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There has been controversy surrounding some United States dollar notes in Zimbabwe, as banks, businesses, and individuals claim that they are not worth their full value. Reports suggest that some banks are taking a percentage of every dollar, ranging from 10% to 20%. This issue was highlighted by a Zimbabwean lawyer named Tinomudaishe Chinyoka, who shared his experience on Space X. Chinyoka said:
<blockquote>
This, is money. $200 to be exact. All over the world this would be an inconsequential point: it is $200 and can be used (where the US$ is legal tender) to buy goods for $200. Not in Zimbabwe. Nokuti tine mashavi okuzviwomesera, you cant use this money as $200. You can “sell” each note for $80-90. You can’t deposit it into any bank regulated by @ReserveBankZIM unless you agree that they will record each one as $90. Sometimes this country inoita sokuti iri kutanda botso chaiko.
<img alt="united states dollars" class="wp-image-269166 aligncenter" decoding="async" height="444" loading="lazy" sizes="(max-width: 333px) 100vw, 333px" src="https://news.pindula.co.zw/wp-content/uploads/2024/01/united-states-dollars-225x300.jpg" srcset="https://news.pindula.co.zw/wp-content/uploads/2024/01/united-states-dollars-225x300.jpg 225w, https://news.pindula.co.zw/wp-content/uploads/2024/01/united-states-dollars-768x1024.jpg 768w, https://news.pindula.co.zw/wp-content/uploads/2024/01/united-states-dollars-1152x1536.jpg 1152w, https://news.pindula.co.zw/wp-content/uploads/2024/01/united-states-dollars-1320x1760.jpg 1320w, https://news.pindula.co.zw/wp-content/uploads/2024/01/united-states-dollars.jpg 1536w" width="333"/>
</blockquote>
Chinyoka compared this situation to the United States, where even torn bills can still be used as legal tender. He expressed his disbelief that Zimbabweans seem to understand American money better than Americans themselves. He also mentioned that when he attempted to deposit the money at a local bank, First Capital, they insisted on recording each $100 note as $90 on his account.
Penalty for Being Dirty
In 2019, reports suggested that <a href="https://www.pindula.co.zw/2019/04/03/brief-analysis-of-the-dirty-us-and-10-charge/">Zimbabwean Banks charge their customers a 10% charge for depositing dirty USD</a>. One of the banks is the Standard Chartered Bank. The main question many have been asking is the reason behind this move. The answer to this may have been captured in a <a href="https://www.techzim.co.zw/2018/11/usd-notes-in-circulation-in-zimbabwe-could-be-worthless-in-south-africa/" rel="noopener" target="_blank">Techzim</a> blog. A direct quotation from the blog reads:
<blockquote>
It’s those dirty notes that are not accepted in South Africa. We visited another Bureau De Change two days later and it declined some USD notes for the same reason. So, two the Bureau de Changes only took the clean ones (USD notes) and returned to us the dirty ones.
</blockquote>
A Financial Gazette correspondent claims that Banks continued accepting dirty USD since 2009 because distributing them was easy. They would just dish them to their customers. The disappearance of the USD from the market and the introduction of the Bond currency forced banks to start exporting them. Although exportation was for a price, it was better compared to accepting the now RTGS balances <a href="https://www.techzim.co.zw/2017/12/finally-chinamasa-speaks-truth-causes-cash-crisis-parallel-exchange-rate/" rel="noopener" target="_blank">which were no longer backed by the USD</a>.
The correspondent further suggested that South African banks became wary of US sanctions on Zimbabwe. Consequently,  they stopped dealing with Zimbabwean banks. The charging of a 10% charge by the Standard Chartered Bank is suggestive of the availability of new markets for the dirty notes. The markets must be charging about 10% to depositors of dirty USD notes.
<h3>All US Bills Remain Legal Tender</h3>
In July 2022, the United States Embassy in Harare clarified that <a href="https://www.pindula.co.zw/2022/07/09/soiled-damaged-us-dollar-banknotes-remain-legal-tender-us-embassy/">all US dollar notes, including soiled and damaged ones, remain legal tender.</a> However, in Zimbabwe, businesses often reject soiled US dollar banknotes, and illegal money changers take advantage of the situation by exchanging old and torn US notes for a fee. For instance, a torn US$10 note is being exchanged for half its value in Zimbabwean dollars.
The statement from the US Embassy emphasized that all designs of US Federal Reserve notes, regardless of when they were issued, are considered legal tender. It stated that any note that is not mutilated and does not require special examination to determine its value should be accepted. Said the Embassy:
<blockquote>
US government policy is that all designs of US Federal Reserve notes remain legal tender or legally valid for payments, regardless of when they were issued.
This policy includes all denominations of Federal Reserve notes from 1914 to the present.
… any badly soiled, dirty, defaced, disintegrated, limp, torn or worn out currency note that is not mutilated and does not require special examination to determine its value, is considered legal tender by the US government.
</blockquote>
Economic analysts and business associations welcomed the clarification from the US Embassy, urging banks and businesses to accept damaged US dollar banknotes to instil confidence among the public. However, challenges remain as major wholesalers, retailers, and traders often refuse to accept these notes. 
<h3><a href="https://www.pindula.co.zw/">More Pindula News</a></h3>

Pindula News

"Some Banks Taking 10-20% Of Every United States Dollar" - Zimbabwean Lawyer

Fadzayi Mahere, a Member of Parliament for the Mt Pleasant constituency, expressed concern that people who have been abducted and tortured are scared to report their ordeal to the police. She said they fear the government will treat them like they did with Joana Mamombe, Cecilia Chimbiri, and Netsai Marova. These three individuals claimed to have been abducted and tortured by suspected state security agents, but the State accused them of faking their abduction and were arrested for spreading lies. The case against them is still ongoing.
Recently, another MP from the opposition party, Takudzwa Ngadziore, along with former MP James Chidhakwa, claimed they were <a href="https://www.pindula.co.zw/2023/11/02/police-say-ngadziore-yet-to-report-alleged-abduction-and-torture/">abducted, tortured, and injected with an unknown substance.</a> Ngadziore’s abduction was recorded live on Facebook before he was taken to Mazowe, where he was tortured and left naked.
The public expressed outrage over the incidents on social media. The Zimbabwe Republic Police (ZRP) stated that they are trying to contact Ngadziore to gather more information about the alleged abduction. In a short statement on X, the ZRP said:
<blockquote>
The ZRP has been keenly following an allegation of abduction and torture on Social Media. The Police inform the public that no such case has been reported. We are trying to make contact with the alleged victim so as to elicit the facts beyond what is on social media.
</blockquote>
Information Secretary, Nick Mangwana, said investigations on all matters including those around the unverified pictures and video clips are also underway. He said:
<blockquote>
 We have been keenly following an allegation of abduction and torture trending on Social Media. We have also been handling a number of Media Inquiries on the same matter. We are liaising with the @PoliceZimbabwe who advise us that no such case has been reported to them so far. They also informed us that they are trying to make contact with the alleged victim so as to get more facts about this case, as currently they only have Social Media chatter to go by. They will issue a more operational statement in due course. Thank you.
</blockquote>
Dr Walter Mzembi, a former Tourism Minister who is currently living in exile, stated that it didn’t make sense for the police to wait for a report from Ngadziore when there is clear footage showing the alleged perpetrator carrying an AK47 rifle. He said:
<blockquote>
Is @PoliceZimbabwe so complacent let alone our security forces that they will wait for a Police Report when there is footage of people marauding with AK47 Assault Rifles in suburbs substituting them in their role unless the only explanation being that they know the people in the footage and it was an authorised operation?
</blockquote>
Former PetroTrade board chair, Tinomudaishe Chinyoka suggested that the said footage was no admissible evidence in a court of law. He responded to Mzembi:
<blockquote>
Ahh, Minister! Footage doesn’t mean it’s a crime, it could be a film being shot. Are you saying the police should investigate things based on tweets? Will we be safe?
</blockquote>
In response to Nick Mangwana’s statement saying police had not received any report, Mahere said the victims were afraid of what happened to Mamombe and colleagues. She said:
<blockquote>
Last time, Joana, Cecilia and Netsai reported their abduction and torture. You guys turned on them. They were arrested and prosecuted for “communicating falsehoods.” The perpetrators went free. This is why we describe you as a violent, corrupt dictatorship that offends the Constitution at every turn. Your call for a police report to be made is not bona fide at all.
</blockquote>
In the past, authorities have made claims suggesting that people who reported being abducted were possibly staging the abductions themselves in order to damage the government’s reputation. They have also suggested that there could be a “third force” that was responsible for carrying out these abductions in an attempt to tarnish the government’s image.
<h3><a href="https://www.pindula.co.zw/">More Pindula News</a></h3>

Abduction Victims Afraid To Report Fearing What Happened To Mamombe And Colleagues - Mahere

President <a href="https://www.pindula.co.zw/Emmerson_Mnangagwa/">Emmerson Mnangagwa</a> has <a href="https://www.pindula.co.zw/2023/09/30/president-mnangagwa-has-exempted-mutapa-investment-fund-companies-from-public-procurement-procedures/">exempted companies</a> under the <a href="https://www.pindula.co.zw/Mutapa_Investment_Fund/">Mutapa Investment Fund</a> (formerly the Sovereign Wealth Fund) from the Public Procurement and Disposal of Public Assets Act in Zimbabwe. This means that the companies under the fund, including <a href="https://www.pindula.co.zw/TelOne/">TelOne</a>, Kuvimba Mining, <a href="https://www.pindula.co.zw/Petrotrade/">Petrotrade,</a> and Noczim, are no longer required to follow the procurement procedures outlined by the Procurement Regulatory Authority of Zimbabwe when acquiring goods and services.
The decision <a href="https://www.pindula.co.zw/2023/09/30/president-mnangagwa-has-exempted-mutapa-investment-fund-companies-from-public-procurement-procedures/">to exempt these companies from open public procurement procedures</a> was announced in General Notice 1546 of 2023, published in a government gazette on September 29, 2023. The notice seen by Pindula News states that the exemption was granted because the mentioned public entity operates in competitive markets and is deemed to require an exemption under the specified grounds of the Act. 
Some commentators have criticized the exemption of companies under the Mutapa Investment Fund from public procurement procedures, suggesting it could lead to looting and personal gain. Journalist <a href="https://www.pindula.co.zw/Mduduzi_Mathuthu/">Mduduzi Mathuthu</a> expressed concern saying:
<blockquote>
A scandal! Guess who will be supplying those companies? The family!
</blockquote>
Former Petrotrade Board chairperson <a href="https://www.pindula.co.zw/Tinomudaishe_Chinyoka/">Tinomudaishe Chinyoka</a>, however, mentioned that procurement regulations sometimes hinder the competitiveness of government-owned companies, and an exemption might not necessarily be a bad thing if implemented properly. He said:
<blockquote>
From my limited experience, procurement regulations make it hard for government-owned private limited liability companies to be competitive. You can’t even cough without running a tender for it. And, being forced to buy things an 4 times their price just because that was the lowest bid you received to the mandatory tender is not how to run a business. So, with that limited experience, I don’t think this is necessarily a bad thing. The devil will be in the detail of how things actually work. Sometimes, not everything is amended to facilitate corruption.
</blockquote>
 Former Local Government Minister <a href="https://www.pindula.co.zw/Saviour_Kasukuwere/">Saviour Kasukuwere</a> criticized the move as an abuse of power and raised concerns about potential corruption. He said:
<blockquote>
Mnangagwa’s Presidential Decrees Open Door to Massive State Asset Looting The recent renaming of the Sovereign Wealth Fund into the so-called “Mutapa Fund” by presidential decree and the subsequent transfer of selected state enterprises into that fund has shocked many and naturally attracted serious concern regarding the motives behind such a brazen move, especially without the consent of parliament, which is still to convene and is meant to protect the interests of citizens. Further to that, there is the recent promulgation, again by presidential decree, of a new statutory instrument that seeks to exempt the Mutapa Fund from the Public Procurement and Disposal of Public Assets Act (Chapter 22:23). There is no debate that public procurement procedures and the disposal of public assets have a profound impact on a nation’s developmental trajectory. Any country that wishes to maximize benefits from its assets and resources in a responsible manner and is also serious about accountability and transparency, therefore, needs to ensure that it has the appropriate laws, policies, and regulations in place to safeguard such public assets and resources from fraud and abuse. 
</blockquote>
Apostle Joel expressed strong condemnation, calling it industrial looting and a betrayal of accountability and transparency. He said:
<blockquote>
Gold Mafia/Industrial Corruption Inc Zimbabwe ED has now officially personalized Zimbabwe after substituting the Sovereign Wealth Fund of Zimbabwe with a new one named Mutapa Investment Fund. ED’s hunger and thirsty to build his dynasty has manifested for all to see. Remember, the prophecy of inauguration of shame, dishonour. Remember, the throne of disgrace, humiliation. Cursed!! Leprotic!! Ahithophel wisdom. Corrupted wisdom. Whatever ED does is cursed, and offensive to the Zimbabwean citizens. The Mutapa Fund has assumed ownership of several state firms, and these companies are exempted from open public procurement procedures. Welcome to Industrial looting never witnessed in this country, even, when it was still Rhodesia. None has boldness to investigate, or stop this train of corruption, since all state institutions are captured. After zanufying Southern Africa, except for the few nations standing for righteousness and justice, vene is now personalizing Zimbabwe . This is very worrying. Accountability and transparency have been thrown out of the window. The Holy Scriptures have been fulfilled. To expect a bad man not to do wrong is madness. A man without God has no morals, and is not accountable to anyone. Pro 16:12 KJ2000 It is an abomination to kings to commit wickedness: for the throne is established by righteousness. Brothers and sisters, we are now open for business.
</blockquote>
Member of Parliament (MP) for the <a href="https://www.pindula.co.zw/Mt_Pleasant/">Mt Pleasant</a> Constituency in Harare, <a href="https://www.pindula.co.zw/Fadzayi_Mahere/">Fadzayi Mahere</a> argued that the creation of the Mutapa Fund is illegal and allows for unprecedented looting. Fadzayi Mahere who is a member of the opposition Citizens Coalition for Change (CCC) said:
<blockquote>
The uncomfortable truth is that the creation of the Mutapa Fund is illegal. Mr Mnangagwa doesn’t have the power to amend an Act of Parliament. The new looting vehicle is ultra vires the law &amp; the Constitution. This dispensation is going for broke. Shameless. The looting that’s about to take place is stratospheric. Most parastatals &amp; public entities incl ZUPCO, Netone &amp; many others now fall under the unconstitutional Mutapa Fund. These entities are now exempt from the legal obligation to go through public tender procedures. Tragic.
</blockquote>
Economic commentator Tinashe Murapata drew parallels with historical nationalization efforts, saying: 
<blockquote>
The confusion that is Mutapa Investment fund. What is happening is nationalization of commercial assets with direct control and command by the centre. Many of these assets were private, had private shareholders, parastatals, ran at arms length and now all directly bundled under the command of Mutapa. This is nothing new. This happened in Africa in the 1960’s where companies were bundled up through nationalization and a joint venture with a preferred private investor was pursued. It reminded me very much of Tiny Rowland – the preferred private investor and his foray in Africa. Herein my abridged essay on Tiny Rowland and what happened at the time. Striking parallels.
</blockquote>
The <a href="https://www.pindula.co.zw/Amalgamated_Rural_Teachers_Union_of_Zimbabwe/">Amalgamated Rural Teachers Union of Zimbabwe (ARTUZ)</a> expressed concern about the possible stripping of national assets. Said the union:
<blockquote>
On 17 December 2021, VP Chiwenga responding to allegations of a Coup plot by Chief Murinye, declared that Zimbabwe has one Monomutapa referring to @edmnangagwa Now the Mutapa Investment fund is being exempted from Public Procurement laws and procedures. Are Mutapa’s assets going to remain national assets? If these are national assets then the Procurement Act should be religiously applied on the Mutapa Investment.We are deeply concerned that Zimbabwe will be stripped of her assets.
</blockquote>
<h3><a href="https://www.pindula.co.zw/">More Pindula News</a></h3>

Reactions To Exemption Of Mutapa Sovereign Fund From Procurement Procedures

A lawyer and social worker who is also a member of the ruling ZANU PF party, <a href="https://www.pindula.co.zw/Tinomudaishe_Chinyoka" rel="noopener noreferrer" target="_blank">Tinomudaishe Chinyoka</a>, says Zimbabwe is being killed not by politics or sanctions but by “madiro“, which means an “I do as I want” attitude.
Writing for Nehanda Radio, Chinyoka defined Madiro as not only doing whatever you want, “but… doing it with an almost reckless abandon that celebrates the fact that you are doing it”.
Chinyoka argues that since November 2017 (when <a href="https://www.pindula.co.zw/November_2017_Military_Coup" rel="noopener noreferrer" target="_blank">Operation Restore Legacy</a> was launched), people break the law, norms, and rules with reckless abandon and with no fear of consequences.
Cars with no plates and/or insurance are vying for a majority on the road, mothers are arrested and denied bail for crimes they will never be convicted of, youths demonstrate in the streets without following the law, shops charge prices with no regard to the customers, people skip fuel queues freely, the President is maligned on social media, while even visitors from China are allowed to go around the country with no consideration about the coronavirus… Chinyoka goes on an on. In conclusion, he wrote:
<blockquote>Without regulation, things fall apart. Without restraint, politicians and policymakers become servants of no-one. And once madiro takes over, only the unlucky, the unconnected and the cursed go to jail.
Perhaps, that might explain why, some two years into the second republic which has put the fight against corruption at the fore, we still do not have a single person in prison that has been convicted of corruption. Because time time pamwe mbavha dziri kutoitawo madiro kuma department kwadzinosungwa  nokutongwa ikoko, you never know.</blockquote>
<h4>More: <a href="https://nehandaradio.com/2020/02/25/chinyoka-on-tuesday-its-madiro-not-sanctions-or-politics-thats-killing-zimbabwe/" rel="noopener noreferrer" target="_blank">Nehanda Radio</a></h4>

"Zimbabwe Is Being Killed By 'Madiro', Not Sanctions"

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