Zimbabwe and Zambia are ramping up efforts to revive the long-stalled $5 billion Batoka Gorge hydropower project by exploring a controversial plan to divert water from the Democratic Republic of Congo (DRC) to stabilize Zambezi River flows. The Zambezi River Authority (ZRA), which jointly manages the Kariba Dam for bothContinue Reading
Zimbabwe’s central bank has resumed the sale of gold coins, nearly a year after suspending the program, as part of efforts to stabilize the local currency and rebuild market confidence. The move comes amid ongoing pressure on the recently introduced ZiG currency, which has struggled due to economic mismanagement, accordingContinue Reading
Zimbabwe’s latest attempt at monetary reform—the ZiG currency—is facing a slow but steady decline, not through hyperinflation as in past cases, but through growing public indifference and policy shortcomings, according to Imara Asset Management, the country’s oldest independent brokerage firm. Launched in 2024, the ZiG represents Zimbabwe’s sixth currency reformContinue Reading
Zimbabwe’s deepening liquidity crisis is exacerbating the economy’s reliance on the US dollar, undermining the effectiveness of the gold-backed Zimbabwe Gold (ZiG) currency, introduced nearly a year ago. Launched on April 8, the ZiG was Zimbabwe’s sixth attempt since 2009 to establish a functional local currency, aiming to replace theContinue Reading
Mercury—a highly toxic chemical used to extract gold from ore—is leaving a devastating impact on people and the environment. It damages the lungs, skin, and eyes while spreading far beyond mining sites, contaminating air, water, and soil. Even worse, mercury accumulates in the food chain, posing a serious threat toContinue Reading
Water levels at Lake Kariba are slowly increasing due to the ongoing rainy season, raising cautious optimism for improved hydropower generation in the coming months. However, despite this gradual rise, current levels remain significantly lower than those recorded at the same time last year, according to the latest data fromContinue Reading
Zimbabwe Seeks $950 Million in New Effort to Revitalize Mining Projects Zimbabwe’s state-owned mining company, Kuvimba Mining House Ltd., is launching a new bid to raise $950 million a year after the government took full control of the firm. Under the leadership of CEO Trevor Barnard, Kuvimba is seeking fundingContinue Reading
Zimbabwe’s state-owned Kuvimba Mining House is seeking $950 million (Z$25.1 billion) to revitalize its lithium, platinum, and gold assets, marking a significant step in the country’s mining sector expansion. Under the leadership of CEO Trevor Barnard, the company is actively engaging with development banks, mining firms, and traders to secureContinue Reading
HARARE – Chinese investments in Zimbabwe have not improved the lives of ordinary citizens, the United States ambassador to Harare Pamela Marie Tremont said, highlighting rising poverty and worsening inequalities despite significant financial inflows. “The number of people living below the poverty line has doubled since 2011 despite the significantContinue Reading
HARARE – Zimbabwe earned US$209 million from lithium exports in the first nine months of 2023, nearly treble last year’s earnings, Mines Minister Zhemu Soda said on Wednesday, as Chinese-driven mining and processing projects take off. Africa’s top lithium producer, Zimbabwe hopes demand for the mineral, which is key forContinue Reading
