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Zimbabwe's biggest threat to business formalisation is currency

Zimbabwe's biggest industry body has urged government to abandon its aggressive campaign against the informal economy, warning that heavy-handed tax raids on backyard businesses amount to a futile war on survivalist hustles.The informal ec…

Published: 3 hrs ago | 74 | by Staff reporter

Zimbabwe's time for dollar debate is over

Zimbabweans should focus more on their gold-backed currency that's set to become the sole legal tender by 2030 and less on how to phase out dollar use, according to the central bank's deputy governor."We should talk about mono-currency, th…

Published: 18 Sep 2025 at 09:02hrs | 334 | by Staff reporter

Zimbabwe sets 2030 deadline for mono-currency regime

The Reserve Bank of Zimbabwe (RBZ) has announced that the country is on course to adopt a mono-currency system by 2030, with the Zimbabwe Gold (ZiG) set to become the sole legal tender for all domestic transactions.At present, Zimbabwe ope…

Published: 04 Sep 2025 at 07:28hrs | 223 | by Staff reporter

Zimbabwe's digital transactions surge to ZiG89bn

Zimbabwe has seen a sharp rise in digital payments, with the value of retail transactions jumping 35 percent in the second quarter of 2025, according to the Reserve Bank of Zimbabwe (RBZ). The total value rose from ZiG66 billion in the fir…

Published: 02 Sep 2025 at 07:05hrs | 9 | by Staff reporter

Zimbabwe central bank launches ZiG Confidence survey

THE Reserve Bank of Zimbabwe (RBZ) has embarked on a fresh nationwide survey to assess confidence in the Zimbabwe Gold (ZiG) currency, more than a year after it was introduced as the country's sole legal tender.ZiG was launched on April 5,…

Published: 02 Sep 2025 at 05:53hrs | 135 | by Staff reporter

Govt to absorb 22,000 Community Health Workers into civil service

Zimbabwe will integrate 22,000 Community Health Workers (CHWs) into the civil service by the end of the year as part of efforts to strengthen primary health care amid dwindling donor support, Health and Child Care Minister Dr. Douglas Momb…

Published: 28 Aug 2025 at 06:54hrs | 658 | by Staff reporter

Inflation slowdown boosts confidence in ZiG stability

Zimbabwe recorded a marked slowdown in price growth in August, strengthening government claims that currency reforms are beginning to stabilise the economy, despite year-on-year inflation remaining high.Data released by the Zimbabwe Nation…

Published: 28 Aug 2025 at 06:54hrs | 271 | by Staff reporter

RBZ begins production of redesigned ZiG banknotes

The Reserve Bank of Zimbabwe (RBZ) has commenced production of redesigned ZiG banknotes, set to enter circulation soon as part of the central bank's de-dollarisation roadmap, which targets a transition to a mono-currency regime within the …

Published: 26 Aug 2025 at 07:55hrs | 10 | by Staff reporter

Zimbabwe is losing over US$6bn to illicit financial flows

Zimbabwe is losing an estimated US$6,15 billion to illicit financial flows (IFFs) between 2020 and 2025, a drain that experts say is depriving the country of critical resources needed for development.IFFs involve the illegal movement of mo…

Published: 25 Aug 2025 at 06:01hrs | 270 | by Staff reporter

RBZ to engage mobile operators on currency parity

The Reserve Bank of Zimbabwe (RBZ) has announced plans to work with mobile network operators to ensure parity in trading between the local gold-backed Zimbabwe Gold (ZiG) currency and the US dollar under the multicurrency system. The move …

Published: 25 Aug 2025 at 06:00hrs | 432 | by Staff reporter

ZWG acceptance still a challenge says Hippo Valley

Hippo Valley Estates Limited (HVEL), one of Zimbabwe's sugar producers, has raised concern over the continued rejection of the Zimbabwe Gold (ZWG) currency in the market despite relative exchange rate stability.The sugar producer noted tha…

Published: 19 Aug 2025 at 09:05hrs | 280 | by Staff reporter

ZiG gains traction in domestic transactions

The Zimbabwe Gold (ZiG) currency is gaining momentum in the domestic financial system, now accounting for 40 percent of electronic payment transactions, six months after a strategic push by the Reserve Bank of Zimbabwe (RBZ).According to R…

Published: 19 Aug 2025 at 08:53hrs | 135 | by Staff reporter

2030: Zimbabwe will be using domestic currency

THE Reserve Bank of Zimbabwe (RBZ) has announced plans for a structured transition from the current multicurrency system to a domestic monetary framework, aimed at ensuring business continuity and economic certainty by 2030.Zimbabwe curren…

Published: 13 Aug 2025 at 12:35hrs | 488 | by Staff reporter

Zera reviews ZiG fuel prices downwards

The Zimbabwe Energy Regulatory Authority (ZERA) has announced a downward revision of fuel prices in local currency, effective from August 8 until September 4, 2025. The move follows the authority's routine monthly review of fuel costs base…

Published: 10 Aug 2025 at 19:20hrs | 363 | by Staff reporter

RBZ cracks down on ZiG rejection

The Reserve Bank of Zimbabwe (RBZ) has issued a strong warning to businesses and service providers who are refusing to accept the Zimbabwe Gold (ZiG) currency, with central bank governor Dr John Mushayavanhu decrying widespread disregard o…

Published: 09 Aug 2025 at 13:28hrs | 512 | by Staff reporter

'ZiG outperforms regional peers'

The Reserve Bank of Zimbabwe (RBZ) has lauded the Zimbabwe Gold (ZiG) currency for its sustained stability and strong performance compared to several regional currencies within the Southern African Development Community (SADC) and beyond.I…

Published: 08 Aug 2025 at 13:02hrs | 34 | by Staff reporter

RBZ upholds tight monetary policy to protect ZWG

The Reserve Bank of Zimbabwe (RBZ) on Thursday reaffirmed its tight monetary policy stance as a key strategy to conserve the local currency, despite mounting pressure from industry players to ease borrowing costs.Delivering the Mid-Term Mo…

Published: 08 Aug 2025 at 08:59hrs | 15 | by Staff reporter

Gold Backed Currency vs Dollarisation: Lessons from Zimbabwe's New ZiG

Since April 2024, Zimbabweâ€‰has started aâ€‰new monetary policyâ€‰by introducing a gold-backedâ€‰currency known as the Zimbabweâ€‰Gold (ZiG), toâ€‰get rid ofâ€‰its reliance on theâ€‰U.S. dollar. In theâ€‰first few months,â€‰the central ba…

Published: 03 Aug 2025 at 23:27hrs | 24 | by Staff Reporter

Illegal logging costs Zimbabwe millions

Deep in the misty Eastern Highlands, along the Zimbabweâ€“Mozambique border, the whine of chainsaws has replaced the natural chorus of birdsong. Towering indigenous and exotic trees, some centuries old, are falling to unchecked, illegal lo…

Published: 01 Aug 2025 at 08:29hrs | 75 | by Staff reporter

Zimbabwe's rebasing pushes GDP to US$45,7bn

The government's recent rebasing of Zimbabwe's economy has lifted its gross domestic product (GDP) valuation to US$45,7â€¯billion and gross national income (GNI) per capita above US$3â€¯000 - even as exchange rate distortions cloud the tru…

Published: 01 Aug 2025 at 08:27hrs | 281 | by Staff reporter

Zanu-PF warns affiliates

ZANU-PF Manicaland provincial chairperson Tawanda Mukodza has issued a stern warning to party members to be vigilant against shadowy affiliate groups allegedly infiltrating the ruling party to foment divisions and disrupt unity.Several inf…

Published: 01 Aug 2025 at 08:06hrs | 286 | by Staff reporter

Zimbabwe govt mulls fresh taxes

Finance Minister Mthuli Ncube yesterday unveiled plans to impose new taxes, despite growing resistance from businesses and taxpayers who argue that Zimbabwe's current tax burden is already suffocating the formal economy.The announcement co…

Published: 01 Aug 2025 at 08:02hrs | 386 | by Staff reporter

Zimbabwe's July inflation shows mixed trends

The latest inflation figures released by the Zimbabwe National Statistics Agency (ZIMSTAT) for July 2025 show a modest rise in prices for goods and services measured in both the United States Dollar (USD) and Zimbabwe Gold (ZiG), with nota…

Published: 28 Jul 2025 at 18:58hrs | 195 | by Staff reporter

Zimbabwe's plan to make ZiG sole currency faces sharp criticism

Reserve Bank of Zimbabwe (RBZ) governor John Mushayavanhu has recently suggested making the local currency, the Zimbabwe Gold coin (ZiG), the sole legal tender in the country. Despite Mushayavanhu's claims of ZiG's growing stability, econo…

Published: 18 Jul 2025 at 08:52hrs | 1201 | by Staff reporter

Zimbabwe gold makes currency history

Welcome Mavingire, managing consultant at INTELLEGO Investment Consultants, has hailed the Zimbabwe Gold (ZiG) currency's recent stability as the longest sustained period for a domestic currency in the country's recent history. Speaking at…

Published: 14 Jul 2025 at 08:10hrs | 735 | by Staff reporter

Zimbabwe currency reserves backing ZiG climb to record

Gold and foreign-currency reserves backing Zimbabwe's bullion-linked monetary unit rose to a record in June, the central bank said.The reserves climbed to $731 million from $639 million in May and $276 million in April last year, when the …

Published: 11 Jul 2025 at 08:55hrs | 962 | by Staff reporter

Zimbabwe's monthly inflation eases to 0.3%

Zimbabwe's month-on-month inflation rate eased to 0.3% in June 2025, shedding 0.6 percentage points from the May figure of 0.9%, according to data released by the Zimbabwe National Statistics Agency (ZimStat). The slowdown is being attribu…

Published: 30 Jun 2025 at 09:03hrs | 364 | by Staff reporter

Zimbabwe's ZiG annual inflation rate surges to 92,5%

Zimbabwe's local currency, Zimbabwe Gold (ZiG or ZWG), recorded a sharp annual inflation surge of 92.5% in June 2025, up by 0.4 percentage points from May, according to the latest data released by the Zimbabwe National Statistics Agency (Z…

Published: 28 Jun 2025 at 15:17hrs | 3 | by Staff reporter

Zimbabwe central bank increases ZiG liquidity to ZWG2bn

The Reserve Bank of Zimbabwe (RBZ) has raised the daily Zimbabwe Gold (ZiG) liquidity in the market from ZWG1.5 billion to ZWG2 billion in a move aimed at easing concerns over currency shortages and boosting economic activity.The developme…

Published: 27 Jun 2025 at 18:25hrs | 1516 | by Staff reporter

Zimbabwe's businesses sound alarm over volatile ZiG

Zimbabwe's business leaders have expressed deep concern over the persistent volatility of the Zimbabwe Gold (ZiG) currency, warning that ongoing instability is crippling industrial growth and eroding business confidence nationwide.The warn…

Published: 26 Jun 2025 at 11:21hrs | 1075 | by Staff reporter

It will take more than Mnangagwa's gold vault tour to restore public trust in the ZiG

There's a saying: trust is built over time - but can be destroyed in an instant, and once broken, confidence is not only shattered, but painfully difficult to rebuild.President Emmerson Mnangagwa's recent visit to the Reserve Bank of Zimba…

Published: 23 Jun 2025 at 18:56hrs | | by Tendai Ruben Mbofana

ZiG usage surges to half of all transactions in Zimbabwe

Nearly half of all transactions processed through Zimbabwe's National Payment System are now being conducted in Zimbabwe Gold (ZiG), marking a dramatic rise in adoption of the country's gold-backed currency and signalling growing public co…

Published: 22 Jun 2025 at 11:05hrs | 1790 | by Staff reporter

Mushayavanhu under fire for outdated monetary assumptions

Reserve Bank of Zimbabwe (RBZ) governor John Mushayavanhu is facing mounting criticism over his persistent claim that the ZiG, Zimbabwe's embattled local currency, can only be strong if it is backed by gold pound-for-pound - an outdated no…

Published: 20 Jun 2025 at 16:32hrs | 495 | by Staff reporter

'Zimbabwe gold-backed currency stable' but ...

Zimbabwe's gold-backed currency now has more than 100% reserve cover and is stable, according to the central bank, but doubts over its credibility remain, underscored by a persistent premium in the parallel market.The Reserve Bank of Zimba…

Published: 18 Jun 2025 at 18:30hrs | 346 | by Staff reporter

RBZ says there is enough ZWG supply

The Reserve Bank of Zimbabwe (RBZ) has assured the public that there are sufficient stocks of the Zimbabwe Gold (ZWG) notes in circulation to meet current demand, despite widespread complaints across the country about the unavailability of…

Published: 18 Jun 2025 at 07:32hrs | 164 | by Staff reporter

ZiG ranked second worst performing currency

 In a stark contrast of fortunes, Ghana's Cedi has emerged as the world's strongest-performing currency in 2025, gaining nearly 50% against the United States dollar, while Zimbabwe's Zimbabwe Gold (ZiG) ranks as the second worst, havi…

Published: 11 Jun 2025 at 11:26hrs | 1057 | by Staff reporyter

IMF wants Zimbabwe's gold-backed ZiG to become sole currency

The International Monetary Fund (IMF) has expressed support for the full adoption of Zimbabwe's new currency, the Zimbabwe Gold (ZiG), as the country pushes to secure a staff-monitored program (SMP) that could unlock much-needed debt restr…

Published: 11 Jun 2025 at 09:05hrs | 1163 | by Staff reporter

'ZWG inflation won't affect consumer purchasing power'

The Reserve Bank of Zimbabwe (RBZ) has downplayed alarm over the country's surging annual ZWG inflation, urging economic players to disregard year-on-year figures and instead focus on more reflective month-on-month inflation rates.This com…

Published: 05 Jun 2025 at 10:07hrs | 78 | by Staff reporter

New high-quality ZiG banknotes on the way

The Reserve Bank of Zimbabwe (RBZ) is set to introduce a new series of improved Zimbabwe Gold (ZiG) banknotes in denominations of ZiG10, ZiG20, ZiG50, ZiG100, and ZiG200, Governor John Mushayavanhu has announced.The phased rollout of the e…

Published: 03 Jun 2025 at 11:53hrs | 859 | by Staff reporter

Zimbabwe gold reserves surge to nearly US$700 million

The reserves backing Zimbabwe's structured currency, Zimbabwe Gold (ZiG), have soared to an impressive US$683 million, more than doubling since the currency's launch in April 2024 and significantly strengthening the currency's sustainabili…

Published: 01 Jun 2025 at 14:03hrs | 66 | by Staff reporter

ZiG inflation rises to 92%

Zimbabwe's annual inflation measured in the local currency (ZiG) surged to 92.1% in May 2025, up from April's 85.7%, signaling growing challenges for the Reserve Bank of Zimbabwe (RBZ) in containing the rising cost of living, Business Time…

Published: 31 May 2025 at 14:04hrs | 1103 | by Staff reporter

RBZ blames liquidity crunch on hoarding of US dollars

The Reserve Bank of Zimbabwe (RBZ) has attributed the ongoing liquidity crunch in the economy to the hoarding of United States dollars, dismissing claims that the shortage is linked to limited supply of the Zimbabwe Gold (ZiG) currency.Zim…

Published: 26 May 2025 at 08:15hrs | 111 | by Staff reporter

Zimbabwe schools warned against refusing ZiG

The government has issued a stern warning to schools that refuse to accept payment in the Zimbabwean Dollar (ZiG), stressing that such actions will result in disciplinary measures. This directive, which comes as the second school term kick…

Published: 13 May 2025 at 10:15hrs | 166 | by Staff reporter

Zimbabwe ZWG yearly inflation hits 85%

The Confederation of Zimbabwe Industries (CZI) has raised alarm over the country's ZWG inflationary trends, which it says are not aligning with current market interventions, suggesting that Zimbabwe is heading into difficult times unless c…

Published: 08 May 2025 at 09:57hrs | 307 | by Staff reporter

Helidrive launches National Emergency Call Centre

HELIDRIVE National Air Rescue Services is setting up a national emergency call centre as part of its ambitious drive to streamline Zimbabwe's first publicly operated air ambulance system, with the ultimate goal of ensuring rapid medical re…

Published: 04 May 2025 at 09:16hrs | 220 | by Staff reporter

RBZ's market-determined exchange rate spurs ZiG stability

The Reserve Bank of Zimbabwe (RBZ)'s adoption of a market-determined exchange rate system has ushered in a new era of stability and confidence in the Zimbabwe Gold (ZiG) currency, with the recent removal of rigid exchange rate controls pla…

Published: 04 May 2025 at 09:15hrs | 813 | by Staff reporter

Zimbabwe's ZiG currency risks extinction stoked by policy choices

Zimbabwe's ZiG is heading toward failure, not through rapid devaluation, but through growing irrelevance, according to Imara Asset Management, the country's oldest independent brokerage.Unlike past currency collapses, which were driven by …

Published: 16 Apr 2025 at 22:45hrs | 86 | by Staff reporter

Zimbabwe's foreign currency reserves surge as ZiG gains stability

Zimbabwe's efforts to stabilise its local currency, the Zimbabwe Gold (ZiG), have begun yielding tangible results, with the country's foreign currency reserves exceeding US$600 million, the Reserve Bank of Zimbabwe (RBZ) has announced.In i…

Published: 13 Apr 2025 at 12:23hrs | 10311 | by Staff reporter

US dollar suffocates the ZiG

A liquidity crunch in Zimbabwe is deepening the economy's embrace of the US dollar and undermining the bullion-backed currency introduced by the government almost a year ago.The ZiG, short for Zimbabwe Gold, which began trading on April 8,…

Published: 06 Apr 2025 at 11:38hrs | 3606 | by Staff reporter

Zimbabwe fast-tracking ZiG banknotes rollout

The Reserve Bank of Zimbabwe (RBZ) is accelerating efforts to deliver new Zimbabwe Gold (ZiG) banknotes, with Governor Dr John Mushayavanhu assuring the public that the rollout will happen "in the shortest possible time," despite the compl…

Published: 06 Apr 2025 at 11:28hrs | 1078 | by Staff reporter

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Nengomasha quits

Zimbabwean minister proposes 24-hour economy

Ambulance crew stole from crash victim in Kwekwe

Zimbabwe's biggest threat to business formalisation is currency

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