New currency not priority: Ncube

New currency not priority: Ncube 1

By Golden Sibanda Finance and Economic Development Minister Professor Mthuli Ncube said on Tuesday Government was not in a hurry to issue new Zimbabwean dollar notes/coins, but rather focused on the need to replace soiled bank notes and coins. Mthuli Ncube Professor Ncube told journalists in the capital, Harare, that priority was also on establishing the extent of demand and the amount of physical cash required by the market. The Treasury chief’s remarks follow recent media reports that Zimbabwe would soon issue out a new regime of bank notes and…

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‘Zim to issue new coins, notes’

‘Zim to issue new coins, notes’ 2

On Aug 21, 2019 32,791 Zimbabwe will issue new notes and coins soon to replace the country’s quasi currency (bond note) that was introduced three years ago in an attempt to counter a crippling shortage of cash. Mthuli Ncube and George Guvamatanga The return to a fully fledged local currency exchangeable outside the country’s borders will be backed by an undisclosed amount of foreign-exchange reserves, gold and loans, Finance Minister Prof Mthuli Ncube said in a recent interview in the capital, Harare. A Treasury spokesman on Monday said there was…

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Does Brother Mthuli Ncube live in Zimbabwe?

Does Brother Mthuli Ncube live in Zimbabwe? 3

Letter from America with KENNETH MUFUKA Hope is the expectation, against all rational considerations, that desires will be fulfilled miraculously. Ken Mufuka When the “new dispensation” was introduced in Zimbabwe, we hoped against past experience that its chief architect, Brother Professor Mthuli Ncube, PhD, would rise up to the occasion. Hope is that which drives and keeps us going. Related Articles It is now a year since the elections, and Ncube’s approach to what he calls belt-tightening, has moved me an incontrovertible conclusion: that the brother does not live in…

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Zim in new wave of price increases

Zim in new wave of price increases 4

BY MISHMA CHAKANYUKA Zimbabwe is witnessing another wave of massive price increases, following the presentation of the 2019 mid-term fiscal policy review, which are further decimating citizens’ incomes. Finance Minister Mthuli Ncube In the mid-term 2019 fiscal review announced on August 2, 2019, Finance and Economic Development minister Mthuli Ncube increased electricity tariffs threefold, and nearly did the same for fuel imports, hiked charges for State services and goods and also increased the money transfer tax for mobile money agents. This has further decimated salaries which remained unchanged amid a…

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A letter to 15 year old Mthuli

A letter to 15 year old Mthuli 5

On Aug 13, 2019 0 By Chenayi Mutambasere It is very apt that in this week as the young people of Zimbabwe are getting ready to lead the country into protest- a photo of a young Mthuli surfaces. Young Mthuli Ncube Suddenly I am looking at Young Mthuli with a different perspective. It’s hard at times to remember that this cabinet where young once, they too had dreams, hopes and ambitions. Mthuli in fact would have gone to school at a time when teaching was a very lucrative career. Related…

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Chaos in Parly over Mthuli budget

Chaos in Parly over Mthuli budget 6

BY VENERANDA LANGA There was chaos and drama in Parliament yesterday as tempers flared when Finance minister Mthuli Ncube and Justice minister Ziyambi Ziyambi ignored issues raised by opposition MDC Alliance MPs and Norton legislator Temba Mliswa (Independent) over illegalities in the 2019 mid-term supplementary budget presented last week. Finance and Economic Development Minister Professor Mthuli Ncube MPs abandoned the debate after they failed to get satisfactory answers on whether Ncube’s $10 billion took into cognisance the prevailing interbank exchange rate and accused Zanu PF of not taking seriously the…

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Biti describes Mthuli Ncube as a ‘trojan horse’ to new dispensation

Biti describes Mthuli Ncube as a ‘trojan horse’ to new dispensation 7

By Nigel Pfunde MDC vice president Tendai Laxton Biti has pointed out Finance minister Mthuli Ncube as the economy’s biggest enemy and an architect of retrogressive policies that do not champion economic growth, Zim Morning Post can reveal. Tendai Biti and Welshman Ncube In an exclusive interview with Zim Morning Post on Thursday, the firebrand politician described Ncube as “The Trojan horse to the regime” and with him in position the “political and economic vertigo” will remain in place. Contextually, a Trojan horse is a person with an intention to…

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Zimbabwe’s GDP to shrink as power price hikes pile on economic misery

Zimbabwe’s GDP to shrink as power price hikes pile on economic misery 8

By MacDonald Dzirutwe | Reuters | Zimbabwe’s economy will shrink this year due to a drought, foreign currency shortages and severe power cuts, its finance minister said, as he announced a threefold hike in electricity tariffs that will fuel already crippling inflation. Finance and Economic Development Minister Professor Mthuli Ncube Prices of basic goods and services have more than doubled since June, when the government renamed the RTGS currency as the Zimbabwe dollar, which has been sliding in value amid widespread shortages, including power, fuel, U.S. dollars and bread. That…

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Economy to contract in 2019, Ncube says as inflation figures deferred until 2020

Economy to contract in 2019, Ncube says as inflation figures deferred until 2020 9

HARARE – Zimbabwe’s economy is expected to contract this year due to a drought and severe power cuts, Finance Minister Mthuli Ncube said on Thursday, without providing a figure. The minister had initially forecast the economy to grow 3.1 percent in 2019. Addressing parliament while presenting a mid-term fiscal policy review, Ncube also said Zimbabwe would defer publication of year-on-year inflation until February 2020 following the adoption of a new currency in June. Prices of basic goods and services have more than doubled since June, piling pressure on citizens struggling…

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Ncube cornered over unexplained forex expenditure

Ncube cornered over unexplained forex expenditure 11

BY VENERANDA LANGA HARARE East legislator Tendai Biti (MDC Alliance) on Thursday last week demanded that Finance minister Mthuli Ncube explain to Parliament where the country’s foreign currency has been going given that the country is facing serious electricity shortages with government blaming the crisis on forex shortages. Zimbabwean Finance Minister Mthuli Ncube (File: AFP) Biti gave a breakdown in the National Assembly of how foreign currency since 2018 and 2019 had been accounted for, revealing how millions of dollars were being spent on unspecified payments by government. He said…

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