This article is motivated by the predicament that hit pensioners in Zimbabwe following the introduction of the multi-currency system. Zimbabwe experienced economic woes which rendered the Zimbabwean dollar worthless a...This article is motivated by the predicament that hit pensioners in Zimbabwe following the introduction of the multi-currency system. Zimbabwe experienced economic woes which rendered the Zimbabwean dollar worthless and consequently necessitating a switch to stable currencies. The pension assets and liabilities were invested in the local currency before the currency reform, and the result of the multi-currency system was a mismatch of the assets and liabilities of the pension funds financial position which led to paltry pension benefits. The nature of pension funds places a great responsibility on the stakeholders who are involved in running these schemes and therefore ensuring that reasonable expectation by beneficiaries is met. The article focuses on the core aspects surrounding the structure and managing of pension funds in Zimbabwe. The researcher investigated the roles of important stakeholders in the Zimbabwean pension industry, namely, government, trustees, investment managers, and actuaries. The article further delves into the ethical issues and challenges faced by those managing Zimbabwean pension funds. The researcher conducted a total of 30 personal interviews to collect primary data from professionals in the Zimbabwean pension industry which were split as follows： 10 trustees, 10 investment managers, and 10 actuarial consultants. Secondary data were also used in this study and it comprised of journals, newspaper articles, investment reports, and textbooks. The researcher recommends that pension funds develop sound corporate governance mechanisms that will encourage the best ethical practices among all of their stakeholders. The findings provide evidence for a need to empower pension fund trustees through training and introduction of a pension protection scheme. In addition, the current regulatory system needs to be reviewed to capture the changing economic environment upon which pensions funds operate.展开更多
The Lancaster House negotiations from September 1979 to the close of the year sought to bring to an end the chapter of the Second Chimurenga of Zimbabwe. Outside discussions on the land issue, one of the agreements ma...The Lancaster House negotiations from September 1979 to the close of the year sought to bring to an end the chapter of the Second Chimurenga of Zimbabwe. Outside discussions on the land issue, one of the agreements made at the Lancaster was that 12 Assembly Points be set up throughout the country to house guerrillas and initiate a demobilising exercise. Each was to be manned by a small contingent of the British Army and all the Zimbabwean National Liberation Army （ZANLA） and Zimbabwe People＇s Revolution Army （ZIPRA） guerrillas, in any one area, were to go to the closest assembly point. The Assembly Points, which included Dzapasi/Foxtrot in Buhera, Chitungwiza, Connemara, and Mike in Lupane, at one time housed 17,000 guerrillas. Tension was very high inside and outside these Assembly Points. In 1980, there were sporadic outbursts of violence around these points all over the country. The fights recurred in 1983 killing over 300 people. This research proposes to pore over the nature of the violence in this historical epoch to try and understand its roots as well as to establish whether attempts at accountability, reconciliation, healing, and integration were made after the Assembly Points era and if not, whither Zimbabwe？展开更多
文摘This article is motivated by the predicament that hit pensioners in Zimbabwe following the introduction of the multi-currency system. Zimbabwe experienced economic woes which rendered the Zimbabwean dollar worthless and consequently necessitating a switch to stable currencies. The pension assets and liabilities were invested in the local currency before the currency reform, and the result of the multi-currency system was a mismatch of the assets and liabilities of the pension funds financial position which led to paltry pension benefits. The nature of pension funds places a great responsibility on the stakeholders who are involved in running these schemes and therefore ensuring that reasonable expectation by beneficiaries is met. The article focuses on the core aspects surrounding the structure and managing of pension funds in Zimbabwe. The researcher investigated the roles of important stakeholders in the Zimbabwean pension industry, namely, government, trustees, investment managers, and actuaries. The article further delves into the ethical issues and challenges faced by those managing Zimbabwean pension funds. The researcher conducted a total of 30 personal interviews to collect primary data from professionals in the Zimbabwean pension industry which were split as follows： 10 trustees, 10 investment managers, and 10 actuarial consultants. Secondary data were also used in this study and it comprised of journals, newspaper articles, investment reports, and textbooks. The researcher recommends that pension funds develop sound corporate governance mechanisms that will encourage the best ethical practices among all of their stakeholders. The findings provide evidence for a need to empower pension fund trustees through training and introduction of a pension protection scheme. In addition, the current regulatory system needs to be reviewed to capture the changing economic environment upon which pensions funds operate.
文摘The Lancaster House negotiations from September 1979 to the close of the year sought to bring to an end the chapter of the Second Chimurenga of Zimbabwe. Outside discussions on the land issue, one of the agreements made at the Lancaster was that 12 Assembly Points be set up throughout the country to house guerrillas and initiate a demobilising exercise. Each was to be manned by a small contingent of the British Army and all the Zimbabwean National Liberation Army （ZANLA） and Zimbabwe People＇s Revolution Army （ZIPRA） guerrillas, in any one area, were to go to the closest assembly point. The Assembly Points, which included Dzapasi/Foxtrot in Buhera, Chitungwiza, Connemara, and Mike in Lupane, at one time housed 17,000 guerrillas. Tension was very high inside and outside these Assembly Points. In 1980, there were sporadic outbursts of violence around these points all over the country. The fights recurred in 1983 killing over 300 people. This research proposes to pore over the nature of the violence in this historical epoch to try and understand its roots as well as to establish whether attempts at accountability, reconciliation, healing, and integration were made after the Assembly Points era and if not, whither Zimbabwe？
