Monday, June 01

Army & Police Takes Over Harare CBD 3251 People Charged With Violating Lockdown

Zimbabwe has moved into a potentially defining moment in terms of enforcement of the 21-day lockdown, with a heavy police and army presence on all roads leading into Central Business District (CBD) of Harare today, following worryingly large numbers of people this week.

All passengers were asked to produce letters from employers indicating they are part of the skeletal staff manning offices and/ or factories during this period. The town was literally deserted with a few people on the streets and some getting into supermarkets. Pick n Pay (Jason Moyo Branch) is one of the few shops open in the CBD.

So serious were the security forces’ operation that for the first time since the lockdown started 12 days ago, there are officers at Cnr Herbert Chitepo  and Leopold Takawira Street. The decision to man all routes into town follows reports that some citizens were using uncommon routes to sidestep security checkpoints.

There were reports early morning that some Zimpapers newspaper vendors were asked to vacate their selling points at Cnr Simon Muzenda Street and Samora Machel Avenue, and Rotten Row Street and Simon Mazorodze. Refreshingly, security officers manning the checkpoints have face masks and gloves after concerns that they were being exposed to the deadly virus by engaging people without protective clothing.

This reporter was stopped by friendly police in anti-riot gear at NetOne Building and asked to explain his business in the  CBD. The surge in numbers of security details come on the back of concerns by Government and experts yesterday that Zimbabwe risked reversing the gains recorded last week when many citizens largely heeded the lockdown directive.

Health experts fear there could be an explosion of fresh Covid-19 cases in the next few weeks if people continued to flood the streets. Updating journalists on the post-Covid-19 Taskforce daily meeting at State House in Harare last night, Information, Publicity and Broadcasting Services Minister Monica Mutsvangwa expressed concern over the high number of people violating the lockdown regulations.

As at yesterday, 3 251 people had been arrested for violating lockdown measures. “It is disheartening to note that some citizens are willing to put themselves and those around them at risk by flouting the lockdown regulations,” said Minister Mutsvangwa.

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Student Loan Refinancing: Managing Education Debt More Effectively

Student loan refinancing is becoming a popular solution for graduates and professionals seeking better repayment options. Refinancing combines existing student loans into a single new loan with updated interest rates and repayment terms. This process can simplify monthly payments and potentially reduce the total amount paid over time.

Many private lenders offer flexible refinancing plans designed to help borrowers manage education debt more efficiently. Professionals with steady income and strong credit history may qualify for lower interest rates and improved repayment schedules. Some lenders also provide additional benefits such as autopay discounts, flexible loan terms, and no hidden application fees.

Borrowers should carefully review their current loan situation before refinancing. Federal student loans often include valuable protections such as income-driven repayment plans and loan forgiveness programs. Understanding the difference between federal and private refinancing options is essential before making a final decision.

Financial experts recommend comparing several lenders, reviewing loan terms carefully, and creating a repayment strategy that supports long-term financial goals. Responsible debt management and consistent payments can also help improve credit scores and financial stability over time.

Mortgage Refinance Guide: When Does Refinancing Make Sense?

Mortgage refinancing means replacing your current home loan with a new one. Homeowners refinance for several reasons, including lowering the interest rate, reducing monthly payments, changing loan terms, removing mortgage insurance, or using home equity through a cash-out refinance.

Refinancing can be a smart financial move, but it is not always the right choice. The biggest question is whether the savings outweigh the cost. Refinance loans often include closing costs, lender fees, appraisal fees, title fees, and other expenses. Even if the new loan has a lower monthly payment, it may take months or years to break even.

One common reason to refinance is to lower the interest rate. A lower rate can reduce your monthly payment and save money over the life of the loan. However, the amount you save depends on your current balance, remaining loan term, new rate, and closing costs.

Another reason is to shorten the loan term. For example, changing from a 30-year mortgage to a 15-year mortgage may help you pay off the home faster and reduce total interest. The monthly payment may increase, but long-term savings can be significant.

Some homeowners refinance to switch from an adjustable-rate mortgage to a fixed-rate mortgage. A fixed-rate loan offers predictable payments, which can be helpful for budgeting.

A cash-out refinance allows homeowners to borrow more than they owe and receive the difference in cash. This money may be used for home improvements, debt consolidation, or major expenses. However, it increases the loan balance and uses your home as collateral, so it should be considered carefully.

Before refinancing, calculate your break-even point. Divide the total closing costs by your monthly savings. For example, if refinancing costs $4,000 and saves $200 per month, it would take 20 months to break even. If you plan to move before then, refinancing may not be worth it.

Credit score, debt-to-income ratio, home value, and income all affect refinance approval and pricing. Improving your credit and paying down debt before applying may help you qualify for better terms.

Compare offers from multiple lenders. Look at the annual percentage rate, closing costs, monthly payment, loan term, and whether the rate is fixed or adjustable.

Refinancing can be useful when it supports your financial goals, but it should not be done only because a lower payment looks attractive. Always review the total cost, long-term impact, and risks before signing.