There is plenty of money in Zimbabwe, many people rich: Zanu PF claims


Zanu PF says it is not feeling the heat as the economy continues to crumble. Party spokesman Rugare Gumbo said in an interview that there was plenty of money in the country.

“No, not at all. There is no heat at all. If anything, it’s quite cool up there. Some talk of people getting poorer and poorer which is not correct. It’s absolutely not correct. Yes, we have tight liquidity conditions as a result of the fact that we are not able service our loans. You get loans but you are not able to service them. Obviously, if we do not service these loans money becomes tight; there is no way you can give what you don’t have. So that is what is creating all these problems.

It’s not that there is no money in Zimbabwe. There is plenty of money. Look at the cars that are there, look at the construction of houses – money is there but people are not in the first place banking. They are hoarding. And if you are keeping money in your house, in your ceiling, there can’t be money in the market. So our people have to learn to save, to bank. And the banks also have the responsibility to give back to people what they have invested, or what they have saved. But money is there. There is plenty of money in Zimbabwe.

Whether you like it or not it’s there but it’s just that we are not channeling it in the proper way. Once we create an environment which ensures that whatever you have you have got you get something back, there is no problem.

I agree with President Mugabe when he says the economy is showing signs of recovery. I have spoken to the RBZ governor Dr Mangundya and he assured me that things are moving in the right direction, the financial sector is performing reasonably well, the banks are in sound condition, they could perform better

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