Zambia's money is losing value fast. The country is facing a terrible drought. This is making it hard for the economy to grow.
Zambia fixed its debt problems last year, and people thought this would help. But the currency is still falling. It is now worth less than before the debt deal.
Zambia relies on hydroelectric power. The drought means less electricity. Mining companies are producing less copper. Copper brings in money from other countries.
The drought is the worst in 100 years. It has hurt crops and forced power cuts.
Zambia's currency fell significantly in 2020 when the country couldn't pay its debts. The currency rose last year when the debt was fixed, but the gains were short-lived.
Some companies have sold dollars...
The White House wants to limit the sale of AI chips to other countries. These chips are used in data centers. President Biden hopes this will keep advanced technology away from China and Russia.
The new rules would create three groups of countries. Close US allies could still easily buy American AI chips. But countries the US sees as enemies would not be allowed to buy them at all. Most other nations would face limits on how many chips they can import.
However, these countries could get higher limits if they agree to follow certain US standards, including rules about security and human rights. The goal is to have trusted partners around the world who develop AI technology responsibly.
President Biden's team may announce the new...
A man from Harare, Timothy Chiminya, says he is a king. He thinks he can choose traditional chiefs in Zimbabwe. The police arrested him in December 2023.
Mr. Chiminya went to court on Wednesday. The judge said he could not leave jail yet. He has to stay there until January 22. The judge thinks Mr. Chiminya could cause problems for the country.
Doctors checked Mr. Chiminya's mind. They say he is okay to have a trial.
The police say Mr. Chiminya did something wrong. They say he acted like he had more power than the president.
Mr. Chiminya believes a spirit gave him special powers. He thinks the spirit lets him pick and remove chiefs, but his actions have upset some people.
The government complained about Mr. Chiminya. That is why the...
Talent Chetsanga, a 42-year-old travel agent, was in court on Thursday. She is accused of cheating people out of money. The police say she tricked clients who wanted to travel outside Zimbabwe.
One of the people she allegedly cheated is a lawyer named Shelliton Mahuni. He paid her $7,000 to arrange a trip to Hong Kong for his family. But when they got there in December, their hotel was not paid for. Mahuni had to pay almost $4,000 more for a place to stay. Chetsanga had promised to pay him back but did not.
Another person, Wilfred Chibage, also says Chetsanga cheated him. He paid her $6,475 for a family trip to Cape Town. This was supposed to include flights, a hotel, transportation, and fun activities.
On the day of the trip...
The police caught a man from Harare. His name is Witmore Nyamadzawo. He is 19 years old.
The police say Witmore and two other men hurt someone very badly in 2022. It happened at some shops in a place called Budiriro 5 Current.
Witmore and the other men used a metal chain to hit the person on the head many times. They also hit him on the shoulder and legs. The person was very badly injured.
No one got medical help for the injured man. He died four hours later. He was still lying where he had been attacked.
The police opened a murder case right away. But Witmore ran away and hid for almost three years. The other two men are still hiding from the police.
The police kept looking for Witmore. They finally found him and arrested him this...
BRICS keeps growing as Indonesia joins and eight others become partners. Experts say this shows the group is getting stronger and more popular worldwide.
BRICS started with Brazil, Russia, India, China, and South Africa. Now, it has almost half the world's population. It also makes up more than a third of the world's money and more than half of its growth.
Indonesia is a big country in Southeast Asia. It has the most people and money in that part of the world. It is the first country from there to join BRICS since the group said it would add new members in 2023. Malaysia and Thailand also became partners with BRICS.
Last year, BRICS admitted Egypt, Ethiopia, and Iran. More than 30 countries have asked to join.
Indonesia says joining...
The Zimbabwe Stock Exchange (ZSE) has made some changes. It wants to help people understand how different parts of the market are doing.
The ZSE created new indexes on January 1, 2025. An index measures a group of stocks. The Top 10 Index looks at the biggest companies on the ZSE. It shows how the whole market is performing.
There are also indexes for the top 15 and top 25 companies. Medium and small companies have their indexes, too. This lets investors see how companies of different sizes are doing.
The indexes include some companies listed on the Victoria Falls Stock Exchange (VFEX). VFEX uses US dollars instead of Zimbabwean money.
ZSE's CEO, Justin Bgoni, says the indexes will change every few months. The top indexes include...
Caledonia Mining Corporation wants to grow its gold business in Zimbabwe. To help fund this expansion, the company has struck a deal with Cantor Fitzgerald & Co. Caledonia can sell up to $50 million worth of its shares through Cantor.
The money will be used to develop the Bilboes gold project. Caledonia bought Bilboes last year for over $53 million. It's located in Bubi, part of Matabeleland North Province.
Studies show that Bilboes could become Zimbabwe's largest gold mine. It might produce as much as 150,000 ounces of gold each year. That would be a big boost for Caledonia.
Blanket Mine is currently Caledonia's main asset in Zimbabwe. Gold production there increased in the first nine months of last year compared to the same period...
Darryl Carlsson, a 42-year-old security guard, has been charged with attempted murder. He went to court on Thursday.
The police say Carlsson shot at a man who works for CINK Security Company. The man was walking by Carlsson's house in Eastlea, Harare.
Carlsson thought the man had stolen something. He had a gun called a .22 Brno Long Rifle. He pointed it at the man's legs and fired, but he missed.
The man got scared and ran away. He told the police what happened. They came and arrested Carlsson. They also took his gun.
The police found out that Carlsson's gun was registered in his name. He had a legal right to own it.
The case is being handled by a judge named Mrs. Tildah Mazhande. The police are still looking into what happened.
Trending content
-
Q
-
-
-
