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Zimbabwe banks on cows as inflation soars

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HARARE – They are an investment on four hooves. Cattle have become a safe financial option for some Zimbabweans.

Hyperinflation in the southern African nation has led to a loss of public confidence in banks and conventional pension systems.

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Zimbabwe’s annual inflation rate jumped to 192% in June, the highest level over a year. The reason behind this is the war in Ukraine, which is driving global commodity prices higher.

Over the last 20 years, many citizens have lost savings in banks and pension funds.

The “mooing bank”

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Some are now looking for safer ways to protect their investments. And one option is investing in cattle.

Ted Edwards is the chief executive officer of Silverback Asset Managers, which some also mockingly call a “mooing bank.”

It is a unit trust primarily based on cattle. But, according to Edwards, business is booming.

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“Cows seem to be a safe option for some,” Edwards said, adding that some asset management companies are creatively coming up with the old tradition of investing in cattle to create wealth for investors.

Edward’s asset company has established a unit trust investment vehicle where citizens can invest in cattle using the local currency.

Cattle holds stable value

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Over time, cattle have proven that they can absorb inflationary shocks, Edwards told DW.

“What we have done is to create a unit trust fund called Mombe Mari trust fund. We have essentially unitized cattle into the trust fund as a means of attracting investment into the cattle industry.”

Currently, one unit is equivalent to hundred kilograms of live cattle.

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“It is open to investment for anyone out there who wants to buy units in the unit trust.”

While a cattle unit trust may be a new phenomenon in Zimbabwe, cattle have traditionally been a source of wealth for rural farmers.

Investing in cows gives you more control: farmer

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In the southern part of Zimbabwe, a region predominantly suitable for cattle ranching, farmer Zenzele Ndebele says he has never regretted investing in cattle.

Ndebele has managed to withstand the inflation pressures that the country is experiencing.

“I have a certain control over what I can do with my cattle,” Ndebele told DW.

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“You can really calculate. Your cattle will add value over a period. Then, you can sell if you want to sell.”

Cattle essentially retain their value regardless of inflation swings.

In addition, they yield value long-term due to their potential reproduction rate of around one calf a year.

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How the cow scheme works

While a group of investors can, for example, invest in a whole cow, individuals can buy shares in a cow or calf.

When a cow produces offspring, the value of that calf is added to the client’s portfolio.

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Male calves can later be sold as a bull, and proceeds are used to procure the equivalent value in female calves.

Selling high-quality specimens also adds to the returns.

Risks involved: Droughts and diseases

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Cattle have long been considered a measure of wealth across Africa.

According to the Food and Agriculture Organization (FAO), livestock accounts for 35 percent to 38 percent of Zimbabwe’s Gross Domestic Product (GDP).

Investing in livestock has its own challenges though. Just as monetary investments could be eroded by inflation, cattle can be affected by droughts and diseases.

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However, economists like Gift Mugano say the investment option is far much safer in a volatile environment like Zimbabwe.

Gold coins or cash cows?

“To have investments in cows or animals is a better investment opportunity than gold coins,” Mugano told DW.

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“When the animals drop their offspring, that is your interest rate. It is a better bank than going to the bank and put money that is eroded by inflation.”

Zimbabwe’s central bank started selling gold coins to the public in July to help protect people’s savings against the country’s runaway inflation.

The gold coins are sold in local currency, US dollar, and other foreign currencies.

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The Mosi-oa-Tunya gold coin, named after Victoria Falls, is mostly made of gold and can be used for purchases in shops as well as be used as security for loans and credit facilities. – DW

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National

CCC legislators in road accident, Nkulumane MP dies

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BY STAFF REPORTER

One Citizens Coalition for Change (CCC) legislator has died while four others were seriously injured in a road accident that occurred early Friday morning near Shangani along Bulawayo-Harare highway.

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CCC spokesperson Promise Mkhwananzi confirmed the accident, saying it happened between 2 a.m. and 3 a.m. when the vehicle carrying the members collided with an elephant.

“The vehicle hit an elephant along the Shangani area, and unfortunately Honourable Desire Moyo, the Member of Parliament for Ngulumane, died on the scene,” Nkwananzi said.

He added that the other occupants — Honourable Madalaboy Ndebele, Senator Rittah Ndlovu, Honourable Sethulo Ndebele, and Libion Sibanda — sustained serious injuries and were rushed to a hospital in Bulawayo.

Nkwananzi said he was deeply shocked by Moyo’s death, as he had met him just yesterday in Harare.

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“I had seen Moyo yesterday and we spent about an hour chatting outside Jamieson Hotel about the party and our future plans for national development,” he said. “I’m gutted by his passing. It’s a huge loss for the party.”

He conveyed his condolences to the Moyo family and wished a speedy recovery and strength to the families of the other CCC members who remain in critical condition.

He said further details, including the name of the hospital where the injured are receiving treatment, would be released once confirmed.

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Doctors slam delays in using sugar tax funds for cancer treatment equipment

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BY WANDILE TSHUMA 

The Zimbabwe Association of Doctors for Human Rights (ZADHR) has expressed concern over the government’s continued delays in disbursing funds from the Sugar Tax meant for the procurement of cancer treatment equipment.

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In a statement released yesterday , ZADHR said it was deeply worried by the slow pace of progress, two years after the introduction of the levy that was expected to finance the purchase of essential medical equipment for cancer patients across the country.

According to the association, by November last year, the Ministry of Finance and Economic Development had confirmed collecting US$30.8 million through the sugar tax — a surcharge imposed on sugary drinks and beverages. However, no disbursement had yet been made to the Ministry of Health and Child Care for the intended purpose.

“This delay undermines the purpose of the Sugar Tax, which was intended to improve public health outcomes through targeted investment in non-communicable disease management, including cancer prevention and treatment,” ZADHR said.

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Zimbabwe currently bears one of the highest cancer burdens in Southern Africa, with an age-standardised incidence rate of 208 per 100,000 people and a mortality rate of 144 per 100,000, according to Globocan 2022 data. These figures surpass those of neighbouring countries such as South Africa, Namibia, Zambia, and Botswana.

The association warned that the government’s inaction continues to worsen the plight of thousands of patients who face long waiting lists and limited access to treatment.

“The country records over 17,700 new cases and nearly 12,000 deaths annually, largely due to late diagnosis and inadequate treatment capacity,” read the statement. “This growing burden strains Zimbabwe’s fragile health system, escalates household health expenditures, and undermines productivity.”

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ZADHR called on the Ministry of Finance to urgently release the collected funds and for the Health Ministry to ensure transparent procurement and installation processes once funds are received.

The association also urged the Ministry of Health to build technical capacity among staff to maintain and effectively utilise the new equipment once installed.

“Equitable access must be at the centre of this rollout. Beyond the main Central Hospitals, provincial and district centres should also benefit to ensure no patient is left behind,” ZADHR added.

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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.

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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.”

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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.”

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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.

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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.

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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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