
Zimbabwe’s U-turn on job cuts may hurt investment
In Zimbabwe, an abrupt U-turn by the government on planned retrenchments in the public service could hurt investment inflows.
On Tuesday the Information Minister said plans by the finance minister to lay off 25,000 civil servants and scrap bonus payments, had not been approved by the Cabinet.The move was met with resistance, with activists calling for more protests against economic mismanagement and shortages.
The main public service union, the Apex Council, met on Wednesday and welcomed the government’s reversal of the country’s Finance Minister Patrick Chinamasa’s measures, but wants the decision communicated officially to the union at a meeting with government set for Friday.