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Zimbabwe dollar’s second death predicted

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BY RAY NDLOVU

When Zimbabwean businessman Nigel Chanakira asked 100 chief executive officers at a seminar in Harare on January 27 if they were willing to use the local currency, only one raised his hand.

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That reluctance is a stark demonstration of the government’s failure to win confidence in the Zimbabwe dollar, the reintroduction of which Finance minister Mthuli Ncube has staked the stagnating economy’s recovery on.

For the second time in two decades, Zimbabweans are abandoning their local currency.

At restaurants, a simple request for “the rate” sees one’s bill halved if it’s met in hard currency, and supermarkets openly offer discounts for goods purchased in United States dollars.

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The government paid public workers their Christmas bonuses in dollars, and the revenue service collects a third of its income in greenbacks.

“We can’t deny the reality,” Chanakira, the founder and former CEO of now-closed bank Kingdom Financial Holdings Ltd., said in an interview.

“When you get the Zimbabwe dollar you spend it quickly. No one wants to save in that currency.”

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Between 2009 and 2019, Zimbabwe’s economy was dollarised after hyperinflation led the government to print trillion-Zimbabwe dollar notes before abandoning its currency, leaving the country’s name synonymous with economic malfunction.

While the subsequent dollarisation tamed price growth, it hurt businesses as neighbouring countries using their own depreciating currencies undercut Zimbabwean manufacturers.

“Zimbabwe had become uncompetitive by 2013 and was burdened by an expensive workforce,” John Legat, CEO of the country’s oldest brokerage, Imara Asset Management Ltd., said in a note to clients.

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In February 2019, the government dropped a peg that kept a precursor of the Zimbabwe dollar at parity with the US dollar.

In June, it was rechristened the Zimbabwe dollar and use of foreign currency was briefly outlawed.

Today the currency trades at 115 to the greenback, and more than twice that on the black market.

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While inflation slowed from a 12-year high of 837 percent in July 2020, it was at 61 percent in January, still rapidly eroding the value of the local unit.

Officials including Ncube, a former Oxford University lecturer, and Reserve Bank of Zimbabwe Governor John Mangudya, said government policy is to stick with use of the Zimbabwean dollar.

“The country is not re-dollarising,” Mangudya said in a interview on January 17. “We need to find a home for our currency.”

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Ncube and his ministry didn’t respond to requests for comment.

Alois Burutsa, the lone defender of the Zimbabwe dollar at Chanakira’s meeting, said in an interview that “without our own currency, our exports become uncompetitive.”

He’s general manager of Buy Zimbabwe, an organisation that promotes local goods.

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Capitulation

Yet central bank figures show that 44 percent of transactions in the country are conducted in greenbacks.

The American currency is used to pay for everything from fuel to food, passports, medicines and school fees.

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Econet Wireless Zimbabwe Ltd., the country’s largest mobile phone operator, offers additional airtime and data if purchases are made in US dollars.

With the Zimbabwe dollar untradeable outside the country, companies need foreign currency to pay for imported equipment, consumer goods, and to placate an increasingly dissatisfied workforce.

And it’s not only businesses that are seeking alternatives to the local currency.

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The government itself is increasingly finding it has to pay in US dollars if it wants to get things done.

Already it’s told public workers that they’ll be paid partly in hard currency this year.

According to Imara, the brokerage, 45 percent of infrastructure contracts are being met in dollars.

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“Dollarisation is the ultimate outcome of a failed economic policy,” said Gift Mugano, executive director at Africa Economic Development Strategies, a Harare-based consultancy.

The Zimbabwe dollar “will be in the graveyard” by June, he predicted. Imara says it’ll be largely obsolete by the end of the year.

Chanakira was more optimistic: he said the currency could survive for another two years. – Bloomberg

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World AIDS Day: UN Chief says ending AIDS by 2030 “is within grasp”

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BY SONIA HLOPHE

United Nations Secretary-General António Guterres has marked World AIDS Day with a message urging world leaders to scale up investment, confront stigma and ensure that lifesaving HIV services reach everyone who needs them.

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In his statement, Guterres said this year’s commemoration serves as a reminder that the world “has the power to transform lives and futures, and end the AIDS epidemic once and for all.”

He highlighted the major gains achieved over the past decade.

“The progress we have made is undeniable,” he said, noting that “since 2010, new infections have fallen by 40 per cent” while “AIDS-related deaths have declined by more than half.” Access to treatment, he added, “is better than ever before.”

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But despite this global progress, the Secretary-General warned that the crisis is far from over.

“For many people around the world, the crisis continues,” he said. “Millions still lack access to HIV prevention and treatment services because of who they are, where they live or the stigma they endure.”

Guterres also raised concern over shrinking resources:

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“Reduced resources and services are putting lives at risk and threatening hard-won gains.”

He said ending AIDS requires fully supporting communities, scaling up prevention and ensuring treatment for everyone.

“Ending AIDS means empowering communities, investing in prevention and expanding access to treatment for all people.”

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He also called for innovation to be matched by real-world delivery:

“It means uniting innovation with action, and ensuring new tools like injectables reach more people in need.”

Above all, he stressed the need for a human-rights centred response so no one is excluded.

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“At every step, it means grounding our work in human rights to ensure no one is left behind.”

With the 2030 global deadline approaching, the UN chief said success is still possible if momentum is sustained.

“Ending AIDS as a public health threat by 2030 is within grasp. Let’s get the job done.”

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Zimbabwe fast-tracks approval of long-acting HIV prevention drug Lenacapavir

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BY WANDILE TSHUMA

Zimbabwe has taken a major step in the fight against HIV following the rapid approval of Lenacapavir, a groundbreaking long-acting injectable for HIV pre-exposure prophylaxis (PrEP). The Medicines Control Authority of Zimbabwe (MCAZ) authorised the drug in just 23 days, marking one of the fastest regulatory approvals in the country’s history.

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The application, submitted by pharmaceutical company Gilead Sciences in October, underwent an expedited review because of its public health importance. MCAZ says the fast-tracked process did not compromise scientific scrutiny, with the product subjected to a rigorous assessment of its safety, efficacy and quality.

Lenacapavir is designed for adults and adolescents weighing at least 35kg who are HIV-negative but at substantial risk of infection. Unlike traditional daily oral PrEP, the medicine is administered as a six-monthly injection, following an initiation phase that includes one injection and oral tablets on Days 1 and 2. Health authorities say this long-acting formulation could dramatically improve adherence and expand prevention options, particularly for communities where daily pill-taking is difficult.

MCAZ Director-General  Richard T. Rukwata described the approval as a landmark moment in Zimbabwe’s HIV response.

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“The rapid approval of Lenacapavir reflects MCAZ’s dedication to accelerating access to trusted, high-quality health products. This milestone brings new hope for HIV prevention and reinforces our commitment to safeguarding public health,” he said.

To fast-track the process, the Authority applied a regulatory reliance approach, drawing on scientific assessments from the World Health Organization’s Prequalification Programme (WHO PQ). This allowed evaluators to build on internationally recognised review processes while ensuring Zimbabwe’s own standards were met.

The introduction of Lenacapavir comes as Zimbabwe continues efforts to reduce new HIV infections, particularly among young people and key populations who face barriers to consistent PrEP use. Public health experts say the drug’s twice-yearly dosing could be a game changer in improving uptake and protection.

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MCAZ says it remains committed to ensuring Zimbabweans have access to safe, effective and good-quality medical products, in line with its mandate under the Medicines and Allied Substances Control Act.

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Zimbabwe makes gains against TB

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BY WANDILE TSHUMA

The World Health Organization (WHO) data show that Zimbabwe continues to make measurable gains in its fight against tuberculosis (TB).

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According to the Global Tuberculosis Report 2025, Zimbabwe’s estimated TB incidence has declined to 203 per 100,000 population, representing a 3.8 % reduction from 2023. The report states that “TB incidence in Zimbabwe has fallen to 203 per 100 000, a 3.8 % reduction from 2023.” 

On treatment outcomes, the country’s overall success rate for all forms of TB has improved to 91 %, up from 89 % in 2023. The report quotes: “Treatment success for all forms of TB has improved to 91 %, up from 89 % in 2023.” 

For drug-resistant TB (DR-TB), progress has also been recorded: treatment success rose from 64 % for the 2021 cohort to 68 % for the 2022 cohort. As the report notes: “treatment success for drug-resistant TB increased from 64 % for the 2021 cohort to 68 % for the 2022 cohort.” 

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In the critical sphere of TB‐HIV co-infection, Zimbabwe saw a drop in the co‐infection rate to 49 %, down from 51 %. The report states: “TB/HIV co-infection rates have fallen to 49 %, down from 51 %.” 

Zooming out, the 2025 global report shows that across the world TB is falling again, although not yet at the pace required to meet targets. Globally, incidence declined by almost 2 % between 2023 and 2024, and deaths fell around 3 %. 

However, the report warns that progress is fragile. Funding shortfalls, health-system disruptions (especially during the COVID-19 era), and the ongoing challenge of drug-resistant TB threaten to erode gains. The WHO page reminds that the 2025 edition “provides a comprehensive … assessment of the TB epidemic … at global, regional and country levels.” 

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For example, although more people are being diagnosed and treated than in previous years, not enough are being reached with preventive interventions, and many countries are still far from the targets set under the End TB Strategy.

 

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