Five take aways from Zimbabwe’s 2018  budget

Finance Minister Patrick Chinamasa yesterday presented the first budget under the presidency of Emmerson Mnangagwa, seen as key to Zimbabwe’s economic recovery by restricting thresholds of the controversial Indigenisation Act to platinum and diamonds while re-engaging foreign debtors on the 2015 Lima debt clearance plan Here are five takeaways: The Indigenisation albatross Chinamasa took a hammer to the Indigenisation and Economic Empowerment Act, passed in 2008 by Robert Mugabe and has been key to his reelection in the 2008 and 2013 elections.

Zimbabwe to carry out lifestyle audits for public office holders

Finance Minister Patrick Chinamasa today said the government will next year regularise life style audits of all public office holders to ensure that their lifestyle is commensurate with their level of income.  “Where it is palpably manifest that their asset base is inconsistent with their level of income, it must be incumbent upon that officer to give an account of their sources of income justifying their wealth,” Chinamasa said in his budget presentation.