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Ecocash loses ZWG 148,7 million in conversion to new currency
Ecocash Holdings Zimbabwe Limited, a leading diversified digital solutions group, has reported a loss of ZWG 148.7 million following the transition to the newly introduced ZWG currency, which was intr...Published: 16 hrs ago | 679 | by Staff reporter
Zimbabwe govt sinks in deep financial hole
The recent 43% devaluation of Zimbabwe's Zimbabwe Gold (ZiG) currency has exacerbated the government's financial crisis, leaving it struggling to meet its obligations while civil servants and other pu...Published: 19 Nov 2024 at 13:38hrs | 6819 | by Staff reporter
Confidence in Zimbabwe gold currency hits historic low
Confidence in the Zimbabwe Gold (ZiG) currency has dropped to an all-time low, a member of the Reserve Bank of Zimbabwe (RBZ) Monetary Policy Committee has admitted.Introduced in April this ye...Published: 14 Nov 2024 at 09:52hrs | 1780 | by Staff reporter
Top Bank executive slams RBZ tight policy measures
A prominent banking executive has criticized the Reserve Bank of Zimbabwe (RBZ) for focusing too heavily on exchange rate stability at the cost of economic growth, warning that the central bank's rece...Published: 10 Nov 2024 at 11:05hrs | 1826 | by Staff reporter
Zimbabwe foreign currency reserves rise to US$500m
Zimbabwe's foreign currency reserves backing its local currency, the Zimbabwe Gold (ZiG), have surged past US$500 million, tripling the total amount of ZiG in circulation. This development is expected...Published: 10 Nov 2024 at 10:41hrs | 170 | by Staff reporter
RBZ hikes limits for mobile money and electronic transactions
Zimbabwe's Reserve Bank (RBZ) has announced an increase in transaction limits for mobile money and electronic transfers, a move aimed at addressing the challenges posed by rising inflation and fluctua...Published: 02 Nov 2024 at 08:49hrs | 5599 | by Staff reporter
Management shake up at RBZ
The Reserve Bank of Zimbabwe (RBZ) is initiating a significant remodelling of its management structure as newly appointed Governor John Mushayavanhu aims to assemble a capable team to address the coun...Published: 01 Nov 2024 at 06:48hrs | 2518 | by Staff reporter
'Sovereignty ego maintaining Zimbabwe's ailing ZiG'
Zimbabwe is facing a profound economic crisis largely rooted in its insistence on maintaining currency sovereignty, even as the nation clings to a failing local currency, experts warn. Nkanyezi Ndlovu...Published: 30 Oct 2024 at 10:36hrs | 891 | by Staff reporter
Zanu-PF pushes for accelerated de-dolarisation
The ruling Zanu-PF party has resolved to accelerate Zimbabwe's de-dollarisation process and strengthen the Zimbabwe Gold Currency (ZiG) as the country's sole legal tender. This decision was among key ...Published: 29 Oct 2024 at 13:50hrs | 3978 | by Staff reporter
Devaluation fails to halt ZiG free-fall
Zimbabwe's new local currency, the Zimbabwe Gold (ZiG), has taken another hit, losing an additional 11% of its value in under a month following a substantial 43% "devaluation" announced by monetary au...Published: 29 Oct 2024 at 13:49hrs | 4502 | by Staff reporter
RBZ rubbishes Chamisa lawyer's claims on ZiG
The Reserve Bank of Zimbabwe (RBZ) has reaffirmed that the Zimbabwe Gold (ZiG) currency remains the country's legal tender, dismissing speculation that it had expired following the lapse of Statutory ...Published: 29 Oct 2024 at 07:25hrs | 354 | by Staff reporter
ZiG remains fully legal and operational, says RBZ
The Reserve Bank of Zimbabwe (RBZ) has reassured the public that the Zimbabwe Gold (ZiG) currency remains fully legal and operational, dismissing concerns about potential regulatory gaps. This clarifi...Published: 28 Oct 2024 at 17:12hrs | 1028 | by Staff reporter
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 | 3191 | by Staff reporter
RBZ pumps US$32 million into market
The Reserve Bank of Zimbabwe (RBZ) has infused approximately US$32 million into the interbank foreign exchange market over the past three weeks to stabilize the Zimbabwe Gold (ZiG) currency and addres...Published: 27 Oct 2024 at 12:19hrs | 155 | by Staff reporter
ZiG inflation rate now pegged at 37.2%
Zimbabwe's inflation rate for the Zimbabwe Gold (ZWG) currency surged to 37.2% in October, according to the latest data from the Zimbabwe National Statistics Agency (Zimstat). This sharp increase, ref...Published: 26 Oct 2024 at 12:48hrs | 296 | by Staff reporter
Gono company loss case continues
A key witness in the ongoing fraud trial involving a Harare couple accused of defrauding former Reserve Bank of Zimbabwe (RBZ) governor Gideon Gono has stated that Gono should be summoned to court to ...Published: 26 Oct 2024 at 12:42hrs | 68 | by Staff reporter
Zimbabwe needs alternative to US$
Persistence Gwanyanya, a member of the Reserve Bank of Zimbabwe's (RBZ) Monetary Policy Committee, has underscored the urgent need for alternatives to the US dollar as a store of value, highlighting c...Published: 25 Oct 2024 at 14:40hrs | 564 | by Staff reporter
'ZiG must go'
The Zimbabwe Gold (ZiG) currency is facing mounting pressure from the business community, which is advocating for its removal due to increasing volatility, despite the Reserve Bank of Zimbabwe's (RBZ)...Published: 24 Oct 2024 at 08:02hrs | 2201 | by Staff reporter
Nkomo blasts Zanu-PF over policy confusion
Zapu leader Sibangilizwe Nkomo has blasted Zanu PF government over policy which he blamed for economic quagmire in the country.In...Published: 22 Oct 2024 at 07:21hrs | 567 | by Stephen Jakes
Potraz approves tariff increase for Zimbabwe telecoms sector
The Postal and Telecommunications Regulatory Authority of Zimbabwe (Potraz) has approved a tariff adjustment for local telecommunications companies in response to the recent devaluation of the Zimbabw...Published: 21 Oct 2024 at 14:01hrs | 1715 | by Staff reporter
Is Zimbabwe about to create land oligarchs?
The government, through Information minister Jenfran Muswere, has announced a significant shift in land policy, declaring that state land, previously offered to local indigenous people under the "land...Published: 21 Oct 2024 at 11:06hrs | 704 | by Admire Maparadza Dube
RBZ blames speculative behaviour for ZiG's woes
The Reserve Bank of Zimbabwe (RBZ) has attributed the recent collapse of the newly introduced Zimbabwe Gold (ZiG) currency to rampant rent-seeking behavior and speculative activities within the parall...Published: 20 Oct 2024 at 14:12hrs | 236 | by Staff reporter
Billions 'wiped off' Zimbabwe banks
Bankers in Zimbabwe have attributed a significant downturn in revenues to frequent changes in the country's functional currency, as first-half financial statements revealed a staggering loss of billio...Published: 18 Oct 2024 at 12:28hrs | 1427 | by Staff reporter
Zimbabwe is undermining the ZiG by overspending
Zimbabwe's new gold-backed currency is likely being undermined by the state tapping the central bank for funding and selling Treasury bills to pay for its overspending, Imara Asset Management said....Published: 18 Oct 2024 at 08:54hrs | 1264 | by Staff reporter
ZiG devaluation amid rising gold prices raises lots of questions
Justice, Legal and Parliamentary Affairs Minister Ziyambi Ziyambi faced tough questions in Parliament on Wednesday regarding the recent devaluation of the Zimbabwe Gold currency (ZiG) despite soaring ...Published: 18 Oct 2024 at 08:47hrs | 256 | by Staff reporter
Selling fuel in Zimbabwe's local currency will stabilising the ZiG
In a pivotal announcement, Zimbabwe's Finance Minister Mthuli Ncube declared that all taxes and fees should now be paid in the Zimbabwe Gold (ZiG) currency. This move is part of a broader strategy to ...Published: 17 Oct 2024 at 16:44hrs | 3248 | by Engineer Jacob Kudzayi Mutisi
Mnangagwa's adviser says ZiG is 'doomed', warns RBZ Governor
Local economist and adviser to President Emmerson Mnangagwa, Eddie Cross, has issued a stark warning to Reserve Bank of Zimbabwe (RBZ) Governor John Mushayavanhu, cautioning that the country's new Zim...Published: 15 Oct 2024 at 18:10hrs | 5661 | by Staff reporter
Mthuli Ncube assures Zimbabweans amid ZiG volatility concerns
Finance Minister Mthuli Ncube has reassured Zimbabweans that there is no cause for alarm regarding potential volatility of the Zimbabwe Gold (ZWG) currency, citing the country's balanced local currenc...Published: 12 Oct 2024 at 11:22hrs | 376 | by Staff reporter
Mnangagwa, central bank deliver damp squibs
President Emmerson Mnangagwa's recent State of the Nation Address (Sona) has come under heavy criticism from leading economists, who say it lacked concrete solutions to arrest the nation's spiraling e...Published: 11 Oct 2024 at 18:33hrs | 1320 | by Staff reporter
Zimbabwe government's continued web of lies on ZiG gold-backing exposed!
Yesterday's statement, in a ZBC interview, by Reserve Bank of Zimbabwe Governor John Mushayavanhu has sparked confusion regarding the country's new currency, the Zimbabwean Gold (ZiG). The gov...Published: 11 Oct 2024 at 08:32hrs | 2294 | by Tendai Ruben Mbofana
Gold reserves backing ZiG rise
The Reserve Bank of Zimbabwe (RBZ) has reassured the public of continued exchange rate stability, with gold reserves backing the Zimbabwe Gold (ZiG) currency now valued at over US$450 million, up from...Published: 10 Oct 2024 at 18:50hrs | 6231 | by Staff reporter
Zimbabwe gazettes new limit on cash exports
The Government of Zimbabwe has introduced new regulations setting a maximum limit on the amount of cash that individuals can take out of the country without prior approval from the Reserve Bank of Zim...Published: 08 Oct 2024 at 19:43hrs | 2575 | by Staff reporter
ZiG's false promise: Debunking the gold-backed myth
Some of us said it from day one, but we were accused of being 'prophets of doom'.When the Zimbabwe authorities declared war on illegal money changers, ostensibly, in order to 'defend' the stab...Published: 07 Oct 2024 at 16:36hrs | 1409 | by Tendai Ruben Mbofana
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 | 1041 | by Staff reporter
'ZiG defence plan doomed'
The introduction of Zimbabwe's gold-backed currency, Zimbabwe Gold (ZiG), has faced a series of severe setbacks, pushing the economy deeper into turmoil, according to a new report by the Confederation...Published: 05 Oct 2024 at 16:35hrs | 2638 | by Staff reporter
Court withdraws fraud allegations against couple
The State has withdrawn some of the fraud charges against Clark Clever Makoni and Beverly Aisha Ndonda Makoni, who are accused of defrauding former Reserve Bank of Zimbabwe (RBZ) governor Gideon Gono ...Published: 05 Oct 2024 at 11:34hrs | 181 | by Staff reporter
Gono accused of using political muscle in property dispute
A Harare couple, Clark Clever Makoni and Beverly Aisha Ndonda Makoni, have accused former Reserve Bank of Zimbabwe (RBZ) governor Gideon Gono of leveraging his political connections in a property disp...Published: 05 Oct 2024 at 11:33hrs | 103 | by Staff reporter
ZiG adjustment stabilises prices, claims Mthuli Ncube
The recent adjustment of the exchange rate between the Zimbabwe Gold (ZiG) currency and the United States dollar has successfully stabilised market prices, Finance, Economic Development and Investment...Published: 05 Oct 2024 at 11:29hrs | 164 | by Staff reporter
Mr. President, you'll never fix the economy when you behave like a witchdoctor!
When I was listening to President Emmerson Dambudzo Mnangagwa delivering his State of the Nation Address (SONA) yesterday, I hoped he would finally provide solutions to the country's economic crisis....Published: 03 Oct 2024 at 10:45hrs | 791 | by Tendai Ruben Mbofana
Mnangagwa frets over resurgent black market
In his State of the Nation Address (SONA) delivered during the official opening of the second session of the 10th Parliament in Mt Hampden, President Emmerson Mnangagwa expressed deep concern over the...Published: 03 Oct 2024 at 08:58hrs | 610 | by Staff reporter
BCC grappling with fire at Richmond Landfill Site for 4 days now
The City of Bulawayo is actively working to extinguish a fire that erupted last Sunday at the Richmond Landfill Site, attributed to spontaneous combustion. The incident has raised alarm among resident...Published: 03 Oct 2024 at 08:56hrs | 223 | by Staff reporter
Zimbabwe bankers warn of price increases
Bankers in Zimbabwe are raising alarms about potential price increases and shortages of basic commodities following the recent devaluation of the Zimbabwe Gold (ZiG) by over 40% by the Reserve Bank of...Published: 03 Oct 2024 at 08:56hrs | 299 | by Staff reporter
Salary review for civil servants
The Government of Zimbabwe is set to adjust the wages of civil servants in response to the recent 42.55 percent increase in the Zimbabwe Gold (ZiG) exchange rate against the United States dollar, Fina...Published: 03 Oct 2024 at 08:45hrs | 421 | 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
Zimbabwe's currency conundrum: Meagre gold reserves can't sustain the ZiG
Today, during his State of the Nation Address (SONA), President Emmerson Dambudzo Mnangagwa announced that the government would set aside 50% mineral royalties to shore up the local currency. ...Published: 02 Oct 2024 at 20:53hrs | 2931 | by Tendai Ruben Mbofana
'RBZ's monetary policy not the root cause of ZiG devaluation'
Recent findings by an anonymous economist suggest that the Reserve Bank of Zimbabwe's (RBZ) monetary policy may not be the root cause of the depreciation of the Zimbabwean dollar (Zig). The analysis e...Published: 02 Oct 2024 at 11:36hrs | 1355 | by Staff reporter
MPs demand explanation from Mthuli Ncube
WEDZA North MP Itai Ndudzo has formally demanded that Finance Minister Mthuli Ncube provide a ministerial statement addressing the recent devaluation of Zimbabwe's new gold-backed currency, the Zimbab...Published: 02 Oct 2024 at 07:57hrs | 1240 | by Staff reporter
Zimbabwe shops impose limits amid panic-buying?
Some shops across Zimbabwe have imposed "one item per person" rules for products such as milk to fend off panic-buying triggered by a new loss of faith in the country's latest currency.Last we...Published: 02 Oct 2024 at 07:57hrs | 1181 | by Staff reporter
Zimbabwe retailers rejects forced de-dollarisation
Zimbabwean retailers have issued a stark warning to the government regarding the potential consequences of de-dollarising the economy, cautioning that such a move could have catastrophic effects. This...Published: 02 Oct 2024 at 07:55hrs | 728 | by Staff reporter
Exposing economic saboteurs threatening Zimbabwe's future
THE introduction of the Zimbabwe Gold Currency (ZiG) symbolised a shift toward economic sovereignty, self-reliance and stability. Yet, instead of celebrating this monumental effort, some individuals w...Published: 02 Oct 2024 at 07:49hrs | 248 | by Innocent Mujeri
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