The Zimbabwean government plans to borrow ZW$ 9 trillion, approximately US$640 million, primarily from the domestic market to address its 2024 budget deficit. This strategy, detailed in the 2024 Annual Borrowing Plan, includes issuing Treasury bills and bonds and relying on both existing and new external loans. Concerns arise over the government's increasing debt, which could lead to economic instability, higher inflation, and crowding out of the private sector. As of September 2023, Zimbabwe's total public debt stood at US$17.7 billion, with significant portions owed to bilateral and multilateral creditors and the Reserve Bank of Zimbabwe.

The Zimbabwe Dollar (ZWL) is predicted to accelerate its decline in 2024 due to fiscal and monetary pressures, according to Morgan & Co. The Central Bank's efforts to curb inflation have had limited success, and the economy faces a severe liquidity crunch. The widening gap between official and parallel market rates is expected to trigger further devaluation of the ZWL, leading to sustained inflationary pressures. The report estimates ZWL inflation to be between 550% and 600%, far higher than official figures. The Central Bank has not announced plans to introduce higher denomination notes, exacerbating the currency's depreciation.

The 13th edition of Shoko Festival, Zimbabwe's longest-running festival of urban culture, begins today in Harare and Chitungwiza, running from September 28 to 30 under the theme 'The TakeBack.' The festival includes a Hub Unconference with discussions on AI, social movements, and rural media innovation, augmented reality exhibitions, performances, a Poetree Slam, gaming events, and the roast of entrepreneur Kuda Musasiwa. The Peace in the Hood concert will close the festival, featuring artists like Gemma Griffiths and Nutty O.

The 13th edition of Zimbabwe's Shoko Festival, focusing on reclaiming youth space, will take place from September 28-30, 2023, in Harare and Chitungwiza. The festival will feature headline acts such as Bling4, Gemma Griffiths, Nutty O, Xabiso Vili, and Jordan Moozy. The event will include a variety of performances, thought-provoking talks, and comedy, aiming to inspire and empower young Zimbabweans. Highlights include Mash Up Night, the Shoko Roast, and the closing event, Peace In The Hood. The festival remains committed to providing a platform for both emerging and established artists.

The Reserve Bank of Zimbabwe (RBZ) has increased the main policy rate to 150 percent from 140 percent to stabilize the foreign exchange market amid soaring inflation. This marks the third interest rate adjustment this year. The Zimbabwe dollar has significantly devalued, losing 91 percent of its value annually. The RBZ also raised the Medium-term Bank Accommodation interest rate and Statutory Reserve Requirements on local currency deposits. Measures include selling foreign currency at market-determined rates through banks and increasing interbank trading limits to ensure the interbank forex market is self-financing.

A delegation of Zimbabwean business executives from the CEO Africa Roundtable will visit the United States from June 7th to 17th for business interfaces with global peers and the Zimbabwean diaspora. The delegation will attend the Las Vegas International Licensing Expo 2023 and visit the Coca Cola Bottling Company for an educational tour. They will also tour the head offices of CNN. The visit aims to foster business relationships and provide educational opportunities for the delegates.

Fastjet has introduced the first of three Embraer 120 aircraft to service new domestic routes to Kariba and Hwange National Park, expanding its domestic destinations in Zimbabwe to five. This development is expected to significantly boost domestic tourism by improving air connectivity. The Airports Company of Zimbabwe has expressed strong support for the initiative, highlighting the potential for increased use of the country's smaller airports. Fastjet also operates international flights to South Africa and Botswana and has received multiple awards for its services.

Econet Wireless Zimbabwe is struggling with foreign currency shortages, impacting its ability to service network suppliers and invest in maintenance and expansion. Persistent power cuts have exacerbated the situation, necessitating investment in alternative energy sources like solar, which also require significant foreign currency. Despite these challenges, Econet saw a notable increase in voice and data volumes and a 9% revenue growth in inflation-adjusted terms for the nine months ending November 2022. The Reserve Bank of Zimbabwe's assistance with foreign currency has been insufficient to meet local industry needs.

Tigere Property Fund, Zimbabwe's first real estate investment trust (REIT), has declared a maiden dividend of US$ 152,577 and an additional ZW$ 75,816,772. Listed on the Zimbabwe Stock Exchange on November 30, 2022, it is expected to reach full occupancy by Q1 2023. Brett Abrahamse of Terrace Africa Asset Management highlighted the REIT's performance and its future prospects, including a property development pipeline with a luxury hotel, office park, and shopping mall. The dividend is payable on February 24, 2023, to holders registered by February 17.

Economic research firm Morgan & Co forecasts a challenging economic outlook for Zimbabwe in 2023, driven by political tensions and historical economic headwinds. The report warns of potential volatility due to the upcoming general elections, with implications for inflation, interest rates, and investor sentiment. Zimbabwe's economy faces significant challenges, including a weak currency, energy crisis, and policy inconsistencies. Political violence, as seen in past events, is likely to resurface, impacting economic stability. Recent incidents of violence against opposition party members underscore the brewing political tensions.