@EcoCashZW Hi, I was told by your customer care that they would fix an account error that kept capping my transaction limit on my virtual master card and up to now it has not been fixed, every time I try to call I can reach up to even half an hour just being told to choose a language.
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YOU NEED TO RETWEET THIS SO THAT MANY ZIMBABWEANS UNDERSTAND WHAT IS HAPPENING TO THEIR MONEY!
An elderly Zimbabwean social media follower asked me, "Why does Prof. Steve Hanke @steve_hanke say that Zimbabwe has the highest inflation in the world, and why is it getting worse?"
Prof. Hanke is a renowned economist who has been measuring Zimbabwe’s inflation for over five years.
I used the following example to explain to the elderly lady.
Zimbabwe’s national drink, Mazoe, was US$4.50 in April, and today it is US$7.75.
That is an increase of US$3.25 in just five months.
This is why Zimbabwe has the highest inflation in the world, it is a failed and dysfunctional economy, but I need to explain more.
The inflation rate for Mazoe between April and September is 72.22%.
To give you an idea of how bad this is, the overall inflation rate in South Africa is 5.1%, and in Botswana, it is 3.9%.
The Zimbabwean government is run by a president who operates criminal cartels that steal money from the government.
For example, an internet server that cost US$4,500 was sold to the government for US$1.5 million.
Ten internet servers cost US$45,000, but through Mnangagwa’s criminal networks government is billed US$15 million.
The sale of an internet server at a significantly inflated price as happened impacts inflation because of the money supply.
Money supply is the total amount of money available in an economy at a particular point in time.
The US$1.5 million per server is paid in foreign currency, government has to print local currency to buy that foreign currency, and that increases money supply!
If the government pays for the server using newly printed money or by taking on new debt, it increases the money supply.
When more money is in circulation, prices rise, contributing to inflation.
So, this has nothing to do with supermarkets or manufacturers being greedy.
It is caused by Emmerson Mnangagwa’s criminal cartels that use public procurement to loot government money increasing money supply.
Overpaying for goods or services leads to a misallocation of resources.
In this case, the $1.5 million per internet server could have been used for other essential services like healthcare, infrastructure, or investments that could have improved the economic productivity or well being of Zimbabweans.
That is why Zimbabwean hospitals have no medication or medical equipment, that is why you don’t have clean drinking water or modern books in schools.
That is why civil servants and pensioners get paid peanuts and that is why everything is now very expensive in Zimbabwe.
That is the cost a country pays for looting and having a corrupt leader who uses criminal cartels to siphon public money using public procurement also known as tenders.
Inflated prices for goods and services distort market prices, making it difficult for consumers and businesses to make informed decisions.
This leads to inefficiencies and higher costs for consumers, further contributing to inflation.
Today Mazoe costs US$7.75 in OK and Bon Marche the biggest supermarket group in Zimbabwe.
In April the same drink cost only US$4.50, when Mugabe was in power it cost US$2.50.
As we wake up this morning, the world needs to know that a school child has been in Zimbabwe’s maximum security prison since 16 June, 2024.
Nicolle Chabata was arrested along with 78 others at the home of opposition leader Jameson Timba, where they were commemorating the Day of the African Child.
She should be in school today, but instead, she is sitting in Mnangagwa’s filthy Chikurubi maximum security prison, despite having exams coming up.
Her right to assemble was taken away on 16 June.
The Zimbabwean constitution allows citizens to meet without needing permission at a private residence.
The Day of the African Child which they were commemorating is meant to celebrate the rights of children across the continent, and the fact that Nicolle was arrested while commemorating this day is both ironic and tragic.
She should be in school today, preparing for her exams and enjoying the freedoms that every child deserves and that are underwritten in the Zimbabwean constitution.
This is today’s Zimbabwe under Emmerson Mnangagwa, where human rights have been taken away, and society is living in fear!
Bail is a constitutional right, but it is also routinely denied by the captured, corrupt and unprofessional judiciary, which the Zimbabwean tyrant uses as his weapon of choice against prodemocracy activists.
As you go about your day, remember that there is a school missing an O’Level student who has been in jail since June 16.
Remember her name, Nicolle Chabata!
Cheers grew louder as Gabriel Ota, clad like a popular Japanese action game character, strutted his costume on stage.
It was fun covering this event yesterday.
@billmasukuart@OtakuKonnect
https://t.co/Acs7pS8D9r
@Respawn@PlayApex May you please let us know when we can have an African server, the player base is very large but having to connect to European servers for 240 ping is really frustrating, Bahrain has lower ping but it was on and off and people ended up relying on London a lot..
@PlayApex May you please let us know when we can have an African server, the player base is very large but having to connect to European servers for 240 ping is really frustrating, Bahrain has lower ping but it was on and off and people ended up relying on London a lot..