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Zimbabwe: Mnangagwa urges citizens to bear the ‘tax pain’.

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Zimbabwe’s president Emmerson Mnangagwa on Monday urged citizens to bear the pain of new taxation and other economic reforms introduced by his finance minister, in order to revive the economy.

Finance Minister Mthuli Ncube on Oct. 1 announced a 2 percent tax to be levied on mobile and card payments and bank transfers above $10 with exceptions for foreign payments and transfer of government funds.

The tax was protested by individuals and companies, who complained that government has not demonstrated accountability for tax revenues and previous sacrifices demanded of them.



The new tax, which is expected to raise nearly $2 billion annually would facilitate government projects in the roads, health and education sectors, according to Ncube.

Last week, the effects of the tax were felt with fuel shortages, and a hike in prices of basic goods and medical drugs.

Mnangagwa acknowledged the difficulties faced by Zimbabweans and pledged that government would work to minimise the effect of the new measures.

‘‘We are already taking the lead by cutting back on unnecessary spending. The only way to a stronger economy is to restructure, rebuild and reform,’‘ Mnangagwa said.

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Mnangagwa added that government would have to take ‘painful measures’ in order to compensate for the stagnation of the economy over the last two decades.

A 388-page government economic plan released by Finance Minister Ncube on Friday shows the government plans cuts in spending, borrowing and the amount it spends on the civil service.

The report also outlines plans for privatisation and the closure of state-owned firms, among several other reforms to improve the economy.

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Motherland News

CAF Sidelines Nigerian Centre Referees for 2019 AFCON

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Out of the Twenty-seven centre referees penciled down for the 2019 African Cup of Nations, countries like Burundi, Mali, Zambia and Sudan are represented on the list, but no Nigerian referee was selected for the big occasions.

However, only one assistant referee from Nigeria named Baba Adel was listed among the twenty-nine assistant referees selected by the African Football Governing Body.

The competition will be held from 21 June to 19 July 2019, as per the decision of the CAF Executive Committee on 20 July 2017.

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Motherland News

Nigerian Govt Seeks U.S.$1 Billion Loan for Power Sector Again.

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Apart from the accumulation of 2.74 trillion Naira the Nigerian government under the watch of President Olusegun Obasanjo, President Umar Yaradua and Goodluck Jonathan have differently spent on the development of the Power sector, Federal government have commenced discussion with the World Bank with the hope of taking a $1 billion loan.

The Minister of Finance, Mrs. Zainab Ahmed made this disclosure at the press briefing marking the end of the 2019 Spring Meetings of the World Bank and the International Monetary Fund, IMF, in Washington DC, USA, yesterday.

Meanwhile, The Federal Government have allegedly spent another 900 billion Naira within the last four years through the ministry of Power and Steel, under the watch of Babatunde Fashola.

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