Zimbabwe Economy

Zimbabwe, Namibia to kill scores of elephants to feed people facing drought

Zimbabwe and Namibia have announced plans to slaughter hundreds of wild elephants and other animals to feed hunger-stricken residents amid severe drought conditions in the southern African countries. Zimbabwe said Monday it would allow the killing of 200 elephants so that their meat can be distributed among needy communities, while in Namibia the killing of more than 700 wild animals including 83 elephants is under way as part of a plan announced three weeks ago. Tinashe Farawo, a spokesman for the Zimbabwe National Parks and Wildlife Management Authority, said permits would be issued in needy communities to hunt elephants and that the agency also would kill some of the overall allotment of 200 animals. We will start culling as soon as we have finished issuing out permits, Farawo said. The elephants will be taken from an area where the population has become unsustainable, Farawo said. The hunting will take place in areas such as Hwange National Park in the country's arid west whe

Zimbabwe launches new currency ZiG in attempt to resolve money crisis

Out with the Zimbabwe dollar, in with the ZiG. Zimbabwe on Tuesday started circulating a new currency to replace one that has been battered by depreciation and often outright rejection by the people. The ZiG was introduced electronically in early April, but people are now able to use banknotes and coins. It's the southern African country's latest attempt to halt a long-running currency crisis underlining its persistent economic troubles. The government had previously floated various ideas to replace the Zimbabwe dollar, including introducing gold coins to stem inflation and even trying out a digital currency. Since it was launched electronically on April 5, the ZiG short for Zimbabwe Gold and backed by the country's gold reserves appears to be heading down the same path of mistrust, with some government departments refusing to accept it. The ZiG is the sixth currency Zimbabwe has used since the spectacular 2009 collapse of the Zimbabwe dollar amid hyperinflation of 5 billion ...

Zimbabwe's main oppn leader quits, claiming his party was hijacked

Zimbabwe's main opposition leader said on Thursday he has quit his party, accusing the country's ruling party of hijacking the organisation and causing the removal of dozens of his members of parliament and councilors. Nelson Chamisa, 45, was President Emmerson Mnangagwa's main rival in the 2018 and 2023 disputed elections. On Thursday, he accused Mnangagwa of decimating the opposition by authoritarian means. In a 13-page statement on his social media platforms and on the party's page on X, formerly Twitter, Chamisa criticised the economically and politically troubled southern African country's record of authoritarianism. With immediate effect, I no longer have anything to do with CCC (Citizens Coalition for Change), he said. Chamisa said he would remain active in public service and told supporters there are fresh things we need to do, urging them to rally behind fresh politics as he prepares to announce his next step. Chamisa formed the Citizens Coalition for Change party in 2022

Zimbabwe debuts gold coin as legal tender to stem inflation, boost currency

The unprecedented move was announced on Monday by the country's central bank, the Reserve Bank of Zimbabwe, to boost confidence in the local currency

Zimbabwe central bank raises key rate to 200% amid rising inflation

The monetary policy committee more than doubled the key rate to 200% from 80%, Governor John Mangudya said in a statement on Monday

Zimbabweans are counting their toes as inflation soars more than 130%

An internet rumour blazed through the country that desperate people were selling their toes for cash

After two decades of political rot, Zimbabwe is coming apart at the seams

Western governments that berated long-time ruler Robert Mugabe for violating civil rights are leveling similar criticism against his successor

Zimbabwe after Robert Mugabe: Dashed hopes and economic turmoil

The country, now led by Mugabe's long-serving security chief Emmerson Mnangagwa, is grappling with its worst economic crisis in a decade

Zimbabwe to re-introduce local currency within a year: Finance minister

Zimbabwe adopted a basket of foreign currencies in 2009 after hyperinflation, which saw some businesses increasing prices several times a day, rendered the local Zimbabwe dollar unusable

Zimbabwe's economic situation 'very difficult': IMF mission chief

Zimbabwe has not been able to borrow from international lenders since 1999 when it started defaulting on its debt.