Zimbabwe Commits to Backing New Currency with Reserves

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.

July 18, 2024 21

Business / Economics

Recent Financial Developments: Namibia’s MetMast Inauguration, Zimbabwe’s Currency Plans, Wall Street Rally, and Crude Oil Surge

Namibia's Hyphen Meteorological Mast Inaugurated: President Nangolo Mbumba has officially inaugurated the Hyphen Meteorological Mast and its associated sensor equipment in Tsau //khaeb National Park, near Lüderitz, in the //Kharas region. Standing at 120 meters tall, the MetMasts are equipped with advanced instruments to measure various parameters such as wind, temperature, humidity, and solar irradiation. Zimbabwe Plans to Introduce New Currency: Zimbabwe's central bank announced plans on Friday to replace […]

April 8, 2024 17

Business / Economics

28 March 2024-A April 2024 Weekly Economics Wrap-Up

Namibian Developments Namibian Local Content Conference: The Namibia Chamber of Commerce and Industry, in collaboration with Antila Consultancy, is organizing the inaugural Namibian Local Content Conference from April 16 to 18. This conference aims to enhance local engagement in Namibia's burgeoning oil and gas sector by facilitating discussions among government officials, international oil companies, private sector stakeholders, and SMEs. Foreign Direct Investments in Oil and Gas Sector: The Bank of […]

April 4, 2024 3