Search results for 'gold smuggling'
Zimbabwe
Gold Exports Plummets Amid Mounting Forex, Currency Crises

Zimbabwe's gold exports decreased from 23.6 kilograms in March to 20.8 kilograms in April according to the latest data released by ZIMSTAT. This marks a continued decline in gold's dominance as the co

May 30, 2024
Zimbabwe
Zimbabwe Zero Rates Gold Deliveries: Uncovering Incentives Behind the Policy Shift

The government has implemented a zero-rating policy for gold deliveries to Fidelity, the state-owned gold buying entity. This policy change comes after gold deliveries have been sustaining a downward

Jun 13, 2024
Companies
Is Caledonia Loosing Grip to Padenga?

Caledonia Mining Corporation, the second-largest gold producer in the country, has reported a 19% increase in gold output during the second quarter of 2024, reaching 588.9 kilograms. This performance

Jul 15, 2024
Companies
Auditor General's Report Exposes Widespread Parastatal Graft

Since attaining independence, one of the major problems Zimbabwe has been facing is corruption. The issue dates back to the Willowgate Car scandal in 1988, which implicated top government officials. T

Jul 15, 2024
Mining
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

Top Stories

Old Mutual ,DHL Join Forces to Foster Entrepreneurial Ecosystem in Zimbabwe

Old Mutual Zimbabwe, a leading financial services group through its Old Mutual Zimbabwe’s Eight2Five Innovation Hub has joined forces with DHL GoTrade to bolster small and medium-sized enterprises (SM

1 hour ago

US New Tariffs on Steel, Aluminium Send Gold Prices Soaring Above US$2,900/oz

Gold prices reached a new record high of 2,917.90 per ounce on the 10th of February 2025, driven by the U.S. President’s trade war, which is targeting both allies and adversaries. This surge followed

19 hours ago

Zimbabwe's Forex Receipts Hit New Record, Surpass US$13 Billion

Zimbabwe's foreign currency inflows surged to a record high of US$13.3 billion in FY2024, representing a 21% year-over-year (YoY) growth from US$11 billion in FY2023. The robust performance was prima

20 hours ago

ZiG Weekly Review: RBZ Implements Strategic Policies to Stabilise ZiG

The Zimbabwe Gold (ZiG) experienced a downward trajectory over two consecutive weeks, depreciating to 26.4072 against the US dollar on February 7, 2025, from 26.3656 on January 31, 2025, reflecting a

23 hours ago

No POS Machine, No Licence, No Bank Account, No Licence: RBZ Commands

he Reserve Bank of Zimbabwe (RBZ) has introduced a transformative policy aimed at formalizing the informal trading sector and promoting digital transactions. Effective immediately, local authorities

Feb 07, 2025

RBZ Takes More Forex from Exporters: 2025 MPS Review and Analysis

The highest banking authority, Reserve Bank of Zimbabwe released its 1HY2025 Monetary Policy Statement on the 6th of February 2025, articulating monetary development and policies that will underpin th

Feb 07, 2025

ZERA Hikes February Fuel Prices for Both Petrol and Diesel by 3.4%

imbabwe Energy Regulatory Authority (ZERA) has increased  fuel prices for the month of February, from January in US dollar terms effective 5 February 2025. Petrol prices increased by 3% to  $1.53 per

Feb 06, 2025

Anglo American Platinum Forecasts Earnings Plunge of Between R7.6 Billion to R9.0 Billion in FY2024

The platinum group metals (PGM) sector continues to face significant headwinds, with declining prices and operational challenges weighing heavily on producers. Anglo American Platinum, the world’s lea

Feb 06, 2025