Central bank foreign reserves surge to 1.6 billion dollars

The Reserve Bank of Zimbabwe announced that foreign currency reserves backing the ZiG currency reached 1.6 billion dollars.

Central bank foreign reserves surge to 1.6 billion dollars

The Reserve Bank of Zimbabwe announced that foreign currency reserves backing the ZiG currency reached 1.6 billion dollars.

The Reserve Bank of Zimbabwe announced that foreign currency reserves backing the ZiG currency increased to 1.6 billion dollars by the end of the reporting period. This financial accumulation represents a significant expansion of the central bank's liquid assets to support the domestic currency. The sudden increase in reserves follows a period of intense currency volatility and strict monetary interventions designed to stabilize the local market. Critics and financial analysts remain cautious about the sustainability of this reserve growth without structural economic reforms. The central bank now holds a larger buffer to defend the national currency against external shocks.

Bogus agent faces human trafficking charges over Russia recruitment

A Hwange man appeared in court for allegedly trafficking Zimbabweans to fight in the Russia-Ukraine war.

A Harare magistrate remanded Oscar Sifelani Mtshiya in custody after he appeared in court facing human trafficking charges. Mtshiya allegedly lured five Zimbabwean nationals with false promises of lucrative firefighting jobs in Russia. The state alleges that the recruits were instead forced into military service on the frontlines of the Russia-Ukraine war. This forced deployment resulted in the death of one recruit, while four other stranded citizens currently await repatriation. The case highlights the growing vulnerability of job seekers to deceptive international recruitment syndicates operating within the country.

Government relaxes customs rules for citizens returning from South Africa

The Ministry of Finance approved flexible customs measures to ease the repatriation of personal belongings.

The Ministry of Finance, Economic Development and Investment Promotion approved a flexible customs administration mechanism for returning citizens. The temporary policy allows Zimbabweans returning from South Africa to bring their personal belongings and selected assets back home with fewer administrative hurdles. This regulatory adjustment responds directly to the logistical pressures faced by thousands of repatriated nationals. However, some border officials warn that the relaxed rules could be exploited for commercial smuggling if not monitored closely. The new measures aim to reduce border congestion and ease the transition for returning families.

Bikita Minerals expands operations with massive lithium investment

Bikita Minerals launched a two hundred million dollar expansion project during a government media tour.

Bikita Minerals expanded its mining operations following a two hundred million dollar capital investment. Information, Publicity and Broadcasting Services Minister Zhemu Soda attended the official media tour of the expanded facilities on Thursday. The massive investment aims to increase processing capacity and boost lithium export volumes from the site. Environmental groups have previously raised concerns regarding the ecological footprint of rapid mining expansions in the region. The project positions the mine as a major contributor to the national strategy of mineral-led economic growth.

Zimbabwe launches cross-border fibre optic corridor

A landmark regional fibre project went live to connect Zimbabwe to regional digital networks.

Zimbabwe launched a landmark cross-border fibre optic project to connect the nation to a massive regional digital network. The new infrastructure went live on Thursday, marking a significant shift in the national telecommunications landscape. The project aims to lower internet costs and improve broadband reliability across the country. Some local internet service providers express concern that the state-backed corridor might marginalize smaller private operators. The high-speed link establishes Zimbabwe as a key transit hub for regional digital traffic.

TSL shareholders approve voluntary delisting from ZSE

Shareholders voted unanimously to delist TSL from the Zimbabwe Stock Exchange and migrate to VFEX.

TSL shareholders overwhelmingly approved a voluntary delisting from the Zimbabwe Stock Exchange during an extraordinary general meeting on June 19, 2026. The unanimous vote clears the way for the company to migrate its listing to the Victoria Falls Stock Exchange. The board initiated the move to leverage the foreign currency benefits and tax incentives offered by the dollarized exchange. Some market analysts warn that the departure of prominent firms weakens the liquidity of the main local bourse. The migration reflects a broader corporate trend of seeking stable trading environments in the country.

President Mnangagwa appoints new military commanders

President Emmerson Mnangagwa announced strategic security appointments to reinforce the defense forces.

President Emmerson Mnangagwa announced strategic security appointments to reinforce the upper echelons of the military command. The new appointments take effect immediately, introducing structural adjustments within the national defense forces. The strategic changes aim to optimize operational efficiency across key security institutions. The administration continues to realign its defense hierarchy to address emerging regional security challenges. The appointments place trusted commanders into critical decision-making roles within the military command.

Government suspends Matimbe bus fleet after fatal crash

Transport Minister Felix Mhona grounded the entire Blessing Matimbe bus fleet following a probe.

Transport and Infrastructural Development Minister Felix Mhona suspended the operating license of Blessing Matimbe's entire bus fleet on Thursday. The regulatory action follows a June 1 accident at the Willowvale and Nyandoro Road intersection that killed three people. A government investigation into the crash exposed widespread disregard for road safety laws and vehicle maintenance standards. The transport operator expressed regret and pledged to cooperate fully with safety investigators to resolve the compliance issues. The suspension highlights a renewed government crackdown on public transport operators violating safety regulations.

Mukuru cashier jailed for stealing thirty-four thousand dollars

A twenty-seven-year-old cashier received a nine-year prison sentence for misappropriating company funds.

A Zimbabwean court sentenced twenty-seven-year-old Masciline Chihambakwe to nine years in prison for theft. The former Mukuru Money Transfers cashier misappropriated more than thirty-four thousand dollars in company funds. Chihambakwe used a portion of the stolen money to establish a retail business in Gokwe before her arrest. Defense counsel argued for a lighter sentence, citing the employee's cooperation during the initial police investigation. The ruling emphasizes the severe legal consequences facing financial sector employees who abuse internal transaction systems.

Bus crash in South Africa leaves sixteen dead

A passenger bus traveling from Cape Town overturned, killing sixteen and injuring twenty.

A passenger bus transporting seventy-eight passengers from Cape Town to Idutywa overturned in the Western Cape province on Thursday. The accident killed sixteen people and injured twenty others, prompting an immediate emergency response. Authorities launched an investigation into the cause of the crash, focusing on road conditions and driver fatigue. Transport union representatives renewed calls for stricter driving hour limits on long-distance commercial routes. The tragedy underscores the persistent safety hazards associated with long-distance road travel in South Africa.

The Jeere 2026-07-06  ·  stories

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