1. Zimbabwe’s biggest financial services group, @OldMutualZW has had to issue a statement over its status following threats from ZANU PF. Interestingly, it is also “seeking clarity on the matter”. The Mnangagwa regime’s capacity for self-immolation is simply astounding. 
2. On Friday, ZANU PF announced that it had endorsed a decision to “eject Old Mutual from the financial system”. This was vague & it was interpreted by some media to mean Old Mutual had been “delisted” from the Zimbabwe Stock Exchange. It was certainly a big threat.
3. Just why & how a government facing severe economic pressure can “eject” arguably the biggest player in the financial markets beggars belief. Old Mutual is a giant in insurance, securities investments, property, banking, etc. It even has shares in government’s @Zimpapers group
4. Loud voices in ZANU PF have been gunning for Old Mutual for some time. Chris Mutsvangwa has long aimed his arrows at it, accusing the Old Mutual Implied Rate - a de facto exchange rate based on the share price of the dual-listed giant - of fuelling the parallel Forex rates
5. This is almost like blaming the scale for presenting weight figures when one weighs himself. It doesn’t matter whether you use metric or imperial units, the scale simply measures your weight. Delisting Old Mutual shares will not arrest the colllapse of the ZimDollar.
6. While Old Mutual rightly issued a statement to allay fears, it’s also evident that it is still at sea on the issue. This uncertainty is bad for the economic environment. It communicates a message of insecure property rights, already worse after the ZSE was closed by decree.
7. The CEO of the ZSE was also taken by surprise by ZANU PF’s statement, just like 2 weeks ago when the government shut down the ZSE. How can the ED regime say Zimbabwe is open for business when it’s literally persecuting the biggest businesses (it’s also gunning for EcoCash)?
8. You would think the regime is in a race to destroy itself and leave Zimbabwe an empty shell in the process. 90% of the economy has been informalised by ZANU PF’s misrule. Now it’s going for the remainder. It’s self-defeating. Only the people can stop this mad show.
