Bulawayo24 News - Skyes! "it makes perfect sense"

RBZ guarantees US$ contracts beyond 2030

The Reserve Bank of Zimbabwe (RBZ) has reassured markets that U.S. dollar contracts will remain valid even after the government's 2030 de-dollarisation deadline, a major policy shift aimed at preventing a repeat of past currency crises."Do…

Published: 24 Aug 2025 at 19:19hrs | 371 | by Staff reporter

FBC urges clear Zimbabwe de-dollarisation framework

FBC Holdings Limited has called on the Reserve Bank of Zimbabwe (RBZ) to establish a clear and credible framework for de-dollarisation to ease pressure on the country's foreign currency reserves.The appeal comes amid government plans to ph…

Published: 15 Aug 2025 at 08:55hrs | 406 | by Staff reporter

Why Zimbabweans rue plan to ditch US dollar?

Zimbabwe's plans to drop the US dollar in five years is already causing jitters in an economy that has suffered nearly two decades of currency volatility and bouts of record hyperinflation.Harare has set 2030 as the target to stop using th…

Published: 14 Aug 2025 at 10:44hrs | 1000 | by Staff reporter

RBZ Chief charts path to monetary stability

Reserve Bank of Zimbabwe (RBZ) Governor Dr. John Mushayavanhu says the central bank is making steady progress in consolidating price stability, growing foreign reserves, and reinforcing the banking sector's resilience, despite persistent m…

Published: 01 Aug 2025 at 13:12hrs | 175 | by Staff reporter

Zimbabwe's July inflation shows mixed trends

The latest inflation figures released by the Zimbabwe National Statistics Agency (ZIMSTAT) for July 2025 show a modest rise in prices for goods and services measured in both the United States Dollar (USD) and Zimbabwe Gold (ZiG), with nota…

Published: 28 Jul 2025 at 18:58hrs | 194 | by Staff reporter

Zimbabwe cannot fund large-scale projects without monetary autonomy

Zimbabwe's economic debate is often framed through the lens of inflation control, exchange rate stability, and the day-to-day functionality of the US dollar in domestic transactions.Yet, beneath the surface of this apparent "fake stability…

Published: 01 Jul 2025 at 12:05hrs | 198 | by Brighton Musonza

US dollar weakness fuels surge in currency volatility

The dollar's descent is elevating the price of hedging currency trades around the world, breaking up a long-standing market conviction that costs tend to come down when the greenback weakens.The correlation between the dollar and a widely-…

Published: 19 May 2025 at 09:37hrs | 1467 | by Staff reporter

Zimbabwe goes digital in livestock management

The Ministry of Lands, Agriculture, Fisheries, Water and Rural Development has officially launched the National Livestock Stock Card Initiative in Chidziva Village, Bindura, aiming to transform the livestock industry through digital record…

Published: 19 May 2025 at 09:33hrs | 472 | by Staff reporter

Zimbabwe issues dollar bonds to pay ex-farmers for land grabs

Zimbabwe issued treasury bonds worth $308 million and made small cash payments to White farmers who were dispossessed of their property 25 years ago under a state-backed land reform program.The payments are the first under a so-called "Glo…

Published: 12 Apr 2025 at 09:16hrs | 130 | by Staff reporter

US dollar suffocates the ZiG

A liquidity crunch in Zimbabwe is deepening the economy's embrace of the US dollar and undermining the bullion-backed currency introduced by the government almost a year ago.The ZiG, short for Zimbabwe Gold, which began trading on April 8,…

Published: 06 Apr 2025 at 11:38hrs | 3605 | by Staff reporter

Rand crashes past R19 to the dollar under Ramaphosa's watch

The South African rand continued its steep decline on Friday, 4 May, crashing past the R19 mark against the U.S. dollar amid heightened political uncertainty and growing diplomatic tensions with the United States. By mid-morning, the curre…

Published: 05 Apr 2025 at 16:40hrs | 9541 | by Staff reporter

Dumping US dollar 'keeps politics out of economic development'

Boosting trade settlements in national currencies between members of the BRICS group is a strategic necessity, Russian President Vladimir Putin has said, adding that a shift from the US dollar would strengthen financial independence and re…

Published: 22 Oct 2024 at 15:55hrs | 591 | by Staff reporter

Can Zimbabwe ZiG-zag away from the USD?

ZIMBABWE'S economy has suffered immensely since 2008, when inflation exceeded a million percent.Since then, the government has made six attempts to adopt a local currency, with the latest coming in April 2024 through the ZiG. The ZiG is ba…

Published: 13 Sep 2024 at 16:04hrs | 2778 | by Nkosi Moyo

After ditching the dollar, Zimbabwe now rushing for it at a steeper cost

NEARLY five months after changing its currency to arrest inflation, Zimbabwe is back in familiar territory as the new local unit has started losing ground.The problem seems to be based on how the country tried to ditch the US dollar, now r…

Published: 26 Aug 2024 at 08:11hrs | 3929 | by Staff reporter

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 of the US dollar and other foreign curr…

Published: 12 Jul 2024 at 09:46hrs | 58 | by Staff writer

Zimbabwe must end 'dollar grip' to regain economic sovereignty

Zimbabwe must take the necessary steps to end its reliance on the dollar and increase the use of its own currency, Information Secretary Nick Mangwana said."The benefits of de-dollarisation far outweigh the costs, making it an urgent imper…

Published: 12 Jul 2024 at 07:24hrs | 25 | by Staff reporter

Why Zimbabwe should break free from the US dollar's grip

Government Up Close"Normalcy is that a country must have its own currency," President Mnangagwa is on record highlighting this fact.Some people have argued that one of the gravest financial mistakes Zimbabwe made was to put in place a bask…

Published: 11 Jul 2024 at 14:10hrs | 74 | by Nick Mangwana

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 severe currency volatility over the past five y…

Published: 01 Jul 2024 at 08:46hrs | 40 | 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

Bulawayo Poly loses US$ fees war

THE High Court has ordered Bulawayo Polytechnic College to stop charging tuition fees and other levies exclusively in United States dollars.This follows a court challenge filed last month by one of the students, Denford Prosper Gudukani Si…

Published: 21 Feb 2024 at 07:18hrs | 5 | by Staff reporter

Mnangagwa exempts 21 entities from scrutiny

President Emmerson Mnangagwa has exempted  21 public entities from scrutiny in procurement and disposal of assets.The Reserve Bank of Zimbabwe, AFC Commercial Bank, Infrastructure Development Bank of Zimbabwe, TelOne and Kuvimba Minin…

Published: 09 Feb 2024 at 06:58hrs | | 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

'Dollar deals' cripple bars, nightclubs

ILLEGAL alcohol sellers that have sprouted across the city are crippling the business of registered nightclubs and bars while Government has set high standards of operation to bring sanity to the distribution, trends, and patterns in the i…

Published: 16 Jan 2024 at 04:41hrs | 2 | 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

Zimbabwe gazettes use of US dollar to 2030

President Emmerson Mnangagwa has extended the authorization for the use of the US dollar as the official currency until 2030, effectively pushing the initial deadline by an additional five years. This extension was made official through St…

Published: 27 Oct 2023 at 18:40hrs | 4 | by Staff reporter

Biti warns of economic 'disaster' in Zimbabwe

Former finance minister and prominent CCC opposition figure Tendai Biti has issued a stern warning about the potential economic consequences if President Emmerson Mnangagwa's government decides to embrace the BRICS initiative and move away…

Published: 17 Sep 2023 at 22:14hrs | 1 | by Staff reporter

Zimdollar losing grip after months of stability

Since the disputed general election held last month, the Zimbabwean dollar has been gradually depreciating on both the official and parallel forex markets. A day before the harmonized elections on August 23, the official exchange rate was …

Published: 17 Sep 2023 at 08:00hrs | | by Staff reporter

China takes next step in currency globalisation

China's gradual internationalisation of its currency will shift to its next leg on Monday when about two dozen Chinese companies start trading in their home currency in Hong Kong's stock market.Hong Kong stocks such as Alibaba and Tencent …

Published: 19 Jun 2023 at 06:38hrs | 1 | by Staff reporter

Dollarisation key at this juncture

THE instability in the country's macroeconomic environment is a serious cause for concern and solutions should be sought as a matter of urgency.Macroeconomics is a branch of economics that studies how an overall economy behaves, taking int…

Published: 15 Jun 2023 at 06:49hrs | 1 | by Johannes Marisa

Zimdollar tanks

THE official exchange rate at the Reserve Bank of Zimbabwe (RBZ)'s Foreign Exchange Auction System today jumped to US$1: ZWL$1,888 with US$14 million allocated to businesses.Last week, the rate was pegged at $1 404 to the United States dol…

Published: 23 May 2023 at 21:15hrs | 1 | by Staff reporter

Banks use RBZ excuse to dismiss demands for US dollar salary payments

BANK Employers Association of Zimbabwe (BEAZ) has allegedly claimed that the Reserve Bank of Zimbabwe (RBZ) does not allow the payment of US$-denominated salaries as a way to counter mounting pressures from the sector's workers.BEAZ and th…

Published: 12 Feb 2023 at 07:36hrs | 1 | by Staff reporter

Zimdollar haunted by trust issues

Zimbabweans across the country continue to lose trust in the local currency due to the rapid loss of value, meaning it cannot serve as the store of value and medium of exchange.According to the Zimbabwe National Statistics Agency (ZimStat)…

Published: 12 Feb 2023 at 07:20hrs | 3 | by Staff reporter

Billion-dollar loans used to manipulate exchange rate

Fifteen major companies have been creating huge extra profits by borrowing billions of dollars, often from several banks, at concessionary interest rates, stocking up and then selling in US dollars and Zimbabwe dollars using black market e…

Published: 18 Jun 2022 at 07:22hrs | 9 | by Staff reporter

Eddie Cross says Zimbabwe should not dollarise

TOP economist Eddie Cross Monday gave a gloomy image of Zimbabwe's battered economy but maintained dollarising it will destroy the country's re-industrialisation drive. Speaking to NewZimbabwe.com Monday, Cross said although the country's …

Published: 31 May 2022 at 06:35hrs | 12 | by Staff reporter

Govt moves to compensate depositors

MILLIONS of taxpayers' money will be channelled into reimbursing depositors whose United States dollar bank balances were wiped out in 2019 when the Zimbabwe dollar was reintroduced.Finance ministry secretary George Guvamatanga yesterday t…

Published: 10 May 2022 at 07:46hrs | 1 | by Staff reporter

Retailers defy Mnangagwa on pricing

RETAILERS have defied President Emmerson Mnangagwa's directive to adhere to the official interbank rate when pricing goods.On Saturday, Mnangagwa announced a raft of measures aimed at controlling the spiralling inflation, which included a …

Published: 10 May 2022 at 07:46hrs | 1 | by Staff reporter

The death of the Zimbabwe dollar! Where do we go from here?

I am writing from Dubai in the Middle East. One of the admirable qualities of Muslim society is their harsh treatment of malefactors. I was surprised to find that children leave their bicycles outside for the night and there were no police…

Published: 01 May 2022 at 11:19hrs | 1 | by Kenneth Mufuka

Zimbabwe must abandon use of US$ immediately

ECONOMIST Eddie Cross, believes the best way to stabilise the prices of basic goods in the country and spur development is to end the use of the United States dollar in the economy. Speaking on 3Ktv programme, Vantage, Cross suggested that…

Published: 27 Apr 2022 at 12:57hrs | 16 | by Staff reporter

Russia's rouble comes roaring back

The rouble has surged all the way back to where it was before Russia invaded Ukraine, closing at 79,7 in Moscow on Wednesday.In the days after the Ukraine war began, the rouble's collapse was a potent symbol of Russia's newfound financial …

Published: 08 Apr 2022 at 06:40hrs | 1 | by Staff reporter

'Bidenism' has killed dollar dominance?

Time will tell whether Putin wins the sweepstakes of expansionism or the cost of economic distress eventually overwhelms Russia and him. However, some interesting shifts in geo-strategy are discernible and permanent, regardless of whether …

Published: 15 Mar 2022 at 16:09hrs | 11 | by Vaishali Basu Sharma

ZCTU will lobby for US dollar salaries

FLORENCE TARUVINGA (FT), broke the glass ceiling when she was elected Zimbabwe Congress of Trade Unions (ZCTU) president in October, beating Peter Mutasa after polling 73 votes to his 59, thereby becoming the first woman to lead the labour…

Published: 04 Mar 2022 at 06:35hrs | | by Staff reporter

No US$ bonus for nurses

HEALTH professionals have expressed disgruntlement after some of them allegedly received their bonuses in local currency while other civil servants were struggling to access their 13th cheques at local banks yesterday.There were long queue…

Published: 03 Dec 2021 at 05:34hrs | 11 | by Staff reporter

Mashonaland chiefs demand change of title to kings

CHIEFS are lobbying government to urgently change the nomenclature of traditional leaders' titles from chiefs to kings.Chief Zvimba, born Stanley Urayayi Mhondoro, is leading the lobby.He gained prominence earlier this year after decreeing…

Published: 11 Oct 2021 at 06:04hrs | 17 | by Staff reporter

Sibangilizwe Nkomo wins Bulawayo nomination

SIBANGILIZWE Nkomo, the son of the late Zapu founding leader Joshua Nkomo, on Saturday won the Bulawayo nomination to contest for the Zapu party presidency, making him the leading contender.This means that Nkomo now leads the nominations i…

Published: 11 Oct 2021 at 06:03hrs | 10 | by Staff reporter

Violence rocks Zanu-PF Manicaland indaba

CHAOS rocked a Zanu-PF provincial co-ordinating committee (PCC) meeting yesterday after scores of demonstrators, who were calling for the ouster of Manicaland provincial chairman Mike Madiro, were teargassed by police. The demonstrators we…

Published: 11 Oct 2021 at 06:02hrs | 10 | by Staff reporter

Has the Zimbabwe dollar really stabilised against the US unit?

There is a strong debate among economic analysts pertaining to whether the Zimbabwean dollar (ZW$) has stabilised against the American dollar (US$) or not. There is a section which believes that the local unit is currently stable pointing …

Published: 18 Jun 2021 at 13:00hrs | 3 | by Respect Gwenzi

Multi-million dollar whistleblowing corruption scandal rocks Zimra

MASSIVE corruption - which has dragged on for years - is rocking the Zimbabwe Revenue Authority (Zimra)'s multi-million-dollar whistle-blower fund which the tax collector's senior officials are looting in cahoots with a corrupt network of …

Published: 26 May 2021 at 16:23hrs | 17 | by Staff reporter

TNF talks collapse over US dollar wages

Tripartite Negotiating Forum (TNF) engagements have been thrown into disarray following labour's decision to pull out of a crucial meeting recently, as the standoff over minimum wages intensified.The TNF brings together government, busines…

Published: 02 May 2021 at 09:32hrs | 3 | by Staff reporter

Can the South African Rand Hold its Position Against the Greenback?

The South African rand remains one of the poster boys for emerging currencies across the globe, and like many of its contemporaries it has experienced a highly turbulent 2020.For example, the rand was one of numerous emerging currencies to…

Published: 22 Dec 2020 at 17:22hrs | 20 | by Staff writer

'We need more Zimdollar than US$'

UNITED Refineries Limited (URL) chief executive officer, Mr Busisa Moyo says the Bulawayo headquartered agro-processing company needs more of the local dollar to localise production of key raw materials and be able to feed its plant to ful…

Published: 30 Oct 2020 at 06:19hrs | 10 | by Staff reporter

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President Mnangagwa must respect the constitution

Background remover for corporate videos that impress clients

All is set for CGAIZ annual conference in Victoria Falls

US Senate tables second bill targeting South Africa

Mnangagwa confirms ZANU-PF corrupt, amid own schemes looting spree

You can leave the ghetto, but you can't remove the ghetto inside - Same with apartheid

Geza's worthlessness is no mystery

Mnangagwa appoints new ambassadors

Zanu-PF Politburo meets amid growing succession tensions

South African justice system faces 'total collapse'

Woman jailed for stabbing hubby's girlfriend

Charamba storms into World Championships 200m semi-finals

SA soldiers, Zimbabweans arrested over cigarette

ANC councillors reject Ramaphosa's call to follow DA

Irrigation schemes remain severely underutilised

Zanu-PF top brass trapped with cash, cars

Scott Sakupwanya gives Simba Bhora US$100,000

ZANU-PF official jailed for stealing

Maswerasei blasts Chamisa

Hwange Power Station's older units to undergo major rehab

Principal arrested for indecent assault of students

Zimra employees accused of US$6.3 million fraud

Ruwa aims for town status

Zanu-PF youths die en route to Mnangagwa's birthday bash

Zimbabwe clinches historic T20I series win

Harare suburb battles severe sewage crisis

Chirumanzu chieftainship dispute intensifies

Churches pray for Mnangagwa's continued rule

Church commits to partnering govt in anti-drugs, substances abuse

Ex-Bosso CEO found guilty of US$2,000 fraud

Mnangagwa confirms ZANU-PF corrupt, amid own schemes looting spree

President Mnangagwa must respect the constitution

US Senate tables second bill targeting South Africa

Geza's worthlessness is no mystery

Mnangagwa appoints new ambassadors

You can leave the ghetto, but you can't remove the ghetto inside - Same with apartheid

SA soldiers, Zimbabweans arrested over cigarette

Woman jailed for stabbing hubby's girlfriend

Zimbabwean man fatally attacked by elephant in South Africa

US lawmaker pushes Zimbabwe to repay white farmers

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