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Monday 1 July 2019

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FILE - A woman holds a 100 trillion-dollar note in Harare, the highest denomination printed by the Reserve Bank of Zimbabwe.

HARARE (Reuters) - Zimbabwe’s central bank governor John Mangudya said on Monday the southern African nation will initially print 400 million Zimbabwe dollars, which will be gradually introduced in circulation to fill gap left by end of dollarisation.

He also told lawmakers in parliament that $525 million has been traded on Zimbabwe’s official interbank market since its launch in February.

Zimbabwe made its interim currency, the RTGS dollar, the country’s sole legal tender last Monday, ending a decade of dollarisation and taking a another step towards relaunching the Zimbabwean dollar.

At the same time, Mangudya said individuals and companies hold $1.3 billion in foreign currency accounts after the Finance Minister announced that individuals will be allowed to withdraw cash U.S. dollars from those accounts.

Finance Minister Mthuli Ncube also told lawmakers that individuals will be allowed to withdraw cash U.S. dollars from foreign currency accounts but companies will be limited, Zimbabwe’s

(Reporting by MacDonald Dzirutwe Writing by Nqobile Dludla; Editing by Toby Chopra)

DR Congo Wallops Zimbabwe

Skipper Knowledge Musona was substituted following his poor performance in the game.

The Democratic Republic of Congo walloped Zimbabwe Warriors 4-0 in the Africa Cup of Nations on Sunday in a match goalkeeper Elvis Chipezeze displayed one of the worst-ever goal-minding skills by a local keeper in living memory.

DR Congo opened the floodgates in the 4th minute after Chipezeze, who plays in the premier soccer league in South Africa, spilled a harmless ball that was headed in the net by Jonathan Bolingi.

In-form DR Congo striker Cedrick Bakambu scored the second goal in the 34th minute following a clumsy touch by Chipezeze. As if that was not enough, the shaky goalkeeper brought down a striker in the box and Bakambu drilled the ball in the net in the 65th minute.

Britt Asombalonga made it 4-0 in the 78th minute, leaving the Zimbabweans with no chance to reach the next stage of the tournament. The Warriors, anchoring Group A of the 2019 Africa Cup of Nations with a single point out of three games, are heading home.

Sports commentator Muziwethu Hadebe said, “This is very disappointing taking into account that Zimbabwe only needed to win the match to progress to the next stage of the game as third best team in the log.

“… It’s now back to the drawing board for ZIFA. The result is an indication of a bigger problem than this game.”

ZIFA officials and coach Sunday Chidzambwa were not available for comment.

Egypt to top Group A with nine points after winning all three games. They beat Uganda, in second place on the log, in a match played Sunday. DR Congo is placed third after losing to Egypt and Uganda in the previous matches.

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