Money & Finance

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Zimbabwe’s ZiG Currency Records 0.2% Gain on Day Two of Trading

Zimbabwe’s latest endeavour to stabilize its currency market involved introducing the ZiG, a gold-backed currency, on April 8. Despite initial turbulence, the ZiG exhibited signs of resilience, gaining 0.2% against the US dollar on its second day of trading. Governor John Mushayavanhu

April 10, 2024

From April 5, 2024, banks will convert current Zimbabwe dollar balances into the new currency, Zimbabwe Gold (ZiG), to ensure simplicity, certainty, and predictability in monetary and financial matters.

Money & Finance·Zimbabwe

RBZ Mandates Conversion of All Zimdollar Balances to ZiG

The Reserve Bank of Zimbabwe (RBZ) announced the replacement of the Zimdollar with a new unit called ZiG, backed by a basket of foreign currency and gold. RBZ Governor John Mushayavanhu disclosed this during a press conference in Harare on Friday, April

April 5, 2024

Money & Finance·Zimbabwe

Economists Raise Concerns Over Efficacy of Structured Currency in Combating Zimbabwe’s Hyperinflation

As Zimbabwe anticipates the introduction of a new structured currency, economists caution that while it may diversify saving avenues for citizens, it may not sufficiently tackle the nation’s hyperinflation crisis. The crux of the issue lies in governmental manipulation of financial mechanisms.

April 5, 2024

Money & Finance·South Africa

Zuma’s Bank Accounts Frozen Two Months Ahead Of General Election

A South African bank disclosed on Wednesday that a court had issued a directive to halt outgoing transactions from former president Jacob Zuma’s accounts, amidst a legal dispute concerning loans utilized for enhancements to his private residence during his tenure. First National

March 21, 2024

Africa·Money & Finance·Zimbabwe

Zimbabwe Grapples with US$6.8 Billion Trade Deficit, a Concern Raised by Buy Zimbabwe

Zimbabwe is grappling with a staggering negative trade deficit of US$6.8 billion over the last four years, as highlighted by Buy Zimbabwe, a group advocating for the consumption of domestic products. “We’ve been operating with a negative trade balance, with imports exceeding

February 25, 2024

Business·Money & Finance·Zimbabwe

ZESA’s Crackdown on Debtors for Unsettled Bills

ZESA is set to implement a nationwide campaign to terminate electricity services to numerous customers with outstanding debts exceeding US$500. Despite prior assurances that these debts would be addressed through deductions from prepaid electricity recharge tokens, the parastatal aims to recover at

February 1, 2024

Money & Finance

Evergrande fears help South African rand get stronger

The South African rand ended stronger after a volatile day of trading on Monday, helped by receding fears of widespread market contagion from indebted Chinese developer Evergrande. At 1640 GMT, the rand traded at 14.9125 against the dollar, around 0.3% firmer than

September 27, 2021

Money & Finance·Uncategorized

A Lesson From the World’s Richest People

One of the most fascinating elements of Switzerland’s success is its determination to remain neutral under unimaginable pressure to pick sides. The country has not declared a state of war since 1847 (it never entered the World Wars or the Iraq war)

July 15, 2011

Money & Finance·Uncategorized

Are Entrepreneurs Born or Taught?

Is being an entrepreneur in your DNA, or can it be taught? A new study from Babson College finds the evidence is “overwhelming” that if business students take at least two core entrepreneurship classes, that can “positively influence” them to go on

July 15, 2011

Breaking News·Money & Finance·Uncategorized

Murdoch Apologizes to Britain in Full-Page Ad in Every Newspaper

British newspaper readers were greeted by a simple but bold apology as they flipped through the morning headlines. In a letter placed by News International and donning the signature – and tone – of News Corp. CEO Rupert Murdoch, News of the

July 15, 2011

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