Government Yet To Disburse January Riots Reconstruction Money

4 years agoSat, 20 Apr 2019 01:48:45 GMT

Government Yet To Disburse January Riots Reconstruction Money

The government of Zimbabwe is yet to disburse reconstruction money promised to businesses following the January 2019 violence and looting. The government promised it would disburse RTGS$ 30 million.

Business are however complaining that they are yet to receive the money and that the money is losing value fast.

Said Confederation of Zimbabwe Retailers president Denford Mutashu:

I spoke with more than 120 of the (affected) shops in Matabeleland . . . and they are complaining that right now, the pace is slow.
We were happy about the progress that was made in the first 43 days (after the demonstrations) and we are also happy that a lot of them have filled in the loan application forms, but the clarity around the value of the RTGS$30 million facility, as when it was offered, it was worth that much, is required because obviously given the changes that have taken place on the market, it remains a challenge.
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. . . we believe Government should expedite the process so that whatever value it is then, can be preserved. We also had price increases that have also taken place, and that also erodes that particular value and may diminish the noble gesture that was extended by the Government