The new minister of finance wrongly defending the RBZ relative to black market funding?

The new minister of finance wrongly defending the RBZ relative to black market funding?
image credit: Newsday Zimbabwe Facebook Page

Quoted in several utterances, the new minister of finance Mthuli Ncube distanced the Reserve Bank of Zimbabwe (RBZ) from allegations that it is involved in funding the black market activities with money or bond notes by the masses . The nation now ponders, "Is the new minister of finance wrongly defending the RBZ?"

The TechBlog published an article citing different black market activists & suspects a week ago and the RBZ was part of the list. Interestingly the new findings from investigations done by the once appointed chairman of the Ministry of Finance communications taskforce Acie Lumumba, confirms the same. Lumumba says that the top RBZ officials are responsible for funding and fuelling the cash crisis and money changing deals that  are fast crumbling the economy.

At one time, the former minister of finance Patrick Chinamasa said that RBZ was not the only source of newly printed bond notes. Yes it may be true looking at a case that previously went to the courts of fake bond notes printing. But according to Lumumba, the RBZ top directors are also responsible for the printing of the bond notes. Even if they are not, "Are they not wrong for compromising the integrity of the bond notes by allowing illegally printed notes to circulate freely?"

Is the new minister of finance wrongly defending the RBZ then? My answer is yes and no. Yes he is because he has direct control over the RBZ officials, he is in control of that portfolio and the first rule of leadership is that everything wrong that happens under your portfolio is your fault. I also say no because even if he is aware, he cannot do this alone. Why are other key players in the government not visibly helping him? May be these government officials are also indirectly involved.