Zimbabwe's ZiG shift has quashed a more than 330 per cent Zimbabwe Stock Exchange (ZSE) surge this year, leaving investors grappling with the consequences, Bloomberg reported.
ZiG, backed by gold, replaced the Zimbabwean dollar, which had already (...)
Zimbabwe's new currency, ZiG, debuted trading on Monday amid challenges with the nation's sixth attempt to introduce a revamped unit, Bloomberg reported on Monday.
Reserve Bank Governor John Mushayavanhu initiated the exchange rate at 13.56 ZiG per (...)
The International Monetary Fund (IMF) after the completion of staff mission to Zimbabwe, has urged the country to expedite currency reforms, saying the government should shift to a market-driven exchange rate and eliminate existing distortions, (...)
Currency collapse in Zimbabwe caused a surge in inflation, increasing the prices of goods and services and putting more pressure on the central bank to take action, Bloomberg reported on Monday.
According to the Zimbabwe National Statistics Agency, (...)
Zimbabwe is about to unveil new measures to support its currency amid the decline in both the official and the parallel market, according to the state-controlled Sunday Mail Newspaper.
The planned actions might include changing the weekly foreign (...)
Leading fertiliser producer Uralchem Group has announced the successful loading and departure of a humanitarian shipment carrying over 23,000 tonnes of fertilisers destined for Zimbabwe. The vessel, loaded at ports in Riga, Latvia, and Ghent, (...)
Zimbabwe is facing a cholera crisis that has killed many people, over 150, and spread again over the last month to different areas, especially Harare, as health authorities have reported more than 8,000 suspected cases since February.
Since the (...)
Egypt's President Abdel Fattah Al-Sisi and President Emmerson Mnangagwa of Zimbabwe met on Tuesday and expressed their desire to strengthen their bilateral relations, especially in the fields of development cooperation.
They agreed on the importance (...)
The African Export–Import Bank (Afreximbank) has signed on Saturday a term sheet for a $141 million seven-year intra-Africa investment finance facility with one of the key construction companies in Zimbabwe, Exodus & Company.
The facility will for (...)
The African Export–Import Bank (Afreximbank) has signed on Friday a term sheet for a $40 million three-year trade finance facility with a key commercial bank in Zimbabwe, the Central Africa Building Society (CABS). The deal aims to support the (...)
The 26th edition of the Arab-African Investment and International Cooperation Conference kicked off on 30 October in Sharm El-Sheikh, under the auspices of the Egyptian Cabinet and the Arab League. The theme of the event is "Youth as the Axis of (...)
Blue Carbon, a UAE-based environmental asset developer has signed a memorandum of understanding (MoU) with Zimbabwe to generate carbon credits from about a fifth of the African country's 150,000 square-mile landmass.
The MoU may bring $1.5 billion (...)
The Central Bank of Egypt (CBE) is hosting a training course on "Application of Big Data Analysis and Artificial Intelligence to Central Banking" in collaboration with the COMESA Monetary Institute (CMI). The course, which runs from 27 August to 31 (...)
Johannesburg — The BRICS Media Forum has called for strengthening voices of the global south, off Saturday in its sixth edition which started on Saturday.
Daily News Egypt attended the forum along with 200 deputies from around 100 media outlets, (...)
Egypt delivered its first shipment of pharmaceuticals manufactured by local firms to Zimbabwe, the Egyptian Drug Authority (EDA) announced on Tuesday.
This is part of the framework of the memorandum of understanding (MoU) signed between the EDA and (...)
Russia would remain a reliable food supplier for African countries despite illegal Western sanctions, according to President Vladimir Putin on Friday at Russia-Africa Summit in St. Petersburg.
He further added that his country recognises the (...)
Chairperson and Managing Director of the Administrative Capital for Urban Development (ACUD) Khaled Abbas has signed a memorandum of understanding (MoU) with Zimbabwe's New City Development Corporation in Mount Hampden.
The MoU aims to enhance (...)
Egypt's Minister of Water Resources and Irrigation, Hani Sewilam, received on Tuesday his Zimbabwean and South Sudanese counterparts at the headquarters of the Ministry of Water Resources and Irrigation in the New Administrative Capital.
The (...)
The Central Agency for Public Mobilization and Statistics (CAPMAS) has revealed that the value of trade exchange between Egypt and the COMESA countries increased to $5.3bn in 2022, compared to $4.4b in 2021, an increase of 20.4%.
The agency (...)
President of African Federation of Construction Contractors Associations (AFCCA) Hassan Abdelaziz has stated that Africa needs 10 million low-cost housing units annually to meet the increasing population growth.
Abdelaziz said that foreign companies (...)
President Emmerson Mnangagwa of Zimbabwe is heading to Egypt to join over 3,000 delegates at the 58th Annual Meetings of the African Development Bank (AfDB) 2023.
The annual meetings will be held in Egypt's Sharm El Sheikh city and will welcome (...)
The African Development Bank Group (AfDB) had developed the financial tools required to pay $3 billion in compensation for white farmers who lost land and other assets in Zimbabwe, according to its statement on Monday.
The new proposal would (...)
The Egyptian Drug Authority (EDA) and Zimbabwe's Medicines Control Authority (MCAZ) have signed a MoU in which MCAZ can use the EDA's procedures in the field of pharmaceuticals registration as a reference, EDA said on Saturday.
The EDA and MCAZ will (...)
Minister of Finance Mohamed Maait has said that the government has initiated a stimulus package to increase production, in a manner that integrates with other efforts made by the state in order to deal flexibly with global economic challenges, (...)
A few days ago, President Abdel Fattah Al-Sisi participated in the first Arab-Chinese Summit that was held in the Saudi capital of Riyadh, which certainly inaugurated a new phase in world history based on multipolarity and the effective Arab and (...)