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70% of NRZ workers to be fired soon



About 70 percent of Railways of Zimbabwe (NRZ)'s workers would be fired soon, Transport and Infrastructural Development Minister Joram Gumbo has revealed.Gumbo says business environment ha...Read more

70% of NRZ workers to be fired soon

30 May 2016 | 4042 Views
About 70 percent of Railways of Zimbabwe (NRZ)'s workers would be fired soon, Transport and Infrastructural Development Minister Joram Gumbo has revealed.Gumbo says business environment ha...

by Thobekile Zhou

Zimbabwe exports to SA leap 380%

29 May 2016 | 2262 Views
THE country's exports to South Africa - its biggest trading partner - spiked by more than 380 percent in March to 1,1 billion rands ($71,4 million, using the average 1:15,4 exchange rate for March) fr...

by Darlington Musarurwa

Bond notes to start in August

29 May 2016 | 6140 Views
Bond notes will start circulating around August 2016 - and not June as previously projected - as their production takes at least four months, central bank Governor Dr John Mangudya has said.Go...

by Langton Nyakwenda and Enacy Mapakame

Mining tax regime unfair, says Zimra

16 May 2016 | 2600 Views
The Zimbabwe Revenue Authority (Zimra) says the country's mining tax regime must be reviewed, in the wake of shrinking royalties over the past year from the sector.Zimra chairperson Willia Bon...

by Staff reporter

Introduction of bonds notes to reignite inflationary pressures, says BMI Research

16 May 2016 | 4725 Views
BMI Research, a Fitch Group Company sees inflationary pressures returning to the Zimbabwean economy before year-end 2016, on the back of an increase in the money supply as a result of the government's...

by Staff reporter

Zimbabwe mulls tweaking tariff regime

15 May 2016 | 1959 Views
GOVERNMENT is considering reviewing the import tariff regime before the end of the year to stem the rising tide of imports, increase production capacity and narrow the trade gap.The envisaged ...

by Livingstone Marufu

RBZ governor turns to faith

14 May 2016 | 4241 Views
RESERVE Bank of Zimbabwe (RBZ) governor John Mangudya yesterday said there is need to "walk by faith", not by sight in this economy, as economists shot down plans to introduce bond notes as part of me...

by Staff reporter

3.7 million carats of diamonds smuggled from Zimbabwe

13 May 2016 | 3608 Views
Chinese diamond mining company Anjin Investments, in which the military has an interest, a few years ago smuggled 3.7 million carats of diamonds from Chiadzwa mining fields in Marange worth about ...

by Staff reporter

RBZ has no appetite to print bond notes over US$200M

11 May 2016 | 4995 Views
The Reserve Bank of Zimbabwe says it has no appetite to print bond notes beyond the US$200 million facility.Following concerns and fears from the local market on whether the Apex Bank will not...

by Staff Reporter

PDP offers real solutions to the cash crisis

11 May 2016 | 5808 Views
In the recent weeks, the media, social and political conversations have been dominated by the ongoing dire cash crisis as well as the proposed disastrous returning of the Zimbabwean dollar alias ‘bo...

by PDP

Zimbabwe foreign debt payments on track

11 May 2016 | 2750 Views
ZIMBABWE is on track towards clearing close to $2 billion debt to international finance bodies, which would facilitate access to fresh lines of credit to grow her economy, Finance Ministry Secretary W...

by Prosper Ndlovu

RBZ scraps Rand, Euro plan

11 May 2016 | 4690 Views
THE Reserve Bank of Zimbabwe (RBZ) has with immediate effect scrapped the apportionment of foreign exchange receipts into rand and euros and applied the five percent export incentive in US$ into autho...

by Prosper Ndlovu

RBZ update: Banks give in to pressure from exporters

10 May 2016 | 4908 Views
Zimbabwe's Reserve Bank on Tuesday abandoned plans to automatically convert export proceeds into the Rand and Euro currencies, the second tweak within a week of a major policy intervention, as it batt...

by Thobekile Zhou

Reserve Bank Of Zimbabwe on currency u-turn

10 May 2016 | 12714 Views
The Reserve Bank Of Zimbabwe (RBZ) has reportedly made a dramatic climb-down by abandoning automatic conversion of export proceeds into Rand, Euro.  RBZ last week announced introduction o...

by Thobekile Zhou

PDP Weekly Economic Brief - Introduction to a Social Market Economy

10 May 2016 | 2520 Views
Many times we are asked what our ideology as PDP is and we tell people that we are Social Democrats. Although popular, this term is at times not well understood. Social democracy has become popular wi...

by Vince Musewe

Bond notes trigger panic withdrawals

08 May 2016 | 4569 Views
THE two month time lapse between the Reserve Bank of Zimbabwe's announcement and expected release of bond notes into the market is likely to create panic withdrawals among the banking public while com...

by Staff reporter

Zimbabwe to print own version of US dollar

06 May 2016 | 8161 Views
Zimbabwe is set to print its own version of the US dollar in order to ease a cash shortage in the country.Central bank governor John Mangudya said the cash, known as bond notes, will be backed...

by BBC

Panic as Zimbabwe economy dies

06 May 2016 | 6685 Views
There is palpable fear that the country has plumped the depilating economy depths of 2007/2008 when shops were empty and inflation hit world record levels, resulting in untold pain and suffering f...

by Staff reporter

Cash crunch affects MFIs

06 May 2016 | 2387 Views
The prevailing cash crunch besetting the country has not spared micro finance institutions (MFIs) as clients are forgoing loan repayments, an official has said. Zimbabwe Association of Micro-finan...

by Staff reporter

'Bond notes good BUT . . !'

06 May 2016 | 5157 Views
ECONOMIC analysts say the proposed $200 million bond notes will offer a temporary relief to biting cash shortages in the country and pointed to an urgent need to address economic fundamentals that wil...

by Business Reporters

Economists speak on cash shortages in Zimbabwe

05 May 2016 | 4708 Views
The low uptake of the other legal tenders within the basket of currencies in favour of the greenback has put a lot of pressure on the United States dollar.Apart from the shunning of other curr...

by Staff Reporter

Investors wont easily come to Zimbabwe - SA envoy says

30 April 2016 | 5037 Views
Newly appointed South  Africa to Zimbabwe Ambassador Mphakama Mbete has said even though Zimbabwe is thirsty for development "it's not easy to get investors.""Zimbabwe is a country that i...

by Staff Reporter

Cash shortages persist in Zimbabwe

29 April 2016 | 4947 Views
Zimbabwe has been experiencing cash shortages for over a month and the central bank now hopes proceeds from tobacco will help ease the cash crunch, state media reported on Thursday.The latest ...

by Staff Reporter

Zimbabwe target BRICS for investment

28 April 2016 | 3145 Views
Government is targeting at attracting foreign direct investment from BRICS nations, Macro-economic Planning and Investment Promotion minister Obert Mpofu has said.To that end, investment roads...

by Thobekile Zhou

'Zimbabwean companies should focus on increasing trade'

28 April 2016 | 1878 Views
INDUSTRY and Commerce Minister Mike Bimha says Zimbabwean companies should focus on increasing trade as a strategy to achieve economic growth.Increased trade through export earnings is the hal...

by Oliver Kazunga

Industrialisation critical, says Mnangagwa

28 April 2016 | 2012 Views
VICE President Emmerson Mnangagwa says embracing a technologically-driven business model is critical if Zimbabwe is to achieve meaningful economic progress and make an impact in the global economy....

by Prosper Ndlovu

Cash crisis still critical

28 April 2016 | 3233 Views
THE cash supply situation remained critical in the country yesterday with workers failing to withdraw their salaries.This comes as parents and guardians also prepare for children to go back to...

by Nyemudzai Kakore

PDP weekly economic policy brief - Corruption is a curse which retards our development

27 April 2016 | 2094 Views
In our economic blue print, HOPE, we recognise the need to deal will corruption as a fundamental prerequisite not only to attract investors back to the country, but to ensure that public funds are app...

by Vince Musewe

'No power tariff hike'

25 April 2016 | 2680 Views
THE Ministry of Energy and Power Development has refuted reports over alleged approval of an electricity tariff hike by the power utility, Zesa. In a statement yesterday, the ministry said a r...

by Business Reporter

Cash shortages affect SMEs gold deliveries

25 April 2016 | 2669 Views
Small-scale miners sell their gold to Fidelity, but cash shortages have been impeding steps forwardTHE continued cash shortages at Fidelity Printers and Refiners are derailing efforts to encou...

by Staff reporter

Illicit financial flows worry Zimbabwe

23 April 2016 | 3253 Views
The Reserve Bank of Zimbabwe (RBZ) has called on accountants to help authorities in stamping out illicit financial flows which prejudiced the economy US$1,8 billion in 2015.Illicit financial f...

by Staff Reporter

Zimbabwe annual inflation sheds 0,09%

20 April 2016 | 2489 Views
Zimbabwe's annual inflation for March shed 0.09 percentage points to -2,31 percent as the country continues to be affected by weak aggregate demand and lower import costs following the strengthening o...

by Staff reporter

PDP Economic Policy Brief - Sustainable water management critical to development

19 April 2016 | 2503 Views
In our policy blueprint, HOPE, we recognise sustainable water management as one of the key economic enablers. There is no doubt that water plays a vital role in the social and economic de...

by PDP

US body predicts Zimbabwe economic growth in next 4 years

18 April 2016 | 4465 Views
ZIMBABWE'S mining sector could achieve significant growth during the period 2016 to 2020, driven by increased platinum and diamond production, the US-based International Business Monitor (IBM) has sai...

by Staff reporter

Strong US$ affects Zimbabwe exports

14 April 2016 | 2808 Views
A strong United States currency is adversely affecting Zimbabwean businesses as local products cannot compete in export markets, an expert said on Tuesday. Lighting products firm Eurolux regio...

by Staff reporter

Zimbabwe still printing money

13 April 2016 | 9243 Views
Former Finance minister Tendai Biti says government is illegally printing money in the form of Treasury Bills (TBs) to honour its debts.A TB is a short-term debt obligation backed by a governm...

by Staff reporter

Zimbabwe Stock Exchange loses $400 million

12 April 2016 | 2625 Views
The Zimbabwe Stock Exchange market capitalization contracted by 14 percent to $2.6 billion in the three months to March 2016 from $3.1 billion in December last year. Latest figures show th...

by Staff reporter

PDP Weekly Economic Policy Brief - From indigenisation to empowerment

12 April 2016 | 2344 Views
In his visit to South Africa in the 90's the late Lee Kuan Yew, the Singaporean leader who took a poor tiny war ravaged outpost to become a world class economic giant, could not have put it better. He...

by StVince Musewe

Banks driving away depositors, says Mangudya

08 April 2016 | 3790 Views
RESERVE Bank of Zimbabwe Governor Dr John Mangudya has accused banks of playing a part in driving away depositors through punitive bank charges for their service and products while they do not offer m...

by Golden Sibanda

$98.6 million broadband project approved

06 April 2016 | 3357 Views
THE National Assembly yesterday approved a $98,6 million loan facility for TelOne for backbone network and broadband access project that was negotiated between the government and the Export Import Ban...

by Zvamaida Murwira

RBZ acts on cash crunch

06 April 2016 | 4158 Views
THE Reserve Bank of Zimbabwe has enlisted support from Afreximbank to put in place a nostro and export support facility as part of efforts to mitigate the cash crisis in the economy. RBZ Governor Dr J...

by Golden Sibanda

Zimbabwe to get $819 million from Afreximbank

05 April 2016 | 2953 Views
The government says Afreximbank is set to avail US$819 million bridge facility for external arrears clearance while the bank has so far made available US$504 million since January for various sect...

by Staff reporter

We should not give Zanu PF more time to destroy economy

30 March 2016 | 3868 Views
The problems we face in Zimbabwe can never be resolved at the same level of thinking which created them in the first place.Zimbabwe is now one of Africa's poorest and most repressed economies ...

by Vince Musewe - PDP Secretary for Finance and Economic Affairs

Zimbabwe govt destroying the economy

30 March 2016 | 3671 Views
Zimbabwe government has been accused of accelerating economic collapse by discouraging investments in a "country already hard-hit by a debilitating liquidity squeeze."This comes as...

by Thobekile Zhou

Chinese blamed for stalling Zimbabwe's economic turnaround

27 March 2016 | 5411 Views
An insidious culture of dishonouring loan agreements has taken root in public and private enterprise and is now affecting Government inter-State economic partnerships.The latest victims of thi...

by Kuda Bwititi

'Zimbabwe named as one of Africa's poorest economies'

26 March 2016 | 4716 Views
Zimbabwe has remained one of the most repressed economies in the world in the past decade due to rampant corruption and government mismanagement, according to the latest Index of Economic Freedom....

by Staff reporter

PDP Weekly Economic Policy Brief

22 March 2016 | 1161 Views
This week under our HOPE series of articles, we look at the 5th economic enabler which is Industrialisation and Private Sector Development.At the outset, it is important that Zimbabweans in ge...

by Vince Musewe - PDP Secretary for Finance and Economic Affairs

Zimbabwe’s exports down 13%

21 March 2016 | 957 Views
Zimbabwe's main export goods are minerals and tobacco and there are constant calls to expedite value addition and beneficiation in order to diverse the basket and in the process reduce shocks associat...

by Staff reporter

Zimbabwe expecting $984 million IMF loan in 3rd quarter

17 March 2016 | 1743 Views
Zimbabwe expects a loan from the International Monetary Fund in the third quarter of this year, the first since 1999, the central bank governor said yesterday.Dr John Mangudya said the IMF...

by Staff reporter

Reserve Bank of Zimbabwe pushes for cashless economy

16 March 2016 | 5574 Views
The Reserve Bank of Zimbabwe is confident of increasing plastic money usage to 80 percent from the current 20 percent in the next five years as the fiscal authorities push for a cashless economy....

by staff Reporter
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