Browsing: zimbabwe

• Econet Wireless Zimbabwe, a Telecommunications company founded by Strive Masiyiwa, has introduced the country’s first eSIM service.
• eSIM is a digital SIM card embedded in smartphones, eliminating the need for a physical SIM card and allowing users to have multiple phone numbers on one device.
• Econet’s adoption of eSIM technology aligns with global trends and promises to bring numerous benefits to both consumers and the company itself.

Econet Wireless Zimbabwe, one of the country’s leading telecommunications companies, has taken a bold step by introducing the country’s first eSIM service. This innovative technology, known as eSIM (Embedded Subscriber Identification Module), is a digital SIM card that is embedded in smartphones, eliminating the need for a physical SIM card.

Econet Wireless Zimbabwe’s introduction of eSIM technology is not merely a technological advancement but a strategic move to provide its customers with a better, more flexible, and sustainable communication experience.

Econet’s eSIM technology

• Chido Mpemba is the youngest senior official in the African Union and advocates for young Africans to have a prominent role on the global stage.
• Deniece Laurent-Mantey, a Special Advisor at the US State Department, cites African innovation, culture, talent, and creativity in addressing global challenges.
• Areej Noor aims to bridge the gap between African and diaspora women filmmakers and the international market.

At the just-ending United Nations General Assembly, the Unstoppable Africa Summit showcased a group of exceptional young African women who are reshaping the narrative of Africa’s global influence.

These three remarkable individuals represent the forefront of a transformative era, one marked by innovation, resilience, and the indomitable spirit of a continent on the cusp of a new era.

Chido Mpemba, the youngest senior official ever appointed in the African Union and the cabinet’s youngest diplomat epitomizes Africa’s boundless youth potential. She advocates for amplifying the voices …

• RBZ Governor John Mangudya revealed that as of July 21st, the bank had conducted 11 issuances of GBDT.
• The Governor noted that the bank received 590 applications to purchase tokens equivalent to 325.02Kg of gold.
• In 2022, as the international economic environment worsened, Zimbabwe turned to gold coins were introduced to tame runaway inflation.

Zimbabwe’s struggles with hyperinflation has since been making headlines for decades. In 2009, inflation was so devastating that the country issued a new Zimbabwean dollar (ZWL), shedding twelve zeros from the earlier currency (ZWD).

By November 2022, the annual consumer price inflation for a compressed basket of goods was at 107 per cent in the country and in June, inflation rose to 175.8 per cent following devaluations of the local currency.

According to the Reserve Bank of Zimbabwe (RBZ) mid-term monetary policy statement, inflation increased to 86.5 per cent and 175.8 per cent in May and …

Africa is home to nearly all the valuable minerals that are essential to generating wealth, producing commodities, and advancing technology. Approximately 30 per cent of the world’s mineral reserves are in Africa, but most mineral-rich countries remain poor with little to celebrate. Some of the key minerals found in Africa include oil, diamonds, gold, silver, copper, cobalt, coal, iron ore, uranium, and platinum.…

• Commodity exchanges are organized marketplaces that facilitate the trading of agricultural commodities such as grains, livestock, and even precious metals.
• These exchanges provide a structured environment for buyers and sellers to come together and exchange commodities based on standardized contracts.
• In Southern Africa, these exchanges have taken on a transformative role in empowering farmers and bolstering the agricultural sector.

Southern Africa’s agriculture is marked by its rich diversity of crops and products. According to International Fund for Agriculture (IFAD), agriculture is the largest sector in the East and Southern Africa region, employing 65 per cent of Africa’s labour force and accounting for over 30 per cent of the region’s GDP.

But it’s not without its hurdles. Smallholder farmers, who constitute a substantial portion of the agricultural workforce, often grapple with unpredictable market prices. They also suffer from limited access to credit, and inadequate information on market trends.

Additionally, the …

Africa’s e-mobility is gaining momentum, largely driven by the daunting climate change crisis, fueling the need to decarbonize transport systems. African countries remain in pursuit of e-mobility solutions and advancement to low-carbon economies. Africa’s endowment with minerals key to the global green transition offers a significant advantage.…

• Africa has huge potential to power global supply chains for automobiles, handsets, food, renewable energy, and healthcare.
• The value of the African supply chain finance market rose by 40% between 2021 and 2022, reaching $41 billion.
• Africa has at least a fifth of the world’s reserves in a dozen metals critical for the energy transition.
• African countries need to capitalize on their comparative advantages and bolster technology adoption, improve logistics and leverage trade agreements.

Riding on its key comparative advantage of driving green transition globally, Africa can become a new hub for international supply chain, including for technology intensive industries. However, to realize this ambition, the ball lies principally in the court of policymakers in Africa and businesses to position the continent at an advantage.

These revelations are contained in the new United Nations Conference on Trade and Development (UNCTAD) Economic Development in Africa Report 2023 released on 16^th…

In May 2023, Zimbabwe released a gold-backed digital currency for peer-to-peer and business transactions. It acted as a store of value as the Zimbabwean dollar continued its steep depreciation. International gold prices controlled by the London Bullion Market Association will dictate the local pricing of Zimbabwe’s digital currency tokens.…

• Key staff in Eswatini and Zimbabwe have gained critical skills on how to harness Africa Continental Free Trade Area (AfCFTA).
• The training will be rolled out in Kenya, Seychelles, Rwanda, and DRC starting June, this year. It is critical for helping businesses identify and compare emerging opportunities in Africa.
• The programme equips staff with integrated and reliable trade intelligence on international market performance and opportunities as well as market access conditions.

Staff from over 80 companies and public agencies in Eswatini and Zimbabwe have gained critical skills on how to harness opportunities under Africa Continental Free Trade Area (AfCFTA). The training was undertaken by the African Trade Observatory, one of the five operational instruments of AfCFTA charged with driving intra regional trade of small businesses.

The online dashboard is critical for helping businesses identify and compare emerging opportunities across the continent. It provides integrated and reliable trade intelligence on international …

• The Reserve Bank of Zimbabwe last month began to loosen the tight monetary policy it had in place over the last 2 years to act against inflation.
• The hawkish stance of the central bank began to change when the RBZ announced that it would reduce interest rates by 50% to 150%.
• Zimbabwe’s central bank’s hawkish stance has resulted in a weakening economy and rising unemployment.

The Reserve Bank of Zimbabwe held the global record for highest interest rates, reaching a staggering 200%. The central bank has lowered this to 150% on the grounds that the inflationary conditions that required the significant increase have subsided. As is typical with hawkish monetary policy approaches, Zimbabwe’s central bank’s hawkish stance has resulted in a weakening economy and rising unemployment.

On 3 February 2023, the Zimbabwean monetary authorities issued the country’s first Monetary Policy Statement via the central bank. Twice a year, the Reserve …