The Zimbabwean
We, Christians
Together for Justice and Peace, write to express our deep
concern at the
confusion that abounds and the extent of the polarisation
among Zimbabweans
concerning the Senate Elections. This issue is not only
dividing the nation
into antagonistic camps for and against participation
but has also created
unprecedented confusion in the minds of many ordinary
citizens whose one
over-riding desire is simply to cleanse the nation of
corrupt rule and to
make a new start under a radically new servant
leadership of real
integrity.
The words of Scripture come to mind; "When he (Jesus) saw the
crowds he had
compassion on them, because they were harassed and helpless,
like sheep
without a shepherd." (Matthew 9/36) Truly our people are without
a wise and
caring shepherd today, and this is evidenced in the divided state
of the
nation and the prevailing confusion, as well as in the intensity of
suffering which is being continually ratcheted up.
We share the view
of very many Zimbabweans that this is not the time to
introduce a Senate. We
are appalled at the way it has been imposed upon a
reluctant nation without
any proper consultation or debate. We understand
that it serves the narrow
sectional interests of some of the ruling elite,
and no other
purpose.
Clearly it will not put one loaf of bread on the table of a
destitute
family, nor one shelter for a homeless couple, nor provide medical
relief
for one single HIV sufferer among the millions afflicted. Indeed the
misuse
of the country's few remaining resources for this elaborate
irrelevance is
in our view a scandal in the eyes of the Sovereign God of
justice and mercy.
What he requires of us is plainly set out in
Scripture:
"Is not this the kind of fasting I have chosen: to loose the
chains of
injustice and untie the cords of the yoke, to set the oppressed
free and
break every yoke? Is it not to share your food with the hungry and
to
provide the poor wanderer with shelter - when you see the naked to clothe
him and not to turn away from your own flesh and blood?" (Isaiah
58/6-7)
If that was all there was to say about the Senate Election then
clearly we
would be urging our fellow Christians to boycott the Poll on
November 26.
But we have to acknowledge that some of those who share our
desire for
freedom under the rule of law in Zimbabwe, have advanced some
good,
strategic reasons for participating. We respect their integrity and
their
right to make their own judgment in a complex, almost no-win
situation.
Our counsel therefore is that Christians should humbly and
sincerely seek
the guidance of the all-wise, all-loving God on this issue
and then either
vote or not vote as the Spirit leads them, while at the same
time showing
respect for and tolerance of those fellow Christians who may
come to the
opposite conclusion.
The Zimbabwean
BY A SPECIAL
CORRESPONDENT
EDINBURGH - International legislators meeting here this week
saw horrifying
video footage of Zimbabweans displaced by Operation
Murambatsvina - from
traumatised, near-suicidal adults to hungry, sick and
bedraggled toddlers -
in a bid to highlight the humanitarian crisis.
The
video, titled Crime of Poverty, depicted the inhuman conditions in which
tens of thousands of victims are existing five months after Robert Mugabe's
police and soldiers rampaged with bulldozers through poor urban
districts.
Dutch-based Zimbabwe Watch and the Zimbabwe Human Rights NGO
Forum organised
the event for parliamentarians from European Union and
African, Caribbean
and Pacific nations gathered for the EU-ACP Joint
Parliamentary Assembly.
Since the Assembly last met in Japan in April, human
rights violations in
Zimbabwe have escalated with Operation Murambatsvina
(Drive Out Filth).
"Operation Murambatsvina is a man-made national
disaster and should be
declared as such," Pondai Buma, a researcher in
Harare for the Human Rights
NGO Forum told the meeting. "It has grotesquely
and systematically violated
a wide spectrum of human rights . families have
been separated and children
prejudiced of education, health and
shelter."
British Member of the European Parliament Glenys Kinnock noted
that forced
removals and dumping people in the middle of nowhere was a
favourite tactic
of authoritarian regimes to make a population "feel
destabilised and
nervous." But still, she wondered: "Why was there no
uprising after
Operation Murambatsvina?"
Primrose Matambanadzo, of
the Zimbabwe Association of Doctors for Human
Rights, the other Harare-based
speaker at the meeting, said that a
combination of fear, dire poverty, the
sheer daily struggle to exist, a loss
of faith in the political system, and,
more recently, splits in the
opposition, had helped induce
apathy.
"It really was a purge of the urban poor," she added. "You have a
population
which is experiencing deteriorating levels of poverty - just
trying to put a
meal on the table. Lethargy has been increased by the
opposition being so
fractured."
Several Zanu (PF) supporters,
including Walter Mzembi, portly member of
Parliament for Masvingo South, sat
in the audience, apparently unmoved by
the video of traumatised, rail-thin
compatriots, and occasionally talking
and giggling among themselves.
Afterward Mzembi dismissed the video as "80%
lies." He handed out a business
card for his company, Rarefield Investments
(Pvt.) Ltd. The company slogan,
given the Zimbabwe situation, looked - to it
put mildly - bizarre: "Our
ingenuity is putting food on your table."
The video, made by the
Solidarity Peace Trust on the post-Murambatsvina
situation up to October,
showed families that have been flung in the back of
police trucks up to five
times since their homes were bull-dozed and dumped
in fields or holding
centres, such as Hopley Farm, with no housing, toilets,
or clean
water.
There was the young mother describing how her baby, dragged with
her by
police from shelter in a Bulawayo Baptist church, gave up the
struggle for
life after two nights in the open; a toddler who had stumbled
into an open
fire sat on a her mother's lap, her feet horribly burned,
unable to walk and
in constant pain untreated for months.
A widow
said simply: "I have reached the point where I want to die because
life is
unbearable." Women prepared pathetic meals over fires in the dust.
Some
displaced people were shown crawling for shelter under dirty blankets
or
plastic sheeting just above ground.
"Ah," said a woollen-capped youth,
"these people have messed up our lives.
They started something and now can't
put it right."
The Zimbabwean
BY STANFORD MUKASA
WASHINGTON -
The pro-senate group in the MDC has launched a campaign on
several fronts in
a bid to assert itself as a power bloc. But neither their
logic, campaign
nor strategies to justify their position have won any
support from the
masses in Zimbabwe, especially the people of Matabeleland.
Reports say the
rallies convened by the Welshman Ncube-Gibson Sibanda group
have been very
poorly attended. To be exact, on the day Tsvangirai held his
rally at the
White City stadium over 10,000 people attended. But Welshman
Ncube's rally
in Pumula drew a laughable 70 people. Even more pathetic was
another rally
attended by David Coltart, which attracted only 16 people.
We have also
received information that these rallies were held after the
rebels had held
secret meetings to discuss strategies about how to prevent
Tsvangirai from
holding rallies in Bulawayo. One such strategy was to get
some members of
the MDC-controlled Bulawayo City Council to write a letter
to the police not
to grant permission.
But even more disturbing was the allegation that the
group hired thugs to
physically assault supporters of Tsvangirai. A young
man who was campaigning
for Tsvangirayi was so severely assaulted that he
lost one eye. (see story
and picture P9) Another lost all his front
teeth.
The most amazing thing was the unity displayed by the people in
the midst of
all this provocation. Had this been during 1960s, there would
have been
running battles between supporters of rival parties.
This
behaviour was clear evidence of what MDC stalwart Gertrude Mtombeni had
said
earlier: the people of Matabeleland have a national rather than tribal
or
ethnic perspective and are strongly united behind Tsvangirai.
This also
exposed the lie that had been peddled by the pro-senate group that
the
people of Matabeleland were eager to participate in the elections in
order
to maintain control of the region. Perhaps the most persistent peddler
of
this pro-senate position has been Trudy Stevenson. Her two articles were
published not only in the pro-senate Newzimbabwe.com but also in the
CIO-controlled Mirror.
It is a cultural misrepresentation on the part
of Stevenson to say people
followed Tsvangirayi's position because they
regarded him as an elderly
fatherly figure who must be followed. If that was
the case then the people
of Zimbabwe should have overwhelmingly voted for
Mugabe because he is not
only an elderly person but self-appointed president
of Zimbabwe!
Stevenson also argued that the people of Matabeleland wanted
for historical
reasons associated with Gukurahundi to participate and not to
give Zanu (PF)
any political space in Matabeleland. This is a fallacious
argument that is
not supported factually.
However, many people will
share Stevenson's view that the MDC is here to
stay and has weathered more
than its share of storms in its six years so
far. But Stevenson falters or
is conspicuously quiet on the efforts by the
national council and
Tsvangirayi to reach out and negotiate with the
pro -senate
group.
Information received indicates that several attempts by Tsvangirai
to
negotiate have been rejected by the Ncube-Sibanda group. The same group
has
also boycotted the national council and executive committee meetings.
They
are now said to be planning to boycott the people's congress in January
or
February.
It does not take a great deal of imagination to conclude
that the
Ncube-Sibanda pro-senate group is scared stiff of the very same
people they
are purportedly representing. If they felt they had a very
strong case they
would have welcomed this opportunity to appear in the last
two MDC council
meetings to plead their cases.
But their strategies
and tactics are very similar to those used by Mugabe's
CIO. It is not a
surprise that a strong case can be made that CIO has
infiltrated this group.
Under Tsvangirai's leadership MDC has been vibrant
and has in fact won all
the elections it contested, forcing Mugabe to rig
the elections to stay in
power.
Even a confidential memo from the chief of the police to Mugabe
warned about
the power that could be unleashed against the government by an
increasingly
disillusioned population under the MDC.
It has been
argued that if the pro- senate group wins a significant number
of seats that
will make them a strong political power bloc in the MDC.
Nothing can be
further from the truth. Being in a senate weakens one's
political position
and influence in the MDC because the senate is a heavily
discredited
institution.
Mugabe is also aware that if the pro-senate group wins any
seats it will
legitimize the senate. We have received information from
unnamed sources
that are in the know that Mugabe actually plans to reward
the pro-senate
lobby by giving them perhaps 18 seats. They will be an
ineffective and
pathetic minority.
- Letter from America is a weekly
analysis broadcast every Monday evening
(www.swradioafrica.com) and Tuesday
morning 1197 Khz medium wave.
The Zimbabwean
BY LITANY BIRD
Dear Family
and Friends,
I was at a small local function this week when a father
stepped forward and
addressed the gathering about the dire needs of an
institutional home for
mentally handicapped people. He told of how the
institution had always been
massively subsidised by farmers and
businessmen.
Farmers would just arrive with sacks of vegetables,
potatoes, meat and
fruit; businesses gave bedding, furniture or cash
donations to help with
plumbing, maintenance and upkeep. In the last six
years as the majority of
farmers have been forced off their properties and
as more and more
businesses have closed in our shrinking economy, it has
become almost
impossible for specialist institutions to keep
going.
At the end of his short appeal for help, there was clapping and
encouragement from the audience and the man returned to his seat. As he did
so the electricity went off in yet another power cut. But before the candles
had even been found, people were coming forward in the dark. One after
another they passed over handfuls of cash and others gave bottles of brandy
and vodka to be used as prizes in a raffle.
Someone suggested the
bottles be auctioned and amid cheering and applause an
auctioneer was
nominated and the bottles of spirit came under the hammer.
There was nothing
at all special about these bottles, they were the cheapest
locally made
spirits with unknown brand names which sell for around
$150,000.
The
bidding for the first bottle began at $100,000 and with much jesting,
rose
to two, three, six, $800,000. "One Bar" shouted the auctioneer, "I have
one
bar" - which is the latest Zimbabwean slang for $1 million. This became
two
bars, and then three bars. At last the bidding was done and the sale
made.
The hammer went down in the candlelight, the applause was deafening
and a
struggling home for mentally handicapped people was given a small
reprieve.
Not long after the impromptu auction, talk turned to the
ludicrous situation
these days where the banks are short of big denomination
notes. In a country
with galloping inflation, presently at 411 percent, none
of us ever seem to
have enough money. A businessman told how he'd been short
of $30 million in
cash to pay his small work force. The bank said that at
such short notice
they could only provide it in $1000 notes.
Later
that night with a large sheet of paper, a calculator and kitchen scale
I
worked out what this entailed - 30,000 bank notes, 3000 paper clips and 30
elastic bands. This large pile of paper weighs a staggering 45 kilograms and
when the businessman got to the bank to collect his money, they had to loan
him a tin trunk and two security guards to carry it.
And what can you
buy for$30 million in Zimbabwe this week: 1200 loaves of
bread or 90 frozen
chickens or a drum and a half of petrol on the black
market. Until next
week, Ndini shamwari yenyu
The Zimbabwean
BY M M NGWENYA
LONDON -
Zanu (PF) has systematically designed a sophisticated mechanism
meant to
keep them in power for another decade if not two. This mechanism
has been
used to force its opponents to support the regime. Violence has
been used to
instil fear.
All Zimbabweans are witnesses to the hideous penalties inflicted
on
perceived opponents by youths and State machinery in the run up to all
elections.
In addition, large sums of State money is disbursed and
distributed to the
weak and gullible members of the opposition to persuade
them to cause
division in the party obviously to the advantage of Zanu
(PF).
Welshman Ncube and club have fallen pray to this tactic. This
strategy
should never be underestimated by the would-be opposition. My
advice to
serious opposition parties is to take the route taken by Zanu in
1969. When
Ndabaningi Sithole wanted to denounce the armed struggle against
the
Rhodesian forces, a vote of no confidence was conducted which saw the
rise
of Mugabe.
People in Matabeleland should be warned, the
pro-Senate guys are bent on
enriching themselves, and nothing else. The
people who won in the past
parliamentary elections did so because they were
MDC, not that they deserved
so as individuals.
Zimbabweans need
change. Bingley Sibindi (The Zimbabwean 18- 24 Nov. 2005)
should not be
fooled. Those who dine with Zanu (PF) should learn their
lessons from
comrades Kuruneri, Makamba. And soon Murerwa, Gono and Pasi
will follow
suit.
Related to the disease above is factionalism. This concept is
usually used
in its restricted sense to apply to what we witnessed recently
in the MDC.
All groupings of people who believe in democracy and rule of law
must of
necessity work together. Zimbabweans from all organisations must put
their
heads together to mount civil disobedience.
Why should Lovemore
Madhuku be arrested? Where are the leaders of the other
organisations? We
have reached a stage where we need to be prepared to die
for the cause of
all, including the Militia, the army, and those who support
blindly.
Thabo Mbeki is another enemy of Zimbabwe who deserves to be
ignored. He is
aware of the problem in Zimbabwe but would rather play a
delaying tactic
until his term of office is over.
Another puzzle
which requires attention is the Chinese presence in Zimbabwe.
Reporting for
the Guardian, Paul Redfern informed the world that the UK and
America are
worried about China's massive investment in Africa. The reason,
he says, is
that African governments appreciate China's tendency to keep its
nose out of
domestic affairs of the host countries.
There are two if not three
lessons that Zimbabweans should learn from this
situation. China has the
highest record of human rights abuses. Chinese
nationals demonstrated
recently in London against their visiting president.
America and Britain
cannot dare challenge China in Africa for fear of
confrontation. As a
result, they have adopted a wait and see attitude while
the situation
continues to deteriorate in Zimbabwe.
Where shall our help come from? I
feel very strongly that, unless
Zimbabweans mount serious civil
disobedience, Zanu (PF) may be with us for
ever.
Our situation
demands self-sacrifice. We can no longer afford to be
individualistic in our
approach to the situation in Zimbabwe. Why should we
sit back and watch as
Zanu (PF) removes constitutionally elected MDC
leadership? As long as we
fear imprisonment, Zanu (PF) will be with us for
life. Mugabe needs to be
taken head on.
The Zimbabwean
Editorial comment
This
weekend's Senate elections are, like the Charge of the Light Brigade,
an
exercise in utter futility. They mean nothing. They will change nothing.
Millions will continue to suffer. Mugabe and his henchmen have not even
bothered to go out and campaign. Surely that should tell us all
something?
They probably won't even bother to rig them. What's the point?
It's much
more fun to sit back and watch the two warring MDC factions fight
it out
between themselves.
The only thing that can hurt the ruling
thievocracy now is a massive
stayaway from the polls. Always in the past
Zanu (PF) has been happy with a
fairly low turnout - knowing that a high
poll will favour the opposition.
But this time around they need the people
to vote.
If they don't, the whole thing will be seen for the meaningless
sham it is -
an elaborate, and costly, exercise to warehouse the party
geriatrics who
have been rejected by the people but who refuse to die
quietly. And as power
inexorably slips away from him, the aging Mugabe
indulges in one more
desperate throw of the dice to buy influence and
support.
We would like to throw our weight behind the ZCTU, reported
elsewhere in
this paper as urging people to "find something else to do on
Saturday". This
election has nothing to do with the people of Zimbabwe. It
will serve only
to impoverish them further.
It will not reduce
inflation, now over 400%, create jobs, build homes, heal
the sick, provide
seeds or fertiliser or repeal unjust laws. Even if MDC
wins all 26 seats it
is contesting. Zanu (PF) already has 24 in the bag
(uncontested) and 16 to
be appointed by the President - a total of 40 out of
the 66-member
Senate.
The Zimbabwean
EDITOR - I have just heard a first-hand
account of an old woman, in Soswe
who was very ill. She went to Dirihori
Clinic where there was no medication
available. She had no food and just
managed to get back to her humble
dwelling on the hill where she died 24
hours later. Talk to anyone in the
streets and you will hear a similar
story. Didymus Mutasa must be delighted
that his shameful words spoken a
couple of years ago are coming to man-made
fruition.
This is the silent
insidious genocide that I have talked and written and
lobbied about for the
past three years - is NO ONE listening? Who gives a
damn that people are
dying like flies - NO ONE because the deaths go
unreported by desperate,
hungry, despondent people. And what difference
would it make if they were
reported?
Another "sudden death", not worth the Police's effort to open a
docket, get
a PM done and anyway there is no fuel in their vehicles - except
for moving
the hundreds of riot police into positions to beat hell out of
peaceful
protesters.
And to add insult to Zimbabweans injury is a
huge banner being displayed
outside the GMB head office in Harare saying "
Celebrating 25 years of
service and democracy in Zimbabwe" - what lying
swines. No service, no
maize, no wheat and certainly damn all
democracy.
May these evil tyrants reap their just rewards in this life
and the next.
K KAY, Zimbabwe
The Zimbabwean
EDITOR - Many have branded
Tsvangirai a dictator, simply because he dared
overturn a national council
resolution that sought to have the MDC
participate in the forthcoming
senatorial elections.
I don t really know what they mean by that because in a
democracy the wishes
of the majority are respected, and it is very clear
that Tsvangirai has the
backing of the majority of MDC supporters (as
opposed to council members).
Now who's being dictatorial here, the one
who's simply following the wishes
of the majority or the other group that is
trying to use the constitution to
suppress majority
sentiment?
Tribalising the issue will not help the Ncube faction because
they certainly
don't have the support of the people as Tsvangirai does, even
in Bulawayo.
You should have witnessed how their proposed rallies in
Bulawayo flopped. I
urge the Ncube faction to see reason and return to the
fold.
CHARLES DUNCAN, Bulawayo
The Zimbabwean
EDITOR - It really hurt every one
of us to see the MDC leader loosing
direction. He doesn't want to admit that
he made a mistake by not respecting
the National council resolutions.
There's no tribalism in MDC, but lack of
thinking capacity. MDC as the
opposition party is there to challenge all
factions of Government.
We in
Matebeleland do not want Zanu (PF) senators - that's why we are
supporting
the national council resolutions. In Zimbabwe we are fighting
dictatorship,
so don't be another one President Tsvangirai. Follow what the
MDC
constitution says .We cant let Zanu senators to go to the upper house
undiluted.
We are saying No Zanu (PF) in Matebeleland. Stop insulting
Welshman Ncube -
he is not the National council.
Z.N, Bulawayo
The Zimbabwean
EDITOR - The decisions
made by the Welshman Ncube faction to decide to run
for elections did not
come as surprise to us in the United Kingdom. I had
several verbal and
communication clashes with Welshman Ncube for the past
four years since he
has been behind the MDC Executive's decision not to have
UK and South Africa
as provinces. His argument is that external branches are
not covered in the
constitution of the MDC. If these external branches had
been accorded
Provincial status, the Ncube plot could have been exposed as
early as
2001.
If MDC UK elections are done in UK and there is no Welshman Ncube
confidant
in key positions, he could not recognise these elections. He did
this for
years until MDC structures collapsed in UK. Manchester Branch
managed to
block his final push of having structures in the UK run by his
stooges.
The pro-senate group is just another useless bunch of tired and
useless
politicians. At least, the MDC now knows who are the genuine ones
and the
party should stand firm and expel the 26 candidates. If they are
true
democrats as they portray, why are they scared of attending the
congress?
This crisis has made Tsvangirai stronger from both inside and
outside
Zimbabwe. Don't let them destroy what we built, the pro-senate is a
bunch of
Mugabe sympathisers who wants power at the expense of democracy in
Zimbabwe.
DURANI RAPOZO, Manchester
The Zimbabwean
EDITOR - A home for abandoned babies
and HIV orphans has been established in
Suburbs, Bulawayo. Some of these
babies have been at Mpilo Hospital for
quite a few years and about 30 of
them will soon be moved to the home.
The home is under the auspices of
the Baptist Church and urgently needs
anything and everything to do with
babies - cots, prams, push chairs, high
chairs, baby blankets, linen,
nappies, car chairs and toys. We need your
help. Please phone 011 622 363
email - jack@zol.co.zw
KIM BARROW,
Bulawayo
The Zimbabwean
BY A
CORRESPONDENT
HARARE - Inept coverage by both the private press and state
mouthpieces of
this month's arrest, detention and release of trade
unionists, university
students and other national civic leaders provided
more depressing testimony
of the parlous state of Zimbabwe's battered
media.
The state media handled the Nov. 8 demonstration against the soaring
cost of
living by the Zimbabwe Congress of Trade Unions (ZCTU) by not
covering it.
The Media Monitoring Project Zimbabwe (MMPZ) in its report
for Nov. 7-13
noted that, instead, on the day of the demonstration The
Herald and The
Chronicle bombarded readers with denunciations of the trade
unionists by
members of the Mugabe regime. They resorted to the well-worn
tirades against
any critic as Western lackies etc.
Neither paper
reported on the demonstration itself or the reasons for it,
and when news of
the arrest of 152 trade unionists filtered out, The Herald
buried it in a
story accusing Britain of rallying its Western allies to
demonise Zimbabwe.
No suggestion, of course, of questioning whether the
arrest of peaceful
demonstrators violated their right to free expression
which is supposed to
be guaranteed by the constitution.
"Rather, it (The Herald) sought to
malign the ZCTU as one of the
organisations used by Britain to 'incited
people to go into the streets to
kick-start a Ukranian-style Orange
Revolution'," the MMPZ said.
The separate arrests of Chitungwiza Mayor
Misheck Shoko and National
Constitutional Assembly chairman Lovemore Madhuku
were also handled as if
expressing dissent were a crime. The Herald did
later report that Shoko,
Madhuku, trade union leaders and 33 demonstrators
were released, but said
nothing about what had happened to the others. ZBH
went one better -
censoring all news of the arrests, detentions and
releases.
The MMPZ said the private press was little better, generally
failing to give
a comprehensive picture of the scale of the protests or to
relate the
arrests to yet another violation of citizens' basic freedoms.
Only the two
outlawed radio stations, SW Radio Africa and Studio 7, provided
informative
detail.
The state media continued to vent its fury on US
Ambassador Christopher Dell
for his landmark speech accusing the regime of
mismanagement and corruption.
Their technique of reporting the authorities'
sound and fury, but not
details of the ambassador's remarks, presented ZTV
with a problem. Several
of 11 people it interviewed for a vox pop about
Dell's speech showed little
knowledge of what they were being asked to
comment on.
The private media did a better job on the Dell row, said the
MMPZ. For
example, The Financial Gazette did not simply quote Foreign
Affairs Minister
Simbarashe Mumbengegwi as lambasting Dell, but also carried
a quote from the
Embassy saying Dell had spoken out after repeated attacks
on the United
States by Mugabe. Similarly, the Zimbabwe Independent quoted
economist Eric
Bloch as Dell's comments were "nothing but fact."
The
state media continued its dishonest coverage of the crisis bedevilling
the
farming sector - blaming anything or anyone other than the authorities
and
the chaotic seizures of white-owned farms.
The MMPZ said that, in
contrast, the private media carried instructive
reports exposing the extent
of the "mayhem" and warning that the coming
season will be a
disaster.
The private media also reported the seizures of the last 18
white-owned
farms in Karoi; the theft, led by an assistant police
commissioner, of
equipment from white-owned farms in Mwenezi; the allocation
of farms to
Chinese enterprises, and the eviction of 100 "new" farmers from
Hunyani Farm
to a white-owned farm, Montgomery, in Mashonaland West. The
government media
turned a blind eye.
The Zimbabwean
It was only a
matter of time before the stock market bubble would finally
burst and result
in miserable faces. After reaching an all-time high the
previous Friday, the
market collapsed losing $44 trillion worth of market
capitalisation in five
days.
The self-perpetuating nature of the stock market also accelerated
the rate
of collapse. The collapse left several investors in bull traps with
the
worst affected being those in FML. As the week progressed it became
evident
that the buffer made from multiple-fold gains was beginning to be
eroded for
many and hence the sales began to show some signs of
desperation.
What could have triggered this collapse besides the market
being overweight
could be the 180-day Treasury bills that were floated at
360% and the rumour
that even shorter dated paper was likely to return to
the money market. The
release of the COTTCO, DELTA and PGI September results
also led to a
relative re-rating process on the valuation of stock
prices.
Technical analysis shows that the short-term support level for
the
industrial index is at about 15 million points while the 3-months
support
level is at about 9 million points. We expect the market to hit a
false
bottom sometime this week, which could result in some prices
appreciating
briefly before they begin to fall again.
The market
should go into a quiet period similar to a graveyard market where
those who
are in cannot go out and those who are out do not want to get in.
Investors
are likely to reach capitulation by month end in which they will
be glad to
sell at whatever price (even at a loss). Thus there could be
opportunity to
make snap up value though the timing will be quite critical.
However after
capitulation there should be a number of oversold stocks.
Only seven
counters recorded advances against the 54 that declined. The
gains were an
unusual line up that was led by KINGDOM, which advanced 20% to
$1200 while
CELSYS advanced 18% to $94 after reaching an intra-week high of
$110.
PELHAMS put on 14% to $120, POWERSPEED put on 13% to $900 while
ZIMPLOW
advanced 7% to $1500.
Leading the declines in the week was
FML, which collapsed 63% to $600 after
the rumour on the acquisition by
Sanlam of South Africa was found to be a
decoy. The stock reached a peak of
$2000 on Monday before heading for the
freefall.
We expect the price
to continue to come under pressure and possibly find
support at about $400.
Other top declines were reported in MASH which
slipped 68% to $630 while
ASTRA and TRUWORTHS each lost 55% to $1700 and
$1800 respectively. TURNALL
lost half of its value and closed at $700 and
BARCLAYS lost 46% to
$1300.
Minings HALOGEN came as the surprise when it was the only counter
that
advanced after putting on 41% to $120,000. The company remains a shell
with
an NAV of £1.14.
The Zimbabwean
BY GRAHAM SHAW
"Then we cried out
to the Lord, the God of our fathers, and the Lord heard
our voice and saw
our misery, toil and oppression. So the Lord brought us
out of Egypt with a
mighty hand and an outstretched arm, with great terror
and with miraculous
signs and wonders." (Deuteronomy 26/7-8)
The story of Israel's epic struggle
for freedom is an encouragement to all
the enslaved peoples of the world. It
is certainly a story to inspire the
crushed and almost despairing people of
Zimbabwe who today suffer under a
cruel tyranny. Was the Egyptian Pharoah
any worse than our dictator?
Probably not. In fact most dictators display a
marked "family likeness", and
ours fits the universal pattern - fear-driven,
ruthless in pursuit of power
and totally insensitive to the extremes of
suffering he causes. So we can
take heart from this classic account of
liberation.
But the Biblical account of the freeing of the Israelite
slaves is more than
a classic tale of liberation. It is the Biblical
paradigm or model of how
the God of justice and freedom intervenes to set
free those who are crushed
by any dehumanising structure or system of
oppression. It addresses a word
of hope like none other to all oppressed
peoples - a promise that the
sovereign Lord feels our pain and suffers with
us; indeed that he will
ultimately deliver those who put their trust in
him.
Therefore let dictators beware! You may have been bewitched by your
own
propaganda into believing that the awesome powers you wield will save
you,
but the truth is that you have set yourself up against Almighty God
himself,
and therefore your doom is already sealed. One day your powers will
be
stripped from you, the subjects whom you have terrorized will be set
free,
and for all your dark and terrible deeds you shall be held to account,
before the sovereign Judge if not also before any human court.
As I
was reading the book of Exodus recently a question loomed for me: at
what
point in the dramatic narrative did it become clear that the Israelite
slaves would indeed be set free? There is no evidence of a turning point at
which the mood of the slaves suddenly turned from despair to hope. Having
lived in slavery for so long, even when they were promised a new world and
beckoned on the road to freedom, most remained sceptical. As in Zimbabwe
today.
But I am asking a different question here - not when did the
popular mood
change, but rather at what moment in time (whether it
registered in the
national consciousness or not) did it become clear that
freedom was coming ?
At what point in time would a truly perceptive
Israelite have said, "Now I
know that freedom is coming and nothing, and no
one, can stop it"?
Imagine yourself in conversation with one of the
recently liberated, former
slaves who has now safely crossed the Red Sea.
You ask: At what point did it
become clear that your people would be set
free and that nothing could stop
the process?
Was it that moment when
you had miraculously crossed the Red Sea yourselves
and, looking back, you
saw the chariots of the pursuing Egyptian troops
getting bogged down in the
mud, the waves ready to sweep them to their
death?
Was it when the
Egyptian task-masters were struck down with the dreadful
plagues - the
frogs, the flies, the locusts, the boils and the rest? Or,
more likely, when
the last and most terrible plague struck, and the home of
every Egyptian
(including Pharoah's) was visited by the angel of death, who
took away the
firstborn from each, but leaving unharmed those homes of the
Israelites
whose doorframes were marked out with the blood of a lamb? Was
that the
freedom moment?
Or was it when Moses and Aaron first appeared before
Pharoah, daring to
ask - no, demand - in the name of the God of freedom "Let
my people go"?
I believe our perceptive former slave would take us right
back to the story
which appears in Exodus chapter 3, when Moses was tending
his father-in-law's
sheep on the quiet hillside, and the living Lord
startled him with a word of
divine revelation from the flaming bush that was
not burning. As he stood
there silently, no doubt trembling before the
awesome presence of the holy
God, Moses heard a voice saying: "I have indeed
seen the misery of my people
in Egypt. I have heard them crying out because
of their slave drivers, and I
am concerned about their suffering. So I have
come down to rescue them from
the hand of the Egyptians ."
There was
more in that holy conversation, about the land promised to these
fugitive
slaves, about the blessings they would receive and about Moses' own
part in
the liberation struggle, but this was the core of it. God had seen
the
suffering and heard the cries of his beloved children. And God himself -
the
God of justice and freedom - was coming to the rescue.
From that moment
onwards there was never any doubt that the enslaved
children of Israel would
be set free. Though the manner and the timing of
God's great plan of
deliverance was still to be revealed, and though many
dangers, frustrations
and setbacks still lay ahead on the journey to
freedom, the outcome of that
struggle was already settled. And to anyone
possessing a degree of spiritual
insight, and trust, it was now clear. God
himself had spoken the word of
liberation. "He who has ears, let him hear."
The slaves will be
free!
I believe it is essential to our whole mind-set as a people who
have been
reduced to the level of slaves in Zimbabwe for so long, and
disempowered by
our fears, that we grasp the significance of that freedom
moment. The moment
that comes a long way ahead of the final liberation but
which declares what
the outcome will be - inescapably.
But the point
is that, because of what the God of justice and freedom has
already revealed
of himself and of his plan of salvation for the poor and
oppressed of this
world, we can be confident even now of the final outcome.
We can bet our
lives upon it. We know that as God abhors dictators, as he
hears the cries
of his suffering children and feels their pain, just so he
has come down
among us. And be assured, he will deliver us from power of
evil that now
rules in our beloved country.
That is not an invitation to sit back, arms
folded, and wait for our Saviour
God to rescue us from the hands of our
Pharoah, as some cowardly Christians
are inclined to do. No, the wonderful
assurance of God's ultimate victory
should never be taken as an excuse for
cowardly inaction; rather is it a
word to inspire us to bold and confident
action.