Search / Multi-currency system
Delta Corporation slams Zimra over uncertainties
Zimbabwe's largest beverage manufacturer, Delta Corporation Limited, has accused the country's tax authorities of fueling business uncertainty through what it described as the arbitrary creation of le...Published: 07 Jul 2025 at 08:47hrs | 369 | by Staff reporter
Mozambican vendors invade Zimbabwe
On January 2, 2025, 18-year-old Castigo Quembo from Matazi village near Manica in Mozambique left home and crossed into Zimbabwe through an illegal entry point close to the Machipanda-Forbes Border Po...Published: 06 Jul 2025 at 12:35hrs | 2126 | by Staff reporter
Nurses clash with Parirenyatwa over US$150 graduation fee
A storm is brewing at Parirenyatwa Group of Hospitals as graduate nurses demand clarity and flexibility over a mandatory US$150 graduation and administration fee - insisting that being forced to pay i...Published: 03 Jun 2025 at 09:25hrs | 356 | by Staff reporter
Zimbabwe targets 2030 to clear US$21 billion debt
Zimbabwe has set an ambitious 2030 deadline to clear its ballooning US$21 billion public debt, in a bid to create the foundations for a stable mono-currency regime anchored by the Zimbabwe Gold (ZiG) ...Published: 19 May 2025 at 09:21hrs | 126 | by Staff reporter
Government investigating defiant school heads
The Ministry of Primary and Secondary Education has launched a crackdown on school heads who defied a government directive barring the expulsion of learners over unpaid fees, insisting that schools mu...Published: 17 May 2025 at 12:16hrs | 100 | 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...Published: 06 Apr 2025 at 11:38hrs | 3604 | by Staff reporter
Zimbabwe fast-tracking ZiG banknotes rollout
The Reserve Bank of Zimbabwe (RBZ) is accelerating efforts to deliver new Zimbabwe Gold (ZiG) banknotes, with Governor Dr John Mushayavanhu assuring the public that the rollout will happen "in the sho...Published: 06 Apr 2025 at 11:28hrs | 1071 | by Staff reporter
Zimbabwe struggles to promote ZiG
THE Zimbabwean government faces challenges in promoting the Zimbabwe Gold (ZiG) currency for financial stability, as some businesses remain reluctant to accept it, preferring the U.S. dollar, which re...Published: 08 Feb 2025 at 12:52hrs | 584 | by Staff reporter
Mnangagwa's govt accused of Intellectual Property theft
Zimbabwe's government is embroiled in a heated dispute with Time Bank after the financial institution accused authorities of infringing on its intellectual property rights. The bank claims that govern...Published: 01 Feb 2025 at 14:03hrs | 2046 | by Staff reporter
Zimbabwe's resilience: A nation's ability to overcome economic challenges, from sanctions to currency instability
For over two decades, Zimbabwe has been a nation under siege. Economic sanctions, imposed primarily by the United States and its Western allies, have crippled the country's economy, creating one of th...Published: 18 Oct 2024 at 11:56hrs | 169 | by Michael Badze
Zimbabwe retailers make a case for multi-currency continuation
Retailers in Zimbabwe have urged the Reserve Bank of Zimbabwe (RBZ) to extend the multi-currency regime as official policy until 2030, warning that any abrupt move towards full dollarisation could sev...Published: 07 Oct 2024 at 07:52hrs | 1042 | by Staff reporter
Zimbabwe's government: The biggest threat to its own currency
The Reserve Bank of Zimbabwe's (RBZ) recent decision to devalue the Zimbabwean Gold (ZiG) by 50% has left the nation reeling. Overnight, the currency's value plummeted from 14 to 23.4 against ...Published: 29 Sep 2024 at 15:25hrs | 3372 | by Tendai Ruben Mbofana
Currency crisis piles more misery on fragile Zimbabwe economy
Leading economists have raised concerns over the potential economic impact of the recent waves of price hikes and currency volatility, which threaten to further destabilize an already fragile economy....Published: 20 Sep 2024 at 13:12hrs | 3500 | by Staff reporter
Zanu-PF panics over ZiG collapse
ZANU-PF spokesperson Christopher Mutsvangwa has expressed alarm over the devaluation of the Zimbabwe Gold currency (ZWG) and is urging President Emmerson Mnangagwa to take decisive action. Mutsvangwa ...Published: 13 Sep 2024 at 08:12hrs | 3503 | by Staff reporter
Teacher arrested while trying to convert ZiG to US$
Albert Nyambara, a teacher from Marondera who was arrested for attempting to convert his local currency, ZiG, salary into United States dollars, has been summoned to appear at the Marondera Magistrate...Published: 06 Sep 2024 at 17:14hrs | 1855 | by Staff reporter
Zimbabwe central bank dragged to court over forex
Linda Tsungirirai Masarira has filed an urgent High Court application against the Reserve Bank of Zimbabwe (RBZ), alleging that ordinary citizens are being unfairly constrained in accessing foreign cu...Published: 21 Jun 2024 at 11:30hrs | 19 | by Staff reporter
Zimbabwe rated Africa's most expensive economy
Zimbabwe was recently identified as Africa's most expensive country according to a comprehensive study by the African Development Bank (AfDB). The study assessed power purchasing parities (PPPs) and e...Published: 15 Jun 2024 at 11:13hrs | 72 | 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 | 3 | 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 | 19 | 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 | 3 | 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 | 4 | 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 | 3 | 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 | 6 | 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 | 29 | by Staff reporter
Zimbabwe Abandons Weakened Dollar for Gold-Linked Currency
Reserve Bank of Zimbabwe (RBZ) Governor Dr. John Mushayavanhu unveiled the 2024 Monetary Policy Statement (MPS) this afternoon, outlining a comprehensive plan to stabilize the nation's currency. The p...Published: 05 Apr 2024 at 13:28hrs | 121 | 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 | 2 | by Staff reporter
American economist wants Professor Mthuli Ncube to resign
American economist Steve Hanke has called for Finance Minister Mthuli Ncube to step down and acknowledge his failure in addressing Zimbabwe's economic woes.Hanke's remarks come in light of Zim...Published: 27 Feb 2024 at 04:48hrs | 3 | by Staff reporter
'Zimbabwe inflation rate at 747%'
ZIMBABWE'S annual inflation could be over 20 times higher than the official rate of 34,8%, an independent advisory estimated this week, as it gave glimpses into fundamentals behind deeper turbulence c...Published: 16 Feb 2024 at 15:22hrs | 2 | by Staff reporter
Delta Loss control manager demands USD from clients
Delta Beverages, a prominent brewery, has purportedly initiated a demand for payments in foreign currency for its product range within Mashonaland Central province. This action unfolds against a backd...Published: 04 Nov 2023 at 12:18hrs | 72 | by Simbarashe Sithole
'Zimbabwe's hastened currency shift won't end lending crisis'
Economists suggest that the recent issuance of a Statutory Instrument (SI) extending the use of multiple currencies in Zimbabwe until 2030 may have revealed the extent of President Emmerson Mnangagwa'...Published: 03 Nov 2023 at 14:55hrs | 13 | by Staff reporter
Bulawayo City Council proposes US$263 million budget
BULAWAYO City Council (BCC) yesterday proposed a standstill US$263 million gender-responsive budget for next year while prioritising service delivery and predicting a stable economic environment in 20...Published: 31 Oct 2023 at 05:37hrs | 11 | by Staff reporter
Zimbabwe retailers index prices in USD
The foreign currency exchange rate system implemented by the Reserve Bank of Zimbabwe (RBZ) mandates that prices must be displayed in both local currency and foreign currency. Retailers are required t...Published: 31 Oct 2023 at 05:37hrs | 2 | by Staff reporte
'Zimbabwe to revert to local currency'
President Mnangagwa has declared that Zimbabwe is poised to shift back to employing its local currency as the exclusive legal tender, abolishing the multi-currency system. He underlined the significan...Published: 13 Oct 2023 at 06:24hrs | | by Staff reporter
Mnangagwa reiterates call for mono-currency
President Mnangagwa has announced that Zimbabwe will transition back to using its local currency as the exclusive legal tender, discontinuing the multi-currency system. He emphasized that a country's ...Published: 13 Oct 2023 at 06:12hrs | 4 | by Staff reporter
Zimbabwe-listed companies get leeway to report financials in US dollars
Zimbabwean companies listed on the stock exchange are now permitted to present their financial statements in US dollars due to the swift dollarization of the economy. The CEO of the Zimbabwe Stock Exc...Published: 12 Oct 2023 at 18:21hrs | 7 | by Staff reporter
Mnangagwa's son says Zimbabwe banks no longer offering funding beyond 2025
Deputy Minister David Mnangagwa, responsible for Finance and Investment Promotion, has revealed that banks are no longer extending long-term funding options beyond 2025, coinciding with the planned co...Published: 09 Oct 2023 at 19:26hrs | 1 | 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 emb...Published: 17 Sep 2023 at 22:14hrs | 1 | 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 | 10 | by Staff reporter
Zimdollar remains the sole legal tender
THE Government has reiterated that the Zimbabwe dollar remains the sole legal tender and nothing can be billed exclusively in foreign currency without special exemption.This follows the contin...Published: 05 Jul 2023 at 07:14hrs | 26 | by Staff reporter
'US dollar appetite cannot be satisfied in Zimbabwe'
WHILE Zimbabwe has enough foreign currency, the country's major challenge is not money supply but liquidity because a small percentage of the population has foreign currency while the generality of ci...Published: 20 Jun 2023 at 06:49hrs | | by Staff reporter
Retailers defy Mnangagwa's government
SOME big supermarkets in Bulawayo are now exclusively charging certain goods and products in foreign currency and using the black-market rate for currency conversions in defiance of Government monetar...Published: 15 Jun 2023 at 06:44hrs | 1 | by Staff reporter
'Zimbabwe has no capacity for full dollarisation'
RESERVE Bank of Zimbabwe (RBZ) Governor, Dr John Mangudya, has urged Zimbabweans to embrace the local currency saying the country has no capacity to sustain a fully dollarised economy.While th...Published: 02 Jun 2023 at 06:42hrs | 1 | by Staff reporter
Zimbabwe govt departments warned for dumping Zimdollar
Finance and Economic Development secretary George Guvamatanga has warned government departments to desist from giving preference to clients paying for services in US dollars as opposed to local curren...Published: 29 May 2023 at 06:43hrs | | by Staff reporter
Biti takes dig at Mthuli Ncube
FORMER Finance minister Tendai Biti has taken a dig at current Treasury boss Mthuli Ncube over the free-falling local currency."There is rampant rejection of the local currency in the market,"...Published: 10 May 2023 at 06:02hrs | 1 | by Staff reporter
Salary dispute threatens schools opening
OPENING of schools for the second term next week is in jeopardy after teachers warned of disruptions if their salary dispute with government remains unresolved.Teachers are demanding a minimum...Published: 01 May 2023 at 08:09hrs | 3 | 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 | 4 | 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 school headmasters face the sack over illegal fees hikes
HEADS of Government schools who defy laid down guidelines in hiking fees will be deemed to have committed acts of misconduct and will be liable to disciplinary action, which may include dismissal, whi...Published: 13 Jan 2023 at 05:45hrs | 7 | by Staff reporter
Stern warning for errant schools
Zanu-PF has expressed concern over the deaths of pupils in schools, extra lessons, and the charging of exorbitant fees including some exclusively in foreign currency.This is contained in the p...Published: 31 Oct 2022 at 04:50hrs | 2 | by Staff reporter
Kangai's bid for NetOne severance package rejected by court
SPIRITED efforts by former NetOne chief executive officer Reward Kangai (pictured) to get his severance package have been further delayed after the High Court dismissed his application in which he sou...Published: 14 Sep 2022 at 06:07hrs | 2 | by Staff reporter
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