George Charamba accuses banks of sabotaging Mnangagwa’s projects

Presidential spokesperson George Charamba has lambasted Zimbabwean banks for allegedly ‘sabotaging’ President Emmerson Dambudzo Mnangagwa’s projects.

“When President Xi Jinping announced One Belt, One Road (OBOR) initiative, now popularly known as Belt and Road Initiative (BRI), Chinese Banks rushed to provide loans to actualize this intercontinental initiative.

“When President Mnangagwa announces an Agricultural Policy, Banks in Zimbabwe shun it!

“Can someone explain the differences in response? Let’s assume the word CONFIDENCE is erased from our vocabulary please, kuti timbonyatsofunga zvine hudzamu!!!!! Let’s go…..,” he said.

In response, Brian sedze said: “Zimbabwean deposits are transitory.
Not so many are keeping money in the bank.

“They don’t have money from medium to long term depositors to fund long term project. Our inflation or exchange rate turmoil is because of using ST to finance LT projects.”

Wasomi Wanyika said:

“Effectiveness of them are different especially on transparency, accountability and may be responsibility too.”

Robert Matiwa:

“The differing bank responses reflect global influence, risk perception, historical failures, and investor sentiment.

“Zimbabwe’s political instability and unclear strategies deter investment, while BRI projects are backed by a strong international framework.”

Zwnews