And finally…stock market’s trading hits £79
Trading on Zimbabwe’s stock market hit £79 yesterday after an announcement by the government implied that it would force farmers to grow crops or lose their land.
The trading hit its lowest since the introduction of the US dollar in 2009.
Only Barclays Bank of Zimbabwe traded yesterday and Harare stockbrokers Lyntonedwards confirmed that it was the lowest turnover since 2009, when a total value of just £23 changed hands.
Faith in the banking sector of the country has dropped after an announcement made by The Central Bank that it would start issuing its own bank notes. The announcement queues of locals outside banks waiting to withdraw their cash.
The stoop shows the dire situation the country’s economy is in after the re-election of Mugabe who has been in power since 1980 and has seen his most loyal supporters speak out against him.
War veterans released a statement calling him ‘dictatorial.’
As a result of this Mugabe is tightening his control on the country announcing that 2000 farmers will be forced to grow maize ‘under strict supervision’ to combat the food shortages the country is facing.