Search results for 'foreign exchange'
Zimbabwe
Zimbabwe's Inflation Flatlines at 0% in June

Zimbabwe's month-over-month headline inflation rate moderated to a zero percent print in June 2024, having receded from the prior negative territory of -2.4% observed in May, according to the nation's

Jul 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
Zimbabwe’s Biggest Corporate Suffers Earnings Dip: Profit Falls Sharply

Zimbabwe's largest corporate entity, Zimbabwe Platinum (Zimplats), has reported a significant decline in earnings for the financial year ended 30 June 2023 attributed to a confluence of factors, inclu

Aug 21, 2024
Zimbabwe
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
Zimbabwe
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
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 Limits Forex Withdrawals Abroad to US$2k: What it Means, Implications

The Reserve Bank has taken decisive action to curb capital flight and stabilize the formal economy by reducing the amount of foreign currency individuals can take out of the country from US$10,000 to

Sep 30, 2024
Zimbabwe
Smoke and Mirrors? ZiG Strengthens for Third Consecutive Day, Takes in 9% Gains

The Zimbabwe Gold (ZWG) currency has exhibited an appreciation on the formal market, recording its third consecutive gain on November 6, 2024. The currency surged 3% from 26.99 to 26.01, translating

Nov 06, 2024
Zimbabwe
RBZ Introduces Targeted Finance Facility to Ease Liquidity Crisis

The Monetary Policy Committee (MPC) of the Reserve Bank of Zimbabwe has introduced a Targeted Finance Facility (TFF) In a bid to alleviate the current liquidity crisis on targeted sectors. This facil

Dec 04, 2024
Zimbabwe
ZiG Faces 47% Erosion in Value Against US Dollar

he local currency has experienced a 47% depreciation against the US dollar since its introduction, as reported by the Reserve Bank of Zimbabwe (RBZ). The Zimbabwe Gold (ZiG) is now trading at a rate o

Dec 09, 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