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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
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 | 10 | by Staff reporter
Zimbabwe's ZiG currency still stronger than the rand!
Zimbabwe's currency, the ZiG, continues to hold firm after its debut, the central bank in the country said.The currency stands at 13.31 per US dollar, according to data published on the Reserv...Published: 04 Jun 2024 at 13:37hrs | 7 | by Staff reporter
Zimbabwe authorities mix charm with force to shore up ZiG
THE introduction of the world's newest currency in April inspired a reggae artist to record a song praising the ZiG, or Zimbabwe Gold.The catchy tune, titled "Zig Mari," received generous play...Published: 27 May 2024 at 09:56hrs | 4 | by Associated Press
ZiG needs to be backed by RBZ discipline
According to the Reserve Bank of Zimbabwe (RBZ), a structured currency is a currency that is pegged to a specific exchange rate or currency basket and backed by a bundle of foreign exchange assets lik...Published: 16 Apr 2024 at 18:04hrs | 2 | by Zimbabwe Coalition on Debt and Development
Zimbabweans told to approach banks for ZiG, USD
The Reserve Bank of Zimbabwe has enough reserves to satisfy the foreign currency requirements of all legitimate businesses and no company needs to go to the black market to pay for imports, RBZ Govern...Published: 12 Apr 2024 at 09:47hrs | | 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
Introduction of ZiG Currency and its Economic Impact
On Friday the 5th of April 2024, the Zimbabwe Reserve Bank introduced a new "structured currency" called ZiG to tackle the ongoing economic crisis in the country. The new currency, Zim Gold (ZiG), wil...Published: 08 Apr 2024 at 07:02hrs | 16 | by Matthew Dube Esquire
Zapu slams Zimbabwe's new currency ZiG
The 'mother' party ZAPU says as long as the country lacks legitimacy derived from free and fair elections, people will have no faith in a currency produced in Zimbabwe.On April 5, 2024, the ne...Published: 07 Apr 2024 at 21:08hrs | | 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
Strategic Analysis of Zimbabwe's Monetary Policy and Its Implications on the Real Estate Sector
Introduction The Reserve Bank of Zimbabwe unveiled a new monetary policy aimed at stabilizing the country's currency and economy. The policy focuses on ...Published: 07 Apr 2024 at 09:17hrs | 9 | by Dr Bekithemba Mpofu
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
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
Delta, Zimra fight over US$ tax
DELTA Beverages Pvt Ltd is up in arms with the Zimbabwe Revenue Authority (Zimra) after the tax collector concluded that the company had improperly computed its income tax, resulting in the matter spi...Published: 29 Jan 2024 at 10:14hrs | 10 | by Staff reporter
Mnangagwa's govt told to introduce higher denomination banknotes
GOVERNMENT has been urged to issue banknotes with higher denominations to make it easier for people to transact.Currently, the $100 note is the highest banknote in the country, but it has been...Published: 16 Jun 2023 at 07:58hrs | | by Staff reporter
Zimbabweans steal £200,000 in UK, get arrested a posting boastful video
In a shocking turn of events, a group of Zimbabweans has found themselves in handcuffs after allegedly carrying out a daring £200,000 money heist in the United Kingdom (UK). However, their downfall c...Published: 14 Jun 2023 at 08:01hrs | 6 | by Staff reporter
Travellers can now take out US$10 000 cash
THE Reserve Bank of Zimbabwe yesterday doubled the amount of foreign currency in cash someone can physically carry on their person or in their baggage out of the country to US$10 000.Far large...Published: 02 Mar 2023 at 05:45hrs | | by Staff reporter
South African Reserve Bank speaks on the introduction of R500 note
As South Africans grapple with the rising cost of inflation and increased cost of living, there has been a growing debate on whether the country should consider higher denominations of coins and notes...Published: 11 Jun 2022 at 09:43hrs | | by Staff reporter
New ZWL100 banknotes: Much ado about Nothing: Zimcodd
Zimbabwe Coalition of Debt and Development has described the new Zimbabwe $1000 bills as a lot of nothing.In the week under review the Minister of Finance and Economic Development, Prof. Mthul...Published: 13 Apr 2022 at 12:27hrs | | by Stephen Jakes
RBZ shelves plans to sell gold buying unit
The Reserve Bank of Zimbabwe (RBZ) has indefinitely suspended plans to dispose of its controlling stake in the country's sole gold buyer, Fidelity Printers and Refinery, to new shareholders, a senior ...Published: 21 Mar 2022 at 06:21hrs | 6 | by Staff reporter
Cash shortage hits Zimbabwean banks
THOUSANDS of Zimbabweans lined up outside banks and currency exchange offices across the country on Thursday, some for days, in a desperate bid to get cash before Christmas.Most are unlikely t...Published: 24 Dec 2021 at 16:36hrs | 2 | by Staff reporter
Zimbabwe government looks to own digital currency, not crypto
As digital currencies expand and become mainstream and normalised, it is not going to be unusual to find governments around the world considering the benefits that such a currency could offer their ci...Published: 17 Dec 2021 at 11:53hrs | 12 | by Staff Reporter
Unfortunately, you can now buy counterfeit money online
DUE to the Covid-19 outbreak counterfeiters of United States dollars and South African rands have now moved from the streets to online.There is now always a website that is ready to sell and d...Published: 13 Aug 2021 at 06:45hrs | 8 | by Jacob Mutisi
Zimbabwe's new $50 can't buy bread
LAST week, the Zimbabwean central bank introduced a $50 note, the country's highest denomination since a return to Zimbabwean dollars as the main currency in 2019.It joins other denominations ...Published: 13 Jul 2021 at 09:15hrs | 2 | by Staff reporter
Employees steal US$100 000 from Mukuru
A Mukuru branch manager and his assistant allegedly stole US$100 000 from a sealed trunk of banknotes entrusted to their care in February, stuffing the cash they removed into their pockets, and had th...Published: 20 May 2021 at 05:57hrs | | by Staff reporter
Zimbabwe's $50 note imminent
Zimbabwe announced on Thursday that it would shortly introduce a $50 note, while raising cash withdrawal limits to Z$2,000 per day from Z$1,000.The central bank also lifted its main lending ra...Published: 21 Feb 2021 at 22:30hrs | | by Staff reporter
Zimbabwean expats keep country afloat, remits $1 billion
Diaspora remittances to Zimbabwe jumped a record 58 percent from US$635.7 million to US$1 billion in 2020, the central bank said on Thursday, highlighting the key role played by expatriates in keeping...Published: 19 Feb 2021 at 07:24hrs | | by Staff reporter
Eddie Cross quits
LEADING economist Eddie Cross has quit his role as a member of the Reserve Bank of Zimbabwe (RBZ)'s Monetary Policy Committee (MPC) less than two years into the role, Zimbabwe Independent reported....Published: 19 Feb 2021 at 07:14hrs | 15 | by Staff reporter
Mr Cross: Silence cannot be misquoted
In September 2019, Finance and Economic Development Minister, Professor Mthuli Ncube, appointed a nine-member Monetary Policy Committee (MPC) to influence the Reserve Bank of Zimbabwe (RBZ)'s monetary...Published: 25 Jan 2021 at 08:28hrs | 1 | by Dr Tim Rainhard
'High value denominations will not affect inflation'
THE introduction of high value denominations into the economy will not result in high inflation as long as the Reserve Bank of Zimbabwe (RBZ) does not print too much money. Economic commentato...Published: 14 Jan 2021 at 07:52hrs | | by Staff reporter
RBZ has no plans of introducing Z$100 and Z$200 banknotes
THE Reserve Bank of Zimbabwe (RBZ) has said it has no plans of introducing Z$100 and Z$200 banknotes as suggested in some sections of the media.RBZ will soon introduce a new set of higher deno...Published: 12 Jan 2021 at 15:59hrs | | by Staff reporter
Zimbabwe to introduce new banknotes soon
THE Reserve Bank of Zimbabwe (RBZ) will soon introduce a new set of higher denomination banknotes to increase physical money supply, curb cash shortages and improve transacting convenience.Aut...Published: 10 Jan 2021 at 07:52hrs | | by Staff reporter
Covid-19 virus 'survives on phones and cash for 28 days'
The virus responsible for Covid-19 can remain infectious on surfaces such as banknotes, phone screens and stainless steel for 28 days, researchers say.The findings from Australia's national sc...Published: 11 Oct 2020 at 17:34hrs | 4 | by BBC
Commuters swindled in tap-card scam
Problems in recharging Zupco tap-cards in Norton have seen vendors using their own cards, and some have a lot, charging desperate passengers $50, more than twice Zupco's $24, which now on many routes ...Published: 31 Aug 2020 at 06:00hrs | 6 | by Staff reporter
'Mission: Zanu PF realise link between Z$, knowledge and production' - how, when only they know best
Last month the Mnangagwa government enacted the Statutory Instrument 142 (2019) in which the regime banish the use of the basketful of multi-foreign currencies as legal tender in Zimbabwe leaving the ...Published: 19 Jul 2019 at 19:46hrs | | by Wilbert Mukori
A currency backed by nothing
On February 25, 1862, United States President Abraham Lincoln signed the Legal Tender Act, a brainchild of Elbridge Spaulding. Those were terrifying times. The republic was at war with itself and woul...Published: 19 Jul 2019 at 07:51hrs | | by eBusiness Weekly
'Ramaphosa not too stupid to allow SA turn into a Zimbabwe'
A TOP South African politician, businessman and peace consultant says President Cyril Ramaphosa will not be too "stupid" as to allow South Africa to regress into another Zimbabwe.Roelof Petrus...Published: 16 Jun 2019 at 20:28hrs | | by Staff reporter
Zimbabwe's Casino Economy: Extraordinary Measures for Extraordinary Challenges by Gideon Gono
The paperback novel written by Gideon Gono, revolves around the issues regarding his position as the Governor of the Reserve Bank of Zimbabwe and the opportunity Gono had to serve his president and th...Published: 11 Mar 2019 at 09:45hrs | 19 | by Joe K
Why Zimbabwe is fed up with using the U.S. dollar
A decade after Zimbabwe scrapped its own currency to tackle hyperinflation and began using instead mainly the U.S. dollar, the economy is back in free fall. Fuel and banknotes are hard to come by, les...Published: 03 Mar 2019 at 18:52hrs | | by Mike Cohen
Mnangagwa struggles to draw line under brutal crackdown
PRESIDENT Emmerson Mnangagwa vowed on Tuesday to investigate security forces over their deadly crackdown on protesters, as he returned to the country and scrambled to fend off a barrage of criticism....Published: 22 Jan 2019 at 23:14hrs | | by AFP
Chamisa's costly lie
The biggest lie last week was that the violence in urban areas were protests over fuel prices in particular and living costs in general, when in fact the protests were enforced by a small bullying min...Published: 20 Jan 2019 at 09:30hrs | 1 | by Staff reporter
1 year after Mugabe fall, Zimbabwe asks 'What has changed?'
One year ago the unthinkable happened in Zimbabwe: Robert Mugabe fell from power.Tanks rolled in the streets of the capital, Harare, on November 14, 2017, and the military put Mugabe under hou...Published: 12 Nov 2018 at 14:25hrs | | by AP
Money supply growth slows
Zimbabwe's annual broad money supply (various forms of money) increased by just 1,18 percent in August to give a 38 percent rise for the year to August 2018 compared to 47 percent annual growth record...Published: 08 Nov 2018 at 05:20hrs | | by Staff reporter
Mnangagwa to do a Narendra Modi on Zimbabwe black market?
There are whispers the President Emmerson Mnangagwa will come hard on the black market with some saying he will do what Indian Prime Minister Narendra Modi did in India in 2016. The secrecy with which...Published: 11 Oct 2018 at 18:17hrs | 5 | by Ndoro Tafadzwa
Zimbabwe faces worst economic crisis in a decade
As Zimbabwe plunges into its worst economic crisis in a decade, gas lines are snaking for hours, prices are spiking and residents goggle as the new government insists that the country - somehow - has ...Published: 10 Oct 2018 at 14:36hrs | | by AP
Zimbabwe seeks return to dollar as new govt sworn in
Zimbabwe's newly sworn-in finance minister on Monday said he planned to reintroduce the Zimbabwe dollar and accelerate plans to repay the country's debt, in a bid to revive the battered economy....Published: 10 Sep 2018 at 16:27hrs | | by AFP
Can Zimbabwean exiles finally return home?
I know many Zimbabweans in the diaspora. I am one of them.Many such exiled Zimbabweans have written public break-up letters with the country of their birth and "filed for divorce" because the ...Published: 27 Jul 2018 at 09:57hrs | | by Teldah Mawarire
Zimbabwean designs unique Nelson Mandela coins
THE recently-released limited edition of bank notes and coins to mark celebrated late South African leader Nelson Mandela's 100th birth anniversary were designed by a Zimbabwean - Sindiso Nyoni....Published: 23 Jul 2018 at 13:12hrs | | by Staff reporter
WATCH: How to identify fake Mandela bank note or coin
The South African Reserve Bank (SARB) recently launched a new public awareness campaign alongside the introduction of the new Mandela commemorative series of banknotes and R5 circulation coin....Published: 05 Jul 2018 at 13:28hrs | 1 | by Staff reporter
Why digital money makes sense
William Arthur Ward was an American who contributed a lot to the Reader's Digest. His main genres were inspirational maxims and meditations and poems. One of the things he said was: "A pessimist compl...Published: 19 Jun 2018 at 06:56hrs | | by Nick Mangwana
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