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Inflation ravaged Zimbabwe introduces $100 note

Published

3 years ago

April 7, 2022

HARARE – Zimbabwe has introduced a new $100 note as inflation ravages the nation.

Announcing the new features of the dollar note in Statutory Instrument (SI) 68A of 2022, Finance minister Mthuli Ncube did not spell out the reasons for introducing the dollar note.

According to the Reserve Bank of Zimbabwe (RBZ), the country is facing galloping inflation and the new note shall be issued in terms of section 40(3) of the Reserve Bank of Zimbabwe Act [Chapter 22:15].

Statutory Instrument 68A reads in part, “On the front side the dominant feature shall be the logo of the Reserve Bank of Zimbabwe (three balancing rocks), with the visually impaired recognition feature to the left, latent image showing the denomination, windowed security strip inscribed “RBZ” with color shift from red to green, watermark with highlighted inscription “RBZ” and see-through of Zimbabwe Bird looking to the left in perfect register, as secondary features.

“On the back side, there shall be an impression of Great Zimbabwe Monument and the Baobab Tree, gold colour iridescent band showing the denomination of the note and see-through of the Zimbabwe Bird looking to the right.”

The RBZ last year introduced $10, $20 and $50 notes

In a statement, the RBZ said the Monetary Policy Committee (MPC) of the Reserve Bank of Zimbabwe (the Bank) met on April 1, 2022 to consider developments in the domestic and international macroeconomic environment as well as the impact of global geopolitical factors on the economy.

The RBZ said: “While noting the decline in month-on-month inflation, from 6.99% in February 2022 to 6.31% in March 2022, the Committee was concerned with the escalation in annual inflation, from 66.11% to 72.70%, over the same period.

“The committee particularly noted that global inflation was on the increase as a consequence of the on-going Russia-Ukraine conflict which had secondary pass through effects on domestic and international prices.

“Rising prices of oil, gas, fertilizers and other related products had the effect of increasing global inflation and inevitably had a negative impact on domestic costs of production and was destabilising the foreign exchange market.

“In this regard, the committee reiterated the need for the bank to remain focused on inflation reduction and putting in place additional policy measures in response to the resurging inflationary pressures and foreign exchange parallel market activities.”

The RBZ said the committee resolved to review upwards the bank policy rate from 60 percent to 80 percent per annum; review upwards the medium-term bank accommodation facility Interest Rate from 40 percent to 50 percent per annum; review upwards the minimum deposit rates for Zimbabwe savings and time deposits from 10 percent and 20 percent per annum to 12.5 percent and 25 percent, respectively.

The committee also recommended the tightening of the monetary policy by reducing the quarterly reserve money growth target from 7.5 percent to five percent for the quarter ending June 2022; liberalising the foreign exchange market by allowing banks to conduct foreign exchange transactions of up US$1,000 under an arrangement agreed upon between banks and the RBZ and in terms of which individuals with free funds and entities/corporates holding foreign exchange in their foreign currency accounts (after meeting the statutory surrender requirements) shall be free to sell foreign currency to banks on a willing-buyer-willing-seller basis; and ensuring that commercial imports are processed through normal banking channels in line with international best practice. – VOA

Hwange

Teacher sentenced to 15 months for assaulting student with wooden stick

Published

2 hours ago

July 28, 2025

VicFallsLive

BY NOKUTHABA DLAMINI

A Hwange Magistrates’ Court has convicted and sentenced a 27-year-old teacher, Shyleen Nenduva, to 15 months imprisonment for brutally assaulting a 15-year-old grade 7 student.

According to court records, on July 9, Nenduva from Gwai, struck the student several times on the back with a wooden stick, punched him once in the chest, and violently pushed him onto a desk. The assault resulted in the student sustaining a swollen and painful right elbow.

The court heard that the incident occurred after the student misbehaved outside the classroom, prompting Nenduva to caution him. However, a misunderstanding ensued, leading to the physical altercation.

In sentencing Nenduva, the court suspended 6 months of the imprisonment term for 5 years. The remaining 9 months were suspended on condition that Nenduva performs 315 hours of community service.

Hwange

Hwange driver remanded in custody for alleged beer theft

Published

2 hours ago

July 28, 2025

VicFallsLive

BY STAFF REPORTER

A 38-year-old driver, Munyaradzi Gotora, has been remanded in custody by the Hwange Magistrates’ Court on three counts of theft involving large consignments of alcoholic beverages.

Gotora, employed at Delta Beverages’ Hwange Depot, allegedly diverted multiple loads of Chibuku Super beer destined for Binga and surrounding areas between June 25 and July 9, 2025.

According to the State, on June 26, 2025, Gotora sold 1,189 cases of beer valued at USD4,451.62 and failed to deposit the funds. He allegedly falsified delivery invoices, presenting them as credit transactions with Gain Cash and Carry, which were not signed.

Similar incidents allegedly occurred on June 30, 2025, involving 866 cases valued at USD3,242.30, and on July 5, 2025, involving 1,933 cases worth USD8,779. In the latter incident, Gotora allegedly deposited only USD2,110, converting the balance to his own use.

An investigation into the anomalies in stock records uncovered irregularities across the three transactions. Police recovered receipts at Gotora’s place of residence, linking him to the crime.

Gotora is scheduled to appear in court again on August 14. In the meantime, he will remain in custody.

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Victoria Falls receives prestigious Ramsar wetland city accreditation

Published

3 hours ago

July 28, 2025

VicFallsLive

BY NOKUTHABA DLAMINI

The City of Victoria Falls has been recognized globally for its outstanding efforts in conserving and managing its wetlands. Recently, the city was among 31 world cities to receive the Ramsar Wetland City Accreditation at the ongoing Ramsar COP15.

According to Ntombizami Ncube, Acting Spatial Planning Director, “Efforts that we put as a city, together with our stakeholders and communities, in conserving our property, especially the Victoria Falls, have been significant.” She highlighted the city’s collaborative work with the Forestry Commission, schools, and stakeholders to manage and conserve the property, which benefits the entire city.

The city’s conservation initiatives include participating in joint site management committee meetings with the Zambians to monitor developments and conservation status. They have also developed a tourism strategy and a joint integrated management plan. Additionally, the city has implemented various initiatives, such as collaborative waste management, regular clean-up campaigns, and development control.

Ncube emphasized the importance of preserving the wilderness value of Victoria Falls, stating, “Our community depends on Victoria Falls for livelihood, so preserving it is crucial.” The city ensures that buildings near the forest don’t exceed tree height or 11 meters and plants three indigenous trees for every tree cut.

The Ramsar Wetland City Accreditation recognizes the city’s efforts in conserving and preserving its wetlands. Ncube expressed the city’s commitment to continuing its conservation work, stating, “We’ll continue working together to conserve and preserve our wetlands, ensuring wise use and remaining an accredited World Heritage city.”

The city is thrilled to receive this international recognition and looks forward to renewing its accreditation, valuing its importance and benefits to the city, stakeholders, and community.