Mnangagwa claims economic boom ZiG undervalued

President Mnangagwa touts economic recovery, while the central bank governor states the ZiG currency is significantly undervalued.

Mnangagwa Claims Economic Boom with $1.2bn Forex Reserve

President Mnangagwa stated Zimbabwe's economy is recovering with over $1.2 billion in forex reserves.

President Emmerson Mnangagwa declared Zimbabwe's economy is on a firm recovery path, anchored by a stable macroeconomic environment. Speaking at Maphisa Stadium during the 46th Independence Anniversary, Mnangagwa highlighted a forex reserve exceeding US$1.2 billion. He asserted that the economy is experiencing commendable growth. This optimistic view contrasts with ongoing economic challenges faced by many citizens, but the President emphasized a positive trajectory.

Central Bank Governor: ZiG Currency Undervalued by Half

RBZ Governor John Mushayavanhu says the ZiG should trade at ZiG15 to US$1.

Reserve Bank of Zimbabwe Governor John Mushayavanhu stated that the country's new currency, the ZiG, is undervalued by nearly half. He indicated that based on reserves and gold backing, it should be trading around ZiG15 to US$1. The ZiG, Zimbabwe's sixth currency attempt in 15 years, is backed by 2.5 tons of gold and US$100 million. Mushayavanhu acknowledged that market confidence remains a challenge for the currency's stability.

Chivayo Shifts $3.6m Parliament Donation to $5m for ZANU-PF

Businessman Wicknell Chivayo redirects his donation to support ZANU-PF structures.

Controversial businessman Wicknell Chivayo has redirected his previously pledged US$3.6 million donation intended for Parliament. The funds will now be channeled into a US$5 million package specifically for ZANU-PF structures. This move shifts the focus of the donation from a national legislative body to the ruling party's internal organization, sparking debate.

Zimbabwe Ranks Second for Highest Fuel Prices in Africa

Data shows Zimbabwe has the second-highest fuel prices across the African continent.

Zimbabwe has been identified as the country with the second-highest fuel prices in Africa, according to recent data. Malawi ranks highest on the continent. This places a significant burden on consumers and businesses, impacting transportation costs and the overall cost of goods and services. The high fuel prices contribute to inflationary pressures and economic strain for citizens.

ZANU PF Criticizes Chivayo Donation for Soiling President's Reputation

Patrick Chinamasa calls Chivayo's donation unethical and unprincipled.

ZANU PF treasurer Patrick Chinamasa has criticized businessman Wicknell Chivayo's US$3.6 million donation pledge to Parliament. Chinamasa described the move as misguided and an attempt to soil President Emmerson Mnangagwa's reputation. The donation, which initially proposed US$10,000 for each of the 360 legislators, drew significant controversy and internal party criticism.

Victoria Falls Bridge to Ban Trains and Heavy Trucks

Zimbabwe and Zambia agree to ban heavy vehicles from the Victoria Falls Bridge.

Zimbabwe and Zambia have agreed to prohibit trains and heavy goods vehicles from using the Victoria Falls Bridge. This decision aims to preserve the century-old structure. The announcement was made by Zambian President Hakainde Hichilema. The ban represents a significant policy shift for cross-border transport over the iconic bridge, impacting logistics and trade routes.

Human Rights Violations Affect Over 5,000 in March

Zimbabwe Peace Project reports significant human rights abuses during March, particularly during bill hearings.

The Zimbabwe Peace Project (ZPP) reported that at least 5,013 people were affected by human rights violations in March. A substantial number of these abuses occurred during public hearings for the Constitution Amendment Bill (No. 3). The ZPP's monthly monitoring report indicated a sharp surge in these violations, raising concerns about civil liberties and democratic processes.

The Jeere 2026-04-22  ·  stories

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