RMB will become the legal currency of Zimbabwe in 2016

Posted by fiona on January 15, 2016

News from Zimbabwe on 21 December 2015, that China plans to cancel the 40 million dollars debt of Zimbabwe in order to expend the use of RMB in the multi-currency system of Zimbabwe. Zimbabwe will start to use the RMB as its legal currency in 2016.

The Minister of Finance of Zimbabwe said: “They(China) have cancelled our debts due for this year, we’re now calculating this year’s debts.”

The Minister also announced that Zimbabwe would make the RMB its legal currency in 2016 in order to increase the trade with Beijing.

Low copper prices place strain on Zambia’s mines

Posted by eva on January 15, 2016

24 December 2015 Last updated at 16:17 GMT

Commodity prices have struggled for the whole of 2015 and many African economies have been struggling as a result. Zambia is heavily reliant on copper exports and prices are at their lowest since 2009. This has led to some of the big producers like Glencore and Vedanta making cuts to both production and jobs.