Zimbabwe turns to gold in efforts to permanently ditch US dollar
Buckle up, because Zimbabwe’s going for a wild ride down Gold Lane, ditching the US dollar like it’s out of fashion. Under President Emmerson Mnangagwa’s regime, this southern African gem is shaking up its monetary system yet again. This time, they’re pulling a bold move by introducing a new gold-backed currency. The Birth of the […]
Zimbabwe says de-dollarization is going to be BRICS’ undoing
As 2024 marches on, the BRICS alliance, with its grand plan to kick the US Dollar to the curb, is stirring up quite the storm among financial experts. Some are outright predicting a fiasco. Imagine a finance minister stepping up and saying this whole ditch-the-dollar idea is a box of dynamite for both the BRICS […]
Zimbabwe’s AI Challenge: Harnessing a $7 Trillion Opportunity
In an era where artificial intelligence (AI) is reshaping global economies, Zimbabwe stands at a crossroads. With AI set to contribute an estimated US$7 trillion to the world economy in the next decade, the nation’s engagement with this transformative technology is not just an option but a necessity. Economic leap through AI The impact of […]
Zimbabwe’s Industrial Future Shaped by AI Integration
In a recent surge of interest in technological advancements, Zimbabwe’s industry chiefs have been vocal about the necessity of artificial intelligence (AI) in driving the nation’s economic growth. Kurai Matsheza, the president of the Confederation of Zimbabwe Industries, emphasized the critical role of AI in enhancing data analytics and big data, key drivers for informed […]
Zimbabwe tests digital currency backed by gold
In an audacious move to stabilize its faltering economy, Zimbabwe has commenced trials for a gold-backed digital currency. This bold step comes as the African nation continues to grapple with staggering inflation rates, forcing its citizenry into an awkward dance with the devaluating local currency. A digital lifeline amid economic turbulence The Reserve Bank of […]
Zimbabwe launches gold-backed digital currency sale
Zimbabwe’s central bank has announced pricing details for its upcoming gold-backed digital tokens. Set to launch on May 8, the tokens will be available at a minimum price of $10 for individuals and $5,000 for corporations and other entities. According to the Reserve Bank of Zimbabwe, the gold-backed digital currency tokens will be sold in […]
Explaining Zimbabwe’s de-dollarization strategy
Zimbabwe’s de-dollarization strategy has taken a new turn, as the Reserve Bank of Zimbabwe (RBZ) announced the launch of gold-backed digital tokens on May 8. This move aims to provide a stable means of payment and a store of value for Zimbabweans. The implementation will take place in two phases, with the first focused on […]
Zimbabwe debunks report it would adopt Bitcoin as legal tender
TL;DR Breakdown Zimbabwe says it is not adopting Bitcoin as legal tender. Govt says it is open to CBDC and not crypto. Zimbabwe has refuted a report that the government are in line to follow El Salvador to adopt Bitcoin as a legal tender. The government debunked the news in reaction to rumors that they […]
Bitcoin demand skyrockets as digital payment suspended in Africa
The Zimbabwe government, on Friday, 26 June, announced that with immediate effect, they are suspending all mobile money payments and operations of EcoCash, popular mobile money providers in the country. These directives are coming at a time when Bitcoin demand has surged not only in Zimbabwe but across Africa. The suspension hit the country’s stock […]
Argentina crypto trading crackdown gains momentum to protect local fiat
In a bid to protect the local fiat currency crypto trading crackdown in Argentina appears to be gaining momentum. As per the announcement by the country’s Financial Unit (FIU), the government is tightening its control on crypto trading activities within its borders. This is a decision which appears to have been triggered by the runaway […]
Zimbabwe crypto regulation sandbox: Fixing the country’s economy
Southern Africa Zimbabwe is beginning to take measures aimed at regulating activities in the country’s crypto space. Zimbabwe crypto regulation was revealed by the country’s apex bank RBZ (Reserve Bank of Zimbabwe), stating that it will create a regulatory framework to check operations of firms that deal with cryptocurrency. This was revealed by Mr. Josephat […]
