Search results for 'currency crisis'
Companies
Economic Storm Tests: BAT Remains in Smoke

Cigarettes manufacturer, British-American Tobacco has reported a 7% decline in sales volumes during the third quarter ended 30 September 2023 according to the Group’s latest trading update. However, d

Oct 27, 2023
Zimbabwe
Starlink Faces Price Hurdle in Zimbabwe as Telecom Operators Seek Relief

TOAZ casts doubt on the suitability of low-earth-orbit (LEO) satellite systems, popularized by firms like Starlink, as a broad solution for Zimbabwe.  The association says high costs are likely to lim

Apr 04, 2024
Zimbabwe
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
Zimbabwe
Stormy August Batters ZiG: Devaluation Headlines the Month

he Zimbabwe Gold (ZiG) has recorded a poor performance in July 2024. It started trading in April 2024 at a high of 13.56 ZiG per US dollar, but by the end of July 2024 had fallen to 13.79 per dollar.

Aug 01, 2024
Companies
Willing Buyer, Unwilling Seller: CAFCA Faces USD Crunch Despite Strong Domestic Performance

CAFCA Limited Zimbabwe has faced significant foreign currency challenges in the third quarter of 2024 ended 30 June, leading to depressed export volumes. Despite this, domestic sales increased by 21%,

Aug 20, 2024
Zimbabwe
ZiG Extends Weekly Losses: A Currency in Crisis?

The Zimbabwe Gold (ZiG) traded at 13.8076 from 13.7863 on the 15th of August last week, continuing the downward trend observed in July 2024. This decline, coupled with the alarming situation on the p

Aug 22, 2024
Zimbabwe
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
Currency Hypocrisy: Are Monetary Gaffers Taking a Local Pay-check, in ZiG?

From 26.65 last week, the Zimbabwe Gold (ZiG) has further depreciated to 27.44 on a week-on-week basis, according to the latest data released by the Central Bank. Since its devaluation of 43% in a sin

Oct 24, 2024

Top Stories

A Looming Dark Christmas: Zimbabwe's Power Sector in Shambles

Zimbabwe is likely to face a dark festive season due to persistent power outages. The continued nationwide blackouts and inadequate power generation, which fails to meet demand, support this predicti

Dec 18, 2024

Zimbabwe Achieves Wheat Self-Sufficiency Setting New Record: A Closer Look

Zimbabwe's agricultural sector has achieved a landmark milestone, with the country's wheat harvest reaching an unprecedented 563,961 metric tons (MT) as of the latest update. This is according to the

Dec 18, 2024

Drought Threatens Regional Power Supply: What Lake Cahora Bassa's Water Level Erosion Means for Zimbabwe

Zimbabwe's struggles with power challenges have extended beyond its borders, affecting one of its key electricity import sources. The Cahora Bassa dam in Mozambique's Tete province has reached a crit

Dec 17, 2024

Tanganda Returns to Profitability as Avocado ,Tea Booms

Tanganda Tea, a company listed on the Zimbabwe Stock Exchange (ZSE), has made a remarkable turnaround, recording a profit after tax of USD1.4 million for the year ended 30 September 2024. This is a si

Dec 16, 2024

Zimbabwe's Power Supply Plummets to Lowest Level in Over 12 Months

Zimbabwe's power generation has plummeted to its lowest level in over 12 months, with daily electricity production hitting a dismal 736 MW on December 16. This marks a new low for 2024, surpassing the

Dec 16, 2024

Zimbabwe’s Electricity Import Bill Jumps 45% in Q3

The Zimbabwe National Statistics Agency (Zimstat) has revealed a significant 45% uptick in electricity imports, with the country bringing in 611.1 gigawatt-hours (GWh) during the third quarter of 2024

Dec 16, 2024

Government Seeks Bigger Slice of Mining Pie: Is the 26% Proposed Stake Feasible?

Last week, in an interview with global media outlet Bloomberg, the government hinted at plans to introduce a 26% shareholding in all future mining projects and also negotiate with the already settled

Dec 16, 2024

28 Zimbabwe-Linked Gold Mafia Members Placed on U.S. Sanctions

The United States and United Kingdom have imposed stringent sanctions on individuals implicated in gold smuggling and money laundering operation based in Zimbabwe, effective December 9, 2024.

Dec 10, 2024