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22 Mar, 6 tweets, 3 min read
1/6 I've been calling for this for some time now. Good move by @ReserveBankZIM. Commendable transparency. Since my tweets about corruption @ auction, though, RBZ has been issuing statements claiming they're investigating

1. Fuel sector

2. Banks colluding w/abusers....
2/6....but the abuse is still being aided & abeted. RBZ now admits it has evidence of banks extending overdrafts to abusers to access forex @ auction even though rules say a bidder should have at least 50% of ZWL needed when they come to auction. RBZ has identified these...
3/6...banks & the Co.s. Why is @MetbankLimited still allowed to come to auction? Why have @CBZHoldings, @ZB_Bank, @POSBZimbabwe when their Mgmnt & staff have been proven to be selling forex from auction on black market to not only fund overdrafts but also externalise the forex?
4/6 I'll do a thread later in the week on the auction abuse, now an industry in its own right. The auction is a good platform, largely working as it should and helping to stabilise the economy, bt the continued abuse, if industry/banks get away with it, will embolden others,...
5/6 ...leading others to think it more profitable to be corrupt abusers of the platform than use funds for intended purposes. Already, 4 members of @czionline have established a forex auction "stokvel" with the sole purpose is to launder their ZWL through @ auction rate through..
6/6 ...the auction. This multiplies their US$s by around 40% every week without every producing anything or contributing to the economy in any way, @Jamwanda2, @MthuliNcube, @GGuvamatanga

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More from @PriscaMutema2

Prisca Profile picture
19 Feb
1/12 THREAD!!!🔥🔥🔥 (learnt that from @matigary)

So, it's become the norm for the government of Zimbabwe to respond to my exposés by making preemptive public declarations or taking action that actually curtails further and deeper investigation. For example:
2/12

When I exposed the ZAMCO scam, Finance Minister Mthuli Ncube, responded by ordering ZAMCO to stop assuming any more private sector debts with immediate effect. No investigation was made into the bigwigs whose bank loans had already been taken over and paid for by...
3/12

...taxpayers. At least the theft was ended, right? But what about accountability? Taxpayer money (through Treasury Bills) was used to let corrupt, connected people and companies siphon borrowed US$ out of the country, buying property and fattening offshore accounts.
Read 12 tweets
Prisca Profile picture
11 Jul 20
1/8

Problem, @RewardKangai, @matigary is: it's a network, clerks have their corrupt deals which are protected by their supervisors, who have their own corrupt deals, which are protected by managers, who have their own corrupt deals, which are protected by directors, who have..
2/8

..own deals, which are protected by PermSecs, who have their own deals, which are protected by Ministers, who have their own deals, which are protected by The Office of the President & Cabinet. When go you after 1 layer, you trigger the defense mechanism of the whole chain.
3/8

So, when you decide to go after 1 layer, be prepared & be armed to burn the whole system down! This is why the tone from @edmnangagwa now is encouraging: those exposed no longer have the automatic protection of the highest office in the land. BUT...
Read 8 tweets
Prisca Profile picture
23 Jun 20
1/13 This is a shockingly false statement & @BusisaMoyo's response to this view is also incorrect. The ONLY reason "the economy stopped trading 4 yrs ago" was becoz Mangudya started printing electronic US$s to replace the physical US$s he was stealing from everyone's bank acc's.
2/13 When we "dollarised" in 2010, there was no forex in the banking system - ZERO. We started off with less than US$200m circulating in the system, which grew to US$2billion within 2 yrs. As confidence grew in the economic policy consistency of the GNU, we ended up with more..
3/13 @BitiTendai could tell us how much was circulating by the time GNU ended, since Mangudya refuses to account for himself neither to the public nor Parly (except when being questioned by incompetent ZANU PF MPs as happened last month).
Read 13 tweets
Prisca Profile picture
17 Jun 20
1/4 The fatal mistake in this stillborn forex auction system announced by @ReserveBankZIM today: "Gvt" will continue to access forex at a much lower rate (aka "crawling rate"). Ministers, politicians & their proxies will, from experience, fall under this definition of "gvt"... ImageImage
2/4 Secondly, Gvt's obscene appetite for forex will see them monopolise the forex @ Reserve Bank: so the forex amounts available for auction will be laughable. By July or August, the auction system will be basically dead as a result, like the interbank system (keep this tweet).
3/4 The connected politicians who'll continue to access forex at a quarter or half price will offload it on the black market at higher rates every week. The black market has actually been made stronger as of today, driven deeper underground as I explain below.
Read 5 tweets
Prisca Profile picture
7 Jun 20
COVID19 Corruption thread:

This is Sengerai Manyanga, @sengeraiManyan2, a Councillor in Masvingo.
This is Ezra Chadzamira, an @edmnangagwa loyalist who's also Provincial Minister for Masvingo, seen here with U.S. Ambassador Nichols 👇. The 2 are in the process of looting COVID funds being distributed through Netone simcards. Here's how it's working:
The Netone simcards are being distributed to people registered by authorities throughout the country as vulnerable & in need of part of the ZWL$18billion stimulus package announced by @MthuliNcube. The distribution if being controlled by ZANU PF youths.
Read 9 tweets
Prisca Profile picture
4 Jun 20
1/8 Congratulations to @ZACConline on securing the conviction of the Director of State Residences in the Office of The President & Cabinet. Douglas Tapfuma has been convicted for importing personal cars in the name of the President & avoiding duty/taxes.

herald.co.zw/updated-tapfum…
2/8 Originally, the offence ZACC arrested him for was for over 100 cars & this is where it gets interesting. He claimed that the cars were being donated to President Mnangagwa by businessmen who included Tagwirei. They were to be used in for the 2018 campaign, was his defence.
3/8 Tapfuma used piggybacked on these cars and imported his own personal cars as well, claimed they were for the President's office & avoided paying duty & taxes. But the cars being imported for the campaign were for ZANU PF, not President's Office, and ZANU PF is not..
Read 8 tweets

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