Name, shame exercise divides Zanu PF into factions

The government’s naming and shameful operation against corporations and individuals accused of fueling the galloping parallel exchange rate of foreign currencies has sparked fierce fighting within the Zanu PF, with some party members claiming the exercise was motivated by political malice and not real Interest in stabilizing the economy.

The Treasury Department recently launched a naming-and-shaming operation against individuals and companies accused of manipulating the official exchange rate and misusing government-allocated foreign currency.

Last week the Reserve Bank of Zimbabwe (RBZ) named and shamed 30 people who allegedly abuse cellphone services and social media to facilitate foreign exchange transactions. The central bank added 47 more names to the list earlier this week.

However, some Zanu PF members claimed that the naming and shaming campaign was politically motivated and aimed at a specific faction within the ruling party.

Several Zanu PF villains, including former ministers Priscah Mupfumira and Ignatius Chombo, were arrested on transplant allegations after a “name-and-shame”

Yesterday several party members were in a Whatsapp Group, The Patriots, questioned the logic behind naming and shaming the perpetrators without arresting them.

One member wondered why the party started naming and shaming now, but she fired the party youth, Godfrey Tsenengamu and Lewis Matutu, for doing the same thing.

Another member accused the ruling party of acting like the old dispensation of the late ex-President Robert Mugabe.

“Naming and shaming people involved in criminal activity and no arrests, what a circus,” said one member.

Another member said, “Name and shame little people, omit big names,” to which another replied, “Big names, you will be fired like (Lewis happened) Matutu.”

Zanu PF member and former Deputy Treasury Secretary Terrence Mukupe said yesterday that the Treasury Department’s decision to officially lock the exchange rate has not tamed the exchange rate craze.

“I’m just amused by the whole naming and shame culture that started with the former youth leaders and now RBZ has jumped into the same belt trailer. Economic issues require sober minds and no politics of play on the gallery. My inbox is exploding with other financiers and economists who can’t understand why we’re not doing just three very simple things. “

He said the Treasury Department had failed to address the real problems of the economy and focused on the exchange rate, which continues to add to the galloping parallel market rate.

Mukupe said, “The official value of 1:88 is a form of daylight theft. Any business that imports at that price is simply stealing from people because we never see them selling the goods they produce at that price. We have to stop commanding the rate because it is clearly imploding.

“Aside from sanctions, our real problem is that of jobs and productivity. The focus should be on the things that bring income to this great nation – mining, agriculture and industry. “

He added, “The Industry Department is sleeping and not helping the great vision of my President ED. I remember very well the day His Excellency (Mnangagwa) came back on the steps of Zanu PF Headquarters and stood next to him. The biggest applause he got was when he said the focus will be on jobs, jobs, jobs !!!

“The Ministry of Industry is doing nothing to support the retrofitting of our manufacturing sector. If we focus too much on infrastructure that doesn’t improve our income capacity, like Sekuru Prof (the late former Malawi President Bingu wa) Mutharika and Dr (former Zambian President Edgar) Lungu, the economy will implode !!! “

Mukupe, who is a banker, concluded: “So with the naming and shame, let’s see … my finance advice to the business people … borrow as much as possible in Zimdollars, park your money on the stock exchange … and oh yes, go to the official RBZ Market and get as much USD as you can … because now, with the attitude of the monetary authorities, the risk free way to make money is to take money from the government through the RBZ auction !!! ”

But Zanu PF’s incumbent spokesman Michael Bimha defended Ncube’s policies to control inflation and other white-collar crimes, saying he was mandated to act in any way within the law to stabilize the economy.

He denied claims that Ncube’s economic policies were politically motivated.

“The ruling party is not above the law and there can be no cause for concern if a party member is named for economic gimmicks,” said Bimha.

“As long as the minister is acting in accordance with the law, politics does not matter what he would do. Whether a Zanu PF or MDC member is caught in the net doesn’t matter as long as justice takes its course. “

–-NewsDay

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