REFLECTION: My Love Zimbabwe, 2018 and all that's been talked about and cried about

Mthuli Ncube Appointment

Some weeks after poll victory, the President revealed the appointment of new carbinet ministers to run with the highly affirmed 2030 goal. Amongst the group was a surprise pick that was both unexpected the striking at the same time. From any angle you look at it, whether you support the ZANU PF or any one of the opposing sides this was and still remains a PERFECT PICK. Mthuli Ncube is not only an exceptional academic but a practical genius as well. The guy was a past chief economist and Vice President of the African Development Bank. He holds a PhD in Mathematical Finance from Cambridge Universtity. Perfect as he credentials are, much is expected. A lot is piled on his shoulders. He has held difficult positions but it may seem all the past ones were preparing him for this current calling where the prosperity of his motherland is in his hands with very little to work with.

To whom much is given, much is expected.

2% Tax

On 13 October 2018, the Daily News had an article which read, 2% tax begins, Techzim: Mthuli Ncube we through with it it's now law to pay 2% Tax. On this day it came into effect and would change the economic landscape for the country just after elections. It divided the land and much confusion and panic was in the evidence package. Many questions were asked but the answers don't seem to precipitate to the questioners. The government forecasted it would raise $3.4 billion from this statutory instrument. Certainly something the government has been having difficulties doing in a long time. But had they seen the radical shifts in economical landscape, disappearing of products from shop shelves, skyrocketing of rates on the parallel market and lengthening of fuel queueing. 

To the Economically educated these are externalities and reactions of changes in some fundamental makeups of a society. To the ordinary Zimbabwean, this is a sign that things are going South - Land of no return - "2008" you hear in whispers. However, one thing about economics and the related instruments is that noone can ever accurately predict their outcomes.

Leave it time, we say.

ZSE turnover up 74%

According to the Newsday on 4 December 2018, the value of shares that were traded on the Zimbabwe Stock Exchange (ZSE) was up 74% in the year to $715,3 million as resurgent inflationary pressures forced investors to seek refuge in equities. The necessitated bull run has seen stock prices soar. The numbers are looking good but is it yet time to sell.

Inflation figures for October 2018 released by Zimstat, show that annual inflation gained 15.46 percent points to reach 20.85%, while month on month rate for October was at 16.44%, representing a 15.52 percentage points increase on the September level.

ED Wins the 30 July Elections

The second republic, much expectation and gallons and gallons of hype on the menu. With a breath of fresh air and confidence for a better Zimbabwe, "tomorrow" being the word much abused in the run up to the polls. The future of a revolutionary generation and the generations to come was on the line. The opposition campaigned, the ruling party did as well but the people would have to make the final say. 

Voting begun and the hype continued. Results started to be echoed about on social media as soon as people started voting. Confidence was above the roof for both sides and social media could not help it with both contestants declaring victory to their supporters. Confusion again. The Electoral body declared ED the winner to the presidential race but the noise would not settle.

Blood on results day.

1 August Shootings

The results still being announced, the streets were full. Singing, shouting and sometimes some throwing here and there. The police came first and then the army. People could not be contained and there was bloodshed, innocent people some of whom were not even involved in the protests. Questions begin to fly around about who is right and who is wrong but to us and the families of those shot, it doesn't change much - The dead were buried. Grief cannot be solved by a politician holding a mike whether ruling party or opposition. The president set up a commision of enquiry. Answers are required. Everyone is looking.

We Won Cosafa - Again

The giant Zimbabwean national football team popularly known as the warriors did it again this year. They chose not to dissapoint. Bringing the cosafa cup to Harare for a record 6th time is something they did in style.

Indegenisation Act Reforms
Zimbabwe has 8 laws that govern investments, a move that is seen as increasing the cost of investment considering the statutory fees have to be paid in fulfilment of the laws. Some of the laws governing investment are the Zimbabwe Investment Authority Act (Chapter 14:30); the Immigration Act (Chapter 4:02); Companies Act (Chapter 24:03); the Envirnment Management Act (Chapter 20:27) and the Exchange Control Act.

Other laws are the Zimbabwe Revenue Authority Act; the Special Economic Zones Act; and Joint Ventures Act. Efforts are being made to bring harmony to this legal set and it can have a big impact on the economy as far as foreign direct investment is concerned.

Road blocks
New dispensation came with new deeds. That thing of traffic police at every 5km intervals was well and buried together with the much celebrated end of the RG Mugabe regime. We can all argue about why this was done, and whether it was for the good or for the better but at least you nolonger need to pay uniformed people at every turn.

The Roads are free.

What a year we have had. Let us brace for 2019!