- Zimbabwe has today introduced a new 50 billion Zim-dollar note, which critics say its only enough to buy two loaves of bread.
According to reports, the Reserve Bank of Zimbabwe unveiled new 20 billion and 50 billion dollar notes in an advert published in the Herald newspaper.
The new bills are introduced less than a month after the country issued the 10 billion Zimdollar notes, in an effort to ease cash issuance and local trade transactions.
Zimbabwe, with a mega inflation of 231 million percent has come under serious strain of cash shortage, with most local shops said to be demanding foreign currency for goods of late.
The country has seen a downward economic streaming since the 2000 failed land reform policy implementation which saw many white farmers driven out of the land. With compounding political problems and unending brawls, even after the signing of a power sharing deal last September, Zimbabwe has seen increasing pressures on its economy.
Zimbabwe is also currently cited amongst the worst humanitarian crisis areas with the Cholera epidemic and lack of food ravaging through the poor populations because of collapse of services and almost everything.
afrol News - It is called "financial inclusion", and it is a key government policy in Rwanda. The goal is that, by 2020, 90 percent of the population is to have and actively use bank accounts. And in only four years, financial inclusion has doubled in Rwanda.
afrol News - The UN's humanitarian agencies now warn about a devastating famine in Sudan and especially in South Sudan, where the situation is said to be "imploding". Relief officials are appealing to donors to urgently fund life-saving activities in the two countries.
afrol News - Fear is spreading all over West Africa after the health ministry in Guinea confirmed the first Ebola outbreak in this part of Africa. According to official numbers, at least 86 are infected and 59 are dead as a result of this very contagious disease.
afrol News - It is already a crime being homosexual in Ethiopia, but parliament is now making sure the anti-gay laws will be applied in practical life. No pardoning of gays will be allowed in future, but activist fear this only is a signal of further repression being prepared.
afrol News / Africa Renewal - Ethiopia's ambitious plan to build a US$ 4.2 billion dam in the Benishangul-Gumuz region, 40 km from its border with Sudan, is expected to provide 6,000 megawatts of electricity, enough for its population plus some excess it can sell to neighbouring countries.
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