The ‘stability’ of the Zimbabwe dollar against the United States dollar, brought about by the introduction of the foreign currency auction trading system in June last year has given monetary authorities confidence to introduce more banknotes to curb cash shortages for the convenience of the transacting public. Before the introduction of the forex auction floors, the […]
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Zimbabwe eyes elephant culling to feed starving communities
The Zimbabwean government is considering culling elephants to manage overpopulation and provide meat to communities facing food insecurity, according to Environment, Climate, and Wildlife Minister Dr Sithembiso Nyoni. This revelation came during a Parliamentary session on Tuesday when MP Joseph Bonda questioned the government’s strategy for controlling the growing elephant population. “With the elephant population […]
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ZAPU slams new ‘ZiG’, says faith in Zim’s currency requires legitimate elections
The ‘mother’ party ZAPU says as long as the country lacks legitimacy derived from free and fair elections, people will have no faith in a currency produced in Zimbabwe. On April 5, 2024, the new Reserve Bank of Zimbabwe (RBZ) governor, Dr John Mushayavanhu introduced a new “structured currency” called ZiG ( Zimbabwe Gold) in […]
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Half ZiG and coins to start circulating on April 30
Explainer: What is ZiG? The Reserve Bank of Zimbabwe (RBZ) in the 2024 Monetary Policy Statement introduced a new “structured currency” termed ZiG (Zimbabwe Gold) on April 5. A “structured currency” is a currency that is pegged to a specific exchange rate or currency basket and ZiG shall always be anchored and fully backed by […]
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Failure is what happens when schools are without teachers
THE poor national examination results achieved by students in Binga schools each year tell a story of an underfunded education system suffocating a hugely marginalised district. What makes it more deplorable is the fact that Binga, which is tipped to be Zimbabwe’s next tourism hub, is currently generating a lot of foreign currency for the […]
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Currency reform losses: Govt to compensate depositors, pensioners
The government will next year compensate bank depositors and pensioners for losses they incurred during the local currency reform process when financial authorities made a U-turn on the 1:1 exchange rate between the United States dollar and the bond note. In February 2019, the Reserve Bank of Zimbabwe introduced a market determined exchange rate through […]
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Matshetsheni villagers appeal for Zupco buses
By Vumani Mthiyane Matshetsheni villagers in Gwanda district are facing critical transport problems due to poor roads which has seen the few available transport operators taking advantage of the situation to charge exorbitant fares. Some of the villagers are forced to travel on foot to Gwanda town which is about 25km away. Transport operators charge […]
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Suspected counterfeit currency peddlers granted bail
Two members of a suspected fake foreign currency manufacturing syndicate were on Tuesday granted bail. The two were arrested last week after 18-year-old Chantel Thubelihle Sibalwa tried to buy food from a Chicken Inn outlet using a fake US$100 note. Sibalwa and her accomplice Onismus Zimunya (43), through their lawyer Bob Sansole of Sansole and […]
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Byo Police bust counterfeit money ring
Police detectives in Bulawayo swooped in on a house in Northend suburb on Thursday, where they found equipment believed to be used in manufacturing counterfeit money. This after an 18-year-old woman identified as Chantelle Sibalwa was arrested while trying to buy a take away meal at a Chicken Inn outlet along Fort Street using a […]
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Finance minister taken to task over Zim cash crisis
Members of Parliament (MPs) have taken Finance Minister, Mthuli Ncube, to task over Zimbabwe’s persistent cash crisis, with legislators demanding to know what was being done to address the situation. Since late 2018 when the Reserve Bank of Zimbabwe ordered a separation of local bank accounts from nostro, effectively reintroducing the Zimbabwe dollar, which had […]