“According to Hanke’s (American economist Steve Hanke) currency watch list the ZWL lost 96,72% of its value since the 1st of January 2022,” reads the report.

From 2020 to August 8, Zida had recorded more than 700 investment licenses with a total projected investment value of US$5,65 billion.

Chitambara said the government needed to control the money supply growth.

The group's exports market includes countries like Zambia, Mozambique, the Democratic Republic of Congo, Malawi, and Botswana.

The country has more than 100 IPPs with a cumulative capacity of 8 000 megawatts (MW) potential capacity installation.

ZETDC, the distribution arm of power utility firm Zesa Holdings, is reeling under massive losses because of the low tariffs.

In 2019, the distribution arm of the power utility firm, Zesa Holdings, the Zimbabwe Electricity Transmission and Distribution Company introduced a net metering programme.

Mafukidze said there was need for unity in Zimbabwe to achieve the economic targets.

This was introduced to put less pressure on the power utility in delivering electricity and reduced the need for daily load shedding that can last for up to several hours every day. 

Delta CEO Matlhogonolo Valela told standardbusiness that the company was making its own money to put back into the business.

Nielson said the banks that disburse the funds had different specific requirements that complicated the process.

AGS Harare station manager Shingirai Ruombwa told Standardbusiness in an interview that the company is also working on automating its data through the NAF system.

Biti who was Finance minister at the height of Zimbabwe’s first dollarisation phase between 2009 and 2013, said it was time to abandon the local currency for the second time.