Analysts have expressed concerns over a recent claim that the federal government resorted to printing money to augment the monthly allocation to the three tiers of government, warning that it could heighten inflationary pressure with dire consequences for the country’s exchange rate and economy. The analysts, in separate interviews with newsmen, warned that a sustained policy of printing the currency, if not well managed, would hurt the economy. The concern came on the heels of recent revelation by Governor of Edo State, Mr. Godwin Obaseki, that due to the dwindling revenue in the face of declining oil revenue arising from the growing sources of alternative sustainable energy, the federal government had to print money to augment the amount available for sharing by the federal, state and lo...
Zimbabwe’s President Emmerson Mnangagwa and some opposition politicians received China’s Sinovac Covid-19 vaccine in the tourist resort of Victoria Falls on Wednesday as part of efforts to encourage citizens to get inoculated. Zimbabwe has registered vaccines from China, India and Russia for emergency use but none so far from Western manufacturers. In a country where suspicion and scepticism often trump facts, Mnangagwa’s vaccination at a public event, together with opposition leaders, was meant to assure citizens that the vaccines were safe. The southern African nation had planned to administer the Sinopharm vaccine to 53 000 health workers and selected security forces when it rolled out the first phase of its programme on 18 February, but only 44 135 people had been vaccinated by Tuesday...
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A new report by two United Nations agencies warned Friday of a heightened risk of famine in three conflict-torn African states and Yemen, and a high hunger risk in 16 more. The Food and Agriculture Organisation and World Food Programme warned that a “toxic combination of conflict, economic decline, climate extremes and the Covid-19 pandemic … is driving people further into the emergency phase of food insecurity”. The agencies swung the spotlight on Burkina Faso, Nigeria, South Sudan and Yemen, all facing rising levels of acute hunger with potential risk of famine. Issuing “a stark warning” in their Early Warning Analysis of Acute Food Insecurity Hotspots, the agencies said the four countries have areas that could soon slip into famine. Some parts of the population “are already experiencing...
South Africa’s defence minister has been reprimanded and will lose three months of salary after ruling party officials took an air force plane to Zimbabwe earlier this month, President Cyril Ramaphosa said on Sunday. The African National Congress (ANC) delegation’s presence aboard the flight sparked widespread criticism over the use of state resources for party business. Their trip to Harare was for crisis talks with Zimbabwe’s Zanu-PF ruling party aimed at helping tackle the country’s political and economic woes. But they tagged along aboard Defence Minister Nosiviwe Mapisa-Nqakula’s plane, rather than travelling privately. She had a scheduled meeting in Zimbabwe to discuss regional issues following a recent summit of the Southern African Development Community bloc. Mapisa-Nqakula will no...