Zimbabwe

Zimbabwe

Can Zim's Latest Mine-to-Market Plan Curb Gold Smuggling Epidemic?

The country's dominant gold buyer Fidelity Printers and Refiners will introduce a system to trace the supply of gold from mines to the market on the 30th of September 2024 to curb gold smuggling. Min

May 23, 2024
Zimbabwe
ZiG Firms 1% Week-on-Week on Formal Market, Struggles to Stabilise on Black Market

imbabwe Gold (ZiG) has sustained stability after gaining 1% on the formal market (FM) rate, which is being pegged by the government. The ZiG traded at ZiG13.3976 on May 17, 2024, from ZiG13.5326 in th

 May 17, 2024
Zimbabwe
Government Rejects ZiG Payments for Passports: Headlines ZiG’s Premature Death

Zimbabwe's economic landscape is currently dominated by discussions surrounding the introduction of a new currency called Zimbabwe Gold (ZiG), which the government claims is backed by gold and US doll

 May 15, 2024
Zimbabwe
A Sweet Spot: Zimbabwe's Sugar Sector Eyes Global Markets

"Post forecasts that sugar cane production will increase by 1% to 3.5 million metric tons (MT) in marketing year 2023/24, while sugar production is expected to rise by 3% to 410,000 MT," the report st

 May 14, 2024
Zimbabwe
Old Wine in New Bottles: Gvt Imposes ZiG 200k Fine for Violating Formal Market Rate Pricing

The introduction of the ZiG currency in Zimbabwe's ongoing currency struggle has been met with a wave of pessimism, much like its predecessor, the Zimbabwe Dollar. In just a month since its inception,

 May 10, 2024
Zimbabwe
ZiG's Premature Death?: Parallel Market Maintains Rate Madness

The currency crisis in Zimbabwe remains a significant concern, with Zimbabwe Gold (ZiG) facing potential premature failure. We closely monitor the performance of ZiG against the US dollar on both the

 May 10, 2024
World
Zimbabwe's Hunger SOS: UN Unveils Funding Lifeline for Starving Millions

he United Nations has launched a humanitarian appeal for US$429 million to address the severe hunger crisis affecting an estimated 7 million Zimbabweans, approximately half of the country's population

 May 09, 2024
Zimbabwe’s Maize Harvest Plummets 70% Accelerating Hunger Fears: Immediate Implications

Zimbabwe is facing a dire agricultural crisis as the Ministry of Agriculture reports an estimated staggering 70% decrease in maize harvest for the farming season 2023/2024 compared to the previous sea

May 09, 2024
ZiG Emerges Strongest Currency in SADC: Fact or Fallacy?

Zimbabwe's currency, Zimbabwe Gold (ZiG), has emerged as the strongest currency in the Southern African Development Community (SADC) region. It traded at ZiG13.4190 per dollar, surpassing the South Af

May 03, 2024
RBZ Holds Interest Rates Steady, ZiG Notes Debuts Market Today

he Reserve Bank of Zimbabwe (RBZ) has maintained the interest rates at 20% during its most recent monetary policy committee meeting, which took place yesterday. This meeting was significant as it was

Apr 30, 2024
Zimbabwe’s Exports Plunge by 17%, Trade Deficit Widens

The month of March witnessed a significant surge in trade deficit, exceeding 100% and reaching a total of US$184.3 million according to the latest data released by ZimStat. The trade deficit for goods

Apr 30, 2024

Gold Price Drops as Stable US$ Dulls Appeal, Zim to Leverage Gold Reserves for Growth

The price of gold dropped below US$2,330 per ounce today attributed to a stable US dollar, which made gold less attractive to international buyers as investors were eagerly awaiting the Federal Reserv

Apr 29, 2024

ZiG Notes Rollout: Government Sets Withdrawal Limits

Zimbabwe's central bank, the RBZ, has announced the withdrawal limits for the new currency, Zimbabwe Gold (ZiG), which will enter circulation on April 30, 2024. To ensure a controlled initial rollout

Apr 29, 2024

ZiG Holds Ground on Formal Market

Zimbabwe's latest introduced gold-backed currency, the Zimbabwe Gold (ZiG), has demonstrated stability on the official market since its inception, maintaining its value for almost a month. On the 26th

Apr 26, 2024

Corporate Action Summary

The Board of Directors of First Capital Bank declared a final dividend of US$ 0.22 cents per share for the period ended 31 December 2023. The dividend will be paid on or about the 10th of May, 2024, t

Apr 22, 2024

Recipe for Failure: Government Implements Coercive Monetary Policy

The Zimbabwean Government's introduction of the Zimbabwe Gold (ZiG) currency has shown initial signs of stability and acceptance in the business community. Initially trading at US$1: ZiG13, the ZiG h

Apr 22, 2024

ZiG Currency Conundrum: Government Cracks Down with Iron Fist to Tackle Black Market

Zimbabwe's newly introduced currency, the Zimbabwe Gold (ZiG), has experienced appreciation on the formal market on April 18, 2024, maintaining a consistent streak of appreciation. Since its introduct

Apr 18, 2024

Corporate Action Summary

General Beltings Holdings Limited announced that it sought and was granted by the Zimbabwe Stock Exchange (ZSE) the authority to delay the publication of its Audited Financial Results for the year end

Apr 15, 2024

Zimbabwe to Ensure Smooth Online Payments from Friday

In a circular released by the Reserve Bank, John Mushayavanhu, the Governor of the Central Bank, has announced that all online payment platforms will operate smoothly for all transactions starting fro

Apr 09, 2024