Connect with us

Slider

Zimbabwe goes for the gold — the Mosi-ao- Tunya coin, that is — to fight high inflation

Published

on

BY LESLEY WROUGHTON

 With inflation soaring in Zimbabwe and the country’s currency in free-fall as people abandon it for the United States dollar, the government of President Emmerson Mnangagwa is fighting back with a novel strategy: gold coins.

Advertisement

Starting Monday, Zimbabwe is selling one-ounce, 22-carat gold coins bearing an image of Victoria Falls, its world-famous natural wonder.

Each has a serial number, comes with a certificate and will be sold at a price “based on the prevailing international price of gold and the cost of production,” the central bank said in its announcement on July 4.

The coins will be tradable both in Zimbabwe and overseas, the bank said, and can be exchanged for cash.

Advertisement

The goal is to reduce the quantity of Zimbabwe dollars in circulation to eventually restore its value.

What’s unknown is whether the approach has any real chance of success.

While gold is traditionally the ideal hedge against inflation and general economic uncertainty, no country has previously tried to tackle a weakening currency by selling gold coins.

Advertisement

“In that sense, it is unusual,” said Carlos Caceres, the International Monetary Fund’s representative to Zimbabwe.

And with gold trading at US$1,710 per troy ounce late last week, institutional investors may be the coins’ principal buyers.

“No ordinary person will be able to afford it,” said Prosper Chitambara, a senior researcher at the Labour and Economic Development Research Institute of Zimbabwe.

Advertisement

 “Right now, Zimbabweans are living hand-to-mouth.

 

Economic crises are nothing new to people in the southern African nation, who for more than two decades have faced hyperinflation, food and fuel shortages, staggering unemployment and other hardships.

Advertisement

For many, the current crisis recalls the late 2000s under then-president Robert Mugabe. Annual inflation hit a record 489 billion percent in September 2008, and shoppers carried garbage bags full of bank notes to buy groceries.

Mugabe’s government was forced to print a trillion-dollar note, the largest in world history, before the country abandoned its currency in 2015 for the US dollar.

Mugabe was forced to resign in 2017, and the Zimabwe  dollar, as it is known, was reintroduced two years later. But as confidence in it again falls, Finance minister Mthuli Ncube has warned that businesses refusing to accept the currency from customers could lose their trading licenses.

Advertisement

This year the Zimbabwe  dollar has already lost roughly 72 percent of its value against the US dollar.

Annual inflation reached triple digits in May, climbing again in June to 192 percent even as interest rates more than doubled — to 200 percent from 80 percent.

Chitambara said the government wants sales of the gold coins to moderate high demand for US  dollars, a key factor in the local currency’s depreciation.

Advertisement

If that happens, in turn reducing some of the excess money supply and easing inflationary pressures, “then it would’ve been a positive experiment,” according to Caceres.

Still, Caceres said, the IMF prefers tried-and-tested tools as it advises member countries on best economic policies.

When confronting both inflation and a weakening currency, such tools include raising or cutting interest rates to control inflation and tweaking the amount of money that banks must set aside as reserves.

Advertisement

Most of Zimbabwe’s inflationary pressures emanate from its currency troubles.

But rising prices are also being fueled by Russia’s invasion of Ukraine, which has sparked a global wave of inflation amid supply shortages of grains and fuel.

On the streets of the capital city of Harare, there isn’t much chatter about the new coin — the Mosi-ao-tunya, the traditional name for the Zambezi River waterfall. It translates to “the smoke that thunders.”

Advertisement

Vendor Trust Muyererwa is focused on his increasingly difficult day-to-day life.

“In January, I would pay $10 U.S. to buy a pack of mealie meal, cooking oil, sugar, and salt and this would push me through the month,” said Muyererwa, 28.

 “Now, a bottle of cooking oil costs $5 U.S., and I cannot buy much more” with the remainder.

Advertisement

Many people survive via a parallel, illegal market, with currency traders waiting on street corners and outside shopping centers waving bundles of US  dollars as well as Zimbabwe dollars.

Teachers and nurses went on strike in June and demanded that half their salaries be paid in US dollars to offset the tumbling local currency.

Retailers often are raising prices every other day, and more of them are starting to quote prices in US dollars.

Advertisement

The Zimbabwe central bank last month offered bakers access to foreign currency to keep down the price of bread.

Hilda Musungu (33) has started charging US dollars for the traditional meals she sells from her sidewalk stand because “no wants the Zimbabwean dollar anymore.”

“Last December, $200 US was enough for me to buy food packs to sell the whole day,” she explained.

Advertisement

“The cost has climbed to $270 U.S., and she has increased her own prices in turn.

“Sadly, fewer people are now coming to our place.” – The Washington Post

*Bernard Mpofu in Harare contributed to this report.

Advertisement

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

National

Unregulated mining pushes Zimbabwe toward environmental and public health crisis

Published

on

BY STAFF REPORTER

Zimbabwe is facing a deepening environmental and public health emergency driven by unchecked mining activities, with environmental experts warning that the situation has escalated into a national security concern.

Advertisement

The alarm was raised during discussions aired on recently at CITE, where environmental leaders unpacked the scale of ecological damage unfolding across the country.

Centre for Natural Resource Governance (CNRG) Executive Director Farai Maguwu said Zimbabwe’s mining boom has reached crisis levels, fuelled largely by economic decline and the collapse of formal employment.

“Mining has become the default survival strategy for many Zimbabweans,” Maguwu said, noting that widespread job losses and industrial shutdowns have pushed communities toward extractive activities as a quick source of income.

Advertisement

He warned that weak governance has allowed mining to spread into protected and ecologically sensitive areas, despite existing policies that prohibit such activities.

“We are seeing mountains disappearing and rivers being destroyed. Even with a ban on riverbed mining, enforcement has collapsed,” Maguwu said.

According to Maguwu, mining has encroached into UNESCO heritage sites and protected zones such as Mavuradona Wilderness, while areas like Shurugwi and Poterekwa Mountain have suffered extensive damage.

Advertisement

More concerning, he alleged that some law enforcement agents and senior officials are complicit in environmental destruction.

“In places like Penhalonga, elements within the police, military, senior government structures and intelligence services are allegedly part of mining syndicates,” he said, warning that the crisis now threatens national stability.

Maguwu also highlighted the dangers of mining beneath roads and residential areas, which he said could result in catastrophic collapses and flash floods.

Advertisement

“They are creating underground dams in mountains. When these give way, people will be swept away,” he said.

He criticised what he described as a lack of urgency from authorities in responding to the scale of destruction.

“If government is concerned about the future of this country, the current level of environmental damage should be setting off alarm bells,” Maguwu said.

Advertisement

He further explained that the shift from underground mining to open-cast methods has accelerated deforestation, land degradation and loss of agricultural land, undermining food security.

The uncontrolled use of toxic substances such as mercury and cyanide, particularly during the rainy season, has also heightened contamination risks.

“These chemicals are being dumped indiscriminately, with no punitive measures in place,” he said, warning that rainfall washes toxins into rivers, dams and streams.

Advertisement

Maguwu expressed particular concern for rural communities dependent on untreated water from shallow wells, especially in Marange and Matabeleland North.

“People are drinking contaminated water. The long-term health consequences are devastating and still unfolding,” he said, describing the crisis as an “environmental Armageddon.”

Similar concerns were echoed by Nkosikhona Sibanda, Executive Director of the Centre for Environmental and Corporate Accountability Research (CECAR), who said the crisis is nationwide.

Advertisement

In Matabeleland North, Sibanda said mining activity—particularly by Chinese-owned companies—has intensified in areas such as Hwange, Kamativi in Binga, and surrounding districts.

“When communities hear about foreign investment, they expect development. Instead, they are experiencing severe environmental degradation,” Sibanda said.

Studies conducted between 2024 and 2025, he added, revealed dangerous levels of air pollution in Hwange.

Advertisement

“The results were shocking. Air quality is far beyond safe limits, and people are breathing toxic substances daily,” Sibanda said.

Health facilities in affected areas have reportedly recorded a rise in respiratory illnesses and chronic diseases, underscoring the growing human cost of environmental neglect.

“This is no longer just an environmental issue—it is a public health emergency,” Sibanda said.

Advertisement

This report is based on information originally published by the Centre for Innovation and Technology (CITE).

Advertisement
Continue Reading

Slider

From skins to steaks — How wildlife trade is fueling communities in South Africa

Published

on

BY NOKUTHABA DLAMINI 

In the small town of Bela-Bela, a quietly flourishing business is unfolding — one that turns wildlife into livelihood, education, and economic opportunity. On a humid afternoon, we walked into the operations of Estelle Nel Taxidermy (and its parent networks), where rows of beautiful animal mounts — from antelope horns to zebra skins, skulls to full-body trophies — line the walls.

Advertisement

But beyond the busts and custom mounts lies a deeper purpose: this is not simply a display of hunting trophies. It is a system of sustainable use — where animals that die naturally or are hunted legally are completely utilised: meat, skin, horns, bones — nothing goes to waste, and everything acquires value.

As we discovered from our conversations, this network extends beyond taxidermy. Adjacent to the showrooms are processing facilities, butcheries, and game-meat wholesalers — all integral to transforming South Africa’s wild fauna into a formal, regulated, and sustainable economy.

“This is home” — an artisan’s vocation

Advertisement

I sat down with Melanie Viljoen, who serves as Export Secretary at Estelle Nel Taxidermy. Her voice was calm, resolute.

“For me, it’s like this is home and it’s something that I love to do. I love art. I studied art at school. I can’t think of anything else I’d rather do.”

She told us she’s been with the business for thirteen to fourteen years. Over that time she’s mastered a unique craft. “I’ve found my niche,” she said, “and I’m not going anywhere.”

Advertisement

Melanie explained how the business flows: outfitters bring in international clients to hunt on private farms, then process the animals: trophy mounts for some, meat for others. Locals also bring animals — sometimes for trophies, sometimes just for meat. There is even “school-mount” work: smaller species, sometimes a mother and its young, carefully preserved — not just for hunters, but for children to touch and learn about wildlife up close.

“We mount animals that have died naturally or were hunted… we use everything, from the meat to the skins and curls. It’s a sustainable way of doing business, and everything has a monetary value.”

This, she says, is both business and passion — blending artistry, conservation, and commerce.

From workshops to global markets — taxidermy meets commerce

Advertisement

According to membership details o South African Taxidermy & Tannery Association, Estelle Nel Taxidermy offers a wide range of services: from mounting mammals, birds, reptiles; tanning skins and capes; cleaning, mounting and articulating skulls, bones, horns, tusks; to producing novelty leather items, polished horn décor, engraved bones, hoof lamps — even gunbags and furniture. They offer full export packing and crating services, and help clients ship internationally.

What this means is that skins, hides and trophies — once the culmination of a hunt — become far more than personal souvenirs. They become export commodities, contributing to livelihoods of artisans, packers, shippers, and everyone in between.

Yet, as Pieter Swart President of South African Taxidermy & Tannery Association  (SATTA)/chairman of SUCO-SA) told us, that path to global markets is not without obstacles.

“Certain airlines allow the shipping of these trophies. I think it’s about four airlines that you can ship them overseas, but the rest refuse to take their hunting trophies to destinations. As well as the sea shipments — there’s only one ship going to America every three months. The rest of the shipping lines refuse to take hunting trophies.”

Advertisement

He lamented the difficulty in logistics. And yet, he sees themselves as part of a broader — and misunderstood — effort. “This anti-animal works movement created the idea that hunting is killing the animals and destroying them to extinction — but that is actually quite the opposite,” he said. “More and more, the guys are farming the animals; that is creating a better future for the animals.”

In other words: regulated, sustainable use — of every part of the animal — can coexist with conservation, economic empowerment, and community upliftment.

Game meat: from farm to fork

Advertisement

Next door to the taxidermy showroom, we toured a modest but hygienic meat-processing Camo Meat facility, run by people like Ina Hechter. They explained that their business started small — in 2012 as a private processing butcher for animals from farms. Around 2017 they expanded into wholesale for local markets. Export remains limited, but local demand is growing.

Their meats include species typical of the South African game-meat industry: kudu, impala, springbok, wildebeest, zebra and others. What began as a niche — somewhat stigmatised — trade is slowly gaining acceptance. Some supermarkets and lodges are carrying game meat; more restaurants are offering “veld flavour.”

Ina told me that in times of drought — when traditional livestock farming may suffer — game-meat businesses often see increased activity. Farms with overstocked wildlife or animals unable to survive drought may harvest and sell meat, skins and other resources. In this way, what might have been a loss can become income, conservation, and food security.

Advertisement

“Our parks are so small that they can’t sustain all the animals that are there,” Ina said. “Especially in drought years … when it’s not raining a lot you will see they die and then they sell the animals.”M

She sees game meat not only as a business, but as part of a broader sustainable economy — offering healthy, lean protein to consumers, easing pressure on overburdened habitats, and circulating value in rural and peri-urban communities.

More than meat and trophies — a conservation-economy model

What struck me during the tour was how holistic the operation is. It isn’t just about hunters bringing back trophies. It’s about using every bit of what exists: meat, skins, hides, horns, bones — even skulls, and decorative by-products. From full-body mounts to polished horn décor, from retail game-meat packages to furniture made from hoofs: this is a full-value chain.

Advertisement

Companies like Estelle Nel Taxidermy are members of formal trade associations and provide professional services — tanning, mounting, packing, export documentation — and in doing so, they help formalize trade in wildlife products.

Meanwhile, the game meat industry — though historically informal — is slowly growing more regulated. According to a recent national biodiversity-economy strategy, game-meat production supports economic growth, food security, and employment. The most commonly produced and consumed species: impala, kudu, wildebeest, springbok.

In other words: when properly managed, this sector has the potential to transform perceptions of wildlife — from being simply “wild animals” to resources that can feed, employ and uplift entire communities.

Advertisement

Challenges — logistics, stigma, regulation

But it’s not all smooth. As Pieter Swart highlighted, export logistics remain a bottleneck: only a few airlines transport trophies; shipping lines are often reluctant; sea freight to markets like the United States may come only every few months. This makes it harder for the industry to scale globally.

Domestically, the market for game meat and wildlife products still battles cultural and regulatory stigma. Many people still frown at game meat; supermarkets and restaurants are only slowly integrating it.

Advertisement

Regulation is another issue: for the industry to be sustainable, wildlife needs to be farmed or managed responsibly, harvesting must follow quotas, and processing must meet health and safety standards. When abattoirs, tanneries, and exporting agents comply with regulation, this gives the industry legitimacy — but it also requires oversight, capacity, and buy-in from all stakeholders.

A snapshot

Our visit painted a picture of a wildlife economy that’s evolving: where skilled artisans turn skins, horns, skulls into enduring art; where processors supply game meat to homes, restaurants and hotels; where farms, outfitters, taxidermists, meat processors, exporters, and even children (learning from mounted displays) all form part of an ecosystem.

It’s a world that challenges simplistic ideas of wildlife as either “pristine wilderness” or “endangered species.” Instead, it shows how — if managed with respect, regulation, and purpose — natural resources can sustain livelihoods, build economies, and forge a bridge between conservation and commerce.

Advertisement

For many of those involved — from Melanie Viljoen to Ina Hechter and Pieter Swart — it’s not just business. It’s home. It’s art. It’s the future.

Advertisement
Continue Reading

In the community

Foot and mouth disease outbreak in Mat North

Published

on

BY NIZBERT MOYO

The provincial Veterinary Department has urged farmers to comply with livestock movement regulations following an outbreak of the Foot and Mouth Disease (FMD) in some parts of Matabeleland North.

Advertisement

Acting provincial veterinarian Gwinyai Zhandire confirmed the outbreak to Southern Eye, saying the government has instituted movement controls, vaccination and active surveillance in the affected areas.

“There are some dip tanks affected in the Nyamandlovu area,” Zhandire said.

“The government has instituted movement controls and vaccination, and we are conducting surveillance.

Advertisement

“Farmers are encouraged to observe and comply with livestock movement regulations to prevent further spread.”

He highlighted that the rainy season increases the risk of other livestock diseases.

With tick populations on the rise, farmers should be vigilant against tick-borne illnesses such as Anaplasmosis (Gall Sickness), Theileriosis (January Disease), Ehrlichiosis (Heartwater) and Babesiosis (Redwater).

Advertisement

“Weekly dipping is encouraged to prevent transmission between animals,” Zhandire said.

He emphasised the importance of routine vaccination against other seasonal threats, including anthrax and lumpy skin diseases.

The outbreak has also affected farmers in the Umguza area, who have similarly been directed to adhere to animal movement restrictions.

Advertisement

Foot and mouth disease is a highly contagious viral disease that affects cloven-hoofed animals, including cattle, sheep and goats.

The disease is characterised by fever and the development of painful sores or blisters in the mouth and on the feet, often leading to severe lameness and a drop in productivity.

The virus spreads easily through direct contact between animals, as well as via contaminated equipment, vehicles and feed.

Advertisement

The disease can result in significant economic losses in the livestock industry due to trade restrictions and animal health costs.
Source: Southern Eye

 

Advertisement
Continue Reading

Trending

Copyright © 2022 VicFallsLive. All rights reserved, powered by Advantage