African News

Inflation Nightmare Returns To Haunt Zimbabwe

Published

1 year ago

April 24, 2019

ANN

Inflation nightmare returns to haunt Zimbabwe

The price of bread almost doubled for Zimbabweans last week, as the inflation nightmare that marked the rule of long-time authoritarian leader, Robert Mugabe, returns to haunt his successor, Emmerson Mnangagwa.

There have been warnings of the mental and physical toll the rampant price increases will have on Zimbabweans after the cost of a loaf of bread basically doubled to three and a half dollars, and a tub of butter shot up to $17 from eight fifty.

READ: Mugabe Was Misled Over $100m Chinese Facility, Officials Reveal – Report

Mnangagwa pledged to revive his country’s moribund economy when Mugabe was toppled in 2017 after 37 years in power.

But after the central bank unveiled a new monetary policy in February, introducing a new local currency, prices of goods and services have skyrocketed at rates unseen in a decade.

READ: Cholera Outbreak: WHO Supports Zimbabwe With 1.4m Vaccinations

The disparity between the official and parallel market exchange rates has been rapidly widening, triggering price hikes of up to 300 percent.

The chief of the Zimbabweauthoritarian leader, Robert Mugabe, says he is angry at the government for “putting on a brave face and giving the impression that the economy is on a rebound, but on the ground things are going in the opposite direction.”

READ: Zimbabwe Parliament To Repeal Controversial Media Laws

The crisis has brought back memories of a decade ago when hyperinflation peaked at a grotesque 500 billion percent, wiping out the Zimbabwean dollar.

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African News

Zimbabwe Intercity Travel Resumes

Published

3 hours ago

September 30, 2020

ANN

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African News

Uganda ‘To Begin Human Trials’ Of COVID-19 Vaccine

Published

15 hours ago

September 29, 2020

ANN

Uganda 'To Begin Human Trials' Of COVID-19 Vaccine

Uganda is set to start human trials of a COVID-19 vaccine starting in November as the country continues to fight against the pandemic.

The vaccine trials are a partnership exercise between Uganda’s Virus Research Institute and the United Kingdom’s Imperial College.

READ: Zimbabwe Parliament To Repeal Controversial Media Laws

Uganda has recorded more than 7,000 coronavirus cases and 75 fatalies so far.

According to BBC, Monica Musenero who is the head of a presidential taskforce on epidemics is quoted as saying the first trial will be conducted on 10 Ugandans.

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She added that if successful, a second trial will involve about 100 to 200 persons followed by a final trial of between 1,000 and 3,000 persons.

African News

WFP Seeks Aid For South Sudan Flood Relief

Published

18 hours ago

September 29, 2020

ANN

WFP Seeks Aid For South Sudan Flood Relief

Heavy seasonal rainfall, followed by devastating floods in South Sudan since June, have impacted more than 700,000 persons across the country. A large part of the nation is reported to be under water with the Nile River at its highest level in 50 years.

READ: Economic Crisis: Showdown Looms As Zim Police, Protesters Expected To Clash

South Sudan was already in a precarious situation due to food shortages from an overwhelming locust infestation and a health crisis from the global coronavirus pandemic.

The World Food Programme (WFP) says it has been providing food assistance to more than half a million persons in South Sudan’s flood-affected areas as the threat of famine increases within the country.

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A flood-displaced victim from Mathiang village says rains have destroyed everything, including houses, cattle, crops and sources of livelihood.

WFP spokesperson, Peter Smerdon says they are already under pressure in South Sudan because of conflict, high levels of displacement and, the added burden from flooding.

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World Food Programme is now seeking to raise 58 million dollars to continue providing relief.