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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 | 118 | 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 | 215 | 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 | 2195 | 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 | 154 | 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
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 | 451 | 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
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 | 684 | 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 | 1195 | 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 | 555 | 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 | 873 | 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 | 321 | 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$80 billion to date. Gold coins were introduced ...Published: 02 Nov 2023 at 05:52hrs | 176 | by Staff reporter
IMF tells Zimbabwe to end RBZ's quasi-fiscal activities
The International Monetary Fund (IMF) has implored Zimbabwe to end the central bank's quasi-fiscal activities among a raft of reforms to "fully restore macroeconomic stability".The Reserve Ban...Published: 26 Oct 2023 at 06:36hrs | 492 | by Staff reporter
Zimbabwe gold-backed tokens enter market
Zimbabwe Gold (ZiG), the digital tokens backed by gold, has gained approval as a legitimate means of payment for domestic transactions, effective immediately. Transactions involving ZiG will be proces...Published: 06 Oct 2023 at 06:32hrs | 457 | by Staff reporter
Zimbabwe's gold tokens to be used as legal tender
The Reserve Bank of Zimbabwe (RBZ) has announced its intention to introduce a new transactional currency called Zimbabwe Gold (ZiG), which will be backed by the valuable mineral resource. These Gold-B...Published: 01 Oct 2023 at 07:35hrs | 4082 | by Staff reporter
RBZ increases US$ 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 | 735 | 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 | 3122 | 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 | 535 | 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 | 801 | 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 | 25 | 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 | 18 | 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 | 19 | 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 | 17 | 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 | 5 | 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 | 2 | 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 | 19 | by Staff reporter
RBZ finalises platform for digital token payments
THE Reserve Bank of Zimbabwe (RBZ) is finalising the establishment of a platform that facilitates person-to-person transactions using digital gold tokens, a development expected to largely reduce dema...Published: 18 Jun 2023 at 08:30hrs | 11 | by Staff reporter
Man loses US$457 000 to bitcoin dealer
A Harare man who specialises in cryptocurrency (bitcoin) business has appeared in court for allegedly duping an eye specialist of US$457 000 in a bitcoin deal by stealing the money from his accounts....Published: 07 Jun 2023 at 16:28hrs | 3 | by Staff reporter
Zimbabwe's gold-backed digital tokens mop up $34bn excess liquidity
THE Reserve Bank of Zimbabwe (RBZ) has mopped up $34 billion through gold-backed digital tokens, which are part of measures to reduce liquidity in the market and expand the value-preserving instrument...Published: 06 Jun 2023 at 06:21hrs | 4 | by Staff reporter
Bitcoin's role in the rise of Decentralized Finance (DeFi)
Decentralized Finance (DeFi) has taken the world by storm in recent years, with more and more investors turning to blockchain-based financial systems to take advantage of the numerous benefits they pr...Published: 24 May 2023 at 09:38hrs | 43 | by Staff Reporter
The Rise of Binance Coin: Why you should consider converting BTC to BNB
So you've heard of Binance Coin (BNB) and you're wondering why you should convert Bitcoin (BTC) to BNB. In this article, we will look at the advantages of such an exchange....Published: 23 May 2023 at 14:28hrs | 52 | by Staff Reporter
Zimbabwe central bank confident of price stability
ABOUT $40 billion, some of which could have found its way onto the black market, has been mopped up from the market in less than 10 months through gold coins and gold-backed digital tokens, in a devel...Published: 14 May 2023 at 11:32hrs | 2 | by Staff reportetr
Zimbabwe backs new digital money with 140kg of gold
Zimbabwe has turned to digital money to help ease soaring demand for US dollars in its economy as the value of the local currency plunged.Zimbabwe used nearly 140 kilograms of gold reserves to...Published: 13 May 2023 at 18:54hrs | 2 | by Staff reporter
$14 billion gold digital tokens bought so far in Zimbabwe
The Reserve Bank of Zimbabwe (RBZ) has said a total 139 570 982 milligrammes (139,57kg) of gold-backed digital tokens valued at $14 077 billion were bought during the initial sale, which opened on Mon...Published: 13 May 2023 at 18:25hrs | 16 | by Staff reporter
Zimdollar stares fresh setbacks as crisis deepens
ZIMBABWE'S currency will continue depreciating in the coming months, as multiple headwinds exert pressure on the unit, which surrendered 34% of its value to the United States dollar in April, accordin...Published: 12 May 2023 at 06:06hrs | 1 | by Staff reporter
Zimbabwe govt lifts import restrictions on basics
GOVERNMENT has lifted all restrictions on the importation of basic commodities to boost market supplies and granted 100 percent retention of domestic foreign currency earnings, with a further fine-tun...Published: 12 May 2023 at 06:00hrs | 3 | by Staff reporter
'Gold tokens will unlikely save Zimdollar'
THE recently-announced gold-backed digital tokens will neither strengthen the local currency nor reduce chronic inflation because of waning market confidence and trust in government, an economic watch...Published: 08 May 2023 at 06:12hrs | 2 | by Staff reporter
Zimbabwe gold digital tokens to hit market on Monday
THE Reserve Bank of Zimbabwe (RBZ)'s will release its gold-backed digital tokens into the market on Monday to serve as both an instrument for store of value and transacting.The bank has since ...Published: 05 May 2023 at 20:22hrs | 4 | by Staff reportr
Bread price jumps 109% in Zimbabwe
THE average price of a standard loaf of bread shot to $1 800 which is equivalent to US$1,70 at the official exchange rate of $1 059,60 to the greenback.This represents a 109% hike on the $860 ...Published: 03 May 2023 at 06:07hrs | 3 | by Staff reporter
Zimbabwe's digital tokens out next month
THE Reserve Bank of Zimbabwe (RBZ) yesterday said it would start issuing gold-backed digital tokens on May 8 as one of its several measures to save the free-falling local currency.In July last...Published: 29 Apr 2023 at 07:52hrs | 5 | by Staff reporter
Zimbabwe electricity supply improves
With the Zambezi River Authority having just allocated Zesa extra Lake Kariba water to generate an average of 500MW at Kariba South, and Hwange 7 generating its designed net output of 300MW, the gener...Published: 26 Apr 2023 at 06:26hrs | | by Staff reporter
Hwange Unit 7 clocks full load of 300MW
THE power utility, Zesa Holdings, has announced a reduction in load shedding in response to the rising domestic power generation capacity, which has seen the country surpassing 1 000MW total output fr...Published: 26 Apr 2023 at 06:20hrs | 1 | by Staff reporter
'Black market rates to fall,' dreams RBZ
THE Reserve Bank of Zimbabwe (RBZ) is set to introduce a gold-backed digital currency to be used as legal tender for transacting in the country as part of interventions to stabilise the local currency...Published: 23 Apr 2023 at 07:48hrs | 4 | by Staff reporter
Zimbabwe central bank introduces gold-backed digital currency
THE Reserve Bank of Zimbabwe (RBZ) is set to introduce a gold-backed digital currency to be used as legal tender for transacting in the country as part of interventions to stabilise the local currency...Published: 23 Apr 2023 at 07:47hrs | 5 | by Staff reporter
Are Zimbabwe roads safe?
It is, indeed, the silly season, so silly that even the simplest of promises are used to secure votes.In this episode, some politicians have promised to "drive" their way to victory.Fo...Published: 01 Apr 2023 at 07:34hrs | 10 | by Jairos Saunyama
Man kills friend over snooker tokens
Police are hunting for a murder suspect Learnmore Dzuda (32) who allegedly murdered his friend in a snooker dispute in Shamva on Saturday.It is alleged Dzuda stabbed Gilbert Chibanda (23) in t...Published: 13 Mar 2023 at 14:13hrs | 2 | by Tarisai Mudahondo and Simbarashe Sithole
Plumtree gives residents water meter ultimatum
PLUMTREE Town Council has given pre-paid water users in the border town three weeks to revert to post-paid meters after some residents went for three years without paying for water.A number of...Published: 10 Mar 2023 at 05:18hrs | 1 | by Staff reporter
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