El Niño Drought Devastates Southern Africa

El Niño Drought Devastates Southern Africa

The United Nations’ food agency says months of drought in southern Africa – triggered by the El Niño weather phenomenon – have had a devastating impact on more than 27 million people and caused the region’s worst hunger crisis.  The World Food Program spokesperson, Tomson Phiri, said yesterday that this is the worst food crisis […]

Zimbabwe launches new gold-backed currency

Zimbabwe has introduced a new gold-backed currency called ZiG - the name stands for "Zimbabwe Gold"

Zimbabwe has introduced a new gold-backed currency called ZiG – the name stands for “Zimbabwe Gold”. It is the latest attempt to stabilise its economy. Unveiling the new notes, central bank governor John Mushayavanhu said the ZiG would be structured, and set at a market-determined exchange rate. The ZiG replaces a Zimbabwean dollar, the RTGS, […]