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    BREAKING NEWS
    South Africa and Stellantis has Greeted a Pact to Develop a Unique Automobile Manufacturing Facility
    Dr. Akinwumi Adesina AfDB’s President maintains it is time to Develop Youth-Based Wealth to Bolster a Better Comprehensive Nigerian Economy
    Abidjan to host on March 17th 2023 the 8th Session of the Steering Committee for the Construction Project of a Motorway between Abidjan and Lagos
    Rwanda’s President Paul Kagame and the President of the World Football Association(FIFA) launched the Kigali Pelé Stadium which is changing the name from Kigali Regional Stadium In Nyamirambo the Capital of Kigali
    First Gold Refinery Company BTC Global started the first Gold refinery in South Sudan in Juba
    The AfDB inducted the African Financial Integrity and Accountability Support Project (AFIAP) by way to Enhance Cooperative Ripostes to Illicit Financial Successions in African Nations
    Morocco’s Strawberry Exports Hits $70 Million in Annual Revenue, a New Historical Record
    African Energy Chamber (AEC) inferred proposals to host the ‘Invest in African Energy’ summit, to…Energy Partnership between African Energy Policymakers and Corporations and Investors in the Middle East
    OCP Africa through its Africa Transformation Office with Microsoft has Confirmed Partnership with the Objective of Certainly Impacting Smallholder Growers and Agristakeholders across the Continent by 2025
    Annually 100,000 Metric Tons of Soybeans Export Deal has begun by Malawi with Neighboring Tanzania

    Reserve Bank of Zimbabwe has Initiated Gold Coins to be Sold to the Public in a bid to Repress Uncontrolled Inflation

    Posted On 28 Jul 2022
    By : New Africa Business News, Staff Correspondent
    Comment: 0

    By Abdul Rahman Bangura–

    Photo Credit: Facebook

    NEW AFRICA BUSINESS NEWS (NABN) Freetown, Sierra Leone – Since trust in Zimbabwe’s moolah is bad after people saw their savings snuffed out by hyperinflation in 2008 that attained five billion per cent, according to the IMF, some Zimbabweans crave to rush on the illegal market for scarce US dollars to keep at home as savings or for daily transactions.

    The Central Bank expended 2,000 coins to Commercial Banks on Monday July 25th, 2022. The first batch of the coins was coined outside the nation but ultimately, they will be generated locally, according to the Governor of the
    Reserve Bank of Zimbabwe – John Mangudya.

    “The government is striving to mediate the high demand for the US dollar because this high demand is not being matched by supply,” Zimbabwean Economist Prosper Chitambara stated.

    “The expectation is that … there will also be moderation in terms of the depreciation of the local currency, which should have some kind of stabilizing effect in terms of pricing of goods,” he noted.

    Each person or corporation can purchase the coins from legal outlets such as banks and can maintain the coins at a bank or take them home, according to an announcement by the nation’s Central Bank. Foreigners can only buy the coins in foreign currency, the Central Bank expressed.

    …“will have liquid asset status, that is, it will be eligible of existing effortlessly modified to cash, and will be tradable locally and internationally. The coin may also be utilized for transactional purposes”, the Central Bank noted. People
    carrying the coins can only trade them for cash after 180 days from the date of buying, according to the Reserve Bank of Zimbabwe. 

     

    Current Outbreak of Coronavirus (COVID-19) Disease- Coronavirus advisory information, World Health Organization & United States, Centers for Disease Control and Prevention

    Coronaviruses (CoV) are a large family of viruses that cause illness ranging from the common cold to more severe diseases such as Middle East Respiratory Syndrome (MERS-CoV) and Severe Acute Respiratory Syndrome (SARS-CoV). A novel coronavirus (nCoV) is a new strain that has not been previously identified in humans.

    Coronaviruses are zoonotic, meaning they are transmitted between animals and people.  Detailed investigations found that SARS-CoV was transmitted from civet cats to humans and MERS-CoV from dromedary camels to humans. Several known coronaviruses are circulating in animals that have not yet infected humans.

    Common signs of infection include respiratory symptoms, fever, cough, shortness of breath and breathing difficulties. In more severe cases, infection can cause pneumonia, severe acute respiratory syndrome, kidney failure and even death.

    Standard recommendations to prevent infection spread include regular hand washing, covering mouth and nose when coughing and sneezing, thoroughly cooking meat and eggs. Avoid close contact with anyone showing symptoms of respiratory illness such as coughing and sneezing. Source- WHO

    who.int/emergencies
    Coronavirus Q&A, World Health Organization
    who.int/news-room
    Coronavirus condition overview, World Health Organization
    who.int/health-topics
    United States, Centers for Disease Control and Prevention
    cdc.gov/coronavirus/2019-ncov

    NEW AFRICA BUSINESS NEWS
    ADVERTISING OPPORTUNITY. CONTACT:  ADVERTISING@NEWAFRICABUSINESSNEWS.COM

    For New Africa Business News (NABN) Abdul Rahman Bangura Reports,  Africa Correspondent

     

     

    About the Author
    New Africa Business News Staff Correspondent
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    South Africa and Stellantis has Greeted a Pact to Develop a Unique Automobile Manufacturing Facility

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