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Vexed queues: Zimbabwe’s new currency suffers chaotic start – RTL Today

Zimbabwe’s new gold-backed currency got off to a chaotic start with shops accepting only US dollars on Tuesday and vexed Zimbabweans queuing up outside banks for hours to access their savings.

The ZiG — short for Zimbabwe Gold — officially started trading on Monday, just days after it was announced it would replace the Zimbabwean dollar, which has tumbled in value over the past year, pushing inflation through the roof.

But many in the country were not ready for the switch.

Most banks had their systems offline on Tuesday, as they worked to transition them to ZiG.

This caused long queues outside some branches in the capital Harare, with hundreds of people waiting for hours to withdraw cash or access their funds.

“I spent the entire morning… waiting for the bank to be back online,” one grumpy account holder told AFP.

“No success. Stranded. They say they have no idea when they will be back online.”

– Worthless overnight –

The currency swap saw old banknotes — already of little value — become worthless overnight.

In the Harare suburb of Kambuzuma, children played in the streets with wads of cash.

Other notes laid abandoned on the pavements of the central business district, no one stopping to pick them up.

Getting hold of new ones was impossible.

On Saturday, the central bank said they were still being printed and would become available only on April 30.

Some people were left stranded as Harare public transport operators refused to accept Zimbabwean dollars, charging instead a pricey flat fare of $1 — double the usual local currency cost for short journeys.

“We are being shortchanged,” complained George Goliati, a commuter.

Many stores and street vendors similarly accepted only greenbacks, giving out biscuits or candies as change, due to a shortage of coins.

Julius Muza, a shopkeeper in the capital, told AFP he stopped accepting Zimbabwean dollars after noticing customers rushing to his and other shops to “dump” the old banknotes.

The central bank hopes the ZiG, which is backed by a basket of reserves comprising foreign currency and precious metals — mainly gold — would help stabilise the long-floundering economy.

The Zimbabwean dollar has lost almost 100 percent of its value against its US counterpart over the past year — leading to sky-high inflation, which after climbing well into the triple digits, was still at 55 percent in March.

Soaring prices have piled pressure on Zimbabwe’s 16 million people who already face widespread poverty, high unemployment and a severe drought induced by the El Nino weather pattern.

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Russia-Zimbabwe discuss ways to enhance bilateral relations and cooperation – Chronicle

Mthabisi Tshuma, [email protected] Amai’s Kitchen, a stand that showcased the philanthropic efforts of First Lady Dr Auxillia Mnangagwa to empower women, the girl child, youths, the elderly, and those with disabilities among other vulnerable groups, proved popular at the just-ended Zimbabwe International Trade Fair (ZITF). It attracted hundreds of visitors including foreigners. Notable among the […]

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All set for triple burial of national heroes – Chronicle

Blessings Chidakwa, Harare Bureau

PRESIDENT Mnangagwa is today expected to preside over the triple burial of national heroes, Cdes Nash Nyasha Dzimiri, Tsitsi Grace Jadagu and Brigadier-General Shadreck Vezha, at the National Heroes Acre, the second ceremony of its kind since independence in 1980.

Multitudes of people are expected to throng the national shrine, with transport having been mobilised from all provinces to afford people the opportunity to bid farewell to the national heroes.

The first triple burial was witnessed in 2021, when the then Foreign Affairs and International Trade Minister Lieutenant General Sibusiso Busi Moyo, Transport and Infrastructural Development Minister Dr Joel Biggie Matiza and former Zimbabwe Prisons and Correctional Services Commissioner-General Major-General Paradzai Zimondi were interred on the same day.

All died of Covid-19-related complications.

Yesterday, church services were held in honour of the three departed national heroes.

The memorial service for Cde Dzimiri was at his Mt Pleasant house, while that of Cde Jadangu was held in Chitungwiza. Brig-Gen Vezha’s service was held at Charles Gumbo Barracks (formerly One Commando Barracks) in Harare.

The respective families were at Charles Gumbo Barracks yesterday for formalities, where the bodies of the three national heroes lay in State ahead of burial today. 

Home Affairs and Cultural Heritage Minister Kazembe Kazembe said all was in place for the triple burial, with the programme scheduled to start earlier than usual.

“We expect mourners and dignitaries to be seated by 7am. President Mnangagwa will preside over the burials,” he said.

Minister Kazembe said Vice-Presidents Dr Constantino Chiwenga and Kembo Mohadi, as well as the Zanu-PF national chairman Cde Oppah Muchinguri-Kashiri, were also expected to be in attendance.

He said just like other national events, everyone was welcome to attend, including members of opposition political parties and the diplomatic corps.

Cde Dzimiri was born on June 24, 1958, in Shurugwi and died on April 16 after a short illness, while Brig-Gen Vezha died in a road traffic accident on the same day.

Cde Dzimiri joined the liberation struggle in 1976.

He survived Rhodesian raids that killed thousands of comrades at both Nyadzonia and Chimoio camps in 1976 and 1977, respectively.

He was later selected to undertake security and intelligence training at the famous Nanking Military Academy in China.

At independence, he was attested into the Air Force of Zimbabwe, before being transferred to the Zimbabwe National Army, which he left in 1981.

In 1983, while taking a walk in Harare, he had a chance meeting with President Mnangagwa, who was the then Minister of State Security.

He was subsequently recruited to join the intelligence service as a junior officer.

At the time of his death, he was the Central Intelligence Organisation’s director for investments.

Brig-Gen Vezha was born on August 10, 1961, in Chivi District.

After writing his O-level examinations, he joined the liberation struggle as a Zimbabwe African National Liberation Army (ZANLA) combatant and was trained at the front.

During the ceasefire in 1979, he was based at Dzapasi Assembly Point Base 2, where he underwent further military training.

In early January 1980, he was nominated to travel to North Korea for further military training at Kim Chong Ju Military Academy and Kim II Sung Military University until 1982.

On completion of military training in North Korea, he returned home and was attested into the Zimbabwe National Army on August 1, 1982.

He rose through the ranks to become Brigadier-General in 2018.

Cde Jadagu, who was born on March 11, 1943, in Murewa, succumbed to a short illness on April 18, the day the nation was celebrating its 44th independence anniversary.

She first trained as a police officer and later became a teacher.

During the liberation struggle, she was a war collaborator and after independence, she served as councillor for Ward 16 in Chitungwiza.

She was subsequently appointed special interest councillor in 2013 and senator in 2014.

Cde Jadagu started her political career when she was 17 years old in Mangwende Village, where her uncle (father’s brother) was a chief and an active member of ZAPU.

During the time, her family, led by Chief Mangwende, had a conflict with the Rhodesian native commissioner over national politics.

The whole family was then forced out of the village, which resulted in them seeking refuge in Old Highfield.

That is when she became a youth member of ZAPU, together with the late Cdes Sabina Mugabe, Tsitsi Munyati, Ruth Chinamano and many others.

The national heroine also served in various senior posts in Zanu-PF, including Women’s League Political Commissar in 1983, Central Committee member and National Consultative Assembly member.

Currently, there are 170 heroes buried at the national shrine, but 32 others who were accorded national hero status are buried elsewhere.

There have been four double burials conducted at the national shrine since 2016.

National heroines Cdes Victoria Chitepo and Vivian Mwashita were buried at the same time in 2016.

Then in 2017, national heroes Cdes Maud Muzenda and George Rutanhire were also buried simultaneously, as was the case with Cdes Ellen Gwarazimba and Cde Morton Paul Malianga in January 2021.

Last year, on Heroes Day, the country also witnessed the double burial of Ambassador Johannes Tomana and Brigadier-General Milton Siziba.

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WATCH: Zimbabwe International Trade Fair exhibitors raring to go – Chronicle

Sikhulekelani Moyo, [email protected]

THE 64th edition of the Zimbabwe International Trade Fair (ZITF) roars to life today with most of the exhibition stands complete.

Bulawayo will be the centre of attraction this week as it hosts the country’s annual prime trade showcase at the Zimbabwe International Exhibition Centre (ZIEC)

The trade expo, which runs until Saturday is running under the theme: “Innovation: The Catalyst to Industrialisation and Trade.”

The first three days are business days while April 26 and 27 are public days.

ZITF serves as a platform for showcasing technological innovations that can drive industrial growth and it encourages entrepreneurship by providing a platform for new businesses to connect with potential customers and investors.

Expectations are high that this year’s showcase will position local industry players to clinch major deals and expand their market.

Kenyan President, Dr William Ruto, will officially open the country’s biggest annual trade expo on Friday.

Chronicle Business yesterday toured selected stands and observed workers putting the final touches ahead of today’s opening of the ZITF.

In separate interviews, some of the exhibitors at the ZIEC said they were raring to go.

“This year, the Republic of Belarus will present the biggest stand it has ever made, we will have 31 companies represented from Belarus from different sectors, which include the food industry and pharmacy among others,” said Belinterexpo management specialist, Mr Sergei Gladyshev.

He said they brought tractors that are conducive to the Zimbabwean environment and easy to maintain.

“The aim is to help Zimbabwe to get techniques, which will help in boosting food security and nutrition,” said Mr Gladyshev.

He commended local farmers, saying they produce quality food, which matches international standards.

“I tasted some of the food in Zimbabwe and I can say Zimbabwe is on the right path. I understand you have resources, water, land, electricity,” said Mr Gladyshev.

Deputy Head of Mission for the Kenyan Embassy in Harare, Mr Lazarus Muganda said they are happy to be part of this year’s ZITF.

“We are very honoured as Kenya to have our President, His Excellency Dr William Ruto as the guest of honour who will officially be opening the event. Kenya is prepared to showcase the products and services at this ZITF,” he said.

“We are moving with the theme, which emphasises innovation and we are bringing goods that show how the products can contribute to the innovativeness of entrepreneurship in the current environment and we are very much prepared for the trade fair.”

ZimTrade Southern Region Manager, Mrs Jack Nyathi while some of the exhibitors were yet to fully set up, most of the SMEs under their purview had completed working on their stands.

“In terms of preparations, we are just about ready, just finishing up the final touches to our pavilion.

Our indirect exhibitors, the eight small and medium enterprises that we have this year are ready and raring to go,” she said.

“You find that in terms of products that we have on display this year, we cover a wide range, which includes processed foods, leather products and cosmetics, which are produced using locally sourced raw material like baobab.”

ZITF chief executive officer, Dr Nicholas Ndebele said the response has been good with 624 exhibitors confirming attendance, an increase from last year’s 565.

He said the city started receiving visitors last week.

Deputy Head of Mission for the Kenyan Embassy in Harare Mr Lazarus Muganda

“We as ZITF, the organisers of ZITF, are happy to inform the nation that all is set for the 64th edition of the ZITF. Exhibitors are still doing the final touches on their stands, ready to welcome visitors,” said Dr Ndebele. “We witnessed exhibitors working overnight in preparation for the event.”

Dr Ndebele said there has been a significant growth in terms of the number of international participants, which increased to 26 from last year’s 21.The ZITF Company has been given a mandate to lead the national branding efforts for Zimbabwe while promoting investment and economic growth.

Several high-profile meetings including the Diplomats Forum and Africa Connect Symposium will be held on the sidelines of the ZITF.

The main activities at the 2024 ZITF include the ZITF Welcome Cocktail; the ZITF International Business Conference, which will be officially opened by Vice President Constantino Chiwenga; the ZITF Charity Golf Challenge, ZITF Diplomats Forum, Connect Africa Symposium, which will be officially opened by Vice President Kembo Mohadi and the Tourism Night among others. — @SikhulekelaniM1

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