Zimbabweans were left stunned and incredulous when Finance Minister Mthuli Ncube received the title of “Best African Finance Minister of the Year,” a recognition sharply contrasting with the ongoing economic turmoil in the country.
In the face of Zimbabwe’s economic challenges, reactions flooded in, expressing disbelief over the award. One user on X (formerly Twitter) likened it to praising a ship captain for steering directly into an iceberg.
Another individual labeled it as “the greatest joke of the decade.”
The nation grapples with severe economic difficulties, including an unemployment rate soaring as high as 85%, as highlighted by economists. Media reports indicate a lack of confidence in the local currency, with approximately 80% of transactions conducted in US dollars.
The accolade was bestowed upon Mr. Ncube by Reputation Poll International, an organization specializing in managing reputations. Mr. Ncube, appointed by President Emmerson Mnangagwa in 2018, expressed delight at the honor, attributing it to the Treasury team’s efforts in driving economic transformation.
However, activist Hopewell Chin’ono labeled the award an “insult” to Zimbabweans. He expressed incredulity, particularly in light of Mr. Ncube’s recent budget, which he criticized as “the most anti-people national budget that Zimbabwe has ever had.”
Chin’ono accused Mr. Ncube of overseeing the country’s descent into economic distress due to what he termed misguided and corrupt policies.
Zimbabwe’s economy has been in turmoil for years, with the Zimbabwe dollar withdrawn in 2009 during hyperinflation reaching an astounding 231 million per cent, leading to hourly price changes.
Critics attribute the economic crisis to mismanagement by the ruling Zanu-PF party, under both Robert Mugabe and Mr. Mnangagwa. However, the government blames Western sanctions for exacerbating the situation.
Recently, Zimbabwe held controversial by-elections following the recall of MPs from the main opposition party, Citizens Coalition for Change (CCC). Zanu-PF secured seven of the nine by-elections but fell short of the two-thirds parliamentary majority required to alter the constitution by three seats.