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1 month ago | 
bloomberg.com | Godfrey Marawanyika |Desmond Kumbuka
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Sep 22, 2024 | 
bloomberg.com | Godfrey Marawanyika |Desmond Kumbuka
Zimbabwe’s central bank governor John Mushayavanhu said he will consider using the country’s reserves to protect the bullion-backed currency against severe market disruptions. Mushayavanhu also pledged to maintain a tight monetary policy stance, characterized by positive interest rates to ensure durable inflation and exchange rate stability.
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Sep 22, 2024 | 
bnnbloomberg.ca | Godfrey Marawanyika |Desmond Kumbuka
(Bloomberg) -- Zimbabwe’s central bank governor John Mushayavanhu said he will consider using the country’s reserves to protect the bullion-backed currency against severe market disruptions. Mushayavanhu also pledged to maintain a tight monetary policy stance, characterized by positive interest rates to ensure durable inflation and exchange rate stability.
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Aug 25, 2024 | 
energyconnects.com | Godfrey Marawanyika |Desmond Kumbuka
Zimbabwe’s state-owned power utility says it implemented increased power rationing due to a technical fault at a coal-fired power plant. The national grid was experiencing reduced electricity generation capacity due to a technical fault at Hwange Thermal Power Station’s Unit 8, Zesa Holdings Ltd. said in an emailed statement on Saturday.
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Aug 24, 2024 | 
bloomberg.com | Godfrey Marawanyika |Desmond Kumbuka
Zimbabwe’s state-owned power utility says it implemented increased power rationing due to a technical fault at a coal-fired power plant. The national grid was experiencing reduced electricity generation capacity due to a technical fault at Hwange Thermal Power Station’s Unit 8, Zesa Holdings Ltd. said in an emailed statement on Saturday.
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Aug 17, 2024 | 
bloomberg.com | Godfrey Marawanyika |Desmond Kumbuka
African countries have over $1 trillion in sovereign debt outstanding, with some member states struggling to meet payments, a United Nations agency official said. Claver Gatete, executive secretary for the United Nations Economic Commission for Africa, said the continent is facing several challenges in the areas of financing, security and climate change.
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Aug 17, 2024 | 
bnnbloomberg.ca | Godfrey Marawanyika |Desmond Kumbuka
(Bloomberg) -- African countries have over $1 trillion in sovereign debt outstanding, with some member states struggling to meet payments, a United Nations agency official said. Claver Gatete, executive secretary for the United Nations Economic Commission for Africa, said the continent is facing several challenges in the areas of financing, security and climate change.
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May 18, 2024 | 
bnnbloomberg.ca | Godfrey Marawanyika |Desmond Kumbuka
(Bloomberg) -- Zimbabwe’s FBC Holdings Ltd. has completed the acquisition of Standard Chartered Plc’s business in the southern African country. FBCH is now wrapping up the necessary paperwork and will retain all of Standard Chartered’s employees in Zimbabwe, group chief executive officer, Trynos Kufazvinei said, according to a statement. “We are creating a financial powerhouse that caters for the evolving needs of Zimbabwe’s dynamic economy,” Kufazvinei said.
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May 18, 2024 | 
bloomberg.com | Godfrey Marawanyika |Desmond Kumbuka
Zimbabwe’s FBC Holdings Ltd. has completed the acquisition of Standard Chartered Plc’s business in the southern African country. FBCH is now wrapping up the necessary paperwork and will retain all of Standard Chartered’s employees in Zimbabwe, group chief executive officer, Trynos Kufazvinei said, according to a statement.
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Apr 16, 2024 | 
bnnbloomberg.ca | Godfrey Marawanyika |Desmond Kumbuka
(Bloomberg) -- Zimbabwe’s new central bank governor vowed to restore confidence in the institution that’s repeatedly failed to stabilize prices and the nation’s currency. The Reserve Bank of Zimbabwe is rolling out a ‘Back to Basics’ plan that will initially focus on consolidating the introduction of the nation’s new national currency — the ZiG, John Mushayavanhu said in a circular to staff.
