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Dangers of Gono’s excessive powers

THE issue regarding Philip Chiyangwa’s Pinnacle Properties getting a licence to deal in foreign currency to sell properties to non-resident Zimbabweans shows the extent to which unbridled and unconstrained power of the RBZ governor can be abused.

Mr (not Dr please!) Gideon Gono said: “It is illegal for any institution in Zimbabwe, other than Homelink (Pvt) Ltd, to enter into foreign currency deals for the purposes of purchasing or renting property.”

So “it is even illegal for” the RBZ “to enter into foreign currency deals…”

Although we are told that the RBZ are the sole shareholders of Homelink (Pvt) Ltd, why should the responsibility of dealing in foreign currency be monopolised by a company not born out of an Act of Parliament?

Following the abolition of money transfer agencies (MTAs), Homelink should also have been dissolved since it came into being and was directly linked to the existence of MTAs.

Its website www.homelinkzimbabwe.com says it currently offers money transfer services.

The transfer of money is an ordinary line of business of banking institutions. Is it now illegal to do so through them? I am confident that one’s relative can still send money through the banks.

Our legislature seems to be unsophisticated enough to deal with the RBZ governor each time they call him to appear before a parliamentary committee.

The legislative research teams seem to be either compromised or simply incompetent. The MPs allow him to lecture them and unreservedly respond to his critics without substance.

Typical of a politician, Gono did a newspaper interview speaking to himself: “I’ve no political ambitions: Gono”, (Herald, October 23).

Reading the questions, one gets a feeling that the governor crafted his own questions.

An interview is a formal meeting at which a writer or reporter poses questions to a person from whom material is sought for a newspaper story, television broadcast, etc.

The newspaper should have informed us that the following are the responses to the questions sent to the RBZ governor. There was no “voice” of the interviewer in the interview at all.

Unfortunately, he responded to the questions by going into an overdrive without ever thinking someone will find it painful to read since the length of responses was not reader-friendly.

There is also a feeling that the RBZ governor went into a panic mode if the online reports that he was summoned by the president over the Chiyangwa deal are true.

The two-page “interview” is just too much for him and normally we expect such space to be made for the president. He has such an unrestrained access to the state media — print or electronic.

We have a governor who talks too much! Compare him with his predecessors Kombo Moyana and Leonard Tsumba; Tito Mboweni of South Africa, Alan Greenspan or his successor, Ben Bernanke, of the USA.

All of them earned their doctorates of economics! Gono suffers from an inferiority complex that sees enemies all over.

He requires management by his advisor, Munyaradzi Kereke, who earned his economics doctorate.

In Japan, the Ministry of Finance is such a powerful institution. Our governor here has usurped the Ministry of Finance’s role in the economy.



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