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zim currency

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Africa

Zimbabwe Commits to Backing New Currency with Reserves

Zimbabwe's central bank governor reassured Reuters on Wednesday that the government remains committed to backing its new currency, called Zimbabwe Gold or ZiG, with reserves. This commitment, he stated, aims to build trust among the population. ZiG marks Zimbabwe's sixth attempt at a local currency in 15 years, launched in April following periods of hyperinflation under former leader Robert Mugabe.

today18 July, 2024

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Business / Economics

11 April 2024 Morning Biz News: Biz Update: Key Developments in Namibia, South Africa, China, and Global Markets

1. Namibia-China Trade Surges: Namibia's trade relations with China have surged, marking a significant milestone with bilateral trade volumes surpassing N$24 billion in 2023. China solidifies its position as Namibia's second-largest trading partner, experiencing a notable 16.5% year-on-year growth in trade volume. 2. Sibanye Stillwater's Financing Strategy: South African company Sibanye Stillwater unveils plans to potentially raise around $500 million through prepayment arrangements, including metals streaming. This strategic move aims […]

today11 April, 2024