introduced four currency regimes. That is to say the regime of multiple-currency and bond notes that operated before February 20, 2019 based on a parity exchange rate of 1:1.

Secondly, the formal introduction of the RTGS dollar at an exchange rate of 1:2,5.

Thirdly, the official demonetisation of the multiple-currency regime and the retention of the RTGS dollar as the sole currency in Zimbabwe.

Now, yet another currency is to be introduced.

Not only that, on the same day that RBZ governor announced his new currency, the Minister of Finance, at another forum, advised that government was considering the introduction of the rand.

POLAD, your silence when Zanu PF continues to abuse the people of Zimbabwe is astonishing. One of the latest cases of abuse is the distribution of food aid donated by the United Nations in a partisan manner, where the people ended up protesting against the hijacking of the programme by Zanu PF.

By Kennedy Kaitano, Our Reader

Zanu PF is so unashamed of its dirty way of doing things, and it starts from the very top with government officials lying to the people that it was government providing assistance to the needy people, while it is donors.

First was Labour and Social Welfare minister Sekai Nzenza, who told the world that government was assisting people, when in actual fact this assistance was coming from international donor agencies.

Once government claims ownership, Zanu PF automatically gives itself the licence to interfere with the distribution process because it is the ruling party. What the people know is that Zanu PF has long turned to be a ruining party.

Of course, you can expect that from Zanu PF. The big question is why are the leaders of political parties represented in Polad silent when such atrocities are committed? I also ask: Where are the President’s advisers when Zanu PF ministers lie about donor programme in a way that is meant to make people believe that government was doing something good? Is such corruption going to be dealt with?

One then tends to accept the argument that Polad members are just in it for personal benefit rather than correcting government’s political rhetoric.

It’s time Polad leaders are exposed for their failure to deal with matters they purport to be championing.

WOMEN Leadership Networks (WALANs) in Manicaland province organised two intergenerational coaching and mentorship sessions in Mutasa and Nyanga on October 31 and November 1, 2019, respectively.

Walpe

WALANs are women community-based leadership support structures, which were set up by Women’s Academy for Leadership and Political Excellence (Walpe) and Africa Women initiative for Development Economies (AWIDE) as part of capacitating women at local levels.

The sessions brought together aspiring women leaders and current business women and leaders.

The exciting platforms, which were attended by 100 participants, created opportunities for the women to exchange ideas and strategies on how to be effective leaders and role models.

Young women were grateful for the opportunity to learn from those who have walked the journey before them.

Those who intend to run for public office got to learn strategies to run an effective campaign from female councillors. And those who want to make it in the business world got tips from successful businesswomen, who have made it in the male-dominated arena.

The intergenerational dialogues shall continue every month as these women would meet and discuss various pertinent issues affecting them as women.

It was also encouraging to note that since the start of the programme, seven women who had been trained by the consortium on transformational leadership and social entrepreneurship have already taken up community leadership positions in their areas.

Patricia Mangemba of Mutasa, who went through the two trainings was, on October 30, nominated to be a member of the ward development committee.

Using the skills and knowledge acquired during the trainings, Patricia was supported and elected by fellow WALANs members, who received the same training with her.

This shows that if women are equipped with knowledge and information, their voices would be amplified and they can to take up leadership positions and be part of the decision making processes within their communities.

Walpe and AWIDE aim to have more economically empowered women taking up leadership by 2023.

IN September last year, I wrote suggesting that a substantial reward (US$1 000 at the time) be offered to whistleblowers reporting on people who tampered with electrical gear.

AIC

I also suggested that signs should be put up on transformers, spelling out the penalty for anyone caught tampering with the gadgets.

The signs should give value of the oil compared to the value of the transformer, educating would-be thieves and the public as to the implications of theft of transformer oil.

For example, how many households are affected and for how long the area would be without power before the transformer is replaced or if the transformer will ever be replaced, should all be factored into the jail sentence.

I suggest this because of the cost to consumers of losing their goods stored in deep freezers, buying alternative power sources like inverters, batteries and solar panels; and the huge loss to the nation in foreign currency buying a transformer or solar panels and batteries.

This is tantamount to economic sabotage and the penalty for tampering with ZETDC equipment should also include this element. Certainly, if the theft results in even one factory or farm being unable to operate, the thieves must be held to account for the economic losses suffered.

Last night, there were two incidents of cable theft in our area which is now causing untold suffering to hundreds of people in the area as well as stretching ZETDC manpower and finances.

As things stand, we are unsure if the cables will ever be replaced due to the lack of forex.

Surely it is worth everybody’s while to have a huge penalty and equally huge reward offered to anyone who can give information leading to the arrest and prosecution of these thieves.

The advancements in modern technology paved the way for several industries to market their products and services and create brand awareness for consumers. This includes the gaming industry wherein online gambling sites have progressed and continuously embarked on a digital footprint. To this day, online gambling is unceasingly catching the attention of several patrons all over the world.

IMAGE SOURCE: http://bit.ly/35mY3ob

Online gambling is convenient

Several industries that probed into the digital world paved the way for great conveniences for its users. This is also true for online gambling. It has become so popular all over the world because it became readily available to anyone anywhere. Master88 and several other sites allows players to enjoy casino games, even in handheld and mobile devices. Nowadays, it is no longer necessary to suit up and physically go to a traditional casino to experience the euphoria and the thrill of gambling. All you need is a reliable internet connection.

Bankable Cash

Online gambling caught the attention of many users because of several offers and promotions that rewards clients even after just signing up. While winning is one of the goals in gambling, you can already have an instant cash through sign up offers and promotions offered through online gambling. Moreover, online casinos tend to roll out frequent and bigger jackpots compared to traditional land casinos.

Security

Online gambling continues to leverage on the progress of modern technology by adapting encryption techniques that guarantee the safety of their patrons money-wise. Apart from the wagers and winnings, online gambling also ensures the safety of its users by safeguarding their information and private data. More often than not, third party access to online gambling sites are prohibited.

Visually Engaging Interface

Not only has online gambling sites utilized modern technology to improve its security, but it has also leveraged on these advancements to provide an interface that will engage users in the games. While it can be difficult to learn the ropes in a traditional casino, it can relatively be effortless to navigate your way through an online casino. The platforms of online gambling sites are usually user-friendly and easy to navigate. There are even tutorial videos dedicated to novice players. Additionally, the graphics of the games are already leveled up, offering the ultimate gaming experience.

Superb Experience

Apart from anyone being able to play anywhere, online gambling became so popular because users are able to play without any distractions. There are instances wherein noisy distractions in traditional casinos such as waiters coming up to ask for your orders may prove to be a disadvantage. This is especially true when you are playing with games such as blackjack or poker. Thereby, online gambling offers you the opportunity to play in a more peaceful environment where you can concentrate.

IMAGE SOURCE: http://bit.ly/2IE2AZT

To wrap things up, modern technology has opened up a world of convenience. You can have everything you need with just a tap of a button. This goes true for online gambling wherein you can enjoy the fun and entertainment it brings without even having to leave the comfort of your own homes.

BY MISHMA CHAKANYUKA

Old Mutual Zimbabwe has appointed Samuel Matsekete as the chief executive officer taking over from Jonas Mushosho with effect from January 1, 2020.

“Old Mutual is pleased to confirm the appointment of Samuel (Sam) Matsekete as the Group CEO-designate of Old Mutual Zimbabwe Limited (OMZIL).Sam will commence service on 1 January 2020 following the retirement of the current Group CEO, Jonas Mushosho at the end of 2019,” Old Mutual said in a statement.

Matsekete joins Old Mutual from First Capital Bank, where, he is currently the managing director and has led the successful transition of the bank from being part of the Barclays Group.

Before this role, Matsekete held the position of chief finance officer and also headed up the risk and governance functions that included credit, risk, legal and compliance.

Matsekete is a qualified chartered accountant and an associate of the Institute of Bankers, Zimbabwe. He completed an Executive Leadership Development Program run for Barclays PLC by Duke University in London and holds a master of business leadership degree from the University of South Africa.

Old Mutual’s Rest of Africa Managing Director, Clement Chinaka, said he is confident that Matsekete will bring the requisite leadership experience and career credentials to lead the business at a particularly challenging time.

“Matsekete was part of the team that set up Old Mutual Asset Managers, now OMIG, in Zimbabwe soon after demutualisation 20 years ago, so I am very pleased to be welcoming him back into the Old Mutual family,” Chinaka added.

Matsekete’s appointment comes at a time when the group has been conducting a rigorous internal and external recruitment process.

“This new appointment does come at a challenging time in Zimbabwe.

However, it is thanks to the strength of our leadership that we have weathered the storm and will continue to seize opportunities for growth. Matseketse can now build on the strong foundation we have in Zimbabwe to take the business forward,” Chinaka said.