The unfolding tragedy that Zimbabwe, the region and our continent face due to a second but more vicious Coronavirus assault is comparable only to a nuclear war. It is impossible, if not naïve, to calculate the damage that this pandemic inflicts on our lives. Zimbabwe and Africa particularly suffer a higher, if not intractable risk due to fragile economy and tentative democracy. Our countries expect permanent damage caused by pandemic lockdowns and restrictions in the absence of an effective vaccine – sooner rather than later.
Zimbabwe case aggravated by our population consisting mainly of women and youths, the lifeblood of our country’s eco-social system. These innocent citizens endure the most of 40 years of national misgovernance. Millions of otherwise productive women and youths turned into cross border traders, vendors, subsistence farmers and the unemployed. SMEs have potential to create safe jobs and income, but informal sector has little or no capacity to sustain deman
THE Foreign Currency Auction Trading System resumes today after the festive season break amid expectations the exchange rate will have less pressure as demand for forex is traditionally low during this time of the year.
The Reserve Bank of Zimbabwe (RBZ) closed the auction on December 21 as most companies had closed for the festive season.
In separate interviews, economic commentators said as the weekly forex auction resumes, they expect low demand for forex.
Less demand for foreign currency means that prices of goods and services will remain constant.
“Usually the demand for forex is traditionally subdued this month as some companies are still on Christmas and New Year holidays shut down,” said a financial market analyst, Mr George Nhepera.
Business Rejects Latest Strict Lockdown Restrictions
January 4, 2021
BUSINESS experts have rejected the latest round of strict Covid-19 lockdown measures reintroduced by the government this saying the restrictions are a blow to both formal companies and the informal sector.
The remarks come after Vice President Constantino Chiwenga Saturday evening reintroduced stricter lockdown measures, which come into full effect Tuesday, and will see all workers, save for essential services, not allowed to go to work during a 30-day period.
Under the new measures, only essential services will remain open with supermarkets being allowed to operate only between 8 am to 3 pm. Gatherings of not more than 30 people at funerals will be allowed, while weddings, funerals, gyms, restaurants, bars have been banned.
‘Boost Production to Take Advantage of AfCFTA’
January 6, 2021
Many African Countries
including Zimbabwe have pinned their hopes for economic revival on the African Continental Free Trade Area (AfCFTA) agreement that came into force on January 1, 2021.
The AfCFTA which was initially set to commence on July 1, 2020 but delayed due to the coronavirus seeks to boost intra-Africa trade.
As of December 2020, 54 countries had signed the agreement, while 34 countries have deposited their instruments of ratification, according to Wamkele Mene, the AfCFTA secretary general.
If implemented fully, the trade pact could boost regional income by 7 percent or US$450 billion, speed up wage growth for women, and lift 30 million people out of extreme poverty by 2035, according to the World Bank.