AT last, I have finally read something sensible about the banking sector and agriculture.
Congratulations must go to Eric Bloch for the concise investigative arti
cle “Demands on financial institutions unreasonable,” (Zimbabwe Independent, August 27).
One of the things that amazed so many experienced agriculturalists globally is how the banking sector in Zimbabwe has survived Zanu PF’s grossly ignorant attempt to reverse- engineer this sector.
Knowing the high demands of capital required, it would be interesting to know the extent of write-off the banking sector has had to endure as a result of this agricultural lunacy.
Have the banks taken the write-off yet? Or are they holding on to the title deeds in the hope that they will be able to recover their bad debts some time in the future?
If they are living in hope and holding onto title, why would they want to lend on the same piece of land twice? And if they are living in hope, I would suggest that keeping money in a bank would be a very risky thing to do.
What Zanu PF has effectively done is destroy value and arrange it so that only they survive. Replacing title deeds with long-term leases is certainly not going to solve this problem.
If leases are not transferable, why would any bank lend money?
Despite political “bumper harvests”, the people of Zimbabwe will continue to suffer food shortages as long as Zanu PF turns the bucket of logic upside down and continue on their quest to destroy the value of Zimbabwe with Stalinist policies.
What must be understood is that Zanu PF’s borrowed policies have been tried elsewhere and have failed dismally. Look at North Korea.
What is clear is that Zimbabwe under the current regime holds no promise for the future. The slide is continuing to gather momentum.