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Zimbabwe to keep Zimdollar
Zimbabwe plans to keep its local dollar, a currency that has lost value every single trading day of the year, even as fiscal and monetary authorities work on new plans to revamp the currency, accordin...Published: 26 Mar 2024 at 06:37hrs | 690 | by Staff reporter
Southern Africa just had its driest February on record
A swathe of Southern Africa suffered the driest February in decades that wiped out crops, precipitated power shortages and threatened to send already high food prices surging further.Last mont...Published: 11 Mar 2024 at 17:10hrs | 738 | by Staff reporter
Mthuli Ncube sees $18bn debt talks on course despite US exit
Talks on the restructuring of Zimbabwe's $18 billion debt remain on track, even after the US paused its involvement in the discussions, Finance Minister Mthuli Ncube said.The discussions led b...Published: 07 Mar 2024 at 05:13hrs | 554 | by Staff reporter
Coltart attends AMALI conference
BULAWAYO mayor David Coltart last week attended the annual African Mayors Leadership Initiative (AMALI) that was held at the University of Cape Town in South Africa aimed at enabling African city fath...Published: 06 Feb 2024 at 04:37hrs | 472 | by Staff reporter
Coltart brings Bloomberg Funds to Bulawayo
BULAWAYO is among 150 cities from across the world that are set to benefit from the Bloomberg Philanthropy Youth Climate Action Fund, which seeks to rapidly launch and support youth-led climate initia...Published: 02 Feb 2024 at 04:55hrs | 2561 | by Staff reporter
Coltart engages Cincinnati, Cologne for twinning opportunity with Bulawayo
BULAWAYO Mayor David Coltart has unveiled initiatives aimed at fostering partnerships with the American town Cincinnati and Germany's Cologne, as part of several developments. These plans include a me...Published: 05 Dec 2023 at 05:39hrs | 452 | by Staff reporter
US resists pressure to reform IMF voting shares
US Treasury Secretary Janet Yellen showed little willingness to embrace reforms at the International Monetary Fund that would give China and other developing countries significantly more say in how th...Published: 12 Oct 2023 at 06:18hrs | 122 | by Staff reporter
AU accomplice in Zimbabwe corruption
THE sincerity of African leaders and institutions in fighting corruption has come under scrutiny following the appointment of controversial Zimbabwean self-styled prophet Uebert Angel as its Pan-Afric...Published: 25 Jul 2023 at 08:24hrs | 31 | by Staff reporter
Zimbabwe central bank owes over $4bn for food, fuel supply
Zimbabwe's central bank has racked up debts of more than $4 billion to banks and companies, including commodities giant Trafigura Group and national flag carrier South African Airways.The Rese...Published: 22 Jul 2023 at 08:07hrs | 10 | by Staff reporter
Gold Standard pauses issuance of CO2 credits from Zimbabwe
GOLD Standard, a verifier of carbon offsets, is temporarily pausing the issuance of credits from projects based in Zimbabwe, after the country's announcement earlier this year that it plans to take ha...Published: 17 Jul 2023 at 06:50hrs | 11 | by Staff reporter
UAE suspends Gold Refinery over owners' alleged laundering links
The United Arab Emirates suspended the accreditation of one of its biggest gold refineries over concerns that its owners had ties to alleged money launderers.Emirates Gold DMCC — which has o...Published: 15 Jul 2023 at 11:17hrs | 16 | by Staff reporter
Zimbabwe industrial power users to raise $250 million for floating solar panels
Zimbabwe's industrial electricity consumers and exporters aim to raise $250 million to build the first phase of floating solar panels on the world's largest man-made lake.Members of the Intens...Published: 05 Jul 2023 at 18:11hrs | 14 | by Staff reporter
Mbalula remarks reflect how Zimbabweans are weighing on SA's public service delivery
NOTWITHSTANDING massive infrastructure projects and other developmental initiatives being undertaken in Zimbabwe, the Zimbabwean development question remains debatable.A majority of the ongoin...Published: 04 Jul 2023 at 07:07hrs | 5 | by Zimbabwe Coalition on Debt and Development
Western backed Zambia wins debt relief
Zambia reached an agreement in principle to restructure US$6,3 billion of debt with bilateral lenders, setting a precedent for a growing list of countries struggling to service their liabilities....Published: 26 Jun 2023 at 06:45hrs | 1 | by Staff reporter
Zimbabwe is heading towards economic armageddon, says America's Steve Hanke
Steve Hanke, a Professor of Applied Economics at The Johns Hopkins University in Baltimore, USA, has predicted a catastrophic downfall of the Zimbabwean economy describing its trajectory as "heading t...Published: 13 Jun 2023 at 14:29hrs | 15 | by Staff reporter
Zimdollar rates race to 3,000
In a significant blow to Zimbabwe's economy, the country's dollar experienced a sharp decline of 26 percent during Tuesday's foreign-exchange auction, a Bloomberg report said. The official exchange ra...Published: 24 May 2023 at 17:12hrs | 2 | by Staff reporter
Mthuli Ncube rules out ditching Zimdollar
Zimbabwe plans to keep its local currency as legal tender, even as the US dollar is now the unit of choice for most transactions in the economy.The extensive use of US dollars doesn't concern ...Published: 22 Apr 2023 at 19:08hrs | 7 | by Staff reporter
China Energy proposes $1 billion floating solar farm In Zimbabwe
More than 1.8 million photovoltaic panels installed over 146 modular floating units would be used for the Lake Kariba project.China Energy Engineering Group proposed building a 1,000-megawatt ...Published: 28 Mar 2023 at 06:57hrs | 4 | by Staff reporter
AfDB appointed adviser for Batoka Gorge project
THE African Development Bank has been appointed lead financial adviser for the planned US$5-billion Batoka Gorge hydro-power dam, designed to supply Zambia and Zimbabwe, which are facing crippling pow...Published: 15 Feb 2023 at 05:00hrs | 6 | by Staff reporter
Zimbabwe among top 24 tourists destinations
GLOBAL business and financial media group, Bloomberg, has listed Zimbabwe among top 24 destinations to visit in 2023, despite widespread negative foreign publicity and a southern African nation's tank...Published: 16 Jan 2023 at 16:23hrs | 4 | by Staff reporter
Musk 'frees' the bird
Elon Musk became Twitter Inc's owner on Thursday, firing top executives and providing little clarity over how he will achieve the lofty ambitions he has outlined for the influential social media platf...Published: 29 Oct 2022 at 20:51hrs | 16 | by Staff reporter
IMF says gold coins missed chance to build Zimbabwe reserves
The gold coins that have been in circulation in Zimbabwe for almost three months are a missed chance to build the nation's gold reserves, according to the International Monetary Fund."The sale...Published: 23 Sep 2022 at 05:57hrs | 3 | by Staff reporter
Mnangagwa's govt bars State agencies from charging fees in US dollars
Zimbabwe banned government ministries and local authorities from charging fees and levies in foreign currency, the Ministry of Finance said."Treasury notes with concern that some government ag...Published: 04 Sep 2022 at 15:20hrs | 7 | by Staff reporter
South Africa plans to end most special permits for foreigners
South Africa plans to end most special permits for foreigners as it revamps its immigration policies to manage an influx of economic migrants.The government announced that a special dispensati...Published: 26 Aug 2022 at 20:48hrs | 18 | by Staff reporter
Zimbabwe central bank considers currency board
ZIMBABWE is considering establishing a currency board to support the Zimbabwean dollar, as inflation surges.The southern African country is fast moving back into a hyperinflationary crisis, ab...Published: 12 Aug 2022 at 20:19hrs | 32 | by Staff reporter
'Zimdollar at risk of complete rejection'
ZIMBABWE'S local currency is at "risk" of being shunned if runaway inflation isn't quelled, the country's largest business group said.Policy interventions implemented by authorities over the l...Published: 07 Jul 2022 at 08:22hrs | 9 | by Staff reporter
Sanctions make Russian debt default a non-event
Russia is on the brink of its first debt default since 1998 as the Sunday deadline to make a $100m interest payment seems certain to be missed.Russia has the money and is willing to pay, but s...Published: 26 Jun 2022 at 09:26hrs | | by BBC
Zimbabwe thermal power plan under threat?
ZIMBABWE'S plan to refurbish two idle coal-fired power stations has been thrown into disarray by China's decision to ban investment in plants burning the dirtiest fossil fuel outside its borders....Published: 10 Jun 2022 at 07:55hrs | 14 | by Staff reporter
132% inflation no cause for 'panic', says Mthuli Ncube
Zimbabwe is taking steps to tackle an inflation rate that's jumped to 132% after its currency slumped, Finance Minister Mthuli Ncube said."We are instituting measures that every other country ...Published: 27 May 2022 at 06:53hrs | 12 | by Staff reporter
Mnangagwa's govt jittery
GOVERNMENT is in panic mode and fears an uprising hence resorting to using the police, military and other security organs as a section of Zimbabweans push for economic order, with analysts predicting ...Published: 15 May 2022 at 17:56hrs | 13 | by Staff reporter
Mnangagwa to copy Putin's currency strategy
Zimbabwe's President Emmerson Mnangagwa is trying to emulate Russian President Vladimir Putin in his attempt to revive Africa's worst performing currency. Mnangagwa's administration may announ...Published: 03 May 2022 at 06:43hrs | 8 | by Staff reporter
Trafigura seeks control of Zimbabwe metals over debts
TRAFIGURA Group and Zimbabwe's government have discussed a deal that would give the commodities trader control over output from some of the nation's biggest mines as repayment for debts, documents see...Published: 30 Apr 2022 at 16:15hrs | 12 | by Staff reporter
The latest risks & opportunities in the cryptocurrency market
The cryptocurrency markets never stand still. For some, that is their greatest feature, but for others, it's what stands in the way of mass adoption of alternative currencies. What are the latest risk...Published: 28 Apr 2022 at 16:20hrs | 17 | by Staff Writer
Russia's rouble comes roaring back
The rouble has surged all the way back to where it was before Russia invaded Ukraine, closing at 79,7 in Moscow on Wednesday.In the days after the Ukraine war began, the rouble's collapse was ...Published: 08 Apr 2022 at 06:40hrs | | by Staff reporter
IMF sees positive economic recovery signs in Zimbabwe
The International Monetary Fund (IMF) says there are positive signs of the economic recovery in Zimbabwe starting last year after two years of recession, adding that Government had done well in addres...Published: 25 Mar 2022 at 05:53hrs | | by Staff reporter
Headache over soaring fertiliser prices
Ben Riensche, who farms 16 000 acres in Iowa, would be ecstatic to get US$80 per acre selling his corn.But it'll cost him US$240 an acre to feed the plants with nitrogen, triple what he's used...Published: 06 Mar 2022 at 08:14hrs | 11 | by Staff reporter
81% of wars between 1945 and 2001 were launched by the US
The Chinese Embassy in Russia has shared a list of US bombings and invasions since World War 2Chinese diplomats have published a list of US military adventures in recent decades, arguing that ...Published: 27 Feb 2022 at 08:07hrs | 9 | by Staff reporter
5 amazing CBD products you didn't know existed
Cannabidiol (CBD) products are getting very popular. We need more research, but CBD has proven to be a helpful and non-toxic option for managing chronic pain, anxiety, insomnia, and so on. ...Published: 12 Feb 2022 at 16:35hrs | 15 | by Staff writer
Zimbabwe on verge of redollarisation?
GOVERNMENT's failure to resolve a perennial currency crisis could push Zimbabwe back into dollarisation, analysts warned yesterday.In the past year, markets have been increasingly rejecting th...Published: 02 Feb 2022 at 05:33hrs | 12 | by Staff reporter
Bank workers reject Zimdollar salaries
THE Zimbabwe Banks and Allied Workers Union (Zibawu) yesterday threatened a crippling job action, as they escalated demands for United States dollar-indexed salaries.Bank workers have joined a...Published: 01 Feb 2022 at 05:32hrs | 5 | by Staff reporter
Brace for bread price hike
GRAIN millers in Zimbabwe have warned that there might be a bread price hike due to a decline in global wheat supply after major producer countries were hit by drought.The Grain Millers Associ...Published: 04 Oct 2021 at 19:32hrs | 7 | by Staff reporter
Mthuli Ncube in US
ZIMBABWE will seek to raise $200m in a debut domestic US dollar bond sale on its stock exchange in Victoria Falls that trades exclusively in foreign currency, says finance minister Mthuli Ncube....Published: 16 Sep 2021 at 19:50hrs | 11 | by Staff reporter
The lessons from Zambia
I have just celebrated my 77th birthday and have settled on two proud new titles. I have now added a new title to my repertoire. I was given the title of mukoma at the Manica Post. Governor Josiah Hun...Published: 05 Sep 2021 at 07:03hrs | 8 | by Kenneth Mufuka
Zimbabwe to use IMF funds to support beleaguered Zimdollar
THE government will hold back $500m of the $961m IMF funds to support the currency which has plunged.Zimbabwe will use more than half of the $961 million allocated by the International Monetar...Published: 25 Aug 2021 at 18:37hrs | | by Staff reporter
The day Nelson Chamisa 'won' Zambian elections
Yesterday the world woke up to the news of the confirmation of Zambia's 12, August 2021 elections results. Opposition United Party for National Development (UPND) leader, Hakainde Hichilema had beaten...Published: 17 Aug 2021 at 07:15hrs | 1 | by Nobleman Runyanga
Kuda Tagwirei shifted assets to Zimbabwe after US sanctions
ZIMBABWE'S government is pressing ahead with a plan to combine its mining assets under a massive private-public enterprise, even as evidence mounts that the project could be linked to a tycoon sanctio...Published: 15 Aug 2021 at 21:05hrs | 1 | by Bloomberg
Mozambique signs agreement for SADC troop deployment
Mozambique has, after initial hesitance, signed an agreement allowing the immediate deployment of troops from the 16-member Southern African Development Community (SADC) to help fight an Islamic State...Published: 15 Jul 2021 at 12:04hrs | 18 | by Staff reporter
Deadly unrest rages in South Africa
The death toll in South Africa has risen to 72 as violence continues across the country following the jailing of former President Jacob Zuma.Crowds looting and setting alight shopping centres ...Published: 14 Jul 2021 at 10:29hrs | | by Staff reporter
South Africa fuel shortages in the next few days
South African Petroleum Refineries (Sapref) has declared force majeure and announced a temporary closure due to the ongoing violence and looting in South Africa, ...Published: 14 Jul 2021 at 09:59hrs | 1 | by Staff reporter
VFEX in dramatic rebound
THE Victoria Falls Stock Exchange (VFEX) has dramatically emerged to capture some of Zimbabwe's biggest firms, with multinationals making bold moves to step into the waterfall in the past week....Published: 11 Jul 2021 at 10:42hrs | | by Staff reporter
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