GOVERNMENT is implementing a raft of measures to ensure the country becomes energy self-sufficient to support growing demand from consumers and the expanding manufacturing and agriculture sector, President Mnangagwa has said. In his weekly column for this publication, President Mnangagwa said projects such as the proposed gas pipeline from Buzi in Mozambique to Mutare, which is envisaged to be jointly carried out by the two countries, could help the country achieve its goal. He said it was important for the country to diversify its energy sources. “Before long, Zimbabwe must have a robust gas industry to power its agriculture and meet its energy needs,” the President said. “In respect of gas and hydroelectricity, the sister Republic of Mozambique offers huge o
THE Reserve Bank of Zimbabwe (RBZ) has released US$100 million to clear the backlog of foreign currency allocations at the RBZ’s weekly auctions, Governor Dr John Mangudya said. The central bank introduced weekly foreign currency auctions in 2020 to enhance foreign currency access by key importers, but some of the successful bids could not be funded due to shortage of forex. Shortages in the market has seen a number of businesses, including leading supermarket chains pegging prices using black market exchange rates to entice customers to use hard currency for payments. In an interview with The Herald Finance and Business, Dr Mangudya said the central was working “flat out” to expunge the backlog to achieve stability in the forex exchange market. The RBZ indicate
