Zimbabwe

Zimbabwe

ZiG's Downward Trajectory: Following Its Predecessors into Abyss of Failure

The Zimbabwe Gold (ZiG), the country’s latest currency initiative, appears to be one of the most ill-fated ventures in recent years, especially when compared to its predecessors: Bond Notes, RTGS, and

Sep 23, 2024
Zimbabwe
ZiG Faces Imminent Collapse: RBZ Injects $64 Million in Ongoing Efforts

The Reserve Bank of Zimbabwe has injected US$114 million into the forex market to meet rising demand for foreign currency and stabilize the run-away ZiG. In a statement, RBZ said US$50 million was inj

 Sep 20, 2024
Zimbabwe
Zimbabwe's Power Crisis Deepens: Hwange Units 7, 8 Go Offline

Zimbabwe's electricity prospects have taken a hit as Hwange Units 7 and 8 undergo Class C maintenance, a statutory requirement that will take 600 megawatts off the national grid. This is a substantia

 Sep 17, 2024
World
Zimbabwe Ranked Worst Investment Country in Africa

South Africa's Rand Merchant Bank conducted research on 31 African countries, producing a ranking chart for the best and worst places for investment among these nations. President Mnangagwa, upon ass

 Sep 16, 2024
Zimbabwe
ZimAlloys Roars Back: Ferrochrome Production Resumes After 10 Years

Zimbabwe Alloys Limited (ZimAlloys) has resumed production years after shutting down its furnaces according to the compan’s Managing Director, Deric Dube. A registered company in Zimbabwe, ZimAlloys s

 Sep 16, 2024
Zimbabwe
ZiG Battles On: Edges 14 Mark per Dollar

The Zimbabwe Gold (ZiG) experienced a notable decline on September 13, 2024, trading closer to ZWG14 per US dollar, marking one of its worst performances to date. This follows a weekly loss, with the

 Sep 13, 2024
Zimbabwe
Local Telecom Providers on Brink: Will They Survive Starlink's Arrival?

On 10 September 2024, Zimbabwe's telecommunications regulator, the Postal and Telecommunications Regulatory Authority of Zimbabwe (POTRAZ), announced the licensing of Starlink within the country. In

 Sep 12, 2024
Zimbabwe Introduces $5k Penalty for Telecoms with Subpar Network Quality

The government has implemented stringent penalties for network service providers, imposing fines of up to US$5,000 for poor-quality services. The country boasts a competitive telecommunications indus

Sep 09, 2024
ZiG Starts September on Lower Note

Zimbabwe Gold (ZiG) has opened the first week of September on a lower note, trading at 13.8603, down from 13.8546 on August 30, 2024. Further declines have been observed, with the rate weakening to Z

Sep 05, 2024
Forum on China-Africa Cooperation: Zim Seals Historic Avocado Exports Deal with China

Zimbabwe has signed a historic trade deal that paves the way for its avocados to be exported to the Chinese market for the first time during the Forum on China-Africa Cooperation (FOCAC) in Beijing.

Sep 05, 2024
ZiG’s Recovery Path: RBZ Implements Additional Measures to Sanitise Foreign Exchange Transactions

The Reserve Bank of Zimbabwe has passed extra measures to sanitize the exchange control directives through enhancing transparency and efficiency in foreign exchange transactions to support Zimbabwe Go

Sep 04, 2024

Lithium Market Turmoil: Zimbabwe's White Gold Rush

Lithium carbonate prices have plummeted to CNY 75,000 per tonne equivalent to US%10.5k , marking the lowest level in over three years amid increasing fears of oversupply. Miners are ramping up product

Sep 03, 2024

Zimbabwe's Currency Crisis: Premium At 74% Despite US$190 Million Injection

Central Bank has injected US$190 million into the market to stabilize the exchange rate madness that has plagued Zimbabwe's economy. This move is part of a broader strategy to curb the volatility tha

Sep 03, 2024

Zimbabwe Bans Unleaded Petrol: A Move Towards Sustainable Biofuels

The government has announced a ban on the sale of unleaded petrol, mandating that all petrol be blended with ethanol. This regulation, effective next week, is a pivotal step in the country’s energy s

Aug 30, 2024

RBZ’s Latest MPS Review: Steady Policies, Minor Shifts

the Reserve Bank of Zimbabwe (RBZ) has announced its mid-term monetary policy statement, with no major shifts. The main bank rate remains unchanged, along with the interest rate corridor and statutor

Aug 30, 2024

ZiG Fails to Overturn Weekly Deficits

Zimbabwe Gold (ZiG) traded at 13.8388 on the 29th August 2024, up from 13.8076 on August 22, extending its weekly declines into months. In the latest trade, the ZiG exhibited a week-on-week drop of 0

Aug 29, 2024

A Nation Plunged into Darkness: What are Government’s Initiatives to Alleviate Power Crisis?

Zimbabwe is currently struggling with power blackouts due to recurring drought spells that are hindering power production at Kariba Dam. As of August 19, 2024, water levels have plummeted to a critica

Aug 29, 2024

ZiG Encounters Inaugural Inflation Surge, Highest Since Launch

n a sign of mounting economic pressures, the August 2024 inflation rate for Zimbabwe's national currency, the Zimbabwe Gold (ZiG), hit a new high, marking the first time the legal tender has seen sign

Aug 27, 2024

Gold Exports Recover in July, Boosts Latest Trade Performance

Zimbabwe's gold exports in July 2024 contributed 34.2% to the total exports, according to the latest Zimstat's trade report. This output increased from 30.5% in June exports. However, it was still lo

Aug 27, 2024