Zimbabwe has one of the highest inflation rates in the world. With the local currency constantly losing value, people are looking for safe and reliable ways to protect their earnings and many in the middle-class are turning to property. 

Harare

Zimbabweans use property to protect against inflation

This is one of Harare's rich suburbs, newly built homes in an exclusive estate. Here is the middle class suburb where new developments are also going up. And these are low-cost houses in another part of the capital. Zimbabwe has one of the highest inflation rates in the world. Investing in property is how several people are trying to protect their earnings. You're actually preserving your value. I think that's the biggest advantage. Especially in a chronic inflationary environment, the only way to preserve your value is by investing in assets. Because assets tend to appreciate in value over time. Radwal Mucherera saw his father's generation struggle after their retirement savings were wiped out by inflation. He believes there's less risk in brick and mortar investments. So he's helping build the family home, an asset that won't be too affected every time the Zimbabwean dollar tumbles. You can see maybe the price of certain products is $1 today, maybe tomorrow it's $1.50. But when you have properties, I'm sure you can change the amount, whichever amount you want, because it's your own. Zimbabweans have had bad experiences with financial institutions here. Salaries and savings can disappear overnight. With inflation reducing the value of people's savings, some are building homes with money from relatives abroad to achieve some economic security. And others are converting their Zimbabwean dollars into U.S. dollars. Zimbabweans say at least this way they can see where their money is going. Commercial and residential real estate is growing in nearly every neighborhood. For inflation-fatigued Zimbabweans, this is a safer way to protect their money and generate some income.

At least four people are dead, including an infant, after a series of tornadoes swept across Oklahoma. The weather system is threatening the region with more twisters, heavy rain and large hail in a band stretching from Missouri to Texas.

Sulphur

At least four dead in Oklahoma tornadoes

Italian Prime Minister Giorgia Meloni said she would stand in upcoming European Parliament elections, a move apparently calculated to boost her far-right party, although she would be forced to resign immediately under EU rules.

Pescara

Italian far-right PM Meloni says will stand in EU elections

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Oklahoma

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Wakeley

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Canberra

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Tel Aviv-Yafo

Israel-Gaza War

Biden tells Netanyahu U.S. doesn't support Rafah assault

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Donetsk

Ukraine Invasion

Ukraine troops retreating on eastern front

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Shanghai

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Rafah

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Lviv

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Ohio police released video of a Black man who died at a local hospital after repeatedly telling officers "I can't breathe" as they pinned him to the floor of a bar and handcuffed him, evoking memories of the killing of George Floyd in 2020.

Canton

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Sderot

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Jerusalem

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Windsor

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Council of the City of Sydney

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Baku

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London

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Paris

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Nairobi

Climate Crisis

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New York

U.S. Presidential Election

The Australian journalist caught up in Trump trial

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Marsden Park

Mourners farewell Bondi security guard Faraz Tahir

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Washington

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Port-au-Prince

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