Connect with us

National

President Mnangagwa urges Zimbabweans to embrace ZiG currency and respect laws backing it

Published

on

BY NOKUTHABA DLAMINI

“It remains the duty of all of us to respect and abide by measures and instruments intended to maintain economic stability and tame inflation,” President Mnangagwa said in his State of the Nation Address at the New Parliament Building in Mt Hampden on Wednesday.

Advertisement

He emphasized the importance of embracing the Zimbabwe Gold (ZiG) currency, which was adopted in April 2024 to stabilize the domestic currency.

“The adoption of the ZiG was an important step towards stabilising the domestic currency anchored by our gold and 8 precious metal reserves,” he noted.

However, Zimbabwe has been facing economic challenges, including hyperinflation, which has eroded the value of the currency and made it difficult for citizens to afford basic goods and services.

Advertisement

The country has been using a multi-currency system since 2009, but the RTGS dollar has struggled to maintain its value, leading to high inflation rates.

In response, the government has implemented measures to stabilize the currency, including the adoption of the ZiG and the willingness to allow greater flexibility in the foreign exchange market.

Despite these efforts, parallel market activities driven by speculative tendencies have resurfaced, causing concerns about economic disruptions.

Advertisement

President Mnangagwa assured Zimbabweans that the government remains committed to backing the currency through setting aside 50% of royalties for building reserves.

“Foreign currency inflows from exports have increased from US$7 billion in 2023 to US$8 billion in 2024,” he reported.

He also highlighted the government’s efforts to deepen the foreign exchange market and promote effective price discovery.

Advertisement

“The increased flexibility on the foreign exchange market is expected to further promote effective price discovery and encourage holders of foreign exchange to participate in the willing-buyer willing-seller market,” he explained.

In conclusion, President Mnangagwa urged Zimbabweans to work together to lay a solid foundation for economic prosperity, peaceful development, and freedom from undue external interference.

“Let us respect and abide by measures intended to maintain economic stability and tame inflation,” he emphasized.

Advertisement

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

National

Parliament declares diabetes a public health emergency, pushes for urgent action

Published

on

BY NOKUTHABA DLAMINI

Zimbabwe’s Parliament has resolved to prioritise the fight against diabetes, warning that the condition is rapidly becoming a public health emergency, particularly for children and young people living with Type 1 diabetes.

Advertisement

The motion, tabled in the National Assembly by Concilia Chinanzvavana and seconded by Edwin Mushoriwa, highlights critical gaps in access to life-saving treatment. Lawmakers noted that people with Type 1 diabetes require uninterrupted access to insulin, diagnostics and specialised care, without which they face preventable disability and death.

Despite existing Non-Communicable Disease (NCD) policies and fiscal measures such as the sugar tax, Parliament expressed concern that diabetes remains underfunded and insufficiently prioritised. This has resulted in inequitable access to treatment and persistent weaknesses in care systems across the country.

Legislators also stressed that policy alone is not enough, pointing to frameworks developed by the World Health Organization, including the Package of Essential Noncommunicable Disease Interventions (PEN) and PEN-Plus, which require strong political commitment and implementation.

Advertisement

As part of the resolution, Parliament pledged to champion equitable diabetes care within national development frameworks and to strengthen oversight of health budgets, policies and programme delivery. Lawmakers also called for sustainable financing mechanisms, including the possible ring-fencing of sugar tax revenues to support diabetes care.

The House further urged the integration of diabetes prevention and treatment into primary healthcare systems, alongside improved referral pathways to ensure timely and effective care.

In addition, Parliament emphasised the need for inclusive, people-centred governance, calling for structured engagement between lawmakers, the Ministry of Health and Child Care, civil society, development partners and people living with diabetes.

Advertisement

 

Advertisement
Continue Reading

National

Parliament pushes for funding, recognition of Zimbabwe’s digital creatives

Published

on

BY WANDILE TSHUMA 

The Parliament has called for urgent reforms and funding to unlock the potential of the country’s growing creative and digital content sector, citing its role in economic growth and youth employment.

Advertisement

During a sitting of the National Assembly last week , legislators raised concern that despite Zimbabwe’s “vast creative talent” in film, traditional arts and digital media, the sector remains largely informal, underfunded and poorly integrated into national development plans.

Lawmakers noted that thousands of young Zimbabweans producing content on platforms such as YouTube, TikTok and Instagram are earning livelihoods and promoting the country’s image, yet remain unrecognised as key economic players. This has left them excluded from structured funding, training and social protection systems.

The House also flagged persistent challenges including weak production infrastructure, piracy and the migration of talent, which have limited the growth of local creatives while foreign content continues to dominate the domestic market.

Advertisement

Parliament has now implored the Ministry of Sport, Recreation, Arts and Culture, working with Treasury, to allocate a dedicated budget for the implementation of the National Cultural and Creative Industries Strategy (2020–2030). Treasury was also urged to capitalise and operationalise the Arts Development Fund to support film and digital content production.

In addition, lawmakers called for the upgrading of community cultural centres into digital production hubs, as well as stronger enforcement of copyright laws and the creation of frameworks to formalise and monetise creative work, particularly for digital content creators.

 

Advertisement

Continue Reading

National

Flooding risk rises in Zimbabwe, Southern Africa as heavy rains forecast

Published

on

Flooding is expected to intensify across parts of Southern Africa, including Zimbabwe, as heavy rainfall continues to affect the region, according to the latest weather hazards update from the Famine Early Warning Systems Network (FEWS NET).

In its Global Weather Hazards Summary for March 12–18, FEWS NET said moderate to locally heavy rainfall has been observed across several countries in the region, raising concerns about flooding in vulnerable areas.

Advertisement

The agency said the rainfall has affected western, central and eastern parts of Southern Africa, including Angola, Zambia, Malawi, central Mozambique, northern Madagascar, Botswana, Namibia, South Africa and Zimbabwe.

“During the past week, moderate to locally heavy rainfall was observed over northern, central and eastern Southern Africa,” FEWS NET said in the report.

The agency noted that flooding has already been recorded in some parts of the region, including Cunene Province in southern Angola and Rundu in northern Namibia, as rainfall continued across several countries.

Advertisement

Over the past 30 days, cumulative rainfall has been above average across southeastern Angola, northeastern Botswana, central South Africa, Lesotho, central and southern Zimbabwe and parts of Malawi and Mozambique, increasing the likelihood of flooding in low-lying and flood-prone areas.

FEWS NET warned that the situation could worsen in the coming days.

“(This week) , heavy rainfall is predicted over northern and eastern Zambia, including central and northern Angola, central and eastern Zambia, Malawi, northern and eastern Zimbabwe, Mozambique, northeastern South Africa, Eswatini and northern Madagascar,” the report said.

Advertisement

According to the outlook, the forecast rainfall raises the risk of flooding in many local areas across the region, particularly where soils are already saturated following weeks of above-average rainfall.

The weather monitoring agency also noted that hot conditions are likely in western Angola and southwestern Madagascar, even as other areas brace for continued heavy rains.

FEWS NET provides climate and food security early warning information to support humanitarian planning and disaster preparedness across vulnerable regions.

Advertisement

Continue Reading

Trending

Copyright © 2022 VicFallsLive. All rights reserved, powered by Advantage