INTERNATIONAL - Volatility has hit Zimbabwean financial markets leading to a spike in bitcoin prices to $13000 (Global average is about $7000 per bitcoin) and a surge in the US dollar/bond note parallel exchange rate as political upheavals escalate.
President Robert Mugabe yesterday fired his deputy, Emmerson Mnangagwa, for "disloyalty, deceitfulness and disrespect". Mugabe "exercised his powers" to relieve Vice-President Emmerson Mnangagwa of his position, Information Minister Simon Khaya Moyo said at a press briefing in Harare.
Mnangagwa, long touted as a likely successor to Mugabe, stands accused of plotting to topple Mugabe, in charge of Zimbabwe since independence from Britain in 1980.
The Zimbabwean first lady said there was nothing wrong in her gunning for a higher position of power and many believe Mnangagwa, said to enjoy the support of the military, stands in her way. The political uncertainty, which has worsened in the past few months, has come on the backdrop of a spike in parallel market currency rates.