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Africa

Don't hold your breath: Zim business on foreign currency ban

Jun 25 2019 15:04

The decision by the Zimbabwean government to abolish the use of foreign currency for local transactions is welcome, but could have been implemented better, say analysts and various sectors of the business community.

Africa

This is why we ditched multi-currency, says Zim's Ncube

Jun 25 2019 05:00

Fear of self dollarisation of the economy and the plight of government workers who could no longer afford to buy goods and services forced the Zimbabwean government to abolish the long used multi-currency regime, finance minister Mthuli Ncube said Monday.

Economy

Zim dollars only: Finance minister Ncube bans foreign currency

Jun 24 2019 13:19

Foreign currencies are no longer acceptable as legal tender in Zimbabwe, with Finance Minister Mthuli Ncube saying Monday that the Zimbabwe dollar is now the only acceptable medium of exchange for local transactions.

Economy

Africa is a key place of interest for Trump, US official says

Jun 24 2019 07:00

Sub-Saharan African countries eligible for the African Growth and Opportunity Act have to commit to protecting private property rights, a State Department official has said.

Africa

Zim pays Eskom US$10m in bid to ease power shortage

Jun 23 2019 17:16

Zimbabwe, which according to power utility Zesa was producing 1200MW as of Sunday, needs at least 1700MW per day to meet demand.

Africa

Zim has so far paid $53m to former white farmers - Minister

Jun 23 2019 14:49

Minister Mthuli Ncube said government is now working on a grand agreement that will culminate in an MOU and a structure to pay the compensation over 20/30 yrs.

Africa

Zimbabwe leader wants new currency, IMF loan in revival bid

Jun 21 2019 15:35

Zimbabwean President Emmerson Mnangagwa and his finance chief want a new currency by March, would seek financing from the International Monetary Fund, and may even consider a Eurobond offering, as the struggling economy emerges from almost two decades of isolation.

Africa

West African finance ministers inch closer to single currency

Jun 18 2019 19:55

The 15-member regional organization has set a target to have a single currency by 2020, following a gradual approach that allows countries to join the monetary union when they meet the convergence criteria.

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