Zimbabwe

Zimbabwe

Gold Deliveries Plunge 5% YoY in May

Amid a foreign currency crunch and the instability of the ZiG currency exchange rate which requires immense gold backing, Zimbabwe's gold deliveries have continued to plummet according to the latest d

Jun 07, 2024
Zimbabwe
RBZ Partners Homelink to Solve ZiG Cash Crisis: A Swing or Sink Idea?

he government has partnered with Homelink, a financial services company, to address the ZiG cash crisis that has bewildered the economy. This crisis has led to a rounding up of previously valued produ

 Jun 06, 2024
Zimbabwe
What Does Revival of Bilboes Mean for Zim's Gold Arena in Near and Long Term?

Caledonia Mining Corporation has announced that it will revive the Bilboes Mine operations in Zimbabwe through a single-phase development approach, a decision expected to provide improved cash generat

 Jun 05, 2024
Zimbabwe
ZERA Hikes Petrol Prices Despite Global Oil Slump

Zimbabwe Energy Regulatory Authority (ZERA)has increased the fuel prices for the month of June, up from May prices for petrol and diesel in US dollar terms. This is despite global brent crude futures

 Jun 05, 2024
Zimbabwe
Econet Pays 3.8 Trillion in Taxes to Government

Econet Wireless Zimbabwe, the country's largest telecom operator, contributed a staggering ZWL3.8 trillion to the government and statutory bodies in the fiscal year ended February 29, 2024. This figur

 Jun 03, 2024
Zimbabwe
Black Market Balloons as Government's ZiG Currency Gamble Backfires

During the last week of May, we continued to monitor the movement of the ZiG currency against other currencies in both the government-regulated formal exchange rate and the market-determined parallel

 Jun 01, 2024
Zimbabwe
Drought Dries Up Zim's Economic Hopes: GDP Downgraded to 2%

Zimbabwe's economic growth forecast for 2024 has been slashed to 2%, down from the initial projections of 3.6%. This downward revision is primarily due to the impact of the ongoing drought in the regi

 May 31, 2024
Zimbabwe's Trade Woes Deepen as Deficit Balloons in April

Zimbabwe's trade deficit for April widened to $256.9 million, a 37.9% increase from the $186.3 million deficit recorded in March 2024. This marked the fourth consecutive month of Zimbabwe trading in t

May 31, 2024
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
Lithium's Wild Ride: Zimbabwe Lithium Ambitions Disrupted by Volatile Global Markets

As the world grapples with geo-economic fragmentation due to the Middle East's crisis and the Russia-Ukraine War, the future of lithium remains uncertain. Despite the global push for a carbon-free eco

May 29, 2024
Pick n Pay Announces Major Recapitalization and Potential Boxer Spin-Off

Pick n Pay, the prominent South African grocery and retail group which has a partnership with TM Supermarkets in Zimbabwe, a Meikles subsidiary, has unveiled a significant strategic plan that could re

May 29, 2024

Zim Boasts Region's Highest Fuel Prices, Sweats Truck Businesses

Despite the challenging economic environment marked by inflationary pressures and exchange rate volatility in Zimbabwe, the country still boasts the most expensive fuel prices in the Southern African

May 28, 2024

Revitus Drives CBD Revival, Eyes Turnaround of Iconic Assets

In a strategic bid to combat the exodus of companies from central business districts (CBDs), Revitus Property Fund has doubled down on its mission to revitalize aging CBD properties and breathe new li

May 27, 2024

The Tug-of-War Between Official and Black Market: ZiG Sustains 'Massaged' Gains on Official Market

The Zimbabwe Gold (ZiG) traded at ZiG13.2183 on May 24, 2024, moving up from a low of ZiG13.3976 the previous week. This represented a 1 percentage point decrease from the prior week. The ZiG, which

May 24, 2024

“Enough ZiG Cash is there, Approach Banks for Easy Transactions”

he Reserve Bank of Zimbabwe (RBZ) has urged the public to approach their banks and withdraw ZiG coins and smaller denomination notes for their own transactional convenience, according to the latest pr

May 24, 2024

ZINARA Disburses ZWL235 Billion for Road Maintenance in Q1 2024

Zimbabwe's National Roads Authority (ZINARA) has disbursed a total of ZWL235 billion (ZiG 93,952,017.31) in the first quarter of 2024 according to its latest report. The larger proportion of this disb

May 23, 2024

Can Zim's Latest Mine-to-Market Plan Curb Gold Smuggling Epidemic?

The country's dominant gold buyer Fidelity Printers and Refiners will introduce a system to trace the supply of gold from mines to the market on the 30th of September 2024 to curb gold smuggling. Min

May 23, 2024

ZiG Firms 1% Week-on-Week on Formal Market, Struggles to Stabilise on Black Market

imbabwe Gold (ZiG) has sustained stability after gaining 1% on the formal market (FM) rate, which is being pegged by the government. The ZiG traded at ZiG13.3976 on May 17, 2024, from ZiG13.5326 in th

May 17, 2024

Government Rejects ZiG Payments for Passports: Headlines ZiG’s Premature Death

Zimbabwe's economic landscape is currently dominated by discussions surrounding the introduction of a new currency called Zimbabwe Gold (ZiG), which the government claims is backed by gold and US doll

May 15, 2024