Zim Latest

Zimbabwe police crash Harare bond note demonstrations; Zim protesters say NO to fake money

Harare Demonstrations Update: Today Zimbabwe police fired tear gas and water cannons to disperse protesters and activists who took to the streets to vent their anger against the introduction of a new currency in the capital.

zwnews.com has received reports of skirmishes involving police and protesters near Construction house.

Some shops and banks near the vicinity of the clashes temporarily closed and resumed business later once the streets were cleared.

Choppies shop owned by Vice President Phelekezela Mphoko was shut around mid morning hours.

Protesters carried placards on Wednesday and chanted slogans denouncing the new currency, called bond notes, which they fear will become worthless because of economic mismanagement by President Robert Mugabe’s government and his Zanu PF ruling party

“No to fake money,” read one poster.

People waiting in line at banks to get cash in downtown Harare scurried for cover from the tear gas and blasts of water.

The economically troubled southern African country introduced the bond notes on Monday, the first time Zimbabwe had its own currency since 2009, when hyperinflation reached 500 billion percent, according to the International Monetary Fund. At that time there were 100 trillion dollar notes in circulation.

Speaking about the new money, outspoken opposition politician Tendai Biti warned Mugabe that inflation and shortages would make life unbearable under the new currency.

Biti mourned the lack of productivity and exports as Zimbabwe is now over relying on  importations without necessary financial and banking facilities to meet the full costs of doing business across borders.

He pointed to the shrinking economy since 2013 and the ever increasing debt as a warning for worse things to come.

Today’s protests were organised by Tajamuka activists and youths from the opposition Movement for Democratic Change(MDC).

 

Share

Recent Posts

Gokwe Man in Court Over Comparison of Mnangagwa to ‘Scud’

A man from Gokwe found himself in legal trouble after an altercation with a Zanu… Read More

28th March 2024

Zimbabwean Influencer Shadaya Tawona Knight Discloses Ongoing Threats to His Life and Family

Shadaya Tawona Knight, a prominent figure in Zimbabwe's social media landscape known for his controversial… Read More

28th March 2024

SA President Ramaphosa congratulates Senegal’s President-elect

South African President Cyril Ramaphosa has on behalf of the government and people of South… Read More

28th March 2024

ZESN condemns proposed Constitutional amendment to Electoral Act

The Zimbabwe Election Support Network (ZESN) has voiced concern over proposed Constitutional Amendments that could… Read More

28th March 2024

Gold Coin and Gold-backed Digital Token Prices – 28 March 2024

The Reserve Bank of Zimbabwe (RBZ) has released the latest prices for gold coins and… Read More

28th March 2024

Welcome to the dark side of AI

By A Mutambara Folks, the video being circulated as a beautiful and inspiring speech by… Read More

28th March 2024