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AMH is an independent media house free from political ties or outside influence. We have four newspapers: The Zimbabwe Independent, a business weekly published every Friday, The Standard, a weekly published every Sunday, and Southern and , our daily newspapers. Each has an online edition.
A teacher by profession, he had mastered the art of providing mathematical solutions to high school students who gave him the moniker Archimedes, after Archimedes, a Greek mathematician, and inventor from the ancient city of Syracuse in Sicily. Unfortunately, he was impotent to deal with the myriad of economic woes around his life.
TENDAI MAKARIPE HIS sustained rumblings and mumblings perturbed those close to him yet they could only sit and watch. It was clear as day that Tonderai Nyoni was a man in serious trouble.
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Like Okonkwo in Chinua Achebe’s masterpiece, things were falling apart. Nyoni had just received news that his father had prostate cancer at Murambinda Hospital, in his rural home of Buhera.
His government salary of ZW$30 000 which fetches about US$71 on the prevailing black market rate is not sufficient to handle his father’s medical bills.
Besides the uphill task of covering medical expenses, he has a wide range of expenses which include tuition fees for his three children, rentals, bills, food and transport, among others.
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Nyoni’s situation is not an isolated case but is being replayed in many localities across the country where the harsh economic environment compounded by a spiralling foreign exchange rate is fuelling serious economic security concerns.
The International Committee of the Red Cross (ICRC) defines economic security as the ability of individuals, households, or communities to cover their essential needs sustainably and with dignity.
Food, basic shelter, clothing and hygiene qualify as essential needs, as does the related expenditure; the essential assets needed to earn a living, and the costs associated with health care and education also qualify.
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This is mainly due to the parallel US dollar rate which continues on an upward trajectory while people’s salaries, mainly pegged in local currency remain stagnant.
What is painful among the economically insecure workers is that they do their best yet they have the product of their labour stolen. It is expropriated by those with wealth and power; by those who own the means of production.
The world that they have created is hostile to them; it stunts their lives and keeps them in misery, thus they are alienated from their own world, from the product of their own labour.
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What they are getting versus what the economy is demanding affects people’s ability to plan for the future as the situation has become seriously volatile and this has serious effects on people’s well-being.
“Worrying and anxiety about the future breed adverse health outcomes like mental health problems, heart diseases, and increased risk of obesity, including among children, ” said mental health researcher Nyasha Motsi.
Article 25 of the Universal Declaration of Human Rights which Zimbabwe is a party to provides that everyone has the right to an adequate standard of living: “… and the right to security in the event of unemployment, sickness, disability, widowhood, old age or other lack of livelihood in circumstances beyond his control.”
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However, the current economic situation is a violation of this right as it creates an environment where one is cushioned from various shocks of life.
While those in the formal sector are crying foul about poor salaries and how the foreign exchange rate is rendering their salaries useless, thought should be spared for those in the informal sector.
It is estimated that between 80-90% of Zimbabweans are engaged in informal economic activities, forming a preponderant number of economically insecure people.
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The majority survive through vending and are constantly engaging in cat and mouse chases with police and city officials who confiscate their wares.
Media and conflict resolution researcher Lazarus Sauti said peace, non-violence, and co-existence bring prosperity, lower inflation and more jobs. However, this is not the case in Zimbabwe.
“The spiralling foreign currency rate is affecting the prices of basic commodities in the country thereby threatening the economic and personal security of Zimbabweans. Without a doubt, the escalating rate is holding back socio-economic growth and causing instability. It is also widening inequality in the country, ” Sauti said.
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“In a move to arrest inflation in Zimbabwe, the government introduced the so-called raft measures. The government, through various platforms, is using different propaganda techniques to fool the citizens, but the bottom line is that propaganda cannot manage economies, ” he added.
“The surging rate and its effect on the prices of basic commodities is a danger to the uneasy ‘peace’ obtaining in the country, ” another peace and conflict resolution researcher, Simbarashe Namusi, said.
At a time of growing public discontent in the country, rebuilding trust hinges on allowing people to feel secure and hopeful about the future.
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According to the UN Department of Economic and Social Affairs, the massive uncertainty brought about by Covid-19 is likely to produce an even greater desire for security.
The desire for economic security is a powerful, universal sentiment that most people can relate to in this country. It is not only linked to poverty or disadvantage, but also to a growing gap between people’s expectations and their actual situation.
A 2019 report by the African Development Bank (AfDB) pointed out that Zimbabwe needs over $34 billion in the next 10 years to upgrade its infrastructure to achieve sustainable levels of economic growth.
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An ANC official and senior medical officer for Limpopo province spews Nazistic and hypernationalistic sentiments that go beyond the ideals of the medical profession against a stricken patient waiting to receive medical attention simply because the patient is Zimbabwean.
The increase in Reserve Money was primarily driven by growth in required reserves by ZW$351, 88 million and an increase of currency issued by ZW$121, 51 million.AMH is an independent media house free from political ties or outside influence. We have four newspapers: The Zimbabwe Independent, a business weekly published every Friday, The Standard, a weekly published every Sunday, and Southern and , our daily newspapers. Each has an online edition.
AUSTRIAN-BASED co-founder of Artivive, an augmented reality (AR) tool used in digital art, Codin Popescu is scheduled to visit the country for a number of workshops set for October 24 and 25 at the Italian Cultural Centre in Greendale, Harare.
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The workshops directed at bringing forward art in new media are being organised by Wada Collective, a group of young artists fronted by Chamunorwa Mararike, Dananayi Muwanigwa, Tamuka Chigeda, Colin Meda, Alfonso Masiyiwa and Sandiswe Buhle.
Wada Collective’s projects manager Mararike told Life & Style yesterday that the workshops are aimed at empowering artists practising classical art to embrace digital art will also be graced by an award-winning Italian illustrator.
“Locally many artists have not yet embraced the new technology, so we want to share as much information as possible through the workshops that will educate artists and aspiring artists above the age of 16 on current digital techniques in art creation including digital painting and augmented reality, ” he said.
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Mararike said areas to be covered include foundations of illustration and character creation, digital illustration techniques, foundations of graphic animation, advanced graphic motion graphics techniques, foundations of augmented reality and augmented reality techniques.
Artivive, the software co-founded by Popescu and Sergiu Ardelean in January 2017, is being used by more than 25 000 users exhibiting in 75 countries around the world.
It offers a new and innovative way for the audience to interact with exhibitions with visitors having to use only their own smartphones or tablets in order to experience the layer of augmented reality.AMH is an independent media house free from political ties or outside influence. We have four newspapers: The Zimbabwe Independent, a business weekly published every Friday, The Standard, a weekly published every Sunday, and Southern and , our daily newspapers. Each has an online edition.
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Government would like to assure the nation that it is not considering introducing another currency in the economy as reported in some sections of the media
BY MOSES MATENGA The Government of Zimbabwe has no plans to consider adopting a new currency and local currency remains the Zimbabwe dollar (ZW$), Cabinet has said.
The media quoted Wekwete as having hinted that government was looking into how cryptocurrencies could be used as a legal payment service.
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“Government would like to assure the nation that it is not considering introducing another currency in the economy as reported in some sections of the media, ” Information minister Monica Mutsvangwa told journalists during a post Cabinet briefing.
The nation is assured that Government is not considering introducing another currency in the economy as reported in the media. The local currency remains the Zimbabwe dollar (ZW$) and not cryptocurrency#postcabinetbriefing pic.twitter.com/w5eQhxeufM — Ministry of Information, Publicity & Broadcasting (@InfoMinZW) November 9, 2021
“Our local currency is the Zimbabwe dollar (ZW$) and not cryptocurrency. Like most countries in the world, the government of Zimbabwe through its Financial Technology (FINTECH) Group, is studying Central Banking Digital Currency (CBDC) as opposed to crypto currencies, bit coins or any form of derivatives.”
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A Central Bank Digital Currency (CBDC) is the digital form of a country’s fiat currency that is also a claim on
