Gold-Backed ZiG Climbs Most This Year as Zimbabwe Reserves Surge

04-07-2025

Zimbabwe's gold-backed ZiG posted its best single-day gain against the dollar this year, boosted by surging bullion output and improved foreign currency reserves.
The currency strengthened 0.2% on Friday to trade at 26.89 against the dollar, according to data posted on the central bank's website. That is only its 12th day of appreciation against the US currency this year.

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South Africa Approves $5.3 Billion Guarantees for Transnet Debt

Bloomberg

6 hours ago

Bloomberg

South Africa Approves $5.3 Billion Guarantees for Transnet Debt

South Africa's government approved 94.8 billion rand ($5.3 billion) in guarantees to further support state-owned rail and port operator Transnet SOC Ltd. The allocation includes 48.6 billion rand to ensure all of the company's debt redemptions will be covered over the next five years, the Department of Transport said in a statement on Sunday. The other 46.2 billion rand is to mitigate the risks of credit-ratings downgrades on Transnet's debt.