Business
ZB Financial Group Says Zimbabwe’s Mono-Currency Targets Needs Gradual Transition
ZB Financial Holdings (ZBFH) has called for a phased and carefully managed approach toward Zimbabwe’s goal of adopting a mono-currency system by 2030, warning that rushing the process could undermine economic stability.
The group’s strategy executive, Trymore Muhlanga, made the remarks this week as the financial institution prepares to roll out its 2026–2030 mid-term strategy, which aligns with government’s broader vision of consolidating the Zimbabwe Gold (ZiG) as the country’s sole legal tender by the end of the decade.
Muhlanga said the government’s currency transition must be supported by consistent policy measures and gradual market adaptation.
“As a group, we are fully supportive of government initiatives,” he said. “What the central bank will likely do between now and 2030 is to steadily increase the use of our domestic currency. At the moment, around 90% of transactions are conducted in United States dollars or other foreign currencies, so it’s important to rebalance that gradually.”
He explained that the process should involve a step-by-step reversal of the current foreign currency dominance, moving from a 90/10 ratio in favour of the US dollar to 70/30, then 50/50, before eventually transitioning to full use of the ZiG.
“If we don’t manage that transition properly, we may not achieve the level of success that the economy desires,” he cautioned.
Muhlanga’s remarks come as the authorities press ahead with the controversial plan to scrap the multi-currency system by 2030, a move that has drawn mixed reactions from the business sector and the general public amid concerns over currency confidence and inflation stability.
Meanwhile, ZB Bank’s SSCI certification — officially recognised during the Global Sustainable Finance Conference held on September 25, 2025, in Germany — was hailed as a major milestone for the group.
Reserve Bank of Zimbabwe (RBZ) deputy governor Jesimen Chipika commended the institution for integrating sustainability into its corporate operations.
“Allow me to extend my heartfelt congratulations to ZB Bank on attaining this comprehensive sustainability certification,” Chipika said. “This achievement is a testament to the institution’s resolve and commitment to embed holistic sustainability principles across all aspects of its operations.”
The certification aligns with ZB Bank’s long-term goal of embedding environmental, social, and governance (ESG) standards into its strategy, reinforcing its position as one of Zimbabwe’s leading financial institutions championing sustainable growth.
Business
Zimbabwe Targets Mercury Emissions in New Power Plant Initiative
By Everisto Zhuwao
The Environmental Management Agency (EMA) on Thursday launched a major initiative to combat mercury pollution during an inception workshop held at the Holiday Inn Harare. The project specifically targets the mitigation of mercury emissions and releases from coal combustion power plants across Zimbabwe.
The workshop brought together a diverse group of experts and government officials to coordinate a national response to toxic emissions. Mr. A. Matiza, the Deputy Director for Environment in the Ministry of Environment, Climate and Wildlife, officially opened the session. In his remarks, he stressed that collaborative efforts are essential to safeguard both the environment and public health from the dangers of mercury pollution.
Mercury is a significant concern in energy production because it is released into the atmosphere when coal is burned to generate electricity.
The project falls under the Minamata Convention on Mercury, an international treaty designed to protect people and the environment from the harmful effects of mercury.
By focusing on power plants, the government aims to introduce cleaner technologies that reduce these hazardous emissions while maintaining efficient energy production.
Several key organisations participated in the roadmap development, including the Zimbabwe Power Company, Hwange Colliery Company, and the Ministry of Health and Child Care.
Legal and regulatory bodies such as the Zimbabwe Environmental Law Organization and the Procurement Regulatory Authority of Zimbabwe were also present to ensure the project aligns with national laws and international standards.
The initiative seeks to reform existing environmental policies and build technical capacity within local communities and regulatory institutions. By fostering partnerships between government and industry, the project aims to ensure that Zimbabwe’s energy future is both sustainable and responsible.
This collective commitment lays the foundation for a cleaner environment and a healthier future for all citizens.
Business
Agriculture Anchors Zimbabwe’s Economic Future
Everisto Zhuwao
Agriculture remains the cornerstone of Zimbabwe’s journey toward national prosperity. The Deputy Minister of Lands, Agriculture, Fisheries, Water and Rural Development, Vangelis Peter Haritatos, reaffirmed this vision during a recent field day hosted by Charter Seeds.
The event served as a platform for the government to outline its ambitious roadmap for the sector.
The Deputy Minister highlighted the government’s commitment to the Agriculture and Food Systems Rural Transformation Strategy 2, an initiative aimed at growing the agricultural sector into a US$15.8 billion industry by 2030.
According to Hon. Haritatos, the ultimate goal is to transition the nation from basic food security to true food sovereignty. This shift will ensure that Zimbabwe maintains full control over its food systems, from seed production to the final market sale.
To achieve these targets, the government is actively investing in critical infrastructure such as irrigation systems and modern mechanisation. These efforts are being complemented by the establishment of village business units designed to empower local farmers.

Hon. Haritatos urged producers to view themselves as businesspeople and custodians of the land. He emphasized that adopting innovative, market-driven practices is no longer optional but a necessity for growth.
Sustainability and data-driven decision-making were central themes of the address. The Deputy Minister reminded the audience that the quality of today’s seeds determines the success of tomorrow’s harvest.
He encouraged farmers to become lifelong students of their craft and to share their knowledge as ambassadors of the agricultural sector.
By focusing on quality seed genetics and efficient resource management, the government believes that agriculture will serve as the primary engine for Zimbabwe’s economic transformation.
Business
ZERA Hikes Fuel Prices: Now US$1.77 Per Litre
Fuel prices in Zimbabwe have increased following the Zimbabwe Energy Regulatory Authority (ZERA) ‘s announcement of new petroleum prices, which took effect on March 4, 2026.
In a notice released by the energy regulator, diesel is now priced at US$1.77 per litre, while petrol blend (E5) is selling at US$1.71 per litre.
In local currency, diesel is pegged at ZWG 45.55 per litre and petrol blend at ZWG 44.01 per litre.

The regulator said the new prices will remain in effect for the next two weeks, while authorities continue to monitor developments in the global fuel market.
ZERA indicated that the latest fuel prices were influenced by changes in international petroleum markets, which have pushed prices upward.
However, the Government reduced some of its charges to cushion consumers from sharper increases.
“The above prices are as a result of the government reducing some of its charges to cushion the consumers from astronomical increases that have happened from changes in the international market,” the regulator said in the statement.
According to ZERA, without the Government’s intervention, the price of diesel would have reached US$1.90 per litre, while petrol blend would have been US$1.81 per litre.
The regulator added that it will continue to closely monitor market developments to ensure there is an adequate fuel supply in the country.
Stakeholders were also advised that official petroleum price updates can be verified through ZERA’s official communication platforms, including its website and social media pages.
Zimbabwe reviews fuel prices regularly, largely in line with international oil price movements and exchange rate developments.
The adjustments often have a ripple effect across the economy, influencing transport costs, food prices, and other goods and services.
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