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Zimbabwe cuts some spending items as ZiG drop hits budget
Zimbabwe's currency devaluation is forcing the government to cut spending on certain budget items.The country's Treasury asked government departments to prioritize their spending commitments f...Published: 18 Nov 2024 at 15:08hrs | 150 | by Staff reporter
Zimbabwe miners propose royalties linked to metal prices
Zimbabwe's Chamber of Mines has put forward a proposal to the Ministry of Finance suggesting that royalty payments be linked to the market prices of metals, including lithium and platinum group metals...Published: 16 Nov 2024 at 14:27hrs | 86 | by Staff reporter
'Projected Trump victory driving demand for dollars'
Increasing belief on the financial markets that Donald Trump will win the US presidential election next month has been strengthening the dollar, Bloomberg has reported, citing British multinational ba...Published: 25 Oct 2024 at 13:45hrs | 563 | by Staff reporter
George Guvamatanga rules out Zimbabwe exchange-rate convergence
Zimbabwe won't allow the street rate of the ZiG to determine where its official rate should be as it isn't driven by market fundamentals, a senior Treasury official said.The ZiG is trading at ...Published: 18 Oct 2024 at 08:53hrs | 1701 | by Staff reporter
Zimbabwe will start to pay 444 white farmers after land grabs
Zimbabwe will begin compensating White farmers whose land was seized in 2000 and led to the decimation of agriculture and the economy.The government has cleared 444 former commercial farm owne...Published: 17 Oct 2024 at 09:09hrs | 425 | by Staff reporter
Zimbabwe hires Rothschild advisers over $21 Billion defaulted debt pile
Zimbabwe's government has hired financial and legal advisers to help it navigate potential talks with international creditors over the $21 billion it owes, according to people familiar with the matter...Published: 10 Oct 2024 at 12:22hrs | 530 | by Staff reporter
Big international bank leaving Ramaphosa's South Africa
HSBC has exited its operations in South Africa after concluding deals with FirstRand and Absa to take over its two main divisions in the country. The bank first opened a South African office i...Published: 29 Sep 2024 at 12:49hrs | 44604 | by Staff reporter
Zimbabwe needs $1.6bn to lift crop output after El Nino induced drought
ZIMBABWE needs $1.64 billion to bolster crop production after a devastating drought increased food insecurity and prompted a state of disaster.The southern African nation is targeting a more t...Published: 08 Sep 2024 at 09:46hrs | 62 | by Staff reporter
Rupert overtakes Dangote as Africa's richest man under Ramaphosa's watch
Johann Rupert, the South African businessman, has overtaken Aliko Dangote as Africa's richest man.This was according to the latest information from the Bloomberg Billionaires Index.Rup...Published: 01 Sep 2024 at 18:57hrs | 1392 | by Staff reporter
How a drunk American envoy outed a CIA operative undercover in Zimbabwe
It reads like a script from a B-grade spy movie, but a new disclosure sheds light into the world of US intelligence in Africa. According to US documents, an American government official in Harare may ...Published: 28 Aug 2024 at 12:49hrs | 2701 | by Staff reporter
Awareness of responsible gambling in Zimbabwe's community
A gambling boom hit the African market in recent years, and Zimbabw...Published: 12 Aug 2024 at 20:00hrs | 221 | by Staff Reporter
Zimbabwe Central Bank says usage of ZiG has doubled
The use of Zimbabwe's bullion-backed currency has doubled since it was launched in early April, central bank Governor John Mushayavanhu told the country's Sunday Mail newspaper.The ZiG is now ...Published: 31 Jul 2024 at 07:07hrs | 915 | by Staff reporter
Zambia to criminalise the use of US$ in local economy
Zambia's central bank published plans to criminalize the use of foreign currency in the local economy amid the biggest rally in the kwacha in four months.The southern African nation has faced ...Published: 01 Jul 2024 at 08:46hrs | 31 | 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 demands major reductions on $19.2bn debt
Zimbabwe has asked its creditors for significant debt reductions on its $19.2 billion internal and external debt, Bloomberg reported on May 30, citing Finance Minister Mthuli Ncube."We will be...Published: 03 Jun 2024 at 09:07hrs | | by Staff reporter
IMF calls Zimbabwe's switch to ZiG an 'important' step
The International Monetary Fund (IMF) has commended Zimbabwe's recent adoption of a new gold-backed currency, known as ZiG, viewing it as a positive development. This marks the IMF's first substantive...Published: 24 May 2024 at 08:20hrs | 1 | by Staff reporter
Zimbabwe blocks Starlink services
Zimbabwe's telecoms regulator says it has told Elon Musk that his SpaceX should first submit a licence before its Starlink can be allowed to operate in the country.On Friday, Starlink blocked ...Published: 16 Apr 2024 at 18:05hrs | 16 | by Staff reporter
French company wants to buy South Africa's MultiChoice for US$1.9 billion
French media group Vivendi's, opens new tab Canal+ made an all-cash mandatory offer on Monday to buy all the shares of South African broadcaster MultiChoice, opens new tab it does not already own for ...Published: 08 Apr 2024 at 11:01hrs | 1 | by Staff reporter
The Zimbabwe currency crisis as seen from abroad!
AS we go to press, US financial news media has become aware of the Zimbabwe financial crisis.Bloomberg news agency and the Financial Times have reported authoritatively on the events surroundi...Published: 07 Apr 2024 at 10:25hrs | 4 | by Kenneth Mafuka
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 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, accordin...Published: 26 Mar 2024 at 06:37hrs | 1 | by Staff reporter
Southern Africa just had its driest February on record
A swathe of Southern Africa suffered the driest February in decades that wiped out crops, precipitated power shortages and threatened to send already high food prices surging further.Last mont...Published: 11 Mar 2024 at 17:10hrs | 3 | 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 b...Published: 07 Mar 2024 at 05:13hrs | | by Staff reporter
Coltart attends AMALI conference
BULAWAYO mayor David Coltart last week attended the annual African Mayors Leadership Initiative (AMALI) that was held at the University of Cape Town in South Africa aimed at enabling African city fath...Published: 06 Feb 2024 at 04:37hrs | | by Staff reporter
Coltart brings Bloomberg Funds to Bulawayo
BULAWAYO is among 150 cities from across the world that are set to benefit from the Bloomberg Philanthropy Youth Climate Action Fund, which seeks to rapidly launch and support youth-led climate initia...Published: 02 Feb 2024 at 04:55hrs | | by Staff reporter
Coltart engages Cincinnati, Cologne for twinning opportunity with Bulawayo
BULAWAYO Mayor David Coltart has unveiled initiatives aimed at fostering partnerships with the American town Cincinnati and Germany's Cologne, as part of several developments. These plans include a me...Published: 05 Dec 2023 at 05:39hrs | 8 | by Staff reporter
US resists pressure to reform IMF voting shares
US Treasury Secretary Janet Yellen showed little willingness to embrace reforms at the International Monetary Fund that would give China and other developing countries significantly more say in how th...Published: 12 Oct 2023 at 06:18hrs | | by Staff reporter
AU accomplice in Zimbabwe corruption
THE sincerity of African leaders and institutions in fighting corruption has come under scrutiny following the appointment of controversial Zimbabwean self-styled prophet Uebert Angel as its Pan-Afric...Published: 25 Jul 2023 at 08:24hrs | 2 | by Staff reporter
Zimbabwe central bank owes over $4bn for food, fuel supply
Zimbabwe's central bank has racked up debts of more than $4 billion to banks and companies, including commodities giant Trafigura Group and national flag carrier South African Airways.The Rese...Published: 22 Jul 2023 at 08:07hrs | 2 | by Staff reporter
Gold Standard pauses issuance of CO2 credits from Zimbabwe
GOLD Standard, a verifier of carbon offsets, is temporarily pausing the issuance of credits from projects based in Zimbabwe, after the country's announcement earlier this year that it plans to take ha...Published: 17 Jul 2023 at 06:50hrs | 6 | by Staff reporter
UAE suspends Gold Refinery over owners' alleged laundering links
The United Arab Emirates suspended the accreditation of one of its biggest gold refineries over concerns that its owners had ties to alleged money launderers.Emirates Gold DMCC — which has o...Published: 15 Jul 2023 at 11:17hrs | 11 | by Staff reporter
Zimbabwe industrial power users to raise $250 million for floating solar panels
Zimbabwe's industrial electricity consumers and exporters aim to raise $250 million to build the first phase of floating solar panels on the world's largest man-made lake.Members of the Intens...Published: 05 Jul 2023 at 18:11hrs | 7 | by Staff reporter
Mbalula remarks reflect how Zimbabweans are weighing on SA's public service delivery
NOTWITHSTANDING massive infrastructure projects and other developmental initiatives being undertaken in Zimbabwe, the Zimbabwean development question remains debatable.A majority of the ongoin...Published: 04 Jul 2023 at 07:07hrs | 1 | by Zimbabwe Coalition on Debt and Development
Western backed Zambia wins debt relief
Zambia reached an agreement in principle to restructure US$6,3 billion of debt with bilateral lenders, setting a precedent for a growing list of countries struggling to service their liabilities....Published: 26 Jun 2023 at 06:45hrs | | by Staff reporter
Zimbabwe is heading towards economic armageddon, says America's Steve Hanke
Steve Hanke, a Professor of Applied Economics at The Johns Hopkins University in Baltimore, USA, has predicted a catastrophic downfall of the Zimbabwean economy describing its trajectory as "heading t...Published: 13 Jun 2023 at 14:29hrs | 1 | by Staff reporter
Zimdollar rates race to 3,000
In a significant blow to Zimbabwe's economy, the country's dollar experienced a sharp decline of 26 percent during Tuesday's foreign-exchange auction, a Bloomberg report said. The official exchange ra...Published: 24 May 2023 at 17:12hrs | | by Staff reporter
Mthuli Ncube rules out ditching Zimdollar
Zimbabwe plans to keep its local currency as legal tender, even as the US dollar is now the unit of choice for most transactions in the economy.The extensive use of US dollars doesn't concern ...Published: 22 Apr 2023 at 19:08hrs | 1 | by Staff reporter
China Energy proposes $1 billion floating solar farm In Zimbabwe
More than 1.8 million photovoltaic panels installed over 146 modular floating units would be used for the Lake Kariba project.China Energy Engineering Group proposed building a 1,000-megawatt ...Published: 28 Mar 2023 at 06:57hrs | | by Staff reporter
AfDB appointed adviser for Batoka Gorge project
THE African Development Bank has been appointed lead financial adviser for the planned US$5-billion Batoka Gorge hydro-power dam, designed to supply Zambia and Zimbabwe, which are facing crippling pow...Published: 15 Feb 2023 at 05:00hrs | | by Staff reporter
Zimbabwe among top 24 tourists destinations
GLOBAL business and financial media group, Bloomberg, has listed Zimbabwe among top 24 destinations to visit in 2023, despite widespread negative foreign publicity and a southern African nation's tank...Published: 16 Jan 2023 at 16:23hrs | 1 | by Staff reporter
Musk 'frees' the bird
Elon Musk became Twitter Inc's owner on Thursday, firing top executives and providing little clarity over how he will achieve the lofty ambitions he has outlined for the influential social media platf...Published: 29 Oct 2022 at 20:51hrs | 1 | by Staff reporter
IMF says gold coins missed chance to build Zimbabwe reserves
The gold coins that have been in circulation in Zimbabwe for almost three months are a missed chance to build the nation's gold reserves, according to the International Monetary Fund."The sale...Published: 23 Sep 2022 at 05:57hrs | 1 | by Staff reporter
Mnangagwa's govt bars State agencies from charging fees in US dollars
Zimbabwe banned government ministries and local authorities from charging fees and levies in foreign currency, the Ministry of Finance said."Treasury notes with concern that some government ag...Published: 04 Sep 2022 at 15:20hrs | | by Staff reporter
South Africa plans to end most special permits for foreigners
South Africa plans to end most special permits for foreigners as it revamps its immigration policies to manage an influx of economic migrants.The government announced that a special dispensati...Published: 26 Aug 2022 at 20:48hrs | | by Staff reporter
Zimbabwe central bank considers currency board
ZIMBABWE is considering establishing a currency board to support the Zimbabwean dollar, as inflation surges.The southern African country is fast moving back into a hyperinflationary crisis, ab...Published: 12 Aug 2022 at 20:19hrs | 13 | by Staff reporter
'Zimdollar at risk of complete rejection'
ZIMBABWE'S local currency is at "risk" of being shunned if runaway inflation isn't quelled, the country's largest business group said.Policy interventions implemented by authorities over the l...Published: 07 Jul 2022 at 08:22hrs | 3 | by Staff reporter
Sanctions make Russian debt default a non-event
Russia is on the brink of its first debt default since 1998 as the Sunday deadline to make a $100m interest payment seems certain to be missed.Russia has the money and is willing to pay, but s...Published: 26 Jun 2022 at 09:26hrs | | by BBC
Zimbabwe thermal power plan under threat?
ZIMBABWE'S plan to refurbish two idle coal-fired power stations has been thrown into disarray by China's decision to ban investment in plants burning the dirtiest fossil fuel outside its borders....Published: 10 Jun 2022 at 07:55hrs | | by Staff reporter
132% inflation no cause for 'panic', says Mthuli Ncube
Zimbabwe is taking steps to tackle an inflation rate that's jumped to 132% after its currency slumped, Finance Minister Mthuli Ncube said."We are instituting measures that every other country ...Published: 27 May 2022 at 06:53hrs | | by Staff reporter
Mnangagwa's govt jittery
GOVERNMENT is in panic mode and fears an uprising hence resorting to using the police, military and other security organs as a section of Zimbabweans push for economic order, with analysts predicting ...Published: 15 May 2022 at 17:56hrs | | by Staff reporter
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