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Zimbabwe downgrades 2014 economic outlook

The Zimbabwe government has halved it 2014 real GDP growth to 3.1 percent in line with other forecasts made by the World Bank and the IMF, from the 6.1 percent made during the 2014 national budget....Read more

Zimbabwe downgrades 2014 economic outlook

24 July 2014 | 1098 Views
The Zimbabwe government has halved it 2014 real GDP growth to 3.1 percent in line with other forecasts made by the World Bank and the IMF, from the 6.1 percent made during the 2014 national budget....

by Business reporter

Zimbabwe bans rough diamonds export

24 July 2014 | 1181 Views
CABINET on Tuesday directed Mines and Mining Development minister Walter Chidakwa to immediately stop the export of rough diamonds to ensure the country gets maximum value for its minerals.Chi...

by Staff reporter

Tendai Biti wants rand to replace US dollar

24 July 2014 | 5311 Views
RENEWAL Team interim secretary-general and former Finance minister Tendai Biti yesterday called on the government to disband the use of the US dollar (US$) as the official base currency and officiall...

by Staff reporter

Zimra misses revenue target

23 July 2014 | 1426 Views
LOW capacity utilisation in industry and limited disposable income weighed down on the contribution of Value Added Tax (VAT) from local sales to revenue collection by the Zimbabwe Revenue Authority (Z...

by Oliver Kazunga

'Zimbabwe could miss 6.4% growth target for 2014,' says Chinamasa

21 July 2014 | 1343 Views
Zimbabwe could miss its 6.4% growth target this year but the final number will not be as low as some international lenders have predicted, finance minister Patrick Chinamasa said yesterday.The...

by Reuters

Zimbabwe eyes $100m from diamond sale

20 July 2014 | 1693 Views
Zimbabwe today begins auctioning nearly one million carats of diamonds at the Dubai Diamond Exchange (DDE), with anticipation high that the two-week auction will earn the country an average $100 per c...

by Kuda Bwititi

Chinamasa to court investors in UK

17 July 2014 | 1817 Views
Finance Minister Patrick Chinamasa is expected to lead a high level of Zimbabwean business executives and government officials to London as government intensifies efforts to court global investor...

by Staff reporter

Zim inflation to remain low due to falling prices

14 July 2014 | 1735 Views
THE International Monetary Fund (IMF) projects Zimbabwe's inflation to remain low at 0,2% due to falling prices but warned that deflation would also haunt the country.Deflation occurs when the...

by Staff Reporter

ILO discusses formalising informal economy

10 July 2014 | 1059 Views
Representatives of governments, employers and workers from all over the world, including Zimbabwe, recently met at the International Labour Conference in Geneva for two weeks to come up with propo...

by Mike Hamilton

Tobacco surge 'justifies Mugabe's land grabs'

07 July 2014 | 2432 Views
Zimbabwe's biggest tobacco sales in 13 years vindicate the land transfer campaign pursued by President Robert Mugabe's government, according to Agriculture Minister Joseph Made.The more than ...

by Bloomberg

Zimbabwe requires 7% average growth rate

04 July 2014 | 1176 Views
Zimbabwe needs a medium and long-term average growth rate of 7 percent if the Government is to significantly reduce poverty and improve the standard of living, an expert has said. African Institute fo...

by Staff reporter

IMF 'sees promise' on Zimbabwe

04 July 2014 | 2351 Views
Finance Minister Patrick Chinamasa has said the International Monetary Fund (IMF) has written to him expressing satisfaction with the efforts so far made by Zimbabwe to restore the economy and settle ...

by Staff reporter

Zimbabwe to rejoin UK gold trading centre

04 July 2014 | 1809 Views
Zimbabwe plans to rejoin the London Bullion Marketing Association (LBMA) by the end of next year after complying with the global gold trading centre's requirements.The government is in the...

by Staff reporter

'Zimra taxes too high'

02 July 2014 | 3147 Views
The Ministry of Finance and Economic Development has been taken to task over why the Zimbabwe Revenue Authority continues to levy high taxes on an industrial base which is shrinking due to economic ch...

by Staff reporter

'Zim govt will not mortgage minerals,' says Chinamasa

02 July 2014 | 1424 Views
Government will not consider using the country's mineral resources as leverage to mobilise funds needed to revive the economy before conducting geological surveys of the resources available, an offici...

by Staff reporter

Chinamasa looks to patch up Zimbabwe

02 July 2014 | 3052 Views
Zimbabwe's economy is on the verge of recession, with low consumer demand and a liquidity crunch putting its businesses under strain. Against this backdrop, Finance Minister Patrick Chinamasa ...

by The Banker

Special vehicle to take over lenders' bad loans

30 June 2014 | 2130 Views
Zimbabwe's central bank is considering establishing a body to take over local lenders' non-performing loans and make it easier for them to attract new capital, its governor said on Monday.Seve...

by Reuters

Marange diamond deposits run out

30 June 2014 | 5128 Views
Diamond mining firms in Marange will this week lay off more workers in an exercise which will result in more than 400 job losses.A Daily News report quoted worker's unions saying Chinese compa...

by Mthulisi Mathuthu

Zim government charges new farmers rent

27 June 2014 | 2632 Views
Government plans to widen its revenue base by charging the 300,000 land reform beneficiaries rent for their farms, Lands Minister Douglas Mombeshora has said. Mombeshora told a gathering o...

by Staff reporter

Beer, Econet only attractions in Zimbabwe

27 June 2014 | 2713 Views
Zimbabwe's deteriorating economy and a stock market that's fallen more than any other in Africa this year are doing nothing to scare off one of South Africa's biggest money managers. Allan Gra...

by Bloomberg

Zimbabwe govt records $68 million revenue deficit

23 June 2014 | 2662 Views
The government says it incurred a revenue deficit of $68 million in the first three months of this year in a development that has been interpreted as reflecting low production in the economy.A...

by Staff reporter

Aquaculture sector needs proper investment

23 June 2014 | 1479 Views
There is need for proper investment for the fast rising aquaculture sector which contribute about 10 percent of the country's Gross Domestic Product (GDP), an official has said.Aquaculture is ...

by Portia Sigauke

'Economy first, succession later,' says Chinamasa

23 June 2014 | 2387 Views
ZIMBABWEANS should not focus on succession related issues and personalities and direct their energy towards economic revival, Finance Minister Patrick Chinamasa has said.Officially launching ...

by Farirai Machivenyika

Zim signs Air Service Agreement with India

20 June 2014 | 1541 Views
GOVERNMENT has signed an Air Service Agreement with India which seeks to regularise the operation of air transport services between the two countries.Speaking at the signing ceremony of the Ai...

by Staff Reporter

Zimbabwe signs Air services agreement with India

19 June 2014 | 1741 Views
Government today signed an Air Services agreement with India, a development which will promote the national airliner and improve the country's tourist arrivals and the sector's gross domestic prod...

by Staff reporter

Zimra to raid nostro accounts

17 June 2014 | 2956 Views
Government tax-collector, the Zimbabwe Revenue Authority (Zimra), is in consultations with the Reserve Bank of Zimbabwe and the ministry of Finance to demand tax from nostro accounts, Commissioner Gen...

by Staff reporter

Zimbabwe deflation continues to thaw

16 June 2014 | 4413 Views
Zimbabwe's deflation has continued to thaw but remaining in the negative after the annual inflation rate gained 0,07 percentage points to -0,19 percent.Figures from the Zimbabwe National Stati...

by Staff reporter

IMF to appoint its first country head for Zimbabwe in a decade

13 June 2014 | 2601 Views
The International Monetary Fund is appointing a resident representative in Zimbabwe for the first time in 10 years as the southern African country seeks to mend relations with the lender.C...

by Bloomberg

Zimbabwe urged not to mortgage minerals

13 June 2014 | 2385 Views
The World Bank has warned Zimbabwe against mortgaging its minerals, saying this jeopardises future generations' welfare.Nadia Piffaretti, the World Bank's senior economist,  told a news c...

by Staff reporter

Zim economy in dire straits

12 June 2014 | 4629 Views
THE country's economy continues to swing directionless with figures indicating that the Zimbabwe Stock Exchange (ZSE), seen as the barometer of the economy, slumping by US$642,8 million to US$4,56 bil...

by Fingaz

'Zimbabwe prefer Chinese investors,' says Nhema

29 May 2014 | 2846 Views
Zimbabwe will always give  preferential treatment to Chinese investors as they stood by the country during tough times, Indigenisation minister Francis Nhema said.He, however, said govern...

by Staff reporter

Global investors head for Imara's Zim conference

27 May 2014 | 3687 Views
Recent lacklustre performance by the Zimbabwe economy has not stopped global investors flocking to the annual conference staged in Harare by Imara Edwards, the country's leading stockbroker and their ...

by Business reporter

Hidden positives spur interest in Imara's big Zim event

27 May 2014 | 3047 Views
A spate of under-reported positives is fast turning the latest Zimbabwean investment conference into a much-awaited event with strong pulling power for some seasoned international investors....

by Clear distinction

Chinamasa courts Arab funding

27 May 2014 | 4211 Views
Finance and Economic Development minister Patrick Chinamasa has been invited to the Arab Bank for Economic Development (BADEA) headquarters in Khartoum, Sudan, to tie loose ends on a possible fun...

by Staff reporter

Belgium tops Zim tobacco export destinations

22 May 2014 | 2718 Views
Belgium is still Zimbabwe's top tobacco export destination in the 2014 marketing season, with more than 3,7 million kilogrammes worth US$10,6 million having been sold to the European country.S...

by Staff Reporter

Zim investment 'floor' a lift for Imara's Harare indaba

21 May 2014 | 2459 Views
Speculation that Zimbabwe's stock exchange may be moving off the bottom will add to excitement around the upcoming in-country investment conference hosted by Harare stockbroker, Imara Edwards and its ...

by Staff reporter

AfDB to help Zimbabwe cut debt

20 May 2014 | 2637 Views
Kigali - The African Development Bank is considering three ways it could help Zimbabwe clear its huge debts and will settle on a rescue package in three months' time, the bank's chief economist sa...

by Reuters

'Zim revenue collection tumbles'

15 May 2014 | 4536 Views
Revenue collection continues to tumble and there is need to urgently introduce a cocktail of measures to address the problem which is adversely impacting economic growth. Principal Directo...

by Staff reporter

'Zimbabwe too broke to implement ZimAsset'

14 May 2014 | 3901 Views
Zimbabwe has no funds to implement its five-year economic blueprint, the Zimbabwe Agenda for Sustainable Socio-Economic Transformation (ZimAsset), Industry minister Mike Bimha has said.He said...

by Staff reporter

Fuel prices to go up

14 May 2014 | 5870 Views
Cash-strapped Zimbabweans should brace for an imminent fuel hike after government gazetted new pricing regulations.Statutory Instrument 80 of 2014, crafted by the Energy ministry in consultati...

by Staff reporter

Zimbabwe still to approach China for yuan

13 May 2014 | 3485 Views
Zimbabwe has not made an official agreement with the Chinese government for the use of the yuan, a Chinese government official has revealed.Out-going Chinese economic and commercial Counselor...

by Staff reporter

China-Zimbabwe trade volumes double

13 May 2014 | 2069 Views
Trade volumes between Zimbabwe and China doubled between 2010 and 2013 to $1,1 billion, the outgoing Chinese economic and commercial counsellor Han Bing said yesterday. Speaking at his far...

by Staff reporter

Zimbabwe need $8 billion needed to revive industry

12 May 2014 | 2500 Views
Confederation of Zimbabwe Industries (CZI) president Charles Msipa says industry need at least $8 billion as working capital and for retooling to avoid further collapse currently happening in the ...

by Staff reporter

RBZ has 'no tools' to fix economy

08 May 2014 | 3507 Views
Harare - Zimbabwe's new central bank chief on Wednesday said the country's economy was weakening and the bank did not have the tools to fix it.In his first statement since assuming the role Re...

by Staff Reporter

Zimra surpasses revenue target

05 May 2014 | 3757 Views
THE Zimbabwe Revenue Authority (Zimra) has surpassed the revenue projection for first quarter by two percent to $834,6 million against a target of $817,9 million. In a statement, Zimra commi...

by Staff reporter

Zimbabwe fails to pay IMF debt

27 April 2014 | 2768 Views
Zimbabwe has no capacity to clear debt arrears with international financiers due to the poor state of the economy, Finance minister Patrick Chinamasa has said.Chinamasa ...

by Staff reporter

Zimbabwe unable to clear international debt

25 April 2014 | 2740 Views
The Minister of Finance and Economic Development, Patrick Chinamasa says government has no capacity to clear its international arrears and principal debts with the Bretton Woods institutions that incl...

by Staff reporter

Tendai Biti predicts Zimdollar return fears

25 April 2014 | 5012 Views
THE ZIMBABWEAN government will be forced to reintroduce the Zimbabwe dollar as a desperate attempt to expunge growing domestic debt and manage its wage bill, former finance minister Tendai Biti says....

by Staff reporter

Mugabe's Zanu-PF is weighing the reintroduction of the Zimdollar

24 April 2014 | 6341 Views
Zimbabwe is weighing the reintroduction of the national currency it abandoned in 2009 in favor of the U.S. dollar as it struggles to meet its monthly wage bill, three members of the ruling party's dec...

by Bloomberg

'Zimbabwe among worst destinations for mining investors'

22 April 2014 | 2620 Views
ZIMBABWE is ranked among the worst countries to invest in particularly in the mining sector, a recent report has shown.A 2014 report by the Poverty Reduction and Economic Management Unit Afri...

by Staff reporter
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