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Zimbabwe, Russia sign mining equipment agreement

Zimbabwe and Russia have signed a Memorandum of Understanding for the supply of mining equipment to the Southern African country.The signing took place during the Ministerial Segment of th...Read more

Zimbabwe, Russia sign mining equipment agreement

15 September 2014 | 1113 Views
Zimbabwe and Russia have signed a Memorandum of Understanding for the supply of mining equipment to the Southern African country.The signing took place during the Ministerial Segment of th...

by Staff reporter

ZFTU criticises fiscal policy review

13 September 2014 | 1470 Views
A labour representative body has called on the government to extensively consult before making key national decisions.Commenting on the recently announced Mid-Term Fiscal Policy Review stateme...

by Staff Reporter

Econet to partner Zimbabwe govt to improve economy

12 September 2014 | 3501 Views
Econet Zimbabwe is prepared to work with Government in stimulating economic revival through spearheading investments that develops infrastructure and creation of jobs. The company express...

by Staff reporter

Zimbabwe's external debt to hit $7.2 billion

12 September 2014 | 662 Views
Zimbabwe's external debt will hit $7, 2 billion by December this year, according to government projections. Chinamasa said in the midterm fiscal policy debt distress has continued to undermine...

by Staff reporter

Chinese insurer coming to Zimbabwe

12 September 2014 | 1553 Views
Officials from the Chinese export credit insurance agency, China Export and Credit Insurance Corporation (Sinosure) are expected in the country next week to finalise negotiations for lending to th...

by Staff reporter

Govt to offload $1,3 billion RBZ debt on taxpayers

12 September 2014 | 1341 Views
The government is working on modalities to make taxpayers fund the $1,35 billion debt raked up by the Reserve Bank of Zimbabwe during the hyper inflationary period of the Zim dollar era.Ev...

by Staff Reporter

Zimbabwe introduces 5% duty on airtime, 25% duty on mobile phone handsets

11 September 2014 | 7225 Views
Finance Minister Patrick Chinamasa has said that he will levy excise duty of 5% on air time for voice and data with effect from September 15. Chinamsa said customs duty at 25% on mobile hands...

by Staff reporter

Zimbabwe pays almost R2 billion to service Chinese loans

10 September 2014 | 2578 Views
Zimbabwe has spent $180m (about R2bn) in unbudgeted expenditure to service outstanding loans from China in an effort to improve relations and encourage new financial support, Finance Minister Patrick ...

by Reuters

Zimbabwe's economic competitiveness tumbles

08 September 2014 | 895 Views
The country needs to move mountains to ensure that the local economy is globally competitive if the report released last week by World Economic Forum (WEF), which saw Zimbabwe's ranking dropping t...

by Staff reporter

Chinamasa clueless on industries revival

08 September 2014 | 1561 Views
Finance minister Patrick Chinamasa has revealed he is clueless on how to bring life to ailing Bulawayo industries having discovered that there is absolutely nothing remaining of what used to be an...

by Staff reporter

China to help Zimbabwe build economic zones

05 September 2014 | 3056 Views
Harare - China will help Zimbabwe build special economic zones and industrial parks to jump-start exports and a struggling economy, its ambassador to Harare said on Thursday as a Chinese firm starte...

by Staff Reporter

Zimbabwe toughens import measures

04 September 2014 | 5868 Views
Zimbabwe has widened the number of goods that require import licences for import into the country as government moves to protect local industry following an insurmountable proliferation of imports fr...

by Staff reporter

'Zimdollar return suicidal,' says RBZ boss

29 August 2014 | 4704 Views
Government should not reintroduce the Zimbabwe dollar as this amounts to economic suicide, central bank boss John Mangudya warned.In his maiden mid-term monetary policy statement presentation ...

by Taurai Mangudhla

RBZ rules out return of Zimdollar

27 August 2014 | 3495 Views
Zimbabwe will continue using multiple foreign currencies for the foreseeable future until production levels have increased, the central bank has said.This comes as various stakeholders in the ...

by Staff reporter

Zimbabwe to import special coins to ease shortages

26 August 2014 | 5807 Views
THE Reserve Bank of Zimbabwe (RBZ) said Monday it would import special coins with similar value to those currently circulating in the economy to ease a shortage of change in the economy.Zimbab...

by Staff Reporter I Agencies

Ditching US$ could spark unrest in Zimbabwe

25 August 2014 | 3932 Views
THE Bankers Association of Zimbabwe has urged the government to maintain the multi-currency regime warning that a premature return of the local currency could trigger an economic collapse and poss...

by Staff reporter

Zimbabwe mulls domestic processing industry

23 August 2014 | 1355 Views
Government should put an end to exports of raw materials as a first step in establishing domestic processing industries that will dramatically boost revenue from sales of finished products, hike t...

by Staff reporter

Zimbabwe to promote local assembly of vehicles

11 August 2014 | 5228 Views
ZIMBABWE is to push through a policy promoting the importation of knocked-down vehicle kits and impose higher tariffs on imported vehicles, which are shipped mostly through South Africa and Namibia....

by Tawanda Karombo

Zimbabwe plans could dent South Africa exports

11 August 2014 | 7163 Views
Plans by Zimbabwe to drive a policy promoting vehicle assembly through the importation of knocked-down kits and the imposition of higher tariffs on imported vehicles will significantly dent exports by...

by Roy Cokayne

'Sanctions are hurting Zimbabwe startups,' Obama told

06 August 2014 | 4023 Views
In a rare one-on-one stage interview he held with US president Barack Obama, Zimbabwean technology entrepreneur, Takunda Chingonzo, told Obama that the supposedly targeted sanctions against some polit...

by Staff reporter

Zimbabwe bread sales decline by half

06 August 2014 | 4112 Views
Bread sales have dropped by more than half from a maximum of 1.5 million loaves a day to 700 000 per day as a result of the liquidity crunch and high production costs. The Grain Millers As...

by Staff reporter

'Zimbabwe will soon run out of money,' says Bankers

05 August 2014 | 6965 Views
Bankers Association of Zimbabwe (Baz) has warned that Zimbabwe will soon run out of money to sustain imports.Joseph Mverecha, Agribank divisional director, speaking on behalf of Baz president...

by Staff reporter

Banks against Zimdollar return

03 August 2014 | 3848 Views
THE Bankers Association of Zimbabwe (BAZ) says it is imperative for Government to retain the multi-currency trading regime to maintain price stability as well as to strengthen the banking sector for o...

by Dumisani Nsingo

Zimbabwe diamond finances, US targets German bank

03 August 2014 | 2186 Views
The United States has placed a German financial institution under strict surveillance for clearing payments for Zimbabwe's diamonds at the recent Dubai diamond tender, state media reported Sunday....

by APA

Zimbabwe still has a lot of diamond reserves

03 August 2014 | 3014 Views
Manicaland Provincial Affairs minister Christopher Mushohwe says the country still has a lot of diamond reserves in Marange, quelling speculation the precious mineral was running out.Delegates...

by Staff reporter

ZimTrade to host Exporters' Conference and Awards

29 July 2014 | 1484 Views
ZimTrade will be hosting its Annual Exporters' Conference and Exporter of the Year Awards on 30 September 2014 at the Meikles Hotel, Harare.The 2014 Conference will be held under the theme: "C...

by Staff reporter

Govt won't stop Zimra tax raids

29 July 2014 | 2060 Views
Finance Minister Patrick Chinamasa said Zimra will continue issuing garnishee orders to companies that evade tax. He told Parliament last week that Zimra's mandate is tax collection and th...

by Staff reporter

Zimbabwe downgrades 2014 economic outlook

24 July 2014 | 1459 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 | 1625 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 | 6019 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 | 1778 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 | 1665 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 | 2115 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 | 2059 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 | 2068 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 | 1336 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 | 2768 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 | 1513 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 | 2704 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 | 2139 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 | 3445 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 | 1697 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 | 3263 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 | 2370 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 | 5418 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 | 2986 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 | 2969 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 | 2991 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 | 1931 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 | 2580 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
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