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Zimbabwe to unveil roadmap to end dollar use, Cabinet says

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Hopewell Chin’ono holding his first ZIG

BY RAY NDLOVU

Zimbabwe’s cabinet said it has approved a roadmap to abandon US dollars in favor of its bullion-backed currency in transactions, a strategy that Finance Minister Mthuli Ncube may unveil next week.

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“On modalities to operationalize the ZiG currency as legal tender for use in the economy, a dedollarization roadmap is now in place,” Information Minister Jenfan Muswere told reporters Tuesday at a post-cabinet briefing held in the capital, Harare.

A Treasury spokesperson said via text message that Ncube may make an announcement next week, without providing a specific date.

The southern African nation is trying to shake off its heavy dependence on the dollar, the centerpiece of most economic activity for the past 15 years. The US currency now accounts for about 70% of all economic transactions in the economy, according to central bank data. At the April launch of the gold-backed ZiG, short for Zimbabwe Gold, dollars were used in 85% of transactions.

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President Emmerson Mnangagwa hinted at the possible adoption of the ZiG as the sole currency as early as 2026, ahead of an initial 2030 deadline — a proposal supported by bankers.

In the meanwhile, authorities plan to increase penalties against persons involved in “unjust price hikes, manipulation of the ZiG currency, smuggling and all forms of unfair trade practices,” to boost its use, Muswere said.

Authorities will increase fines from a minimum $200 to a maximum $5,000 or the ZiG equivalent, he said, without specifying the prior

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SOURCE: BNN BLOOMBERG

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Coal train in flames: NRZ locomotive damaged in fire incident

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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.

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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.

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Ranger killed by elephant in Kariba

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BY NOKUTHABA DLAMINI 

A 62-year-old ranger, Josphat Mandishara, was tragically killed by an elephant in Kariba yesterday.

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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.

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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.

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ZIMRA customs officer appears in court for criminal abuse of office

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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.

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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.

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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.

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