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Chamisa's lawyer says ZiG has expired
Nelson Chamisa's lawyer has alleged that Zimbabwe's gold-backed currency, the Zimbabwe Gold (ZiG), introduced in April as a stabilizing alternative to the Zimbabwean dollar, may have lost its status a...Published: 27 Oct 2024 at 19:19hrs | 3186 | by Staff reporter
BRICs payment system being tested
A new digital payments system, BRICS Pay, debuted for live testing at this week's BRICS Business Forum at the International Trade Center in Moscow.During the trial - on 17 and 18 October - for...Published: 19 Oct 2024 at 15:54hrs | 1736 | by Staff reporter
BAZ, central bank meet over policy interventions
The Bankers Association of Zimbabwe (BAZ) held a crucial meeting with the Reserve Bank of Zimbabwe (RBZ) governor, Dr. John Mushayavanhu, on Monday to address key policy changes from the Monetary Poli...Published: 03 Oct 2024 at 08:44hrs | 54 | by Staff reporter
Supermarkets, vendors reject ZiG
In a significant economic shift, supermarkets, vendors, commuter omnibus operators, and tuckshops across Zimbabwe have stopped accepting payments in the local ZiG currency. This decision follows Reser...Published: 01 Oct 2024 at 09:10hrs | 1296 | by Staff reporter
Overview of Popular Crypto Trading Platforms
Crypto Trading Platforms Over the past ten years, cryptocurrency trading has become somewhat popular since many platforms have developed to serve trader...Published: 25 Sep 2024 at 17:05hrs | 223 | by Staff Reporter
ZiG sabotage
The introduction of the Zimbabwe Gold currency (ZiG) nearly five months ago has contributed to noticeable stability and low inflation, largely due to the Reserve Bank of Zimbabwe's (RBZ) rigorous meas...Published: 10 Sep 2024 at 08:49hrs | 6487 | by Staff reporter
Shops dump ZiG official rate for two-tier pricing system
Just like other Zimbabwean currencies introduced since the year 2000, the Zimbabwe Gold (ZiG) currency is already showing signs of instability barely half a year after its introduction, with many shop...Published: 08 Sep 2024 at 13:51hrs | 9557 | by Staff reporter
RBZ makes U-turn
The Reserve Bank of Zimbabwe (RBZ) has announced that holders of non-negotiable certificates of deposit (NNCDs) will now receive tradable government bonds. This decision comes in response to pressure ...Published: 03 Sep 2024 at 15:45hrs | 27504 | by Staff reporter
'ZiG acceptance rate reaches 91%'
Zimbabwe's local currency, ZiG, has seen a significant boost in public confidence, with acceptance rates soaring to 91% from 61% since its launch in April 2024, according to Reserve Bank of Zimbabwe G...Published: 31 Aug 2024 at 11:12hrs | 1786 | by Staff reporter
Shortage of ZiG coins, notes affects Bulawayo vendors
Informal traders in Bulawayo are grappling with significant challenges due to the scarcity of Zimbabwe Gold (ZiG) notes and coins, which has severely impacted their ability to conduct business effecti...Published: 11 Jul 2024 at 07:26hrs | 10 | by Staff reporter
Reserves backing Zimbabwe's ZiG shoot to US$370 million
Prices of goods and services in Zimbabwe are expected to remain stable, thanks to increased cash and mineral reserves backing the new currency, Zimbabwe Gold (ZiG). These reserves have risen from US$2...Published: 07 Jul 2024 at 10:34hrs | 75 | by Staff reporter
Flimsy tactics to resist use of ZiG exposed
Some shops in Bulawayo are defying government regulations by exclusively trading in US dollars and South African rand, ignoring the Zimbabwe Gold (ZiG) currency, despite legal obligations under Statut...Published: 02 Jul 2024 at 06:29hrs | 1 | by Staff reporter
Zimbabwe banks downplay ZWG shortages
Zimbabwe's banking sector has sought to downplay reports of severe liquidity shortages following the introduction of the new Zimbabwe Gold (ZWG) currency by the Reserve Bank of Zimbabwe (RBZ) on April...Published: 30 Jun 2024 at 18:32hrs | | by Staff reporter
Does Mnangagwa intend stabilizing the economy by creating a phantom currency?
Does Mnangagwa intend stabilizing the economy by creating a phantom currency?Ever since the Zimbabwe government announced a new currency on 5th April 2024, they have never ceased bragging over...Published: 26 Jun 2024 at 20:56hrs | 3 | by Tendai Ruben Mbofana
RBZ, kombi operators meet over change
The Reserve Bank of Zimbabwe (RBZ) has reported that despite releasing ZiG55 million in small notes and coins since April, the domestic market continues to experience a shortage of change. ...Published: 11 Jun 2024 at 05:45hrs | | by Staff reporter
RBZ moves to boost ZiG circulation
The Reserve Bank of Zimbabwe (RBZ) has announced a plan to increase the circulation and divisibility of Zimbabwe Gold (ZiG) coins by urging the public, vendors, and transport operators to obtain coins...Published: 06 Jun 2024 at 07:51hrs | 2 | by Staff reporter
Only 30% of Zimbabwe Gold (ZiG) released to the market
The Reserve Bank of Zimbabwe (RBZ) has disbursed ZiG46 million in notes and coins to banks, but only 30% has been released to the market due to a cash crisis. Introduced on April 5 to replace ...Published: 05 Jun 2024 at 07:22hrs | 82 | by Staff reporter
Kombi operators have not seen ZiG
Public transport operators in Bulawayo deny having encountered Zimbabwe Gold (ZiG) notes and coins, disputing claims of rejecting the currency. While some commuters allege rejection of ZiG by ...Published: 05 Jun 2024 at 07:11hrs | 1 | by Staff reporter
Zimbabwe govt threatens to sanction businesses
The government has issued a warning to businesses found pricing their goods and services above the official exchange rate in a bid to stabilize the newly introduced currency, Zimbabwe Gold (ZiG)....Published: 28 May 2024 at 10:17hrs | 6 | by Staff reporter
Zimbabweans complain over ZiG cash shortage
Business operators and residents in Gweru are expressing concerns about the scarcity of the new currency, Zimbabwe Gold (ZiG), and are urging the Reserve Bank of Zimbabwe (RBZ) to increase the availab...Published: 24 May 2024 at 08:35hrs | 1 | by Staff reporter
Zimbabwe govt must support ZiG currency through raft of solid measures
THE Reserve Bank of Zimbabwe (RBZ) has been urged to implement a raft of measures, including fiscal discipline, public consultation and policy consistency, if the newly introduced Zimbabwe Gold (ZiG) ...Published: 19 May 2024 at 11:55hrs | 3 | 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 governor to unpack MPS in Bulawayo
The Zimbabwe Independent, in partnership with the Reserve Bank of Zimbabwe (RBZ), will tomorrow host an event in Bulawayo to unpack the 2024 Monetary Policy Statement (MPS).Other partners incl...Published: 16 Apr 2024 at 07:58hrs | 1 | by Staff reporter
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
Zimbabwe central bank governor gets a rude awakening
BUSINESS executives yesterday gave Reserve Bank of Zimbabwe (RBZ) governor John Mushayavanhu a rude awakening after a snap survey which showed that they were not ready to support the new currency....Published: 12 Apr 2024 at 09:49hrs | 34 | 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
Zimbabwe police to conduct blitz on street traders manipulating ZiG currency
Finance Minister Mthuli Ncube has announced plans for law enforcement crackdowns on black market traders accused of manipulating Zimbabwe's new structured currency, the Zimbabwe Gold (ZiG). This initi...Published: 11 Apr 2024 at 18:31hrs | | by Staff reporter
Zimbabwe banks, service providers successfully configure systems, processes to ZiG
OVER 90 percent of banking institutions and mobile bank service providers have successfully configured their systems and processes in line with the new monetary policy guidelines, paving the way for s...Published: 11 Apr 2024 at 08:39hrs | 1 | 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 | 12 | 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
Retailers, service providers switch to ZiG prices
SEVERAL businesses and key service providers had by yesterday successfully converted prices of their goods and services to the new Zimbabwe Gold (ZiG) currency to ensure smooth consumer transactions....Published: 10 Apr 2024 at 06:02hrs | | 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
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 curren...Published: 09 Apr 2024 at 06:22hrs | | by Staff reporter
Foreign currency dealers ditch trading spots
MOST illegal money changers popularly known as "Osiphatheleni" have abandoned their traditional trading spots in Bulawayo following the launch by the Government of the new gold-backed currency, the Zi...Published: 09 Apr 2024 at 06:20hrs | 3 | by Staff reporter
Zimswitch, EcoCash roll out new currency
FOLLOWING the unveiling of the new currency last Friday, the country's sole national payments platform and clearing house, Zimswitch, yesterday announced that it had completed the rollout of the ZiG p...Published: 09 Apr 2024 at 06:18hrs | 1 | by Staff reporter
Zimbabwe's structured currency: Here's the abracadabra
Against the backdrop of the inception of the supposedly gold-backed currency called the ZiG this week, there has been considerable confusion as to whether or not the Zig is a gold currency.For...Published: 08 Apr 2024 at 12:47hrs | 1 | by Staff reporter
Zimbabweans urged to have confidence in new currency
Measures announced by Reserve Bank of Zimbabwe (RBZ) Governor Dr John Mushayavanhu in his maiden monetary policy statement on Friday should go a long way in containing prices and reducing inflation, a...Published: 08 Apr 2024 at 10:43hrs | | 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
Zimbabwe needs political change, not currency change
ZIMBABWE NEEDS POLITICAL CHANGE NOT A CURRENCY CHANGE.... A currency is a bundle of trust and confidence. A currency is not a currency without confidence and value. Money represents a collecti...Published: 07 Apr 2024 at 11:02hrs | 12 | by Nelson Chamisa
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
Zimbabwe's new currency notes out this week
ZIMBABWEANS were transacting exclusively in United States dollars yesterday as the country began transitioning to the new currency — Zimbabwe Gold (ZiG) — following unveiling of the new gold-backe...Published: 07 Apr 2024 at 10:06hrs | 1 | 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 | 5 | by Dr Bekithemba Mpofu
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 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
Govt critic slams introduction of Zimbabwe's new 'structured currency'
Prominent economist Gift Mugano has dismissed the government's proposed introduction of a "structured currency" as merely a repetition of past unsuccessful endeavors. This move is seen as the latest e...Published: 03 Apr 2024 at 08:53hrs | 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
Why Mnangagwa cut short Mangudya's Zimbabwe Reserve Bank stay
PRESIDENT Emmerson Mnangagwa was yesterday forced to retire Reserve Bank of Zimbabwe (RBZ) governor John Mangudya a month earlier to give his successor room to come up with fresh measures to stabilise...Published: 29 Mar 2024 at 04:52hrs | 12 | 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...Published: 10 Mar 2024 at 06:23hrs | 8 | 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 ...Published: 07 Mar 2024 at 05:10hrs | 1 | by Staff reporter
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