In recent days, Twitter and WhatsApp have been buzzing with discussions about Zimbabwe’s financial intelligence unit and its efforts to combat the black market rate. Many voices, some foolish, uninformed, and misinformed, almost overwhelmed social media platforms with their opinions. They claimed that the unit, which they believed had been indoctrinated with a flawed ideology at Chitepo School, had identified individuals responsible for fueling the black market rate to astronomical levels. Allegedly, these individuals have now been arrested, mirroring the fate of war veterans who were ordered to be arrested for protesting against their impoverished living conditions.

However, it’s essential to note that neither international sanctions nor the “Look East” policy or the Pfumvudza program can be solely blamed for the prevalence of the black market rate in Zimbabwe. The primary drivers of this economic issue lie within the realm of state interference, preservation of the status quo, and national sovereignty-threatening deindustrialization. Additionally, the influx of poor-quality Chinese goods has accelerated deindustrialization, leading to a crippling brain drain that further exacerbates the nation’s challenges.

The irony of the situation is that arresting a select few individuals as sacrificial lambs does little to address the root causes of inflation and the black market rate. Both phenomena have been appealing to the courts, hoping for justice. However, these courts are known for their subservience to ZANU PF’s intentions, which aim to preserve the existing status quo, irrespective of its detrimental effects. This status quo ultimately supports a one-party hegemony, unchecked by accountability and transparency, driven by egotistical and primitive accumulation.

It’s disheartening to observe that some people have bought into ZANU PF’s sterile propaganda about arresting those responsible for currency distortions and the discrepancies between informal and formal money markets. Despite ZANU PF’s claims, these discrepancies have only become more pronounced. Perhaps it’s time for Zimbabwe to seek assistance from international partners to address these complex economic challenges effectively.

The most literate individuals should understand that ZANU PF is responsible for the exchange rate discrepancies. Arresting a handful of individuals will not resolve the underlying issues. As long as ZANU PF continues to exist with its unchecked sadism and misplaced entitlement, the exchange rate will remain a source of instability. The only path to a sustainable solution is through internationally supervised reforms that can curb ZANU PF’s futile ambitions of a one-party state. This would not only prevent the nation from sliding further into paralysis but also safeguard it from the risk of state failure and collapse.

In conclusion, while some may celebrate the recent arrests as a sign of progress, the unfortunate reality remains that these actions do not address the root causes of Zimbabwe’s economic challenges. Until comprehensive reforms are undertaken to address state interference, accountability, and transparency, the black market rate will persist, and Zimbabwe’s path to stability will remain uncertain. The focus should shift from superficial solutions to meaningful and lasting changes that benefit the entire nation.