Zimbabwe

Zimbabwe

ZiG's Formal Market Stability Offsets Inflationary Upswings

The Zimbabwe Gold (ZiG), has continued to maintain stability on the formal market since its inception, helping to curb inflationary pressures. On June 17th, the currency traded at ZiG13.4910 per US do

Jun 17, 2024
Zimbabwe
Corruption and Economy: ZACC to Probe Wicknell Chivhayo Over 'Online' Corruption Allegations

he Zimbabwe Anti-Corruption Commission (ZACC) has announced that it will interview three prominent Zimbabwean businessmen - Wicknell Chivhayo, Mike Chimombe, and Moses Mpofu - regarding leaked audios

 Jun 17, 2024
World
$80 Million Partnership: Unpacking CBZ, Afreximbank’s Landmark Financing Agreement

BZ Bank and African Export Import Bank (Afreximbank) have signed two financing facilities worth a total of US$80 million to support Zimbabwean exporters. The first facility is a US$60 million line of

 Jun 17, 2024
Zimbabwe
NRZ Seeks $400M Bailout to Link Manhize Steel Plant to Rail

The National Railways of Zimbabwe (NRZ) faces a daunting challenge in supporting the country's economic recovery and the ambitious Manhize steel project. With equipment and infrastructure long past i

 Jun 17, 2024
Zimbabwe
Zimbabwe Zero Rates Gold Deliveries: Uncovering Incentives Behind the Policy Shift

The government has implemented a zero-rating policy for gold deliveries to Fidelity, the state-owned gold buying entity. This policy change comes after gold deliveries have been sustaining a downward

 Jun 13, 2024
Zimbabwe
Assessing ZiG’s Performance in 2 Months: Currency Gamble Implodes, Worst in Decade

In the latest currency saga in Zimbabwe, the newly introduced Zimbabwe Gold (ZiG) has struggled to maintain stability against the US dollar. Since its launch just two months ago on the parallel market

 Jun 10, 2024
Zimbabwe
Gold Deliveries Plunge 5% YoY in May

Amid a foreign currency crunch and the instability of the ZiG currency exchange rate which requires immense gold backing, Zimbabwe's gold deliveries have continued to plummet according to the latest d

 Jun 07, 2024
RBZ Partners Homelink to Solve ZiG Cash Crisis: A Swing or Sink Idea?

he government has partnered with Homelink, a financial services company, to address the ZiG cash crisis that has bewildered the economy. This crisis has led to a rounding up of previously valued produ

Jun 06, 2024
What Does Revival of Bilboes Mean for Zim's Gold Arena in Near and Long Term?

Caledonia Mining Corporation has announced that it will revive the Bilboes Mine operations in Zimbabwe through a single-phase development approach, a decision expected to provide improved cash generat

Jun 05, 2024
ZERA Hikes Petrol Prices Despite Global Oil Slump

Zimbabwe Energy Regulatory Authority (ZERA)has increased the fuel prices for the month of June, up from May prices for petrol and diesel in US dollar terms. This is despite global brent crude futures

Jun 05, 2024
Econet Pays 3.8 Trillion in Taxes to Government

Econet Wireless Zimbabwe, the country's largest telecom operator, contributed a staggering ZWL3.8 trillion to the government and statutory bodies in the fiscal year ended February 29, 2024. This figur

Jun 03, 2024

Black Market Balloons as Government's ZiG Currency Gamble Backfires

During the last week of May, we continued to monitor the movement of the ZiG currency against other currencies in both the government-regulated formal exchange rate and the market-determined parallel

Jun 01, 2024

Drought Dries Up Zim's Economic Hopes: GDP Downgraded to 2%

Zimbabwe's economic growth forecast for 2024 has been slashed to 2%, down from the initial projections of 3.6%. This downward revision is primarily due to the impact of the ongoing drought in the regi

May 31, 2024

Zimbabwe's Trade Woes Deepen as Deficit Balloons in April

Zimbabwe's trade deficit for April widened to $256.9 million, a 37.9% increase from the $186.3 million deficit recorded in March 2024. This marked the fourth consecutive month of Zimbabwe trading in t

May 31, 2024

Gold Exports Plummets Amid Mounting Forex, Currency Crises

Zimbabwe's gold exports decreased from 23.6 kilograms in March to 20.8 kilograms in April according to the latest data released by ZIMSTAT. This marks a continued decline in gold's dominance as the co

May 30, 2024

Lithium's Wild Ride: Zimbabwe Lithium Ambitions Disrupted by Volatile Global Markets

As the world grapples with geo-economic fragmentation due to the Middle East's crisis and the Russia-Ukraine War, the future of lithium remains uncertain. Despite the global push for a carbon-free eco

May 29, 2024

Pick n Pay Announces Major Recapitalization and Potential Boxer Spin-Off

Pick n Pay, the prominent South African grocery and retail group which has a partnership with TM Supermarkets in Zimbabwe, a Meikles subsidiary, has unveiled a significant strategic plan that could re

May 29, 2024

Zim Boasts Region's Highest Fuel Prices, Sweats Truck Businesses

Despite the challenging economic environment marked by inflationary pressures and exchange rate volatility in Zimbabwe, the country still boasts the most expensive fuel prices in the Southern African

May 28, 2024

Revitus Drives CBD Revival, Eyes Turnaround of Iconic Assets

In a strategic bid to combat the exodus of companies from central business districts (CBDs), Revitus Property Fund has doubled down on its mission to revitalize aging CBD properties and breathe new li

May 27, 2024