The signs of a dysfunctional economy and a central bank struggling with issues are now self-evident, they can no longer be hidden.
Zimbabwe’s national drink, Mazoe, is now selling at US$7.99, something we warned would happen if Mnangagwa’s corrupt regime continued on its ruinous path with a worthless local currency.
Zimbabwe now has the highest inflation in the world and the worst local currency, a situation that could have been avoided. However, Mnangagwa pressed on with corruption that ultimately sank his short-lived currency project.
The only way out for Mnangagwa is to dollarise, but he won’t do it because it would prevent him from looting public funds through public procurement by increasing money supply through printing the ZIG.
The economic situation is likely worse than we can imagine.
📸 Corruption-accused businessman Wicknell Chivayo has a new headache tonight: his Instagram appears to have been hacked and is posting salacious screenshots of DMs with several women including singer Shashl and Maxine Adam, wife of ‘prophet’ Edd Branson