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

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...Read more

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

24 April 2014 | 4312 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 | 1460 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

Zimbabwe's US coins deal collapses

10 April 2014 | 4765 Views
ZIMBABWE'S plans to import coins from the United States to alleviate the shortage of coins for small denomination change has collapsed, meaning the country will continue to depend on South African ra...

by Staff reporter

Westerners launch fresh bid to block sale of Zimbabwe diamonds

10 April 2014 | 2572 Views
WESTERN countries have launched a fresh bid to block the sale of Zimbabwe diamonds using the Organisation for Economic Co-operation and Development, sources close to the Dubai Diamond industry have co...

by Staff Report

Zimbabwe losing millions through the borders daily

08 April 2014 | 3853 Views
The country is facing serious cash leakages which have resulted in millions of dollars passing through the borders into neighbouring countries on a daily basis, an official said.Zimbabwe Reven...

by Staff reporter

'Zimbabwe's banking model archaic'

07 April 2014 | 3576 Views
Central bank deputy governor Kupukile Mlambo says the country's banking system is outdated and called on the sector to embrace new technology.Mlambo castigated the banking model in use as trad...

by Tatenda Macheka

Zim cost of living goes up

07 April 2014 | 4021 Views
THE cost of living as measured by the Consumer Council of Zimbabwe rose marginally last month from the February figure of $559.93 to $561.24. The food basket increased by 1,52 percent or $2,29...

by Business Reporter

Zim sells 380 000 carats (diamonds) in Dubai

04 April 2014 | 3951 Views
Zimbabwe sold 380 000 carats at the Dubai tender raking in US$29.2 million.All the seven diamond mining companies in Marange participated at the inaugural diamond tender in Dubai, achieving a...

by Staff Reporter

Zimtrade cautions on over-reliance on SA

04 April 2014 | 2186 Views
Zimtrade on Friday warned that over reliance on South Africa as the main trading partner puts the economy at risk and called for local companies to diversify export markets.A study of 50 firm...

by Staff reporter

Weaker rand to hurt Zim's trade competitiveness

03 April 2014 | 4096 Views
The continued weakening of the South African rand should further erode Zimbabwe's export competitiveness as South Africa is Zimbabwe's major trading partner in the region, and only falls behind Ch...

by Staff reporter

Timing factors drive interest in Zim investment indaba

03 April 2014 | 1572 Views
Global investors may have lowered their exposure to some emerging markets, but interest in an African ‘frontier market' like Zimbabwe has not diminished, according to the organisers of the annual Im...

by Business reporter

Zimbabwe tobacco sales hit $130m

02 April 2014 | 1832 Views
Zimbabwe has earned $130,6 million from the sale of 41,78 million kilogrammes sold at an average price of $3.13 per kilogramme since the opening of this marketing season on February 19.The vol...

by Staff reporter

Zim power generation improves

01 April 2014 | 2888 Views
Five out of six power generating units at Hwange Thermal Power Station are operating with an output of $518 mega watts, a development expected to reduce load shedding.The resuscitation of the ...

by Staff reporter

Land Tax - A New Vision of Free Enterprise for Zimbabwe

31 March 2014 | 2447 Views
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by Land Tax

Mugabe rule costs Zimbabwe a staggering $96 billion

30 March 2014 | 4173 Views
ZIMBABWE has lost a staggering $96 billion in economic value due to economic misrule in the 12 years to 2012, a global research firm has said.The Centre for Global Devel...

by Staff reporter

Zimbabwe moves in to repay external debt

30 March 2014 | 2455 Views
ZIMBABWE has entered into a repayment plan with creditors as it moves to settle the $6,1 billion external debt, Finance minister Patrick Chinamasa has said.The country d...

by Staff reporter

Zim economy faces collapse, says IMF

28 March 2014 | 6383 Views
The International Monetary Fund (IMF) has warned of a challenging economic environment ahead and urged government to pursue strong macroeconomic policies.An IMF staff mission, led by Alfredo ...

by Staff reporter

Zim govt fails to account for $140 million

28 March 2014 | 2829 Views
AT least $140 million haemorrhaged out of the ailing Zimbabwean economy unaccounted for from government ministries and departments, highlighting an acute degree of mismanagement of public funds....

by Maggie Mzumara

Zimbabwe courts Chinese power firm

27 March 2014 | 2578 Views
ZIMBABWE is courting China Power Investment Corporation to invest in the $2,2 billion Sengwa Thermal Power Station in Gokwe, Finance Minister Patrick Chinamasa has said."We have held meetings...

by Staff reporter

'No cuts to public sector wage bill,' says Chinamasa

26 March 2014 | 3317 Views
Zimbabwe is not prepared to slash its public sector wage bill to meet debt-reduction plans agreed with the IMF because it will involve too many job cuts, the finance minister said on Wednesday....

by Reuters

Visiting IMF team ends mission

25 March 2014 | 2982 Views
The visiting International Monetary Fund (IMF) team has concluded its fact finding mission on Zimbabwe, which might lead to restoration of ties with the government.The IMF team which concluded...

by Staff Reporter

Namibian Diamonds can fetch more than 14 times Zimbabwe diamonds

25 March 2014 | 4618 Views
Namibia's marine diamonds can sell for at least triple the price of gems from neighboring Botswana and as much as 14 times those from Zimbabwe, the country's Diamonds Commissioner Kennedy Hamutenya s...

by Bloomberg

Business, labour endorse new RBZ Governor

24 March 2014 | 2051 Views
New RBZ Governor John Mangudya has the right qualifications and experience to lead the central bank, and his appointment inspires confidence in the market, business and labour leaders said yesterd...

by Staff reporter

New RBZ Governor is not a magician

24 March 2014 | 3691 Views
Incoming Reserve Bank of Zimbabwe (RBZ) governor Dr John Mangudya will be expected to perform nothing short of a miracle and become the biblical Moses that can lead the RBZ out of its financial doldru...

by Rumbidzai Mashayahanya

Mugabe appoints Gono's RBZ successor

23 March 2014 | 6199 Views
President Mugabe has appointed economist and former CBZ chief executive officer Dr John Mangudya as the new Governor of the Reserve Bank of Zimbabwe.The appointment is effective May 1, runnin...

by Tinashe Farawo

Zim economy worsens, as Mugabe remains mum

20 March 2014 | 6358 Views
Zimbabwe is paying a heavy financial price as the economy slows down under President Robert Mugabe's Zanu-PF government, with stocks and bonds on an unprecedented plunge.The Zimbabwe Stock Exc...

by Staff reporter

Zim govt cancels import and export licences

20 March 2014 | 7770 Views
The Ministry of Industry and Commerce has cancelled all import and Export licences with effect from last week.Industry and Commerce minister Mike Bimha said holders of the old import and e...

by Staff reporter

Rising chrome-ore demand pressures Zimbabwe to lift export ban

12 March 2014 | 1574 Views
Zimbabwe is facing "huge" external demand for chrome ore, renewing pressure on the government to relax a law that bans exports of the unprocessed material, Mines Minister Walter Chidakwa said. ...

by Bloomberg

Zimbabwe trade imbalance could be understated

10 March 2014 | 1552 Views
Zimbabwe's trade deficit could be significantly understated in view of indications by a World Bank study that partner countries have reported much lower import figures from the country.The rep...

by Tawanda Musarurwa

'Zim's only reserves are $500 000 of gold coins'

06 March 2014 | 2976 Views
 Zimbabwe is holding gold coins valued at $501,390 as its only reserves, enough to buy only 1,400 tonnes of maize, the finance minister has said, highlighting the parlous state of the country's ...

by Agencies

China rules out Zim budgetary support

06 March 2014 | 5632 Views
China has ruled out budgetary support to Zimbabwe.Finance minister Patrick Chinamasa, who recently returned empty-handed from Washington after being denied funding by the International Mon...

by Staff reporter

World Bank urges Zim to reduce trade restrictions

05 March 2014 | 4298 Views
The World Bank has urged Zimbabwean authorities to reduce trade restrictions in order to improve on its trade performance after a research found the country's exports to have drastically declined by 5...

by Staff reporter

Buy Zimbabwe Campaign under threat

03 March 2014 | 2104 Views
Low capacity utilisation in the manufacturing sector and lack of consumer education are hindering the push to promote the consumption and use of locally produced products under the banner of Buy Z...

by Staff reporter

'Yuan, Yen, Rupee unlikely to solve Zim's economic problems'

26 February 2014 | 5282 Views
Zimbabwe's move to adopt the Chinese Yuan, Japanese Yen, Indian Rupee and Australian Dollar is unlikely to solve the country's economic problems, Norwegian economist Erik Reinert said Monday....

by Staff reporter

Zimbabwe rakes in $70 million from diamond sales

25 February 2014 | 4497 Views
The second sale of Marange diamonds in Europe (Antwerp, Belgium) has raked in US$70 million after trading...

by Staff reporter

Zimbabwe loses billions to SA gold buyers

25 February 2014 | 3130 Views
ZIMBABWE is losing billions of dollars worth of gold to South African buyers who are offering local small scale miners high prices for the yellow metal, Parliament heard on Monday. Officia...

by Staff reporter

Good rains to spur Zimbabwe economic growth

21 February 2014 | 3535 Views
Zimbabwe is likely to record positive growth rates this year due to the good rains received this wet season and the confidence-building efforts that are underway, a local think-tank has said. ...

by Staff reporter

Zimbabwe poverty datum line up to $511

20 February 2014 | 2633 Views
THE cost of living for an average Zimbabwean has shot up with the shopping basket for an average family of five increasing from $505 in December to $511 in January this year, statistics released by th...

by Business reporter

'Zimbabwe can generate $8 billion from diamonds'

16 February 2014 | 3384 Views
ZIMBABWE has the potential of earning $8 billion annually if it cuts and polishes its rough diamonds, a local natural resources watchdog has advised.In a report, Zimbabw...

by Staff reporter

Zimbabweans sceptical over new currencies

11 February 2014 | 5847 Views
BULAWAYO residents have expressed mixed feelings and concern over the introduction of more currencies into the local multi-currency basket.Speaking to ...

by Business Reporter

Zimbabwe cost of living holds steady

06 February 2014 | 3103 Views
The cost of living as measured by the Consumer Council of Zimbabwe's low income urban earner monthly basket for a family of six decreased 0,56 percent from the December 2013 figure of $564,72 to...

by Staff reporter

Zimbabwe needs $27 billion for ZimAsset

05 February 2014 | 1746 Views
Government needs to raise in excess of $27 billion to fund projects outlined in the Zimbabwe Agenda for Sustainable Socio-Economic Transformation.Zim Asset is the Government's new macro-econom...

by Staff reporter

Zimbabwe earns mining top spot

03 February 2014 | 2755 Views
Eight countries in Southern Africa have earned a position among the top 20 "most exciting African mineral jurisdictions".According to an investment guide released on Monday, they are South Afr...

by Sapa

'Zimbabwe still has diamonds'

31 January 2014 | 4295 Views
Mines and Mining Development minister Walter Chidhakwa yesterday said Zimbabwe still had diamonds, but will not issue new claims to mining firms that only wanted to rely on alluvial gems in Marange....

by Staff reporter

RBZ Monetary Policy Statement - Full document

29 January 2014 | 4995 Views
Acting Governor, Charity Dhliwayo presented the 2014 Monetary Policy Statement today in which she extended the period for complying with the minimum capital of $100 million for commercial and merchant...

by RBZ

Zimbabwe adds Chinese Yuan, Rupee, Yen to the multi-currency system

29 January 2014 | 12849 Views
Zimbabwe has expanded the official multi-currencies basket to include Chinese Yuan, Australian dollar, Indian Rupee and the Japanese Yen, we can reveal.This further dashes hopes of the return...

by Business reporter

RBZ propose interest rates of 8% per year

28 January 2014 | 1704 Views
The Reserve Bank of Zimbabwe monetary policy committee says the proposed interest rate structure of 8% per annum should be utilised as a benchmark for other debt in the market, the ZBC reported....

by Business reporter

Zimra introduces pre-clearance facility

28 January 2014 | 3234 Views
The Zimbabwe Revenue Authority (Zimra) will enforce a pre-clearance facility which allows traders to clear their freight before importation of all shipments that come into the country to improve effic...

by bh24

Econet transacts $200m monthly through EcoCash

27 January 2014 | 1466 Views
ECONET Wireless Zimbabwe says more than $200 million is being transacted per month through the telecommunication's mobile money transfer platform, EcoCash, resulting in the transformation of the count...

by Chronicle

Card based transactions continue to rise

24 January 2014 | 1912 Views
The total value of card based transactions increased by 1.11% to $331.71 million in the month of November, from $ 328.06 million in October 2013.This is based on figures released by the Reserve Bank o...

by Staff reporter
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