"Farm Mechanisation Wasn't For Free, I Paid Back The Loan" - Bhasikiti

3 years agoSun, 19 Jul 2020 11:37:08 GMT
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"Farm Mechanisation Wasn't For Free, I Paid Back The Loan" - Bhasikiti

Former ZANU PF official, Kudakwashe has dismissed as false reports which say the Farm Mechanisation loans that were issued by the Reserve Bank of Zimbabwe in 2008 were not to be paid back.

The issue of the farm mechanisation loans was revived by Alex Tawanda Magaisa, the former Chief of Staff in the office of the late former Prime Minister of Zimbabwe, Morgan Tsvangirai who in his Big Saturday Read (BSR) blog criticised the government’s assumption of the debt.

Bhasikiti says he paid back his loan. He tweeted:

Those who are saying Farm Mechanisation was for Free, are telling blatant lies. I paid 10bn for mine, which was worked out as the USD equivalent then. Everyone has to pay.CORRUPTION has to be exposed. THANK YOU ALEX MAGAISA, BSR.

Responding to Bhasikiti’s post, exiled former Minister of Higher and Tertiary Education and Technology Development, Professor Jonathan Moyo said his payment was a non-event considering that the local currency he used to repay had significantly lost value. He responded:

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You know @KbhasikitiGmai1 this claim you keep making that you paid back is precisely what is bogus & corrupt. You say you paid back “a USD loan” in 10 BILLION useless Zim dollars. Don’t you see that this Zim dollar payment of yours, using a false USD exchange rate, was corrupt?

The government’s assumption of debts of “able-bodied and financially sound individuals” was criticised by several other stakeholders including the Zimbabwe Coalition of Debt and Development (ZIMCODD) who say it adversely affected the economy.



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