If it has not already happened, Zimbabwe is flirting with hyperinflation at the moment. Prices of basic commodities such as sugar, mealie-meal and other basic necessities have been going up at least on a daily basis now. ZimState and other government entities tasked with measuring inflation have not published any recent figures but both month to month and year on […]
There is a rather bizarre article in today’s (5 June 2019) article. According to this state-owned publication, parallel market rates for the US dollar are falling. It goes on to cite “evidence of this” fall.
PARALLEL market exchange rates have tumbled from a peak of US$1:RTGS$9 recently and remain frozen at US$1:RTGS$6 since last week amid indications the rate could drop […]
Zimbabwe and the International Monetary Fund (IMF) have agreed to have the later monitor it’s political and economic reforms. The program dubbed IMF staff-monitored programme is meant to convince donors and creditors to forgive Zimbabwe’s external debt.
Key highlights of this program so far
- According to the IMF due to the austerity measures adopted by Zimbabwe, our economy will shrink by […]
Zimbabwean businesses now have to grapple with erratic electricity supply on top of everything else. According to ZESA low water levels at Kariba have made it necessary to introduce load shedding. Businesses such as mines rely on electricity for most of their operations.
According to the new Energy Minister, Fortune Chasi, all mining businesses have to do to get guaranteed supplies […]
With prices changing on a daily basis, we all know how difficult planning has been. It has been different for most businesses in our economy. Insurance and assurance companies have been hard hit by rising inflation. Zimnat is now the latest company to introduce a US dollar based plan. USD are relatively stable in value compared to our volatile RTGS […]
The black market rates for USD and an increase in grain prices are likely to result in meat shortages in Zimbabwe in the near future. The Zimbabwean government decided to remove subsdies for wheat, maize, soya and other grains recently.
This has had an understandable seismic impact on the price of mealie-meal and bread. Brad which used to sell for $1.80 […]
Ecocash have doubled their send money limit from $500 RTGS to $1 000 RTGS. With prices of goods skyrocketing on a daily basis this move makes sense. In fact I feel they should have raised the limit to $5 000 RTGS.
Ever since we had a cash crisis we have had to rely on Ecocash. The problem nowadays is that for […]
Ecocash, a subsidiary of Cassava Smartech Zimbabwe Limited, has issued a statement to the public warning them to be aware of and avoid fraudulent investment schemes. There has been an increase in a number of scams on social media platforms such as WhatsApp where people are being asked to invest via Ecocash and promised unrealistic returns which never materialize.
WARNING!! Fraudulent […]