Zimbabwe adopted the Zimbabwean dollar, and banned the use of the US dollar and the rand, at the end of June. It caused widespread confusion and cash shortages in the country. We compared prices for everyday household goods in Zimbabwe to what they cost in South Africa. At the end[…]
The investigation into the collapse of the rand has started, with the Competition Commission targeting six major financial institutions implicated in currency manipulation. The commission confirmed that this probe would reveal the forces behind the depreciation of the currency in the last few years. Spokesperson for the Competition Commission Itumeleng[…]
Those behind the theft of millions in foreign currency from the State Security Agency in Pretoria knew exactly what they were doing, the Hawks said on Wednesday. “Whether it’s an inside job or not is a matter that we are also looking into,” spokesperson Brigadier Hangwani Mulaudzi said. It was[…]
The best way in which South Africa can emerge from its current economic woes is if the South African Reserve Bank remains independent, particularly from state institutions. This is according to Dr Adrian Saville, chief strategist at Citadel, who says that the successes or failures of the Reserve Bank will[…]
Zimbabwe plans to adopt the Chinese yuan as legal tender in return for debt cancellation worth about $40m – a move one economist predicted “has no future at all”. China has become the largest investor in Zimbabwe, which has been shunned by the West over its human rights record and[…]
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