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Zimbabwe

US AFRICOM Chief Denies Zimbabwe’s Claim Of Base In Zambia

GENERAL Michael Langley, head of US Africa Command (AFRICOM), refuted claims by Zimbabwean officials that the United States is establishing a military base in neighbouring Zambia. During an online press briefing from the African Chiefs of Defence Conference in Botswana,…

Zimbabwe To Join BRICS Economic bloc, says President Mnangagwa

ZIMBABWE’S President Emmerson Mnangagwa has announced that his country will soon join the BRICS economic bloc. The announcement came after Mnangagwa attended an economic forum in Russia, where he discussed Zimbabwe’s membership aspirations with key leaders of the bloc. BRICS,…

Zimbabwe Acts To Address ZiG Currency Shortage And Inflation

ZIMBABWE’S central bank is taking action to mitigate a shortage of the newly introduced Zimbabwe Gold (ZiG) currency, addressing concerns that the scarcity is affecting daily transactions. Launched on April 5, the gold-backed ZiG aims to curb inflation and promote currency…

Zimbabwe Urges Gold Miners To Boost Output For New Currency

ZIMBABWE has called on gold miners across the country to ramp up their output in support of the recently launched ZiG currency. Mines and Mining Development Minister Winston Chitando highlighted this initiative during a meeting with miners in Harare on Monday….

Zimbabwe Pursues Local Lithium Production Boost

ZIMBABWE, Africa’s leading lithium producer, is intensifying efforts to refine battery-grade lithium domestically, aiming to strengthen its economy. According to a government official on Monday, four prominent lithium mining companies have presented proposals to commence production of battery-grade lithium within the…

Zimbabwe Penalises Businesses Over Currency Rates

IN a bid to stabilise its newly introduced gold-backed currency, the Zimbabwe Gold (ZiG), Zimbabwean authorities have announced fines for businesses found using inflated exchange rates. Reuters cites a government notice that says any business using an exchange rate higher than the official rate of…

Zimbabwe’s New Currency, ZiG, Posts Strong Debut Week

ZIMBABWE’S latest currency, the Zimbabwe Gold (ZiG), has made an impressive debut, marking a 1.1 percent increase against the US dollar within its first week of trading. This development comes amidst heightened global tensions, propelling gold prices upwards and fostering investor…

Zimbabwe Retailers Switch To US Dollars Amid Transition To New Currency

ON Saturday, major retail shops in Zimbabwe began trading predominantly in United States dollars as financial institutions suspended the use of the outgoing Zimbabwean dollar (ZWL) in anticipation of the new Zimbabwe Gold (ZiG) currency introduced on Friday. At Westgate…

Zimbabwe Launches New Currency, ZiG, To Address Economic Turmoil

ZIMBABWE unveiled a new currency, ZiG, on Friday in a strategic move to confront the country’s persistent economic challenges marked by currency depreciation and rejection. Reserve Bank of Zimbabwe Governor John Mushayavanhu announced the launch of ZiG, backed by gold reserves and…

Zimbabwe Central Bank Reveals 2.5 tons Of Gold Reserves Ahead Of Currency Rollout

ZIMBABWE’S central bank has disclosed a notable gold reserve of 2.5 tons, setting the stage for the introduction of a gold-backed currency amid ongoing economic reforms. The announcement, made on Thursday, underscores the government’s efforts to stabilise the country’s monetary…