18.11.2019
5:38
The Zimbabwe Energy Regulatory Authority has increased the price of fuel with effect from today (Monday).
Category Added in a WPeMatico Campaign
18.11.2019
5:38
The Zimbabwe Energy Regulatory Authority has increased the price of fuel with effect from today (Monday).
‘The budget has set aside resources for research and development programmes, including the launch of a space satellite. I repeat, including the launch of a space satellite,’ Ncube announced.
Then we began to suspect an empty space between the ears of the wizard economist who has returned Zimbabwe to hyperinflation, poverty and starvation but wants to play with rockets.
Some at the Vigil remembered when a Zambian would-be astronaut only got as far as the upper branches of a nearby tree. Zimbabweans sniggered then. We are not sniggering now.
This space breakthrough promises to be as important as the discovery of diesel flowing from the rocks in Chinoyi which took in a gaggle of credulous Mugabe ministers. Perhaps we have been wasting our time on industry and agriculture and stuff like that and have now found our destiny: a small step for mankind but a giant leap for Zimbabwe.
Why should we spend all day queueing for a few of the new Zimbabwean dollar notes when they can hardly buy anything – and when the new currency can easily be obtained from black market dealers who mysteriously have loads of it.
When he came down to earth, spaceman Ncube had some useful advice for the ordinary starving Zimbabwean, quoting Nobel-winning economist Amartya Sen: ‘Human development is about expansions of citizens’ capabilities to fend for themselves.
In other words, look after yourself. The government doesn’t have space for you.
Other points
FOR THE RECORD: 19 signed the register.
EVENTS AND NOTICES:
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Mnangagwa
The New Ministerial Line-up
On Friday 8th November the Office of the President and Cabinet announced changes made by President Mnangagwa to his Ministerial line-up with immediate effect. The following tables show the complete Ministerial line-up including the changes, in alphabetical order by name of Ministry.
CABINET MINISTERS & THEIR DEPUTIES
[pale shading indicates where there have been changes and an * indicates Minister from outside Parliament]
Ministry | Minister | Deputy Minister |
Defence and War Veterans | Oppah Zvipange Muchinguri-Kashiri | Victor Matemadanda |
Energy and Power Development | Fortune Chasi | Magna Mudyiwa |
Environment, Climate Change, Tourism and Hospitality Industry 1 | Mangaliso Ndlovu 2 | — |
Finance and Economic Development | Prof Mthuli Ncube * | Clemence Chiduwa3 |
Foreign Affairs and International Trade | Sibusiso B. Moyo | David Musabayana 3 |
Health and Child Care | Obediah Moyo * | John Mangwiro |
Higher and Tertiary Education, Science and Technology | Amon Murwira * | Raymore Machingura 3 |
Home Affairs and Cultural Heritage | Kazembe Kazembe 4 | Michael Madiro |
Industry and Commerce | Sekesai Nzenza 5 | Rajeshakumar Modi |
Information Communication Technology and Courier Services | Jenfan Muswere 6 | Dingumuzi Phuti 3 |
Information, Publicity and Broadcasting Services | Hon. Monica Mutsvangwa | Hon. Energy Mutodi |
Justice, Legal and Parliamentary Affairs | Hon. Ziyambi Ziyambi | — |
Lands, Agriculture, Water, Climate and Rural Resettlement | Perrance Shiri | Hon. Douglas Karoro
Hon. Vangelis Haritatos |
Local Government, Public Works and National Housing | July G. Moyo * | Marian Chombo 3 |
Mines and Mining Development | Winston Chitando | Polite Kambamura |
National Hosing and Social Amenities | Daniel Garwe 8 | Yeukai
Simbanegavi 9 |
Primary and Secondary Education | Cain Mathema 10 | Edgar Moyo |
Public Service, Labour and Social Welfare | Paul Mavhima | Lovemore Matuke |
Transport and Infrastructural Development | Joel Biggie Matiza | — |
Women Affairs, Community, Small and Medium Enterprises Development | Sithembiso G. G. Nyoni | Jennifer Mhlanga 3 |
Youth, Sport, Arts and Recreation | Hon. Kirsty Coventry * | Tinoda Machakaire 3 |
Ministers of State | ||
For National Security | Owen Ncube | — |
For Presidential Affairs in Charge of Implementation and Monitoring | Jorum Gumbo | — |
Endnotes
MINISTERS OF STATE IN THE OFFICES OF THE VICE-PRESIDENTS
Vice-President Chiwenga’s Office | Hon. Evelyn Ndlovu |
Vice-President Mohadi’s Office | Hon. Davis Marapira |
MINISTERS OF STATE FOR PROVINCIAL AFFAIRS
[in alphabetical order by name of the province]
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With the current economic crisis, it’s bad for inmates.
I saw men eating from the ground because they don’t have plates.
I saw people eating from patched lunchboxes, how bad can it be to patch an old ice cream lunch box.
😭😭😭
Because of the water crisis, everyone gets a bucket of greywater to drink, bath, and use the bathroom per day, the poor ones have no shoes, no descent uniforms and no soap.
To not do something would be criminal, please help us raise 4000 lunchboxes and slippers to donate to these inmates.
Lunchboxes come in handy because they get their supper before their locked up in their cells at 3, so they use them as storage to eat later.
Please help with used ice cream lunchboxes and slippers.
For more info contact 0738 135 849 or 0773 728 388
Post published in: Featured
Two years ago, Linos Mutepera was among hundreds of thousands of Zimbabweans who celebrated the toppling of long-time ruler Robert Mugabe with tears of joy.
Today, he looks back at that time with bitterness, his hope of a better life dashed on the rocks of poverty and joblessness.
“We were all there — the young, the old, the rich, the poor, blacks, whites and mixed race — waving the Zimbabwean flag, holding banners, hoisting placards, singing, dancing, praying together, holding each other’s arms and hugging,” he reminisced.
“We thought it was an end at last of an era that had been marked by poverty, joblessness, shortages, army and police brutality,” the 33-year-old unemployed engineering graduate told AFP.
Popular protests helped end the iron-fisted rule of Robert Mugabe, who steered Zimbabwe since its 1980 independence Photo: AFP / MUJAHID SAFODIEN
“How wrong we were.”
Mutepera, sitting beside a friend hawking clothes at a Harare flea market, pointed bleakly to the promises made by Mugabe’s successor, Emmerson Mnangagwa, to rebuild Zimbabwe’s shattered economy.
“We were used,” he said. “I feel so let down, so betrayed. But at least I am wiser.”
Mugabe came to power in 1980, surfing on his reputation as the guerrilla leader who had steered colonial-era Rhodesia to independence, ending white-minority rule.
Mugabe’s successor Emmerson Mnangagwa won disputed elections with pledges to lure foreign investment and create jobs Photo: AFP / Jekesai NJIKIZANA
By November 2018, the smell of corruption and cronyism that infected his regime prompted the military to take over — a coup code-named Operation Restore Legacy.
He was replaced as president by Mnangagwa, his former deputy, whom he had fired weeks earlier. The military supremo and face of the coup, General Constantino Chiwenga, became one of his deputies.
Inflation runs into triple digits Photo: AFP / Jekesai NJIKIZANA
The following July, Mnangagwa won disputed elections on pledges to lure foreign investment, create jobs and turn the country into a middle-income economy by 2030.
But Zimbabwe’s nightmares returned within months, as shoppers battled daily shortages of basics such as fuel, cooking oil, sugar and bread.
Unemployment today is over 90 percent while the size of the economy has more than halved since 2000, when Mugabe’s seizure of white-owned farms crippled Zimbabwean agriculture.
Inflation runs into triple digits, electricity is available for just six hours a day and in many urban areas, the taps are dry.
Disgruntled Zimbabwean civil servants march while carrying protest banners rejecting current salary payments Photo: AFP / Jekesai NJIKIZANA
“Things have basically got worse,” Professor Tony Hawkins of the University of Zimbabwe’s School of Economics told AFP.
“People are getting poorer and thousands are losing jobs,” he said.
“The economy has got worse and politically, nothing has changed except that the military are much more visible and much more powerful.
“Basically, it’s back to square one, with a change of driver but the same bus or taxi.”
Alex Magaisa, a lecturer at the University of Kent in England, said Mnangagwa’s promise of a new dawn had become “nothing more than a mirage.”
A spokesman for the opposition Movement for Democratic Change (MDC), Daniel Molokele, said Zimbabweans had mistakenly believed Mugabe’s removal would end the country’s woes.
“The euphoria that we saw in 2017 was not for the ascendancy of Mnangagwa but for the fall of Mugabe — and people also thought it meant the fall of the entire system created by Mugabe,” he said.
“Two years later there is hopelessness, there is despondency, there is disappointment.
“People would rather go back to 2017 not because Mugabe was better but because people are much more poorer. There is more corruption with cartels running sections of the economy. It’s a classic case of jumping from the frying pan into a fire.”
Molokele suggested a dialogue involving Zimbabweans “from all walks of life… so that the people can determine the Zimbabwe they want.”
Public fury at the state of the economy was an important factor in Mugabe’s downfall.
That anger flared anew in January, when Mnangagwa more than doubled fuel prices, sparking protests that left at least 17 people dead and scores of injured.
Harare-based political analyst Alexander Rusero told AFP the November 2018 takeover had “never been for the good of the people.
“It’s all about the political elite in (the ruling) ZANU-PF (party) and the preservation of their wealth,” he said.
“The moment you have soldiers closing the barracks and joining politics, nothing good comes out of it.”
Post published in: Featured
Welders working in the dark to beat power shortages in Harare, Zimbabwe (Pic: Problem Masau)
Distributed Power Africa (DPA), a subsidiary of mobile phone provider Econet Global, has over the last year begun installing solar panels and Tesla-supplied battery packs on 65 of its telecommunications towers across Zimbabwe.
The batteries replace the use of polluting diesel generators to provide backup power when grid electricity is cut, said Divyajeet Mahajan, DPA’s CEO.
The systems are drawing growing interest from businesses and industry in other sub-Saharan countries as well, from South Africa to Kenya, he said.
Mahajan called the switch to solar panels with battery power storage “a major development in improving energy security for critical users”.
But the switch has faced a range of obstacles, from the still substantial price tag to theft of the batteries.
Both South Africa and Zimbabwe have seen a growing rate of battery theft, said Kezito Makuni, Econet’s chief operating officer.
“For Tesla lithium-ion battery installations at our base station and sites, we have contracted our own technicians to install these batteries with the specific reason to avoid issues of theft of these batteries,” he said in a telephone interview.
In October, thieves stole 24 of the batteries from one Econet facility, though the men were arrested and the batteries recovered, Zimbabwe’s police service said.
Still, battery systems are increasingly seen as key to ensuring a reliable power supply in southern Africa, both as countries slowly adopt more solar power – available only during the day without storage systems – and as frequent droughts hit the hydropower production the region relies on, said Man’arai Ndovorwi, a renewable energy engineer with the Zimbabwe Energy Regulatory Authority.
COSTS – AND JOBS
So far, the systems are used mainly for industry as they remain too expensive for many households, said Washington Zhakata, the director of Zimbabwe’s Climate Change Management Department.
“Lithium-ion batteries can alleviate power shortages even at individual level, but the cost might be high,” he said. But commercial power providers also can use the systems to feed backup power into the main grid to serve homes, he said.
A battery system capable of running a telecom tower for up to 10 hours costs $13,000, Mahajan said.
To help companies afford the batteries, Mahajan’s company offers leasing options as well as selling the equipment, he said.
Shepherd Chawira, president of the Matabeleland chapter of the Confederation of Zimbabwe Industries, said many industries and businesses in the country have been forced to turn to diesel generators as the power supply becomes unreliable as a result of drought.
“Industry is faced with crippling levels of insufficient energy, coupled by unsustainable power tariffs and inflation. These factors lead to increased costs of doing business and this affects the output,” he said.
“It is also costly for industry to run for more than 10 hours on diesel, considering that fuel prices are also going up,” he said.
Chawira said companies without backup power have been forced to scale down operations or close shop, leading to job losses.
Zimbabwe’s government, which sees a switch to more renewable energy as a way to curb the problems, in July removed import duties on solar-power equipment and accessories.
Tendai Marowa, an energy management consultant who works with the government on climate change issues, said he was hopeful that as use of battery storage systems rises around the world, the costs of the equipment would fall.
“I think with time, because of commitments and investments going into that technology by private companies across the globe… we should have batteries that are more user friendly and they should also be affordable,” he said.
Post published in: Featured
16.11.2019 15:44
Zimbabwe’s monthly inflation rate more than doubled in October as food costs surged, bringing the nation closer to a new bout of hyperinflation.
Pensioners line up to withdraw their pensions from a bank in Harare.
Photographer: Cynthia R Matonhodze/Bloomberg
Zimbabwe’s monthly inflation rate more than doubled in October as food costs surged, bringing the nation closer to a new bout of hyperinflation.
Monthly inflation accelerated to 38.8% from 17.7% from in September, the Zimbabwe National Statistics Agency said in an emailed statement Friday. That’s the highest rate since June.
Post published in: Business
The California Consumer Privacy Act, the most significant privacy regulation ever enacted in the United States, takes effect in January 2020. Join us for a free webinar to learn more.
The California Consumer Privacy Act, the most significant privacy regulation ever enacted in the United States, takes effect in January 2020. Join us for a free webinar to learn more.
The blooming weed industry promised massive revenues, a nascent agrarian industry, a booming supply chain, and soaring local taxes. While it has delivered on all of those things in limited fashion, recent earnings calls from market leaders like Tilray ($NASDAQ:TLRY) have analysts and investors worried that we may be seeing an early floor — or at least normalization — of the industry’s ability to earn as prices settle and operational costs become reality.
Yesterday, Tilray reported a third-quarter net loss of almost $36 million, or 36 cents per share. That’s up from last year when it reported losses of $19 million, or 20 cents per share. That said, revenue rose to $51.1 million from $10.1 million.
But skyrocketing losses are the focus of investors today, and they appear to have a lot to do with sinking weed prices. Tilray reported that the average price per gram of weed it sold sunk from $6.21 to $3.25.
Tilray isn’t alone here: The price of weed across the industry has been dropping, including at Tilray competitor OCS — Ontario Cannabis Store ($PRIVATE:ONTARIOCANNABISSTORE) — where we have pricing data for the past few months.
At OCS, the price of 3.5- and 7.0-gram non-CBD products is showing a steady decline, mirroring that of Tilray and other companies in the space. Since August, the average price has dropped from $13 to $11.42.
While Tilray points to higher operational costs and the acquisition of Manitoba Harvest and Natura Naturals, declining prices will only continue to squeeze revenue and subsequent earnings.
The company has entered a bit of a hiring slowdown as it picks up the pieces as well – openings are down as much as 33% since last summer as the stock price inches to the $20 mark.
Joshua Fruhlinger is the publisher of Thinknum Media.
According to the Princeton Review’s 2020 law school rankings, which law school has the most “competitive” students?
Hint: The ranking is based upon student survey responses asking about the number of hours respondents study outside of class each day, the number of hours they think their fellow students study outside of class each day, and the degree of competitiveness among students at their school.
See the answer on the next page.