Saturday, May 23

Manyemwe Emhuru Aya MDC Alliance Declares It Will Get All Its Parliamentary Seats Back

THE opposition MDC Alliance has vowed to fight what it terms “the subversion of the people’s will” by taking back the parliamentary seats which the Thokozani Khupe-led MDC-T grabbed through parliamentary recalls and intends to fill with its nominees.

MDC Alliance secretary-general Chalton Hwende said the party was concluding consultations with the electorate to block the unconstitutional and subversion of the people’s will.
“The people voted us into office and the Zanu-PF government is trying to block the social contract that we signed with the electorate. This is clearly a subversion of the people’s will. The people are now being forced to be led by the people they rejected in elections,” he said.

“We are concluding our consultations with the electorate and we will advise the route we are taking. The Zanu-PF government has turned this country to be among fascist regimes. The voters will express their anger on the subversion of their will.”

In a notice yesterday, Zimbabwe Electoral Commission (Zec) chief executive officer Utoile Silaigwana said the commission was ready to fill the vacant 15 proportional representation posts in line with section 39 of the Electoral Act.

“Zimbabwe Electoral Commission would like to inform the public that it is proceeding with filling in the proportional representation vacant seats which arose from recalls made by MDCT party in line with provisions of section 39 of the Electoral Act,” he said.

“It is important to note that the commission is not the arbiter of who may or not recall a Member of Parliament. It merely facilitates the filling of the resultant vacancy in the confidence that Parliament has conformed to its governing procedures and to the law in notifying it of the vacancies.”

Silaigwana said if there were objections to the creation of the vacancy, the “remedy for that lies not in an attack on the performance of peremptory statutory functions by the commission, but elsewhere”

Last week, legal think-tank Veritas warned that Zec might entangle itself in legal hurdles if it fills the vacancies as the recalls were legally questionable.

Parliament accepted the recall of the MPs from the Nelson Chamisa-led party despite that the fired legislators contested under MDC Alliance and competed against MDC-T candidates.

MDC-T acting secretary-general Douglas Mwonzora recalled 21 MDC Alliance legislators from Parliament after the Supreme Court judgment of March 30, 2020 restored Khupe as interim party leader.

Some MDC Alliance councillors have also been recalled.

MDC-T acting spokesperson Khaliphani Phugeni yesterday said the party had already sent its nominees list to Zec.

“The secretary-general Douglas Mwonzora has submitted the list to Zec and there is no violation of the Constitution because it is clear that when a party sponsors a member to represent Parliament and if that sponsored member ceases to be a member of that party, that party can choose a representative. The Constitution is being followed here,” he said.

In Harare, the party nominated Yvonne Musarurwa and Lindani Moyo, Mashonaland Central (Sawuke January), Manicaland (Getrude Moyo), Matabeleland South (Sipho Mokone and Nomalanga Khumalo), Bulawayo (Khupe, Phugeni, Tamano Moyo and Dorothy Ndlovu), Matabeleland North (Chief Ndlovu and Lwazi Sibanda), Midlands (Teti Banda), Masvingo (Memory Munochinzwa) and Mashonaland East (Piniel Denga).

The MDC Alliance yesterday said the move was meant to cripple its leader Chamisa through the court rulings and give an edge to Zanu-PF.

According to a source, the MDC-T is expected to recall more constituencybased legislators from the MDC Alliance when Parliament resumes sitting next Tuesday.

The High Court on Friday dismissed an urgent bid by 14 recalled legislators to stop the MDC-T from replacing them in Parliament.

Political analyst Rashweat Mukundu said Zec was violating the Electoral Act and voters’ rights.

“People cast their ballots in the 2018 harmonised elections and they picked MDC Alliance candidates against MDCT candidates, so this is a gross violation of the rights of the electorate. This shows how interference of the Judiciary by the State has made this to happen,” he said.

“Filling the vacant posts with MDCT candidates is violating voter’s rights. Even those parliamentarians (MDC Alliance) who supported Khupe have violated their social contract with voters. This shows the high level of political chaos in this country and it needs to be corrected sooner rather than later.”

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Debt Consolidation Loans: Are They Worth It?

Debt can become overwhelming when you are juggling multiple credit cards, personal loans, medical bills, and high-interest payments. A debt consolidation loan may help simplify your finances by combining several debts into one monthly payment.

The main goal of debt consolidation is to get a lower interest rate, reduce payment stress, and create a clearer payoff plan. Instead of making several payments to different lenders, you make one payment to one lender.

Debt consolidation may be worth it if you qualify for a lower interest rate than what you are currently paying. This is especially helpful for credit card debt, which often has high interest rates.

However, debt consolidation is not magic. It does not erase your debt. It only restructures it. If you continue using credit cards after consolidating, you may end up with even more debt.

Before applying, check the loan’s interest rate, fees, repayment term, monthly payment, and total cost. A lower monthly payment may sound good, but if the loan term is much longer, you may pay more interest over time.

Your credit score affects your options. People with strong credit usually qualify for better rates. If your credit score is low, you may receive high-interest offers that do not actually save money.

Debt consolidation can also help your credit if you make payments on time and reduce credit card balances. But missing payments can damage your credit further.

Other options may include credit counseling, balance transfer cards, debt management plans, or budgeting changes.

A debt consolidation loan is worth considering if it lowers your interest, creates a realistic payoff plan, and helps you stop relying on credit cards.

The key is discipline. Consolidation works best when you combine it with better spending habits and a serious plan to become debt-free.

Mortgage Refinancing: Lower Your Payments and Save More Over Time

Mortgage refinancing is one of the most effective financial strategies homeowners can use to reduce monthly payments, lower interest rates, or access home equity. By replacing your existing mortgage with a new loan that has better terms, you can potentially save thousands of dollars over the life of your loan. Whether you're looking for low interest mortgage rates, cash-out refinancing options, or fixed-rate home loans, understanding how refinancing works is essential before making a decision.

Refinancing is especially popular when interest rates drop or when a homeowner’s credit score improves. Many borrowers take advantage of refinancing to switch from an adjustable-rate mortgage (ARM) to a fixed-rate mortgage, providing long-term financial stability. Others use cash-out refinancing to tap into their home’s equity, allowing them to fund renovations, consolidate debt, or invest in other opportunities. While refinancing offers many benefits, it’s important to carefully evaluate your goals and financial situation to ensure it’s the right move.

How Mortgage Refinancing Works

When you refinance your mortgage, you essentially take out a new loan to pay off your existing one. The new loan comes with updated terms, including a new interest rate, repayment period, and monthly payment. Lenders will evaluate your financial profile, including your credit score, income, debt-to-income ratio, and home value, to determine eligibility.

The process typically involves submitting an application, providing documentation, and undergoing a home appraisal. Once approved, the new loan replaces your current mortgage, and you begin making payments under the new terms. Many homeowners search for best mortgage refinance lenders to ensure they secure the most favorable deal.

Benefits of Refinancing Your Mortgage

One of the biggest advantages of refinancing is the opportunity to secure a lower interest rate. Even a small reduction in your rate can lead to significant savings over time. Lower monthly payments can free up cash flow, making it easier to manage other financial responsibilities.

Another benefit is the ability to shorten your loan term. For example, switching from a 30-year mortgage to a 15-year loan allows you to pay off your home faster and reduce total interest costs. Additionally, cash-out refinancing gives homeowners access to funds for major expenses, often at lower interest rates than personal loans or credit cards.

When Is the Right Time to Refinance?

Timing plays a critical role in refinancing decisions. Homeowners should consider refinancing when interest rates are significantly lower than their current rate. A general rule of thumb is that reducing your rate by at least 1% can make refinancing worthwhile.

Improving your credit score can also help you qualify for better loan terms. If your financial situation has improved since you first obtained your mortgage, refinancing could provide substantial savings. Additionally, homeowners planning to stay in their property long-term are more likely to benefit from refinancing, as it takes time to recover closing costs.

Costs and Considerations

While refinancing offers many benefits, it’s important to consider the associated costs. These may include application fees, appraisal fees, and closing costs, which can range from 2% to 5% of the loan amount. Calculating your break-even point—the time it takes to recover these costs—is essential before proceeding.

Borrowers should also be cautious about extending their loan term, as this can increase the total amount of interest paid over time. Working with a trusted mortgage refinancing company can help you evaluate your options and make an informed decision.

Final Thoughts

Mortgage refinancing can be a powerful tool for improving your financial situation, but it requires careful planning and research. By understanding the process, comparing lenders, and evaluating your long-term goals, you can make a decision that aligns with your needs. Whether you’re looking to reduce monthly payments or access equity, refinancing offers opportunities for greater financial flexibility.

 

Financial experts recommend working with licensed mortgage lenders, certified financial advisors, and reputable home loan providers when considering refinancing options. Professional guidance ensures better loan terms and long-term financial stability.