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Search resuls for: "Mugano"


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CNN —Zimbabwe’s recently re-elected President Emmerson Mnangagwa is facing outrage after appointing his son as deputy minister to the country’s finance ministry. Mnangagwa’s 34-year-old son, David, was among 26 officials sworn in as cabinet ministers Tuesday despite public anger when the list of the nominees was made public on Monday. In his expanded cabinet, Mnangagwa’s son is to deputize finance minister Mthuli Ncube while his nephew, Tongai, would serve as deputy minister in the country’s tourism ministry. Some Zimbabweans have accused Mnangagwa of running the impoverished southern African country as “a family business.”“Slowly Zimbabwe is becoming a family business. The opposition CCC party, which placed second in last month’s disputed polls, also criticized the ministerial list which included a couple, Christopher and Monica Mutsvangwa, both associates of President Mnangagwa, as ministers.
Persons: CNN — Zimbabwe’s, Emmerson Mnangagwa, David, Mnangagwa’s, Mthuli Ncube, Tongai, , Mugano, “ It’s, Ncube, ” Mugano, David Mnangagwa, Nick Mangwana, , ” Mangwana, Christopher, Monica Mutsvangwa, Mnangagwa Organizations: CNN, University of Zimbabwe, Business Administration, Drake University, CCC Locations: Zimbabwe, Harare, doldrums, United States
HARARE, June 14 (Reuters) - Zimbabwean businesses and households are fearing a repeat of the hyperinflation seen more than a decade ago as prices of basic commodities spike after a sharp weakening in the local currency, despite government efforts to boost it. "I went into the supermarket to buy bread and other groceries items but I was shocked to see that prices had gone up. While some retailers have hiked local currency prices, others are trading exclusively in U.S. dollars to cushion themselves from the weakening Zimdollar. "It is not possible for the retailer to procure goods with U.S. dollar and sell them in local currency," Confederation of Zimbabwe Retailers president Denford Mutashu said. As panic over the weakening Zimdollar spreads, there have been calls for Zimbabwe to again fully dollarise the economy.
Persons: Denford Mutashu, Gift Mugano, John Mangudya, Mangudya, Nyasha, Olivia Kumwenda, Mark Potter Organizations: U.S ., of Zimbabwe Retailers, Reuters, Thomson Locations: HARARE, Zimbabwe, Reuters Zimbabwe
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