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Sunday, 5 May 2024

THE GOLD RUSH AND ZiG-ZaG - ZIMBABWE'S ECONOMIC TURMOIL EXPOSED – By Renee Langa

5th May 2024

As Zimbabweans, we are amid economic turmoil exacerbated by President Emmerson Mnangagwa's
poor and self-serving leadership.

The introduction of the ZiG currency, purportedly to address inflation, reflects a pattern of mismanagement and whimsical decisions by the ZANU-PF-led government. Market traders, transport operators, industry and commerce bear the brunt of these policies.

Facing uncertainty and having learnt lessons from the past, they are relying on more stable foreign currencies like the US dollar due to a lack of faith in the ZiG. In doing so they are potentially breaking “the law” and are prone to its wrath.

The introduction of the ZiG currency pegged to gold has failed to restore confidence due to several factors, including doubt about the quantity of the gold reserves.

The well-publicised Gold Mafia scandal and widespread smuggling of gold, with the tacit involvement of the First Family, other senior ZANU-PF officials, and cronies betray our trust. It highlights a pattern of governance that prioritises personal gain over the welfare of Zimbabweans, a fact that should not be taken lightly.

The incident involving Henrietta Rushwaya, President of the Zimbabwe Miner's Federation and a niece of President Emmerson Mnangagwa, who was caught with 6kg of gold bars in her handbag while travelling from Harare to Dubai in 2020, exemplifies the depth of corruption and illicit activities within Zimbabwe's leadership and mining sector and is a case in point.

This scandal directly implicates a prominent figure in the mining industry and reflects broader systemic issues of exploitation and abuse of resources for personal gain. The incident underscores the failure of leadership, including that of President Emmerson Mnangagwa, to curb rampant corruption and protect national resources for the benefit of all Zimbabweans. It highlights the urgent and immediate need for transparent governance and effective reforms.

Citizens grapple with the consequences of these failures in their daily lives. This economic instability extends to critical areas like health and education. People are dying prematurely because of a lack of well-equipped hospitals. Families are struggling to put food on the table, let alone pay school fees in US dollars, highlighting the profound impact of misguided leadership on everyday life.

It underscores the urgent need for sweeping reforms to restore accountability and rebuild public trust in leadership that has failed to meet its responsibilities so far.

The Economist's critique of 'miracle money' reflects not just his scepticism but a widespread doubt towards hastily introduced monetary measures that do not address underlying economic issues. Overall, Zimbabwe's economic woes reflect a systemic crisis of governance and accountability, undermining efforts to stabilise the country's currency and restore public trust.

As concerned citizens, we must demand accountability and work towards rebuilding trust in Zimbabwe's leadership and institutions. This brings the pertinent question of government legitimacy to the fore.

About the author
Renee Brenda Langa is a human rights activist based in the United Kingdom. She is the Secretary for Information & Publicity of the Midlands Branch of the UK Chapter of Restoration of Human Rights (ROHR) Zimbabwe.  She can be contacted by email at reneelanga378@gmail.com OR renee.langa@rohr-zimbabwe.org


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