The relative honeymoon Zimbabwe’s new leaders enjoyed over the past year has come to an end as the country erupted in protests and demonstrations last week.
The spark was a decision made on January 12 to raise the price of petrol, which previously cost $1.43 (Dh5.25) a litre. It has now risen to $3.31, a 150 per cent increase. Fuel was already in short supply, with motorists enduring long queues of several kilometres at the petrol pumps.
The price hike was intended to stop black-market trading in fuel, but instead provoked countrywide demonstrations that quickly turned violent. Soon, disturbing images of injured and dead protesters flooded social media prompting the government to shut down internet networks. A court order on Monday night ordered that full internet access be restored.
Eddie Cross, an economist based in Zimbabwe’s second city of Bulawayo, believes government corruption and mismanagement is behind the sudden hike in fuel.
“These things should have been attended to immediately after they [new leaders] came to power,” Mr Cross said. President Emmerson Mnangagwa and his deputies took office following a military coup in November 2017 that unseated Robert Mugabe.
Since then Mr Mnangagwa has promised to depart from the inefficient and corrupt practices of the Mugabe regime. He has also undertaken to revive a stagnant economy and declared “Zimbabwe is open for business”.
However, efforts to reform the economy have been hampered by long-established patronage networks, Mr Cross says. Mugabe-era state officials were still place and the new administration had done nothing to root them out.
“They should have cleaned up their act. They should have shown no tolerance for corruption in any form,” Mr Cross says.
The effect of the protests has been pronounced, with the Confederation of Zimbabwe Industries president Sifelani Jabangwe saying the country’s economy had lost productive value amounting to $300 million during the three days of full-blown demonstrations as workers stayed at home. In addition, the Zimbabwe Stock Exchange (ZSE) halted trade for two days this week.
"We record about $100 million per day and given that some companies operated on skeletal staff in the three days, the economy loss could be between $70 million and $100 million per day," Mr Jabangwe said on Sunday.
Amid the protests emerged another similarity with the Mugabe era: the swiftness of deploying the military and police against protesters.
According to the Zimbabwean Human Rights NGO Forum – a body representing a wide range of non-governmental organisations, at least 12 people had been killed in the violence last week. Hundreds were injured and detained.
“While there is no official ‘state of emergency’ declared, the state of affairs represents a suspension of rule of law with the state arresting people without investigating them, torturing suspects and shooting civilians as well as suspending fundamental freedoms,” the organisation said.
When Mr Mugabe was toppled, Zimbabweans initially welcomed the change, with cheering crowds pouring onto the streets. Exiled communities in Johannesburg and London wept tears of joy in front of TV screens.
Many at the time did have reservations around Mr Mnangagawa, formerly Mugabe’s chief political enforcer, but hoped he would end his predecessor's ruinous economic policies. Mr Mnangagwa has since strived to soften his image and paint himself as a reformer.
Still, money has remained tight, and Mr Mnangagwa needs to keep the military and police paid, as well as civil servants. “More than 95 per cent of government income is spent on salaries,” says Nkosana Moyo, former industry minister in the Mugabe government who now heads his own political party, The Alliance for the People's Agenda.
Of the $3.31 per litre of petrol Mr Moyo says, about $2.48 is tax, or around 75 per cent. “So, government is using this to raise money for itself."
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Read more:
Zimbabwe’s president returns amid economic crisis and crackdown
South Africa out of recession but hard times remain
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Finding money to pay the civil service, which numbers about 305,000 people including the armed forces, is a growing problem. On January 8 the main unions representing state employees gave a 14-day notice to strike, and are demanding to be paid in US dollars. Doctors and teachers are already on strike.
Zimbabwe has not had its own currency since 2009 when the Zimbabwean dollar was scrapped in a desperate attempt to put an end to hyperinflation that reached 500 billion per cent, according to a Bloomberg estimate. Since then, the US dollar has become the currency for Zimbabwean transactions.
Actual dollars are in short supply though, since the Zimbabwean treasury cannot legally print them. It relies on deposits by exporters for its supply, and has implemented a creative variety of taxes to try and bolster the state’s own dollar holdings, of which the new fuel price is the latest example.
Early in January vice-president Constantino Chiwenga - the former general who led the coup against Mugabe, and who some believe is the real power in Harare – said the government could not afford to pay US dollars.
“In discussion with workers, government explained that it cannot go back to paying workers in US dollars, as in 2009,” Mr Chiwenga told a news briefing in Harare, broadcast on state television.
“This is because the 2009 total wage bill was around $30 million per month. Now it’s $300m per month.” This, he added, was also the equivalent of the country’s monthly dollar income from exports.
The finance minister Mthuli Ncube did say that the country would get its own currency within the next 12 months. This news has not exactly excited those who recall the hyperinflation era when The New York Times dubbed Zimbabwe the "country of the million-dollar chicken".
“We’ve put up with a lot over the years, such as inflation, dollar shortages and electricity cuts,” says Jonathan Lawrence, a Harare based businessman. “Of all these, hyperinflation was the worst. I think many of us would leave rather than go through that again.”
And the spectre of crippling inflation is starting to haunt Zimbabweans again. Since October last year the Zimbabwe inflation rate has soared from 20.8 per cent to 42 per cent in December, according to Trading Economics.
Neighbouring countries, meanwhile, are bracing for an influx of refugees if the crisis is not resolved soon. Home Affairs Minister of South Africa Siyabonga Cwele told a news briefing over the weekend that “Zimbabwe was priority number one” and that officials were monitoring border posts for increased movement.
South Africa is already a haven for a large number of Zimbabweans who have fled the economic crisis at home – as many as five million, according to some estimates.
For many exiles, Mugabe’s ousting brought hope they could soon return home. Now it appears they may have to wait a little longer.
Konat Bakota, a Zimbabwean in Cape Town, survives by earning around 100 rand a day (Dh26), watching over cars in a public parking lot while their owners are shopping. He had returned home over the December holidays to spend time with family.
“I thought maybe my time in South Africa was coming to an end. I’ve been saving to buy a car for a taxi to drive in Harare,” Mr Bakota says. “Now? What use is a taxi business if there’s no fuel, and soldiers in the streets can kill you.”
Zimbabwean authorities continue to deny that the army and police have killed protesters. Instead they blame "rogue elements" who have appropriated uniforms and carried out attacks, using protests as cover.
Mr Mnangangwa was in Russia on a state visit during most of the protests, and was set to join the Davos summit to drum up investment for Zimbabwe. He has now opted to return home, perhaps in response to rumours circulating that his deputy Mr Chiwenga has used the protests as an opportunity to try to force Mr Mnangagwa out.
Unconfirmed reports by Zimbabwean bloggers have claimed that some of the violence of the past week was between rival factions of the ruling Zanu-PF party, with death squads representing Mr Chiwenga attacking supporters of Mr Mnangagwa.
Charamba George, Mr Mnangagwa’s spokesman, took to Twitter to discount these rumours. “The president is aware of whispers of a 'palace coup' brewing amidst the current turmoil persisting in the country. We as a legally elected administration, tend not to acknowledge trivia. It is prudent of this administration to clear the air.”
Regardless of the truth, Mr Mnangagwa has tough days ahead. Bloomberg reports that the South African treasury turned down a request for $1.2 billion in emergency funding.
It is not clear who else Zimbabwe can turn to.
At a glance
Global events: Much of the UK’s economic woes were blamed on “increased global uncertainty”, which can be interpreted as the economic impact of the Ukraine war and the uncertainty over Donald Trump’s tariffs.
Growth forecasts: Cut for 2025 from 2 per cent to 1 per cent. The OBR watchdog also estimated inflation will average 3.2 per cent this year
Welfare: Universal credit health element cut by 50 per cent and frozen for new claimants, building on cuts to the disability and incapacity bill set out earlier this month
Spending cuts: Overall day-to day-spending across government cut by £6.1bn in 2029-30
Tax evasion: Steps to crack down on tax evasion to raise “£6.5bn per year” for the public purse
Defence: New high-tech weaponry, upgrading HM Naval Base in Portsmouth
Housing: Housebuilding to reach its highest in 40 years, with planning reforms helping generate an extra £3.4bn for public finances
The rules on fostering in the UAE
A foster couple or family must:
- be Muslim, Emirati and be residing in the UAE
- not be younger than 25 years old
- not have been convicted of offences or crimes involving moral turpitude
- be free of infectious diseases or psychological and mental disorders
- have the ability to support its members and the foster child financially
- undertake to treat and raise the child in a proper manner and take care of his or her health and well-being
- A single, divorced or widowed Muslim Emirati female, residing in the UAE may apply to foster a child if she is at least 30 years old and able to support the child financially
Our family matters legal consultant
Name: Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
SQUADS
India
Virat Kohli (captain), Rohit Sharma (vice-captain), Shikhar Dhawan, Ajinkya Rahane, Manish Pandey, Kedar Jadhav, Dinesh Karthik, Mahendra Singh Dhoni (wicketkeeper), Hardik Pandya, Axar Patel, Kuldeep Yadav, Yuzvendra Chahal, Jasprit Bumrah, Bhuvneshwar Kumar, Shardul Thakur
New Zealand
Kane Williamson (captain), Martin Guptill, Colin Munro, Ross Taylor, Tom Latham (wicketkeeper), Henry Nicholls, Ish Sodhi, George Worker, Glenn Phillips, Matt Henry, Colin de Grandhomme, Mitchell Santner, Tim Southee, Adam Milne, Trent Boult
'HIJRAH%3A%20IN%20THE%20FOOTSTEPS%20OF%20THE%20PROPHET'
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A MINECRAFT MOVIE
Director: Jared Hess
Starring: Jack Black, Jennifer Coolidge, Jason Momoa
Rating: 3/5
SPEC%20SHEET%3A%20APPLE%20IPAD%20PRO%20(12.9%22%2C%202022)
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German intelligence warnings
- 2002: "Hezbollah supporters feared becoming a target of security services because of the effects of [9/11] ... discussions on Hezbollah policy moved from mosques into smaller circles in private homes." Supporters in Germany: 800
- 2013: "Financial and logistical support from Germany for Hezbollah in Lebanon supports the armed struggle against Israel ... Hezbollah supporters in Germany hold back from actions that would gain publicity." Supporters in Germany: 950
- 2023: "It must be reckoned with that Hezbollah will continue to plan terrorist actions outside the Middle East against Israel or Israeli interests." Supporters in Germany: 1,250
Source: Federal Office for the Protection of the Constitution
NO OTHER LAND
Director: Basel Adra, Yuval Abraham, Rachel Szor, Hamdan Ballal
Stars: Basel Adra, Yuval Abraham
Rating: 3.5/5
Milestones on the road to union
1970
October 26: Bahrain withdraws from a proposal to create a federation of nine with the seven Trucial States and Qatar.
December: Ahmed Al Suwaidi visits New York to discuss potential UN membership.
1971
March 1: Alex Douglas Hume, Conservative foreign secretary confirms that Britain will leave the Gulf and “strongly supports” the creation of a Union of Arab Emirates.
July 12: Historic meeting at which Sheikh Zayed and Sheikh Rashid make a binding agreement to create what will become the UAE.
July 18: It is announced that the UAE will be formed from six emirates, with a proposed constitution signed. RAK is not yet part of the agreement.
August 6: The fifth anniversary of Sheikh Zayed becoming Ruler of Abu Dhabi, with official celebrations deferred until later in the year.
August 15: Bahrain becomes independent.
September 3: Qatar becomes independent.
November 23-25: Meeting with Sheikh Zayed and Sheikh Rashid and senior British officials to fix December 2 as date of creation of the UAE.
November 29: At 5.30pm Iranian forces seize the Greater and Lesser Tunbs by force.
November 30: Despite a power sharing agreement, Tehran takes full control of Abu Musa.
November 31: UK officials visit all six participating Emirates to formally end the Trucial States treaties
December 2: 11am, Dubai. New Supreme Council formally elects Sheikh Zayed as President. Treaty of Friendship signed with the UK. 11.30am. Flag raising ceremony at Union House and Al Manhal Palace in Abu Dhabi witnessed by Sheikh Khalifa, then Crown Prince of Abu Dhabi.
December 6: Arab League formally admits the UAE. The first British Ambassador presents his credentials to Sheikh Zayed.
December 9: UAE joins the United Nations.
Name: Brendalle Belaza
From: Crossing Rubber, Philippines
Arrived in the UAE: 2007
Favourite place in Abu Dhabi: NYUAD campus
Favourite photography style: Street photography
Favourite book: Harry Potter
Living in...
This article is part of a guide on where to live in the UAE. Our reporters will profile some of the country’s most desirable districts, provide an estimate of rental prices and introduce you to some of the residents who call each area home.
Specs
Engine: Electric motor generating 54.2kWh (Cooper SE and Aceman SE), 64.6kW (Countryman All4 SE)
Power: 218hp (Cooper and Aceman), 313hp (Countryman)
Torque: 330Nm (Cooper and Aceman), 494Nm (Countryman)
On sale: Now
Price: From Dh158,000 (Cooper), Dh168,000 (Aceman), Dh190,000 (Countryman)
SHAITTAN
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Skewed figures
In the village of Mevagissey in southwest England the housing stock has doubled in the last century while the number of residents is half the historic high. The village's Neighbourhood Development Plan states that 26% of homes are holiday retreats. Prices are high, averaging around £300,000, £50,000 more than the Cornish average of £250,000. The local average wage is £15,458.
Specs
Engine: Dual-motor all-wheel-drive electric
Range: Up to 610km
Power: 905hp
Torque: 985Nm
Price: From Dh439,000
Available: Now
Company%20Profile
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HAJJAN
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In numbers: PKK’s money network in Europe
Germany: PKK collectors typically bring in $18 million in cash a year – amount has trebled since 2010
Revolutionary tax: Investigators say about $2 million a year raised from ‘tax collection’ around Marseille
Extortion: Gunman convicted in 2023 of demanding $10,000 from Kurdish businessman in Stockholm
Drug trade: PKK income claimed by Turkish anti-drugs force in 2024 to be as high as $500 million a year
Denmark: PKK one of two terrorist groups along with Iranian separatists ASMLA to raise “two-digit million amounts”
Contributions: Hundreds of euros expected from typical Kurdish families and thousands from business owners
TV channel: Kurdish Roj TV accounts frozen and went bankrupt after Denmark fined it more than $1 million over PKK links in 2013
If you go
The flights
There are direct flights from Dubai to Sofia with FlyDubai (www.flydubai.com) and Wizz Air (www.wizzair.com), from Dh1,164 and Dh822 return including taxes, respectively.
The trip
Plovdiv is 150km from Sofia, with an hourly bus service taking around 2 hours and costing $16 (Dh58). The Rhodopes can be reached from Sofia in between 2-4hours.
The trip was organised by Bulguides (www.bulguides.com), which organises guided trips throughout Bulgaria. Guiding, accommodation, food and transfers from Plovdiv to the mountains and back costs around 170 USD for a four-day, three-night trip.
Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.
Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.
“Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.
Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.
“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.
Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.
From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.
Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.
BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.
Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.
Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.
“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.
Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.
“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.
“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”
The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”
THE SPECS
Engine: 6.75-litre twin-turbocharged V12 petrol engine
Power: 420kW
Torque: 780Nm
Transmission: 8-speed automatic
Price: From Dh1,350,000
On sale: Available for preorder now
Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
- Premier League-standard football pitch
- 400m Olympic running track
- NBA-spec basketball court with auditorium
- 600-seat auditorium
- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
- AR and VR-enabled learning centres
- Disruption Lab and Research Centre for developing entrepreneurial skills
The bio
Job: Coder, website designer and chief executive, Trinet solutions
School: Year 8 pupil at Elite English School in Abu Hail, Deira
Role Models: Mark Zuckerberg and Elon Musk
Dream City: San Francisco
Hometown: Dubai
City of birth: Thiruvilla, Kerala
JOKE'S%20ON%20YOU
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COMPANY%20PROFILE
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Mohammed bin Zayed Majlis
Honeymoonish
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Company%20Profile
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Living in...
This article is part of a guide on where to live in the UAE. Our reporters will profile some of the country’s most desirable districts, provide an estimate of rental prices and introduce you to some of the residents who call each area home.
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Kanguva
Director: Siva
Stars: Suriya, Bobby Deol, Disha Patani, Yogi Babu, Redin Kingsley
