Bulawayo24 News - Skyes! "it makes perfect sense"

Mthuli Ncube sees 2025 growth rebound after this year's drought

Zimbabwe has projected economic growth to accelerate to 6 percent in 2025 from 2 percent this year, helped by improved agricultural output and power generation as the country recovers from a severe drought, finance minister Mthuli Ncube sa…

Published: 28 Nov 2024 at 16:32hrs | 193 | 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 said.The central bank also said the rece…

Published: 10 Apr 2024 at 06:02hrs | 3 | by Staff reporter

Zimbabwe's new ZiG spins markets into trading disruptions and uncertainty

Zimbabwe's newly introduced ZiG currency is causing market disruptions and transaction bottlenecks despite central bank assurances that it is backed by gold and foreign currency reserves, amid scepticism that the government will keep money…

Published: 09 Apr 2024 at 06:24hrs | 3 | by Staff reporter

Govt blitz as traders dump Zimdollar

THE Consumer Protection Commission together with the police and the Financial Intelligence Unit has launched a blitz on businesses refusing to accept the Zimdollar following the launch of a new currency last week.But observers said the bli…

Published: 09 Apr 2024 at 06:22hrs | 1 | by Staff reporter

RBZ boss appointment challenged in court

PRESIDENT Emmerson Mnangagwa's appointment of veteran bank John Mushayavanhu as the new Reserve Bank of Zimbabwe (RBZ) governor has been challenged by two university students, who allege that it contravenes the law.Mnangagwa was forced to …

Published: 07 Apr 2024 at 10:33hrs | 4 | 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 and set at a market-determined exchange rate. It …

Published: 07 Apr 2024 at 10:31hrs | 30 | by Staff reporter

New currency without public confidence won't solve crisis

The government of Zimbabwe through the Reserve Bank of Zimbabwe (RBZ) has launched a new currency, which it calls the Zimbabwe Gold (ZiG).We have been here before and it is key to understand if the ZiG dollar will be successful.It is impor…

Published: 07 Apr 2024 at 10:29hrs | 6 | by Mlondolozi Ndlovu

Zimbabwe currency crisis: Time to face the truth

THERE is, of course, no such thing as "a shortage of foreign currency".In open and disciplined markets, all that such a claim reflects is an over-valued local currency, whose managers resist the simple law of supply and demand, at that poi…

Published: 07 Apr 2024 at 10:26hrs | 1 | by Obert Nyandoro

Zimbabwe's new currency greeted with pessimism

The new currency introduced by the Reserve Bank of Zimbabwe (RBZ) on Friday has been branded old wine in new bottles by economists and financial experts who doubt that it will stand the test of time.RBZ governor John Mushayavanhu in his fi…

Published: 07 Apr 2024 at 10:18hrs | 2 | by Mthandazo Nyoni

Econet announces preps for changeover from Zimdollar to ZiG

Econet Wireless Zimbabwe has announced that it has suspended trading in the ZWL currency as it works to configure the changeover from ZWL to the new ZiG currency on its various product platforms. Econet Wireless, the leading telecommunicat…

Published: 07 Apr 2024 at 10:08hrs | 2 | by Staff reporter

Zimbabwe's new currency requires bold measures to succeed

JOHN Mushayavanhu, the new Reserve Bank of Zimbabwe (RBZ) governor, yesterday put his head on the block declaring that "not under my watch" will the apex stray from its core functions as he launched a structured currency seen as the last-d…

Published: 06 Apr 2024 at 08:10hrs | 2 | by Staff reporter

RBZ adopts market-based exchange rate

THE Reserve Bank of Zimbabwe (RBZ) has adopted a market-determined system for setting exchange rates, with the auction system being replaced by a refined interbank foreign exchange market which connects and allows trading between willing-b…

Published: 06 Apr 2024 at 08:06hrs | | 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 policy aims to establish a robust and st…

Published: 05 Apr 2024 at 13:28hrs | 122 | by Staff Reporter

Zimbabwe set to announce fate of Zimdollar

Zimbabwe's currency plunged to yet another record low as citizens rushed to the safety of the US dollar amid speculation an announcement from the central bank on the fate of the local unit is imminent.The Zimbabwe dollar traded at 22 476 a…

Published: 04 Apr 2024 at 06:03hrs | 2 | 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 market has been waiting for to pick th…

Published: 31 Mar 2024 at 20:50hrs | 3 | by Staff reporter

Zimbabwe to keep Zimdollar

Zimbabwe plans to keep its local dollar, a currency that has lost value every single trading day of the year, even as fiscal and monetary authorities work on new plans to revamp the currency, according to Finance Minister Mthuli Ncube."We …

Published: 26 Mar 2024 at 06:37hrs | 2 | by Staff reporter

Gold set to anchor Zimbabwe dollar

GOLD has emerged as the most ideal instrument likely to be used to anchor the structured currency the Government is pursuing to stabilise the exchange rate and curtail persistent inflation.The release of the 2024 Monetary Policy Statement …

Published: 10 Mar 2024 at 06:23hrs | 13 | by Staff reporter

Vendors decry unfavourable conditions at Egodini

VENDORS operating at the newly refurbished Egodini Terminus have expressed concern over what they termed "unfavourable" business conditions after Bulawayo City Council (BCC) allegedly barred them from selling perishables such as vegetables…

Published: 04 Mar 2024 at 04:42hrs | 4 | by Staff reporter

'Zimdollar will be defended'

THE Zimbabwe dollar will continue to be promoted and defended as it is crucial in boosting the operations of some companies, especially in the cooking oil sector, Finance, Economic Development and Investment Promotion Minister Professor Mt…

Published: 04 Mar 2024 at 04:42hrs | 1 | by Staff reporter

Zimbabwe govt's proposed new currency reforms doomed

THE recently proposed currency changes, intended to underpin the Zimbabwe dollar with assets, will come to nought, given that country lacks sufficient reserves to support the local unit, an independent advisory has said.Finance minister Mt…

Published: 25 Feb 2024 at 09:27hrs | 3 | by Staff reporter

Withdraw Zimdollar from circulation

GOOD day, President Emmerson Mnangagwa. Your Excellency, it is my conviction that the Zimdollar, all things considered, is a swine. It is the epitome of voodoo economics, based on implausible assumptions. It ought not have been reintroduce…

Published: 14 Feb 2024 at 19:25hrs | 2 | by Cyprian Muketiwa Ndawana

Traders reject Zimdollar

THE Zimbabwe dollar has continued to depreciate in 2024, with traders in some areas now refusing to accept the local currency, while parallel market exchange rates have been differing across the country The NewsHawks reported.This has been…

Published: 12 Feb 2024 at 13:49hrs | 2 | by Staff reporter

Zimdollar crashes to lowest since its 2019 revamp

A fresh plunge in the value of the Zimbabwean dollar means that everyone in the country with US$100 is now a millionaire in local-currency terms. Again.The local unit on Tuesday weakened past 10 160 per US dollar in the spot market for the…

Published: 31 Jan 2024 at 04:56hrs | 4 | by Staff reporter

Fresh measures to prop up Zimdollar

The GOVERNMENT is set to unveil new interventions, which may include reforming the foreign currency auction system and boosting foreign currency supply in the market, to deal with the recent volatility affecting the Zimbabwe dollar.The rec…

Published: 21 Jan 2024 at 07:27hrs | 1 | by Staff reporter

Zimdollar further tumbles against US dollar

The cost of goods and services keeps on increasing in Zimbabwe as the local currency depreciates against the U.S. dollar, a trend that accelerated at the beginning of 2024.The local dollar, which officially traded at 6,192 per 1 U.S. dolla…

Published: 18 Jan 2024 at 17:52hrs | 1 | by Staff reporter

Zimbabwe family basket skyrockets to $3,6 million

THE cost of the food basket for a family of six has shot to ZWL$3,6 million, with retailers now charging some goods exclusively in United States dollars (US$) owing to the depreciating Zimbabwe dollar, the Consumer Council of Zimbabwe (CCZ…

Published: 10 Jan 2024 at 05:56hrs | 11 | by Staff reporter

Zimdollar exchange rate bolts

MARKET watchers have predicted a gloomy 2024 outlook amid a galloping exchange rate, steep taxation and an ever tanking economy, NewsDay reported.As usual, this is heavily impacting on ordinary citizens whose disposable incomes have been e…

Published: 08 Jan 2024 at 05:36hrs | 14 | by Staff reporter

Headmasters confront govt over Zimdollar salaries

HEADMASTERS from government schools across Zimbabwe have put their employer on notice to press for United States dollar salaries starting from the forthcoming term.School heads and teachers are currently earning at least US$300 and about Z…

Published: 03 Jan 2024 at 05:30hrs | 1 | by Staff reporter

Zimdollar bloodbath set to continue into coming year

THE depreciation of the Zimbabwe dollar in 2023 is likely to spill into 2024, with experts forecasting an increase in the cost of doing business, production and increased pressure on the exchange rate.The local currency has been on a freef…

Published: 30 Dec 2023 at 16:33hrs | 13 | by Staff reporter

Zimdollar decline fueled by surge in money supply

THE Zimbabwe dollar has taken a battering in the past month with economists attributing the depreciation of the local currency to increased money supply after private and public sector employees were paid their annual bonuses.According to …

Published: 24 Dec 2023 at 16:10hrs | 11 | by Staff reporter

Zimdollar worse off since 2022

THE local currency, the Zimbabwean dollar, has continued to depreciate against the United States dollar on an unrestrained trajectory, despite various measures implemented by the Reserve Bank of Zimbabwe.However, the margin of decline has …

Published: 03 Dec 2023 at 19:20hrs | 13 | by Tinashe Duma

'Zimdollar here to stay'

GOVERNMENT says it will announce a clear and transparent roadmap towards de-dollarisation to avoid shocks that may hurt the economy and drive citizens deeper into poverty.The country was due to end dollarisation in 2025 to put to bed the m…

Published: 17 Nov 2023 at 05:06hrs | 8 | by Staff reporter

Mthuli Ncube to prioritise Zimdollar stability

FURTHER stabilising the Zimbabwe dollar and consolidating economic growth will be prioritised in the 2024 budget, Finance, Economic Development and Investment Promotion Minister Professor Mthuli Ncube has said.He told our Harare bureau tha…

Published: 12 Nov 2023 at 11:43hrs | 12 | by Staff reporter

'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's discretionary powers to change polici…

Published: 03 Nov 2023 at 14:55hrs | 13 | by Staff reporter

Zanu-PF MPs disown Zimdollar

Members of Parliament from the ruling Zanu-PF party have called for the disbursement of Constituency Development Fund (CDF) allocations in United States dollars, as they expressed concerns about service providers rejecting the local curren…

Published: 16 Oct 2023 at 08:09hrs | 2 | by Staff reporter

'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 significance of a nation possessing its own curre…

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 development relies on having its own cu…

Published: 13 Oct 2023 at 06:12hrs | 11 | by Staff reporter

Cost of living rises as Zimdollar slips

The cost of living has surged by an additional 4.8% to reach ZWL$95,462.53 per person in September, driven by the ongoing depreciation of the Zimbabwean dollar against the US dollar. The country's currency has depreciated approximately 18%…

Published: 29 Sep 2023 at 06:22hrs | | by Staff reporter

Living a lie

IN our NewsDay edition yesterday, we carried two stories titled: Low civil servants wages a time bomb and Let the good time roll, let's enjoy: Mthuli.The two stories clearly highlighted the glaring chasm between the country's lived realiti…

Published: 20 Sep 2023 at 06:41hrs | | by Staff reporter

Zimdollar losing grip after months of stability

Since the disputed general election held last month, the Zimbabwean dollar has been gradually depreciating on both the official and parallel forex markets. A day before the harmonized elections on August 23, the official exchange rate was …

Published: 17 Sep 2023 at 08:00hrs | | by Staff reporter

Zimdollar future hangs in the balance

IT is imperative for every successful and expanding economy in the world to have its own currency and monetary policy. I make that statement because it is important for all Zimbabweans to understand that we cannot continue using the United…

Published: 12 Sep 2023 at 06:33hrs | | by Eddie Cross

Zimbabwe targeting Zimdollar return in 5 years

Zimbabwe will continue to put in place measures to entrench the use of the domestic currency because having its own currency forms the basis for sustainable economic growth and development, President Mnangagwa has said.The President said t…

Published: 06 Sep 2023 at 19:09hrs | 3 | by Staff reporter

'CCC to dump Zimdollar'

NELSON Chamisa's Citizens Coalition for Change (CCC) says it will promptly, albeit temporarily, dump the Zimbabwe dollar for the United States dollar if elected as the new government.Speaking during a parties' manifesto discussion on X, fo…

Published: 22 Aug 2023 at 06:27hrs | 2 | by Stafff reporter

Zimdollar depreciation scares Mthuli Ncube

FINANCE and Economic Development minister Mthuli Ncube is concerned about the depreciation of the local currency against the greenback as he drafts the national budget for 2024, fearing Zimbabwe's fiscal deficit could spiral out of control…

Published: 18 Aug 2023 at 18:10hrs | | by Staff reporter

Zimdollars rain at Chamisa's rally

OPPOSITION leader Nelson Chamisa made Sakubva Sports Oval rain with Zimdollar notes after declaring that once he is elected President, he will do away with the local currency, violence and centralisation of power in one person or one regio…

Published: 07 Aug 2023 at 06:42hrs | 11 | by Staff reporter

'If Zimdollar is abandoned markets and financial institutions will recover'

As the Zimbabwean dollar continues to battle for its survival under severe pressure from the United States dollar despite its recent recovery rally, John Legat, Imara Asset Management (Zimbabwe) chief executive, says if the local currency …

Published: 21 Jul 2023 at 07:56hrs | 6 | by Staff reporter

Zimdollar demand soars

DEMAND for the Zimbabwean dollar continues to soar as more businesses and individuals seek to transact using the local currency, which has regained its lost value for the third consecutive time at the wholesale foreign currency auction to …

Published: 05 Jul 2023 at 07:15hrs | 1 | by Staff reporter

Zimdollar collapse a harbinger of worse things to come

THE Zimdollar this week recorded its biggest single day drop off since its reintroduction in June 2019 of 26% to $1 888,01, against the United States dollar on the official market.On the parallel market, the Zimbabwe dollar depreciated alm…

Published: 29 Jun 2023 at 06:30hrs | 16 | by Staff reporter

Mthuli Ncube remains mum as Zimdollar crashes

FINANCE minister Mthuli Ncube's failure to update the nation on the state of the economy, despite several calls by legislators, shows the typical arrogance associated with Zanu-PF leaders when confronted with national crises.Last month, Nc…

Published: 22 Jun 2023 at 08:44hrs | 3 | by Staff reporter

Zimdollar on the verge of complete rejection

THE Zimbabwe dollar, which was reintroduced by the Reserve Bank of Zimbabwe (RBZ) in 2019, is on the verge of collapse and complete market rejection.The local unit is incessantly plummeting against the United States dollar in both forex ex…

Published: 16 Jun 2023 at 07:54hrs | 2 | by Zimbabwe Coalition on Debt and Development

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President Mnangagwa must respect the constitution

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