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Zimbabwe govt sinks in deep financial hole
The recent 43% devaluation of Zimbabwe's Zimbabwe Gold (ZiG) currency has exacerbated the government's financial crisis, leaving it struggling to meet its obligations while civil servants and other pu...Published: 19 Nov 2024 at 13:38hrs | 6536 | by Staff reporter
'ZiG must go'
The Zimbabwe Gold (ZiG) currency is facing mounting pressure from the business community, which is advocating for its removal due to increasing volatility, despite the Reserve Bank of Zimbabwe's (RBZ)...Published: 24 Oct 2024 at 08:02hrs | 2200 | by Staff reporter
'ZiG defence plan doomed'
The introduction of Zimbabwe's gold-backed currency, Zimbabwe Gold (ZiG), has faced a series of severe setbacks, pushing the economy deeper into turmoil, according to a new report by the Confederation...Published: 05 Oct 2024 at 16:35hrs | 2638 | by Staff reporter
Zimbabwe shops impose limits amid panic-buying?
Some shops across Zimbabwe have imposed "one item per person" rules for products such as milk to fend off panic-buying triggered by a new loss of faith in the country's latest currency.Last we...Published: 02 Oct 2024 at 07:57hrs | 1181 | by Staff reporter
Man steals US$7 259, R10 000 blows it on cleansing ritual
A 51-year-old Bulawayo man, Bongani Matshazi, has been sentenced to six months in prison after being convicted of stealing US$7,259 and R10,000 from his employer to pay for a spiritual cleansing ritua...Published: 27 Sep 2024 at 15:22hrs | 361 | by Staff reporter
Zimbabwe's gold backed currency ZiG plummets by over 75%
The Reserve Bank of Zimbabwe (RBZ) today allowed the Zimbabwe Gold (ZiG) currency to fall by over 74% against the US dollar, following weeks of mounting pressure on the currency introduced in April. A...Published: 27 Sep 2024 at 13:56hrs | 957 | by Staff reporter
Steve Hanke celebrates the demise of Zimbabwe's ZiG
US-based economist and currency expert Steve Hanke has issued a stark warning about Zimbabwe's economic situation, claiming that the country's inflation rate has reached a staggering 880% per year, de...Published: 27 Sep 2024 at 08:28hrs | 21494 | by Staff reporter
ZiG exchange premium skyrockets
Leading research firms have raised alarm this week over the ballooning exchange premium for the Zimbabwe Gold (ZiG) currency, with parallels being drawn to the collapse of the Zimbabwe dollar. The rap...Published: 13 Sep 2024 at 16:03hrs | 7515 | by Staff reporter
ZiG fails to break Zimbabwe's cash crunch
Informal traders at Harare's Mbare market, a bustling center of commerce generating millions of US dollars weekly, have revealed their ongoing struggle with a cash shortage, hitting women vendors the ...Published: 18 May 2024 at 12:18hrs | | by Staff reporter
RBZ is the problem not ZiG!
Before going to press on the Zimbabwe currency crisis, I had seven questions I wanted authoritatively answered. Professor Gift Mugano was the answer."Isn't he the one who is supposed to disapp...Published: 16 Apr 2024 at 17:58hrs | 1 | by Kenneth Mufuka
Mnangagwa defends Zimbabwe's new gold-backed currency
President Emmerson Mnangagwa has staunchly defended the newly launched gold-backed ZiG currency, asserting that it exemplifies his government's commitment to harnessing national resources. Mnangagwa m...Published: 12 Apr 2024 at 09:52hrs | | by Staff reporter
Mthuli Ncube pleads for patience on ZiG
FINANCE minister Mthuli Ncube has pleaded for patience with the recently introduced Zimbabwe Gold (ZiG) currency amid an uproar from the public over the disruptions it has caused to transactions....Published: 12 Apr 2024 at 09:51hrs | | by Staff reporter
'Bond notes, Zimdollar had no backing'
BOND notes and the Zimdollar (ZWL$) did not have any backing during their tenure, the central bank has said, raising questions on the facilities that were bandied to be supporting the local currency....Published: 12 Apr 2024 at 09:49hrs | 2 | by Staff reporter
US economist mocks Zimbabwe's new currency
United States economist Steve Hanke has derided Zimbabwe's latest currency introduction, the ZiG, asserting that the country's monetary policies resemble a merry-go-round. The ZiG, purportedly backed ...Published: 11 Apr 2024 at 08:50hrs | | 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 s...Published: 10 Apr 2024 at 06:02hrs | 1 | 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 sceptic...Published: 09 Apr 2024 at 06:24hrs | | by Staff reporter
Money changers reject bond notes
Vendors in Harare have ceased accepting bond notes following the introduction of the new currency, the Zimbabwe Gold (ZiG) dollar, despite Reserve Bank of Zimbabwe (RBZ) Governor John Mushayavanu's an...Published: 08 Apr 2024 at 10:49hrs | | by Staff reporter
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
Zimbabwe's new currency chaos
ZIMBABWEAN consumers were yesterday left stranded after businesses suspended trading using the Zimbabwe dollar following the introduction of a new currency on Friday.Reserve Bank of Zimbabwe (...Published: 07 Apr 2024 at 10:35hrs | | 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 an...Published: 07 Apr 2024 at 10:31hrs | 18 | 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
Anti-Zimbabwe economist says ZiG is old wine in new bottles
Prominent Zimbabwean economist and financial analyst Professor Gift Mugano says the new local currency launched today - unimaginatively named Zimbabwe Gold (ZiG) amid noisy claims by government offici...Published: 06 Apr 2024 at 13:20hrs | | by Staff reporter
'RBZ reserves inadequate'
New Reserve Bank of Zimbabwe (RBZ) governor John Mushayavanhu talking to journalists at the central bank in Harare on Thursday during a handover takeover process from his predecessor John Mangudya ove...Published: 04 Apr 2024 at 21:16hrs | 98 | by Staff reporter
Zimbabwe central bank summons Bank CEOs
The Reserve Bank of Zimbabwe (RBZ) has summoned chief executives of key financial institutions, specifically banks, for a meeting tomorrow morning ahead of the much-anticipated launch of a new currenc...Published: 04 Apr 2024 at 10:29hrs | 1 | 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
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 ultimat...Published: 16 Feb 2024 at 07:42hrs | | 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
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 | 8 | by Staff reporter
Mnangagwa protects judge facing a series of corruption scandals
SOMETIME in February The NewsHawks reported that the Judicial Service Commission (JSC) had recommended that President Emmerson Mnangagwa must set up tribunals to investigate High Court Justices Webste...Published: 13 Nov 2023 at 21:25hrs | 10 | by Staff reporter
Mnangagwa's son warns against Nehanda ZWL$50 note snub
Deputy Minister of Finance and Investment Promotion, Kudakwashe Mnangagwa, issued a warning to businesses refusing to accept the ZWL$50 note, emphasizing that they could face substantial penalties. He...Published: 12 Oct 2023 at 06:32hrs | 1 | by Staff reporter
Chamisa replaces Mahere as CCC spokesperson
PROMINENT activist, Promise Mkwananzi, is the new opposition Citizens Coalition for Change (CCC) party spokesperson, replacing Fadzayi Mahere.Mkwananzi, a former leader of the Tajamuka/Sesijik...Published: 25 Aug 2023 at 20:03hrs | | by Staff reporter
Shops cash in on Zimdollar change shortage
ZIMBABWE is currently battling a local currency liquidity crisis which has resulted in large retail shops failing to give change to consumers who buy goods in United States dollars (US$), NewsDay has ...Published: 01 Aug 2023 at 06:31hrs | 6 | by Staff reporter
Mnangagwa's integrity continues facing a litmus test
PRESIDENT Emmerson Mnangagwa's integrity continues facing a litmus test with him violating his constitutional obligation to establish a tribunal to investigate the suitability of Justice Webster China...Published: 16 Jul 2023 at 13:54hrs | 10 | by Staff reporter
Zimdollar demand soars
DEMAND for the Zimbabwean dollar continues to soar as more businesses and individuals seek to transact using the local currency, which has regained its lost value for the third consecutive time at the...Published: 05 Jul 2023 at 07:15hrs | | by Staff reporter
Zanu-PF and its history of violence
ZIMBABWE'S ruling party subjugates the country's people so as to rule illegitimately and loot resources with impunity.This looting by individuals in Zanu-PF results in "unequal power and unequ...Published: 04 Jul 2023 at 07:06hrs | | by Thandekile Moyo
Government says NO to payment of bills in forex
THE directive late last week by the Government that all local councils must continue charging in local currency as opposed to United States dollars as had just been announced by the Harare City Counci...Published: 03 Jul 2023 at 07:08hrs | 7 | by Staff rporter
Exodus continues as Zimbabwean economy lies in ruins ahead of elections
Soaring inflation and collapsing ‘bond notes' are forcing more and more qualified people and professionals to flee the country.Zimbabwe's poor economic performance and depreciation of the su...Published: 03 Jul 2023 at 07:02hrs | 6 | by Staff reporter
Why Mnangagwa failed to improve Zim's economic prospects
IT is now more than five years since President Emmerson Mnangagwa assumed power with a mandate from his backers to improve the country's economic fortunes, the nemesis of his predecessor, Robert Gabri...Published: 29 Jun 2023 at 06:29hrs | 10 | by Martin Majaji
Zimbabwe government defies calls to abandon Zimdollar as it continues to lose value
Inflation in Zimbabwe is currently at 75%, and is expected to rise even higher in the coming months. This is due in part to the government's decision to print more money in an attempt to finance its b...Published: 19 May 2023 at 08:41hrs | 4 | by Staff Reporter
Political plot to corrupt Zimbabwe's judiciary?
CORRUPT government officials are maneuvering to manipulate an anticipated investigation into allegations of misconduct and corruption against High Court judge Webster Chinhamora as he is seen to be pr...Published: 02 Apr 2023 at 11:12hrs | | by Staff reporter
Zimbabwe dying slowly
It was a memorable journey back to Zimbabwe five years after I left the country in January 2018 just three months after the November 2017 coup.My friend and I arrived at the Musina border post...Published: 30 Mar 2023 at 11:46hrs | | by Leonard Koni
$20 Zimdollar notes rejected by traders
Public transport operators and traders must accept $20 notes as they are legal tender and failure to accept legal tender in transactions is outside the law, the Finance Ministry warned yesterday....Published: 10 Mar 2023 at 05:19hrs | | by Staff reporter
Judge dismisses depositor's US$179,000 debt claim from CABS
A local pensioner, Duncan Hugh Cocksedge, is counting his losses after his US$179,000 bank balance which was being held in a CABS account was wiped out after being wholly converted to local currency t...Published: 28 Feb 2023 at 19:53hrs | | by Staff reporter
Zimbabwe macroeconomic priorities for 2023
Zimbabwe's treasury department presented a ZW$4.5 trillion budget (21% of 2021 GDP) for the 2023 fiscal year. The budget roughly translates to US$5.3 billion if the market exchange rate is used. As is...Published: 15 Dec 2022 at 23:53hrs | | by Victor Bhoroma
'Diaspora bond can only worsen Zimbabwe's situation'
ANALYSTS have described Finance minister Mthuli Ncube's latest attempt to secure investment from Zimbabweans living in the diaspora through a diaspora bond as "day dreaming".Addressing diaspor...Published: 03 Oct 2022 at 06:13hrs | 2 | by Staff reporter
Zacc fails to account for expenses
The Zimbabwe Anti-Corruption Commission (Zacc), has failed to produce supporting documents to validate its expenditure in the previous year to auditor-general, Mildred Chiri, a situation that may have...Published: 25 Sep 2022 at 16:46hrs | | by Staff reporter
'Zimbabwe poll fees too costly'
THE cost of contesting elections in Zimbabwe is now the highest in Africa, a data analysis of the new candidate nomination fees set by the Zimbabwe Electoral Commission (Zec) has shown.Zec's n...Published: 24 Aug 2022 at 06:44hrs | 1 | by Staff reporter
Mzembi claims Mangudya, Chinamasa misled Mugabe
FORMER Foreign Affairs minister, Walter Mzembi has made sensational claims Reserve Bank of Zimbabwe (RBZ) governor, John Mangudya, and then Finance minister Patrick Chinamasa shot down his proposal fo...Published: 17 Aug 2022 at 06:44hrs | | by Staff reporter
Zanu-PF's undying love for lies
LIES and threats have now become the order of the day for the President Emmerson Mnangagwa-led government.Since the inception of the new dispensation in 2017, Zimbabweans have been subjected t...Published: 28 Jul 2022 at 06:36hrs | 7 | by Mai Ruru
Biti tells Guvamatanga to 'shut up'
FORMER finance minister, Tendai Biti, has told off current treasury permanent secretary, George Guvamatanga, after he claimed civil servants are better paid now that they were during the government of...Published: 28 Jun 2022 at 07:32hrs | 1 | by Staff reporter
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