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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

In the community

Domestic violence takes a deadly turn: Hwange woman’s violent outburst lands her in jail

Published

4 days ago

July 24, 2025

VicFallsLive

BY STAFF REPORTER

A 19-year-old woman from Makwika Village has been sentenced by the Hwange Magistrate’s Court for domestic violence and assault after a violent incident occurred on June 2, 2025.

The court heard that the woman assaulted her husband after he confronted her over messages on her phone. She slapped him, grabbed his private parts, dragged him into the kitchen, and poured boiling water on his lower body, causing serious injuries.

A concerned neighbor who attempted to intervene was also burnt with boiling water on her chest and hospitalized.

The woman was sentenced to 12 months imprisonment for domestic violence and 24 months imprisonment for assault. However, 12 months of the assault sentence were suspended for 5 years on condition of good behavior, and the remaining 24 months were suspended on condition of performing 630 hours of community service.

The National Prosecuting Authority of Zimbabwe (NPAZ) has condemned the violent act, emphasizing that violence, whether in the home or community, is unacceptable.

“The law applies equally to all, and offenders will be held accountable,” said the NPAZ. “We encourage citizens to resolve disputes peacefully and report abuse immediately.”

In the community

Teenager sentenced to 18 months for knife attack on minor

Published

4 days ago

July 24, 2025

VicFallsLive

BY WANDILE TSHUMA

The Bulawayo Regional Court recently sentenced a 19-year-old male from Nkayi’s Maphosa Village to 18 months imprisonment for attempted murder after a violent knife attack on a 15-year-old boy at Gwamayaya Business Centre.

Allegations are that on April 18, at approximately 23:00 hours, the offender entered a shop at the business centre, causing a commotion. When customers attempted to calm him down, he became aggressive and charged at the victim, stabbing him in the left side of the stomach with a knife.

The victim was rushed to the hospital for medical attention, while the offender was arrested and charged with attempted murder.

In court, the offender was convicted and sentenced to 18 months imprisonment. However, six months of the sentence were suspended on condition of good behaviour, while the remaining 12 months were suspended on condition that he performs 410 hours of community service.

The National Prosecuting Authority of Zimbabwe (NPAZ) has condemned the violent act, urging young people to resolve conflicts peacefully and encouraging communities to play a role in early intervention.

“Violence is never the answer. Every life matters – walk away, don’t escalate,” said the NPAZ in a statement.

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Fastjet launches Bulawayo to Victoria Falls flights

Published

4 days ago

July 23, 2025

VicFallsLive

BY NOKUTHABA DLAMINI

Fastjet Zimbabwe is set to expand its domestic route network with the introduction of flights from Bulawayo to Victoria Falls, starting August 8.

The new route will operate four times a week, on Mondays, Wednesdays, Fridays, and Sundays.

According to Nunurai Ndawana, spokesperson for Fastjet Zimbabwe, “The new Bulawayo to Victoria Falls flight strengthens our presence in Bulawayo and underscores our commitment to the development of tourism region.” Ndawana added, “Our four times a week flights will offer more travel opportunities and support both leisure and corporate travel between the two cities, reaffirming our position as a key airline partner in connecting the Matabeleland region.”

Vivian Ruwuya, Fastjet Zimbabwe’s Chief Commercial Officer, noted that “This has been a long time coming. We have been monitoring the development and traffic trends between the manufacturing city of Bulawayo and our tourism hub of Victoria Falls. The introduction of a scheduled service is a result of widespread consultative engagements and collaboration with key players in the industry.”

Fastjet Zimbabwe will deploy its Embraer fleet on the new route, offering customers a comfortable flight experience. The flight schedule is as follows:

– BUQ-VFA Flight FN8111: Monday, Wednesday, Friday, Sunday, departing Bulawayo at 13:25 and arriving in Victoria Falls at 14:20.
– VFA-BUQ Flight FN8112: Monday, Wednesday, Friday, Sunday, departing Victoria Falls at 14:50 and arriving in Bulawayo at 15:45.