Zimbabwe Business Watch : Week 3
January 16th, 2008
There are a host of challenges that face Zimbabwean business on a day by day basis, most of them serious. It is really a case of what crisis is foremost on their minds that would determine the priority. Following the Christmas period, decision makers are both annoyed and amused by yet another reversal in Reserve Bank Policy, the re-introduction of the $200 000 bearer cheque and a reversal of almost punitive measures governing RTGS payments. One large factory in Bulawayo remarked that it was the first time in their 50 year history that they had experienced an extended shut-down of almost 2 months. For those that have opened up business in January, massive power outages have wreaked havoc and this is a combination of faults remaining un-repaired for weeks (shortage of spares and forex) and deliberate load shedding. The Mozambican power utility has shut off supplies due to the non-payment of USD 26 million and Zimbabwe now only produces only about 1000 megawatts, about half of what it used to a few years ago.The Old Mutual Implied Rate rose to over 7700 to the USD and inflation is now being estimated as anything up to %50 000 and rising more rapidly than ever before as government fumbles with the economy powerless to do anything.
January 26th, 2008 09:59
What happened to your wonderful country? Of-course the country has not changed it is still beautiful the people that use it and abuse it are the ones that change. Mugabe is a disgrace, he has betrayed the people who fought and died to win independence for Zimbabwe. He needed to have disappeared at least ten years ago. I hope for all the people that are suffering Mugabe and his criminals will be destroyed in the very near future, and that Zimbabwe can be rebuilt into one of the leading countries in Africa. Good Luck