September, Friday 20, 2024

Zimbabwe in awe as Mthuli Ncube awarded top spot for Africa's finance minister


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Zimbabweans are expressing astonishment at the recent announcement that Mthuli Ncube has been awarded the title of "Best African Finance Minister of the Year" despite the country's ongoing economic turmoil. Social media users have criticized the decision, comparing it to praising a ship captain for steering directly into an iceberg. The high unemployment rate, estimated at 85%, and the lack of confidence in the local currency, with up to 80% of transactions conducted in US dollars, further highlight the challenging economic situation in Zimbabwe. Reputation Poll International, an organization specializing in managing reputations, bestowed the award upon Mr. Ncube, who was appointed as finance minister by President Emmerson Mnangagwa in 2018. While Mr. Ncube expressed his delight at receiving the honor, activist Hopewell Chin'ono condemned the decision as an insult to the people of Zimbabwe. Chin'ono criticized Mr. Ncube's recent budget, calling it the most anti-people national budget the country has ever had due to tax increases and the raised passport fees, making it the most expensive in the region. Moreover, Chin'ono accused Ncube of presiding over the world's worst economy due to his misguided and corrupt policies. Zimbabwe has been grappling with economic challenges for years, and critics attribute this to mismanagement by the ruling Zanu-PF party under both Robert Mugabe and Mr. Mnangagwa's leadership. Additionally, the recent controversial by-elections held in Zimbabwe resulted in Zanu-PF winning seven out of the nine seats, leaving them three seats short of the parliamentary majority required for constitutional changes.