WATCH LIVE: Zimbabwe Billionaire Tagwirei increases his control over Mutapa Fund
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WATCH LIVE as Gambakwe looks at the the situation with the ZIG a day after the introduction of ZIG notes and coins. As usual, thee launch of the notes and coins has not been smooth. There have been shortages of cash in banks with long queues and no cash in the ATMs.
The authorities have failed to address questions around the new ZIG currency and there is consensus that the new currency will fail just the same way that others before it have failed.
We also look at the arrests and continued detention of foreign currency traders across the country. The courts in Harare have been failing to hear the cases of the arrested foreign currency dealers and their cases have been postponed to next week.
Please watch the video above this post for more details.
Topics
1. Only ZIG 10 available on the market. Currently there has been no higher denomination notes. The ZIG Notes and coins are available on the black market.
2. As expected the ZIG is trading lower on the black market.
3. The ZIG is not available in ATMs.
4. The destruction of value under Mnangagwa will not stop as he refuses to engage i dialogue.
5. The economy in Zimbabwe will not recover without dialogue.
6. Dr Clarence working with Gambakwe for the next month while he revives his channel.
7. Simbarashe Chinyemba leaving Kuvimba to join Mutapa fund as the CEO.
8. The percentage of Kuvimba that is owned by Tagwirei is not known and and the move by Chinyemba to Mutapa can be seen as a way of Tagwirei spreading his influence into the new entity.
9. Mutapa fund will be used for money laundering and movement of funds from Zimbabwe.
10. Kuvimba Mining was formed in 2020 with the amalgamation of several state-owned mining entities, among them Sandawana, Freda Rebecca, Bindura Nickel Corp, Zim Alloys, Great Dyke Investments, Jena Mines and Shamva Mining Company.
11. Kuvimba has in the past partnered with Mnangagwa’s Foundation-ED UNZA in providing five scholarships for University of Zimbabwe students undergoing Mining Engineering programmes.
12. Uebert Angel struggles to complete the Hippodrome building in Harare.
13. The building is now in use for various functions and is currently hosting beauty peagents and international conferences.
14. The Beethoven hotel is not yet started.
15. Zambia special forces performed a demonstration during the land forces summit in Lusaka.
16. Job Sikhala speaks against the dialogue between CCC and Mnangagwa.
17. Mnangagwa is always trying to avoid dialogue with Chamisa.
18. Job Sikhala will be speaking at the Geneva summit for Human Rights on the 15th of May.
19. Fadzayi Mahere shared a picture of her meeting with Aliko Dangote in April 2023.
20. Madzibaba Ishmael granted bail. Barred from attending church gatherings.
Conclusions
1. Zimbabwe just about to go through another extremely rocky period.
2. Mnangagwa resisting dialogue will be his downfall.
3. There is consensus that change will mostly be driven by events from within ZANU-PF.
