(NEW ZIMBABWE) Ex-ZBC boss arrested in Kariba
Ex-ZBC boss arrested in KaribaBy Lebo Nkatazo
Last updated: Mon, 10 Sep 2007 20:59:09 GMT
ZIMBABWEAN police on Monday arrested former Zimbabwe Broadcasting Holdings CEO Munyaradzi Hwengwere, accusing him of leaving the country with more than the stipulated $100 000 (about 15p), a police spokesperson confirmed.
Mashonaland West police spokesperson Inspector Paul Nyathi said Hwengwere was arrested in Kariba, on the Zimbabwean side of the border with Zambia, following a visit to Zimbabwe’s northern neighbour.
“He was arrested for leaving the country with Zimbabwean dollars exceeding the limit of cash that is allowed, which is $100 000,” the police spokesperson said.
A 375 ml of Coke is currently selling at more than $150 000. Nyathi would not immediately say how much Hwengwere had in his possession.
“All I know is that he would be appearing at the Karoi magistrate court on Tuesday,” he added.
Hwengwere has been working as a consultant in South Africa. Last year, the former ZBH boss told a Media Institute of Southern Africa (MISA) organised workshop that working for the state-run national television station is stressful, as one has to bow to political pressure at the expense of audiences.
“I was juggling with political issues, sometimes I would be forced to please a bigger party at the expense of a smaller one. In South Africa public broadcasting is raw and relevant. SABC is all over the place, it is a commercial, public and political broadcaster,” said Hwengwere.
Labels: CURRENCY, INFLATION, ZIMBABWE
posted by MrK @ 5:35 PM
1 Comments:
So if $100,000 is 15p, then 150,000 or a bottle of coke is 22.5p ($0.45)?
That is very cheap. Again, this underscores that inflation in Zimbabwe is local currency inflation, not actual inflation of the goods themselves.
This also underscores that it is the Zimbabwean currency that is under attack, not the supply of goods, which you would expect if this inflation was caused by a 'collapsed' agricultural system.
The cause of inflation in Zimbabwe is ZDERA, and the the economy will recover when these financial sanctions are lifted.
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