Zimbabwe

Zimbabwe

Government Sets New Prices for LPG Gas

The Ministry of Finance, Economic Development, and Investment Promotion has reiterated its call for Liquefied Petroleum Gas (LPG) operators to lower prices following the removal of Value Added Tax (VA

Jan 31, 2025
Zimbabwe
ZiG’s Weekly Review as Stability Remains in Focus: Is This a Turning Point or a False Dawn?

The Zimbabwe Gold (ZiG)  experienced marginal declines, depreciating by 0.1% last week and further by 0.2% this week, closing at 23.3656 against the US dollar. This relative stability is largely attri

 Jan 31, 2025
Zimbabwe
Tobacco Exports Reach All Time High of US$1.3 Billion in 2024

Zimbabwe's tobacco export earnings reached an unprecedented $1.3 billion in 2024, marking the second consecutive year the industry has surpassed the $1 billion milestone. This achievement builds on t

 Jan 30, 2025
Zimbabwe
Zimbabwe Records Highest Maize Shipments in 2024, Surpasses US$500 Million

Zimbabwe's maize imports surged to a historic US$ 563 million in 2024, up from US$ 149.5 million in the previous year, marking a remarkable increase of over 200%. This places maize imports second only

 Jan 29, 2025
Zimbabwe
Trade Deficit Surges Over Threefold to $196.9 Million

Zimbabwe's trade deficit has surged significantly to US$196 million, representing a 318.2% increase from $46.9 million in November 2024, which was the lowest deficit since November 2021. Gold exports

 Jan 29, 2025
Zimbabwe
January Inflation Surges in ZiG, USD, Highest Since November 2024

Zimbabwe’s month-on-month inflation rose sharply in January 2025, both in US dollar terms and ZiG terms, according to the latest data released by the country’s statistics agency, Zimstat. The ZiG mon

 Jan 29, 2025
Zimbabwe
‘Current Dual Currency System Unsustainable for Formal Businesses' CZR

The Confederation of Zimbabwe Retailers (CZR) has sharply criticised the dual currency system currently in place, asserting that it disproportionately favours the informal sector at the expense of for

 Jan 28, 2025
Zimbabwe’s Anti-Smuggling Push: Can SI 7 of 2025 Save Formal Businesses?

In its efforts to mitigate the expanding informal economy, the government has introduced a new statutory instrument, Statutory Instrument 7 of 2025 designed to protect formal market enterprises. This

Jan 28, 2025
Milk Production Hits Record High in 20 Years

Zimbabwe's raw milk production increased by 14.9% in 2024, reaching a record high of 114.7 million litres, surpassing the previous peak of 100 million litres set nearly two decades ago. This achievem

Jan 24, 2025
Climate Round-Up: Trump's Climate Betrayal

The withdrawal of the United States from the Paris Climate Agreement has sent shockwaves throughout the global community, exacerbating concerns about climate change mitigation. This move, orchestrated

Jan 24, 2025
ZiG Weekly Review: Formal Market Sees Slower Depreciation, Parallel Market Rate Drops

The Zimbabwe Gold (ZiG) exhibited a marginal depreciation of 0.1% week-on-week, trading at 26.3004 per USD on January 24, 2025, compared to 26.2614 on January 17, 2025. During the week, the ZiG trade

Jan 24, 2025

ZIDA's Digital Push Yields Results: Sees 34% Jump in Licenses Issued

The Zimbabwe Investment and Development Agency (ZIDA) has successfully achieved its goal of fully digitalising its operations in the fourth quarter of 2024, according to its latest Q4 2024 report. Th

Jan 23, 2025

How Will Commodity Markets React to US Withdrawal from Climate Pact? Mixed Fortunes for Zimbabwe's Mining Sector

The United States President, Donald Trump, has withdrawn the United States from the Paris Agreement, citing national interests. Under the international climate accord, first negotiated in 2015, countr

Jan 22, 2025

MMCZ Appoints Nomusa Jane Moyo as New General Manager

The Minerals Marketing Corporation of Zimbabwe (MMCZ) has announced Dr. Nomusa Jane Moyo as its new General Manager, effective immediately. Dr. Moyo, who has been the Acting General Manager since July

Jan 22, 2025

TIMB Renews Tobacco License Application Deadlines

The Tobacco Industry and Marketing Board (TIMB) has announced new deadlines for license applications for both contractors buying and ‘A’ class buying licences. The dates have been moved to 31 March 2

Jan 21, 2025

Government’s ZiG Policies Half Baked-CZI

The Confederation of Zimbabwe Industries (CZI) has expressed concerns regarding the insufficiency of governmental initiatives aimed at stabilizing the local currency. In its recent report, "Inflation

Jan 20, 2025

Global Inflation Projections Diminish: IMF Revises Economic Growth Upwards, Sees Global Rates Falling in 2025

The International Monetary Fund (IMF) has revised its global economic growth forecast upward to 3.3% for 2025, driven primarily by an upward revision in the US economy, which offset downgrades in othe

Jan 20, 2025

Formalizing the Fringes: Can National Venture Capital Company of Zimbabwe Unlock Informal Sector Growth?

The Ministry of Finance in Zimbabwe has unveiled the National Venture Capital Company of Zimbabwe (NVCCZ), an ambitious initiative aimed at catalysing economic expansion through the provision of equit

Jan 17, 2025

‘Gold-Backed’ ZiG Falters: Accumulates 48% Loss Since Launch

The Zimbabwe Gold (ZiG) currency has exhibited a contrarian performance, depreciating to 26.2614 against the US dollar on January 17, 2024, thereby reversing the gains accrued in the preceding week.

Jan 17, 2025