WATCH LIVE as Gambakwe looks at the Bizarre statement by the Resrve bank of Zimbabwe who have admitted that the current ZIG exchange rate is not the real rate.

The RBZ has admitted injecting over USD 50 million to keep the ZIG stable at the current rate. The next few months will see another round of significant ZIG collapse as the RBZ fails to meet the significant demand for foreign currency.

Please watch the video above this post for more details.

Key events for today

Auxillia Mnangagwa hosted the UN forum on Gastronomy for Africa in Victoria falls
Mnangagwa officiated at the function that was attended by only two countries.

Topics

ZIG IS crashing and RBZ is trying to hold it up through manipulation

1. Market players are not accepting the ZIG
2. The RBZ’s prediction that there will be significant demand for the ZIG dur to tax payments has not materialised.
3. The RBZ has failed to put cash in the ATMs
4. There is still no formal way for retail to change small amounts into ZIG.
5. Retailers and ordinary Zimbabweans are struggling with getting change for smaller denomination transactions.

The RBZ should immediately allow the ZIG to float and normalise the cash supply through provision of cash in ATMs.

Oliver Mutukudzi knew he had a son

1. High court orders Aaron Chaka to perform a DNA to prove that he is Oliver Mutukudzi son.
2. Aaron Chaka not granted his wish to change his surname to Mutukudzi based on an affidavit.

Zimbabwe falling behind in development

Zimbabwe not developing under Mnangagwa and investors not finding long term value in the country.

1. Mnangagwa trying to drive development from government, instead of a private sector led development.
2. Mnangagwa failing to create an atmosphere of peace and dialogue.
3. Zimbabwe systems have failed.
4. Mnangagwa’s people chicken out of invitation to Gambakwe to view the SADC facilities.

South African businessman Kevin Naidoo was released after a ransom of R10 million was paid
1. Naidoo was released after 6 days
2. Naidoo was kidnapped in broad daylight in Gqeberha
3. Naidoo is the deputy chair of the Nelson Mandela bay business chamber
4. A Nissan NP200 bumped into his vehicle and when he got out to investigate the damage, another Bakkie with five men arrived who took Naidoo.

Mutale Mwanza to attend the Miss Teen of the Universe in Bulawayo
Mutale Mwanza is a Zambian Media personality
Miss Teen of the universe Zimbabwe is being hosted by ZANU-PF aligned actors in Bulawayo on the 3rd of August