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Gold Backed Currency vs Dollarisation: Lessons from Zimbabwe's New ZiG
Since April 2024, Zimbabwe has started a new monetary policy by introducing a gold-backed currency known as the Zimbabwe Gold (ZiG), to get rid of its reliance on the U.S. dollar. In t...Published: 03 Aug 2025 at 23:27hrs | 454 | by Staff Reporter
Zimbabwe Chamber of Mines optimistic about 100 tonnes gold target
The Chamber of Mines Zimbabwe (CoMZ) has expressed confidence that the country can meet the Government's ambitious annual gold production target of 100 tonnes, despite the current national target stan...Published: 05 Jun 2025 at 10:03hrs | 128 | by Staff reporter
Ghana orders foreigners to exit gold market by April 30
Ghana has ordered foreigners to exit its gold trading market by the end of the month, a new government body said on Monday, as the West African country looks to streamline gold purchases from small-sc...Published: 15 Apr 2025 at 08:33hrs | 296 | by Staff reporter
Zimbabwe's 2024 foreign currency receipts top US$13bn
Zimbabwe's foreign currency inflows grew by 21 percent in 2024, reaching US$13.3 billion compared to US$11 billion in 2023, driven primarily by an increase in export proceeds, according to the Reserve...Published: 12 Feb 2025 at 06:35hrs | 261 | by Staff reporter
Shunned by the West, Zimbabwe's UAE gamble hands economy a lifeline
Zimbabwean President Emmerson Mnangagwa's six years of wooing the United Arab Emirates has given a lifeline to a nation that the West has ostracised for a quarter century and is unable to repay its lo...Published: 06 Feb 2025 at 09:12hrs | 1321 | by Staff reporter
Industrial applications of Gold Nanotechnology and their trading potential
The intersection of gold with nanotechnology is opening up new frontiers in various industrial sectors. Gold nanotechnology involves the use of gold nanoparticles, which are particles of gold that are...Published: 14 Dec 2023 at 09:10hrs | 34 | by Staff Reporter
Zimbabwe gold-backed tokens enter market
Zimbabwe Gold (ZiG), the digital tokens backed by gold, has gained approval as a legitimate means of payment for domestic transactions, effective immediately. Transactions involving ZiG will be proces...Published: 06 Oct 2023 at 06:32hrs | 3 | by Staff reporter
Gold tokens to become medium of exchange in Zimbabwe
THE Reserve Bank of Zimbabwe (RBZ) is finalising the modalities of rolling out the gold-backed digital tokens as a medium of exchange for domestic transactions to complement the US dollars, Governor D...Published: 10 Aug 2023 at 06:43hrs | 12 | 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 | 19 | 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 | 17 | by Martin Majaji
Why RBZ introduced the Gold-backed digital currency
With the local currency on a free-fall and Zimbabwe already a digital economy, ninety six percent of our transactions traded on digital platforms. The digital currency was long overdue. Zimbabwe is on...Published: 29 Apr 2023 at 07:07hrs | 4 | by Jacob Kudzayi Mutisi
Looting fears mount in Zimbabwe
ZIMBABWE'S gold markets were overrun this week by fears that the recently announced steep increase of 400% in gold dealing licence fees would result in a sharp rise in smuggling of the precious ...Published: 24 Mar 2023 at 06:29hrs | 1 | by Staff reporter
Mnangagwa govt okays US$ school fees
GOVERNMENT has given greenlight for schools to charge fees in United States (US) dollars, leading to calls for formal dollarisation as the majority of the country's workforce earn in Zimbabwe dollars....Published: 06 Aug 2022 at 19:26hrs | 81 | by Staff reporter
Zimbabwe inflation on downward spiral?
The introduction of gold coins and a review of payment methods for suppliers of goods and services, particularly those undertaking major national infrastructure projects, is expected to see a decline ...Published: 02 Aug 2022 at 06:42hrs | | by Staff reporter
Dubai Zimbabwe's second-largest gold market
THE United Arab Emirates (UAE) has consolidated its position as Zimbabwe's second-largest export destination as gold shipments to the region continue to grow, a new report by the country's statistical...Published: 21 Jun 2022 at 15:24hrs | 23 | by Staff reporter
Zimbabwean illegal miners wreak havoc in Botswana, SA
To the residents of Matsiloje in northern Botswana, no foreigner is unwelcome unless they commit a crime.This is due to their own lives being deeply linked with their fellow clan members in Zi...Published: 12 Jun 2022 at 09:24hrs | 30 | by Staff reporter
Tagwirei linked companies cited in US$49m privatisation deal
AS Treasury maintains a tight lid over the identity of gold producers who snapped 60% shareholding in Fidelity Printers and Refiners (FPR), emerging details show that Kuvimba Mining House, Better Bran...Published: 20 Aug 2021 at 07:22hrs | 1 | by Staff reporter
Security forces deep in gold smuggling: Report
MEMBERS of the security forces and Reserve Bank of Zimbabwe (RBZ) officials tasked to maintain order and security in the mining sector have been accused of the smuggling of the precious mineral outsid...Published: 11 Jun 2021 at 06:38hrs | 12 | by Staff reporter
'Chinese influential players in Zimbabwe illicit gold trade' - why not, milking their colony to death
"Chinese Now Influential Players In Illicit Gold Trade: Study!" screamed the headlines in New Zimbabwe."The presence and influence of Chinese nationals in the Zimbabwe gold sector has signific...Published: 08 Jun 2021 at 17:16hrs | | by Patrick Guramatunhu
Chinese now influential players in illicit gold trade study
CHINESE nationals are now "prominent and influential actors" in Zimbabwe's lucrative gold sector and have formed questionable partnerships with the elite in Zanu-PF and senior law enforcement agents....Published: 08 Jun 2021 at 06:26hrs | 4 | by Staff reporter
Gold smuggling syndicates exposed
A new report has illustrated the depth of the gold smuggling scourge in Zimbabwe, estimating that over 70% of the country's output has found its way into backstage international markets.Titled...Published: 30 May 2021 at 08:45hrs | 1 | by Staff reporter
Gold deliveries plunge 61%
Gold deliveries plunged by more than half to 0.99 tonnes in January from 2.54 tonnes recorded in the same month last year weighed down by heavy rains which slowed mining activity, Fidelity Printers an...Published: 12 Feb 2021 at 05:54hrs | 1 | by Staff reporter
Mnangagwa, Chiwenga, SB Moyo wrestle for Zim gold sector control
PRESIDENT Emmerson Mnangagwa, his deputy Constantino Chiwenga and Foreign Affairs Minister Sibusiso Moyo, locked in a vicious duel to wrest and consolidate state power, are manoeuvring to control the ...Published: 27 Nov 2020 at 07:18hrs | 3 | by Staff reporter
Gold export earnings drop
ZIMBABWE'S gold export earnings decreased by 32,9 percent to US$500 million in the first half of this year compared to about US$670 million recorded in the same period last year. Speaking duri...Published: 02 Aug 2019 at 07:48hrs | 1 | by Staff reporter
RBZ rejects gold miners' demand
ZIMBABWE is not in a position to liberalise domestic gold marketing and buying as this will negatively affect the flow of foreign currency into the economy, Reserve Bank of Zimbabwe (RBZ) deputy gover...Published: 11 Jun 2019 at 07:03hrs | 1 | by Staff reporter
Zimbabwe eyes rejoining London Bullion Market
Zimbabwe is targeting to upscale its engagement for re-accreditation into the London Bullion Market this year as the government seeks to optimize earnings from gold by participating on a global market...Published: 19 Jan 2019 at 19:06hrs | | by Staff reporter
Zimbabwe earns US$381m from gold exports
ZIMBABWE earned US$381 million in the first half of the year from gold exports after large and small-scale miners delivered 9,6 tonnes of the precious metal to Fidelity Printers and Refiners (FPR), wh...Published: 30 Jul 2016 at 23:20hrs | 1 | by Staff Reporter
Zimbabwe gold production surpasses target
THE country's gold production leapt 33,8 percent to 18,6 tonnes in 2015 from a year earlier, helping surpass the targeted output by more than 2 tonnes, official statistics show.The sector had ...Published: 24 Jan 2016 at 05:50hrs | 3 | by Staff reporter
International media lied (propaganda) as Gaddafi's son re-emerges
The son and heir apparent of Libyan leader Muammar Gaddafi, Saif al-Islam, resurfaced free and defiant early today a day after rebels claimed to have captured him, boasting in a bizarre reappearance...Published: 23 Aug 2011 at 04:43hrs | 1 | by Staff reporter
Gold will likely surge past $1600 per ounce
London - Record-breaking gold will likely surge past $1 600 per ounce for the first time later this year, driven by fears over high inflation and low global interest rates, consultancy GFMS fore...Published: 14 Apr 2011 at 05:11hrs | 1 | by Byo24News
Zimbabwe gold output expected to hit new peak
ZIMBABWE’S gold output is projected to surpass its all-time peak reached in 2009, a five-year forecast by the Chamber of Mines has said, indicating that production would be sus...Published: 08 Apr 2011 at 16:22hrs | | by Byo24News
Join in the Gold Rush
The price of gold has increased rapidly over the last decade, allowing the yellow metal to break out of its sticky trading range of US$200/oz – US$400/oz experienced during the...Published: 23 Feb 2011 at 12:08hrs | | by Byo24News
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