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Zimbabwe goes for the gold — the Mosi-ao- Tunya coin, that is — to fight high inflation

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BY LESLEY WROUGHTON

 With inflation soaring in Zimbabwe and the country’s currency in free-fall as people abandon it for the United States dollar, the government of President Emmerson Mnangagwa is fighting back with a novel strategy: gold coins.

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Starting Monday, Zimbabwe is selling one-ounce, 22-carat gold coins bearing an image of Victoria Falls, its world-famous natural wonder.

Each has a serial number, comes with a certificate and will be sold at a price “based on the prevailing international price of gold and the cost of production,” the central bank said in its announcement on July 4.

The coins will be tradable both in Zimbabwe and overseas, the bank said, and can be exchanged for cash.

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The goal is to reduce the quantity of Zimbabwe dollars in circulation to eventually restore its value.

What’s unknown is whether the approach has any real chance of success.

While gold is traditionally the ideal hedge against inflation and general economic uncertainty, no country has previously tried to tackle a weakening currency by selling gold coins.

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“In that sense, it is unusual,” said Carlos Caceres, the International Monetary Fund’s representative to Zimbabwe.

And with gold trading at US$1,710 per troy ounce late last week, institutional investors may be the coins’ principal buyers.

“No ordinary person will be able to afford it,” said Prosper Chitambara, a senior researcher at the Labour and Economic Development Research Institute of Zimbabwe.

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 “Right now, Zimbabweans are living hand-to-mouth.

 

Economic crises are nothing new to people in the southern African nation, who for more than two decades have faced hyperinflation, food and fuel shortages, staggering unemployment and other hardships.

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For many, the current crisis recalls the late 2000s under then-president Robert Mugabe. Annual inflation hit a record 489 billion percent in September 2008, and shoppers carried garbage bags full of bank notes to buy groceries.

Mugabe’s government was forced to print a trillion-dollar note, the largest in world history, before the country abandoned its currency in 2015 for the US dollar.

Mugabe was forced to resign in 2017, and the Zimabwe  dollar, as it is known, was reintroduced two years later. But as confidence in it again falls, Finance minister Mthuli Ncube has warned that businesses refusing to accept the currency from customers could lose their trading licenses.

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This year the Zimbabwe  dollar has already lost roughly 72 percent of its value against the US dollar.

Annual inflation reached triple digits in May, climbing again in June to 192 percent even as interest rates more than doubled — to 200 percent from 80 percent.

Chitambara said the government wants sales of the gold coins to moderate high demand for US  dollars, a key factor in the local currency’s depreciation.

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If that happens, in turn reducing some of the excess money supply and easing inflationary pressures, “then it would’ve been a positive experiment,” according to Caceres.

Still, Caceres said, the IMF prefers tried-and-tested tools as it advises member countries on best economic policies.

When confronting both inflation and a weakening currency, such tools include raising or cutting interest rates to control inflation and tweaking the amount of money that banks must set aside as reserves.

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Most of Zimbabwe’s inflationary pressures emanate from its currency troubles.

But rising prices are also being fueled by Russia’s invasion of Ukraine, which has sparked a global wave of inflation amid supply shortages of grains and fuel.

On the streets of the capital city of Harare, there isn’t much chatter about the new coin — the Mosi-ao-tunya, the traditional name for the Zambezi River waterfall. It translates to “the smoke that thunders.”

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Vendor Trust Muyererwa is focused on his increasingly difficult day-to-day life.

“In January, I would pay $10 U.S. to buy a pack of mealie meal, cooking oil, sugar, and salt and this would push me through the month,” said Muyererwa, 28.

 “Now, a bottle of cooking oil costs $5 U.S., and I cannot buy much more” with the remainder.

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Many people survive via a parallel, illegal market, with currency traders waiting on street corners and outside shopping centers waving bundles of US  dollars as well as Zimbabwe dollars.

Teachers and nurses went on strike in June and demanded that half their salaries be paid in US dollars to offset the tumbling local currency.

Retailers often are raising prices every other day, and more of them are starting to quote prices in US dollars.

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The Zimbabwe central bank last month offered bakers access to foreign currency to keep down the price of bread.

Hilda Musungu (33) has started charging US dollars for the traditional meals she sells from her sidewalk stand because “no wants the Zimbabwean dollar anymore.”

“Last December, $200 US was enough for me to buy food packs to sell the whole day,” she explained.

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“The cost has climbed to $270 U.S., and she has increased her own prices in turn.

“Sadly, fewer people are now coming to our place.” – The Washington Post

*Bernard Mpofu in Harare contributed to this report.

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Hwange

Hwange MP challenges government over Nambya teacher deployment

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BY NOKUTHABA DLAMINI

Hwange East legislator Joseph Bonda has called on the government to address what he describes as the marginalisation of the Nambya language in schools, arguing that current teacher deployment policies are undermining early learning in Matabeleland North.

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According to the National Assembly’s official record of 7 April 2026, Bonda formally asked the Minister of Public Service, Labour and Social Welfare to explain why trained Nambya-speaking teachers are not being employed in Hwange District while non-speakers are posted to the area.

He said the practice was “depriving children of receiving instruction in their mother tongue at the early education stage”, which he described as critical to both educational outcomes and cultural development.

Under Zimbabwe’s language policy framework, learners are expected to be taught in their mother language in the early grades. Critics say failure to align teacher deployment with local languages weakens that principle in practice.

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Despite the concerns raised, the matter remains unresolved in Parliament. The inquiry was deferred on 18 March and, at the latest sitting, the ministry had yet to provide a formal response.

Parents in the district say the issue has direct consequences for children’s performance.

“Our children are disadvantaged from the start,” said Ester Ncube, a parent in Jambezi under Chief Shana. “If a child cannot understand the teacher in Grade One, it affects everything that follows.”

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Community leaders argue that the debate goes beyond classroom instruction and touches on identity.

“Language is part of who we are,” said local elder Eliziya Vashe Shoko. “If schools do not teach in Nambya, we are slowly losing our identity. Government must take this seriously.”

Young professionals in the province say the challenge is not a shortage of qualified personnel but gaps in recruitment and deployment.

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“There are trained teachers who speak Nambya, Lozvi, Chidombe and other local languages, but they are not being deployed here,” said Lindiwe Sibanda, a recent graduate.

“At the same time, teachers from outside are brought in. It does not make sense. These languages should be prioritised so that communities feel a sense of belonging and respect.”

The language dispute forms part of a wider push for regional equity in Matabeleland North. Bonda has also raised concerns over local employment quotas in the wildlife sector and what he describes as the exclusion of Hwange from national weather forecasts. He argues that these issues reflect a broader mismatch between national policy and local needs.

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SOURCE: CITE

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Zim’s backyard pharmacies boom as economic crisis bites

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BY VANESSA GONYE

Health experts have expressed growing concern over the emergence of illegal herbal creams and unregulated drug sales on the streets of Harare and throughout Zimbabwe.

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A disturbing increase in the presence and sale of unregulated medicines is bedeviling the country, with worry rising over the dangerous outcomes associated with these products.

In recent years, the capital has witnessed a sharp rise in informal drug outlets commonly referred to as “backyard pharmacies”.

 These unlicensed operations are often run from residential homes, tuckshops, market stalls, or simply from blankets laid on busy pavements.

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In recent years, the capital has witnessed a sharp rise in informal drug outlets commonly referred to as “backyard pharmacies”.

 These unlicensed operations are often run from residential homes, tuckshops, market stalls, or simply from blankets laid on busy pavements.

Surveys reveal that these backyard pharmacies operate without any quality control, cold chain storage, or professional oversight.

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Some of the drugs may be counterfeit, expired, adulterated, or incorrectly labelled.

Itai Rusike, the executive director of the Community Working Group on Health (CWGH), expressed alarm over the proliferation of these vendors, noting the trend puts patients’ health and safety at serious risk.

“The challenge is and has always been the gap in communicating the dosage schedule and indication for treatment,” Rusike said.

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“There is no accreditation or regulation of the practitioners, their practice, nor their premises, as is done for registered pharmacists trained in conventional medicine”.

Rusike also highlighted a dangerous lack of scientific data: “There is generally a lack of clinical trials, scientific data and evidence to support the efficacy of street medicines, despite some claims from treated individuals”.

He called for widespread health and treatment literacy programmes to stop citizens from “taking wild gambles” with their health.

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Rusike urged that: “the regulatory authorities should also be seen to effectively apply the laws regulating the sale of medicines in the country and protecting the health and safety of the general public without fear or favour”.

Johannes Marisa, president of the Medical and Dental Private Practitioners of Zimbabwe, echoed these concerns, stating that selling drugs from unregulated places is a major threat to public health.

“When we are talking of public health, we become very worried when we see drugs being sold everywhere,” Marisa said.

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He warned that counterfeit drugs can create a “false belief that you are recovering from something, yet you are taking a counterfeit drug, which does not work”.

He added that such practices prolong infections and increase both morbidity and mortality.

The trend is largely driven by economic hardships that have made formal healthcare unaffordable for many, alongside high unemployment that has pushed individuals into pharmaceuticals as a lucrative vending commodity.

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The Medicines Control Authority of Zimbabwe (MCAZ) has repeatedly warned that these unregistered products pose significant risks, including kidney and liver damage, high blood pressure, and increased cancer risk.

In response, the government has introduced stiffer penalties, with offenders now facing up to 20 years in prison.

SOURCE: THE STANDARD

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Hwange

Hwange MP raises alarm over wildlife jobs bias as locals back call for reform

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BY NOKUTHABA DLAMINI 

Hwange East legislator, Joseph Bonda, has taken the fight for local employment in wildlife conservation to Parliament, questioning why communities living alongside dangerous animals are being sidelined in job opportunities.

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In a question directed to the Minister of Environment, Climate and Wildlife, Bonda pressed for clarity on what measures are in place to ensure that residents of Hwange District are prioritised for employment by the Zimbabwe Parks and Wildlife Management Authority. He argued that locals, who bear the brunt of human-wildlife conflict, should be first in line for jobs in the sector.

The matter, however, did not receive an immediate response in the National Assembly and was deferred on 18 March 2026, leaving the concerns unresolved for now. 

Bonda’s intervention has resonated strongly with communities in Hwange, where wildlife is both a resource and a risk.

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“We live with these animals every day”

In Mabale, local villager Sibangani Ndlovu said it is unfair that outsiders benefit from jobs linked to wildlife while locals face constant danger.

“We live with these animals every day. Elephants destroy our crops, sometimes people are injured or killed. But when jobs come, they go to people from far away. That is not right,” he said.

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“Employment should be compensation too”

Another r, Memory Moyo from Dete, said employment in parks and safari operations should be viewed as part of community compensation.

“If we are expected to conserve wildlife, then we must also benefit. Jobs are one of the biggest benefits. Otherwise, people will start to see animals as a burden, not a resource.”

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Youth feel locked out

Young people in the district say lack of access to jobs in the wildlife sector is worsening unemployment.

Talent Ncube, a youth from Hwange, said many qualified locals are overlooked.

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“We have people trained in tourism and conservation here, but they are not getting opportunities. It discourages us as young people because we feel excluded from our own resources.”

Growing pressure on government

Bonda’s question adds to mounting pressure on government to align conservation efforts with community benefits, especially in areas like Hwange where human-wildlife conflict is frequent.

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With the issue now formally raised in Parliament, residents say they are waiting to see whether authorities will respond with concrete policy changes—or whether, like many rural concerns, it will remain unresolved.

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