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Ncube wants to use IMF windfall to rescue Zim dollar

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HARARE – Zimbabwe will use more than half of the $961 million allocated by the International Monetary Fund in the form of special drawing rights to support its beleaguered currency.

The government abandoned a 1:1 peg between a precursor of the reintroduced Zimbabwe dollar and the greenback in February 2019.

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The currency now trades at 85.82 to the United States dollar and even lower on the black market, a plunge that’s made it difficult for the government to get it accepted locally, and it’s generally not tradable outside the country.

“For the support of the currency we want to hold back about $500 million,” Finance Mthuli Ncube said in an interview on Tuesday.

The southern African nation abandoned the Zimbabwe dollar in 2009 after inflation rose to 500 billion percent, according to the IMF, and legalized trade in a range of currencies including the US dollar and South African rand.

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The economy had tanked after a failed land-reform program began in 2000 that saw the seizure of White-owned commercial farms and the subsequent collapse of export earnings.

Zimbabwe’s remaining SDRS will be used to support the acquisition of Covid-19 vaccines, investments in schools, hospitals and roads and other priorities, Ncube said.

Revolving funds will also be set up to help manufacturers and mining companies buy new equipment, and to revive the horticulture industry by encouraging the cultivation of roses, macadamia nuts and blueberries, he said.

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The IMF injected a record $650 billion of reserve assets to build confidence and foster resilience and stability in the global economy in the wake of the devastation caused by the coronavirus pandemic.

The reserves are allocated to all 190 fund members, with about 70% going to the Group of 20 largest economies and just three to low-income nations.

Zimbabwe won’t use any of its reserves to pay down the more than $8 billion in external debt it owes, even though its arrears have effectively blocked it from borrowing more money from multilateral lenders.

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Ncube also confirmed the government was considering borrowing money from private creditors to compensate the White farmers. Bloomberg first reported on the funding option on August 16.

Zimbabwe has agreed to pay the farmers $3.5 billion, half of which is due in July next year, to settle the two-decade old dispute that’s soured relations with Western countries, including the US and the United Kingdom.

“The idea is a special-purpose vehicle out of which we can then raise resources on the back of some escrowed tax revenues from specific sources that are ring-fenced,” Ncube said, adding that the tax could be in the form of mining royalties.

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Zimbabwe exports platinum, gold, nickel and chrome.

Another proposal under consideration is the local sale of a US dollar bond, the minister said. – Bloomberg

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National

Migration on the rise: Matabeleland North tops outbound movement in latest ZimLAC report

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BY NOKUTHABA DLAMINK

Matabeleland North has recorded some of the highest levels of migration in Zimbabwe, with 12.6% of households moving to urban areas and 7.8% leaving the country, according to the 2024–2025 Zimbabwe Livelihoods Assessment Committee (ZimLAC) report.

The figures highlight a growing trend in which families are uprooting in search of work, education, and better living conditions, with the province’s migration rate well above the national averages of 9.9% for rural-to-urban moves and 5.0% for emigration.

For many in Matabeleland North, economic necessity drives these decisions.

“I had to send my son to Bulawayo because there was simply no work here,” said Thabani Ncube, a smallholder farmer in Lupane. “Even piece jobs have dried up. At least in town, he can hustle and maybe support the family.”

The ZimLAC report shows that employment opportunities are the leading reason behind rural-to-urban migration nationally (6.3%). In Matabeleland North, 7.7% cited education as the next big pull factor, followed by new residential land and improved living standards.

Experts warn that while migration can bring relief through remittances, it also risks hollowing out rural communities.

“This trend is a double-edged sword,” explained Dr. Nomalanga Sibanda, a livelihoods researcher in Bulawayo. “Families may benefit from remittances, but local economies lose critical labour and skills. Over time, this weakens resilience in rural districts.”

Other Provinces: Contrasting Patterns

Matabeleland South recorded the highest rate of emigration, with 13.5% of households reporting that members had left the country — nearly triple the national average. Masvingo followed closely, with 16.5% moving to towns and 7.7% leaving for the diaspora.

Meanwhile, Mashonaland Central had the lowest levels of outward movement, with just 4.4% moving to towns and 1.0% emigrating.

Midlands also stood out, with 12.9% shifting to urban areas and 6.2% relocating abroad, driven mainly by job opportunities and schooling.

National Picture

Across Zimbabwe, nearly one in ten households (9.9%) reported rural-to-urban migration, while 5% indicated emigration outside the country. Employment, education, and improved living standards remain the strongest motivators.

For ordinary families, the story is about survival and hope.

“My husband left for South Africa last year,” said Memory Dube of Gwanda, Matabeleland South. “He sends money when he can, but life is tough there too. Still, we rely on that income to buy food and pay school fees.”

ZimLAC, which advises the government through the Food and Nutrition Council (FNC), says the data will guide evidence-based interventions. The report stresses that migration trends are not just statistics, but reflect deeper issues of economic opportunity, resilience, and service delivery across provinces.

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National

Zimbabwe selected for groundbreaking HIV prevention initiative

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BY STAFF REPORTER 

The U.S. Embassy in Zimbabwe has announced an exciting development in the fight against HIV: Zimbabwe has been selected as one of the ten countries globally to roll out lenacapavir, a breakthrough in HIV prevention.

“Yes Zimbabwe, it’s happening!” the embassy declared, highlighting the significance of this initiative.

“For decades, we’ve fought to turn the tide against this epidemic, and each day we get closer,” the statement continued. This new treatment represents a pivotal moment in HIV prevention efforts, as it is the first twice-yearly HIV prevention medicine.

The implementation of lenacapavir is made possible through a partnership with U.S.-based Gilead Sciences and the Global Fund. A key finding from a large-scale clinical trial shows that more than 99% of people on lenacapavir remained HIV negative. While this has the potential to save millions of lives, the Embassy emphasized that for Zimbabwe, it represents a major step toward ending new infections.

“But this is more than medicine—it advances us on a pathway to a safer, stronger, and healthier future!” noted the embassy’s announcement.

The initiative particularly focuses on pregnant and breastfeeding women, aiming to protect the next generation. It will also work toward strengthening healthcare systems, empowering Zimbabwe to lead its own fight against HIV. Moreover, the goal of making lenacapavir more affordable and accessible ensures that no one is left behind.

The embassy highlighted, “This is American leadership at its best: driving innovation, and building a world where children, mothers, and communities can thrive.”

As this initiative rolls out, the message is clear: “Together, we’re not just fighting HIV—we’re winning.”

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In the community

Avoid nightime movement and stoning elephants, communities told

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BY NOKUTHABA DLAMINI 

Following a recent spate of human-wildlife conflict incidents, Zimbabwe Parks and Wildlife Management Authority spokesperson Tinashe Farawo has urged communities to exercise caution when encountering wild animals.

Farawo emphasized the importance of avoiding confrontations with elephants, particularly when they encroach into community areas. “We would like to urge members of the communities to avoid throwing stones at elephants,” he said. “This action agitates them, leading to attacks on people.”

In addition to avoiding confrontations, Farawo advised community members to minimize movement at night, as this is when wild animals are most active. “We would like to urge communities to avoid moving at night to minimize casualties,” he said.

Farawo’s comments come after a 79-year-old man from Hwange was killed by an elephant yesterday. The incident is still under investigation by rangers. This is the second fatal incident in the area, following the death of another man who was attacked by an elephant while on his way to work in Hwange town several weeks ago.

 

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