Bulawayo24 News - Skyes! "it makes perfect sense"

Mthuli Ncube sees 2025 growth rebound after this year's drought

Zimbabwe has projected economic growth to accelerate to 6 percent in 2025 from 2 percent this year, helped by improved agricultural output and power generation as the country recovers from a severe drought, finance minister Mthuli Ncube sa…

Published: 28 Nov 2024 at 16:32hrs | 193 | by Staff reporter

Zimdollar remains legal tender until month-end

The Zimbabwe dollar remains legal tender for all domestic transactions until April 30, when the Zimbabwe Gold (ZiG) notes and coins will come into circulation, the Reserve Bank of Zimbabwe (RBZ) has said.The central bank also said the rece…

Published: 10 Apr 2024 at 06:02hrs | 3 | by Staff reporter

Zimbabwe's new ZiG spins markets into trading disruptions and uncertainty

Zimbabwe's newly introduced ZiG currency is causing market disruptions and transaction bottlenecks despite central bank assurances that it is backed by gold and foreign currency reserves, amid scepticism that the government will keep money…

Published: 09 Apr 2024 at 06:24hrs | 3 | 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 currency last week.But observers said the bli…

Published: 09 Apr 2024 at 06:22hrs | 1 | by Staff reporter

RBZ boss appointment challenged in court

PRESIDENT Emmerson Mnangagwa's appointment of veteran bank John Mushayavanhu as the new Reserve Bank of Zimbabwe (RBZ) governor has been challenged by two university students, who allege that it contravenes the law.Mnangagwa was forced to …

Published: 07 Apr 2024 at 10:33hrs | 4 | by Staff reporter

ZiG is putting lipstick on a pig, says Biti

The Reserve Bank of Zimbabwe (RBZ) on Friday introduced a new currency to be known as the ZiG, which stands for Zimbabwe Gold.RBZ governor John Mushayavanhu said the ZiG would be structured and set at a market-determined exchange rate. It …

Published: 07 Apr 2024 at 10:31hrs | 30 | by Staff reporter

New currency without public confidence won't solve crisis

The government of Zimbabwe through the Reserve Bank of Zimbabwe (RBZ) has launched a new currency, which it calls the Zimbabwe Gold (ZiG).We have been here before and it is key to understand if the ZiG dollar will be successful.It is impor…

Published: 07 Apr 2024 at 10:29hrs | 6 | by Mlondolozi Ndlovu

Zimbabwe currency crisis: Time to face the truth

THERE is, of course, no such thing as "a shortage of foreign currency".In open and disciplined markets, all that such a claim reflects is an over-valued local currency, whose managers resist the simple law of supply and demand, at that poi…

Published: 07 Apr 2024 at 10:26hrs | 1 | by Obert Nyandoro

Zimbabwe's new currency greeted with pessimism

The new currency introduced by the Reserve Bank of Zimbabwe (RBZ) on Friday has been branded old wine in new bottles by economists and financial experts who doubt that it will stand the test of time.RBZ governor John Mushayavanhu in his fi…

Published: 07 Apr 2024 at 10:18hrs | 2 | by Mthandazo Nyoni

Econet platforms switch to new currency

ECONET Wireless Zimbabwe yesterday suspended trading in Zimbabwe dollars to facilitate the changeover to the new ZiG currency on its various product platforms.The ZiG was unveiled on Friday when new Reserve Bank of Zimbabwe (RBZ) governor,…

Published: 07 Apr 2024 at 10:14hrs | | by Staff reporter

Econet announces preps for changeover from Zimdollar to ZiG

Econet Wireless Zimbabwe has announced that it has suspended trading in the ZWL currency as it works to configure the changeover from ZWL to the new ZiG currency on its various product platforms. Econet Wireless, the leading telecommunicat…

Published: 07 Apr 2024 at 10:08hrs | 2 | by Staff reporter

Zimbabwe's new currency requires bold measures to succeed

JOHN Mushayavanhu, the new Reserve Bank of Zimbabwe (RBZ) governor, yesterday put his head on the block declaring that "not under my watch" will the apex stray from its core functions as he launched a structured currency seen as the last-d…

Published: 06 Apr 2024 at 08:10hrs | 2 | by Staff reporter

RBZ adopts market-based exchange rate

THE Reserve Bank of Zimbabwe (RBZ) has adopted a market-determined system for setting exchange rates, with the auction system being replaced by a refined interbank foreign exchange market which connects and allows trading between willing-b…

Published: 06 Apr 2024 at 08:06hrs | | by Staff reporter

Zimbabwe launches â€˜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 United Nations for $2 billion in aid to hel…

Published: 05 Apr 2024 at 21:44hrs | 75 | by Staff reporter

Zimbabwe Abandons Weakened Dollar for Gold-Linked Currency

Reserve Bank of Zimbabwe (RBZ) Governor Dr. John Mushayavanhu unveiled the 2024 Monetary Policy Statement (MPS) this afternoon, outlining a comprehensive plan to stabilize the nation's currency. The policy aims to establish a robust and st…

Published: 05 Apr 2024 at 13:28hrs | 122 | 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.The Zimbabwe dollar traded at 22 476 a…

Published: 04 Apr 2024 at 06:03hrs | 2 | 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 market has been waiting for to pick th…

Published: 31 Mar 2024 at 20:50hrs | 3 | by Staff reporter

All eyes on new RBZ boss

RESERVE Bank of Zimbabwe (RBZ) new governor John Mushayavanhu is facing a tough challenge as he is expected to immediately halt the freefall of the Zimbabwe dollar and stop the economic implosion blamed on the currency chaos.President Emme…

Published: 31 Mar 2024 at 16:36hrs | 2 | by Staff reporter

Zimbabwe to keep Zimdollar

Zimbabwe plans to keep its local dollar, a currency that has lost value every single trading day of the year, even as fiscal and monetary authorities work on new plans to revamp the currency, according to Finance Minister Mthuli Ncube."We …

Published: 26 Mar 2024 at 06:37hrs | 2 | by Staff reporter

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.The country's local dollar has weakened again…

Published: 21 Mar 2024 at 08:47hrs | 2 | by Staff reporter

'Parents can pay examination fees in Zimdollar'

The Zimbabwe Schools Examination Council has opened a one week window for parents and guardians to pay examination fees for the June 2024 Ordinary and Advanced Level examinations in local currency at the prevailing interbank rate.ZIMSEC ye…

Published: 15 Mar 2024 at 07:09hrs | 2 | 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 release of the 2024 Monetary Policy Statement …

Published: 10 Mar 2024 at 06:23hrs | 13 | by Staff reporter

Mnangagwa says parastatals should consider receiving payments in Zimdollars

GOVERNMENT has warned departments and parastatals accused of charging for services exclusively in foreign currency, saying they are acting outside the law.Speaking in Parliament during a question and answer session, Finance deputy minister…

Published: 09 Mar 2024 at 11:13hrs | | by Staff reporter

Mthuli Ncube sees $18bn debt talks on course despite US exit

Talks on the restructuring of Zimbabwe's $18 billion debt remain on track, even after the US paused its involvement in the discussions, Finance Minister Mthuli Ncube said.The discussions led by African Development Bank President Akinwumi A…

Published: 07 Mar 2024 at 05:13hrs | 2 | by Staff reporter

Zimbabwe must deal with currency volatility causes, not symptoms

THE United Nations Economic Commission for Africa (Uneca) executive secretary Claver Gatete this week said Zimbabwe should deal with the root causes of currency volatility not symptoms.Gatete made the remarks on Tuesday at the just ended s…

Published: 07 Mar 2024 at 05:10hrs | 2 | by Staff reporter

Vendors decry unfavourable conditions at Egodini

VENDORS operating at the newly refurbished Egodini Terminus have expressed concern over what they termed "unfavourable" business conditions after Bulawayo City Council (BCC) allegedly barred them from selling perishables such as vegetables…

Published: 04 Mar 2024 at 04:42hrs | 4 | by Staff reporter

Zimbabwe govt's proposed new currency reforms doomed

THE recently proposed currency changes, intended to underpin the Zimbabwe dollar with assets, will come to nought, given that country lacks sufficient reserves to support the local unit, an independent advisory has said.Finance minister Mt…

Published: 25 Feb 2024 at 09:27hrs | 3 | 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 ultimately fail.Earlier this week, Finance Min…

Published: 16 Feb 2024 at 07:42hrs | 2 | by Staff reporter

IMF wants Zimbabwe central bank to dump monetary policies

THE International Monetary Fund (IMF) has advised government to cut the Reserve Bank of Zimbabwe's (RBZ) role in crafting monetary policies to just its core functions, after the local currency depreciated by more than 70% year to date.This…

Published: 15 Feb 2024 at 10:07hrs | 3 | by Staff reporter

IMF tells Zimbabwe to deal with Zimdollar issue

THE International Monetary Fund (IMF) has implored the government to remove the 10% trading margin on domestic transactions, saying the policy was causing exchange restrictions and distortions.Speaking to the Press in Harare yesterday, the…

Published: 15 Feb 2024 at 10:05hrs | 4 | by Staff reporter

Withdraw Zimdollar from circulation

GOOD day, President Emmerson Mnangagwa. Your Excellency, it is my conviction that the Zimdollar, all things considered, is a swine. It is the epitome of voodoo economics, based on implausible assumptions. It ought not have been reintroduce…

Published: 14 Feb 2024 at 19:25hrs | 2 | by Cyprian Muketiwa Ndawana

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 country The NewsHawks reported.This has been…

Published: 12 Feb 2024 at 13:49hrs | 2 | 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 Monday.The Zimbabwean dollar has falle…

Published: 12 Feb 2024 at 11:31hrs | 2 | 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 the Reserve Bank of Zimbabwe and Treasury are joi…

Published: 11 Feb 2024 at 21:07hrs | 1 | by Staff reporter

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 10 160 per US dollar in the spot market for the…

Published: 31 Jan 2024 at 04:56hrs | 4 | 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 January from 26.5% in December, according to data rel…

Published: 29 Jan 2024 at 16:30hrs | 1 | by Staff reporter

Zimdollar flounders

Zimbabwe's central bank will hold its first rate-setting meeting of the year next Monday as it seeks to deal with a currency rout.The monetary policy committee will meet "to discuss interventions to deal with the current exchange rate and …

Published: 25 Jan 2024 at 06:37hrs | 1 | by Staff reporter

Fresh measures to prop up Zimdollar

The GOVERNMENT is set to unveil new interventions, which may include reforming the foreign currency auction system and boosting foreign currency supply in the market, to deal with the recent volatility affecting the Zimbabwe dollar.The rec…

Published: 21 Jan 2024 at 07:27hrs | 1 | 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 officially traded at 6,192 per 1 U.S. dolla…

Published: 18 Jan 2024 at 17:52hrs | 1 | by Staff reporter

Zimbabwe family basket skyrockets to $3,6 million

THE cost of the food basket for a family of six has shot to ZWL$3,6 million, with retailers now charging some goods exclusively in United States dollars (US$) owing to the depreciating Zimbabwe dollar, the Consumer Council of Zimbabwe (CCZ…

Published: 10 Jan 2024 at 05:56hrs | 11 | by Staff reporter

Zimdollar exchange rate bolts

MARKET watchers have predicted a gloomy 2024 outlook amid a galloping exchange rate, steep taxation and an ever tanking economy, NewsDay reported.As usual, this is heavily impacting on ordinary citizens whose disposable incomes have been e…

Published: 08 Jan 2024 at 05:36hrs | 14 | by Staff reporter

Headmasters confront govt over Zimdollar salaries

HEADMASTERS from government schools across Zimbabwe have put their employer on notice to press for United States dollar salaries starting from the forthcoming term.School heads and teachers are currently earning at least US$300 and about Z…

Published: 03 Jan 2024 at 05:30hrs | 13 | 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.The local currency has been on a freef…

Published: 30 Dec 2023 at 16:33hrs | 13 | by Staff reporter

Zimdollar decline fueled by surge in money supply

THE Zimbabwe dollar has taken a battering in the past month with economists attributing the depreciation of the local currency to increased money supply after private and public sector employees were paid their annual bonuses.According to …

Published: 24 Dec 2023 at 16:10hrs | 11 | by Staff reporter

Zimdollar worse off since 2022

THE local currency, the Zimbabwean dollar, has continued to depreciate against the United States dollar on an unrestrained trajectory, despite various measures implemented by the Reserve Bank of Zimbabwe.However, the margin of decline has …

Published: 03 Dec 2023 at 19:20hrs | 13 | by Tinashe Duma

'Zimdollar here to stay'

GOVERNMENT says it will announce a clear and transparent roadmap towards de-dollarisation to avoid shocks that may hurt the economy and drive citizens deeper into poverty.The country was due to end dollarisation in 2025 to put to bed the m…

Published: 17 Nov 2023 at 05:06hrs | 8 | by Staff reporter

Mthuli Ncube to prioritise Zimdollar stability

FURTHER stabilising the Zimbabwe dollar and consolidating economic growth will be prioritised in the 2024 budget, Finance, Economic Development and Investment Promotion Minister Professor Mthuli Ncube has said.He told our Harare bureau tha…

Published: 12 Nov 2023 at 11:43hrs | 12 | by Staff reporter

'Zimbabwe's hastened currency shift won't end lending crisis'

Economists suggest that the recent issuance of a Statutory Instrument (SI) extending the use of multiple currencies in Zimbabwe until 2030 may have revealed the extent of President Emmerson Mnangagwa's discretionary powers to change polici…

Published: 03 Nov 2023 at 14:55hrs | 13 | by Staff reporter

'Zimbabwe headed for mono currency,' says Mthuli Ncube

The enactment of Statutory Instrument 218 of 2023 was driven by market chaos, including banks' reluctance to lend in both ZWL and US$. The new regulation effectively extends the use of the multiple currency system in Zimbabwe until Decembe…

Published: 03 Nov 2023 at 05:52hrs | 27 | by Staff reporter

Zanu-PF MPs disown Zimdollar

Members of Parliament from the ruling Zanu-PF party have called for the disbursement of Constituency Development Fund (CDF) allocations in United States dollars, as they expressed concerns about service providers rejecting the local curren…

Published: 16 Oct 2023 at 08:09hrs | 2 | by Staff reporter

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Zim schools to introduce anti-sanctions curriculum, from ECD

National Sports Stadium rehab will be completed by year-end

High Court nullifies US$140,000 property sale in divorce dispute

Bulawayo records major HIV decline

Elderly overlooked in HIV prevention

Tagwirei publishes snakebite management guidebook

General Mutamba honoured with Zimbabwe's top policing award

Woman found buried in garden, stepdaughter arrested

Zimbabwe's highways double as drug pipelines

Zimbabwe accelerates school construction drive

Married woman caught pants down

Mnangagwa caps 640 HIT graduates

Zim medics become lifeline for migrants in South Africa

Man arrested for highlighting poor sanitation at Registrar's office

Statutory fees remain until laws are amended

RBZ assures stability over post post-dollarisation era

Zimbabwe industries push for legislative protection

Hichilema to make State Visit to Zimbabwe

Air Zim, NHS scoop tourism awards

Maimane calls on SA to hold Zanu-PF accountable

E.D. Mnangagwa road to close for sewer works

Armed forces and HIV infections

Vendor goes blind after stealing potatoes

Convict escapes prison, arrested in less than 12 hours

Pharmacist sues CID officers for malicious arrest

Manicaland councils in disarray

Tourism Minister's Stance on Robots in Hotels Sparks Interest

Private parts rip-off attempt, condom wearing delay rescues rape victim

Mnangagwa's Zimbabwe: Speak out, get jailed

60% of Zimbabweans visit sangomas

RBZ's FIU goes after car dealerships

Mudenda blames opposition for sanctions

Zimbabwe's soccer nepotism falls to Mozambique

418 000 pupils to sit for grade 7 exams

Zanu-PF Bulawayo backs Mnangagwa beyond 2028

Spike in complaints over fake products

Erectile dysfunction man axes father to death

Warriors fans call for Nees' dismissal

Hichilema to make State visit to Zimbabwe

China man jailed for rhino horn dealings

Warriors fans call for Nees' dismissal

Man jailed for insulting Mnangagwa, Chiwenga and their mothers

Ian Smith never named anything after himself – why then are Zimbabwe leaders so insecure and desperate for self-glorification?

Murder suspects nabbed in Zambia

Zimbabwe to freeze civil service hiring in 2026

'Operation Dudula is a group of thugs,' says Malema

Businessman shoots wife dead, commits suicide

Illegal private schools get 4 months to comply or face closure

Redcliff plans CBD relocation

Munhumutapa day is not a public holiday

News Team

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