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Zimbabwe's very own Emperor Nero is burning down povo's hovels to build palatial villas for filthy rich few
"The closer the collapse of the empire, the crazier its laws" Marcus Tullius Cicero. Well we in Zimbabwe are witness this first hand. Zanu PF introduced the new local currency insisting ...Published: 7 hrs ago | 174 | by Wilbert Mukori
Mnangagwa's govt to extend ZiG currency crackdown to shops
The government intends to expand its crackdown on street currency traders to include retailers, ensuring that goods and services are priced using only the official exchange rate of the new ZiG currenc...Published: 15 hrs ago | 437 | by Staff reporter
ZiG fails to break Zimbabwe's cash crunch
Informal traders at Harare's Mbare market, a bustling center of commerce generating millions of US dollars weekly, have revealed their ongoing struggle with a cash shortage, hitting women vendors the ...Published: 15 hrs ago | 215 | by Staff reporter
'Zimbabweans will stampede for ZiG by June'
Reserve Bank of Zimbabwe (RBZ) Governor, Dr. John Mushayavanhu has highlighted the impending surge in demand for the Zimbabwean dollar (ZiG) anticipated to occur by June. This surge is expecte...Published: 16 hrs ago | 2133 | by Staff reporter
FIU sufficiently resourced to fight ZiG saboteurs
The Financial Intelligence Unit (FIU), a division of the Reserve Bank of Zimbabwe (RBZ), is well-equipped with skilled personnel and advanced hardware to tackle financial crimes. Recent recruitment ef...Published: 17 hrs ago | 19 | by Staff reporter
Wicknell is bumping with the big boys
HE dropped out of school just before he turned 15 and went straight into employment as a wages clerk for a bus company, when, around 1997, he could barely read or write— let alone manage company rec...Published: 16 Apr 2024 at 19:15hrs | 863 | by Staff reporter
ZiG needs to be backed by RBZ discipline
According to the Reserve Bank of Zimbabwe (RBZ), a structured currency is a currency that is pegged to a specific exchange rate or currency basket and backed by a bundle of foreign exchange assets lik...Published: 16 Apr 2024 at 18:04hrs | 193 | by Zimbabwe Coalition on Debt and Development
RBZ is the problem not ZiG!
Before going to press on the Zimbabwe currency crisis, I had seven questions I wanted authoritatively answered. Professor Gift Mugano was the answer."Isn't he the one who is supposed to disapp...Published: 16 Apr 2024 at 17:58hrs | 144 | by Kenneth Mufuka
RBZ governor to unpack MPS in Bulawayo
The Zimbabwe Independent, in partnership with the Reserve Bank of Zimbabwe (RBZ), will tomorrow host an event in Bulawayo to unpack the 2024 Monetary Policy Statement (MPS).Other partners incl...Published: 16 Apr 2024 at 07:58hrs | 749 | by Staff reporter
Mthuli Ncube pleads for patience on ZiG
FINANCE minister Mthuli Ncube has pleaded for patience with the recently introduced Zimbabwe Gold (ZiG) currency amid an uproar from the public over the disruptions it has caused to transactions....Published: 12 Apr 2024 at 09:51hrs | 1174 | by Staff reporter
Zimbabwe central bank governor gets a rude awakening
BUSINESS executives yesterday gave Reserve Bank of Zimbabwe (RBZ) governor John Mushayavanhu a rude awakening after a snap survey which showed that they were not ready to support the new currency....Published: 12 Apr 2024 at 09:49hrs | 4521 | by Staff reporter
'Bond notes, Zimdollar had no backing'
BOND notes and the Zimdollar (ZWL$) did not have any backing during their tenure, the central bank has said, raising questions on the facilities that were bandied to be supporting the local currency....Published: 12 Apr 2024 at 09:49hrs | 1061 | by Staff reporter
Mnangagwa wants Zimbabweans to 'embrace, defend the ZiG'
Sustainable economic development can only be achieved through the use of a local currency which will stimulate economic growth and guarantee stability, President Mnangagwa has said.This follow...Published: 12 Apr 2024 at 09:47hrs | 377 | by Staff reporter
Zimbabweans told to approach banks for ZiG, USD
The Reserve Bank of Zimbabwe has enough reserves to satisfy the foreign currency requirements of all legitimate businesses and no company needs to go to the black market to pay for imports, RBZ Govern...Published: 12 Apr 2024 at 09:47hrs | 437 | by Staff reporter
Zimbabwe police to conduct blitz on street traders manipulating ZiG currency
Finance Minister Mthuli Ncube has announced plans for law enforcement crackdowns on black market traders accused of manipulating Zimbabwe's new structured currency, the Zimbabwe Gold (ZiG). This initi...Published: 11 Apr 2024 at 18:31hrs | 1713 | by Staff reporter
GMAZ endorses ZiG currency...boosts market sentiment
The Grain Millers Association of Zimbabwe (GMAZ) has become the first business organization to fully embrace and support the newly launched ZiG (Zimbabwe Gold) currency. This development has instilled...Published: 11 Apr 2024 at 12:04hrs | 2162 | by Mandla Ndlovu
US economist mocks Zimbabwe's new currency
United States economist Steve Hanke has derided Zimbabwe's latest currency introduction, the ZiG, asserting that the country's monetary policies resemble a merry-go-round. The ZiG, purportedly backed ...Published: 11 Apr 2024 at 08:50hrs | 3723 | by Staff reporter
'ZiG difficult to accept in US$-dominated market'
RESPECTED businessman and economist Nigel Chanakira says acceptance of the new currency, Zimbabwe Gold (ZiG), will be difficult given that the majority still prefer the greenback.The Reserve B...Published: 11 Apr 2024 at 08:45hrs | 624 | by Staff reporter
Community service for killing boyfriend
The High Court has sentenced a Kariba woman to 620 hours of community service after she fatally stabbed her jealous boyfriend with a broken beer bottle on the neck in front of police officers at the N...Published: 11 Apr 2024 at 08:43hrs | 727 | by Staff reporter
'Mushayavanhu must assert himself as independent'
Businessman and economist, Nigel Chanakira, says the new Reserve Bank of Zimbabwe governor John Mushayavanhu must assert himself as an independent central banker to stabilise the local currency....Published: 11 Apr 2024 at 08:43hrs | 297 | by Staff reporter
Zimbabwe banks, service providers successfully configure systems, processes to ZiG
OVER 90 percent of banking institutions and mobile bank service providers have successfully configured their systems and processes in line with the new monetary policy guidelines, paving the way for s...Published: 11 Apr 2024 at 08:39hrs | 250 | by Staff reporter
Zimbabwe leverages on resources for economic stability
The backing of Zimbabwe's currency by gold and strategic mineral reserves is reflective of the Second Republic's determination to ensure the country's natural resources are leveraged to advance sustai...Published: 11 Apr 2024 at 08:37hrs | 57 | by Staff reporter
Annual independent external audit for RBZ reserves
Independent external auditors shall audit Reserve Bank of Zimbabwe (RBZ) precious minerals and foreign currency reserves backing the country's new currency, Zimbabwe Gold (ZiG), once a year as part of...Published: 11 Apr 2024 at 08:32hrs | 75 | by Staff reporter
Heavily Militarised government is the reason for economic meltdown
I am compelled by love of my country to delve deep into the core issues that hinder progress and meaningful development including but not limited to the abuse of power and intimidation of citizens by ...Published: 10 Apr 2024 at 22:25hrs | 841 | by Sithembiso Hadebe
ZiG Currency: Catalyzing Zimbabwe's Middle-Income Pursuit - Empowering Economic Well-being
Zimbabwe has taken a crucial step in revitalizing the economy and instilling trust in the financial sector by introducing the groundbreaking Zimbabwean Gold-backed Dollar (ZiG) as the official replace...Published: 10 Apr 2024 at 22:17hrs | 284 | by Elvis Dzvene
RBZ pleads for ZiG acceptance as informal traders insist on US dollar
The Reserve Bank of Zimbabwe on Wednesday said the Zimbabwe dollar remains legal tender until April 30 following reports that informal traders are refusing to accept the currency for fear it will be w...Published: 10 Apr 2024 at 21:55hrs | 493 | by Staff reporter
Zimdollar remains legal tender until month-end
The Zimbabwe dollar remains legal tender for all domestic transactions until April 30, when the Zimbabwe Gold (ZiG) notes and coins will come into circulation, the Reserve Bank of Zimbabwe (RBZ) has s...Published: 10 Apr 2024 at 06:02hrs | 221 | by Staff reporter
'ZiG difficult to accept in US$-dominated market'
Businessman and economist Nigel Chanakira says acceptance of the new currency, Zimbabwe Gold (ZiG), will be difficult given that the majority still prefer the greenback.The Reserve Bank of Zim...Published: 10 Apr 2024 at 06:02hrs | 431 | by Staff reporter
Retailers, service providers switch to ZiG prices
SEVERAL businesses and key service providers had by yesterday successfully converted prices of their goods and services to the new Zimbabwe Gold (ZiG) currency to ensure smooth consumer transactions....Published: 10 Apr 2024 at 06:02hrs | 320 | by Staff reporter
Zimbabwe's new ZiG spins markets into trading disruptions and uncertainty
Zimbabwe's newly introduced ZiG currency is causing market disruptions and transaction bottlenecks despite central bank assurances that it is backed by gold and foreign currency reserves, amid sceptic...Published: 09 Apr 2024 at 06:24hrs | 1534 | by Staff reporter
Govt blitz as traders dump Zimdollar
THE Consumer Protection Commission together with the police and the Financial Intelligence Unit has launched a blitz on businesses refusing to accept the Zimdollar following the launch of a new curren...Published: 09 Apr 2024 at 06:22hrs | 1131 | by Staff reporter
ZSE rebases bourse to reflect ZiG
THE Zimbabwe Stock Exchange (ZSE) is re-basing all its indices following the introduction of a new currency, Zimbabwe Gold (ZiG), last week.ZSE said all the ZSE indices would be re-based to 10...Published: 09 Apr 2024 at 06:22hrs | 99 | by Staff reporter
Foreign currency dealers ditch trading spots
MOST illegal money changers popularly known as "Osiphatheleni" have abandoned their traditional trading spots in Bulawayo following the launch by the Government of the new gold-backed currency, the Zi...Published: 09 Apr 2024 at 06:20hrs | 783 | by Staff reporter
Zimswitch, EcoCash roll out new currency
FOLLOWING the unveiling of the new currency last Friday, the country's sole national payments platform and clearing house, Zimswitch, yesterday announced that it had completed the rollout of the ZiG p...Published: 09 Apr 2024 at 06:18hrs | 298 | by Staff reporter
Zimbabwe's structured currency: Here's the abracadabra
Against the backdrop of the inception of the supposedly gold-backed currency called the ZiG this week, there has been considerable confusion as to whether or not the Zig is a gold currency.For...Published: 08 Apr 2024 at 12:47hrs | 3633 | by Staff reporter
Money changers reject bond notes
Vendors in Harare have ceased accepting bond notes following the introduction of the new currency, the Zimbabwe Gold (ZiG) dollar, despite Reserve Bank of Zimbabwe (RBZ) Governor John Mushayavanu's an...Published: 08 Apr 2024 at 10:49hrs | 958 | by Staff reporter
Zimbabweans urged to have confidence in new currency
Measures announced by Reserve Bank of Zimbabwe (RBZ) Governor Dr John Mushayavanhu in his maiden monetary policy statement on Friday should go a long way in containing prices and reducing inflation, a...Published: 08 Apr 2024 at 10:43hrs | 181 | by Staff reporter
Zapu slams Zimbabwe's new currency ZiG
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 ne...Published: 07 Apr 2024 at 21:08hrs | 654 | by Staff reporter
Half ZiG and coins to start circulating on April 30
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 tha...Published: 07 Apr 2024 at 21:08hrs | 1684 | by Staff reporter
Mnangagwa given five days to reverse decision
Zimbabwe National Students Union (Zinasu) co-leaders Nesbert Munyuki and Valentine Ziko have written to President Emmerson Mnangagwa challenging his appointment of top banker John Mushayavanhu as new ...Published: 07 Apr 2024 at 11:27hrs | 12921 | by Staff reporter
Dear Reserve Bank of Zimbabwe (RBZ) Governor Dr John Mushayavanhu
Dear Reserve Bank of Zimbabwe, 1. Please hire a Comms team ASAP. 2. Part of fostering confidence is having timely, reliable, and accessible means of informing the public in advance of ...Published: 07 Apr 2024 at 11:21hrs | 1533 | by Anonymous
Zimbabwe's new currency chaos
ZIMBABWEAN consumers were yesterday left stranded after businesses suspended trading using the Zimbabwe dollar following the introduction of a new currency on Friday.Reserve Bank of Zimbabwe (...Published: 07 Apr 2024 at 10:35hrs | 1674 | by Staff reporter
RBZ boss appointment challenged in court
PRESIDENT Emmerson Mnangagwa's appointment of veteran bank John Mushayavanhu as the new Reserve Bank of Zimbabwe (RBZ) governor has been challenged by two university students, who allege that it contr...Published: 07 Apr 2024 at 10:33hrs | 452 | by Staff reporter
ZiG is putting lipstick on a pig, says Biti
The Reserve Bank of Zimbabwe (RBZ) on Friday introduced a new currency to be known as the ZiG, which stands for Zimbabwe Gold.RBZ governor John Mushayavanhu said the ZiG would be structured an...Published: 07 Apr 2024 at 10:31hrs | 3255 | by Staff reporter
New currency without public confidence won't solve crisis
The government of Zimbabwe through the Reserve Bank of Zimbabwe (RBZ) has launched a new currency, which it calls the Zimbabwe Gold (ZiG).We have been here before and it is key to understand i...Published: 07 Apr 2024 at 10:29hrs | 53 | by Mlondolozi Ndlovu
Zimbabwe currency crisis: Time to face the truth
THERE is, of course, no such thing as "a shortage of foreign currency".In open and disciplined markets, all that such a claim reflects is an over-valued local currency, whose managers resist t...Published: 07 Apr 2024 at 10:26hrs | 171 | by Obert Nyandoro
The Zimbabwe currency crisis as seen from abroad!
AS we go to press, US financial news media has become aware of the Zimbabwe financial crisis.Bloomberg news agency and the Financial Times have reported authoritatively on the events surroundi...Published: 07 Apr 2024 at 10:25hrs | 250 | by Kenneth Mafuka
New Zimbabwe central bank boss talks tough
RESERVE Bank of Zimbabwe (RBZ) governor John Mushayavanhu on Friday declared that he will protect the central bank from external forces to maintain its independence.But analysts were quick to ...Published: 07 Apr 2024 at 10:23hrs | 275 | by Staff reporter
How Mushayavanhu just removed zeroes from dying currency
Reserve Bank of Zimbabwe governor John Mushayavanhu has issued his maiden monetary policy statement, bringing with him a new gold-backed currency and promises to end the money-printing that tanked the...Published: 07 Apr 2024 at 10:19hrs | 309 | by Staff reporter
Zimbabwe's new currency greeted with pessimism
The new currency introduced by the Reserve Bank of Zimbabwe (RBZ) on Friday has been branded old wine in new bottles by economists and financial experts who doubt that it will stand the test of time....Published: 07 Apr 2024 at 10:18hrs | 206 | by Mthandazo Nyoni
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