National

US dollars dethrone Zimbabwe’s currency for second timeBy

Published

2 years ago

April 6, 2023

BY GODFREY MARAWANYIKA AND RAY NDLOVU

The greenback has replaced the Zimbabwean dollar as the most-used currency in the southern African nation for a second time, almost four years after the re-introduction of the local unit.

US dollars were utilised for 77% of transactions this year, surpassing the proportion that were conducted in the local currency for the first time since it was reissued in June 2019, data compiled by the statistics agency shows. The Zimbabwean dollar was abolished in 2009 and replaced mainly by the US dollar after an episode of hyperinflation rendered it worthless. It was reintroduced in an attempt to revive the stagnating economy.

A government decision in June to officially reintroduce the greenback as legal tender to rein in surging inflation and stabilise the nation’s tumbling exchange rate has hastened the move away from the local currency. The Zimbabwean dollar has depreciated 91% against the US dollar in the last two years to trade at 944 at the official rate and about 1 600 on the parallel market.

In demand
Businesses now charge in greenbacks for everything from food, fuel to medicines as they see the currency as a better store of value. Cement maker PPC’s local unit said in its latest financial statement, that 79% of sales were in dollars.

The government’s revenue collection practices have contributed to the dollars’ resurgence, said Gift Mugano, an economics professor at the Durban University of Technology. “Passports are paid for in dollars, some taxes in foreign currency, fuel is in dollars and you can also pay toll gates in dollars,” he said.

Last month the statistics agency adopted blended inflation, which tracks prices in dollars and the local currency over one that assessed costs only in Zimbabwean dollar terms, as it better reflects the realities of the economy.

The new gauge indicates inflation has been less severe than the one measured in local-currency terms.

The economy for all intents and purposes is largely dollarised,” said Prosper Chitambara, a Harare-based economist.

The central bank’s monetary policy committee attributes the dominance of the greenback to “significant foreign currency inflows into the economy” in 2022. A trend “expected to continue” this year, Governor John Mangudya said in a statement last month.

The shift comes as China has made the internationalisation of the yuan a top priority and countries including Russia, India and Saudi Arabia have sought to include non-dollar payments in their financial systems to reduce their dependence on the US. Last year’s sanctions on Russia and the sharpest tightening in monetary policy by the US Federal Reserve in decades, have brought a new sense of urgency among some nations to do so.

The surge in dollar usage has also led to increased demand from workers to be paid in greenbacks. Miners in March clinched a deal to receive the bulk of their pay in dollars, the first such wage agreement in five years.

Treasury also announced a salary hike for public servants last month that included an increase in Zimbabwean dollars and increments in greenbacks.

The current dollarisation is accepted by authorities as it helps foster confidence in the economy, according to Persistence Gwanyanya, a member of the central bank’s MP-Bloomberg

National

RemitHope launches “100 for 10” campaign to raise $100K for grassroots organisations across Africa

Published

1 day ago

September 17, 2025

VicFallsLive

BY STAFF REPORTER

RemitHope, a pioneering fintech social enterprise – founded by global philanthropist and social entrepreneur Tsitsi Masiyiwa – has launched a bold campaign to raise US$100 000 in just 60 days for 10 grassroots organisations serving some of Africa’s most vulnerable communities.

The campaign – themed “100 for 10” – seeks to channel life-changing support to organisations on the frontlines of health, education, gender equity and community resilience.

The 10 beneficiaries span nine African countries, including Cancerserve (Zimbabwe), Cáritas Regional De Chokwe (Mozambique), Empowered Girls (Tanzania), Ewang’an Nadede Advocacy Initiative (Kenya), Child Restoration Outreach (Uganda), Hands of Hope (Zimbabwe), Bana Ba Metsi (Botswana), Njira Impact (Malawi), Phelisanong Children’s Centre (Lesotho) and Refugee Children’s Project (South Africa).

“The 100 for 10 campaign is intended to harness the transforming power of small acts of generosity into life-changing opportunities for communities too often overlooked. And every dollar given delivers hope, dignity, and the promise of progress,” Mrs Masiyiwa said.

Running from September 15 to November 15, 2025, the campaign pivots RemitHope’s unique model of transparency, real-time storytelling and direct funding to vetted local partners, ensuring every contribution makes a measurable difference.

In a powerful show of commitment, and leveraging its network of donors and partners, RemitHope has pledged to match every donation given, dollar-for-dollar – effectively doubling the impact.

“If you give $5 it becomes $10, give US$50 and it becomes US$100. This is multiplying hope, opportunities, and futures with every dollar donated,” she said.

The campaign builds on RemitHope’s recent success, where the platform raised over US$81 000 in funding to rebuild Mt Selinda Orphanage in Zimbabwe after a devastating fire swept through the institution.

That effort demonstrated RemitHope’s unique ability to mobilise rapidly, scale generosity and deliver urgent impact.

“We’ve witnessed how extraordinary things happen when people unite in moments of crisis. And now, with 100 for 10, we are channelling that same spirit beyond emergencies, for the long journey of community-led development,” Mrs Masiyiwa said.

RemitHope seeks to unlock the transformative potential of diaspora remittances – redirecting a portion of the more than US$90 billion sent to Africa annually, into structured, high-impact community giving.

By blending trust, technology and targeted generosity, RemitHope aims to mobilise US$50 million for grassroots organisations over the next five years.

National

New 600 schools vs. reality: Mat North rural students trek over 10 kilometers for class

Published

2 days ago

September 16, 2025

VicFallsLive

BY WANDILE TSHUMA

In a recent parliamentary session, the Minister of Primary and Secondary Education, Torerayi Moyo, proudly announced that the government has constructed over 600 schools across Zimbabwe between 2022 and 2025. “I can happily inform this House that we have constructed more than 600 schools,” he stated, adding that “this year, we are targeting to build not less than 200 schools in 2025.”

Despite this achievement, reports from Matabeleland North province reveal a stark contrast, where students in rural areas often walk over ten kilometers to reach their nearest secondary schools. For example, in Nkayi, learners from areas such as Menda and Mantshololozane must travel long distances to access secondary education at Tohwe and Nkayi High Secondary Schools, which are situated more than ten kilometers apart. This trend has persisted, making it difficult for many students to pursue beyond primary education.

While the Minister emphasized the government’s commitment to educational development, the experiences of many rural students paint a different picture. One legislator noted, “We were informed in this House that we have a deficit of 3 000 schools in Zimbabwe… what could have probably caused the mushrooming of these schools is the fact that there is a gap, and children do not have to walk long distances.”

In response to the issue of unregistered schools, Moyo addressed concerns, stating, “It is mandatory for any school to be registered before they can operate.” He explained that there is a dedicated department responsible for school registration and encouraged those operating illegally to regularize their status.

National

Four men on the run after allegedly killing man over relative’s death

Published

2 days ago

September 16, 2025

VicFallsLive

BY STAFF REPORTER

Four people from Silobela are being sought by the Zimbabwe Republic Police for their alleged involvement in a gruesome murder that took place on Sunday.

The police are investigating the murder of 21-year-old Thandelwenkosi Moyo, who was allegedly killed by the four suspects after being accused of killing their relative.

According to the police report, the incident occurred at Munklenuck Village, Inyathi.

The accused have been identified as Nyoka, Zizimuzi, Mboya, and Aweli.

The police report states that the four suspects took turns to attack the victim with booted feet and a sharp object, resulting in his death at the scene.

The Zimbabwe Republic Police is appealing to anyone with information about the whereabouts of the suspects to come forward and report to the nearest police station.