Zimbabwe seeks $10 billion debt cancellation

Finance Minister Tendai Biti says a government led by his MDC party would push for the cancellation of the country's foreign debt. Assuming the MDC-T wins upcoming elections, Biti said a post-...Read more

Zimbabwe seeks $10 billion debt cancellation

2013 May 22 | 1603 Views
Finance Minister Tendai Biti says a government led by his MDC party would push for the cancellation of the country's foreign debt. Assuming the MDC-T wins upcoming elections, Biti said a post-...

by Staff reporter

'Zimbabwe mining rights belongs to Mugabe,' says Mutambara

2013 May 20 | 4585 Views
MINING rights in Zimbabwe are vested in the President and acquisition of a mining title does not transfer ownership of mineral claims to the investor, Deputy Prime Minister Arthur Mutambara has said....

by Staff reporter

Banking sector failing to fund agriculture

2013 May 20 | 1340 Views
The Banking sector is facing challenges in providing adequate funds to support agricultural production, a senior bank executive has said. Speaking at the official launch of the Food and Nutri...

by Staff reporter

MDC-T to maintain the US dollar currency regime for 5 years

2013 May 19 | 2268 Views
The Movement for Democratic Change led by Prime Minister Morgan Tsvangirai has said it would maintain the current US dollar-dominated currency regime during its first five years in power if it forms t...

by Staff reporter

The money changers of Zimbabwe, osphatheleni - video

2013 May 16 | 3327 Views
http://www.youtube.com/watch?v=8yY-eOXzvbQ ...

by Staff reporter

Zimbabwe's year-on-year inflation rate goes down

2013 May 16 | 1877 Views
Zimbabwe's year-on-year inflation rate for April 2013 shed 0,27 percentage points on the March 2013 rate of 2,76 percent to 2,49 percent, the Zimbabwe National Statistics Agency has said. This...

by Staff Reporter

RBZ to raise minimum capital requirements for microfinance institutions

2013 May 13 | 1878 Views
THE Reserve Bank of Zimbabwe plans to raise minimum capital requirements for microfinance institutions from the present US$25 000 to US$5 million as part of a cocktail of measures the central bank sai...

by Staff Reporter

Investor interest sharpens in Imara Zimbabwe conference

2013 May 13 | 1792 Views
The Zimbabwean government's quarterly report on the state of the economy has sharpened investor interest in the progress being made in the mining and agricultural sectors ahead of the upcoming Imara ...

by Staff reporter

Risks in hotel investment in Zimbabwe

2013 May 11 | 2446 Views
The Hotel Investment Conference Africa for 2013 was hosted in Durban this week.http://www.youtube.com/watch?v=F3h2fHeN3oc ...

by abndigital

Banks adopt conservative lending as polls loom

2013 May 09 | 2146 Views
Local banks are expected to adopt a cautious lending approach due to the high levels of non-performing loans and uncertain economic environment as the country gears for elections later this year, a lo...

by Business reporter

'Our current Income Tax Act is very much in favour of the mining industry,' says Biti

2013 May 09 | 1687 Views
GOVERNMENT wants to rationalise the tax regime so that it is not discriminatory against the poor and treat everyone fairly, a Cabinet minister has said.Finance Minister Tendai Biti said the...

by Staff Reporter

Zimbabwe urged to replace imports with local produce

2013 May 08 | 1687 Views
A Bassfisherman's ApproachACCORDING to recent statistics, the trade deficit between Zimbabwe and South Africa is US$530 million. Zimbabwe is importing goods worth US$3,2 billion from Sou...

by Ben Chiganze

Fuel prices go down

2013 May 07 | 4163 Views
Zimbabwe's fuel prices have gone down by an average 8c after surging at least 10c following the hike of excise duty on the commodity. Petrol price which had increased to as much as $1,60 per ...

by Business reporter

'Mpofu stalling methane gas project,' says Mangoma

2013 May 06 | 2905 Views
Energy and Power Development minister Elton Mangoma is on a collision course with Mines and Mining Development minister Obert Mpofu after he accused the latter of stalling a methane gas project in Lup...

by Staff reporter

Zimra exceed target collections by 5%

2013 May 06 | 2030 Views
The Zimbabwe Revenue Authority (ZIMRA) exceeded target collections for the first quarter of this year by 5 percent to reach US$818, 6 million, an official said yesterday. In a statement, ZIMRA...

by Staff reporter

Call for mining firms to list on ZSE

2013 May 03 | 1635 Views
The Government should craft legislation that compels foreign-based mining firms operating in the country to also list on the local bourse, says MMCZ. Currently, only two foreign mining firms B...

by Staff reporter

Zimbabwe to hike mining taxes to bankroll elections

2013 May 02 | 1578 Views
Zimbabwe will increase mining royalties soon to raise $132 million to bankroll the forthcoming elections, Finance minister Tendai Biti has said. The $100 million that had been promised b...

by Staff reporter

'Zimbabwe has potential to be a $100 billion economy'

2013 April 28 | 2897 Views
ZIMBABWE has potential to achieve a US$100 billion economy earlier than 2020, despite a ballooning external debt overhang and only requires right leadership and personality, a former finance minis...

by Moses Chibaya

'The time to invest in Zimbabwe is now,' says Tsvangirai

2013 April 25 | 2966 Views
Prime Minister Morgan Tsvangirai says the time to invest in Zimbabwe is now and not after the elections.Tsvangirai said this in a speech read on his behalf at the national business conference ...

by Staff reporter

Zimbabwe's grain reserve running dangerously low

2013 April 25 | 2040 Views
Zimbabwe's grain reserves are running dangerously low ahead of new but poor harvests caused by erratic rain, an independent continent-wide development bank said Wednesday.The African Developme...

by AP

Kasukuwere denies Zimbabwe indigenisation policy changes

2013 April 24 | 9298 Views
Indigenisation Minister Saviour Kasukuwere on Wednesday said the ministry has not changed its legislative framework.This refutes reports by state newspaper The Sunday Mail that there have bee...

by Staff reporter

Zimbabwe's broad money supply growth declines

2013 April 23 | 1829 Views
ANNUAL broad money supply growth declined by 12,1 percent in the 12 months to January 2013 in a negative development for an economy in need of credit, the African Development Bank has said.Af...

by Golden Sibanda

Zimbabwe's unemployment rate tops 70%

2013 April 22 | 3609 Views
Zimbabwe's unemployment rate remains very high at more than 70 percent with less than 900 000 people formally employed out of a 13 million population, a leading economist has said.John Roberts...

by Business reporter

ZimFund launches infrastructure development project

2013 April 17 | 2277 Views
The Zimbabwe Multi-Donor Trust Fund (ZimFund) has implemented the first phase of its $29.65 million Urgent Water Supply and Sanitation Rehabilitation Project (UWSSRP), which will see developments in f...

by Staff reporter

Biti released disbursements totalling over $51,5 million in 3 months

2013 April 16 | 2624 Views
Tendai Biti, the Minister of Finance, has made capital disbursements totalling over US$51, 5 million to various critical sectors over the past three months.In his Treasury State of the Econo...

by Ndou Paul

Zim government misses revenue target

2013 April 16 | 1553 Views
ZIMBABWE missed its revenue target for the first quarter of the year, as Government warns this year's economic growth forecast may not be achieved.Finance Minister Tendai Biti said yesterday, ...

by Business Reporter

Zimbabwe's annual inflation rate drops

2013 April 16 | 1710 Views
ZIMBABWE'S annual rate of inflation shed 0,22 percentage points on the February figure of 2,98 percent to 2,76 percent in March, the Zimbabwe National Statistics Agency has said.This means pri...

by Business Reporter

Imara expects big turnout at Zimbabwe investor conference

2013 April 15 | 2163 Views
A large turnout of foreign delegates is expected to descend on the Zimbabwean capital of Harare for Imara's annual investor conference on June 3 and 4 as the event occurs on the probable run-in to the...

by Business reporter

Zim's hyperinflation era profiled

2013 April 11 | 2459 Views
THE Macroeconomic and Financial Management Institute for Eastern and Southern Africa is working on documenting Zimbabwe’s country hyper-inflationary era to provide insights on how the country dealt ...

by Staff reporter

Gono denies bank takeover

2013 April 11 | 3193 Views
Central bank chief on Wednesday denied there were plans for a government takeover of the local operations of London-based Standard Chartered Bank, putting the central bank at odds with a powerful nat...

by Sapa-dpa

Biti wrongfully credited with the dollarisation of the Zim economy

2013 April 09 | 3344 Views
Zimbabwe's economic growth since 2009 has been credited to Tendai Biti, the Minister of Finance's adoption of the US dollar and the South African rand as the official currencies, an international th...

by Staff reporter

No Zim Dollar in the near future, says Mashakada

2013 April 04 | 2419 Views
Minister of Economic Planning and Investment Promotion Dr Tapiwa Mashakada has assured possible investors over continued use of the multi-currency system at least until 2016.Mashakada allayed ...

by Business reporter

Zimbabwe is not a Chinese colony, says Chimanikire

2013 April 04 | 2993 Views
Zimbabwe is not being colonised by the Chinese as many would like to believe, deputy mines minister Gift Chimanikire told a Zimbabwe investment conference in Boksburg South Africa."The Chinese...

by Staff reporter

Zimbabwe not yet ready to have its own currency, says Gono

2013 April 04 | 3516 Views
RBZ governor Gideon Gono says Zimbabwe is not yet ready to have its own currency adding the country had to first address its burgeoning trade deficit.Gono said Zimbabwe remained heavily-depen...

by Staff reporter

Batoka power plant to turn Zim into a net exporter of electricity

2013 April 04 | 3334 Views
THE Zambezi River Authority has shortlisted six international investors for the construction of the 1 600-megawatt hydropower plant at the Batoka Gorge, a senior Government official has said....

by Staff reporter

Why the Zimbabwean economy has been growing faster than Hong Kong

2013 April 03 | 3744 Views
NORTH Carolina economist Craig Richardson has said Zimbabwe's rapid gross domestic product (GDP) growth and poor business environment appear to be a paradox, and the rate of increase is due to unsusta...

by Staff reporter

Zimbabwe's economic recovery hazy, warns Gono

2013 April 03 | 2755 Views
The Reserve Bank of Zimbabwe (RBZ) has that the economy's full recovery remains hazy as long as the country continues to rely on imports of finished products.Addressing the media after the ce...

by Staff reporter

Gono speaks on gold coins he was accused of stealing from bank's vaults

2013 April 03 | 3332 Views
Central Bank Governor Gideon Gono on Tuesday displayed the gold coins which he was alleged to have stolen from the bank's vaults to refute the allegations.Addressing journalists, Dr Gono said...

by Staff Reporter

RBZ parades Zimbabwe's historic gold coins

2013 April 02 | 2180 Views
THE board of the Reserve Bank of Zimbabwe (RBZ) has denied claims that historic gold coins had gone missing.The allegations, first made by Munyaradzi Kereke, the former adviser to Reserve Bank...

by Staff reporter

Zimbabwe improves on raw milk production

2013 April 02 | 2170 Views
Raw milk production in Zimbabwe increased slightly in the first two months of the year compared to the same period last year as most farmers intensified operations while new ones joined the industry....

by Staff reporter

Government wants informal sector to contribute in taxes

2013 March 31 | 2489 Views
Government says there is a need to come up with a database of the informal industry so that it can contribute to national development through paying tax. While there are no official statistics...

by Mafu Sithabile

Banking sector complies with indigenisation and empowerment regulations

2013 March 28 | 3080 Views
THE banking sector is complying with the country's indigenisation and empowerment regulations, despite spirited efforts from some quarters to discredit the programme.Youth Development, Indigen...

by Staff Reporter

Industry revival under spotlight

2013 March 27 | 1841 Views
Revival of industries and setting up new ones will come under the spotlight during the Zimbabwe International Trade Fair annual business conference next month. The one-day conference being co-...

by Business reporter

Zimbabwe policy environment least supportive in the world

2013 March 22 | 2632 Views
The World Economic Forum (WEF) has said Zimbabwe's policy environment is one of the least supportive in the world due to restrictive laws regarding foreign direct investment and property rights.&n...

by Fin24

Zim economy has potential to reach Singapore size by 2050

2013 March 22 | 2560 Views
A leading emerging markets economist says Zimbabwe's economy has the potential to grow to the size of Singapore by 2050 if it guarantees property rights, rafts effective agriculture and currency polic...

by Staff reporter

Beira-Feruka oil pipeline usage increases

2013 March 22 | 2746 Views
THE usage of the Beira-Feruka oil pipeline continues to increase over the years owing to the Road Levy which the Government imposed on fuel dealers, who bring the product by road.Statistics re...

by Staff Reporter

If you thought Zimbabwe's Gono was bad, what about Cyprus

2013 March 18 | 4164 Views
Euro-area finance ministers agreed to an unprecedented tax on Cypriot bank deposits as officials unveiled a 10 billion-euro ($13 billion) rescue plan for the country, the fifth since Europe's debt cri...

by bloomberg

Zimbabwe's year-on-year inflation increases to 2.98%

2013 March 16 | 2614 Views
Data released by the Zimbabwe National Statistics Agency (ZIMSTAT) on Friday shows that year on year inflation for February 2013 increased by 0,47 percentage points to 2,98 percent from 2,...

by Business reporter

VP Mujuru urges treasury to release funds in order to revival industry

2013 March 15 | 2581 Views
Vice President Joice Mujuru says treasury should speed up the release of money for the revival of industry as this will help in employment creation.Mujuru made the remarks at the handover of w...

by Business Reporter

Commodity exchange on the cards

2013 March 14 | 1994 Views
The country's fiscal authorities say they are finalising the setting up of the Commodities Exchange of Zimbabwe, which is expected to assist in the mobilisation of financial resources and ensuring pri...

by Staff reporter

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