If anyone would like to check the AfDB website the figure is in total US $650000. You couldn't buy my house for that. What an economic powerhouse the illustrious leader has created if thats all the country has to spare.

This is very suspicious. Where did this money come from? How can there be no money for the run-off election yet they can pay back this huge amount? Massive fuel shortages in the country yet a massive pile of cash to repay debts?

Something's very wrong with this picture!

Mindpower, about May 14th 2008 or so, Gideon Gono purchased $6 quadrillion value of shares from the People's Own Savings Bank(POSB),the value of which is 75% of the bank's balance sheet. This bank as you know, caters mainly for low income depositors and is now at the brink of collapse. He threatened to fire anyone who resisted so he got his way. When confronted he said he was acting on behalf of a powerful politician aligned to Robert Mugabe.Most people know that that politician is himself and are not fools. I tell you, people's money is being stolen left right and center and the thieves are so brazen because they not only have the blessing of Mugabe, but they know that people can be kicked around because they are powerless and have no voice - for now. So it is not surprising that they have stolen stashes of cash at their disposal.

kjrs120, how is purchasing shares stealing money? Businesses issues shares to raise capital. If what you claim is true, Gono actually injected cash into the People's Own Savings Bank - the literal and mathematical opposite to what your comment has suggested.

It's stealing when someone purchases your shares but you don't want to sell them. Pretty obvious really. Back to business pre-school for you Kuba.

Don't be so silly. Shares are bought and sold in public markets. It's not possibly to steal something you've paid for in a market. As for business school, don't even bother attending; it's patently not your strong point.

So if I take away your TV but I give you five cents for it, that's not stealing because I've paid for it? Don't be ridiculous! Anyway, Gono didn't buy the shares from shareholders willing to sell he SEIZED them.

I notice you didn't deny that you are Kubatana6. So tell us Kuba, why post under so many different names? Is it because you have been exposed as a joke so now you think you can gain some level of credibility by a change of name?

PS, try reading the article before you give us another clueless reply.

http://allafrica.com/stories/200805141015.html

Selector, yes under NORMAL circumstances, businesses offer shares to raise capital etc. But as Mindpower has so clearly explained to you, this was a seizure by Gideon Gono. In case you do not understand what seizure means - this was not a willing buyer and willing seller transaction. This was an "I want it, I will take it, and I will fire you if you resist" take. One man owning 75% of the Bank's balance sheet - who do you think will monopolize and manipulate? It's a 'Reserve Bank of Zimbabwe' governor we are talking about with every trick of the trade at his disposal.

mindpower, I replied to a message from kjrs in this thread that said, "Gideon Gono purchased $6 quadrillion value of shares from the People's Own Savings Bank..." - To present additional, though unsubstantiated, information suggesting "seizure" is one thing, but to blame or accuse a poster/contributor on the matter is ridiculous. kjrs' post did not mention siezure so there was no seizure to be argued against; this has been introduced later in the thread by you when you say "Gono didn't buy the shares (as the poster had originally said) from shareholders willing to sell he SEIZED them".

"So if I take away your TV but I give you five cents for it, that's not stealing because I've paid for it? Don't be ridiculous"! - I am bound to repeat, that shares or any goods paid for in a public market are not stolen.

"I notice you didn't deny that you are Kubatana6. So tell us Kuba, why post under so many different names? Is it because you have been exposed as a joke so now you think you can gain some level of credibility by a change of name"? - Now who's embarassing themself? The old folks say that the beginning of wisdom is calling things (and people) by their right names. You cannot expect me or anyone else to respond to you with any solemnity if you cannot differentiate between contributors on a simple message board. Worse still, you loose credibility in the eyes of more then one poster when you expose such extreme imaginations and make such unsubstantiated claims.

What you end up doing, in my humble opinion, is showing yourself up like many a Zimbabwe, Zanu-PF and Mugabe detractor; you spout rubbish-as-fact with bravado and pseudo-gravitas but are, in fact, not in the least bit concerned about the good, peace-loving, African people of Zimbabwe, of all creeds and colour. You are, as the Western psyche dictates, simply interested in your own individual pride and saving face in a public arena. As soon as you get over that self-serving attitude, you will be better able to understand and appreciate the alternative arguments on Zimbabwe.

LOL, Kuba I see you like to employ political tactics. You still haven't given a direct answer to the question of whether you are both Selector and Kuba. Instead you point an accusing finger at me hoping to divert attention from this. I notice you didn't deny any of the same claims by others. Why not?

I posted a link to the story on AllAfrica about the seizures, which is obviously what I was basing my statement on. Either you didn't bother to read it or you make out like I'm accusing kjrs120 of something in a lame attempt to create a conflict where none exists.

And now you are trying to take some sort of moral high ground. Who do you think you're fooling? Several people have posted direct questions to you Kuba, and you never answer. You also never back up any of your claims with evidence.

See Kuba, you're totally transparent. Accusing others of the very sins you are guilty of might distract a few people from seeing who you really are but luckily the more intelligent of us on here see straight through you.

Selector, you know that when I wrote about Gono's acquiring of those shares I stated "He threatened to fire anyone who resisted, so he got his way" what would you call that? It is forceful taking - a SEIZURE. I must admit, even I thought 'Selector' and 'Kubatana' are one and the same person. Sadly now two of the same vision.( whatever one sees when one's head is buried under the sand.)

kjrs, you used the word "purchased". You must, at least, concede that a casual reader might take you at your word. In hindsight, I hope you now see how "purchased" and "forceful taking" express opposing actions. No matter, you have now corrected your position. My own position, in response to your original proposition ought not to be faulted seeing as it was based, in faith, on what you had originally said.

Also, you do better than mindpower in accepting that more than one contributor shares a sentiment without being one person feigning two identities and you deserve credit, even for this alone. I have already expressed to mindpower that he/she does him or herself no favours and undermines his/her own credibility by so publicly sticking by what is, in fact, an untruth. mindpower goes on to play an old European game by accusng me (or whomever) of playing politics by not answering nonsensical questions, the old; 'you refuse to answer, you must be guilty'. Failing to understand that some thinking people consider obviously faulty questions and assertions unworthy of response.

As for heads being buried in the sand, such an accussation can equally be levelled at Zanu-PF detractors and their supporters. I doubt we'll be able to agree on the shares issue. Moving on, I note Mugabe is now talking about re-uniting Zanu-PF and hopes to bring Simba Makoni back into the fold. With prudence, I hope he succeeds in this quest as Makoni will make for a more internationally acceptable face of the ruling party and, no matter what I think or would like, local economics are being and have long been internationally influenced.

Selector, even though the shares were purchased, it was under duress on the part of the seller. So we both beg to differ on the subject. That's democracy at play.

Nice one, kjrs. That's the way to start a week, imho; in a spirit of understanding. No doubt we'll clash again in the future ;-) but so long the debate is firmly rooted in honesty of opinion (not point scoring), mutual attempts at understanding (not pig-headedness) and, dare I say, a spirit of resolution (not drawing lines in the sand), who knows what casual chatters may achieve and discover?

You're so right anyone with an ounce of intelligence can see something is very wrong. Made a good story in the Herald though, *wink*. Scroll down hahaha!

mindpower, what is so wrong? This is consistant with what i've been saying all along - Contrary to what you and the other fools want the world to believe Zimbabwe will and can bounce back. This is proof that Zimbabwe will never die and you and your cronies have tried every trick in the book and failed yet again to destabalise the present government. We await your usual lies now. Like i said YOU are just a racist idiot!

Well done. Zimbabwe!! Keep up the excellent work under these extremely trying circumstances.

Keep your head up Dr Gono. Our current government keeps impressing as well as build confidence in ourselves. When I was young I used to think one would never win a war against the white colonial oppressors. Thanks to Mugabe who has shown that even black skin is entitled to victory. It's just a matter of time when people will realize how an unsuccessful Tsvangirai wasted his and other people's energy trying to sell the nation. Well done to Gono. Keep thanks for the good.

My don't you look foolish now that Gono's real words have come to the public attention. :-D

Unfortunately Kubatana the story was a lie and it seems heads will roll because of it. Zimbabwe is far from bouncing Kubatana, but it was in the herald so you believed it, here is a letter from the government of your central bank to, "the people", I am laughing as I type this btw.

MATTER OF FACT: THE HERALD STORY OF 13 MAY, 2008 TITLED “ZIMBABWE DEFIES ODDS, PAYS US$700 M TO AfDB DEBT” REFERS

1. As Monetary Authorities, our professional integrity and ethics have impelled that we comment on the recent article of The Herald which suggested that Zimbabwe paid US$700 million to the African Development Bank (AfDB).

2. Whilst the article made nostalgic good reading, as the country’s Central Bank and custodian of Government’s foreign exchange receipts and payments, we wish to categorically state that to our knowledge, there has not been any such payment.

3. Indeed, back in 2004/2005 Zimbabwe made a surprise payment to the International Monetary Fund (IMF), which experience risks making the public believe the recent unfounded newspaper article alleging Zimbabwe’s payments to the AfDB this time around.

4. If the country had such resources (US$700 million), the Reserve Bank would have prioritized the importation of grain (maize and wheat); the importation of fuel, electricity, medical drugs, industrial chemicals, fertilizers, seeds, water treatment chemicals, agricultural equipment, and other infrastructural development essentials, and of course leaving some for debt service.

5. Although as a Central Bank we are closely working with the Ministry of Finance with several rods in the fire to raise foreign exchange resources to support the economy, such efforts have not as yet resulted in multilateral or bilateral creditors and/or donors disbursing funds or taking over our debts.

6. To this end, therefore, we are making efforts to trace and verify the source and authenticity of the Herald story, in the interest of setting the record straight.

7. Until facts are established on where this article came from, we would like to advise the Nation, and our cooperating regional and international partners to treat this story with caution.

Thank you.

________________________ DR. G. GONO GOVERNOR

You are so gullible, check your facts before you look even more of a fool.

Fascinating how easily Kuba and the bunch are taken in by propaganda. They must have very pliable minds indeed.

Fascinating how easily Kuba and the bunch are taken in by propaganda. They must have very pliable minds indeed.

mindy , according to you and your cronies Zimbabwe is a hopeless case. All that comes from you is negitive,negitive,negitive. Why bother your self? just move on and take any friends and family left in Zimbabwe with you. Every white in Zimbabwe has the right to go - just go. Land reform is our right. So what if Mugabe's cronies are getting land - rhodesians did it too and in fact it happens even in the western world. Just open your eyes and look.

So just because land was unjustly taken by whites in the past it's okay for that to be done by Mugabe's cronies now? Two wrongs don't make a right Kuba. But you're far too much of a hypocrite to understand that.

Just take a look at Ireland's history. Catholics and Protestants killing each other for generation after generation because of historical issues. Same with Israel and Palestine. This never ends until one side decides that enough is enough. No more blame, no more violence, it's time to move on and work towards a better future.

As I've said before I'm fourth generation African. My parents were born in Africa, so were their parents. You don't think that gives my family the right to stay there?

Most of my posts are challenging the rubbish you write. If you don't like that then too bad for you! I'm not about to submit to your propaganda.

mindy, 'two wrongs dont make a right'? That's the talk of one that is losing. We dont what to listen to your stupid quotes just give us our land back.

See, that's exactly the kind of attitude that keeps conflicts going forever. Even living in a country where different races live in harmony together hasn't taught you that there can be a win-win scenario for all. What a shame.

mindy,what win - win are you talking about? The whites in Zimbabwe are ahead by far and you still want win -win! We MUST correct past injustices before this win -win of yours can work.

Ahead by far? What are you talking about? Almost every one of my friends living in the UK has to send money back to their families in Zim just to keep them alive. My own family would not find enough money to buy food every month if I was not able to send them some forex.

You are living way in the past Kuba. And yes, injustices need to be corrected, but as it has been said before, be careful not to cut off your nose to spite your face. You don't want to correct injustices, you want revenge. And we all know where that leads ...

Ahead by far? What are you talking about? Almost every one of my friends living in the UK has to send money back to their families in Zim just to keep them alive. My own family would not find enough money to buy food every month if I was not able to send them some forex.

You are living way in the past Kuba. And yes, injustices need to be corrected, but as it has been said before, be careful not to cut off your nose to spite your face. You don't want to correct injustices, you want revenge. And we all know where that leads ...

See, that's exactly the kind of attitude that keeps conflicts going forever. Even living in a country where different races live in harmony together hasn't taught you that there can be a win-win scenario for all. What a shame.

And its your right to torture and murder anyone that doesnt share your views? Sounds like a great place Kube... no wonder you are living scared in New Zealand

Yes Kube, for once you are right! It IS consistant with what you have been saying the whole time! Why?! because its false, inaccurate, erroneous and simply wrong! So what is it you say about awaiting our usual lies? Look in the mirror buddy. Makes me laugh when even you fall for the governments propoganda.

Aaaah the irony! I love it!

PS I hope New Zealand is treating you well and the winter there isnt too cold for your poor Zimbabwean sole. Must be really tough over there huh?

Bounce back? Not under Mugabe.

We got a message from the silent God's of allAfrica dot com. *laughing*. Haven't seen one of those before. We don't know who you are but hello and thanks. The site is very informative and entertaining.

In a press release today, the African Development Bank stated "the Zimbabwean government last month paid part of its arrears to the African Development Bank (AfDB) Group.

On April 14, 2008, the country paid US$ 500,000 to the African Development Bank and US$150,000 to the African Development Fund. Zimbabwe has, in all, paid US$ 650,000 to the Bank Group despite numerous economic challenges currently facing the country, both globally and locally.

According to Mr. Abdirrahmene Beileh, AfDB acting Director in charge of Southern African countries, "Zimbabwe is still owing the Bank large amounts of money in arrears".

Flag as Abusive Reply