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Shops dump ZiG official rate for two-tier pricing system
Just like other Zimbabwean currencies introduced since the year 2000, the Zimbabwe Gold (ZiG) currency is already showing signs of instability barely half a year after its introduction, with many shop...Published: 22 hrs ago | 6036 | by Staff reporter
Zimbabwe govt intervenes to end dual pricing
The government is closely monitoring businesses that are manipulating the exchange rate by using black market rates instead of the official ZiG currency rate. This practice undermines the ZiG, which i...Published: 05 Sep 2024 at 17:07hrs | 5944 | by Staff reporter
Hwange goalie dies after colliding with opponent
Lusumbami FC goalkeeper Johnson Shumba tragically passed away on Wednesday morning at Mpilo Hospital. He was believed to be in his 20s.The team, which competes in the Matabeleland North Provin...Published: 04 Sep 2024 at 10:09hrs | 1086 | by Staff reporter
Bulawayo residents resort to swamps for water
Bulawayo is facing a severe water crisis, with many suburbs going weeks without running tap water. Residents are forced to use unhygienic water sources in swampy areas and practice open defecation due...Published: 04 Sep 2024 at 07:52hrs | 139 | by Staff reporter
Zimbabwe Central Bank issues revised forex market guidelines
The Reserve Bank of Zimbabwe (RBZ), through its Exchange Control department, has issued updated guidelines and compliance parameters for the interbank foreign exchange market, emphasizing the limitati...Published: 04 Sep 2024 at 07:46hrs | 125 | by Staff reporter
Zimbabwe central bank injects US$190 million to meet forex demand
Zimbabwe's central bank has injected US$190 million into the foreign-exchange market to meet demand for dollars and maintain economic stability since the introduction of a new bullion-backed currency,...Published: 03 Sep 2024 at 14:37hrs | 437 | by Staff reporter
Zimbabwe central bank says it's intervening in foreign exchange market
Zimbabwe's central bank said it's "strategically intervening" in the foreign-exchange market to meet demand for dollars among lenders amid a slump in the nation's bullion-backed currency.The i...Published: 31 Aug 2024 at 11:14hrs | 624 | by Staff reporter
'ZiG acceptance rate reaches 91%'
Zimbabwe's local currency, ZiG, has seen a significant boost in public confidence, with acceptance rates soaring to 91% from 61% since its launch in April 2024, according to Reserve Bank of Zimbabwe G...Published: 31 Aug 2024 at 11:12hrs | 1784 | by Staff reporter
Harare is a man-made disaster
Residents' associations are warning of a potential humanitarian crisis following the decommissioning of the Prince Edward Water Treatment Plant in Chitungwiza due to critically low water levels. ...Published: 31 Aug 2024 at 11:08hrs | 296 | by Staff reporter
After ditching the dollar, Zimbabwe now rushing for it at a steeper cost
NEARLY five months after changing its currency to arrest inflation, Zimbabwe is back in familiar territory as the new local unit has started losing ground.The problem seems to be based on how ...Published: 26 Aug 2024 at 08:11hrs | 3911 | by Staff reporter
Zimbabweans use gold-backed ZiG to pay for 40% of transactions
Zimbabweans are using the nation's gold-backed currency for 40% of payments compared with 20% when it first started in April, Finance Permanent Secretary George Guvamatanga said.The ZiG - an a...Published: 22 Aug 2024 at 07:26hrs | 519 | by Staff reporter
Boost for ZiG as gold deliveries soar
Zimbabwe saw a significant increase in gold deliveries in July, driven mainly by contributions from artisanal and small-scale miners. Deliveries surged by 33% to 3,495 kg from 2,618 kg in June...Published: 11 Aug 2024 at 18:33hrs | 340 | by Staff reporter
Prophet Magaya launches a blistering attack against Lincoln Mutasa
Walter Magaya's Heart Group, owners of Heart Stadium in Harare, has launched a blistering attack against ZIFA normalisation committee chairperson Lincoln Mutasa who claimed in a statement on Monday th...Published: 06 Aug 2024 at 18:24hrs | 1563 | by Staff reporter
Zimbabwe Central Bank says usage of ZiG has doubled
The use of Zimbabwe's bullion-backed currency has doubled since it was launched in early April, central bank Governor John Mushayavanhu told the country's Sunday Mail newspaper.The ZiG is now ...Published: 31 Jul 2024 at 07:07hrs | 915 | by Staff reporter
ZiG tames inflation in Zimbabwe
Reserve Bank of Zimbabwe Governor Dr. John Mushayavanhu informed a Parliamentary committee that the new ZiG currency, introduced in April's Monetary Policy Statement, has stabilized the exchange rate ...Published: 23 Jul 2024 at 07:14hrs | 966 | by Staff reporter
Zimbabwe misses mineral revenue target
Zimbabwe faces a challenging economic outlook for 2024, with economists warning of reduced foreign exchange reserves, diminished government revenue, and decreased economic activity due to lower global...Published: 19 Jul 2024 at 06:20hrs | 538 | by Staff reporter
Zimbabwe's currency will remain fully backed by gold reserves
Zimbabwe's government will stick to what it promised when it launched a new currency in April by ensuring it remains fully backed by reserves, the central bank governor told Reuters on Wednesday, addi...Published: 18 Jul 2024 at 09:20hrs | 748 | by Staff reporter
US keen to mend relations with Zimbabwe despite Mnangagwa sanctions
The United States has expressed its readiness to enhance relations with Zimbabwe, aiming to become a reliable and consistent partner. This announcement came as new ambassadors from the US, Ireland, Ja...Published: 18 Jul 2024 at 06:25hrs | 193 | by Staff reporter
Botswana signs coal export deal with Zimbabwe and Mozambique
Botswana, home to Africa's third-largest coal reserves, is exploring a potential new export pathway. The country has entered into an agreement with Zimbabwe and Mozambique to advance a substantial rai...Published: 15 Jul 2024 at 11:11hrs | 351 | by Staff reporter
Mnangagwa promises free food for all in need
The government has committed to supporting food-insecure Zimbabweans affected by the El Niño-induced drought, intensifying its food aid program nationwide to ensure no one dies of hunger, President E...Published: 14 Jul 2024 at 09:49hrs | 87 | by Staff reporter
Zimbabwe should ditch the toxic US dollar
Zimbabwe's economy has been intertwined with the US dollar for over a decade, a relationship that began as a pragmatic response to hyperinflation and economic collapse in the late 2000s. The adoption ...Published: 12 Jul 2024 at 09:46hrs | 55 | by Staff writer
Zimbabwe must end 'dollar grip' to regain economic sovereignty
Zimbabwe must take the necessary steps to end its reliance on the dollar and increase the use of its own currency, Information Secretary Nick Mangwana said."The benefits of de-dollarisation fa...Published: 12 Jul 2024 at 07:24hrs | 12 | by Staff reporter
Why Zimbabwe should break free from the US dollar's grip
Government Up Close"Normalcy is that a country must have its own currency," President Mnangagwa is on record highlighting this fact.Some people have argued that one of the gravest fina...Published: 11 Jul 2024 at 14:10hrs | 60 | by Nick Mangwana
Shortage of ZiG coins, notes affects Bulawayo vendors
Informal traders in Bulawayo are grappling with significant challenges due to the scarcity of Zimbabwe Gold (ZiG) notes and coins, which has severely impacted their ability to conduct business effecti...Published: 11 Jul 2024 at 07:26hrs | 10 | by Staff reporter
Zimbabwe's ZiG primed for seamless international acceptance and usage
THE country's new currency, Zimbabwe Gold (ZIG) widespread acceptance locally will trigger a seamless acceptance regionally, Monetary Policy Committee member Mr Persistence Gwanyanya has said....Published: 10 Jul 2024 at 15:50hrs | 24 | by Staff reporter
Mozambique, Zimbabwe and Botswana mull tripartite rail project
Mozambique is negotiating the upgrade of the regional railway system from Beira through Zimbabwe to Botswana, including a proposed new line into central Botswana, according to President Filipe Nyusi. ...Published: 10 Jul 2024 at 07:42hrs | 26 | by Staff reporter
Zimbabwe company ventures into lithium battery production
Verify Engineering, a Zimbabwean company, has started lithium battery production, aligning with Zimbabwe's focus on mineral value addition and beneficiation. With Africa's largest lithium reserves, Zi...Published: 08 Jul 2024 at 10:50hrs | 7 | by Staff reporter
Reserves backing Zimbabwe's ZiG shoot to US$370 million
Prices of goods and services in Zimbabwe are expected to remain stable, thanks to increased cash and mineral reserves backing the new currency, Zimbabwe Gold (ZiG). These reserves have risen from US$2...Published: 07 Jul 2024 at 10:34hrs | 69 | by Staff reporter
Zimbabwe economy could hamper Mnangagwa's Brics ambition
President Emmerson Mnangagwa has announced Zimbabwe's readiness to join the BRICS grouping, claiming the country now has a stable currency and solid economic fundamentals. BRICS, comprising Brazil, Ru...Published: 02 Jul 2024 at 12:49hrs | 7 | by Staff reporter
Zambia's President rallies investors to pick KAZA opportunities
Zambia's President Hakainde Hichilema has called on investors to explore opportunities in the Kavango Zambezi Transfrontier Conservation Area (KAZA TFCA) beyond the traditional mining sector. ...Published: 01 Jul 2024 at 11:23hrs | 3 | by Staff reporter
Mushayavanhu discards ZiG banknotes with Mangudya's signature
The Reserve Bank of Zimbabwe (RBZ), under new governor John Mushayavanhu, destroyed millions' worth of Zimbabwe Gold (ZiG) banknotes that had been printed with the signature of his predecessor, John M...Published: 01 Jul 2024 at 10:29hrs | 9 | by Staff reporter
Mnangagwa's office warns media against malicious reporting
The Office of the President and Cabinet (OPC) has condemned attempts by some media organizations to create discord between Zimbabwe and Zambia, according to President Mnangagwa's spokesman, Mr. George...Published: 30 Jun 2024 at 18:15hrs | | by Staff reporter
ZiG performance pleases RBZ, private sector leaders
Private sector leaders and the Reserve Bank of Zimbabwe (RBZ) have praised the performance of Zimbabwe's structured currency, the Zimbabwe Gold (ZiG), citing its stability and positive impact on price...Published: 28 Jun 2024 at 07:39hrs | 2 | by Staff reporter
Zimbabwe central bank sees slower economic growth of 2%
The Reserve Bank of Zimbabwe (RBZ) projects the economy to grow by 2% in 2024, which is slower than the government's earlier forecast of 3.5%. Despite the lower inflation outlook and market calls for ...Published: 27 Jun 2024 at 14:22hrs | | by Staff reporter
Does Mnangagwa intend stabilizing the economy by creating a phantom currency?
Does Mnangagwa intend stabilizing the economy by creating a phantom currency?Ever since the Zimbabwe government announced a new currency on 5th April 2024, they have never ceased bragging over...Published: 26 Jun 2024 at 20:56hrs | 1 | by Tendai Ruben Mbofana
Zimbabwe to seek global recognition for ZiG
The Reserve Bank of Zimbabwe (RBZ) is committed to ensuring the long-term sustainability of the Zimbabwe Gold (ZiG) as a viable currency and aims to establish the local currency as a globally rec...Published: 24 Jun 2024 at 06:22hrs | 1 | by Staff reporter
Grain producer prices increased in Zimbabwe
The Zimbabwean government has significantly raised producer prices for strategic grains and shifted to paying farmers exclusively in US dollars upon delivery to the Grain Marketing Board (GMB) to enha...Published: 23 Jun 2024 at 09:24hrs | 2 | by Staff reporter
Manhize steel plant to create 150 000 jobs within 10 years
The Dinson Iron and Steel Company (Disco) in Manhize aims to create 25,000 direct jobs and 150,000 opportunities in related industries within the next five to ten years. Currently employing nearly 2,0...Published: 23 Jun 2024 at 08:49hrs | 4 | by Staff reporter
Mthuli Ncube authorises 50-50 currency split for tax payment
The Zimbabwean Treasury has authorized companies to pay their Second Quarter Corporate Income Tax obligations in both local currency (ZiG) and foreign currency on a 50:50 basis. This decision is part ...Published: 20 Jun 2024 at 07:22hrs | 4 | by Staff reporter
Fidelity Gold Refinery gold supply zero-rating policy shows promise
The zero-rating of gold deliveries to Fidelity Gold Refinery (FGR) has started bearing fruits as the local currency, the Zimbabwe Gold (ZiG) continues to strengthen while gold miners have been allevia...Published: 18 Jun 2024 at 17:17hrs | 12 | by Tonderai Ndoro
'ZiG a game changer for economy'
President Mnangagwa has hailed the Zimbabwe Gold currency (ZiG), backed by gold, as a robust strategy for achieving currency stability and fostering economic growth. Speaking at the 10th CEO Africa Ro...Published: 17 Jun 2024 at 08:56hrs | | by Staff reporter
Bulawayo to host Zanu-PF conference
ZANU-PF's Bulawayo province has been urged to leverage the current party restructuring efforts for rejuvenation and to display unity in preparation for the Annual National People's Conference in Octob...Published: 17 Jun 2024 at 08:53hrs | 7 | by Staff reporter
Zimbabwean currency poised to strengthen further
The Zimbabwean currency, Zimbabwe Gold (ZiG), is expected to strengthen against major currencies in the official market due to increased demand as companies prepare to meet their quarterly corporate i...Published: 16 Jun 2024 at 09:04hrs | 18 | by Staff reporter
Mnangagwa urges Zimbabweans to trust the ZiG currency
President Emmerson Mnangagwa has urged industry leaders to trust in the Zimbabwe Gold (ZiG) currency, introduced to replace the unstable Zimbabwean dollar. Speaking at the 10th CEO Africa Roun...Published: 14 Jun 2024 at 07:21hrs | | by Staff reporter
Zimbabwe govt scraps VAT on gold deliveries
Finance, Economic Development and Investment Promotion Minister, Professor Mthuli Ncube, has abolished the 15 percent Value Added Tax (VAT) on gold deliveries to Fidelity Gold Refiners, as stipulated ...Published: 14 Jun 2024 at 07:05hrs | 111 | by Staff reporter
ZB Retrenchment, 98 workers bite the dust
ZB Financial Holdings (ZBFH) says 59 staff members, mostly those who were nearing retirement took up its Voluntary Disengagement Scheme (VDS) and further 39 were affected under the Compulsory Disengag...Published: 13 Jun 2024 at 22:18hrs | 1 | by Erick Matotoba
Zimbabwe is hardly undiscovered ground for the world's miners
Zimbabwe has huge amounts of unexplored and underexploited mineral resource potential and the world's resource companies could be lining up to rebuild Zimbabwe's once-mighty gold mines and metal refin...Published: 11 Jun 2024 at 09:59hrs | 3 | by Staff reporter
Lupane Gas Project to start in third quarter of 2024
The Lupane Gas Project in Matabeleland North is set to start during the third quarter of this year, the consultant of the project has said.CEWALE Discovery Investment Environmental Consultant ...Published: 10 Jun 2024 at 14:29hrs | 7 | by Staff reporter
Brian Molefe might take Corruption Watch to the cleaners
Former Eskom and Transnet CEO Brian Molefe might take Corruption Watch (RF) NPC to the cleaners.The non-profit organisation last week filed a notice of withdrawal against Molefe to be declared...Published: 10 Jun 2024 at 14:00hrs | 8 | by Staff reporter
Anyone refusing to accept ZiG payments will be arrested
Zanu-PF national political commissar Munyaradzi Machacha announced that anyone, including ruling party members, refusing to accept ZiG payments or using inflated exchange rates will be arrested and pr...Published: 10 Jun 2024 at 08:38hrs | 4 | by Staff reporter
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