Harare, Zimbabwe (News of the South)-Opposition party leader Tendai Biti has lambasted VP Emmerson Mnangagwa for uttering fallacious statements pertaining to the presence of $9 billion in the country’s banks.


Speaking at the Midlands State University VP Mnangagwa hogged the limelight last week after announcing that the country’s banks have the capacity to finance projects to the tune of $9 billion if anyone comes forward with a solid proposal.

“Come with a programme yawanyora pasi. As long as you have got a programme, we are going to support it. Our financial institutions have for instance just now, over $9 billion funds just sitting and not being used”


“We have talked to the financial services sector to release these funds to circulate in the economy and they can only release such funds they are keeping if there are programmes and these are programmes we are talking about”, he said.


The VP who had just finished presenting a public lecture titled “Command Agriculture in Zimbabwe: Myths, Lessons and Future” expressed government’s readiness to assist all and sundry.


“We want to support viable programmes, especially coming from the youths to support import substitution under the Buy Zimbabwe initiative”.


“We are not saying you should have money, but you should have a solid proposal and then we finance the programme. We have put a menu of opportunities, which you choose to participate in”


Mnangagwa further scoffed at those applying and waiting to find jobs and said they will continue waiting upon those who come up with projects.


“So, either you choose to be employed or you choose to employ. If you choose to employ you come with a project and we will finance you and if you choose to be employed, sit around until someone has a project and you apply for employment”, he said


However Biti has scoffed at the stated presence of the $9 billion saying its actually ridiculous to believe the country’s banks have such an amount.


“He has gone bonkers. It is the age of madness”


“How does someone wake up and suggest that there is $9 billion seating in our banks”.


“What hallucination? What are you smoking? he queried.


The VP’s statements are in stark contrast to the situation on the ground where banks have been grappling with an acute shortage of cash that has crippled a host of business initiatives in the country.


To think that the same banks have a seating amount of such magnitude has surprised many who have questioned the factuality of the statement.


Writing on social media Nothando Ndebele said, “its amazes me that someone can deliver such blatant nonsense and assume we will simply nod and clap like circus animals”


Another writer, Setfree Mafukidze also questioned the statements.


“The Croc is definitely high on some illicit drug where are those figures coming from seriously”, he said.


The country is actually contemplating adopting the South African Rand as it aims to mitigate cash crunch.




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