HARARE – Zimbabwe’s central bank kept its benchmark interest rate unchanged at its first policy meeting since unveiling the gold-backed currency, the ZiG. Governor John Mushayavanhu said in a statement …
ZIG
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China shops rejecting ZIG currency Retail outlets commonly known as ‘China shops,’ which offer a range of inexpensive goods like kitchenware, clothing, electronics, and cleaning products, are exclusively accepting US …
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BUSINESS NEWS
As Zimbabwe Starts Circulating Its Structured Currency: Here Are a Few Things to Know!
by Kells Dzivaby Kells DzivaHarare, Zimbabwe | As Zimbabwe moves to start circulating the newly launched structured currency, here is what our reporters learned. In response to the persistent challenges faced by Zimbabwe’s economy, …
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BUSINESS NEWS
“ZiG is here to stay forever”: Chiwenga Threatens to Crush Gold Smugglers
by Kells Dzivaby Kells Dziva“ZiG is here to stay forever”: Chiwenga Threatens to Crush Gold Smugglers Vice President Constantino Chiwenga made a significant announcement yesterday regarding the newly introduced Zimbabwe Gold (ZiG), stating that …
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BUSINESS NEWS
Financial Intelligence Unit Sanctions 11 Companies For Refusing ZiG Payments
by Kells Dzivaby Kells DzivaThe Reserve Bank of Zimbabwe (RBZ)’s Financial Intelligence Unit (FIU) says it has frozen bank accounts of 11 companies for exchange control violations. Speaking to The Sunday Mail, FIU director-general …
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The Reserve Bank of Zimbabwe (RBZ) has completed printing and minting the new Zimbabwe Gold (ZiG) banknotes and coins that are set to be introduced into the market on Tuesday …
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BUSINESS NEWS
Finance Minister Ncube Delays Independent Auditors for ZiG Gold Reserves
by Kells Dzivaby Kells DzivaFINANCE Minister Prof Mthuli Ncube has been slow to clarify the appointment of independent auditors tasked with verifying the reserves supporting the recently introduced ZiG currency. The nation ushered in …
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BUSINESS NEWS
RBZ Implements Higher Forex Reserve Ratio to Fortify ZiG Stability
by Kells Dzivaby Kells DzivaThe Reserve Bank of Zimbabwe (RBZ) has made a strategic move to bolster the stability of the Zimbabwean Dollar (ZiG) by adjusting the foreign currency statutory reserve ratio on demand …
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BUSINESS NEWS
Zimbabwe’s New Currency Surges Past Rand in Trading Strength, Will It Last?
by Kells Dzivaby Kells DzivaThe currency gained 0.2% to 13.53 per US dollar, according to data on the Reserve Bank of Zimbabwe’s website on Tuesday. But the rand was trading at R18.47 to the …
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BUSINESS NEWS
“All fuel sales will exclusively accept ZiG as payment”: Guvamatanga
by Kells Dzivaby Kells Dziva“All fuel sales will exclusively accept ZiG as payment”: Guvamatanga Finance, Economic Development, and Investment Promotion Permanent Secretary George Guvamatanga announced that all Government ministries, departments, and agencies will soon …