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Zimbabwe and Zambia combine efforts to solve their power woes
Zimbabwe and Zambia are combining efforts to deal with their electricity crises, which have seen power cuts of up to 21 hours per day.With no load shedding for eight months, Eskom has asked So...Published: 20 Nov 2024 at 07:09hrs | 446 | 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 | 6530 | by Staff reporter
Zimbabwe Energy Minister reveals shocking decline in electricity generation
Zimbabweans face unrelenting power outages, with homes and businesses left without electricity for over 18 hours daily. The crisis stems from failing infrastructure at Hwange Thermal Power Station and...Published: 14 Nov 2024 at 15:25hrs | 1237 | by Staff reporter
Mnangagwa says mineral-rich countries must not remain poor
As the world transitions toward renewable energy, Zimbabwe and other mineral-rich nations must not remain impoverished but should harness opportunities to drive sustainable growth, President Emmerson ...Published: 14 Nov 2024 at 09:24hrs | 98 | by Staff reporter
Gold glitters as Caledonia's profit after tax jumps 872%
Caledonia Mining Corporation Plc, listed on the Victoria Falls Stock Exchange, has reported a remarkable 872% rise in profit after tax to US$16.45 million for the nine months ending September 30, 2024...Published: 12 Nov 2024 at 10:57hrs | 133 | by Staff reporter
'Trump Presidency to hurt Zimbabwe's trade, investments'
Zimbabwe's trade and investment prospects could face significant challenges following United States President-elect Donald Trump's proposed tariff policies, according to an analysis by FBC Securities....Published: 11 Nov 2024 at 07:13hrs | 2289 | 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
BCC starts feasibility study for Matopos, Umganin aquifers
The Bulawayo City Council (BCC) has initiated a feasibility study aimed at identifying potential aquifers in the Matopos and Umganin areas, marking a significant step toward addressing the city's ongo...Published: 10 Nov 2024 at 10:54hrs | 118 | 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 | 169 | by Staff reporter
Zimbabwe eyes deeper ties with China through belt and road initiative
Zimbabwe looks forward to deepening its partnership with China under the Belt and Road Initiative (BRI), anticipating extensive collaboration in economic development, said Midlands Minister of State f...Published: 09 Nov 2024 at 17:02hrs | 188 | by Staff reporter
Zimbabwe explores nuclear energy to bolster energy security
Zimbabwe is actively exploring the establishment of nuclear power plants in partnership with the International Atomic Energy Agency (IAEA) to address its ongoing energy challenges. While the country h...Published: 06 Nov 2024 at 16:37hrs | 695 | by Staff reporter
How Bulawayo's townships reflect city's rich Ndebele heritage
IN 1894, Bulawayo had just one African township. Today, the city boasts close to twenty townships in the western suburbs. Bulawayo's first African township was Makokoba, also known as the "Location" o...Published: 02 Nov 2024 at 08:39hrs | 749 | by Fredrick Qaphelani Mabikwa
If Smith was an oppressor, then what is Mnangagwa?
As I sit here, my work at a standstill due to the daily power outages we are experiencing in Zimbabwe, most times going for 15 hours or more a day, I can not help wondering.What has this suppo...Published: 30 Oct 2024 at 22:17hrs | 843 | by Tendai Ruben Mbofana
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
South Africa's celebrity snake handler dies of snake bite
One month after he was placed in an induced coma following a snake bite, South African YouTuber, Graham 'Dingo' Dinkelman, has passed away.In a statement, 44-year-old Dinkelman's wife Kirsty D...Published: 29 Oct 2024 at 09:24hrs | 3210 | by TimesLive
Bolivia's Morales survives assassination attempt
Bolivia's Evo Morales said on Sunday his vehicle was hit by gunfire captured in a video, reflecting how political tensions have turned violent in the Andean nation between the former leader and his on...Published: 27 Oct 2024 at 14:42hrs | 799 | by Staff reporter
IMF cautions Zimbabwe
ZIMBABWE won't solve its economic challenges via the gold-backed ZiG currency that it launched in April and has since had to devalue, the International Monetary Fund said."There's a tendency t...Published: 27 Oct 2024 at 12:30hrs | 4013 | 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 | 2200 | by Staff reporter
Call for reparations: A mere excuse by failed African leaders!
As the Commonwealth Heads of Government meeting (CHOGM) kicked off this week in Samoa, the topic of reparations for slavery and colonialism has once again been thrust into the spotlight. Sever...Published: 23 Oct 2024 at 20:31hrs | 270 | by Tendai Ruben Mbofana
No to third term of office for President Mnangagwa: Mudenda
Former Mthwakazi Republic Party National Executive Council Chairman Mudenda Chilumbo has criticized the Zanu PF faction that is rallying for President Emmerson Mnangagwa to rule beyond 2028, stating t...Published: 23 Oct 2024 at 20:03hrs | 1889 | by Stephen Jakes
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
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
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
George Guvamatanga rules out Zimbabwe exchange-rate convergence
Zimbabwe won't allow the street rate of the ZiG to determine where its official rate should be as it isn't driven by market fundamentals, a senior Treasury official said.The ZiG is trading at ...Published: 18 Oct 2024 at 08:53hrs | 1701 | 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
ZimAlloys resumes chrome smelting
ZimAlloys, a ferrochrome producer based in Gweru, has restarted its chrome smelting operations after an 11-year break, thanks to a US$7 million investment from Kuvimba Mining House. The company's revi...Published: 18 Oct 2024 at 08:37hrs | 181 | by Staff reporter
Taxes, fees to be paid in ZiG
The Zimbabwean Treasury is set to implement new measures requiring most taxes and fees to be paid exclusively in the Zimbabwe Gold (ZiG) currency, a move aimed at increasing demand and stabilizing its...Published: 17 Oct 2024 at 09:05hrs | 2516 | by Staff reporter
Mnangagwa warns against input abuse
President Mnangagwa has directed that the distribution of agricultural inputs for the 2024-2025 cropping season must adhere strictly to established procedures to ensure transparency and accountability...Published: 17 Oct 2024 at 08:54hrs | 87 | by Staff reporter
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
Global cement maker now in Zimbabwe
One of the world's top cement producers, Huaxin Cement Co. Ltd, has made a significant investment in Zimbabwe by committing US$15 million to build a new manufacturing plant in Mt Hampden. The plant, w...Published: 15 Oct 2024 at 08:25hrs | 477 | 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 says basic goods in limited supply after ZiG devaluation
Zimbabwe said the steep devaluation of its gold-backed currency last month has triggered shortages of bread, sugar and other staples in its formally regulated stores, suggesting the country's latest e...Published: 09 Oct 2024 at 16:38hrs | 3281 | by Staff reporter
7 countries at risk of bankruptcy
About seven developing countries are currently in danger of facing bankruptcy or in need of a bailout due to piling debt which is slowly gearing towards a default level.Countries can file for ...Published: 09 Oct 2024 at 07:16hrs | 652 | by Staff reporter
Mutare grapples with critical land shortage
The Mutare City Council is confronting a critical land shortage as the demand for residential stands continues to rise among residents. This pressing issue was highlighted by the council's deputy dire...Published: 08 Oct 2024 at 07:31hrs | 163 | 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
CCC MPs demand Mnangagwa action as ZiG devalues
Opposition Members of Parliament (MPs) have expressed frustration over the continued devaluation of Zimbabwe's local currency, the Zimbabwe Gold (ZWG), urging the government to address the nation's lo...Published: 03 Oct 2024 at 16:25hrs | 954 | 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
Mnangagwa warns forex dealers
In a bold move to stabilize the beleaguered Zimbabwe Gold (ZWG) currency, President Emmerson Mnangagwa announced on Wednesday that 50% of mining royalties will be allocated to bolster the currency's r...Published: 03 Oct 2024 at 08:58hrs | 1079 | by Staff reporter
Zec pushes for political party registration
The Zimbabwe Electoral Commission (ZEC) has ramped up efforts to ensure that political parties are legally registered through an amendment to the Electoral Act. Currently, political parties only need ...Published: 03 Oct 2024 at 08:55hrs | 208 | by Staff reporter
Zimbabwe govt working on currency stability
In a comprehensive State of the Nation Address delivered yesterday at the new Parliament Building in Mt Hampden, President Emmerson Mnangagwa highlighted the government's ongoing efforts to stabilize ...Published: 03 Oct 2024 at 08:47hrs | 167 | 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
7 big global companies dump South Africa
Many large global companies, including Shell, HSBC, PNB Paribas, Rolex, AngloGold Ashanti, TotalEnergies, and BP's Aviation Fuel Business, are dumping South Africa.Last week, HSBC announced th...Published: 02 Oct 2024 at 12:35hrs | 1192 | by Staff reporter
Used clothes take Zimbabwe by storm
Kimberley Dube takes great care with her appearance. She always looks sharp and fashionable in smart-looking jeans, t-shirts, sweatpants, tops, and designer sneakers."I love jeans - can't get ...Published: 02 Oct 2024 at 11:24hrs | 621 | by Staff reporter
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