Search / Hyperinflation
Zimdollar rate decline signals move to Gold Standard
Zimbabwe, the poster child of hyperinflation, is allowing a free fall in its currency that it's no longer keen to defend and is instead working on a new exchange rate potentially backed by gold....Published: 21 Mar 2024 at 08:47hrs | 1892 | by Staff reporter
Zimbabwe war veterans explode
WOES are continuing to mount for veterans of Zimbabwe's armed liberation struggle, who say their welfare is continually being neglected, with tertiary learning institutions refusing to enrol their chi...Published: 12 Mar 2024 at 20:38hrs | 1437 | by Staff reporter
US issues fresh sanctions on Mnangagwa and 8 others, terminates 2003 curbs
The United States on Monday terminated a Zimbabwe sanctions programme and reimposed curbs on nine people and three entities, including President Emmerson Mnangagwa, over their involvement in corruptio...Published: 04 Mar 2024 at 18:33hrs | 488 | by Staff reporter
Zimbabwe inflation hits 6-month high
Zimbabwe's inflation rate jumped to its highest level in six months as the local dollar continued its losing streak against the greenback, in one of its worst starts to the year since the currency's r...Published: 29 Feb 2024 at 20:38hrs | 1107 | by Staff reporter
Zimbabwean ministers says social media is a security threat
GOVERNMENT has said the misinformation and disinformation being peddled on social media platforms have become a security threat amid plans to introduce laws to curb the practice.Information mi...Published: 29 Feb 2024 at 05:03hrs | 558 | by Staff reporter
Disco's US$1,5 billion steel plant complete
CONSTRUCTION of the US$1,5 billion steel plant in Manhize near Mvuma is complete, with the project tentatively set for commissioning on June 10 this year.The plant, which is touted to be Afric...Published: 25 Feb 2024 at 07:06hrs | 198 | by Staff reporter
Mugabe divides opinion from the grave
ON what would have been Robert Mugabe's 100th birthday, Zimbabwe and the world grapple with the complex legacy of a man who led Zimbabwe to independence, but later presided over its economic ruin....Published: 22 Feb 2024 at 04:58hrs | 1574 | 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 | 1653 | by Staff reporter
Deloitte exits Zimbabwe as management leads buyout
Deloitte, one of the world's big four accountancy firms, is leaving its Zimbabwe business and senior partners will buy out the unit.The Zimbabwe practice will exit the Deloitte network by Octo...Published: 15 Feb 2024 at 10:15hrs | 1183 | 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 | 164 | by Staff reporter
Zimbabwe to use gold to back its currency
Zimbabwe is working on new measures to stabilise its local currency including linking the exchange rate to hard assets such as gold and creating a currency board, Finance Minister Mthuli Ncube said on...Published: 12 Feb 2024 at 11:31hrs | 2209 | by Staff reporter
Another plan to rescue Zimdollar
ZIMBABWE is considering overhauling its exchangerate regime as the government seeks new measures to save its beleaguered currency.The latest proposals will be in a monetary policy statement th...Published: 11 Feb 2024 at 21:07hrs | 1049 | by Staff reporter
Opposition Politics in Zimbabwe, 1999 - 2024: An Obituary
Advocate Nelson Chamisa's capitulation last week at the behest of the fifth column led by Sengezo Tshabangu was the final nail in opposition politics in Zimbabwe. Armed with state institutions and exp...Published: 03 Feb 2024 at 09:09hrs | 1359 | by Innocent Mpoki
Zimdollar crashes to lowest since its 2019 revamp
A fresh plunge in the value of the Zimbabwean dollar means that everyone in the country with US$100 is now a millionaire in local-currency terms. Again.The local unit on Tuesday weakened past ...Published: 31 Jan 2024 at 04:56hrs | 3950 | by Staff reporter
Zimbabwe's inflation surges following Zimdollar rout
Inflation in Zimbabwe surged as a currency rout pushed up the prices of goods and services, adding to pressure on the central bank to act.Consumer prices rose an annual rate of 34.8% in Januar...Published: 29 Jan 2024 at 16:30hrs | 1330 | by Staff reporter
Britain shifts its policy towards Zimbabwe
The recent engagement of the British government with the Zimbabwean government, after more than two decades of imposing sanctions, reflects a pragmatic shift in diplomatic strategy. While the decision...Published: 26 Jan 2024 at 10:15hrs | 1607 | by Mukachana Hanya
Teacher exodus threatens the future of Zimbabwe's education system
KUDZAI Chideme, 42, stepped into the teaching profession after completing her diploma in marketing and failing to secure a job in the private sector. It was 2008. At the time, finding work in public e...Published: 25 Jan 2024 at 04:17hrs | 514 | by Staff reporter
Mangudya says Zimdollar turmoil temporary
As Zimbabwe's parallel market reels under the strain of a currency crisis, central bank governor, John Mangudya, assures the public that this turmoil is merely passing.This grey market, operat...Published: 18 Jan 2024 at 17:55hrs | 1237 | 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 | 1021 | by Staff reporter
Mbudzi interchange fund looted
Several directors at the Ministry of Transport have been quizzed by anti-graft investigators after whistle blowers leaked explosive details linking them to the pillage of a fund meant to compensate ow...Published: 14 Jan 2024 at 20:50hrs | 3558 | by Staff reporter
Zimbabwe gold output declines 15%
Zimbabwe produced 30 metric tons of gold in 2023, 15% less than the previous year, official data showed on Monday, as electricity cuts and currency volatility impacted output.The southern Afri...Published: 10 Jan 2024 at 17:47hrs | 220 | by Staff reporter
Zimdollar bloodbath set to continue into coming year
THE depreciation of the Zimbabwe dollar in 2023 is likely to spill into 2024, with experts forecasting an increase in the cost of doing business, production and increased pressure on the exchange rate...Published: 30 Dec 2023 at 16:33hrs | 4720 | by Staff reporter
How greed stole Christmas for poor Zimbabweans
Christmas is supposed to be the season for good cheer, but for most Zimbabweans this year will be another difficult festive season as they struggle to put food on the table.It has been yet ano...Published: 27 Dec 2023 at 19:43hrs | 360 | by Staff reporter
Pitfalls of Liberation Movements in Zimbabwe
This paper seeks to provide an introductory general overview of the pitfalls associated with liberation movements in Zimbabwe up to a certain historical point. However, the most accurate and u...Published: 24 Dec 2023 at 08:30hrs | 318 | by Josh Mhambi
'Zimbabwe economic data questionable'
A team of technical experts from the International Monetary Fund (IMF) this week called into question the authenticity of economic data compiled by the Zimbabwe National Statistics Agency (Zimstat), r...Published: 22 Dec 2023 at 18:14hrs | 133 | by Staff reporter
'Entire budget is anti-people in the extreme' We know that, tell us why you hell-bent on perpetuating Zanu PF rule!
Zimbabwe's main opposition parties are corrupt, incompetent and utterly useless. Zimbabwe is a failed state, 43 years and counting of Zanu PF corrupt and tyrannical rule has left the country i...Published: 05 Dec 2023 at 20:38hrs | 443 | by Wilbert Mukori
Zimbabwe govt 'sabotaged' de-dollarisation plan, says Biti
Former Finance minister Tendai Biti has said government's forceful nature of its policies to adopt the volatile Zimdollar sabotaged plans to de-dollarise the economy .The local currency has be...Published: 04 Dec 2023 at 04:48hrs | 997 | by Staff reporter
Zimbabwe MPs urged to reject Mthuli Ncube's budget
ECONOMISTS have urged Finance minister Mthuli Ncube to redo the 2024 budget as the one he presented this week only serves to condemn the rest of the population to abject poverty.Ncube presente...Published: 02 Dec 2023 at 05:43hrs | 375 | by Staff reporter
Churches overrun Bulawayo CBD
STAKEHOLDERS in Bulawayo are concerned that a growing number of churches are taking over premises in the central business district (CBD) and industrial sites.Fears abound that this is seriousl...Published: 18 Nov 2023 at 09:33hrs | 598 | by Staff reporter
Zimbabwe pensioners to be compensated for 2007-9 losses
PENSIONERS who lost their life savings during the 2007 to 2009 hyper-inflation era will receive compensation from February 2024, a senior Insurance and Pensions Commission (Ipec) official has said....Published: 17 Nov 2023 at 05:05hrs | 692 | by Staff reporter
Delta Loss control manager demands USD from clients
Delta Beverages, a prominent brewery, has purportedly initiated a demand for payments in foreign currency for its product range within Mashonaland Central province. This action unfolds against a backd...Published: 04 Nov 2023 at 12:18hrs | 6019 | by Simbarashe Sithole
IMF tells Zimbabwe to end RBZ's quasi-fiscal activities
The International Monetary Fund (IMF) has implored Zimbabwe to end the central bank's quasi-fiscal activities among a raft of reforms to "fully restore macroeconomic stability".The Reserve Ban...Published: 26 Oct 2023 at 06:36hrs | 492 | by Staff reporter
Oppression is justifiable when it's by our own race.
We fought for our independence from the British colonialists, who exploited our land, our resources, and our people for their own benefit. We dreamed of a free and prosperous Zimbabwe, where we could ...Published: 25 Oct 2023 at 20:34hrs | 128 | by Kumbirai Thierry Nhamo
Plans to develop Zimbabwe's biggest mine near Bulawayo
Caledonia Mining is exploring options to raise US$250m to develop its Bilboes project into what could be Zimbabwe's biggest gold mine.The company, which also owns the Blanket gold mine in Zimb...Published: 22 Oct 2023 at 10:41hrs | 605 | by Staff reporter
Zimbabwe gold-backed digital token to cause accounting, auditing headache
The introduction of the Zimbabwe gold-backed digital token (ZiG) is posing a significant challenge for accounting and auditing professionals due to the uncertainty surrounding whether it should be cla...Published: 16 Oct 2023 at 06:11hrs | 168 | by Staff reporter
NSSA is a vehicle for enriching the powerful whilst exploiting the poor!
I already knew that Zimbabwe was hell and a living nightmare for the vast majority of the ordinary citizenry.I was also fully aware that the powerful were the only ones getting richer and rich...Published: 15 Oct 2023 at 09:49hrs | 471 | by Tendai Ruben Mbofana
Zimbabwe wants new IMF staff-monitored program by April
Zimbabwe hopes to agree a new staff-monitored program with the International Monetary Fund (IMF) by April next year, with an IMF team due to visit later this month for initial talks, its finance minis...Published: 14 Oct 2023 at 08:56hrs | 573 | by Staff reporter
'Zimbabwe to revert to local currency'
President Mnangagwa has declared that Zimbabwe is poised to shift back to employing its local currency as the exclusive legal tender, abolishing the multi-currency system. He underlined the significan...Published: 13 Oct 2023 at 06:24hrs | 1179 | by Staff reporter
Will the new ‘ZiG' ‘gold backed' digital currency alleviate Zimbabwe's currency stability woes?
THE chronic problem of Zimbabwe's economy has its roots in the land reform activities that began more than 30 years ago.The principle of ‘ethnic balance' in land ownership was fair. The prob...Published: 08 Oct 2023 at 08:02hrs | 460 | by John Mc Keown
Zimbabweans rejects Mbuya Nehanda note as inflation soars
Vendors and some retailers in Harare are now refusing to accept the ZW$50 banknote introduced in 2021 by Reserve Bank of Zimbabwe (RBZ) Governor John Mangudya. This refusal is unsurprising as the note...Published: 05 Oct 2023 at 19:50hrs | 998 | by Staff reporter
Mnangagwa must introduce a diaspora ministry
GOOD day, President Emmerson Mnangagwa. Your Excellency, it is my sworn submission that your recent resurrection of the War Veterans ministry is suggestive of aberrations. As I see it, the decision is...Published: 27 Sep 2023 at 06:18hrs | 394 | by Cyprian Muketiwa Ndawana
Chivayo calls Biti a 'foolish guy'
Controversial businessman Wicknell Chivayo has lashed out at former Finance Minister Tendai Biti saying he is a "foolish guy" and accused him of sending Zimbabwe into hyperinflation during the governm...Published: 19 Sep 2023 at 20:45hrs | 866 | by Staff reporter
Wicknell Chivayo gifts Zanu-PF affiliated MC US$65,000 Toyota Hilux
Controversial businessman Wicknell Chivayo has donated a Toyota Hilux double cab 4×4 vehicle worth US$65 000 to financially troubled Zanu-PF affiliated MC David Masomere, who recently found himself i...Published: 19 Sep 2023 at 20:45hrs | 1318 | by Staff reporter
Biti warns of economic 'disaster' in Zimbabwe
Former finance minister and prominent CCC opposition figure Tendai Biti has issued a stern warning about the potential economic consequences if President Emmerson Mnangagwa's government decides to emb...Published: 17 Sep 2023 at 22:14hrs | 586 | by Staff reporter
Skepticism about Mnangagwa's new Cabinet
Trust Chikohora, the leader of the opposition Zimbabwe Coalition for Peace and Development (ZCPD), has expressed skepticism about the new Cabinet that was sworn in earlier this week. He believes the C...Published: 15 Sep 2023 at 06:25hrs | 359 | by Staff reporter
Why properties in Zimbabwe are overpriced
YOU probably have heard that properties in Zimbabwe are expensive, especially compared to regional peers like South Africa and Kenya.To substantiate this claim, a quick online survey on proper...Published: 09 Sep 2023 at 08:50hrs | 873 | by Rufaro Hozheri
Mugabe stirs debate from the grave
YESTERDAY marked four years since former President Robert Mugabe passed on, leaving behind an indelible mark on the nation's political landscape.Mugabe passed away on September 6, 2019 in Sing...Published: 07 Sep 2023 at 06:15hrs | 1648 | by Staff reporter
South Africa, Zimbabwe in behind the scenes talks
The South African government and the governing ANC under President Cyril Ramaphosa are engaged in new secret talks with Zimbabwean President Emmerson Mnangagwa's freshly-minted administration to resol...Published: 06 Sep 2023 at 18:56hrs | 1070 | by Staff reporter
Ramaphosa slammed for attending Mnangagwa's inauguration
SOUTH African opposition parties continue to blast Cyril Ramphosa after he attended President Emmerson Mnangagwa's inauguration saying he is endorsing a stolen government.Ramaphosa was one of ...Published: 06 Sep 2023 at 06:25hrs | 881 | by Staff reporter
5 more years is way too much
My heart is heavy with sadness and a deep sense of contemplation as I reflect upon the recent presidential election. Emmerson Mnangagwa, claimed victory in a highly disputed election. The news of anot...Published: 30 Aug 2023 at 23:42hrs | 334 | by Kumbirai Thierry Nhamo
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