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 | | 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 | 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 | | by Obert Nyandoro

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 | | 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 | | 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

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 | | 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 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

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

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 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

Dollarisation key at this juncture

THE instability in the country's macroeconomic environment is a serious cause for concern and solutions should be sought as a matter of urgency.Macroeconomics is a branch of economics that studies how an overall economy behaves, taking int…

Published: 15 Jun 2023 at 06:49hrs | 1 | by Johannes Marisa

US foreign policy and the Zimbabwe dollar!

In my life journey, my three years stay in Jamaica was probably the most traumatic and most revealing as to how the imperialists work.I am, therefore, surprised that Mthuli Ncube and his handlers are either ignorant of that part of history…

Published: 04 Jun 2023 at 08:37hrs | | by Kenneth Mufuka

Sanctions eroding value of Zimdollar

The depreciation of the Zimbabwe dollar is partly due to illegal economic sanctions imposed on the country by Western countries, the African Development Bank (AfDB) said in its African Economic Outlook report released on Wednesday last wee…

Published: 29 May 2023 at 06:30hrs | 1 | by Staff reporter

Chamisa's MPs wants Zimbabwe to dump the Zimdollar

GOVERNMENT has defied opposition calls to abandon the local currency despite its spectacular free-fall and price spikes that have seen businesses abandoning it.In Parliament on Wednesday, opposition lawmaker Chalton Hwende (Citizens Coalit…

Published: 19 May 2023 at 20:45hrs | 1 | by Staff reporter

Zimbabwe government defies calls to abandon Zimdollar as it continues to lose value

Inflation in Zimbabwe is currently at 75%, and is expected to rise even higher in the coming months. This is due in part to the government's decision to print more money in an attempt to finance its budget deficit.The Zimdollar has also be…

Published: 19 May 2023 at 08:41hrs | 21 | by Staff Reporter

Zimdollar loses grip against USD

THE local dollar lost its grip against the United States dollar at the Reserve Bank of Zimbabwe (RBZ)'s auction system, which resumed on Tuesday with the official exchange rate now pegged at US$1: $705.When the auction system closed in mid…

Published: 12 Jan 2023 at 07:38hrs | | by Staff Reporter

Zimdollar has made citizens poorer

WE can't progress if we don't accept reality and correct our shortcomings. It's a fact that the Zimdollar has brought more problems to our sick economy.The Zimdollar prescription is adding more poison to the sick economy and surely, the Re…

Published: 21 Nov 2022 at 04:57hrs | 3 | by Patriot

Zimdollar to further strengthen?

The Zimbabwe dollar is likely to strengthen as extra strands in the policies to decrease the amount of local currency in bank accounts, while increasing the amount of foreign currency in official markets comes with the decision by Governme…

Published: 20 Sep 2022 at 06:02hrs | 4 | by Staff reporter

'Gold coins safer than Zimdollar'

THE resilience of gold as a store of value pushed the Reserve Bank of Zimbabwe (RBZ) to introduce gold coins last month, a central bank official said yesterday.Azvinandava Saburi, director of financial markets at the RBZ, told legislators …

Published: 17 Aug 2022 at 06:40hrs | 2 | by Staff reporter

Zimbabwe currency speculators cornered?

THE retreat of the recent inflation spiral is expected to accelerate, and purchasing power increase in light of recent pay rises without matching price rises, as speculative market forces are being contained by tough corrective macro-econo…

Published: 15 Aug 2022 at 06:38hrs | | by Staff reporter

Government is right on not adopting American dollar as major currency

Calls on government to do away with our own currency, the Zimbabwe dollar/bond, should be ignored by the ED led government.Taking a look back at our neighbours, notably Zambia and Mozambique, they never discarded their currencies , the for…

Published: 09 Jun 2022 at 10:27hrs | 9 | by AT Kadada

The death of the Zimdollar shows the King has no clothes

The death of the Zimbabwe dollar is proof that with all our education, there is something terribly rotten in Simbao (ancient name for Zimbabwe).I want to make an apology to Sister Fay Chung. Sister Chung argued that Zimbabwe's colonial edu…

Published: 05 Jun 2022 at 09:16hrs | 29 | by Kenneth Mufuka

'The Reserve Bank of Zimbabwe is not creating money'

The Sunday Mail Editor Victoria Ruzvidzo (VR) had a no-holds-barred interview with RBZ Governor Dr John Mangudya (JM) on the latest developments in the economy, among them suspension of bank lending, and their implications. Read on  .…

Published: 05 Jun 2022 at 09:00hrs | 3 | by Staff reporter

Zimbabwe's Covid-19 cases rise to 712

Zimbabwe's Covid-19 infections spiked on Wednesday, on the same day as the country began restricting entry to all travellers.The 712 new infections reported by the health ministry were the highest since the 958 declared on August 17 before…

Published: 02 Dec 2021 at 05:36hrs | 1 | by Staff reporter

Mashonaland chiefs demand change of title to kings

CHIEFS are lobbying government to urgently change the nomenclature of traditional leaders' titles from chiefs to kings.Chief Zvimba, born Stanley Urayayi Mhondoro, is leading the lobby.He gained prominence earlier this year after decreeing…

Published: 11 Oct 2021 at 06:04hrs | 17 | by Staff reporter

What China's overseas coal exit could mean for Zimbabwe

IN response to What China's overseas coal exit plans could mean for Zimbabwe' XYZ says: Is being fair to acknowledge that the environmental accusations made towards China are somehow unfair.As was mentioned in the article, that in terms of…

Published: 11 Oct 2021 at 06:02hrs | 18 | by MDC-T president Douglas Mwonzora

Mapeza resists major changes

NORMAN Mapeza has resisted the temptation of making wholesale changes by backing the Warriors, who have been fighting, in the 2022 World Cup qualifying trenches.The interim coach named a 24-member provisional team, for next month's back-to…

Published: 30 Sep 2021 at 07:14hrs | 3 | by Staff reporter

Dynamos labour to beat Yadah

Dynamos 1- 0 YadahDYNAMOS sealed their place in the quarter-finals of the Chibuku Super Cup despite apparent fitness concerns as they laboured to beat Yadah at the National Sports Stadium yesterday.The Glamour Boys, who are runaway leaders…

Published: 30 Sep 2021 at 07:10hrs | 1 | by Staff reporter

Vusa Mkhaya drops video for Lalela

VUSUMUZI Mkhaya Ndlovu popularly known as Vusa Mkhaya has released visuals for his song Lalela.The Masiyephambili hitmaker shot the video at Ubuntu Crawl in Soweto, South Africa.The song advises people to stay humble all times and to seek …

Published: 30 Sep 2021 at 07:10hrs | 3 | by Staff reporter

Zimdollar to remain stable

TWO years ago, the new Minister of Finance in Zimbabwe brought together a small group of local business persons in an informal advisory group. I was privileged to be included.Our meetings were irregular, largely driven by the Ministers nee…

Published: 29 Mar 2021 at 18:10hrs | 1 | by Eddie Cross

Sustaining the Zimdollar

I AM naturally enchanted by the logic, sequence and clarity of a thought process. But l have grown to learn that, quite often, economic plans are elaborately ornamented.The number of economies with utterly fabulous economic blueprints that…

Published: 09 Aug 2019 at 15:02hrs | 2 | by Persistence Gwanyanya

Zimdollar return: Beware the cobra effect

Last month, the government took all and sundry by surprise when it banned the use of multi-currencies in all local transactions and reintroduced the Zimdollar; abandoned due hyperinflation in 2009.The move shocked Zimbabweans, who have the…

Published: 24 Jul 2019 at 08:24hrs | 2 | by Cliff Chiduku

Giving Mthuli Ncube's mono-currency a fighting chance

It is July 1, 1916, World War 1, the Battle of the Somme. The British Army had been planning for weeks and months for a massive assault on German positions dug in around Somme, to relieve pressure on their beleaguered French allies involve…

Published: 04 Jul 2019 at 18:46hrs | 2 | by Joseph Mverecha

The new Zimdollar: What could go wrong?

ZIMBABWE last week made its interim currency, the RTGS dollar, the country's sole legal tender, drawing the curtains on a decade of United States dollar dominance. Harare was forced to abandon its own dollar in 2009 and adopt the greenback…

Published: 03 Jul 2019 at 08:43hrs | | by Ed Stoddard

Zimbabwe - Where did that come from?

Statutory Instrument 142 - Monday June 24, 2019 will go down as one of those days you remember.I have just read the Zimbabwe Independent for this week, it was all about the "return of the Zimbabwe dollar". Since Monday, this has been the o…

Published: 02 Jul 2019 at 08:27hrs | | by Eddie Cross

Zimdollar: Only way out

Having gathered the courage to debunk the deeply held view that once dollarised, it is extremely difficult for a country to de-dollarise, Professor Mthuli Ncube's biggest challenge is to now prove to the whole world that de-dollarisation i…

Published: 30 Jun 2019 at 09:32hrs | | by Persistence Gwanyanya

It's up to us to make Zimdollar work

The record needs to be set straight that Finance minister Mthuli Ncube has done nothing outrageous and/or unprecedented by banning the use of foreign currencies in domestic transactions.According to Wikipedia, this is a measure resorted to…

Published: 28 Jun 2019 at 06:25hrs | 2 | by Conway Tutani

Zimbabwe's new currency: What does it all mean?

FEW things fill a Zimbabwean with fear and dread more than the word "Zimdollar". So, it was no surprise that the news Zimbabwe had declared the RTGS the sole local currency, one more step in the country's march towards its own unit, was me…

Published: 28 Jun 2019 at 06:22hrs | 1 | by newZWire

Introduction of Zimdollar a disaster

A major economic highlight of the week was the confirmation by the President Emmerson Mnangagwa that Zimbabwe will re-introduce a local currency before year-end. It is our view that our country is not yet ready for the introduction of full…

Published: 21 Jun 2019 at 07:48hrs | | by Dr Chitambara

Rebirth of the Zimdollar

Zimbabwean central bank authorities have a traceable record of overnight monetary policy changes. Memories of the former Reserve Bank of Zimbabwe (RBZ) governor Gideon Gono era of monetary policy hip-hop are still fresh in the mind. Having…

Published: 19 Apr 2019 at 11:09hrs | 2 | by Paddington Masamha

Zimbabwe urgently needs own currency

THE drive for Zimbabwe to have its own currency is understandably gain-ing traction, particularly given the aberrations of price increases, multi-tier pricing and foreign currency shortages on the local market. The country demonetised its …

Published: 17 Feb 2019 at 18:44hrs | 2 | by Edmore Ndudzo

Re-introducing local currency, not so fast

THE government recently pledged to re-introduce a local currency to replace the current multi-currency regime within 12 months in its efforts to address a mounting economic crisis.Making the announcement, Finance minister Mthuli Ncube sugg…

Published: 25 Jan 2019 at 14:31hrs | | by Tinashe Kaduwo

You shall not crucify Zimbabwe on a cross of bond notes

RECENT dramatic events arising from allegations that certain officials of the Reserve Bank of Zimbabwe (RBZ) have been involved in currency malfeasance using the bond note as their lever to execute transactions that prejudiced the people o…

Published: 03 Nov 2018 at 08:08hrs | 10 | by Colls Ndlovu

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