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Zimbabwe finance ministry bans foreign trips
The Zimbabwean government is tightening its belt in response to a severe cash crunch as it approaches the end of 2024. Finance Secretary George Guvamatanga has announced measures aimed at curbing spen...Published: 18 Nov 2024 at 15:24hrs | 5497 | by Staff reporter
Devaluation fails to halt ZiG free-fall
Zimbabwe's new local currency, the Zimbabwe Gold (ZiG), has taken another hit, losing an additional 11% of its value in under a month following a substantial 43% "devaluation" announced by monetary au...Published: 29 Oct 2024 at 13:49hrs | 4502 | by Staff reporter
Backdated pay rise for civil servants
The Government has delivered on its commitment to review upwards the salaries of civil servants, with employees starting to receive their backdated pay yesterday. This move is part of the Government's...Published: 16 Oct 2024 at 11:47hrs | 528 | by Staff reporter
Zimbabwe bankers warn of price increases
Bankers in Zimbabwe are raising alarms about potential price increases and shortages of basic commodities following the recent devaluation of the Zimbabwe Gold (ZiG) by over 40% by the Reserve Bank of...Published: 03 Oct 2024 at 08:56hrs | 299 | by Staff reporter
Zimbabwe's currency conundrum: Meagre gold reserves can't sustain the ZiG
Today, during his State of the Nation Address (SONA), President Emmerson Dambudzo Mnangagwa announced that the government would set aside 50% mineral royalties to shore up the local currency. ...Published: 02 Oct 2024 at 20:53hrs | 2931 | by Tendai Ruben Mbofana
Steve Hanke celebrates the demise of Zimbabwe's ZiG
US-based economist and currency expert Steve Hanke has issued a stark warning about Zimbabwe's economic situation, claiming that the country's inflation rate has reached a staggering 880% per year, de...Published: 27 Sep 2024 at 08:28hrs | 21494 | by Staff reporter
Zimbabwe central bank bites back
This year, authorities in Zimbabwe have recorded over 1,100 cases of debit card abuse linked to backstage black market dealers, highlighting the ongoing challenges of a protracted currency crisis. The...Published: 20 Sep 2024 at 09:35hrs | 6163 | by Staff reporter
Zanu-PF panics over ZiG collapse
ZANU-PF spokesperson Christopher Mutsvangwa has expressed alarm over the devaluation of the Zimbabwe Gold currency (ZWG) and is urging President Emmerson Mnangagwa to take decisive action. Mutsvangwa ...Published: 13 Sep 2024 at 08:12hrs | 3502 | by Staff reporter
Prices soar as new Zimbabwean currency struggles
The launch of Zimbabwe's new currency, the Zimbabwe Gold (ZWG), has been marked by significant challenges, including a sharp rise in basic commodity prices. Since its introduction on April 5 at an exc...Published: 11 Sep 2024 at 09:03hrs | 1041 | by Staff reporter
IMF says Zimbabwe's economy continues to show resilience
In light of new policy developments, an International Monetary Fund (IMF) staff team led by Mr. Wojciech Maliszewski conducted a second mission to Harare during June 18-27, 2024, to conclude the 2024 ...Published: 28 Jun 2024 at 13:01hrs | 4 | by Staff reporter
Telcos revenue rises 98% first quarter
In its 2024 abridged postal and telecommunications sector performance report, POTRAZ said in the period under review, MNOs earned Z$2,27 trillion (approximately ZiG$910,46 million) from Z$1,15 trillio...Published: 22 Jun 2024 at 11:18hrs | 2 | by Staff reporter
Zimbabwe rated Africa's most expensive economy
Zimbabwe was recently identified as Africa's most expensive country according to a comprehensive study by the African Development Bank (AfDB). The study assessed power purchasing parities (PPPs) and e...Published: 15 Jun 2024 at 11:13hrs | 64 | by Staff reporter
Report businesses that reject the ZiG, says RBZ
The Reserve Bank of Zimbabwe's Financial Intelligence Unit (FIU) has launched a hotline and WhatsApp number for the public to report businesses that reject the local currency or charge above the offic...Published: 05 Jun 2024 at 07:10hrs | 17 | by Staff reporter
Zimbabwe's ZiG gamble backfires?
In late May, monitoring the ZiG currency against other currencies revealed a divergence between the government-regulated exchange rate and the market-determined parallel rate. Introduced on Ap...Published: 04 Jun 2024 at 13:50hrs | 11 | by Staff reporter
ZiG slows price increases in Zimbabwe
The Famine Early Warning Systems Network (FewsNet) reports that despite the introduction of the Zimbabwe Gold (ZiG) currency, which has brought some stability, prices in United States dollars (USD) re...Published: 03 Jun 2024 at 08:29hrs | 1 | by Staff reporter
Zimbabweans complain over ZiG cash shortage
Business operators and residents in Gweru are expressing concerns about the scarcity of the new currency, Zimbabwe Gold (ZiG), and are urging the Reserve Bank of Zimbabwe (RBZ) to increase the availab...Published: 24 May 2024 at 08:35hrs | 1 | by Staff reporter
'ZiG difficult to accept in US$-dominated market'
RESPECTED businessman and economist Nigel Chanakira says acceptance of the new currency, Zimbabwe Gold (ZiG), will be difficult given that the majority still prefer the greenback.The Reserve B...Published: 11 Apr 2024 at 08:45hrs | | by Staff reporter
'ZiG difficult to accept in US$-dominated market'
Businessman and economist Nigel Chanakira says acceptance of the new currency, Zimbabwe Gold (ZiG), will be difficult given that the majority still prefer the greenback.The Reserve Bank of Zim...Published: 10 Apr 2024 at 06:02hrs | 1 | by Staff reporter
Zimbabwe worst governed country in Sadc
ZIMBABWE has been ranked as one of the worst governed countries in southern Africa by World Economics, a respected economic research institute based in the United Kingdom.The country is also i...Published: 08 Apr 2024 at 10:45hrs | 1 | by Staff reporter
New currency without public confidence won't solve crisis
The government of Zimbabwe through the Reserve Bank of Zimbabwe (RBZ) has launched a new currency, which it calls the Zimbabwe Gold (ZiG).We have been here before and it is key to understand i...Published: 07 Apr 2024 at 10:29hrs | | by Mlondolozi Ndlovu
Zimbabwe currency crisis: Time to face the truth
THERE is, of course, no such thing as "a shortage of foreign currency".In open and disciplined markets, all that such a claim reflects is an over-valued local currency, whose managers resist t...Published: 07 Apr 2024 at 10:26hrs | 1 | by Obert Nyandoro
Council accused of neglecting workers
THE Harare City Council has been accused of neglecting the welfare of its workers with those retiring going home empty-handed after years of service.This was revealed at a Water and Allied Wor...Published: 07 Apr 2024 at 10:12hrs | 1 | by Staff reporter
Zimbabwe launches ‘gold' currency to replace dollar
Zimbabwe has introduced a new national currency aimed at stabilizing the economy and countering the devaluation of the local dollar in the southern African nation. Harare has also appealed to the Unit...Published: 05 Apr 2024 at 21:44hrs | 32 | by Staff reporter
Mnangagwa inspects Zimbabwe's gold reserves
President Emmerson Mnangagwa conducted an inspection of the Reserve Bank of Zimbabwe (RBZ) vaults on Thursday, where officials informed him that Zimbabwe possesses 1.1 tonnes of gold.This visi...Published: 04 Apr 2024 at 21:16hrs | | by Staff reporter
Why Mnangagwa cut short Mangudya's Zimbabwe Reserve Bank stay
PRESIDENT Emmerson Mnangagwa was yesterday forced to retire Reserve Bank of Zimbabwe (RBZ) governor John Mangudya a month earlier to give his successor room to come up with fresh measures to stabilise...Published: 29 Mar 2024 at 04:52hrs | 13 | by Staff reporter
Basics disappear from Zimbabwe shop shelves
ZIMBABWEAN retailers are struggling to restock locally produced goods using the local unit as manufacturers and wholesalers are turning them away in favour of those that pay in the United States dolla...Published: 15 Mar 2024 at 07:19hrs | 10 | by Staff reporter
Zimbabwe must deal with currency volatility causes, not symptoms
THE United Nations Economic Commission for Africa (Uneca) executive secretary Claver Gatete this week said Zimbabwe should deal with the root causes of currency volatility not symptoms.Gatete ...Published: 07 Mar 2024 at 05:10hrs | 1 | by Staff reporter
Mnangagwa keeping Zim dollar to oppress Zimbabweans!
Why is the Zimbabwe government so adamant in holding on to a useless currency?On what logic would anyone believe that it is a good idea to continue using money that loses its value nearly on a...Published: 06 Mar 2024 at 23:33hrs | | by Tendai Ruben Mbofana
RBZ boss designate hits ground running
JOHN Mushayavanhu, the incoming governor of the Reserve Bank of Zimbabwe (RBZ), has already started contributing to the 2024 monetary policy statement (MPS), getting things going right away, Sta...Published: 18 Feb 2024 at 09:19hrs | 9 | by Staff reporter
IMF trashes Zimbabwe inflation statistics
Government last year directed the Zimbabwe National Statistics Agency (Zimstat) to stop publishing local currency indexed inflation and switch to the blended rate, which it said was ideal as the count...Published: 16 Feb 2024 at 15:22hrs | | by Staff reporter
Chamisa slams Zimbabwe govt's currency board plan
Opposition leader Nelson Chamisa has strongly criticized the government's proposed introduction of a currency board as an attempt to revive the struggling Zimbabwe dollar, stating that it will ultimat...Published: 16 Feb 2024 at 07:42hrs | | by Staff reporter
IMF wants Zimbabwe central bank to dump monetary policies
THE International Monetary Fund (IMF) has advised government to cut the Reserve Bank of Zimbabwe's (RBZ) role in crafting monetary policies to just its core functions, after the local currency depreci...Published: 15 Feb 2024 at 10:07hrs | 2 | by Staff reporter
IMF advises Zimbabwe to adopt forex market reforms
As the instability of the beleaguered Zimbabwe dollar intensifies, the International Monetary Fund (IMF) has advised the government to adopt forex market reforms which are "more transparent and market...Published: 15 Feb 2024 at 10:01hrs | 1 | by Staff reporter
Zimbabwe electoral dispute backfiring
CATHOLIC Bishops yesterday said the unresolved August 2023 election dispute has plunged the lives of ordinary citizens into disarray, amid a deepening economic meltdown where the majority is strugglin...Published: 13 Feb 2024 at 04:47hrs | 2 | by Staff reporter
Traders reject Zimdollar
THE Zimbabwe dollar has continued to depreciate in 2024, with traders in some areas now refusing to accept the local currency, while parallel market exchange rates have been differing across the count...Published: 12 Feb 2024 at 13:49hrs | 2 | by Staff reporter
Zimbabwe family basket doubles to ZWL$6,2m
The family basket has nearly doubled to ZWL$6,2 million from ZWL$3,6 million in December due to the continued depreciation of the Zimdollar, the Consumer Council of Zimbabwe (CCZ) has said, spelling d...Published: 07 Feb 2024 at 04:46hrs | | by Staff reporter
Zimbabweans sink deeper into poverty
Zimbabweans are having to digging deeper into their pockets to buy basic commodities as the cost of living continues to rise with the food poverty line reaching ZWL$155 360,39 for a single perso...Published: 30 Jan 2024 at 07:47hrs | 1 | by Staff reporter
Zimdollar further tumbles against US dollar
The cost of goods and services keeps on increasing in Zimbabwe as the local currency depreciates against the U.S. dollar, a trend that accelerated at the beginning of 2024.The local dollar, which ...Published: 18 Jan 2024 at 17:52hrs | | by Staff reporter
Gwanda to refurbish water treatment plant
GWANDA Municipality is working towards refurbishing its water treatment plant to boost water supply in line with its population growth.The council has said the refurbishment of the water treat...Published: 10 Jan 2024 at 05:40hrs | 8 | by Staff reporter
Zimdollar exchange rate bolts
MARKET watchers have predicted a gloomy 2024 outlook amid a galloping exchange rate, steep taxation and an ever tanking economy, NewsDay reported.As usual, this is heavily impacting on ordinar...Published: 08 Jan 2024 at 05:36hrs | 10 | by Staff reporter
Zimdollar decline fueled by surge in money supply
THE Zimbabwe dollar has taken a battering in the past month with economists attributing the depreciation of the local currency to increased money supply after private and public sector employees were ...Published: 24 Dec 2023 at 16:10hrs | 7 | by Staff reporter
Zimdollar worse off since 2022
THE local currency, the Zimbabwean dollar, has continued to depreciate against the United States dollar on an unrestrained trajectory, despite various measures implemented by the Reserve Bank of Zimba...Published: 03 Dec 2023 at 19:20hrs | 8 | by Tinashe Duma
Zimbabwe's promises of mega deals are yet to materialise
GOOD day, President Emmerson Mnangagwa.Your Excellency, there could be no vainly venture than perversion. It cannot withstand scrutiny. It melts on the onset of cross-examination.As I ...Published: 29 Nov 2023 at 14:52hrs | 9 | by Cyprian Muketiwa Ndawana
Zimbabwe's economic crisis threatens budding blueberry sector
Zimbabwe's blueberry production, one of the country's fastest-growing crops, is under threat from a currency crisis and high borrowing costs, an industry body said.Global consumption of the bl...Published: 27 Nov 2023 at 18:25hrs | 2 | by Staff reporter
Zimdollar maintains stable range on RBZ Auction, parallel market
The Zimbabwean dollar has maintained a stable range on both the Reserve Bank of Zimbabwe (RBZ) Foreign Exchange Auction and the parallel market platforms in recent weeks, according to a trading update...Published: 23 Nov 2023 at 05:45hrs | | by Staff reporter
Zimbabwe gazettes use of US dollar to 2030
President Emmerson Mnangagwa has extended the authorization for the use of the US dollar as the official currency until 2030, effectively pushing the initial deadline by an additional five years. ...Published: 27 Oct 2023 at 18:40hrs | | by Staff reporter
Potraz doubles voice, data tariffs
The Postal and Telecommunications Regulatory Authority of Zimbabwe (Potraz) has implemented a significant increase in data and voice tariffs to aid the capital-intensive telecommunications sector, whi...Published: 27 Oct 2023 at 06:37hrs | | by Staff reporter
Prices skyrocket in Zimbabwe
The ongoing depreciation of the local currency is plunging Zimbabweans further into economic hardship, causing prices of essential goods and services to soar beyond the means of most low-income famili...Published: 27 Oct 2023 at 06:18hrs | | by Staff reporter
Zimbabwe central bank must consider introducing a ZW$500 000 note
This week, a prominent price monitoring thinktank emphasized the need for the Reserve Bank of Zimbabwe (RBZ) to contemplate the introduction of a ZW$500,000 note as the Zimbabwean currency continues t...Published: 22 Oct 2023 at 14:06hrs | 1 | by Staff reporter
Zimbabwe suspends duty on fertiliser imports
The government has taken the measure of suspending customs duties on imported fertilizers for a period of 12 months to address the anticipated scarcity of this essential agricultural input.Thi...Published: 11 Oct 2023 at 06:20hrs | 1 | by Staff reporter
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