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OK Zimbabwe earmarks 50% of capital raise to clear debts
Retail giant OK Zimbabwe Limited has announced plans to allocate more than half of the proceeds from its planned US$30.5 million capital raise - through a rights issue and property disposals - toward ...Published: 30 Jun 2025 at 13:12hrs | 174 | by Staff reporter
ZB Bank secures US$5 million Afreximbank facility
ZB Bank Limited has secured a US$5 million loan facility from the African Export-Import Bank (Afreximbank), aimed at supporting small and medium enterprises (SMEs) in Zimbabwe, particularly those enga...Published: 30 Jun 2025 at 13:07hrs | 126 | by Staff reporter
Herbert Nkala to exit OK Zimbabwe in restructuring move
OK Zimbabwe has announced a major leadership reshuffle and a US$30.5 million capital-raising initiative aimed at stabilising operations and restoring market confidence, as the retail giant battles int...Published: 29 Jun 2025 at 11:17hrs | 214 | by Staff reporter
'Where are the cancer machines?' asks Khupe
Opposition Member of Parliament Thokozani Khupe has demanded a full disclosure from Finance Minister Mthuli Ncube on how proceeds from the sugar tax are being utilised in the fight against cancer, ami...Published: 26 Jun 2025 at 09:02hrs | 163 | by Staff reporter
ZBFH to surrender building society licence by year-end
Financial services group ZB Financial Holdings (ZBFH) has announced its intention to comply with the Reserve Bank of Zimbabwe's (RBZ) conditions to surrender the licence of its building society unit b...Published: 11 Jun 2025 at 08:40hrs | 127 | by Staff reporter
'Zimbabwe could unlock US$9bn from retaken land'
The outgoing president of the African Development Bank (AfDB), Akinwumi Adesina, has revealed that Zimbabwe could unlock up to US$9 billion from land seized during the 2001 fast-track land reform prog...Published: 29 May 2025 at 10:24hrs | 212 | by Staff reporter
Rwandan refugees in Zimbabwe accused of fuelling anti-Kagame agenda
Zimbabwe is harbouring a covert network of Rwandan refugees opposed to President Paul Kagame's government who are accused of engaging in clandestine operations aimed at sabotaging diplomatic ties betw...Published: 21 May 2025 at 11:16hrs | 583 | by Staff reporter
Zanu PF chef loses fortune in toned down water deal
A controversial US$138 million contract awarded to Helcraw Electrical Projects, a company owned by Zanu PF legislator Farai Jere, for the development of Harare's water infrastructure has been signific...Published: 17 May 2025 at 14:03hrs | 333 | by Staff reporter
Mwonzora slams Mnangagwa third term bid,
MDC leader Douglas Mwonzora has issued a stern warning against attempts to extend President Emmerson Mnangagwa's tenure beyond the constitutionally permitted two terms, saying the move would drain an ...Published: 02 May 2025 at 08:05hrs | 1285 | by Staff reporter
Mawarire alleges secret pact between Mnangagwa and Chamisa
Jealousy Mawarire, former spokesperson for the late President Robert Mugabe and prominent political commentator, has sparked controversy with explosive allegations suggesting a covert and corrupt arra...Published: 23 Apr 2025 at 22:55hrs | 3369 | by Staff reporter
Fresh US$100m gold scandal rocks treasury as top Zanu-PF ally implicated
A major financial scandal has erupted at Zimbabwe's Finance Ministry, exposing what appears to be a fraudulent US$100 million payout to a shadowy company linked to a top Zanu-PF gold dealer, Pedzisayi...Published: 22 Apr 2025 at 08:29hrs | 6545 | by Staff reporter
George Guvamatanga gave company 'illegal' bank guarantee on $20 million loan
Treasury secretary George Guvamatanga has been accused of providing an "illegal and unconstitutional" bank guarantee for a US$20 million loan to a seed company linked to command agriculture corruption...Published: 17 Apr 2025 at 20:32hrs | 6602 | by Staff reporter
Former Harare Mayor, Ex-Town Clerk arrested on corruption charges
Former Harare Mayor Bernard Manyenyeni and ex-acting town clerk Josephine Ncube have been arrested on charges of criminal abuse of duty, the Zimbabwe Anti-Corruption Commission (ZACC) confirmed last n...Published: 16 Apr 2025 at 23:20hrs | 134 | by Staff reporter
Zimbabwe white former farmers start receiving compensation
The Government of Zimbabwe has begun compensating white former commercial farmers whose land was repossessed during the Land Reform Programme, marking a pivotal step in the country's efforts to resolv...Published: 10 Apr 2025 at 09:01hrs | 91 | by Staff reporter
Mnangagwa faces his waterloo
he Zanu-PF succession battle between Zimbabwean President Emmerson Mnangagwa and Vice-President Constantino Chiwenga is reaching a critical juncture as the confrontation escalates ahead of the March 3...Published: 20 Mar 2025 at 09:12hrs | 4926 | by Staff reporter
Zimbabwe secures US$20 million to construct 120 schools
The Ministry of Primary and Secondary Education has secured US$20 million from international partners, with additional funding from the Treasury, as the Government aims to construct 120 new schools an...Published: 03 Mar 2025 at 12:32hrs | 144 | by Staff reporter
NSSA chairman embroiled in underhand Rainbow Tourism Group takeover bid
NATIONAL Social Security Authority (Nssa) chairman Emmanuel Fundira, who is former chairman of African Sun Limited, and an ex-Rainbow Tourism Group (RTG) senior executive Paula January are accused of ...Published: 18 Feb 2025 at 20:01hrs | 1543 | by NewsHawks
Zimbabwe begins compensation of BIPPA protected ex-white farmers
Finance and Investment Promotion Minister Mthuli Ncube has announced the commencement of compensation payments to farmers under a US$20 million facility allocated in the 2024 National Budget. The paym...Published: 12 Feb 2025 at 06:41hrs | 781 | by Staff reporter
Mnangagwa's govt fails to honour promises
Traders who lost goods worth over US$20 million in a devastating fire at Mbare Musika last October are expressing frustration over the government's failure to fulfill its promises of interest-free loa...Published: 08 Feb 2025 at 12:53hrs | 902 | by Staff reporter
Chivayo responds to reports of bank limit adjustments
Businessman Wicknell Chivayo has strongly dismissed reports that he requested Ecobank to adjust two bank accounts to a US$20 million monthly limit after securing lucrative government contracts worth U...Published: 29 Jan 2025 at 18:49hrs | 14617 | by Staff reporter
'John Moxon tried to sell Victoria Falls Hotel stake without board approval'
Tensions at Meikles Limited have reached a boiling point, as a group of four directors has accused the company's non-executive chairman, John Moxon, of attempting to sell the group's 50% stake in the ...Published: 04 Dec 2024 at 09:21hrs | 1747 | by Staff reporter
John Moxon calls meeting to sack his Meikles board
John Moxon was in a hospital bed when Meikles directors met to sell off a key asset and fire the CEO - and he claims someone lied that his phone had been "compromised" to keep him in the dark about it...Published: 27 Nov 2024 at 08:47hrs | 2799 | by Staff reporter
Zimbabwe under pressure over debt clearance
Zimbabwe is facing increasing pressure to implement the key reforms demanded as part of the ongoing arrears clearance and debt resolution process. With international mediators aiming to conclude the p...Published: 26 Nov 2024 at 08:12hrs | 124 | by Staff reporter
US$88million needed for airports upgrade
The Airports Company of Zimbabwe (ACZ) requires US$88 million in the 2025 financial year to fund critical infrastructure development projects, including the construction and refurbishment of airports ...Published: 22 Nov 2024 at 07:02hrs | 161 | by Sgtaff reporter
Zanu-PF to renew talks with Britain over pledge to fund Zimbabwe land reform process
President Emmerson Mnangagwa's party plans to reopen talks with Britain amid faint hopes the former colonial master could reconsider a return to its pledges to contribute financially towards Harare's ...Published: 28 Oct 2024 at 09:50hrs | 418 | by Staff reporter
Govt happy with arrears clearance progress
The Zimbabwean Government has expressed optimism over the progress and milestones achieved in reforms under the arrears clearance and debt resolution process. During a meeting with Sector Working Grou...Published: 18 Oct 2024 at 08:32hrs | 73 | by Staff reporter
Zimbabwe will start to pay 444 white farmers after land grabs
Zimbabwe will begin compensating White farmers whose land was seized in 2000 and led to the decimation of agriculture and the economy.The government has cleared 444 former commercial farm owne...Published: 17 Oct 2024 at 09:09hrs | 466 | by Staff reporter
Over 400 ex-settlers to get compensation
In a significant development for former farm owners, over 400 individuals have been cleared for compensation under the Global Compensation Deed, aimed at addressing losses incurred during Zimbabwe's f...Published: 17 Oct 2024 at 08:59hrs | 194 | by Staff reporter
Zimbabwe compensates farmers over land invasions
The Zimbabwean government will this month pay an initial $20 million to foreign white and local Black farmers who lost land in farm invasions under former leader Robert Mugabe at the turn of the centu...Published: 08 Oct 2024 at 07:34hrs | 1594 | by Staff reporter
US$1m stolen from Namibian bank was paid to Mugabe's pilot
A total of N$18,8 million (US$1m) stolen from SME Bank was transferred to and laundered by former Zimbabwean president Robert Mugabe's pilot and confidant Robert Mhlanga.This is according to c...Published: 20 Aug 2024 at 16:18hrs | 8435 | by Staff reporter
Chivayo spilled beans on corrupt tender
Revelations from Wicknell Chivayo have exposed a corruption scandal involving a US$40 million Zimbabwe Electoral Commission (ZEC) tender. Chivayo detailed how payments from this deal were dis...Published: 12 Jun 2024 at 12:34hrs | 6 | by Staff reporter
Mnangagwa commissions 2003 school in 2024
President Emmerson Mnangagwa is scheduled to officially open Makumimavi Primary School in Chivhu on Friday, alongside 16 other schools across the country. The construction of these schools, funded by ...Published: 30 May 2024 at 08:41hrs | 9 | by Staff reporter
Chivayo hijacks US$40m corrupt ZEC deal
CONTROVERSIAL businessman Wicknell Chivayo, who is close to President Emmerson Mnangagwa and other high-profile government officials, corruptly got a windfall from a murky Zimbabwe Election Commission...Published: 28 May 2024 at 12:47hrs | 35 | by Staff reporter
'Mnangagwa officiating at all manner of ceremonies becoming problematic'
So, President Emmerson Dambudzo Mnangagwa is still making national news headlines for officially commissioning new companies.In fact, his latest stunt was not even commissioning a new company ...Published: 19 May 2024 at 12:20hrs | 3 | by Tendai Ruben Mbofana
When the president officially commissions companies, then Zimbabwe is still far from developing!
So, President Emmerson Dambudzo Mnangagwa is still making national news headlines for officially commissioning new companies. In fact, his latest stunt was not even commissioning a new company...Published: 18 May 2024 at 20:53hrs | 5 | by Tendai Ruben Mbofana
The Zimbabwe currency crisis as seen from abroad!
AS we go to press, US financial news media has become aware of the Zimbabwe financial crisis.Bloomberg news agency and the Financial Times have reported authoritatively on the events surroundi...Published: 07 Apr 2024 at 10:25hrs | 7 | by Kenneth Mafuka
South African jailed 30 years for kidnapping Zimbabwean in Uganda
A South African national, Joachim Ugochukwu Onyeako has been sentenced to 30 years in jail for kidnapping a Zimbabwean national with the intention to procure a ransom.Onyeako was sentenced by ...Published: 06 Apr 2024 at 08:12hrs | 1 | by Staff reporter
'Use lithium to negotiate Zimbabwe out of sanctions'
ZIMBABWE should apply economic diplomacy by leveraging on lithium resources to negotiate itself out of sanctions, United Nations Development Programme (UNDP) country representative Ayodele Odusola has...Published: 19 Feb 2024 at 04:53hrs | 2 | by Staff reporter
Minerals, tobacco dominate Zimbabwe's export list
In the third quarter of the year, Zimbabwe's export landscape continued to be dominated by raw minerals and tobacco, as outlined in the Reserve Bank of Zimbabwe's (RBZ) third-quarter report.Ac...Published: 27 Dec 2023 at 15:09hrs | 13 | by Staff reporter
CSO hails Bikita minerals beneficiation to communities
BIKITA - President Emmerson Mnangagwa commissioned petalite and spodumene processing plants at Bikita Minerals that are valued at US$ 300 million on November 29 2023.The giant processing plant...Published: 05 Dec 2023 at 09:09hrs | 20 | by Stephen Jakes
Zimbabwe govt to refurbish Stadiums
The government has undertaken a commitment to revitalize key stadiums across the country, potentially allowing national teams to resume playing their home matches domestically.Finance Minister...Published: 01 Dec 2023 at 04:54hrs | 12 | by Staff reporter
Zimdollar maintains stable range on RBZ Auction, parallel market
The Zimbabwean dollar has maintained a stable range on both the Reserve Bank of Zimbabwe (RBZ) Foreign Exchange Auction and the parallel market platforms in recent weeks, according to a trading update...Published: 23 Nov 2023 at 05:45hrs | 2 | by Staff reporter
David Coltart held up by Bulawayo's empty coffers?
Bulawayo Mayor, David Coltart, has expressed concerns regarding the US$20 million debt owed by the city's residents and ratepayers. It has been 45 days since Coltart was elected as the Mayor of Bulawa...Published: 25 Oct 2023 at 06:39hrs | 1 | by Staff reporter
100 Zimbabweans probed over US$70m ill-gotten wealth
Over 100 individuals suspected of acquiring assets worth US$70 million through money laundering and illicit financial activities are currently under investigation. The National Prosecuting Authority (...Published: 22 Oct 2023 at 09:15hrs | 3 | by Staff reporter
Molai never sponsored Kasukuwere
Adam Molai, the tobacco tycoon and owner of Pacific Cigarette Company (PCC), has refuted allegations that he provided financial support for former Zanu-PF political commissar Saviour Kasukuwere's fail...Published: 16 Oct 2023 at 19:41hrs | 16 | by Staff reporter
NSSA is a vehicle for enriching the powerful whilst exploiting the poor!
I already knew that Zimbabwe was hell and a living nightmare for the vast majority of the ordinary citizenry.I was also fully aware that the powerful were the only ones getting richer and rich...Published: 15 Oct 2023 at 09:49hrs | 1 | by Tendai Ruben Mbofana
Zimdollar weakens by 0.75%
The Zimbabwean dollar (ZWL) experienced a slight 0.75% depreciation on the Reserve Bank of Zimbabwe's (RBZ) Foreign Exchange Auction this week. This was due to a substantial allocation of foreign curr...Published: 11 Oct 2023 at 06:30hrs | 2 | by Staff reporter
New railway line to link Binga, Kwekwe
THE newly commissioned Muchesu Coal Mining company in Binga District, Matebeleland North Province, plans to construct a new railway line linking its plant with Kwekwe as part of a broader investment d...Published: 01 Aug 2023 at 06:27hrs | 12 | by Staff reporter
'Greedflation' rocks Zimbabwe
THE ZW$ gained by 4,8% on the Reserve Bank of Zimbabwe Foreign Exchange Auction Tuesday amid concerns that most retailers remain reluctant to reduce prices of basic goods.A trading update rele...Published: 12 Jul 2023 at 08:13hrs | 2 | by Staff reporter
Zimdollar demand soars
DEMAND for the Zimbabwean dollar continues to soar as more businesses and individuals seek to transact using the local currency, which has regained its lost value for the third consecutive time at the...Published: 05 Jul 2023 at 07:15hrs | 1 | by Staff reporter
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