Ray Ndlovu
Reporter at Bloomberg Businessweek
Reporter @business. Opinions mine. Scuderia Ferrari F1 Fan. Author: In the Jaws of the Crocodile. Tips: [email protected]
Articles
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1 week ago |
bloomberg.com | Godfrey Marawanyika |Ray Ndlovu
Shoppers browse grocery stores in the central business district of Harare, Zimbabwe. (Bloomberg) -- The International Monetary Fund said Zimbabwe’s economic reforms have made “significant progress,” but the nation still has more work to do before earning an IMF staff-monitored program.
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1 week ago |
bloomberg.com | Antony Sguazzin |Ray Ndlovu
Street traders in the central business district of Harare. Photographer: Cynthia R Matonhodze/Bloomberg(Bloomberg) -- Zimbabwe has asked South Africa to help garner support for its debt to be revamped under the Group of 20’s Common Framework, a step that could restore its access to international capital markets for the first time in more than 25 years.
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1 week ago |
bloomberg.com | Ray Ndlovu
John Mushayavanhu, governor of Zimbabwe’s central bank(Bloomberg) -- Zimbabwe, wary of a rise in global tensions, resolved to leave its bank policy rate unchanged at 35%, according to John Mushayavanhu, the central bank governor.
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2 weeks ago |
bloomberg.com | Ray Ndlovu
Brighton Moyo with a newly acquired BMW bought from gold proceeds at a car wash in Filabusi, a town in southern Zimbabwe. (Bloomberg) -- In Filabusi, in south-eastern Zimbabwe the streets are packed with BMW X5s and Land Rover Defenders, modern houses paid for in cash are springing up and whisky is only sold by the bottle in the small town’s bars.
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2 weeks ago |
bloomberg.com | Ray Ndlovu
John Mushayavanhu holds up a specimen of the new gold backed currency ZiG banknote, in Harare. (Bloomberg) -- Zimbabwe’s gold-backed currency, the ZiG, is already suffering from the same lack of credibility that doomed its predecessors. Short for Zimbabwe Gold, the ZiG replaced the Zimbabwean dollar in April 2024 and is the nation’s sixth attempt since 2009 at creating a local unit that can supersede the greenback in domestic transactions.
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All That Glitters Is Gold. Gold's Rally Is Bringing Riches to Rural Zimbabwe. How a small town is splurging on houses, cars and whisky https://t.co/a34mA7jTRs
The surge in gold prices is driving a boom in small-scale production across Africa, bringing riches to small rural towns such as Filabusi in Zimbabwe https://t.co/HPH1b7v2St
ZiG is Zimbabwe's sixth attempt at establishing its own currency since 2008, when inflation crossed 500 billion percent. Can it succeed? https://t.co/2vxljqCJ85