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BRICs payment system being tested
A new digital payments system, BRICS Pay, debuted for live testing at this week's BRICS Business Forum at the International Trade Center in Moscow.During the trial - on 17 and 18 October - for...Published: 19 Oct 2024 at 15:54hrs | 1749 | by Staff reporter
Zanu-PF MP accused of extorting funds from land-seeking citizens
BUHERA North legislator Philip Guyo (Zanu PF) is facing accusations of looting and extorting funds from desperate land-seekers in Chitungwiza to finance his 2023 electoral campaign, according to membe...Published: 08 Oct 2024 at 15:08hrs | 430 | by Gideon Madzikatidze/Simbarashe Sithole
BAZ, central bank meet over policy interventions
The Bankers Association of Zimbabwe (BAZ) held a crucial meeting with the Reserve Bank of Zimbabwe (RBZ) governor, Dr. John Mushayavanhu, on Monday to address key policy changes from the Monetary Poli...Published: 03 Oct 2024 at 08:44hrs | 54 | by Staff reporter
16 pregnant pupils fail to write Grade 7 exams
At least 16 pupils from Monozi Primary School in Mbire District were unable to sit for their Grade Seven Zimbabwe School Examinations Council (Zimsec) examinations last week after falling pregnant. Th...Published: 01 Oct 2024 at 08:56hrs | 560 | by Staff reporter
Overview of Popular Crypto Trading Platforms
Crypto Trading Platforms Over the past ten years, cryptocurrency trading has become somewhat popular since many platforms have developed to serve trader...Published: 25 Sep 2024 at 17:05hrs | 223 | by Staff Reporter
RBZ makes U-turn
The Reserve Bank of Zimbabwe (RBZ) has announced that holders of non-negotiable certificates of deposit (NNCDs) will now receive tradable government bonds. This decision comes in response to pressure ...Published: 03 Sep 2024 at 15:45hrs | 27514 | by Staff reporter
Zimbabwe's traditional healers take to TikTok
WEARING a stylish black leather jacket and a red blouse, a denim sun hat covering her dreadlocked head, Gogo Mafirakureva goes live on TikTok.In just the first few minutes of her livestream, a...Published: 07 Jul 2024 at 18:01hrs | 14 | by Staff reporter
Zimbabwe prepaid electricity unavailable on 3 July
PREPAID electricity consumers will not be able to purchase power tokens on Wednesday 3 July from 12 am to 1 am.In a statement on X, the Zimbabwe Electricity Transmission and Distribution Compa...Published: 04 Jul 2024 at 09:26hrs | | by Staff reporter
Zimbabwe's banks not ready for cryptocurrency
At the inaugural Capital Markets Conference in Nyanga, it was disclosed that Zimbabwean banks are not yet prepared to fully integrate cryptocurrency trading, despite ongoing efforts by regulators to d...Published: 23 Jun 2024 at 10:40hrs | 31 | by Staff reporter
Bulawayo to spend US$10 000 per month to keep tower lights on
The Bulawayo City Council (BCC) is facing a monthly expense of approximately US$10,000 to purchase electricity tokens for tower lights in the city, following their transition to a prepaid system by th...Published: 23 Jun 2024 at 10:33hrs | 5 | by Staff reporter
EcoCash launches new mobile App
EcoCash, Zimbabwe's leading mobile money platform, has unveiled a brand-new mobile app in Harare today, June 13, 2024, featuring enhanced security and a more user-friendly interface packed with additi...Published: 15 Jun 2024 at 11:04hrs | 17 | by Staff reporter
+250 vehicles seized in civil servants' tax rebate scam
A joint operation by the Zimbabwe Anti-Corruption Commission (ZACC) and the Zimbabwe Revenue Authority (Zimra) has resulted in the recovery of 250 vehicles illegally imported through the abuse of tax ...Published: 23 May 2024 at 10:45hrs | 26 | by Staff reporter
Zimbabwe govt must support ZiG currency through raft of solid measures
THE Reserve Bank of Zimbabwe (RBZ) has been urged to implement a raft of measures, including fiscal discipline, public consultation and policy consistency, if the newly introduced Zimbabwe Gold (ZiG) ...Published: 19 May 2024 at 11:55hrs | 4 | by Staff reporter
Annual independent external audit for RBZ reserves
Independent external auditors shall audit Reserve Bank of Zimbabwe (RBZ) precious minerals and foreign currency reserves backing the country's new currency, Zimbabwe Gold (ZiG), once a year as part of...Published: 11 Apr 2024 at 08:32hrs | 14 | by Staff reporter
Govt blitz as traders dump Zimdollar
THE Consumer Protection Commission together with the police and the Financial Intelligence Unit has launched a blitz on businesses refusing to accept the Zimdollar following the launch of a new curren...Published: 09 Apr 2024 at 06:22hrs | | by Staff reporter
Foreign currency dealers ditch trading spots
MOST illegal money changers popularly known as "Osiphatheleni" have abandoned their traditional trading spots in Bulawayo following the launch by the Government of the new gold-backed currency, the Zi...Published: 09 Apr 2024 at 06:20hrs | 3 | by Staff reporter
Half ZiG and coins to start circulating on April 30
The Reserve Bank of Zimbabwe (RBZ) in the 2024 Monetary Policy Statement introduced a new "structured currency" termed ZiG (Zimbabwe Gold) on April 5. A "structured currency" is a currency tha...Published: 07 Apr 2024 at 21:08hrs | 2 | 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
Zimbabwe set to announce fate of Zimdollar
Zimbabwe's currency plunged to yet another record low as citizens rushed to the safety of the US dollar amid speculation an announcement from the central bank on the fate of the local unit is imminent...Published: 04 Apr 2024 at 06:03hrs | | by Staff reporter
Govt critic slams introduction of Zimbabwe's new 'structured currency'
Prominent economist Gift Mugano has dismissed the government's proposed introduction of a "structured currency" as merely a repetition of past unsuccessful endeavors. This move is seen as the latest e...Published: 03 Apr 2024 at 08:53hrs | 1 | by Staff reporter
Zimbabwe's structured currency launch on Friday
IN a bid to address currency volatility and exchange rate-driven inflation badly battering the economy amid arbitrage, the Zimbabwean government will next week launch a "structured currency" which the...Published: 31 Mar 2024 at 20:50hrs | | by Staff reporter
How NFTs have transformed the art world
The art world has historically been regarded as an exclusive domain, preserved for a select few who have the contacts, money, and expertise required to enter it. Owning a prestigious piece of art has,...Published: 22 Mar 2024 at 09:09hrs | 24 | by Staff Reporter
Zesa smart meter tender challenge dismissed
A LOCAL company, Denallare Technologies Pvt Ltd, unsuccessfully filed for an application for condonation at the Supreme Court, challenging the Zimbabwe Electricity Transmission and Distribution Compan...Published: 19 Mar 2024 at 17:35hrs | | by Staff reporter
Phatisani, Chikuse received cars from Chivayo
Zimpapers, a state-owned entity, has implemented a ban on employees receiving extravagant gifts following a controversial incident involving businessman Wicknell Chivayo gifting radio presenters Phath...Published: 13 Mar 2024 at 19:29hrs | 1 | by Staff reporter
Gold set to anchor Zimbabwe dollar
GOLD has emerged as the most ideal instrument likely to be used to anchor the structured currency the Government is pursuing to stabilise the exchange rate and curtail persistent inflation.The...Published: 10 Mar 2024 at 06:23hrs | 9 | 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 | 1 | by Staff reporter
Electricity tokens prepayment system won't be available on 31 December
PREPAID electricity consumers will not be able to buy cash power on New Year's Eve, the Zimbabwe Electricity and Distribution Company (ZETDC) has said.In a statement the power utility said the...Published: 30 Dec 2023 at 16:51hrs | 4 | 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 | 8 | by Staff reporter
World Bank hails Zimbabwe's tight Monetary Policy stance
THE World Bank (WB) has commended the Reserve Bank of Zimbabwe (RBZ) for putting in place a tight Monetary Policy alongside other interventions which have managed to ease inflationary pressures....Published: 14 Dec 2023 at 03:57hrs | | by Staff reporter
Zanu-PF's Dingumuzi Phuti fights court reversal of election victory
Dingumuzi Phuti, the former Zanu-PF MP for Bulilima, filed an urgent court application weekend seeking rescission of judgement after his August 23 election win was nullified by the High Court on Thurs...Published: 27 Nov 2023 at 07:32hrs | 1 | by Staff reporter
Zanu-PF officials implicated in voter fraud allegations
Zanu-PF officials infiltrated the Zimbabwe Electoral Commission (ZEC) posed as polling officers and assisted voters in voting for the ruling party in the Bulilima constituency during the August electi...Published: 24 Nov 2023 at 16:55hrs | 6 | by Staff reporter
High Court orders Bulilima National Assembly election re-run
The Bulilima National Assembly election must be rerun due to electoral irregularities, the Bulawayo High Court directed in a default order granted on Thursday.The close race was won by Dingimu...Published: 23 Nov 2023 at 22:02hrs | 1 | by Staff reporter
ZETDC launches nationwide prepaid meter upgrade
ZIMBABWE Electricity Transmission and Distribution Company (ZETDC) has embarked on a nationwide project to upgrade prepaid meters.The meter upgrade is set to commence on 15 November.In...Published: 15 Nov 2023 at 05:10hrs | 4 | by Staff reporter
'ZWL$80bn gold coins, ZiG tokens sold'
Reserve Bank of Zimbabwe (RBZ) Governor John Mangudya has reported the sale of gold coins and gold-backed digital tokens (ZiG tokens) valued at over ZWL$80 billion to date. Gold coins were introduced ...Published: 02 Nov 2023 at 05:52hrs | 5 | by Staff reporter
IMF tells Zimbabwe to end RBZ's quasi-fiscal activities
The International Monetary Fund (IMF) has implored Zimbabwe to end the central bank's quasi-fiscal activities among a raft of reforms to "fully restore macroeconomic stability".The Reserve Ban...Published: 26 Oct 2023 at 06:36hrs | 20 | by Staff reporter
Zimbabwe gold-backed tokens enter market
Zimbabwe Gold (ZiG), the digital tokens backed by gold, has gained approval as a legitimate means of payment for domestic transactions, effective immediately. Transactions involving ZiG will be proces...Published: 06 Oct 2023 at 06:32hrs | 1 | by Staff reporter
Zimbabwe's gold tokens to be used as legal tender
The Reserve Bank of Zimbabwe (RBZ) has announced its intention to introduce a new transactional currency called Zimbabwe Gold (ZiG), which will be backed by the valuable mineral resource. These Gold-B...Published: 01 Oct 2023 at 07:35hrs | 33 | by Staff reporter
RBZ increases US$ reserves thresholds to 15% to encourage Zimdollar usage
The Reserve Bank of Zimbabwe's Monetary Policy Committee (MPC) has increased the US$ Statutory reserve requirement to 15%, a move that experts suggest aims to encourage the use of the ZWL (Zimbabwean ...Published: 29 Sep 2023 at 06:34hrs | 1 | by Staff reporter
Mnangagwa to replace Mangudya as RBZ boss?
A GLOBAL recent ranking of central bank governors has given Zimbabwe's John Mangudya the lowest grade amid speculation that he may be replaced as President Emmerson Mnangagwa reshapes his administrati...Published: 28 Sep 2023 at 16:03hrs | | by Staff reporter
CBZ commends Mthuli Ncube's bold inflation policy
CBZ Holdings Limited (CBZHL), the country's largest banking institution in terms of deposits and assets, has commended monetary authorities for taking bold inflation-targeted measures. The company has...Published: 24 Sep 2023 at 11:47hrs | 2 | by Staff reporter
Zanu-PF gifts praise singers with cars
THE ruling Zanu-PF has gifted its loyalists and praise singers who used their social media pages and music as campaign platforms prior to the disputed August 23 elections.Reports say Holy Ten,...Published: 03 Sep 2023 at 07:31hrs | 1 | by Staff reporter
Nampak cashes in on Zimdollar scarcity
PACKAGING materials supplier Nampak Zimbabwe says it has benefited from improved United States dollar collections during the third quarter ended June 2023 on the back of constrained local currency liq...Published: 16 Aug 2023 at 06:48hrs | 8 | by Staff reporter
Zimbabwe set to introduce Gold Backed Digital Tokens for daily transactions
THE Reserve Bank of Zimbabwe (RBZ) says plans have now reached an advanced stage to introduce the Gold Backed Digital Tokens (GBDT) as a medium of exchange to be by the public in daily transactions....Published: 11 Aug 2023 at 06:38hrs | 7 | by Staff reporter
Gold tokens to become medium of exchange in Zimbabwe
THE Reserve Bank of Zimbabwe (RBZ) is finalising the modalities of rolling out the gold-backed digital tokens as a medium of exchange for domestic transactions to complement the US dollars, Governor D...Published: 10 Aug 2023 at 06:43hrs | 8 | by Staff reporter
Shops cash in on Zimdollar change shortage
ZIMBABWE is currently battling a local currency liquidity crisis which has resulted in large retail shops failing to give change to consumers who buy goods in United States dollars (US$), NewsDay has ...Published: 01 Aug 2023 at 06:31hrs | 6 | by Staff reporter
Consider paying Zimbabwe civil servants in gold coins'
Government has been urged to explore the feasibility of paying a portion of civil servants' salaries in gold-backed digital tokens and gold coins.The tokens have proven to be effective in mopp...Published: 12 Jul 2023 at 08:15hrs | | by Staff reporter
RBZ begins digital dollar dry-run
The Reserve Bank of Zimbabwe (RBZ) has begun a dry-run to test the feasibility of a digital currency backed by gold that will be accepted as a legal tender for peer to peer and peer to business transa...Published: 06 Jul 2023 at 17:23hrs | | by Staff reporter
Zimdollar shortage hits market
A serious shortage of Zimbabwe dollar has hit the market on fiscal and monetary policy measures amid fears the crunch will affect aggregate demand.The liquidity squeeze follows recent me...Published: 30 Jun 2023 at 16:08hrs | | by Staff reporter
BCC considers blacklisting debtors
THE Bulawayo City Council is reportedly considering blacklisting some of its bad debtors as it continues to explore avenues of boosting revenue collection.The move comes as the city's debtors ...Published: 25 Jun 2023 at 09:36hrs | 1 | by Staff reporter
'Zimdollar will never die'
ZIMNAT Asset Management says the Zimbabwe dollar, which has lost 99% of its value since it was reintroduced in 2019, will not collapse, but rather get relegated to low value transactions.At th...Published: 21 Jun 2023 at 06:24hrs | 1 | by Staff reporter
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