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Russian delegates explore Zim prospects

DPA, 2/10/06

Harare - A 48-member delegation of Russian business people and journalists is in Zimbabwe for a week to explore business opportunities and to see the situation in the country, it was reported on Monday. The visit comes after unconfirmed reports last week that Air Zimbabwe is preparing to replace its ageing fleet of three Boeing aircraft, possibly with planes from Russia. These investors have various business interests ranging from transport, power and mining to tourism, telecommunications and agriculture, Russia's ambassador to Zimbabwe, Oleg Scherbak was quoted as saying in the state-controlled Herald newspaper. The 17 Russian journalists in the delegation would establish the truth behind the negative publicity that Zimbabwe is currently receiving from some Western countries, Scherbak said. President Robert Mugabe's government blames the country's problems including acute shortages of foreign currency, fuel, power and medicines, and an annual inflation rate of more than 1 200 percent on what it calls illegal sanctions imposed by Western nations. Mugabe claims Britain and its allies want to effect regime change in Harare after they slapped a travel ban and asset freezes on dozens of top ruling party officials. Russia has been a long-time ally of Zimbabwe. It supported the country's war of independence from white minority rule, and provided education to many ruling party cadres in the post-independence era. The 82-year-old Zimbabwean leader has urged his countrymen to pursue a Look East policy by exploring business opportunities with Asian countries, especially China.


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Mwanawasa wins tight Zambia election race

Mwanawasa wins tight Zambia election race

Zambian President Levy Mwanawasa

Zambian President Levy Mwanawasa:
«A significant improvement.»

© Michael Gross / US govt / afrol News
afrol News, 2 October
- Zambian President Levy Mwanawasa has secured his re-election after a polarised battle against opposition challenger Michael Sata. While the opposition candidate - a staunch fan of Mugabe's Zimbabwe - has recognised his defeat, he nevertheless claims the vote was "stolen". Mr Sata's followers reacted to the defeat with rioting and looting this night.

The Electoral Commission of Zambia (ECZ) has confirmed the re-election of President Mwanawasa for a second five-year term in Lusaka Statehouse. The incumbent gained 42 percent of the vote as all the ballot papers had been counted by the ECZ this evening. Zambian law only provides for one poll round, meaning President Mwanawasa will be sworn into his second term in a ceremony already tomorrow.

His main challenger, Mr Sata of the Patriotic Front (PF) party, managed to gather 29 percent of the votes - less than opinion polls had suggested in advance. A third candidate, Hakainde Hichilema, surprisingly won 25 percent of the votes, thus being able to collect many of the protest votes Mr Sata had hoped to win.

The election campaign had polarised Zambians, with President Mwanawasa trying to take credit of the modest economic gains the country has experienced during the last five years, while Mr Sata tried to cash in on the many unsatisfied workers and poor, who have noticed little progress during the last decades. Mr Sata promised voters to cut taxes drastically, go after foreign investors exploiting Zambian workers and increase social spending.

The main challenger during his campaign stood out as too radical and populist for a majority of Zambians, many doubting his democratic instincts. Praising the regime of Robert Mugabe in speeches, he claimed neighbouring Zimbabweans were enjoying progress. His verbal attacks on 'The Post', Zambia's leading independent newspaper - which lead to physical attacks on the media by his follower - further cast doubts over his willingness to play by democratic rules.

Answering to claims that his economic policies would scare of investors and create inflation, Mr Sata held people could "not eat inflation". Followers however pointed to the fact that Zambian governments so far have failed to successfully address rampant poverty in the country.

While Mr Sata and his campaigners were given a wide playing field to express their disgust with President Mwanawasa, limits were however reached yesterday night, when PF supporters reacted with anger to the first poll results, indicating a victory for the incumbent. Rioting PF supporters in Lusaka and the Copperbelt region took to the streets, destroying several central neighbourhoods and looting shops. Only armed police action brought an end to the upheaval.

Speaking to his followers today, Mr Sata nevertheless ordered them to stop the violent protests and stay calm. The presidential challenger admitted victory for President Mwanawasa, but claimed this had only happened because the vote was "stolen". He provided no proof for his allegations of poll rigging.

International election observers seem to totally disagree with Mr Sata when assessing the Zambian poll. According to the Commonwealth observer mission, there had been no serious irregularities during the elections, which represented "a significant improvement on the 2001 polls." A larger mission from the Southern African Development Community (SADC) also described the elections as free, fair, peaceful and well-managed.

Both observer missions reacted to lesser "logistical problems" when it came to distributing voting materials to remote polling stations, but the situations had always been handled with "commitment and professionalism." The Commonwealth mission only complained about the unfair bias in favour of the ruling party by the state-owned broadcaster ZNBC in its news reportage of the campaign.

Complaints against Mr Sata and his followers were however stronger by Zambian media organisations. The PF leader was accused of "hate speech" against 'The Post' and its editor, which had lead his followers to stage attacks on the Lusaka daily. 'The Post' this weekend had a front page article, based on its own polls, saying that President Mwanawasa was "headed for victory." They were the first to report the news.


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Zimbabwe: Agriculture minister admits food shortage

Zimbabwe: Agriculture minister admits food shortage
RELIEFWEB


MASVINGO – Zimbabwe Agriculture Minister Joseph Made told a weekend farming show that the country did not harvest enough food last season and that an army-led programme to produce food had flopped.

Made and his boss President Robert Mugabe had until now always insisted that Zimbabwe harvested around 1.8 million tonnes of the staple maize from the 2005/06 season, enough to meet national consumption until the next harvests that begin around March 2007.

Relief agencies and independent farming experts say the country could only manage to produce between 700 000 and 800 000 tonnes of maize after a shortage of fertilizer, seed and fuel crippled production despite good rains received last season.

Made - who in 2001 misled Zimbabweans that the country would produce enough food after a helicopter fly over the country to check on crops - for the first time admitted in public that his food estimates were once more wrong, telling the Masvingo agricultural show that the government was already importing food to make up for the shortfall in production last season.

He said: “The country has already imported maize to cater for the deficit. We will continue to import food if the need arises.” He did not disclose how much maize the cash-strapped Harare administration has so far been able to bring into the country.

Maize-meal, the main food for more than 90 percent of the 12 million Zimbabweans, is in short supply in some parts of the country especially the hunger-prone southern Matabeleland region.

Bread is also in short supply because wheat harvests last season were below national requirements.

Made said Operation Maguta, a Stalinist-style command agriculture programme under which soldiers were moved onto former white farms across the country to produce strategic crops such as maize and wheat, flopped because of lack of resources.

“Last agricultural season the project (Operation Maguta) failed because we did not give enough resources to it,” said Made.

Vice-President Joice Majuru has in the past also declared Operation Maguta a failure after touring farms run by the army and finding little or no production going on there.

A severe food crisis stalking Zimbabwe since 2000 is only one of many acute symptoms of Zimbabwe’s seven-year old economic meltdown that has also spawned shortages of fuel, electricity, essential medicines, hard cash and just about every basic survival commodity.

The main opposition Movement for Democratic Change party and Western governments blame the crisis on repression and wrong policies by Mugabe, in particular his seizure of productive farms from whites for redistribution to landless blacks.

The farm seizures destabilised the mainstay agricultural sector and caused severe food shortages after the government failed to give black villagers resettled on former white farms skills training and inputs support to maintain production.

But Mugabe, who has ruled Zimbabwe since the country’s 1980 independence from Britain, denies mismanaging the country and says its problems are because of economic sabotage by Western governments opposed to his seizure of white land. - ZimOnline


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Zimbabwe Air Chief Draws Fire For Election Endorsement

VOAZimbabwe Air Chief Draws Fire For Election Endorsement


02 October 2006
Interview With Giles Mutsekwa audio clip
Listen to Interview With Giles Mutsekwa audio clip

The commander of Zimbabwe's air force has come under fire from opposition parties and human rights groups for instructing voters in Chikomba, a village in Mashonaland East province, to cast their ballots for a ruling ZANU-PF candidate in a by-election.

The state-controlled Sunday Mail newsaper reported that Air Marshal Perence Shiri told a public meeting in the constituency that ZANU-PF is "tried and tested."

The by-election was called to fill the seat vacated by Tichaona Jokonya, the former information minister who died in office several months ago.

ZANU-PF has fielded its deputy chairman for Mashonaland East province, Stephen Chiurayi. The opposition Movement for Democratic Change faction led by Morgan Tsvangira has nominated Chivhu businessman Moses Jiri.

Attorney Tafadzwa Mugabe of Zimbabwe Lawyers for Human Rights said Shiri's comments revealed show a lack of professionalism. National Constitutional Assembly Chairman Lovemore Madhuku said the military must stay out of politics.

Analysts said Shiri’s words recalled the 2002 pronouncement by then-army general Vitalis Zvinawashe to the effect that the army would not support a president who did not meet their liberation standards – an apparent reference to Tsvangirai.

Flanked by top military and police officials, Zvinavashe said that the country's security organisations would "only stand in support of those political leaders that will pursue Zimbabwe values, traditions and beliefs for thousands of lives lost in pursuit of Zimbabwe’s hard-won independence."

Intelligence and security spokesman Giles Mutsekwa of the Tsvangirai MDC faction said Shiri was not speaking for the broader officer corps, especially his juniors.


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Zimbabwe Media Alliance Rebuffs Accusations by Information Official

VOA   


02 October 2006
Interview With Matthew Takaona audio clip
Listen to Interview With Matthew Takaona audio clip

The Media Alliance of Zimbabwe has come under fire from Media and Information Commission Chairman Tafataona Mahoso, who recently accused the group of trying to destabilize the country. Mahoso described a two-day Alliance meeting in Harare last week as a platform for “an orgy of anti-Zimbabwe diatribe.”

The Media Institute of Southern Africa, a member of the Alliance, rejected Mahoso's accusations. MISA said the meeting agenda was communicated to Mahoso and other officials such as Acting Information Minister Paul Mangwana and members of the parliamentary committee on communications, with an invitation to attend.

The Alliance proposes a voluntary media council and the reform of controversial media laws like the Access to Information and Protection of Privacy Act, or AIPPA.

President Matthew Takaona of the Zimbabwe Union of Journalists, another member of the Alliance, tells reporter Carole Gombakomba of VOA's Studio 7 for Zimbabwe that his organization and its coalition partners won’t be deterred from fighting for a truly independent media watchdog and reform of the country’s media laws.


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Despite Bread Price Concession, Bakers Face Continuing Cost Crunch

Despite Bread Price Concession, Bakers Face Continuing Cost Crunch


02 October 2006
Interview with Luckmore Zinyama audio clip

Though the Zimbabwean government authorized what was described as a temporary increase in the price of bread from Z$200 to Z$295 a loaf, bakers say that the new price still fall short of what is needed to make their business economically viable.

What the new official price of bread should be is under consideration by the newly formed Interim Administrative Price Stabiliation Mechanism Committee

The government last week said it was importing 30,400 tonnes of wheat, sufficient to supply the country for more than two months. But millers said they have not yet seen any sign of the imported wheat, which could take several weeks to arrive.

An official with Blue Ribbon Foods, a miller, said the firm’s granaries are empty.

Zimbabwe's winter wheat harvest is under way, but the Grain Marketing Board said it is not sure what kind of a harvest can be expected, given the severe problems in the agricultural sector. The country's annual requirement for wheat is 400,000 tonnes.

Manager Luckmore Zinyama of Harambe Holdings, which owns Mitchells bread, told Jonga Kandemiiri of VOA's Studio 7 for Zimbabwe that the price concession to bakers is not sufficient to allow them to break even on their outlay for ingredients.


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Smuggling of Goods Crippling Economy

Zimbabwe: Smuggling of Goods Crippling Economy


The Herald (Harare)
EDITORIAL
October 2, 2006
Posted to the web October 2, 2006
Harare
THE highly organised smuggling of goods in and out of the country is a serious problem crippling our economy.
The impact of this vice is quite huge and should not be under-estimated at all as it is prejudicing the Government of many millions of dollars in lost revenue every year and costing job opportunities.
Key economic areas of gold, textiles, cigarettes and fuel are some of the most affected where smuggling is deeply rooted.
What makes the situation worse is the fact that some law enforcement agents in the police and the Zimbabwe Revenue Authority who the State entrusts with fighting this problem, have, instead, been found on the side of smuggling syndicates.
With gold, there have been reports of rich smuggling barons who use their financial muscle to pay bribes to law enforcement agents for easy passage of the precious metal out of the country.
The country's official gold output and earnings have declined substantially over the past months owing largely to smuggling.
The smuggling of cheap second-hand clothes into the country is also rife along the eastern border, where the smugglers use efficient methods to bring the clothes into the country.
Several hundreds bales of second-hand clothes worth millions of dollars are smuggled through illegal entry points along the long stretch of the Zimbabwe-Mozambique border.
Once in the country, the clothes have a ready market and are sold cheaply from homes and at flea markets.
Imported second-hand clothes attract very high duty as a way of protecting the local textile industry but smugglers evade paying the duty and dump the clothes at cheap prices.
The shortage of fuel in the country has also seen some people getting involved in the smuggling of diesel and petrol, where it is sold on the black market above the gazetted prices.
Other cases of smuggling concern imported vehicles, where fraudulent registration is done to evade payment of duty.
The other incidents also concern large quantities of cigarettes, maize meal and sugar, which are being smuggled out of the country.
This is prejudicing the State of much-needed revenue as earnings from the smuggled goods are not subjected to any form of taxation.
We believe the best way of dealing with smuggling is to hit the nerve centre of the vice. In this case, it is the people behind the smuggling syndicates.

Those caught have been getting away with it after just paying some fine. But the moment they walk free, they continue with their business.
And unscrupulous law enforcement agents caught aiding and abetting smuggling syndicates must not be spared by simply discharging them from duty.
We believe smuggling is economic sabotage, which should be regarded as a serious crime. Therefore, only lengthy custodial sentences will serve as a deterrent measure to both those convicted and would-be smugglers.


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Fury at Mugabe Approval of Police Beatings

Institute for war and peace reporting
!-- -->

Zimbabweans have been enraged by their president's support for police violence.

By Sheila Pasi in Harare (AR No.78, 02-Oct-06)

Ordinary Zimbabweans are angry with President Robert Mugabe for what many are describing as unforgivable and irresponsible statements he has been making following the bone-breaking assault last month by his security forces on national trades union chief Wellington Chibebe and other top union leaders.

Addressing a rented crowd bussed to Harare Airport, on his recent return from addressing the United Nations General Assembly in New York, Mugabe said he would continue to sanction the beating of labour leaders who disregard police orders.

Rejecting widespread international condemnation of the assaults on the Zimbabwe Congress of Trade Unions, ZCTU, leadership, Mugabe said his government has no apologies to make. "There are some [foreign countries and human rights groups] who think we are not independent, who think they can organise demonstrations and look for pot-bellied people like Chibebe to demonstrate.

"We cannot have a revolt to the system. Some are crying 'We were beaten up'. Yes, you were beaten up. When the police say move, move. If you don't move, you are inviting police to use force."

Chibebe, the ZCTU's secretary-general, remains in hospital with critical injuries sustained when police attacked him and top colleagues as they began a small street protest in mid-September against low wages and the government's failure to provide anti-retroviral drugs for Zimbabweans who are dying from AIDS at a rate of more than 3,000 a week.

Chibebe suffered head injuries, a broken arm and hand, and extensive bruising in the street assault and subsequently in a police cell. Doctors report that they may have to remove one of the trade union chief's eyes. His colleagues also sustained broken limbs and other injuries.

Stopping in Sudan on his way back home from New York, Mugabe dismissed the trade unionists' demands as "nonsensical" and "stupid", and warned the United States, Britain and other critics to "keep you noses out of Zimbabwe". "Leave our politics to the people of Zimbabwe. You, Mr Bush, you, Mr Blair, should keep out of Zimbabwe. They [protesters] will be beaten up, so there is no apology for that," he said.

In interviews with IWPR, Zimbabweans said they were deeply affronted by the President's remarks.

This anger was particularly strong among elderly women who said 42-year-old Chibebe could have been one of their sons.

Seventy-seven-year-old Mbuya Mary banged the ground furiously with her walking stick as she said, "I can't believe that Mugabe can be so heartless about a person who is lying in hospital and could die from the beatings."

Mbuya Mary, one of about a dozen other elderly women at a funeral wake in the working-class district of Kambuzuma, to the west of Harare, the national capital, said, "What makes me so angry is that the demonstration was not political but was about the poverty we are all wallowing in. We are suffering and when our children want to ask for better working conditions and better wages, they get beaten up. It was not just an ordinary beating; to me, it looks like they wanted to kill him [Chibebe].

"Imagine a person representing the views of many people being beaten up like that in an independent Zimbabwe. My friends, I grew up in the colonial era. The nationalists were not subjected to such beatings during that time. Mugabe himself was a political prisoner. Wasn't he allowed to study while in prison? (Mugabe obtained three University of London degrees while imprisoned in the former Rhodesia). Was he beaten up like what they did Chibebe?"

Sixty nine-year-old Amai va Rose was equally angry with Mugabe, whom she had supported for more than three decades. "Chibebe could have been my son," she said. "How could they beat up someone like that? We haven't seen this happening before. What they did to Chibebe is what in Shona we call 'kafira pamberi' (meaning injuries so bad they can result in death)."

David Chigada, a Kambuzuma schoolteacher, said the assault on Chibebe conjured up memories of South African nationalist and Black Consciousness leader Steve Biko's death in police custody in 1977 during the apartheid era. "The difference with Chibebe's case, and what makes it more painful," said Chigada, "is that in Zimbabwe it was black-on-black violence in an independent country which claims to be a better democracy than President George Bush's United States of America.

"There are other similarities between the beatings of Biko and Chibebe. The security agents in both cases were brutal, severe and savage."

Amai Grace, 65, said she believed that Mugabe certainly has apologies to make "not to the United States or Britain, but to we Zimbabweans.

"Only if you could be in my head, you could see how angry I am. And if you could get into my heart, you will see how sad and mournful I am for Chibebe and his family and Zimbabwe. To have a leader defend violence perpetrated by people who should be protecting the public is unbelievable and sad. Mugabe's total disregard for his people's suffering is shocking. He doesn't respect his people. That makes him dangerous."

Another elderly woman suggested that perhaps only a demonstration of grandmothers and mothers to protest against the assaults and demand an apology from Mugabe would work in the present political climate. "We will see what he will do to mothers and grandmothers of Zimbabwe," she said. "Will he tell them to beat us up as well? Seriously, this is the time that women's organisations should act. If Mugabe gets away with this, we will have created a monster."

Elsewhere, Joram Nyathi, editor of the weekly Zimbabwe Independent, one of the few remaining non-government newspapers, wrote in his regular column, "Who will protect us from a vengeful police force so emboldened by a culture of impunity that they can break people's skulls in broad daylight without any fear of prosecution?

"We live under very trying times as a population terrorised by what in a democracy should be a people's police force, not a colonial institution."

Nyathi said the attack on the trade union leaders was no aberration. He said that on the same day some 70 other ordinary workers supporting the trade union movement had also been picked up and severely assaulted. However, they got no publicity.

"Police brutality has become the norm, especially among ordinary civilians who take the beatings for granted," wrote Nyathi. "When a president extols the virtues of police savagery it fills me with a sense of dread. Zimbabweans must be afraid, very afraid indeed. Mugabe has just opened for us the gates of Hell."

One prominent critic, however, said the trade unionists' attempted protest had been "just plain dumb". Professor George Ayittey, writing in the Zimbabwe Independent, said, "ZCTU leaders don't seem to have learned anything at all from their own experience or that of other African countries. Just because protest marches worked against the white colonialists, who were 'frightened' by a huge mass of black people, does not mean they will work against black neo-colonialists."

Professor Ayittey, the Ghanaian president of the Washington-based Free Africa Foundation, said the ZCTU leaders appeared not to have heard about security forces in other African countries arresting leaders of protest marches, beating up demonstrators and even opening fire on them.

"Have they not followed events in Ethiopia where 45 were killed when police opened fire on demonstrators protesting fraudulent elections?" wrote Ayittey. "The bottom line is this: if opposition groups in Zimbabwe cannot shut down the civil service or think imaginatively of effective ways of instituting political change, they will be politely ignored by the international community and the people of Zimbabwe will continue to suffer. Protest marches, appeals and petitions don't work against a regime that is blind and stone-deaf."

Sheila Pasi is the pseudonym of an IWPR journalist in Zimbabwe.


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Zimbabwe loses 30,000 cattle to diseases

reliefweb


Harare, Zimbabwe (PANA) - More than 30,000 cattle have died from various diseases in Zimbabwe's southern province of Masvingo in the first eight months of the year, agriculture officials said Monday.

The diseases including foot and mouth and anthrax, have broken out in many parts of the country, but this is the first official provincial death tally.

The officials blamed the cattle deaths on lack of vaccines, due to non-availability of foreign currency.

Masvingo provincial veterinary doctor, Charity Sibanda said many districts in the province had been hit by cattle diseases.

"This year we lost approximately 30,000 cattle to a combination of diseases in the first eight months. The diseases that claimed most of the cattle were lumpy skin, anthrax and blackleg. This adversely affected efforts by the province to restock its beef herd," she added.

The province, with an estimated herd of 800,000 cattle, is a major beef source for the country.

Frequent disease outbreaks as well as intermittent droughts and government's controversial ejection of white farmers to resettle black peasants, have reduced the national cattle herd, while the European Union and other markets have also had to ban beef import from Zimbabwe because of the recurring episodes of the cattle diseases.


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INTERVIEW-World ignoring Zimbabwe humanitarian crisis-MP

Reuters
Mon 2 Oct 2006 12:51 PM ET

By Jeremy Lovell

LONDON, Oct 2 (Reuters) - Zimbabwe is being buried under a humanitarian crisis of massive proportions but the world is looking elsewhere, an opposition parliamentarian said on Monday.

David Coltart, a white member of Zimbabwe's divided Movement for Democratic Change (MDC) party, said people were dying in droves due to a combination of very high numbers of AIDS cases, inflation running at 1,200 percent and widespread malnutrition.

"We estimate that 3,500 people a week are dying due to the convergence of these three factors. Average life expectancy of a woman has dropped to just 34 years. The cemeteries are filled to overflowing," he told Reuters.

"I am appalled how much Zimbabwe has fallen off Europe's radar screen," he said on a whirlwind visit to Europe. "I understand the preoccupations with Iraq, Afghanistan and Darfur, but our people are dying like flies and no one seems to notice."

In June Coltart joined the faction of the MDC led by Arthur Mutambare, which broke away last November from the main party led by Morgan Tsvangirai. Coltart said the divided opposition was not helping Zimbabwe.

"Divisions in the opposition have exacerbated the problem because we no longer have a coherent voice to speak about the atrocious situation," he said.

But he was dubious about the chances of the MDC, the main opposition to Robert Mugabe's ruling ZANU-PF after 26 years in power, healing its rifts any time soon.

Mugabe set out in 2000 on wholesale nationalisation of the white-dominated commercial farming sector, the backbone of the once-thriving agrarian economy of the former British colony of Rhodesia.

But in the process food production and the economy has crashed, bringing with it widespread starvation.

Coltart complained that in an effort to offset some of the worst effects of the economic meltdown, Mugabe was selling off state assets at bargain basement prices to China.

"The Chinese are giving balance of payments support to a completely discredited regime," he said. "They are participating in a fire-sale. There are deals in the minerals and energy sectors but we don't know on what terms."

"All we see in return is third rate shoes and clothes which are undermining our textile industry, and a few fourth rate roads which rapidly become impassable," he added.

Mugabe justifies the land reform as reversing the legacy of colonisation and blames the economic disaster on outside meddling.

Mugabe is due to stand down at presidential elections in 2008, but there has recently been speculation that to hang onto power a little longer he might move the date to 2010 on the pretext of making them coincide with parliamentary elections.




© Reuters 2006. All Rights Reserved.


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Zimbabwe: Rates Remain Suppressed



The Herald (Harare)
October 2, 2006
Posted to the web October 2, 2006
Harare
BROAD-BASED gains continued to pull the stock market northward last week, as rates on the money market remained suppressed in comparison to the high inflation rate.
Last week's rally defied predictions buy some analysts of profit taking creeping into the market with the main index adding on 17,44 percent in the first four trading days of the week while the minings gained 10,82 percent.
  
The Industrial Index shrugged off emerging signs of profit taking, to close the day 1,78 percent firmer at 317 028,32 points on Monday, while the Mining Index eased 1,30 percent to 173 280,45 points,
on the back of losses recorded in Falgold and Rio Tinto,
despite gains registered in Bindura.
After adopting the low interest rate policy in July the Reserve Bank reintroduced the three-month paper which had literally vanished from the market since August 4.
As expected, there was a stampede for the paper as total bids of $12,1 billion were received, yet the central bank only wanted and allotted $1 billion. Surprisingly, one bank went in at 200 percent and obviously got nothing.
The highest tendered rate was 200 percent while lowest was 50 percent.
From the look of things, this tender was only meant to align rates as happened to the six- month and one-year papers.
"Given these rate reductions, the market needed also to determine the rate for the three-month paper. Many treasurers could not get the paper as they continued to cruise in their high interest rate mood," said Kingdom Stockbrokers.
Meanwhile, short-term rates continued subdued on the money market due to continued easier liquidity conditions emanating from heavy Treasury bill maturities.
As a result there is scope for banks to revise their minimum lending rates further down
from the current levels of around 295 percent to below 270 percent.
Due to the central bank's persistence with its stance of issuing long-dated paper investors are now finding it more preferable to place their funds in long-term paper, albeit at depressed interest rates than to have their funds tied up in these zero percent Non Negotiable Certificates of deposit. Traditionally, any end of day surplus balances were simply locked into the seven-day Non Negotiable NCDs and this resulted in the money market being liquid each and every week when they mature.
On the international markets US stocks rallied on Monday, with the Dow Jones Industrial Average and the Nasdaq Composite gaining 0,59 percent and 1,36 percent respectively, while the Standard and Poor's 500 Index put on 0,88 percent to close at its highest level in more than five years, as investors appeared optimistic that the continued decline in oil prices would suffice to sustain consumer spending.
European stocks edged higher in early trade, with the London's FTSE 100 gaining 0,75 percent to 5 841,90 points, while the Frankfurt's Xetra Dax added 0,66 percent to 5 940,74 points, following a positive close at Wall Street.
In Asia, stock markets ended mixed, with the Japanese and South Korean benchmarks being dragged lower by continued weakness in export-oriented shares such as Toyota Motor Corporation and Hynix Semiconductors, despite a strong finish in New York trading.
Meanwhile, in afternoon trade, the South Africa's JSE All-share index was indicated 0,03 percent weaker at 22 001,56 points, on the back of weaker commodity stocks.
Wall Street closed higher for the third day in a row on Wednesday, with the Nasdaq Composite and the Standard and Poor's 500 Index gaining 0,09 percent and 0,02 percent respectively, while the Dow Jones Industrial Average put on 0,17 percent to 11 989,24 points, after a report showing an unexpected rise in new home sales for the month of August, overshadowed concerns raised by data depicting a fall in durable goods orders.

European stock markets were indicated firmer in early trade, with the London's FTSE 100 gaining 0,48 percent to 5 958,50 points, while the Frankfurt's Xetra Dax advanced by 0,15 percent to 5 998,98 points, with gains inspired by a firm close in New York trade, and as commodity stocks, such as British Petroleum, staged a major rally after oil prices rebounded from previous lows.
Asian markets ended broadly higher for the second consecutive day, as investors piled into Honda Motor Corporation, BHP Billiton Ltd and other energy-related shares, amid a rebound in crude oil prices.
Meanwhile, in afternoon trade, the South Africa's JSE. All-share index was indicated 0,54 percent firmer at 22 369,49 points, sustained by stronger commodity stocks.


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Zimbabwe: Four Rhinos Handed Over to Conservancy



The Herald (Harare)
October 2, 2006
Posted to the web October 2, 2006
Zvamaida Murwira in Victoria Falls
Harare
GOVERNMENT has handed over four rhinos to a private conservancy as efforts get underway to reintroduce the animal in this resort town to boost tourism.
The Minister of Environment and Tourism, Cde Francis Nhema, handed over the four rhinos to Rani Resorts, a private conservancy, in a move which sees the animal make a comeback after 20 years.
  
The development is expected to generate more foreign currency as tourists come to this resort town to view wildlife, which until recently had no rhinos.
"I would like to believe that Victoria Falls tourism will benefit significantly from this addition to our wildlife and will go a long way in supporting the national efforts to revive tourism in Zimbabwe," said Cde Nhema at brief ceremony.
"It has been 20 years now since there was any rhino in the Victoria Falls area and we hope this reintroduction is the beginning of a fruitful exercise to repopulate, not only this reserve, but also the greater Victoria Falls area."
The rhino joins the elephant, lion, leopard and buffalo to complete the "The Big Five" line up.
The transfer of custodianship to Rani Resort followed a due diligent study by the Parks and Wildlife Management Authority to ascertain if the conservancy had adequate facilities for the habitation of rhinos.
"I am informed that this organisation was chosen for custodianship of these rhinos after careful ecological research and study of existing wildlife as well as security concerns," said Cde Nhema.
"I am happy to note that the general condition of wildlife here is healthy and that suggestions by the Parks and Wildlife Management Authority's specialists were taken on board.
"I therefore would like to see this partnership between Parks and Wildlife Management Authority and the Victoria Falls Game Reserve continue and even include other endangered species."
Cde Nhema urged the tourism industry to assist the partnership to succeed.
"I would like to take this opportunity to appeal to all stakeholders, tour operators and other industry players to give full support in the implementation of this project. The issue of security for these animals cannot be over-emphasised and as a ministry we would like to see all of you contributing towards their security as any losses will be ultimately your losses."
The minister commended owners of the conservancy for their long-term investment in the country's tourism sector.
Chairman of the conservancy, Mr Adel Aujan said Zimbabwe could now invite the world not only to see Victoria Falls but the Big Five wildlife animals. He said they were looking forward to introducing more animals in their conservancy.
Rani Resort director Mr Tirivanhu Mudariki urged tour operators to take the leading role in marketing the country's tourism and not just left it to the Government.
"Everyone is an ambassador of Zimbabwe, we will do our best to ensure the security of these rhinos are safeguarded," he said.
Parks and Wildlife Management Authority public relations manager Retired Major Edward Mbewe said the conferment of custody of rhinos to private players was one of strategies the authority introduced to enhance their breeding.

"We remain the owners of these rhinos and we will continue to give custody those people who demonstrate that they are capable of breeding them well, we look at security, fencing, feeding and other factors," said Rtd Maj Mbewe in an interview.
"The population of rhinos is outgrowing the areas they are living in, so we are identifying private players who can keep them well."
Matabeleland North Governor and Resident Minister Cde Thoko Mathuthu witnessed the ceremony.


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