Don't prioritise DStv: Mangudya

HARARE - Central bank governor John Mangudya yesterday put himself in line of fire when he suggested that the country should not prioritise payment of DStv subscriptions at the expense of raw materials.

Presenting his Monetary Policy Statement (MPS) in Harare yesterday, the Reserve Bank of Zimbabwe (RBZ) chief  said he was working on various measures to preserve foreign currency, which is slowly dwindling due to illicit outflows and general imports.

“The bank shall quickly move to redress this market failure through measures that compel banks to adhere to the import priority list and to mitigate against institutional indiscipline such as the use of more foreign exchange for personal card and DStv transactions ahead of raw materials to produce cooking oil, for example.

“Financial institutions should do some soul searching and rethink on how they add value to the economy under the new normal,” said Mangudya.

He said more than $206,7 million was spent in the second half of last year on card and DStv transactions paid through the nostro accounts.

“Spending more foreign exchange on DStv subscriptions than on raw materials to produce cooking oil, for example, is not only counterproductive but also illogical,” he said.

Mangudya could, however, face public backlash over his controversial statement which comes as most households are hooked to DStv viewing following their migration from the State-funded Zimbabwe Broadcasting Holdings’ ZTV.

ZTV is yet to switch to digitalisation as funding problems have stalled its migration which is supposed to be in line with the Sadc target ought to have been met in 2015.

Often derisively called Dead BC, the State broadcaster has failed to transform itself owing to poor funding, interference and tight control by President Robert Mugabe’s government.

Zimbabweans are among millions of Africans who view DStv due to its diverse and appealing programmes which include sport, news, music and soap operas.

The English Premier League is one of the biggest DStv drawcards.

Zimbabwe is currently experiencing debilitating liquid problems as a result of foreign currency shortages despite introducing the bond notes late last year.

Mangudya has directed banks to put a cap on Visa and Master Cards as the foreign currency shortages bite.

Comments (39)

Give us a break. With all the gloom in the country you want to take away our dstv and leave us with what? totaura ngano pafamily prime time. ah ya taking us back to stone age.

ndozvo - 16 February 2017

Can Mangudya honestly swear that he and his family do not have a satellite dish paid for by the Reserve bank at their home?

Jonso - 16 February 2017

Mangudya is a "circus" on his own!!!

Mukanya - 16 February 2017

its a shame

mabhugu wilson - 16 February 2017

Magudya is now clueless, wether u dont pay for DSTV subs, everything is going down. Do we have alternative entertainment and news,the answer is zero, he wants us to watch ZANU ZTV KKKKKK.

Zhara - 16 February 2017

Can mangudya be serious for once! Tofarira kupi kana woda kubvisa DSTV! totii..Kare kare, paivepo channel 203 yaive paDSTV. yayibuditsa bhora..dzinenge dzava ngano! Please let us be!

Vibration - 16 February 2017

We will always find a way to pay our DSTV, Go to hell Mangudya. You see these ZANU PF moroons are used to see themselves having good things, the rest of the people suffering. Tangai ku govt ikoko kurega kubhadhara DSTV.

bond bonus - 16 February 2017

welcome to the "North Korea" of Africa.

plunjo - 17 February 2017

Iwe mangundya hauoni dstv here

kk - 17 February 2017

makaramba ya strive masiiwa now u are complaining we could have minimized some of these costs hezvoka

critic - 17 February 2017

Mr. Mangudya you do not need to work hard, no not at all. All you need to do is to think smart and wise, be a technocrat and not a politician; and if the job is weighing you down then just resign; as of now your statements are frivolous and irresponsible for someone who claims to have a doctrate. Everyone who can afford to pay and watch Dstv let them be

Gheo - 17 February 2017

KKKKKKKKK OH YA MANGUDYA YOU WANT US TO WATCH TIRIPARWENDO KKKKKKK

safa ngendlala - 17 February 2017

KKKKKKKKK OH YA MANGUDYA YOU WANT US TO WATCH TIRIPARWENDO KKKKKKK

safa ngendlala - 17 February 2017

Ndege John M. It is not our card payments that have dwindled our foreign currency. It is your lack of knowledge in how to mange a reserve bank. You operate the RBZ as if you were running a tuckshop. Resign... You are worse than Gono. You are the one destroying the country and economy... You are the one who needs logic...

Zim citizen - 17 February 2017

Dr. Mangudya the raw material for cooking oil is nzungu. You dont need forex for that. Thats why Zanu PF gave you those farms to produce the groundnuts.

VASCOZIM - 17 February 2017

save forex by stop buying 1.5million dollar rings.

chomutengure - 17 February 2017

the last time i watched ZBC was when Jona (twitter) introduced 101% local content

justsaying - 17 February 2017

unopenga iwe unenge wakabhadharirwa full bouquete

redzva - 17 February 2017

why talk of DSTV when you guys but costly cars for your cronies. Compare the value bulldoW

katu moloi - 17 February 2017

This guy is making jokes at work, take take yourself serious Minister. Dstv has nothing to do with the fact that 15 billion got missing in zim

Officer - 17 February 2017

Rubbish nxaaaaa!

laka - 17 February 2017

l thnk ths is weird, this man doesnt even know on Which channel do ZBC tv, shows on dstv, wants to incite the evil people from th government to block...peoples' choice of media...(DSTV0,

Geronimo - 17 February 2017

Yet you approve government to import vehicles at more than $250 million when we could buy those with bond notes locally. Buying $1.4 million dollar rings from a $12,000 a month salary. All these you don't see, you can only see people paying for DSTv?

XG - 17 February 2017

Mangundya enda kwaMagaya unobviswa madhimoni so that you become normal

MILLIONNAIRE - 20 February 2017

go f**ck yourself ngudya. educated fool.

mbudhlo - 21 February 2017

All along ndandisingakupihweyi zvakanaka vaMangudya but now ndazoona kuti you are a very sick man. You need help

olga - 21 February 2017

Aaa....... ndokupererwaka uku. Ndashaya zvekutaura ini

dankay - 21 February 2017

vaku rovawo musombodia here vakuru ava

mukuruvambwa - 21 February 2017

Until Maisa sensible programming Mr Mangudya and the concerned party (ZBC) regai tione DSTV yacho

Zwelithini Farai Singwango - 22 February 2017

VaMangudya cries foul about DSTV subs yet the government cant grant Kwese TV an operating licence. Will that not solve the flight of forex?

Kembo - 22 February 2017

Whats your problem Mangudya? I thought pple were using their hard earned cash to subscribe their DSTV accounts.Pple have their us dollars in their accounts which they are failing to withdraw coz yourself and your ZANU PF cronnies were externalising foreign currency. Actually iwewe you should be arrested for mixing mvura nemukaka. How can yu just introduce your useless bond notes in pple's US accounts.

Robsugar - 23 February 2017

Apparently the government reject an initiative by kwese Tv owned by a Zimbabwean with interest here, and they complain of dstv nxaaaaa and other contries welcomes kwese tv with open hands and they are way better that us economically

lera - 20 April 2017

******* *********** *********** ********ke iwe ************* *** ukwan* ***** ****** ****** ****

gukashkukash - 30 April 2017

mangudya is a dead man walking

magama - 1 May 2017

The money in my account is my money. I have a freedom of choice on how to use my money. as long i dont support crimes and remain a law abiding citizen rbz must never interfere with my domestic affairs. let me also remind your doctor that rbz's mandate is to regulate the fiscal and also to stimulate economic growth. when an rbz is now regulating at the expense of stimulating growth there is a problem. big one. yes. thats why we are in this problem. you spent your nights thinking ways on how to fix the citizenry. think.

douglas shoko - 9 May 2017

Mangudya uri mhata. Who uses more forex, the one who goes to singapore or medical treatment, the huge useless delegations to meaningless trips or the dstv subs.

silent - 13 May 2017

see reason, stop barking mangudya

chrisc - 15 May 2017

The reason why there is forex shortage in zimbabwe is because there is no production, hence, no exports that brings foreign currency and not DSTV SUBSCRIPTIONS.

manyange power - 13 July 2017

What will the First Family and all the crooked cabinet ministers, including yourself, Mangudya, watch when you don't have DSTv? ZBC is a load of rubbish - whoever wants to watch that? Maybe you should stop the school payment s for those (in)famous 2 kids who are terrorizing the residents of classy Sandton, plus a whole lot of other overseas school fees!

Homo Erectus - 19 July 2017

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