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Zimbabwe to use gold to back its currency
Zimbabwe is working on new measures to stabilise its local currency including linking the exchange rate to hard assets such as gold and creating a currency board, Finance Minister Mthuli Ncube said on...Published: 12 Feb 2024 at 11:31hrs | 1 | by Staff reporter
Another plan to rescue Zimdollar
ZIMBABWE is considering overhauling its exchangerate regime as the government seeks new measures to save its beleaguered currency.The latest proposals will be in a monetary policy statement th...Published: 11 Feb 2024 at 21:07hrs | | by Staff reporter
Zimbabwe orders lithium miners to submit refinery plans by March 2024
Zimbabwe has given lithium miners up to March 2024 to submit plans for the local production of battery-grade lithium in a bid to benefit from growing demand for the clean energy mineral, Finance Minis...Published: 30 Nov 2023 at 21:09hrs | 8 | by Staff reporter
Zimbabwe now one of the fastest growing African economies
ANALYSING Zimbabwe's unconventional economy always proves somewhat cumbersome because it is a country bridled with policy inconsistency, unfavourable operating conditions buoyed by decades of unilater...Published: 02 Dec 2022 at 19:32hrs | | by Respect Gwenzi
Zimbabwe's central bank widens probe into city councils charging in US dollars
Zimbabwe's central bank widened its probe into city councils charging for services in US dollars, after freezing the accounts of the capital over the practice.The bank's Financial Intelligence...Published: 14 Sep 2022 at 05:58hrs | | by Staff reporter
Zimbabwe is best investment destination, claims Implats
South Africa's Impala Platinum Holdings (Implats) has described Zimbabwe as the best investment jurisdiction due to its predictable and supportive operating environment, which has allowed its investme...Published: 08 Apr 2022 at 06:42hrs | 1 | by Staff reporter
Zimbabwe edges closer to US$12bn target?
Government and private sector players in the mining industry are resolute in their commitments towards achieving the US$12 billion by 2023.Zimbabwe launched the Strategic Road to the Achieveme...Published: 03 Jan 2022 at 05:53hrs | 11 | by Staff reporter
Zimbabwe sugar giant clinches Coca-Cola deal
THE aggressively rebounding sugar manufacturing conglomerate, starafrica corporation Limited, says it plans to scale up its African ambition after clinching a landmark deal to export into The Coca-Col...Published: 25 Jul 2021 at 08:19hrs | 1 | by Staff reporter
Raw minerals dominate Zimbabwe's exports
RAW minerals continue to dominate Zimbabwe's export list amid calls by experts for the government to expedite value addition and beneficiation of the precious commodities.The Reserve Bank of Z...Published: 03 Jul 2021 at 21:31hrs | 2 | by Staff reporter
Govt to ban firms from forex auctions over 'rampant abuse'
ZIMBABWE has threatened to ban traders from the country's foreign-exchange auction platform for exploiting the gap between black-market and official currency prices.Authorities are dealing wit...Published: 06 Jun 2021 at 17:48hrs | | by Bloomberg
Zimbabwe maintains 7.4% growth target
Zimbabwe's Treasury is sticking to its economic growth estimate of 7.4%, even after the nation's president said the projection would have to be lowered.The forecast is achievable after the cou...Published: 20 Apr 2021 at 18:00hrs | | by Staff reporter
Zimbabwe record its fourth straight trade monthly surplus
Zimbabwe recorded its fourth straight trade monthly surplus in November as Finance Minister Mthuli Ncube's steps to devalue and stabilize the local currency started showing some positive results for e...Published: 13 Jan 2021 at 18:22hrs | | by Staff reporter
How to kill a country
Nearly forty years ago Ian Smith, the Prime Minister of Rhodesia, became the first and only white colonial ruler to break away from the British Crown. He had tired of London's nagging about the subjug...Published: 13 Jan 2021 at 16:49hrs | 2 | by Samantha Power
Power tariff hike gives Zesa headstart
Finance and Economic Development Minister Professor Mthuli Ncube last week announced an interim tariff framework meant to support Zesa's operations.But will the new tariff(s) address the cripp...Published: 04 Aug 2019 at 10:06hrs | | by Staff reporter
Mthuli Ncube could hike rates over 50% to deal with speculators
Zimbabwe won't hesitate to raise interest rates above their current level of 50 percent to deal with speculative borrowers, Finance Minister Mthuli Ncube said on Monday.As inflation soared, th...Published: 10 Jul 2019 at 21:57hrs | | by Reuters
Introduction of Zimdollar a disaster
A major economic highlight of the week was the confirmation by the President Emmerson Mnangagwa that Zimbabwe will re-introduce a local currency before year-end. It is our view that our country is not...Published: 21 Jun 2019 at 07:48hrs | | by Dr Chitambara
Zimbabwe in austerity-induced recession
"OUTPUT in Zimbabwe is expected to contract in 2019 with a sharp rise in inflation reducing real incomes and foreign exchange shortages constraining activity," the World Bank reports in its Global Eco...Published: 14 Jun 2019 at 08:22hrs | 5 | by Tinashe Kaduwo
South Africa's credit ratings remains at 'junk status'
Standard and Poor's Global Ratings kept South Africa's foreign- and local-currency credit ratings in "junk" territory with a stable outlook late on Friday, saying the new government was expected to fo...Published: 30 May 2019 at 07:59hrs | 4 | by Staff reporter
Trafigura give Zimbabwe more time to pay for fuel
Zimbabwe has reached flexible payment arrangements with some fuel importers that will ensure it stabilises supplies amid a foreign-currency shortage that threatens economic growth.The governme...Published: 07 Jan 2019 at 09:07hrs | | by Bloomberg
Tesla pfee in Zimbabwe
Among the many vehicles Zimbabweans have been importing is the country's first Tesla electric vehicle, a model X automobile that has sparked debates on social media. Zimbabweans have taken to ...Published: 20 Oct 2018 at 20:22hrs | 2 | by Staff reporter
Brands and stores affected by Edcon's new recovery plan
Edcon Holdings' latest recovery plan includes closing chains including Red Square cosmetics and La Senza lingerie and attempting to lure their customers to its flagship Edgars clothing stores....Published: 05 Jul 2018 at 12:41hrs | | by Bloomberg
ABSA bank set to seize James Makamba's mansion
Top Mugabe ally owes Absa $4.5-million for home loan, credit cards and car paymentsJames Makamba's sprawling Johannesburg property could soon be confiscated by Absa bank to recover a $4.5-mill...Published: 11 Jun 2018 at 11:40hrs | | by Staff reporter
Fitch downgrades SA to junk status
Cape Town - Fitch Ratings downgraded South Africa's unsecured foreign-currency and local-currency bonds to non-investment grade - commonly known as junk status - on Friday.It is the second...Published: 07 Apr 2017 at 13:05hrs | | by Staff reporter
Zuma's hand strengthened in battle with banks and white monopoly capital
A finding by the Competition Commission that more than a dozen local and international banks colluded to rig foreign-currency trades will bolster government accusations that the nation's biggest l...Published: 20 Feb 2017 at 07:45hrs | | by Staff reporter
'Too early to bring back the Zimdollar'
THE slowdown of the economy characterised by lack of liquidity and collapsing industries has renewed debate over the re-introduction of the Zimbabwe dollar. Some analysts are of the ...Published: 27 Oct 2013 at 07:37hrs | | by Staff reporter
Mugabe's Zanu-PF influencing Malema, says ANC
Gwede Mantashe, secretary-general of South Africa's ruling African National Congress, said President Robert Mugabe's Zanu-PF is influencing the policies of expelled youth leader, Julius Malema....Published: 29 Jul 2013 at 14:04hrs | 1 | by Staff reporter
Bogus policeman beaten up by two women (osiphatheleni) in broad daylight
A Bulawayo fake policeman was on Monday given a thorough hiding after attacking two illegal female foreign currency dealers (osiphatheleni).The incide...Published: 05 Dec 2011 at 20:32hrs | | by Staff reporter
The American Gov's dollar reign is near an end
The single most astonishing fact about foreign exchange is not the high volume of transactions, as incredible as that growth has been. Nor is it the volatility of currency rates, a...Published: 03 Mar 2011 at 10:12hrs | | by Barry Eichengreen
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