In a baffling turn of events, Twitter recently found itself flooded with the rants of uninformed and misguided nationalist supporters who seemed to be echoing the WhatsApp experience of being overwhelmed by Zanu PF propaganda. They were vocally lamenting the actions of the country’s Financial Intelligence Unit, which, as per our sources, has been influenced by the questionable teachings of the Chitepo School of Ideology. According to these misguided individuals, this unit has managed to identify and apprehend those responsible for driving the black market exchange rate to unprecedented heights. It appears that these saboteurs, who have allegedly contributed to the failures of Zanu PF, now face a similar fate to that of the war veterans who were once arrested for protesting against their impoverished living conditions, manipulated by the opposition.
What is truly astonishing is that, contrary to what some may argue, neither sanctions nor policies like the “Look East” initiative or Pfumvudza have had a significant impact on the widespread black market rate. Instead, the economy continues to be plagued by excessive state interference, which merely serves to preserve the existing status quo while jeopardizing national sovereignty, encouraging deindustrialization, and fostering the dumping of substandard Chinese goods—factors that have been driving an exodus of intellectual talent from the nation.
Both inflation and the black market rate now share a common grievance: the ironic arrest of seemingly handpicked scapegoats, meant to pander to populist sentiments and portray Zanu PF as tough on money laundering. However, this irony does not escape the notice of these economic phenomena. Inflation and the black market rate feel unfairly targeted but have no alternative recourse. The courts, to which they are now turning for justice, are known to uphold a reputation of serving Zanu PF’s interests, dedicated to preserving a corrosive status quo and the party’s vision of a one-party hegemony, unburdened by nuisances such as accountability and transparency, which are seen as hindrances to their self-serving accumulation of power and wealth.
It is disheartening to discover that there are individuals who have bought into Zanu PF’s sterile propaganda about having successfully apprehended those responsible for distorting the parallel currency market—a claim that Zanu PF made to address the disparities between the informal and formal money markets. To the chagrin of all parties involved, the discrepancies have only become more pronounced, despite the arrests. Perhaps it is time for Zanu PF to consider seeking assistance from China in this regard?
Evidently, some self-proclaimed intellectuals appear to be oblivious to the ground realities. They fail to acknowledge that Zanu PF itself is a major contributor to the exchange rate discrepancies. The arrest of a few sacrificial lambs, orchestrated for populist appeal within a legal system designed to uphold the status quo, will not put an end to the economic turmoil caused by the ruling party. As long as Zanu PF persists in its current form, driven by its unchecked sadism and misplaced entitlement, and fixated on primitive accumulation, the issues that plague the nation will persist. True resolution can only come through comprehensive international oversight, which should pave the way for genuine reforms and halt Zanu PF’s futile pursuit of a one-party state – a pursuit that is at the heart of the current paralysis and may ultimately lead to state failure and collapse. The black market rate, as revealed in this piece, remains resolute in the face of these challenges.