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Will new John tame Zim inflation?

Dr Mushayavanhu will present his maiden Monetary Policy Statement (MPS) amid a tough operating economic environment due to the sustained depreciation of the Zimbabwe dollar.



A HERCULIAN task today awaits the recently appointed Reserve Bank of Zimbabwe (RBZ) Governor Dr John Mushayavanhu, when he introduces new monetary policy measures aimed at stabilising the volatile domestic currency and tame rising inflation.

Dr Mushayavanhu will present his maiden Monetary Policy Statement (MPS) amid a tough operating economic environment due to the sustained depreciation of the Zimbabwe dollar.

The local currency continued to depreciate faster, both on the formal and parallel market.

According to the Confederation of Zimbabwe Industries, the domestic unit had lost more than 49 percent of its year-opening value on the formal market and 30 percent on the parallel market since January.

In a bid to restore long-lost confidence and avoid speculation in the country’s financial system Mushayavanhu yesterday publicly declared the assets held by the apex bank.

It was revealed that the RBZ has 2,6 tonnes of gold valued at US175 million and other precious minerals as well as US$300 million cash reserves.

Analyst are  anticipating  that the new RBZ Governor, will pronounce measures that will  restore the value preservation function for the domestic currency.

During the first Cabinet meeting in February President Mnangagwa in February hinted at a structured currency.

Before his latest appointment, Mushayavanhu was group chief executive officer at First Banking Corporation (FBC) Holdings Limited, which owns FBC Bank as its subsidiary.

He is also a former president of the Bankers Association of Zimbabwe.

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Mnangagwa approves Starlink Zim operations

In this vein, I’m pleased to announce that I have approved the licensing of Starlink by POTRAZ to provide advanced internet and related digital processing services in Zimbabwe through its sole and exclusive local partner, IMC Communications (Pvt) Ltd.




PRESIDENT Emmerson Mnangagwa’s government has licensed Starlink to operate in Zimbabwe.

The following is Mnangagwa’s announcement on his official X handle today.

One of the strategic pillars that anchor the 2nd Republic’s developmental agenda under Vision 2030 is innovation, science and technology. Prioritization of the digital economy and the emerging importance of technology in our day to day activities requires Government to lead from the front in providing an environment where investment in technology is promoted.

In this vein, I’m pleased to announce that I have approved the licensing of Starlink by POTRAZ to provide advanced internet and related digital processing services in Zimbabwe through its sole and exclusive local partner, IMC Communications (Pvt) Ltd. Starlink @Starlink is a Low Earth Orbit (LEO) Satellite operator wholly owned by global conglomerate Space X led by promiment multi-billionaire @ElonMusk.

The entry by Starlink in the digital telecommunications space in Zimbabwe is expected to result in the deployment of high speed, low cost, LEO internet infrastructure throughout Zimbabwe and particularly in all the rural areas. This will be in fulfillment of my Administration’s undertaking to leave no one and no place behind. The investment confidence expressed by Starlink in Zimbabwe’s telecommunications infrastructure also dovetails with the 2nd Republic’s mantra, “Zimbabwe is open for business”. I encourage more investment by foreign conglomerates in Zimbabwe as we are an investment destination of choice.

I take this opportunity, on behalf of the Government of Zimbabwe, to congratulate IMC Communications (Pvt) Ltd and Starlink on this commendable milestone aimed at revolutionizing the digital and communications technology landscape in Zimbabwe. Investments of this magnitude and strategic importance represent the cornerstone for achieving the 2nd Republic’s objective of having a fully digitalized, upper-middle income economy by 2030.

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Fly Emirates To Dubai This Summer and Unlock Exclusive Offers Including Access To The City’s Most Exciting Experiences




  • Visitors to Dubai can gain free access to key attractions with a return Emirates ticket this summer
  • Customers with a boarding pass can access discounts and rewards via My Emirates Pass.

Harare, Zimbabwe, 22 May 2024 – Emirates, which flies daily from Harare to Dubai via Lusaka, has launched great offers for holidaymakers travelling to Dubai this summer. With a return ticket, all Emirates customers can enjoy complimentary access to some of the city’s top attractions, ensuring an exciting summer without breaking the bank.  

Moreover, Emirates passengers flying to, through, or back to Dubai can leverage their boarding pass to access exclusive discounts at a wide range of retail, leisure, and dining establishments, as well as renowned attractions and luxury spas throughout Dubai and the UAE.  

From thrilling adventures to irresistible shopping experiences, there’s something for every traveller to enjoy. 

Create a summer of memories with Emirates  

Running from 22 May 2024 to 11 June 2024 and valid for travel between 25 May 2024 to 31 August 2024, this fantastic offer includes access to The View at The Palm, AYA Universe, Dubai Parks and Resorts and Wild Wadi Waterpark. 

Whether travelling alone, as a couple, a group of friends or as a family you can make the most of you Dubai summer escape with access to the following unforgettable experiences: 

  • Dubai Parks & Resorts – This summer Emirates is giving travellers the opportunity to claim complementary admission to one of the premier entertainment parks, of their choice. Embark on an epic footballing story at Real Madrid World, or let your inner child run free at either Legoland Dubai or Legoland Waterpark or bring your favourite Hollywood film to life  at Motiongate Dubai.* 
  • Wild Wadi Waterpark – Cool off this summer in the spectacular Wild Wadi Waterpark. Whether you are looking for a relaxing cruise on the lazy river or want to get your adrenaline pumping on the waterslides, there is something for everyone.   
  • AYA Universe – Open your mind and prepare experience the natural beauty of a mysterious cosmos at the AYA Universe. This experimental entertainment park will transport you to wander and wonder through the vibrant world enfolded within its chambers. Be prepared to play, drift and dream through observatories full of stars, roam gardens blooming light and traverse rivers that bridge the infinite at this interactive exhibition. 
  • The View at The Palm – Enjoy stunning views of Dubai’s iconic skyline at this Palm Jumeirah Palm Tower this summer, without charge when you fly with Emirates. At 240 metres high, The View gives you the perfect place to enjoy a panoramic view of Dubai, taking in its iconic landmarks. 

Passengers simply need to apply the code ‘EKDXB25’ when purchasing flights from or on the Emirates app to claim a one-time complementary entry code for each venue for all passengers in the booking. Alternatively, if booking through travel agents or Emirates ticketing offices or Emirates contact centre, passengers will need to email detailing their PNR number, arrival date in Dubai, contact phone number and all passenger names to claim their unique access codes.  

My Emirates Pass 

To add to the excitement, customers travelling over summer can indulge in discounts and rewards via My Emirates Pass, guaranteeing you get the most out of your summer. Starting from 1 May 2024 to 30 September 2024, My Emirates Pass promises to elevate customers’ summer adventures in Dubai via a range of exclusive offers.  

Whether it’s Dubai’s epic water parks or stepping out onto the world’s highest observation deck at Burj Khalifa At The Top, visitors can make the most of Dubai’s bucket-list attractions this summer with discounts on admission tickets.  

Simply present a physical or digital boarding pass and a valid form of identification at participating venues to access the deals and discounts. 

If you checked in online and downloaded your mobile boarding pass to the Emirates App or Wallet, remember to screenshot it to present at participating venues as it will disappear from your apps once you’ve landed. 

Return of Dubai Summer Surprises 

Dubai’s Summer Surprises returns this summer that will delight, thrill, and excite visitors of all ages. Across 65 days, there will be unbeatable shopping deals, star-studded concerts, and incredible entertainment.  Use My Emirates Pass and enjoy Dubai Summer Surprises at the same time when you fly to Dubai from 28 June 2024 to 1 September 2024.  

Meanwhile, for those looking to dip their toes into world-class luxury, Dubai’s shopping and dining experiences will offer the perfect setting for you to unwind this summer.   

To enjoy summer in Dubai for less, see all My Emirates Pass offers by visiting:

Get the most out of your summer with Emirates 

From indulging in some of the world’s very best hospitality offerings, to action packed family days, Dubai has something for everyone this summer and can now be enjoyed for even less with Emirates: 

  • Dubai Experience: Customers can browse, create and book their own customised itineraries including flights, hotel stay, visits to key attractions, and other dining and leisure experiences in Dubai and the UAE, through Emirates’ Dubai Experience platform, and enjoy even more unique benefits. 
  • Skywards Partners: Members of the award-winning loyalty program, Emirates Skywards can earn Miles with our worldwide partners like hotels, airlines, car rentals, retail and banking. Members can spend these Miles on reward tickets, upgrades, or even tickets for concerts and sports events. Learn more about Emirates Skywards here: While in Dubai, you can earn Miles with our partners across the city like Dubai Mall, Arabian Adventures, Emirates Holidays and more. 
  • Emirates Holidays/Vacations: Customers can book their holiday to Dubai through Emirates Holidays. All Emirates Holidays include flexible booking options. Whilst for even more peace of mind, Emirates Holidays’ dedicated 24/7 On Holiday Service team will be there to support holidaymakers for every moment that they’re away. When you book your holiday with Emirates Holidays, you receive bonus Miles on top of the Miles you would receive for your flight. 

For more information, visit Tickets can be purchased on, Emirates Sales Office or contact centre, or via travel agents. 

Emirates flies to more than 130 destinations, across six continents and currently operates daily flights from Harare and Lusaka  to Dubai.   

*Full terms and conditions can be found here: Attraction [The View at The Palm, AYA Universe, Wild Wadi Waterpark and 1 park access pass to Dubai Parks & Resorts (passengers can choose between Motion Gate, Legoland Dubai, Legoland Waterpark and Real Madrid World)] tickets redeemed under this offer are non-transferable, non-refundable, non-resalable and non-exchangeable for any other promotion, discount, ticket, or cash may not be combined with any other offer and are not valid towards previously purchased tickets. Tickets do not include any additional products, services, transportation, entertainment and/or food and beverage.  

  • The offer is available for new bookings made between 22 May 2024 to 11 June 2024, inclusive and cannot be claimed retroactively on existing bookings.  
  • Flight tickets must be purchased for return journeys. One way flight tickets will not be eligible for the Offer.  
  • Requests for this special offer must be made at least 96 hours prior to arrival. 
  • Groups (9+) are excluded from these deals 
  • Once passengers receive their access codes, these can be presented at the ticket desks at The View at The Palm, AYA Universe, Dubai Parks & Resorts and Wild Wadi Waterpark in exchange for one general admission, in Dubai, at no extra charge.  
  • The validity of the one-time access to each attraction is until 7 September 2024. 

About Emirates

The Emirates story started in 1985 when we launched operations with just two aircraft. Today, we fly the world’s biggest fleets of Airbus A380s and Boeing 777s, offering our customers the comforts of the latest and most efficient wide-body aircraft in the skies.
We inspire travellers around the world with our growing network of worldwide destinations, industry leading inflight entertainment, regionally inspired cuisine, and world-class service.
For more information see

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ZiG discourse ditches ideas, issues for political affiliation: Jonathan Moyo

This is a post from Professor Jonathan Moyo’s X account





ONE bane of recent public discourse in Zimbabwe is not only that it is never about ideas or issues but it is invariably about ‘good guys’ versus ‘bad guys’ – depending on their real or perceived political affiliation – but also that it entirely proceeds on a weird presumption that if you agree with or support something said by a prominent someone today, you must support or agree with everything they say thenceforth; and conversely, that if you oppose or disagree with something said today by someone prominent, you must forever oppose or disagree with everything said by that person from thereon.

The same scourge pervades public debate on and discussion of issues.

In Zimbabwe today if, for example, your position from the start is that it is a good and sound national policy idea to have the ZiG as a structured national currency backed mainly by gold and supported by a mix of other minerals along with forex reserves; then you must thenceforth never find anything wrong or concerning with or said or done about the ZiG currency.

Rather, so goes the strange logic, you must be permanently locked in a ZiG corner, and rot there until the end of the world.

And the flipside of this weird narrative is that if you started by criticising the ZiG currency from the time when it was launched by Dr (John) Mushayavanhu in his 5 April (Monetary Policy Statement) MPS, then you must remain a permanent critic of the currency, and you must never find or say anything good about it.

In the same vein, if you commend someone today because of something they have said or they have done about something notable or significant in the national scheme of things, you must not from that point onwards find anything to condemn about what that person says or does not only regarding the thing you commended them for earlier on, but regarding anything else they say.

By the same token the opposite holds, mutatis mutandis, such that if you start by condemning something said or done today by someone; you must not commend anything else subsequently said or done by that someone.

It is in these weird political circumstances that public discourse in Zimbabwe has become nauseatingly irrational, corrupt and rotten to the core; principally if not only because it is not about ideas or issues; but it is about presumed ‘good guys’ versus presumed ‘bad guys’, as seen from the spectrum of their political affiliation or even as seen on the grounds of which individual politician they support within the factions of the same political formations.

In terms of this template – which is the template of thoughtless noisemakers – if a ‘good guy’ says the wrong thing, that thing must become right; and if a ‘bad guy’ says the right thing, that thing must become wrong.

Witness how, using this thoughtless template, noisemakers have been falling on each, pretending that they are surprised when people like this writer who supported the ZiG as a viable national currency when it was launched; and who still support it today; took issue with RBZ Governor Dr John Mushayavanhu for his recent unfortunate and embarrassing remarks about the advisory role of a World Bank consultant in the adoption of the ZiG, and the importance or responsibility he attributed to that consultant, while painting the RBZ as having been largely clueless in the process.

The warped logic is that if you support the ZiG, you must support anything and everything that the RBZ Governor, the RBZ itself or even the government in general say or do about the ZiG.

 “You supported the RBZ governor and gave him kudos when he launched the ZiG on 5 April, you must now support his World Bank gaffe because you supported him for his MPS”.

It must be said that this kind of reasoning – if it is ‘reasoning’ at all – is not only irrational but it is a kind of nonsense which is also outrageously primitive.

There are no ‘ifs’ or ‘buts’ or two ways about this fact: it was plainly wrong for Dr Mushayavanhu to speak in the manner he did about the role of a World Bank consultant in the processes that led to the adoption of the ZiG, and it was worse for him to say the World Bank should have contributory liability and therefore should therefore shoulder a larger chunk of the responsibility for anything that might not be going as planned regarding the launch of the ZiG currency; supposedly because the Work Bank did more work, allegedly since the RBZ did not quite know what to do.

Be that as it may, this observation does not and cannot in any way, shape or form detract or subtract anything from the robust content in the maiden Monetary Policy Statement [MPS] delivered by Dr Mushayavanhu on 5 April 2024, in which he launched ZiG.

That MPS deserved the kudos given to it then by many including this writer, and deserves those kudos even today.

Furthermore, the observation that Dr Mushayavanhu’s World Bank remarks were wrong does not mean that there’s therefore any rational basis for any rational person to conclude that the unfortunate remarks necessarily vindicate any delusional nonsense that has been said or is being said by Zimbabwe’s detractors either about the 5 April MPS or about the ZiG currency that was launched in that MPS.

Nothing like that, whatsoever. Still further, and more critically, the wrong and unfortunate remarks made by Dr Mushayavanhu do not in and of themselves make him a bad guy, nor – and this is particularly important to understand – do the remarks make the ZiG a bad domestic currency.

It simply means the remarks made by Dr Mushayavanhu were wrong, misplaced and ill-advised.

As RBZ Governor, he should not have said what he said; his remarks were not just unfortunate, they were disastrous and potentially damaging to his position and to the institutional standing and reputation of the RBZ.

This fact had to be pointed out by supporters of the ZiG currency in the strongest and clearest terms with no holds barred, for Dr Mushayavanhu to take note without being mistaken or confused about anything; end of the story.

In this connection, Dr Mushayavanhu would be well advised to appreciate that – unlike the circumstances that surrounded the tenure of his last two predecessors, namely Dr John Mangudya and Dr Gideon Gono respectively, his RBZ governorship has come at a time of dramatically changed and rapidly changing national and regional situations, and global geopolitics, with new opportunities and challenges for Zimbabwe that have implications on Dr Mushayavanhu’s public communication approach and his engagement style within RBZ and with the Central Bank’s strategic stakeholders in the banking and financial services sectors in and outside the country.

Dr Gono and Dr Mangudya were ‘crisis RBZ governors’ during a time of extraordinary ‘crisis’ circumstances in the country triggered by crippling US-led western economic sanctions and coercive financial and geopolitical measures in which Zimbabwe found itself in December 2001 when the US legislated its hostility and regime change agenda in Zimbabwe under Zdera, and when subsequently the US designated the situation in Zimbabwe as posing a an ‘unusual’ threat to its national security interests; and when the US declared a ‘national emergency’ – which was tantamount to a declaration of war – to ostensibly deal with that alleged ‘crisis’ situation in Zimbabwe under draconian presidential executive orders that imposed horrible economic sanctions in March 2003, November 2005 and July 2005 which destroyed lives and livelihoods; the bulk of which were lifted only as recent as 4 March 2024.

There’s no need for rocket science to understand the critically dangerous circumstances of the state of Zimbabwe’s economy and society that necessitated the kind of frontline activist and interventionist communication strategies, and the type of public and stakeholder engagement adopted particularly by Dr Gono, but also to a considerable extent by Dr Mangudya.

Anyone who does not understand the clear and present danger posed to the country by those circumstances, will never understand anything.

The doctrine of necessity – regarding the survival of the motherland – informed the monetary and quasi-fiscal policies and strategic communication approaches adopted by Dr Gono and Dr Mangudya respectively, to defend and protect Zimbabwe’s sovereignty and economic survival in order to save the lives and to sustain livelihoods of Zimbabweans, as a matter of the country’s national and security interests.

Current and future generations of Zimbabweans owe both Dr Gono and Dr Mangudya separately, an untold debt of gratitude for their having been there and courageously risen to the call of national duty when Zimbabwe was at the crossroads, in the face of a clear existential threat that needed to be thwarted by being nipped in the bud.

But the national and regional situations, and the global geopolitics, have radically changed, there’s now a new situation in the country, the Sadc region and internationally very different from the situation that defined Zimbabwe’s economy and society; especially from March 2003 to March 2024, not least because of the revocation of the US sanctions executive orders on 4 March 2024 which, for all intent and purposes, coincided with Dr Mushayavanhu’s appointment as RBZ Governor, as some kind of ‘good’ omen.

In this regard, while Dr Mushayavanhu as the new RBZ Governor has a lot to learn from the experiences of Dr Gono and Dr Mangudya, as the two recent past governors under incredibly volatile times; he has even more to learn from the experiences of Dr James Kombo Moyana and Dr Leonard Tsumba who respectively preceded Dr Gono and Dr Mangudya; for the obvious fact that they laid the paradigm and culture of what it meant or how it was to be an RBZ governor in relatively ‘calm’ times, not dominated by hostile geopolitics and harsh and coercive economic sanctions seeking regime change in the country, during which it was possible to formulate and implement some degree of ‘pure’ economics using technical instruments of monetary policy.

Given the foregoing, the economic history of Zimbabwe is arguably best told with reference to the tenure of four substantive RBZ governors: Dr Moyana, Dr Tsumba, Dr Gono and Dr Mangudya whose terms in office define four discernible, critical and defining economic phases that the country has gone through, the most dramatic of which were the phases under Dr Gono and Dr Mangudya, respectively.

Notably, the transitions after the tenures of Dr Tsumba and Dr Gono were longer than should have been the case; hence Mr Charles Chikaura acted between May 2003 and November 2003 before Dr Gono assumed office; and Dr Charity Dhliwayo acted between December 2013 and April 2014 before Dr Mangudya commenced his tenure.

Back to the point, and it’s an important one, Zimbabwe is standing today and is able to reset and move forward because of the respectively extraordinary and, from a textbook point of view, unorthodox interventions pursued and implemented by Dr Gono and Dr Mangudya, without which Zimbabwe would have been a failed state in the literal or conventional sense.

Now Zimbabwe is on the cusp of a new economic phase so to speak — which is aligned with the tenure of the four substantive RBZ governors between 1980 and 2024 – the fifth one since independence, and the coincidence between this phase and the appointment of Dr Mushayavanhu is an opportunity for him to place his appointment and the task it implies within a historical context that is not a ‘business as usual’ proposition.

Unlike Dr Gono and Dr Mangudya, Dr Moyana and Dr Tsumba did not find themselves working under extraordinary circumstances requiring extraordinary measures, equivalent to mending a ubiquitously leaky roof in the middle of heavy rains marked by a violently thunderous hailstorm. No.

They were able to work as professionals, meaning as economists, not as political technocrats; wherein issues of the day were amenable to the management through the subtleties of time, space and the environment using the strategy and communication not of daily public speeches or public relations statement or breakfast meetings with all and sundry; but communication via monetary policy instruments and institutional representation of the RBZ through the deputation and delegation of the RBZ staff which allowed Dr Moyana and Dr Tsumba, respectively, to take a backseat as the voice of last resort.

So it is that as RBZ Governors, Dr Moyana and Dr Tsumba were not known by every Jane, Mary, Tom, Dick and Harry out there; because they were not visible governors like politicians; they did not have common names or faces in the public domain who would brawl with real MPs or social media MPs who specialise in making noise for its own sake.

Even when one googles Dr Moyana and Dr Tsumba today, not many of their pictures or images or even articles.

This is because they kept away from the glare of public space, they spoke publicly not on more than five or so occasions over 10 years.

But, and this is the crucial point with learning implications for Dr Mushayavanhu, their presence was of course very strong and it was felt daily in the various markets that make up the economy and society, through their monetary policy instruments.

Dr Mushayavanhu can rest assured that he will not be able to deal with the ‘trust deficit” issues that he has publicly spoken about, nor will he be able to restore the confidence of the public or the markets by making press statements or speeches or having breakfast meetings all over the place, where the temptation to shoot from the hip is always high and is invariably irresistible.

The task might be difficult, but the plain fact is that the language that Dr Mushayavanhu needs to speak is not what he has been speaking, rather, it is the one which used to be spoken by Dr Moyana and Dr Tsumba; that is the language only spoken through the instruments of monetary policy.

His social media detractors do not know or understand that language of instruments of monetary policy; but of course, the markets and the stakeholders in the banking and financial services sectors know and understand that language very well.

There are two public areas that Dr Mushayavanhu should avoid, which were also avoided by Dr Moyana and Dr Tsumba during their tenure: public relations and politics through the media of any kind; and law and order engagements under which the RBZ threaten the arrest of any economic player – such as money changers or retailers – for currency crimes.

Criminology is a law and order responsibility best left to the Zimbabwe Republic Police in particular, and the security sector in general; criminology has nothing to do with monetary policy, which is the purview of the RBZ, led by its governor.

 All told, RBZ must stay the course outlined in the 5 April 2024 MPS. The rest is history!

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