Business News | Market Trends & Financial Updates

Forex Shortage Hinders Zimbabwe Gold (ZiG) Adoption by Industry

ZIMBABWE | Industry is grappling with forex shortage as banks withhold funds for inputs, jeopardizing Zimbabwe Gold acceptance. Businesses face hurdles in accessing USD for vital imports, hindering ZiG’s adoption despite its launch to replace the Zimbabwe dollar on April 5, 2024.

May 12, 2024

Business·Zimbabwe

Mthuli Ncube Introduces ZiG200,000 Fine for Exchange Rate Violations

Finance Minister Mthuli Ncube has announced a ZiG200,000 fine for traders found violating exchange rate regulations. The new penalty targets individuals and corporates who set prices above the official exchange rate. Zimbabwe introduced the Zimbabwe Gold (ZiG) currency on April 5 to

May 10, 2024

Business·Zimbabwe

CCC MP Advocates Transfer of Radio and TV License Collection from ZBC to BAZ

During the belated World Press Freedom Day celebrations in Harare on Monday, May 6th, Caston Matewu (CCC), Member of Parliament for Marondera Central, advocated for the transfer of tv and radio licensing duties from the Zimbabwe Broadcasting Corporation (ZBC) to the Broadcasting

May 7, 2024

Econet says send money for free from South Africa and the UK

Business·South Africa·United Kingdom·Zimbabwe

Econet Introduces Free Money Transfers to Zimbabwe

Econet Wireless, Zimbabwe’s leading telecommunications and technology company, has pioneered Africa’s first initiative by launching two free remittance corridors into the country, eliminating costs for both senders and recipients. In collaboration with its affiliate, Sasai Money Transfer, Econet now enables individuals and

May 2, 2024

Business·Zimbabwe

First Capital Bank Expands Credit Lines and Initiatives for Growth

First Capital Bank (FCB) has actively engaged the African Development Bank (AfDB) and Trade Development Bank (TDB) for fresh lines of credit, following substantial drawdowns on previous loans. The drawdown on €12.5 million from the European Investment Bank has been exhausted, while

April 30, 2024

Mark Zuckerbergs fortune plunged US$18 billion as shares of Meta Platforms tumbled allowing Teslas Elon Musk to cement his status as the worlds third richest billionaire

America·Business

Zuckerberg’s Fortune Falls as Meta Shares Drop, Musk Climbs Billionaire Ranks

A sharp decline in Meta Platforms’ shares led to a staggering $18 billion drop in Mark Zuckerberg’s fortune. This downturn enabled Elon Musk of Tesla to secure his status as the third-wealthiest individual globally. Meta’s shares plunged by 11 percent in New

April 29, 2024

Business·Zimbabwe

Air Zimbabwe now Accepting ZiG

On Friday, Air Zimbabwe announced its acceptance of Zimbabwe Gold (ZiG) payments, signaling confidence in the new currency. The airline, via a statement on X (formerly Twitter), emphasized its commitment to adapting to the evolving financial landscape by offering stakeholders convenient payment

April 26, 2024

Energy and Power Development ministry permanent secretary Gloria Magombo said the El Niño induced drought had had adverse effects on the countrys electricity generation capacity

Business·Zimbabwe

Power Outages Disrupt ZITF

Power outages marred the opening day of the Zimbabwe International Trade Fair (ZITF) in Bulawayo as a blackout disrupted operations, compelling several exhibitors to resort to generators, according to a report by NewsDay. Gloria Magombo, the secretary for the Ministry of Energy

April 25, 2024

Fastjet accepting flight bookings payments in ZiG Picture Fastjet Zimbabwe

Business·Zimbabwe

Fastjet Zimbabwe Embraces Zimbabwe Gold (ZiG) Currency for Flight Bookings

In a significant development for the newly-introduced local currency, low-cost airline Fastjet Zimbabwe has announced that travelers can now use the Zimbabwe Gold (ZiG) currency to pay for their flight tickets. The Reserve Bank of Zimbabwe (RBZ) introduced the new currency to

April 23, 2024

Business·international·Zimbabwe

ZITF 2024: Bigger, Better, and Global!

This year’s 64th edition of the Zimbabwe International Trade Fair (ZITF) is witnessing a significant international presence, with 27 nations participating and bringing over 120 exhibitors. This surge marks a notable increase from the approximately 70 international exhibitors who participated in the

April 23, 2024

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