Economic justice

Zimbabwe borrows $985 million from African banks

4 March 2019 

Zimbabwe’s Reserve Bank has borrowed $985 million from African banks to purchase fuel and other critical imports with current reserves covering imports for just four weeks, underscoring the severity of dollar shortages, governor John Mangudya said.

The southern African nation last month ditched a discredited 1:1 dollar peg for its surrogate bond notes and electronic dollars, merging them into a lower-value transitional currency called the RTGS dollar.

PIC director tells inquiry Mboweni told board to resign

26 February 2019 
 

A member of the Public Investment Corporation's board said on Tuesday that the board only offered to step down after it was instructed to do so by Finance Minister Tito Mboweni. 

Board member Dudu Hlatshwayo was giving evidence before the judicial commission of inquiry probing allegations of impropriety at the state-run asset manager. Her evidence contradicts what was said by board chair and deputy Finance Minister Mondli Gungubele on Monday.
 

Cashew pile up burdens Tanzania govt after unilateral purchase

22 February 2019

Tanzania government is struggling to get buyers for cashew nuts it unilaterally bought from farmers after a November 2018 price standoff with private buyers.

Government opted to buy all harvests after private buyers failed to up their prices at the request of the president John Pombe Magufuli.

The army subsequently collected all the harvests from farmers in the country’s southern region. President Magufuli doubled the price of a kilo of cashew nut from 1,500 to 3,300 shillings, or a little over $1.

Fedusa puts Dennis George on precautionary suspension over AYO deal

28 February 2019 
 

Trade union federation Fedusa announced on Thursday morning that it had placed its General Secretary, Dennis George, on precautionary suspension.

George had been placed on special leave on February 6. 

"This decision comes in the wake of allegations relating to the acquisition of shares in technology company, AYO Technology Systems," said the federation. 
 

Former finance minister, SANDF chief to testify at state capture inquiry

28 February 2019

Former finance minister Trevor Manuel and former SANDF chief General Siphiwe Nyanda are scheduled to testify before the Zondo commission into state capture on Thursday.

Last month, Zondo, who is chair of the commission, denied an application by the Gupta family's lawyer Mike Hellens to cross-examine Manuel.

This was the second time the family was denied opportunity to cross-examine witnesses.

Zimbabwe launches new currency measure

20 February 2019

 

Zimbabwe, without its own currency for a decade, took steps to address its worsening economic crisis by allowing its surrogate currency, bond notes, and electronic funds to float freely against other major currencies, abandoning an official but artificial parity with the dollar.

To read the article titled "Zimbabwe launches new currency measure"Click here

EXPLORING THE GAP BETWEEN THE DIGITAL HAVES- AND HAVE-NOTS IN INTERNATIONAL DEVELOPMENT

When we explore the question of technology in our sector, conversation quickly turns to back-office systems for creating more efficiencies in accounting, finance, HR, and operations. Certainly, many larger NGOs have been implementing a wide range of enterprise systems that often integrate these functions more seamlessly while also connecting the head office and the field.

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