National

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

Published

7 months ago

October 3, 2024

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.

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.

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.

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.

“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.

National

Coal train in flames: NRZ locomotive damaged in fire incident

Published

2 weeks ago

April 16, 2025

VicFallsLive

BY WANDILE TSHUMA

A National Railways of Zimbabwe (NRZ) locomotive suffered significant damage after catching fire while transporting export coal to Zambi. The incident occurred between Kalala and Matetsi sidings, resulting in the explosion of the locomotive’s fuel tanks.

According to the NRZ press statement on Monday, “A National Railways of Zimbabwe locomotive suffered some damages after it caught fire this afternoon while transporting export coal to Zambia.” Fortunately, the crew members on board managed to escape unharmed.

The NRZ responded swiftly to the incident, dispatching a rescue train with crews to the site. The team successfully extinguished the fire, preventing further damage. However, the locomotive itself sustained considerable damage.

The cause of the fire is yet to be determined, with investigations currently underway. “Investigations are already underway to establish the cause of the fire and the amount of damage to the locomotive,” the NRZ statement read.

National

Ranger killed by elephant in Kariba

Published

2 months ago

March 14, 2025

VicFallsLive

BY NOKUTHABA DLAMINI

A 62-year-old ranger, Josphat Mandishara, was tragically killed by an elephant in Kariba yesterday.

Mandishara, who worked for the Zimbabwe Parks and Wildlife Management Authority (ZimParks), was on patrol in the Gatche-gatche area with fellow rangers and police officers.

At around 10 pm, Mandishara returned to the harbor where their boat was docked, and that’s when he encountered the elephant. The elephant charged at him, causing fatal injuries. His colleagues were nearby, resupplying at the Gatche-gatche Irrigation Scheme.

Mandishara’s body was taken to Kariba District Hospital for a post-mortem, and the incident was reported to the police.

ZimParks has sent a team to manage the problem elephant and prevent similar incidents in the future.

The Director General of ZimParks, Prof. Edson Gandiwa, and his team have sent condolences to Mandishara’s family, friends, and colleagues. Mandishara will be remembered for his dedication to wildlife conservation in Zimbabwe.

National

ZIMRA customs officer appears in court for criminal abuse of office

Published

3 months ago

February 3, 2025

VicFallsLive

BY STAFF REPORTER

A Zimbabwe Revenue Authority (ZIMRA) customs officer, Phillip Kuvenga, has been accused of criminal abuse of office for allegedly assisting in the importation of banned motor vehicles.

Kuvenga, 28, who is stationed at Victoria Falls, allegedly received documents from clients, completed valuation sheets, and carried out the valuation process. However, he is accused of endorsing different chassis numbers to deceive his supervisors during the validation and approval process.

After obtaining approval, Kuvenga would capture the correct chassis numbers in the ASYCUDA World System. He would then alter or replace the documents submitted earlier to his supervisors.

The offense came to light when a motor vehicle that had not yet arrived in Zimbabwe was found to have been already registered. A thorough check by ZIMRA led to Kuvenga’s arrest.

Kuvenga appeared in court on February 1, where he was denied bail by Magistrate Gift Manyka. He is expected to appear in court again today for another bail hearing.