Zimbabwe - Nomad Press

14 Sep

Zimbabwe to Cull 200 Elephants Amid Drought and Overpopulation Crisis

Reporter0 CommentsAfricaElephant, Zimbabwe

Zimbabwe will cull 200 elephants as it battles a severe drought and a rising elephant population, the country's wildlife authority announced on Friday. Environment Minister Mangaliso Ndlovu confirmed that Zimbabwe has more elephants than its ecosystems can support, leading to human-animal conflicts, particularly in Hwange National Park. With an elephant population of around 100,000, Zimbabwe has the second-largest population globally, after Botswana. Hwange alone houses 65,000 elephants, far exceeding its capacity. The country last conducted an elephant cull in 1988. The decision has drawn criticism, particularly from conservationists like Farai Maguwu, who urged the government to explore eco-friendly methods that…

Afreximbank signs US$80 million for Zimbabwe’s CBZ Bank

admin0 CommentsAfricaAfrexim Bank, Zimbabwe

African Export-Import Bank (Afreximbank) is providing a US$60 million line of credit and a US$20 million Afreximbank Trade Facilitation Programme (AFTRAF) facility to CBZ Bank Limited, Zimbabwe’s largest bank. In two deals signed at the recently concluded Afreximbank Annual Meetings, the line of credit facility will strengthen financial intermediaries’ capacity to support SMEs through financing product and capacity building, indirectly support export-oriented Zimbabwean businesses and enable them to generate much-needed foreign exchange, thus easing the pressure on foreign currency in the country. The AFTRAF facility will enable CBZ Bank to issue letters of credit confirmed by Afreximbank at a time…

Zimbabwe announces flexible tax payments to bolster currency transition

admin0 CommentsAfricaDollar, Zimbabwe

In a move aimed at supporting the transition to the new Zimbabwe Gold (ZIG) currency, Finance and Economic Development Minister Mthuli Ncube has announced more flexible guidelines for the payment of corporate income tax. In a statement, Ncube said companies will now be able to pay their 2024 second quarter corporate income tax obligations on a 50/50 basis using both the local ZIG currency and foreign currency. This represents a departure from the previous requirement for tax payments to align with a company’s currency of trade. “The more stable economic environment ushered in by the new Zimbabwe Gold currency has…