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RBZ Debt Assumption Bill: Here is what Mliswa said in Parly [2015]

Honourable Temba Mliswa: I rise to support the Reserve Bank Debt Assumption Bill which is in the interest of Zimbabwe. First and foremost, I would like to enlighten some Honourable Members that any government which has a good economy does a lot of subsidies.

Some of these subsidies are on agricultural inputs and implements. Government subsidies have no limit. It could be to an extent where goods and equipment are issued for free. The Government would be driven by the fact that whatever its intervention is good for the country.

I say so because in Europe, a lot of countries follow the European example. In Europe, a lot of milk was being produced and they were ordered to throw away their milk and the governments paid or compensated for the milk. They threw away the milk and the government paid because there was a glut of milk on the market. So, if the government does not have sufficient funding, can it not then pay a debt to alleviate the people’s poverty.

If you look at the Government’s subsidies, they are in order. I have come up with a dimension on why some benefited and others did not. What is fundamental is that was it good that they be given? Was corruption involved? The state has various agencies such as ZRP and other agencies that can look into such issues. They have the right to investigate such cases.


Anyone who is disgruntled is free to go and report to those agencies so that Honourable Mliswa can be arrested if he has committed a crime. We should not allege corruption without any evidence. That is not proper.

I am also saying that we should not focus more on implements when the debt rose as a result of companies whose bank accounts were raided by the RBZ. For us to go ahead, we require credibility and for us to have credibility, we must pay back to the banks. If we do not do that, our banking sector will lose its credibility and that is why at the moment we have a liquidity crunch.

People are keeping their monies in their homes because they are afraid that their monies in the banks might be taken. It is proper for the government to assume the RBZ debt and that way, we will have credibility in the financial sector and our country will be able to develop. If there is no credibility in the financial sector, we are sitting in this House for no reason.

We have a good Governor, Dr. Mangudya who has helped many people even those in the opposition. We would want him to start his duties on a clean slate as they say in English. Given his intelligence that he is not opposed by anyone in this august House, our economy will grow to greater heights. So, it is fundamental that the credibility of the financial sector be restored.

I say so because some of these accounts were offshore. We are looking for offshore loans at the moment because we have a debt that has not been liquidated. Funding is found offshore. I also heard that, Madam Speaker, those who have not accessed implements, Honourable Dr. (Joseph) Made is also waiting to give implements to those of the opposition.

Honourable Dr. Made is waiting to give them the implements from Brazil but it is a requirement that one should first have the land, once you have the land, you will be allocated equipment.You heard in this august House, Honourable (Irene) Zindi asking about the disbursement of the Brazilian equipment, Honourable Dr. Made said that he is waiting for the majority to have land so that tractors can be distributed.

So, I look forward that they are going to be given tractors and then we pull in the same direction. I thank you Get all COVID-19 statistics for Zimbabwe from COVID-TRACKER

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Daniel Chigundu

Daniel Chigundu is the news editor for OpenParlyZW an online platform that covers Parliament of Zimbabwe activities using social media (Twitter and Facebook). He is currently the secretary-general of the Zimbabwe Parliamentary Journalists Forum and a board member of Digital Communication Network.

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