National

Zimbabwe shuts down popular website in forex crackdown

Published

4 years ago

October 21, 2021

BY RAY NDLOVU

Zimbabwean authorities shut down a popular black-market currency-tracking platform, the latest action to try and stop an accelerating decline in its currency.

The central bank ordered marketwatch.co.zw and other sites that publish parallel-market currency rate to shut down, governor John Mangudya said in a phone interview.

The website has been used by residents and businesses to guide their purchases of foreign exchange on the streets of the capital, Harare, which they are forced to resort to when weekly central bank auctions don’t provide enough to meet demand.

Zimbabwe follows Nigeria, Africa’s biggest economy, in blaming online platforms for fueling the collapse of their currencies.

Nigerian authorities last month targeted abokiFX, a platform that tracks the unofficial naira exchange rate, after central bank governor Godwin Emefiele accused the company of manipulating the exchange rate. abokiFX denies any wrondoing.

“It’s cybercrime,” Mangudya said. “How is the rate determined on the computer? It’s based on nothing but hot air.”

Marketwatch.co.zw was unavailable on Wednesday morning, with a notice saying: “Sorry, this website is no longer in service.”

The Zimbabwean dollar weakened 3.2 percent on Tuesday to 93 per dollar — the biggest decline in 14 months. It’s plunged to about 175 per dollar on the parallel market in recent weeks.

Instability in the foreign-exchange market is being driven by an unrelenting growth in money supply, increasing imports and long delays in settlement at the central bank’s weekly currency auction, the Chamber of Zimbabwe Industries said last week.

To halt the currency’s decline, authorities have taken steps including arresting black-market traders and launching a probe into a currency abuse claim against Simbisa Brands, the nation’s largest fast-food giant.

Businesses that peg their prices using unofficial market rates have been threatened with having their operating licenses revoked. – Bloomberg

National

Coal train in flames: NRZ locomotive damaged in fire incident

Published

1 month 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.