Zimbabwe Defence Forces commends business for adopting realistic prices


The Zimbabwe business community has welcomed the military intervention staged by the Zimbabwe Defence Forces and has “responded overwhelmingly to the call to normalise socio-economic effects to the population of Zimbabwe by adopting realistic prices”.

This was said by the ZDF in a statement yesterday in which it expressed its solidarity and a drive towards a peaceful, united investor friendly and prosperous Zimbabwe.

The ZDF took over the running of the country on Wednesday to prevent it from being taken over by “criminals” and counter-revolutionaries but insisted that this was not a military coup.

“We are only targeting criminals around (President Mugabe) who are committing crimes that are causing social and economic suffering in the country in order to bring them to justice,” ZDF said.

“As soon as we have accomplished our mission we expect that the situation will return to normalcy.”

The international community as well as the African Union and the Southern African Development Community does not entertain any military coups, hence the ZDF is negotiating for Mugabe to accept to step down.

The Zimbabwe Stock Exchange has responded positively to the intervention though some people are losing money.

Its market capitalisation dropped by $1.2 billion on Wednesday in what is seen more as a correction in anticipation of things getting back to normal.

Yesterday it dropped by $1.5 billion.

There was even positive sentiment in neighbouring South Africa where the bond market was firmer.

Business Day quoted FXTM analyst Lukman Otunuga as saying: "A change of guard in Zimbabwe may have the potential to precipitate an economic turnaround and this has the potential to spark growth locally and in SA."


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The Insider

The Insider is a political and business bulletin about Zimbabwe, edited by Charles Rukuni. Founded in 1990, it was a printed 12-page subscription only newsletter until 2003 when Zimbabwe's hyper-inflation made it impossible to continue printing.


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