Business / Economy
Zimbabwe government defies calls to abandon Zimdollar as it continues to lose value
Inflation in Zimbabwe is currently at 75%, and is expected to rise even higher in the coming months. This is due in part to the government's decision ...Published: 19 May 2023 at 08:41hrs | 1901 | by Staff Reporter
Zimbabwe hosts fourth Structured Dialogue Platform on arrears clearance and debt resolution process
Zimbabwe has concluded a fourth Structured Dialogue Platform meeting on debt clearance with creditors and development partners.Government and ...Published: 15 May 2023 at 11:09hrs | 211 | by APO
AfDB facilitates 3rd Structured Dialogue Platform meeting in Harare on Zimbabwe Arrears Clearance and Debt Resolution process
HARARE - Zimbabwe moved closer to resolving its debt issues last week as it hosted the third debt and ar...Published: 04 Apr 2023 at 18:18hrs | 299 | by APO
Mangudya warns against forex loans
In a situation where there is little foreign currency in the market despite the banking sector having US$2,5 billion in nostro deposits, Reserve Bank ...Published: 12 Mar 2023 at 06:37hrs | 4803 | by Staff Reporter
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...Published: 02 Feb 2023 at 22:58hrs | 1348 | by Staff Reporter
ZERA Raises Fuel Prices
Zimbabwe Energy Regulatory Authority (ZERA) has raised fuel prices in its latest review, which is effective January 26, 2023.In a statement se...Published: 27 Jan 2023 at 10:36hrs | 1911 | by Tarisai Mudahondo
Zimdollar loses grip against USD
THE local dollar lost its grip against the United States dollar at the Reserve Bank of Zimbabwe (RBZ)'s auction system, which resumed on Tuesday with ...Published: 12 Jan 2023 at 07:38hrs | 2166 | by Staff Reporter
Zimbabwe miners in urgent plea for forex
THE Chamber of Mines of Zimbabwe says it is engaging authorities to come up with mechanisms that can accommodate the foreign currency requirements for...Published: 24 Nov 2022 at 04:59hrs | 546 | by Staff reporter
Zimbabwe to manufacture lithium batteries
Zimbabwe plans to manufacture lithium batteries and has since struck an agreement with a potential investor willing to set up a plant, Mines and Minin...Published: 16 Oct 2022 at 15:40hrs | 3315 | by Staff reporter
Zimbabwean dollar gaining value
Parallel market exchange rate responds to RBZ measuresTREASURY has been hailed for tightening screws on money supply growth in the market, in ...Published: 09 Aug 2022 at 17:57hrs | 35039 | by Staff Reporter
Currency Crimes: Four banks to face the music
FOUR banks have been placed under intense scrutiny and will face stiff penalties from the Financial Intelligence Unit (FIU) over allegations of involv...Published: 08 Jun 2022 at 07:29hrs | 5516 | by Staff Reporter
Bank lending freeze targets big corporates enjoying 'arbitrage profits'
HARARE - The Zimbabwe government is clamping down on big corporates which borrowed billions in Zimbabwean dollars and allegedly used the money for spe...Published: 13 May 2022 at 14:50hrs | 1485 | by Staff Reporter
IMF applauds Zimbabwe on meeting NDS1 targets
THE International Monetary Fund (IMF) has applauded Zimbabwe for meeting the National Development Strategy (NDS1). This is revealed in th...Published: 18 Apr 2022 at 12:32hrs | 836 | by Stephen Jakes
Mining sector key to Zim economy: Zimcodd
The mining sector is a key sector for Zimbabwe as it contributes about 60% to annual export receipts and at least 14% to Gross Domestic Product (GDP)....Published: 16 Mar 2022 at 11:30hrs | 278 | by Stephen Jakes
Zimbabwe strikes diamond in Europe
Zimbabwe has the potential to produce diamonds worth US$5 billion annually, leading investors who are coming into the country- with more than 500 year...Published: 19 Feb 2022 at 08:26hrs | 3436 | by Staff Reporter
Zimbabwe government looks to own digital currency, not crypto
As digital currencies expand and become mainstream and normalised, it is not going to be unusual to find governments around the world considering the ...Published: 17 Dec 2021 at 11:53hrs | 2232 | by Staff Reporter
Positive growth visible, says Mthuli
The economy is on a robust growth and development trajectory, with major sectors performing above projected levels despite the existence of a number o...Published: 29 Oct 2021 at 09:07hrs | 137 | by Staff Reporter
Monthly inflation rate surges to 6,4%
Zimbabwe's month-on-month inflation for October 2021 climbed to 6,4 percent, its highest level since August 2020 when it touched its highest point of ...Published: 27 Oct 2021 at 22:14hrs | 53 | by Business Reporter
Pre-training on new border traffic flow gathers momentum
The training of border agencies at Beitbridge Border Post has gathered moment as the Government prepares to open the newly built commercial freight te...Published: 26 Sep 2021 at 10:12hrs | 65 | by Staff Reporter
Naming, shaming, SI 127 key for market discipline
NAMING, shaming and imposing heavy penalties against entities caught abusing funds obtained from the auction will reinforce the platform's role as the...Published: 13 Jul 2021 at 08:53hrs | 17 | by Staff Reporter
RBZ introduces new ZW$50 note
The Reserve Bank of Zimbabwe (the Bank) wishes to advise the public that the ZW$50 banknote issued on 6 July 2021 through Statutory Instrument 196 of ...Published: 06 Jul 2021 at 15:48hrs | 150 | by Staff Reporter
Econet launches revamped 'YoMix' app with rich, new features for wider customer base
Econet Wireless - Zimbabwe's largest mobile network operator by customer base and network coverage - has re-launched its popular YoMix mobile ap...Published: 27 Jun 2021 at 21:14hrs | 16 | by Agencies
How blockchain is transforming Zimbabwe's economy
Zimbabwe is perhaps the first example that comes to anyone's mind when they think of failed states or economies. The country has been regularly making...Published: 28 Apr 2021 at 18:33hrs | 42 | by Staff writer
Esigodini villagers exposed to disused pits
ESIGODINI villagers in Umzingwane district, Matabeleland South province, have expressed concern over numerous disused pits left by gold panners, espec...Published: 22 Apr 2021 at 06:21hrs | 8 | by Staff reporter
TelOne lays off 184 digitally-handicapped workers
State-owned telecommunications company, TelOne, has retrenched more than 180 workers whose qualifications it says did not meet the standard for its ev...Published: 22 Apr 2021 at 06:20hrs | 22 | by Staff reporter
Mthuli sticks to 7,4% growth
FINANCE minister Mthuli Ncube is sticking to his economic growth forecast of 7,4% for this year, just days after President Emmerson Mnangagwa said Zim...Published: 22 Apr 2021 at 06:19hrs | 111 | by Staff reporter
Prof Steve Hanke's no hyperinflation in Zim comment angers Biti
MDC Alliance Vice President, Tendai Biti, leading that party's Economic Portfolio is this week set to meet representatives of the US Embassy in Harare...Published: 11 Oct 2020 at 08:07hrs | 118 | by David Mwanza
Zimbabwe targets 75% industry capacity
GOVERNMENT is targeting to increase manufacturing capacity utilisation from an average of 40 percent in 2019 to 75 percent by 2023 while US$2 billion ...Published: 09 Oct 2020 at 08:26hrs | 15 | by Staff Reporter
Zimdollar continues to trade within range of cash parallel rates
The local currency added a marginal 0.11715% after it firmed up against the dollar in the latest auction as it continues to reposition itself in the w...Published: 06 Oct 2020 at 20:22hrs | 13 | by Staff reporter
Steward Bank launches new product to support agriculture
Steward Bank has partnered with businesses under parent company Cassava Smartech Zimbabwe to launch AgroFuture, a new agribusiness product that is set...Published: 01 Oct 2020 at 10:02hrs | 13 | by Agencies
Finance 2019 Mid Year Fiscal Review - Summary
Finance 2019 Mid Year Fiscal Review...Published: 01 Aug 2019 at 14:51hrs | 5793 | by Staff Reporter
WATCH: 'Nothing has changed,' says Mthuli Ncube
Finance and Economic Development Minister Mthuli Ncube has said nothing has changed, the RTGS$ remains the local currency....Published: 24 Jun 2019 at 20:40hrs | 8090 | by Staff Reporter
Zimbabwe, UK firm partnership to boost local capital markets
ZIMBABWE'S capital markets, which have been confining investors to limited options as chronic challenges buffeting the imploding economy ate into comp...Published: 23 Jun 2019 at 17:28hrs | 1196 | by Staff Reporter
Rising demand pushes the ZSE
The Zimbabwe Stock Exchange (ZSE) climbed significantly during the week ended June 14 2019, on rising demand across the board. The market recorded gai...Published: 16 Jun 2019 at 09:43hrs | 923 | by Fungai Nyaungwa
RTGS$ plunges
Zimbabwe is nearing the much dreaded economic horrors of 2008 punctuated by hyperinflation, widespread shortages of foreign currency and fuel coupled ...Published: 21 Apr 2019 at 08:55hrs | 9888 | by Staff reporter
Zimbabwe trade registers $44,2m deficit
ZIMBABWE'S trade opened the year in the negative, registering a $44,2 million deficit in January, latest data from the statistics agency has shown....Published: 14 Mar 2019 at 05:28hrs | 1294 | by Staff Reporter
Tobacco to increase foreign currency inflows
Foreign currency inflows into the country are set to improve next month, with the Tobacco Industry and Marketing Board (TIMB) having indicated that th...Published: 02 Mar 2019 at 10:03hrs | 1697 | by Staff Reporter
How to Choose the Best Forex Broker for Beginners
The Forex market is one of the largest financial markets in the world. It offers 24 hours trading with a turnover of trillions of dollars a day. The c...Published: 20 Feb 2019 at 11:28hrs | 1672 | by Staff Reporter
Zimbabwe, SA in financial package talks
ZIMBABWE and South Africa are still locked in crucial talks over a financial package for Harare to help the country clear its arrears to international...Published: 27 Jan 2019 at 11:02hrs | 13452 | by Staff Reporter
Government targets reduction of tax burden by 2021
Government says Zimbabweans should expect reduction of the tax burden by 2021 as Treasury seeks to address challenges that led to the country experien...Published: 13 Jan 2019 at 18:34hrs | 1648 | by Staff Reporter
Zimbabwe to have own currency in 12 months
Finance and Economic Development Minister Professor Mthuli Ncube yesterday said the country will have its own currency within the next 12 months, as G...Published: 12 Jan 2019 at 11:18hrs | 4729 | by Staff Reporter
Zimbabweans not highly taxed - Zimra
The Zimbabwe Revenue Authority (Zimra) says Zimbabweans are not highly taxed as claimed by some sections of society. Most of these taxes compa...Published: 27 Dec 2018 at 08:57hrs | 3189 | by Staff Reporter
Zimbabwe moving towards dollarisation - Economists
Economists have warned government over the continued usage of bond notes as a medium of exchange saying the surrogate currency is at risk of facing re...Published: 25 Dec 2018 at 15:35hrs | 15684 | by Daily News
MPs say 'Yes' to Mthuli Ncube's 2% tax
The 2019 National Budget sailed through the National Assembly on Thursday with legislators adopting the two percent intermediated tax which was one of...Published: 25 Dec 2018 at 08:00hrs | 2468 | by Staff Reporter
IMF backs Mnangagwa's economic plan
The International Monetary Fund (IMF) has been bowled over by President Emmerson Mnangagwa's current economic plan, which has already seen Treasury re...Published: 16 Dec 2018 at 09:56hrs | 2570 | by The Sunday Mail
WATCH: Zimbabwe is the biggest buy in Africa, Mthuli Ncube tells CNN
“For the new #Zimbabwe, we are focused on economic revival for prosperity for Zimbabwe citizens and investors. #Zimbabwe assets are the bigges...Published: 06 Dec 2018 at 00:27hrs | 3826 | by Staff Reporter
Mthuli Ncube's TSP creditor positive and transformative for Zimbabwe economy - Moody's
Moody's ranks Zimbabwe Finance Minister Mthuli Ncube's Transitional Stabilisation Programme (TSP) as creditor positive and transformative for Zimbabwe...Published: 04 Dec 2018 at 20:48hrs | 5011 | by Agencies
More exemptions on Mthuli Ncube's 2% tax
TREASURY has proposed further exemptions to the Intermediated Money Transfer Tax of two cents per dollar transacted following widespread stakeholder c...Published: 28 Nov 2018 at 07:10hrs | 7642 | by Staff Reporter
Zimbabwe the 2019 budget speech
Zimbabwe the 2019 budget speech...Published: 22 Nov 2018 at 15:57hrs | 4718 | by Staff Reporter
Excellent progress on Zimbabwe fiscal budget deficit reduction.
In the month of September 2018, the fiscal budget was balanced and the deficit was almost zeroProfessor Mthuli Ncube, Zimbabwe Minister of Fin...Published: 09 Nov 2018 at 21:46hrs | 4224 | by Ndou Paul
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