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Another plan to rescue Zimdollar
ZIMBABWE is considering overhauling its exchangerate regime as the government seeks new measures to save its beleaguered currency.The latest proposals will be in a monetary policy statement th...Published: 11 Feb 2024 at 21:07hrs | 1049 | by Staff reporter
Zimbabwe forex policy chokes exporters
LISTED agricultural concern Ariston Holdings says the 25% export retention coupled with the huge disparity between the interbank exchange rate and the fair market rate used by suppliers is making some...Published: 31 Jan 2024 at 06:59hrs | 452 | by Staff reporter
Drones and fast cargo scanners deployed at the Beitbridge Border Post
Drones and fast cargo scanners have been deployed by the Government at the Beitbridge Border Post as it intensifies the use of modern technologies to curb invasive leakages and smuggling through ports...Published: 26 Jan 2024 at 04:38hrs | 419 | by Staff reporter
Zimbabwe gold output declines 15%
Zimbabwe produced 30 metric tons of gold in 2023, 15% less than the previous year, official data showed on Monday, as electricity cuts and currency volatility impacted output.The southern Afri...Published: 10 Jan 2024 at 17:47hrs | 220 | by Staff reporter
Russian free grain due to begin landing in Africa within days
RUSSIAN shipments of donated grain are due to begin landing in Africa within days, giving fresh impetus to its bid to bolster its influence in the continent.President Vladimir Putin promised t...Published: 28 Nov 2023 at 07:53hrs | 454 | by Staff reporter
EU blocks Zimbabwe fertiliser consignment
The European Union (EU) has halted the delivery of approximately 23,000 tonnes of fertiliser donated by Russia to Zimbabwe, as part of its broader blockade on Russian agricultural exports in response ...Published: 29 Oct 2023 at 12:27hrs | 430 | by Staff reporter
Stanbic Bank Zimbabwe launches China export guide for local business
Stanbic Bank Zimbabwe on Friday launched an export guide for Zimbabwean exporters and business entities seeking to understand and penetrate the Chinese market.The export guide e-book, which gi...Published: 22 Oct 2023 at 14:17hrs | 126 | by Staff reporter
Zimra struggling to clear long queues at Forbes Border Post
The Zimbabwe Revenue Authority (Zimra) has been struggling to address the long queues that have emerged at the Forbes Border Post in Mutare during the past week due to a road traffic accident at the e...Published: 12 Oct 2023 at 06:34hrs | 250 | by Staff reporter
Zimbabwe govt maintains tight monetary, fiscal measures
GOVERNMENT yesterday said it would continue with the tight fiscal and monetary policy measures that include increasing the retention on domestic foreign currency sales to 100%, among others.Ac...Published: 08 Sep 2023 at 06:31hrs | 201 | by Staff reporter
Zimbabwe targeting Zimdollar return in 5 years
Zimbabwe will continue to put in place measures to entrench the use of the domestic currency because having its own currency forms the basis for sustainable economic growth and development, President ...Published: 06 Sep 2023 at 19:09hrs | 653 | by Staff reporter
'Zimbabwe to record biggest inflation decline'
Zimbabwe is expected to record the biggest fall in inflation in the southern African region next year, according to the latest report by the African Development Bank (AfDB).This is largely due...Published: 04 Aug 2023 at 06:37hrs | 19 | by Staff reporter
Chinese miner compensates Buhera North villagers
LITHIUM mine, Sabi Star Mine (Sabi) has transformed Buhera North, upgrading roads, schools' as well as employing hundreds of villagers from Mukwasi and Tagarira villages.Sabi, which is partly ...Published: 24 Jul 2023 at 10:51hrs | 19 | by Staff reporter
Zimbabwe industrial power users to raise $250 million for floating solar panels
Zimbabwe's industrial electricity consumers and exporters aim to raise $250 million to build the first phase of floating solar panels on the world's largest man-made lake.Members of the Intens...Published: 05 Jul 2023 at 18:11hrs | 14 | by Staff reporter
Why Mnangagwa blocked Mthuli Ncube's export tax
PRESIDENT Emmerson Mnangagwa recently blocked Finance minister Mthuli Ncube's 10% tax on mining exports to pay arrears on the country's debt overhang - which makes it difficult for the government to b...Published: 02 Jul 2023 at 17:27hrs | 19 | by Staff reporter
Forex rate premium falls
THE parallel market exchange rate premium has fallen below 50 percent, as policy interventions by the Government continue to drive appreciation of the Zimbabwe dollar, but pockets of resistance remain...Published: 02 Jul 2023 at 07:37hrs | 13 | by Staff reporter
Why Mnangagwa failed to improve Zim's economic prospects
IT is now more than five years since President Emmerson Mnangagwa assumed power with a mandate from his backers to improve the country's economic fortunes, the nemesis of his predecessor, Robert Gabri...Published: 29 Jun 2023 at 06:29hrs | 15 | by Martin Majaji
Border traffic clears as South Africa fixes system
Transporters of commercial cargo who have been experiencing long delays at the Beitbridge Border Post following a technical glitch on the South African side, were eventually cleared yesterday after th...Published: 27 Jun 2023 at 06:37hrs | | by Staff reporter
Cargo delays as SARS system experiences technical glitches
Long distance truck drivers are delays at the Beitbridge Border Post where the South African Revenue Services (SARS) are experiencing glitches in their online customs clearance system.Slow mov...Published: 26 Jun 2023 at 19:34hrs | | by Staff reporter
'Zimdollar will never die'
ZIMNAT Asset Management says the Zimbabwe dollar, which has lost 99% of its value since it was reintroduced in 2019, will not collapse, but rather get relegated to low value transactions.At th...Published: 21 Jun 2023 at 06:24hrs | 19 | by Staff reporter
Beitbridge Border Post automation a game-changer, says Mthuli Ncube
THE automation of services and the implementation of traffic separation at the Beitbridge Border Post have ushered in a new era of efficiency at Zimbabwe's busiest port of entry. Professor Mthuli Ncub...Published: 17 Jun 2023 at 08:05hrs | 6 | by Staff reporter
Mnangagwa's govt told to introduce higher denomination banknotes
GOVERNMENT has been urged to issue banknotes with higher denominations to make it easier for people to transact.Currently, the $100 note is the highest banknote in the country, but it has been...Published: 16 Jun 2023 at 07:58hrs | 5 | by Staff reporter
Zimdollar on the verge of complete rejection
THE Zimbabwe dollar, which was reintroduced by the Reserve Bank of Zimbabwe (RBZ) in 2019, is on the verge of collapse and complete market rejection.The local unit is incessantly plummeting ag...Published: 16 Jun 2023 at 07:54hrs | 7 | by Zimbabwe Coalition on Debt and Development
ZESA pays coal suppliers in forex
ZESA Holdings is now paying coal suppliers in foreign currency, a development expected to ensure smooth supply of the commodity to the expanded Hwange thermal power station.The Coal Producers ...Published: 15 Jun 2023 at 06:41hrs | | by Staff reporter
Zimdollar rescue mission too late
THE surprise move by Zimbabwe's fiscal and monetary authorities to liberalise the foreign exchange policy after months of shillyshallying amid a fixed rate could be a case of closing the stable door a...Published: 12 Jun 2023 at 06:45hrs | 20 | by Staff reporter
'RBZ directive to trigger more power cuts'
EXPERTS have warned of more power outages after the central bank ordered non-exporters to settle their energy bills in Zimbabwean dollars in a bid to keep the under-fire local currency relevant....Published: 09 Jun 2023 at 06:33hrs | 1 | by Staff reporter
Zimdollar's black month
THE official auction and interbank exchange rates rose by about 100% and 150%, respectively, last month marking a significant depreciation of the Zimbabwe dollar, a new report has found.At the...Published: 05 Jun 2023 at 06:53hrs | 7 | by Staff reporter
Banks scale back Zimbabwe dollar lending
BANKS have significantly reduced lending in the local currency ever since monetary authorities hiked interest rates last year to prevent rent-seeking behaviour by individuals and corporates, Reserve B...Published: 04 Jun 2023 at 08:29hrs | 1 | by Staff reporter
Zimdollar in spectacular crash
THE Zimbabwe dollar crashed by a whopping 60% against the United States dollar in May alone, underlining a raging economic crisis that has wiped salaries and sent prices soaring.Zimbabwe's eco...Published: 02 Jun 2023 at 06:48hrs | 2 | by Staff reporter
Mangudya rules out dollarisation
RESERVE Bank of Zimbabwe (RBZ) governor John Mangudya yesterday claimed that past experiences, rather than basic economic issues, were to blame for the country's exchange rate volatility, as he ruled ...Published: 02 Jun 2023 at 06:46hrs | 1 | by Staff reporter
'Zimbabwe has no capacity for full dollarisation'
RESERVE Bank of Zimbabwe (RBZ) Governor, Dr John Mangudya, has urged Zimbabweans to embrace the local currency saying the country has no capacity to sustain a fully dollarised economy.While th...Published: 02 Jun 2023 at 06:42hrs | 3 | by Staff reporter
RBZ clarifies new forex surrender policy
THE Reserve Bank of Zimbabwe (RBZ) is set to meet with the Bankers Association of Zimbabwe (BAZ) and Accountant General with a view to map the way forward on the use of foreign exchange from the 25 pe...Published: 02 Jun 2023 at 06:40hrs | 2 | by Staff reporter
Mthuli Ncube banks on new currency measures
Finance minister Mthuli Ncube on Monday announced new measures to encourage the use of the Zimbabwe dollar as opposed to the U.S. dollar, in a bid to boost the local unit and tame rising consumer infl...Published: 30 May 2023 at 15:10hrs | 5 | by Staff reporter
Mthuli Ncube announces policy measures to stabilize the economy
The Minister of Finance and Economic Development, Professor Mthuli Ncube, has announced policy measures which are meant to stabilize the local currency and stimulate the economy.The measures w...Published: 30 May 2023 at 11:50hrs | 6 | by Staff reporter
Anger mounts in Zimbabwe as prices rocket
ZIMBABWE'S currency further crashed this week, precipitating waves of basic commodity price hikes, which were slammed by consumer watchdogs.In a survey, the Zimbabwe Independent found that man...Published: 19 May 2023 at 20:42hrs | 5 | by Staff reporter
Ncube frets over runaway forex rate
FINANCE minister Mthuli Ncube this week threatened to hike Zimbabwe's policy rate beyond 200%, if companies continue to dabble into parallel market activities.The Treasury chief, who spoke dur...Published: 28 Apr 2023 at 07:04hrs | 23 | by Staff reporter
Sanctions mongers return to ZITF
THE UK and US are keen on working with Zimbabwe as they are exhibiting at the Zimbabwe International Trade Fair (ZITF) for the first time in many years.Both countries hailed the Second Republi...Published: 27 Apr 2023 at 06:26hrs | 33 | by Staff reporter
Beitbridge quarantine centre opens
The Beitbridge Border Post plant and animal quarantine centre is now operational. The facility is part of the US$300 million Beitbridge Border Post modernisation project, which is being undertaken by ...Published: 14 Apr 2023 at 00:01hrs | 12 | by Staff Reporter
FULL TEXT: Jonathan Moyo statement on Gold Mafia
Now that three of its four episodes have been – and notwithstanding the fact that the fourth episode might have bombshells in the form of controversial or shocking utterances by its main interlocuto...Published: 13 Apr 2023 at 08:56hrs | 6 | by Jonathan Moyo
Old Mutual deploys US$108 million worth of loans in Zimbabwe
Zimbabwe's largest financial services group, Old Mutual Zimbabwe, has deployed US$108m loans to different sectors of the economy.The deployment was done by the group's banking unit, CABS, CEO ...Published: 08 Apr 2023 at 18:36hrs | 18 | by Staff reporter
IDBZ seeks US$1,5bn for infrastructure gaps
THE Infrastructure Development Bank of Zimbabwe (IDBZ) has revealed that it requires US$1,5 billion funding to plug the country's "vast" infrastructure deficit.The announcement comes as the go...Published: 03 Apr 2023 at 06:30hrs | 1 | by Staff reporter
Looting fears mount in Zimbabwe
ZIMBABWE'S gold markets were overrun this week by fears that the recently announced steep increase of 400% in gold dealing licence fees would result in a sharp rise in smuggling of the precious ...Published: 24 Mar 2023 at 06:29hrs | 10 | by Staff reporter
Imports only occupy 20% shelf space in Zimbabwe?
IMPORTED products have been reduced to 20% on local retail shelves after the government introduced the import substitution policy, a senior government official has claimed.Government promulgat...Published: 15 Mar 2023 at 06:43hrs | 1 | by Staff reporter
Inflation triggers food shortages in Britain
Britain has been hit by a massive food shortage that has been triggered by a combination of factors that include inflation and a biting energy crisis. According to reports from British media t...Published: 04 Mar 2023 at 07:57hrs | 1 | by Staff reporter
US demands Mnangagwa halt PVOs Bill
THE United States yesterday pressured government to halt its controversial Private Voluntary Organisations (PVOs) Amendment Bill, widely viewed as oppressive and meant to weaken democratic space ahead...Published: 03 Mar 2023 at 06:29hrs | | by Staff reporter
Mnangagwa's govt rejects ZESA tariff plan
The Reserve Bank of Zimbabwe (RBZ) has shot down a proposal by ZESA Holdings for businesses to wholly pay electricity tariff in United States dollar following the government's policy to align tariff p...Published: 24 Feb 2023 at 07:44hrs | 13 | by Staff reporter
Fresh moves to promote use of Zimdollars
GOVERNMENT will enhance tax collections in local currency and maintain interest rates at par with inflation to promote the use of the Zimbabwe dollar in local transactions, Treasury has said.A...Published: 12 Feb 2023 at 07:35hrs | 5 | by Staff reporter
Zimbabwe starts stockpiling lithium, says Mnangagwa
Zimbabwe has to do more than ban export of lithium and other ores, insisting on processing locally before export, but now needs focused research and development towards transforming ores into domestic...Published: 05 Feb 2023 at 23:40hrs | 8 | by Staff Reporter
Afri-USA Initiative to launch Mat North Investment guide
The Afri-USA Business Initiative is set to launch the Matebeleland North Investment Guide which is an investment handbook targeting investors in the United States of America and Europe.The Pre...Published: 03 Feb 2023 at 07:39hrs | 7 | by Mandla Ndlovu
Reserve Bank slashes lending rates, increases forex retention
THE Reserve Bank of Zimbabwe (RBZ) has trimmed its bank policy rate to 150 percent from 200 percent per annum and increased foreign currency retention thresholds for exporters on domestic sales while ...Published: 02 Feb 2023 at 22:58hrs | 23 | by Staff Reporter
Government policy destroying the formal economy
Policy missteps and inconsistency has turned the Zimbabwean economy on its head against the formal sector, posing a threat to business continuity, domestic resource mobilization and formal employment....Published: 16 Dec 2022 at 00:06hrs | 10 | by Victor Bhoroma
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