06 March 2019
Acute foreign currency shortages in Zimbabwe have caused wage erosion. Even when employed, women and youths in Zimbabwe face poverty and related inequality. Evidence of long queues this week at foreign currency transfer agents such as Western Union in Mutare reflects a great deal of capital “flight.” In as much as Mutare is a resource rich community endowed with diamond and gold, there is lack of descent jobs for youths since there is no value addition in mining for the community. Lack of entrepreneurial support to expand has led many to rely on citizens in the diaspora for access to foreign currency since RTGS Dollars fueled commodity overpricing. For the past two weeks, locals in Mutare could not collect their foreign currency remittances due to shortages yet double pricing on commodities exists with most retailers demanding foreign currency. In order to realize social economic justice, women and youths in Mutare need to be capacitated with trainings and skills backed by policy overhauls particularly with regards to the Mines and Minerals Act to ensure that the host community benefit from resource extractives.
