Madness in Zimbabwe

It looks like the Zim government has finally lost it. The government just burned down 6 miles (6 miles!) of curio stands. Of course, I’m sure these people were a public nuisance and deserved it especially since there are so many jobs in the formal sector with the economy doing so well and all.

Here’s a couple of articles on this debacle:

For those who don’t know, I spent almost a year in 1999 in Zimbabwe. Zimbabwe once the bread basket of Africa is such an incredible place. It hurts me deeply to see what African leaders can do to their own people. It’s hard not to be jaded.

Here is a particularly upsetting excerpt:

Driven to tears

I am suffering even more than before now.

A looted supermarket in Harare after hundreds of residents rioted after police destroyed street stalls in an ongoing crackdown on vendors and other illegals in the capital (AFP/Getty Images)
Edwell fears his problems will affect his son’s future

My family is suffering because I am not doing anything.

I am not very busy, sure.

I charge Z$15,000 ($0.26) to fix heels and for soles it is about Z$35,000 ($0.60) and now that I am hardly doing anything I am crying.

I recently had to buy my 15-year-old son some things for school. All I could afford was his books, a new pair of shoes and socks and some short trousers and it came to over Z$200,000 ($3.60).

I still have to pay his school fees for this term which come to Z$350,000 ($6.20).

I don't know how I will be able to.

Editors note: When I was in Zimbabwe, the Zim dollar was 50-1 to the US.

The Africa You Never See
After posting the links about Zimbabwe, I thought it may be good to also post this article about business in Africa. Did you know Botswana has an A+ credit rating with some of the highest per capita savings rates in the world or that the Ghanian Stock market returned on average 144% last year (highest in the world!)? Neither did I. If you get the chance please also read this great article.

The Africa You Never See — By Carol Pineau

Related Website: AfricaOpenforBusiness.com

2 Comments »

  1. mike berg Said,

    May 31, 2005 @ 9:54 am

    Hey,

    Were you ever able to get in touch with Vernon, I was wondering if he had contacted us in part because of the current situation in Zimbabwe?

    Mike

  2. Blair Stannard Said,

    June 21, 2005 @ 11:04 am

    In May 2005, the Zimbabwe government was forced, by outside pressures, to once again devalue the Zim Dollar by 90%. But things are even worse than that.

    The OFFICIAL exchange rate is now about 9,000 Zimbabwe Dollars per 1 US Dollar. However, the free market rate is about DOUBLE that - with 1 US Dollar buying you about about 18,000 Zim Dollars. [When the Rhodesian (later Zim) Dollar was first created in the 1970’s, it was worth about $1.50]

    Soon, the Zimbabwe government will make the previous (ie Mobutu) government of Zaire look like financial wizards. Sadly, every time someone says “It cannot get any worse for Zimbabwe.” it does.

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