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Showing posts with the label Zimbabwe's Economy

Zanu PF is a 'Thorn' in our governance flesh, Can i have a surgical blade?

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While the country was ululating in both directions, positive and negative, something troubling continues to happen underneath. The Cost of Zanu-PF's factionalism to the State and the Mirage of Mandatory restructuring.  It is common knowledge in modern statecraft that the architecture of the state also shows its governing philosophy. It is also common that a government that prioritises delivery builds lean, strong, agile, and cohesive institutions that are capable of coordinating policies without friction and bureaucratic hurdles. Conversely, an administration consumed by political survival and elite pacification fragments the state into redundant fiefdoms.  This observation, 'commentary, if you will', follows a recently published commentary by  Richard Runyararo Mahomva , in which he attempts to justify the redundant move on 263Chat: “Why Split the Ministries: Power Play or Strategic Mandate Restructuring?” The piece, like any other that precedes it, which are more o...

Zimbabwe's Move towards Gold-Backed Cryptocurrency

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On 28 April 2023, The RBZ Governor Dr John P Mangudya announced the Move towards Gold-Backed Cryptocurrency. This move is intended to address the severe economic challenges Zimbabwe has faced, such as hyperinflation and currency instability, restore confidence in its financial system and revive its economy. However, I argue that this move is not without risks and challenges and requires careful consideration of Zimbabwe's historical context and domestic capabilities. By examining past experiences and capacity limitations, I believe we can gain valuable insights into this ambitious move's potential implications and outcomes. The op-ed is structured as follows: Section 2 provides a brief overview of the concept and features of gold-backed cryptocurrency; Section 3 reviews the historical background and economic situation of Zimbabwe; Section 4 discusses the main benefits and drawbacks of adopting gold-backed cryptocurrency in Zimbabwe; Section 5 offers some policy recommendations ...