Marshall Bwanya is a journalist based in Harare, Zimbabwe.

CBZ announces leadership changes as company embarks on expansion drive

01 Oct 2023  |  Zimbabwe News Now  |  English  |  Business Expansion

CBZ Holdings, Zimbabwe's largest bank, announces the retirement of chairman Marc Holtzman and CEO Blessing Mudavanhu as the company embarks on an aggressive expansion strategy. Holtzman, credited with guiding the bank through rapid expansion, will retire on December 31, 2023, and will be succeeded by Luxon Zembe as acting chairman. Mudavanhu, who played a key role in the company's growth strategy, will also retire on the same date, with Lawrence Nyazema taking over as acting CEO. The leadership changes come as CBZ seeks to expand its regional footprint and solidify its position as Zimbabwe's leading financial institution.

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Standard Chartered Bank Reserve Bank of Zimbabwe CBZ Holdings

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Takudzwa Changadeya is a journalist based in Harare, Zimbabwe.

Dream or reality: Zimbabwe’s 12 billion dollar

05 Jul 2023  |  The African Mirror - For Africa - Always  |  English  |  Corruption

A Chinese mining company has opened a $300 million lithium processing plant in Zimbabwe, aiming to boost the mining sector's value to $12 billion by the end of 2023. Despite Zimbabwe's rich mineral resources, including the largest lithium reserves in Africa, the mining industry faces significant challenges such as political infighting, corruption, inadequate infrastructure, and power outages. Experts argue that while the $12 billion target is achievable in the long run, it is unrealistic for the current year. The sector's growth is further hindered by a lack of transparency, monopolies, and limited access to foreign currency. Nonetheless, the mining industry remains a key driver of economic development and continues to attract foreign investment.

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University of Zimbabwe Labour and Economic Development Research Institute of Zimbabwe Chamber of Mines in Zimbabwe Reserve Bank of Zimbabwe Government of Zimbabwe

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Anna Chibamu is a current affairs and political journalist based in Harare, Zimbabwe. I also specialise in developmental features and profiling of high profile personalities.
In the past three years I have also started doing short mobile interviews, livestreaming of press conferences and making ...

Report businesses rejecting $50 Mbuya Nehanda note to Financial Intelligence Unit – says deputy Finance Minister Mnangagwa

04 Oct 2023  |  www.newzimbabwe.com  |  English  |  Government Policy

Deputy Finance Minister David Mnangagwa urges the public to report businesses rejecting the $50 Mbuya Nehanda bond notes to the Financial Intelligence Unit for investigation. The rejection stems from the note's significant devaluation. Mnangagwa emphasizes the continued use of the multi-currency regime and introduces the Zimbabwe Investment Gold (ZIG), a gold-backed digital currency, as an alternative. Concerns are raised about the accessibility and practicality of ZIG, especially in rural areas. The government aims to stabilize the local currency and ensure its acceptance.

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Reserve Bank of Zimbabwe Parliament of Zimbabwe Financial Intelligence Unit Zanu PF Finance Ministry

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Enos Denhere is a distinguished freelance investigative journalist from Zimbabwe, renowned for his insightful reporting on a wide array of topics impacting both his home country and the broader African continent. With over a decade of experience, Denhere has developed a reputation for his ...

How a Zim business coach went from artisinal miner to CEO

30 Dec 2023  |  www.news24.com  |  English  |  Youth Empowerment

Payne Farai Kupfuwa, CEO of the Young Miners Foundation (YMF), transitioned from an artisanal miner to a business leader, mentoring young miners and running his own mining company. YMF, founded in 2009, promotes formalized mining among youth, growing from two members to over 3,000. Kupfuwa's efforts have led to significant improvements in safety and business opportunities for young miners in Zimbabwe. The organization collaborates with the Minerals Marketing Cooperation of Zimbabwe and the Zimbabwe School of Mines to provide training, helping miners legalize their operations and contribute to the economy. Kupfuwa's work has been recognized with the Outstanding Miner of the Year 2023 Award.

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Ministry of Youth Empowerment, Development, and Vocational Training Zimbabwe Miners Federation Reserve Bank of Zimbabwe Zimbabwe School of Mines Minerals Marketing Cooperation of Zimbabwe Young Miners Foundation WeMine Zim Consultancy Fidelity Printers and Refiners Youth Network Connect Zimbabwe Youth Council

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Kudzanai Gerede is a journalist based in Harare, Zimbabwe with interest in political, business and financial analysis, community reporting as well as climate change solution based reporting. I have 10 years experience in journalism and won several journalistic awards including best coal and gas ...

Zimbabwe: Govt to Raise Zw$ 9 Trillion Amid Debt Crisis

27 Feb 2024  |  allAfrica.com  |  English  |  Economic Policy

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.

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Reserve Bank of Zimbabwe Government of Zimbabwe Treasury

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Vanessa Gonye is an award winning journalist based in Harare, Zimbabwe. She is currently focusing on print journalism, with health reporting being the major area she covers. 

She is however an all rounder and can take up any task at any given time. 

Vanessa has a passion for grassroots ...

No to forced de-dollarisation: Retailers

30 Sept 2023  |  Southern Eye  |  English  |  Currency Crisis

Zimbabwean retailers and economists warn against the government's potential move to de-dollarise the economy, citing risks of economic instability and shortages. The Confederation of Zimbabwe Retailers argues for a phased approach, allowing both the US dollar and the local currency to coexist. Economists emphasize the need for market-driven de-dollarisation and political reforms to build trust in the local currency. The Reserve Bank of Zimbabwe recently devalued the Zimbabwe Gold currency, sparking debates on the future of currency policy in the country.

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Reserve Bank of Zimbabwe Confederation of Zimbabwe Retailers

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Nunurai Jena is a journalist based in Chinhoyi, Zimbabwe.
Nationality: Zimbabwean
PROFESSIONAL QUALIFICATION
National Diploma in Mass Communication -- 1999-to-2001
Harare Polytechnic 
Zimbabwe
Diploma in Public Relations-2006
Zimbabwe Institute of Public Relations
Zimbabwe
Diploma in ...

Zimbabwe Capital Markets Conferences Set for South Africa

22 Mar 2024  |  www.newsday.co.zw  |  English  |  Economic Development

The Financial Markets Indaba, in partnership with the Victoria Falls Stock Exchange, is co-hosting two Zimbabwe capital markets conferences in South Africa. These events aim to showcase investment opportunities in Zimbabwe to foreign investors and the diaspora, and to increase foreign direct investment. The conferences will feature presentations from companies listed on VFEX, panel discussions with investment firms and government officials, and high-level participation from various Zimbabwean financial institutions. Keynote speakers include Finance Minister Mthuli Ncube and Zimbabwe Stock Exchange CEO Justin Bgoni.

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Insurance and Pensions Commission of Zimbabwe Securities and Exchange Commission of Zimbabwe Reserve Bank of Zimbabwe Zimbabwe Investment Development Agency Ministry of Finance, Economic Development and Investment Promotion

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Eben Mabunda is a journalist, Financial Analyst and Business Anchor/Writer based in Harare, Zimbabwe. He is trained in Financial Management as well as in Journalism and Mass Communications.

Zimbabwe's Food Inflation Crisis: A Call for Agricultural Reform

18 Oct 2023  |  The Zimbabwe Independent  |  English  |  Agriculture

Zimbabwe is currently facing the highest food inflation in the world, with a rate of 353%, according to the World Bank. This situation is attributed to both internal and external factors, including the impact of the Russo-Ukrainian conflict on global food prices and local issues such as an unstable currency and increased government spending. The Reserve Bank of Zimbabwe reports a significant increase in reserve money, contributing to the inflationary environment. The article suggests that Zimbabwe needs to shift from command economics to free market economics, particularly in the farming sector, to address inefficiencies and improve food security. It highlights the failure of government-led initiatives like 'Command Agriculture' and 'Pfumvudza' to revitalize agriculture despite significant investment. The author proposes granting farmers land tenure security to encourage private sector-led agricultural reforms, which could lead to a reduction in the import bill and improved food security.

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Reserve Bank of Zimbabwe (RBZ) World Bank Equity Axis

Andrew Mambondiyani is a journalist based in Mutare, Zimbabwe with more than 10 years journalism and media consultancy experience. Between 2010 and 2011 he served as a Knight Science Journalism Fellow at Massachusetts institute of Technology (USA).   In 2008 he served as a Middlebury Environment ...

Anthrax in Zimbabwe: Caused by Oppression, Worsened by Climate Change

16 Sept 2024  |  The Revelator  |  English  |  Zimbabwe History

Zimbabwe faces a severe anthrax outbreak exacerbated by climate change and historical factors. The disease, which affects both humans and livestock, has roots in the country's liberation war when it was reportedly used as a bioweapon. Current outbreaks are worsened by climate change, leading to increased vulnerability in rural areas. The Zimbabwean government is taking steps to control the outbreak, including importing vaccines and planning local production. However, economic challenges and political isolation complicate efforts to eradicate the disease. Experts emphasize the need for public awareness and effective veterinary services to combat future outbreaks.

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Zimbabwe National Liberation War Association Reserve Bank of Zimbabwe Zimbabwe government

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Almot Maqolo is a journalist based in Harare, Zimbabwe.

Zimbabwe's Equities Market Lukewarm Following New Currency Launch

14 Apr 2024  |  fingaz.co.zw  |  English  |  Currency

Zimbabwe's equities market has shown a tepid response to the launch of the new currency, the Zimbabwe Gold (ZiG). Insurance firms in Zimbabwe are concerned about building legislations, while businesses have welcomed the new currency and other central bank measures. Economic experts suggest that the Reserve Bank of Zimbabwe's (RBZ) market-determined exchange rate and cessation of quasi-fiscal activities could lead to price stability and bolster the new currency's stability. The ZiG has appreciated slightly against the US dollar since its introduction. The banking sector is adapting to market and climate changes, and Zimbabwe's first mineral commodities exchange is set to be operational by the end of the year.

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Reserve Bank of Zimbabwe

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Farai Shawn Matiashe is an award-winning journalist based in Mutare, Zimbabwe who writes for various international media outlets including Aljazeera (Qatar), CNN International (UK) the Thomson Reuters Foundation (UK), Vice World News (UK), The Africa Report (France), Euronews (UK) and Quartz Africa ...

Zimbabwe’s Seemingly Endless Currency Crisis

24 Oct 2024  |  New Lines Magazine  |  English  |  Economic Instability

Zimbabwe's currency crisis, marked by hyperinflation and economic instability, has deeply affected its citizens across generations. The introduction of the Zimbabwe Gold (ZiG) currency has not restored public trust, with many preferring the U.S. dollar. Economic mismanagement, corruption, and international sanctions have exacerbated the situation, leading to a decline in living standards and widespread poverty. The government's efforts to stabilize the currency have been met with skepticism, and the lack of confidence in the banking system persists. The crisis has left a lasting impact, with older generations unable to fulfill their plans and younger generations facing uncertainty.

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World Bank Reserve Bank of Zimbabwe ZANU-PF

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Fidelity Hamilton Mhlanga is a Multimedia journalist based in Harare, Zimbabwe.He has over 5 years experience in Business and Finance Journalism.He holds Master of Arts in  Development studies and has previously participated in Fellowships that include the International Journalism Programme(IJP) ...

Mines endorse RBZ move

02 Oct 2023  |  Southern Eye  |  English  |  Government Policy

Mining industry executives have praised the Reserve Bank of Zimbabwe's decision to transfer the responsibility of collecting fees and commissions from the Minerals Marketing Corporation of Zimbabwe to the Zimbabwe Revenue Authority. This move aims to reduce bureaucracy and help mineral exporters navigate issues related to economic sanctions. The mining sector, which faced significant challenges due to COVID-19, is expected to recover, with projections of achieving US$12 billion in annual revenue by 2023. The Chamber of Mines of Zimbabwe highlighted ongoing capital constraints but expressed optimism for a rebound in the second quarter.

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Office of Foreign Assets Control Chamber of Mines of Zimbabwe Reserve Bank of Zimbabwe Minerals Marketing Corporation of Zimbabwe Zimbabwe Revenue Authority

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Jason Mitchell is a journalist based in Bogotá, Colombia.

Could lithium transform Zimbabwe’s economy or will the opportunity be squandered?

01 Mar 2024  |  www.thezimbabwean.co  |  English  |  Global Energy Transition

Zimbabwe's vast mineral resources, particularly lithium, place it in a critical position in the global energy transition. Despite having the potential to meet up to 20% of global lithium demand, the country faces significant challenges including power shortages, sanctions, and economic instability. The government aims to increase mining revenues, but persistent issues such as policy uncertainties and foreign currency shortages hinder progress. Chinese companies are leading investments in Zimbabwe's lithium sector, while Western investors remain cautious due to political and human rights concerns. The recent reduction in US sanctions could provide some relief, but the country must address its energy crisis to fully capitalize on its mineral wealth.

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Reserve Bank of Zimbabwe Minerals Marketing Corporation of Zimbabwe Chamber of Mines World Bank IMF US Government

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Gary Moore is a lighting video-journalist based in Malmö, Sweden. He covers news at home and abroad and has also worked on countless documentaries around the world.

Equipment list:

Sony PXW-X180 XDCAM Full HDCAM
Sachtler 8 Tripod
Sony radio mic
Sennheiser radio mic
Sony hardwired lav mics ...

Zimbabwe's new currency faces headwinds five months on

19 Sept 2024  |  Bizcommunity  |  English  |  Economic Stability

Zimbabwe's gold-backed currency, the ZiG, introduced in April, has depreciated significantly, losing almost 80% of its value on the black market. The Reserve Bank of Zimbabwe has injected $64 million into the foreign-exchange market to stabilize the currency, following a previous $50 million injection in July. Despite these efforts, confidence in the ZiG remains low, with traders and economists expressing skepticism. Suggestions to increase the currency's usage include charging more taxes in ZiG, but many businesses continue to prefer transactions in US dollars due to the ZiG's instability.

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Reserve Bank of Zimbabwe

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Linda Mujuru is a journalist based in Harare, Zimbabwe. She holds a Master of Science and a Bachelors degree in Journalism and Media Studies. She has experience in writing stories about human rights, environment, health, education and religion. Linda has experience in print, audio and video stories....

Zimbabweans Skeptical About Country's Latest Currency

23 Jun 2024  |  allAfrica.com  |  English  |  Inflation

Zimbabwe has introduced a new currency, Zimbabwean gold, to stabilize its economy, replacing the Zimbabwean dollar. However, the transition has been met with skepticism and challenges, including inflation, cash shortages, and a lack of public confidence. The new currency is tied to the country's gold reserves but is not widely accepted for essential transactions, leading to continued reliance on the US dollar. Economists emphasize the need for confidence, transparency, and comprehensive policies for the currency's success, while citizens express distrust in the banking and governance systems.

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Reserve Bank of Zimbabwe

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I am a Reporter and TV Producer with NewZimbabwe.com, one of Zimbabwe's largest online news sites. Previously I have been with The Mirror (Masvingo) where I was appointed Acting News Editor between 2013 and 2014. I was Editor of MatchDay Zimbabwe a Zimbabwean football magazine.

Currently I am ...

Zimbabwe’s runaway inflation rate unchanged at 848%; still leads war

14 Nov 2023  |  www.newzimbabwe.com  |  English  |  Economic Crisis

Zimbabwe's inflation rate remains at 848% per year, significantly higher than the official rate set by the Reserve Bank of Zimbabwe. Economist Steve Hanke attributes this to President Emmerson Mnangagwa's administration, citing corruption and incompetence. The economic crisis has severely devalued the Zimbabwean currency, impacting civil servants and the unemployed, with basic commodities becoming unaffordable for many.

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Reserve Bank of Zimbabwe

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Chris Muronzi is a journalist based in Harare, Zimbabwe.

‘Suffering is continuing’: Mnangagwa declared winner in Zimbabwe election

27 Aug 2023  |  www.aljazeera.com  |  English  |  Economic Crisis

Emmerson Mnangagwa has been declared the winner of Zimbabwe's presidential election, securing 52% of the vote amid widespread economic despair. Opposition leader Nelson Chamisa, who received 44%, and his supporters have rejected the results, citing electoral irregularities. The economic crisis, marked by hyperinflation and a depreciating currency, has forced many Zimbabweans into informal work. Analysts suggest Mnangagwa's second term could either bring necessary economic reforms or continue the detrimental policies of his first term. The general sentiment among citizens is one of pessimism, fearing continued hardship under Zanu PF's rule.

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Reserve Bank of Zimbabwe Zimbabwe Electoral Commission Zimbabwe African National Union-Patriotic Front Citizens Coalition for Change

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Mlondolozi Ndlovu is a broadcaster, journalist and media trainer based in Harare, Zimbabwe. He contributes to the Voice of America - Zimbabwe Service. He has published for a number of online and hard copy newspapers in Zimbabwe including Newsday, Herald, Southern eye, Nehanda Radio, Radio VOP among ...

Arresting money changers won’t prop up ZiG

28 Apr 2024  |  The Standard  |  English  |  Illegal Forex Trading

Zimbabwe's introduction of the Zimbabwe Gold (ZiG) currency has been met with skepticism and a lack of public confidence. The government's arrest of illegal forex traders and freezing of business accounts have not addressed the root issues of trust and confidence in the currency. The article argues that legislative measures alone cannot build confidence, which must be earned through consistent action and transparency. It suggests that the government should lead by example, such as paying officials in ZiG, to instill confidence and reduce reliance on US dollars. The success of the ZiG depends on a collective shift in attitude towards the currency, starting from the government down to the citizens.

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Reserve Bank of Zimbabwe Zimbabwe Republic Police Financial Intelligence Unit

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Ray Ndlovu is an international journalist and media consultant based in Harare, Zimbabwe.
 
He holds a Bachelor of Science Honors Degree in Journalism and Media Studies from the National University of Science and Technology in Bulawayo, Zimbabwe. 

His work is highly sought after and has been ...

Zimbabwe Uses Platinum to Pay Back $400 Million Afrexim Bank Debt

04 Dec 2023  |  www.bnnbloomberg.ca  |  English  |  Mining Industry

Zimbabwe is using platinum export proceeds to repay a $400 million loan from the African Export-Import Bank. The country's reliance on mineral wealth for credit is due to difficulties in obtaining international loans, with an $18 billion debt making it ineligible for new credit from lenders like the World Bank and IMF. The loan, intended for budget support and trade infrastructure, has a 10.2% interest rate and is tied to Zimplats' export proceeds. Zimbabwe's Treasury views the loan as a success, given the country's limited access to external finance. New levies on lithium and a wealth tax have been introduced to support the economy, which is facing high inflation and currency devaluation. Debt clearance plan talks will resume next month under AfDB president Akinwumi Adesina.

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African Development Bank World Bank Reserve Bank of Zimbabwe International Monetary Fund

Nyashadzashe Ndoro is a journalist based in Harare, Zimbabwe.

Exclusive: Zimstat Director General Taguma Mahonde arrested by ZACC over alleged corruption

26 Sept 2023  |  nehandaradio.com  |  English  |  Arrest

Taguma Mahonde, the Director General of the Zimbabwe National Statistics Agency (Zimstat), has been arrested by the Zimbabwe Anti-Corruption Commission (ZACC) on charges of fraud. The arrest follows investigative reports by Nehanda Radio that exposed Mahonde's involvement in alleged corruption and corporate malpractices, including receiving controversial benefits and misappropriating funds for personal gain. ZACC spokesperson Commissioner Thandiwe Mlobane confirmed the ongoing investigation. Mahonde is accused of buying a service car for a fraction of its value, owning multiple vehicles against governance principles, and requesting school fees allowances in USD. The Finance Director of Zimstat, Romania Nyahwa, is also implicated in the misappropriation of funds allocated for agency operations.

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Reserve Bank of Zimbabwe Zimbabwe Anti-Corruption Commission (ZACC) Zimbabwe National Statistics Agency (Zimstat) Central Mechanical Equipment Department (CMED) United Nations

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Elia Ntali is an award winning journalist with ten years experience writing on socio political, humanitarian and Health issues and is based in Harare, Zimbabwe.

He contributed articles to various online publication within and outside Zimbabwe including renowned international news outlets

ZIMCODD Urges Swift Implementation of Monetary Policy

19 Apr 2024  |  www.263chat.com  |  English  |  Governance

ZIMCODD emphasizes the critical link between politics and economics, urging the Zimbabwean government to support the swift implementation of the 2024 monetary policy measures announced by the Reserve Bank of Zimbabwe. The advocacy group calls for comprehensive reforms to address price and currency instability, highlighting the importance of political will, citizen participation, and fiscal discipline. ZIMCODD also stresses the need for transparency and advanced technologies to ensure the success of the ZiG exchange rate, advocating for bold reforms to restore market confidence and public trust in the central bank.

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Reserve Bank of Zimbabwe Zimbabwe Coalition on Debt and Development

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Advent Shoko is a journalist based in Harare, Zimbabwe. He is known for incisive political analysis, in-depth investigative reporting, and compelling stories on sports, governance, and human interest issues that captivate audiences.

Some Banks Taking 10-20% Of Every United States Dollar

04 Jan 2024  |  Pindula  |  English  |  Currency Issues

In Zimbabwe, some banks are reportedly taking 10-20% of every US dollar deposited, a practice highlighted by lawyer Tinomudaishe Chinyoka. This issue arises from banks and businesses undervaluing US dollar notes, especially those that are soiled or damaged. The US Embassy in Harare clarified that all US dollar notes remain legal tender, urging acceptance of damaged notes. Despite this, Zimbabwean banks and businesses often reject such notes, leading to a market where illegal money changers exploit the situation. Economic analysts and business associations have welcomed the US Embassy's clarification, but challenges persist as major retailers and traders continue to refuse these notes.

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Reserve Bank of Zimbabwe US Embassy in Harare

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Tatira Zwinoira is a journalist based in Harare, Harare Province, Zimbabwe.

Choppies mulls Zim exit

29 Oct 2024  |  Southern Eye  |  English  |  Currency Instability

Choppies Enterprise Limited, a Botswana-based retailer, is considering exiting Zimbabwe due to financial stress caused by the instability of the newly introduced Zimbabwe Gold (ZiG) currency. The company, which operates 30 stores in Zimbabwe, cites economic challenges such as high inflation, unemployment, and foreign currency shortages as factors impacting its operations. Choppies' CEO, Ramachandran Ottapathu, highlights the company's strategy to reduce debt and exit loss-making areas, with Zimbabwe being a significant concern. The economic situation in Zimbabwe, including declining GDP growth and agricultural output, further exacerbates the challenges faced by Choppies.

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Reserve Bank of Zimbabwe Nanavac Investments (Pvt) Limited

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