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Zimbabwe finance ministry bans foreign trips
The Zimbabwean government is tightening its belt in response to a severe cash crunch as it approaches the end of 2024. Finance Secretary George Guvamatanga has announced measures aimed at curbing spen...Published: 18 Nov 2024 at 15:24hrs | 5499 | by Staff reporter
Zimbabwe foreign currency reserves rise to US$500m
Zimbabwe's foreign currency reserves backing its local currency, the Zimbabwe Gold (ZiG), have surged past US$500 million, tripling the total amount of ZiG in circulation. This development is expected...Published: 10 Nov 2024 at 10:41hrs | 170 | by Staff reporter
Devaluation fails to halt ZiG free-fall
Zimbabwe's new local currency, the Zimbabwe Gold (ZiG), has taken another hit, losing an additional 11% of its value in under a month following a substantial 43% "devaluation" announced by monetary au...Published: 29 Oct 2024 at 13:49hrs | 4502 | by Staff reporter
Teen forged O-Level results to join Zimbabwe police
An 18-year-old woman from Chitungwiza has been arrested after attempting to join the Zimbabwe Republic Police (ZRP) with a forged Zimbabwe School Examinations Council (Zimsec) Ordinary Level results s...Published: 25 Oct 2024 at 08:39hrs | 248 | by Staff reporgter
Billions 'wiped off' Zimbabwe banks
Bankers in Zimbabwe have attributed a significant downturn in revenues to frequent changes in the country's functional currency, as first-half financial statements revealed a staggering loss of billio...Published: 18 Oct 2024 at 12:28hrs | 1427 | by Staff reporter
Backdated pay rise for civil servants
The Government has delivered on its commitment to review upwards the salaries of civil servants, with employees starting to receive their backdated pay yesterday. This move is part of the Government's...Published: 16 Oct 2024 at 11:47hrs | 528 | by Staff reporter
Zimbabwe born Themba Gorimbo secures fourth-straight UFC win
Zimbabwe born former EFC Welterweight champion and current UFC Welterweight athlete Themba Gorimbo (14-4-0) secured another victory in one of the toughest divisions in the most popular and elite MMA p...Published: 13 Oct 2024 at 13:56hrs | 1154 | by Staff reporter
Cars impounded by BCC up for auction in 30 days
Motorists in Bulawayo are grappling with exorbitant storage fees imposed by the city council for impounded vehicles, leading some to confront charges that exceed the value of their cars. Reports indic...Published: 13 Oct 2024 at 12:30hrs | 1818 | by Staff reporter
USD salary rise, bonus for Zimbabwe civil servants
The Treasury has earmarked substantial funds to increase the remuneration of government employees, with a particular focus on raising the US dollar salary component. This move aims to cushion workers ...Published: 06 Oct 2024 at 10:01hrs | 1629 | by Staff reporter
Salary review for civil servants
The Government of Zimbabwe is set to adjust the wages of civil servants in response to the recent 42.55 percent increase in the Zimbabwe Gold (ZiG) exchange rate against the United States dollar, Fina...Published: 03 Oct 2024 at 08:45hrs | 421 | by Staff reporter
Hwange Units 7 and 8 set for scheduled maintenance
The Hwange Power Station's Units 7 and 8 will undergo scheduled maintenance during the upcoming festive season, a period when national power demand is traditionally lower due to the annual industry sh...Published: 29 Sep 2024 at 11:17hrs | 284 | by Staff reporter
Zimbabweans outraged after RBZ devalues ZiG
A storm of outrage has swept across Zimbabwe following the Reserve Bank of Zimbabwe's (RBZ) shocking decision to devalue the Zimbabwe Gold (ZiG) currency by 75%. The drastic measure has ignited a wave...Published: 28 Sep 2024 at 13:27hrs | 6764 | by Staff reporter
'Govt must adjust ZiG salaries following currency devaluation'
The Amalgamated Rural Teachers Union of Zimbabwe (ARTUZ) has called on Finance Minister Mthuli Ncube and the government to take immediate action in adjusting salaries following the official devaluatio...Published: 27 Sep 2024 at 17:52hrs | 1880 | by Staff reporter
'Zimbabwe's feja-feja economics not working'
Major retail shops in Zimbabwe adjusted their exchange rates to ZiG30 per dollar yesterday as the local currency continued to falter, a day after President Emmerson Mnangagwa accused economic "saboteu...Published: 27 Sep 2024 at 08:26hrs | 284 | by Staff reporter
Young Warriors, Young Zebras draw
Zimbabwe Under-20 1 - 1 Botswana Under-20Zimbabwe's Under-20 football team, the Young Warriors, were left to rue missed opportunities and lapses in concentration as they drew 1-1 against Bot...Published: 27 Sep 2024 at 08:15hrs | 85 | by Staff reporter
Zimbabwe changes schools' closing date for examination classes
The Zimbabwean government has adjusted the holiday school calendar for public examination classes. Schools will now remain open until August 22 for these classes, i...Published: 03 Aug 2024 at 12:29hrs | 2608 | by Staff reporter
Zimbabwe govt scraps VAT on livestock sales
The Ministry of Finance, Economic Development, and Investment Promotion has proposed VAT exemptions on live animals to boost meat demand and support formal trade in the livestock sector. Last ...Published: 26 Jul 2024 at 06:35hrs | 331 | by Staff reporter
Lower growth forecast for Zimbabwe as drought ravages crops
Zimbabwe has adjusted its economic growth forecast downward for 2024 due to severe drought conditions caused by the El Niño weather phenomenon, impacting crop yields across the country. Finan...Published: 11 Jul 2024 at 08:04hrs | 10 | by Staff reporter
Tongaat Hullets slams Zimbabwe's tough fiscal measures
Tongaat Hullets, a listed agriculture and agri-processing firm, has reported on its performance for the period ending March 31, 2024, amidst challenging fiscal measures in Zimbabwe. The compan...Published: 04 Jul 2024 at 10:29hrs | | by Staff reporter
Zimra, Nampak clash over ZW$27bn penalty
Nampak Zimbabwe, a major industrial packaging manufacturer, is contesting hefty penalties imposed by the Zimbabwe Revenue Authority (Zimra), amounting to ZW$26.7 billion. The company attributes this d...Published: 30 Jun 2024 at 18:31hrs | 2 | by Staff reporter
Zimbabwe central bank sees slower economic growth of 2%
The Reserve Bank of Zimbabwe (RBZ) projects the economy to grow by 2% in 2024, which is slower than the government's earlier forecast of 3.5%. Despite the lower inflation outlook and market calls for ...Published: 27 Jun 2024 at 14:22hrs | | by Staff reporter
Sibanda emerges as the hero for Highlanders
Highlanders 1-0 HwangeMarvin Sibanda emerged as the hero for Highlanders, scoring the decisive goal that secured a crucial 1-0 victory against Hwange in a Castle Lager Premier Soccer League match ...Published: 24 Jun 2024 at 06:38hrs | 8 | by Staff reporter
ZSE to list on own bourse
The Zimbabwe Stock Exchange (ZSE) is preparing to self-list on its own platform in the upcoming year, marking a significant milestone in its history. This move, aimed at accessing better risk-adjusted...Published: 22 Jun 2024 at 11:37hrs | 1 | by Staff reporter
NSSA goes after Zimbabwe civil servants 'peanuts' US$ salaries
The National Social Security Authority (NSSA) has proposed deducting foreign currency contributions from Zimbabwe's civil servants, who are already facing severe financial strain due to low wages. ...Published: 19 Jun 2024 at 11:22hrs | 12 | by Staff reporter
Competition for Zimbabwe's internet, data providers tightens
The Postal and Telecommunications Regulatory Authority of Zimbabwe (Potraz) reported a significant influx of licence applications during the first quarter of the year under the converged licensing reg...Published: 16 Jun 2024 at 09:21hrs | 4 | by Staff reporter
IMF calls Zimbabwe's switch to ZiG an 'important' step
The International Monetary Fund (IMF) has commended Zimbabwe's recent adoption of a new gold-backed currency, known as ZiG, viewing it as a positive development. This marks the IMF's first substantive...Published: 24 May 2024 at 08:20hrs | 1 | by Staff reporter
NMBZ optimistic on ZiG inflation-easing impact
Listed financial services provider, NMBZ Holdings Limited, has expressed optimism about the inflation-easing impact of the new Zimbabwe Gold (ZiG) currency, following a 209% revenue increase in the fi...Published: 21 May 2024 at 08:27hrs | 1 | by Staff reporter
Half ZiG and coins to start circulating on April 30
The Reserve Bank of Zimbabwe (RBZ) in the 2024 Monetary Policy Statement introduced a new "structured currency" termed ZiG (Zimbabwe Gold) on April 5. A "structured currency" is a currency tha...Published: 07 Apr 2024 at 21:08hrs | 2 | by Staff reporter
POSB privatisation put on halt
THE planned partial privatisation of the People's Own Savings Bank (POSB) has been put on halt as the bank awaits further guidance on the project from the shareholder.Partial privatisation was...Published: 04 Apr 2024 at 06:14hrs | | by Staff reporter
FML bosses fleece policyholders
FIRST Mutual Life Assurance (FML) managers set up an employee mortgage scheme and an employee staff loan scheme without the knowledge of the board, resulting in policyholders being prejudiced of more ...Published: 21 Mar 2024 at 19:45hrs | 2 | by Staff reporter
Why US sanctions on Zimbabwe 'have not worked'
The United States is a global superpower. Its political and economic reach is massive and global in character. Look back in history and you can see how the US has so often made real changes to the wor...Published: 19 Mar 2024 at 19:54hrs | | by Eddie Cross
Grain imports into Zimbabwe liberalised
GOVERNMENT has liberalised the importation of grain at household level as part of a raft of measures aimed at mitigating the effects of the El Nino-induced drought and guaranteeing national food secur...Published: 13 Mar 2024 at 05:07hrs | 3 | by Staff reporter
Bosso silences Dembare
Highlanders 2 - 1 DynamosKelvin Kaindu could not have hoped for a better kickoff to the 2024 Castle Lager Premier Soccer League (PSL) season as his team secured a 2-1 victory over bitter rivals, D...Published: 10 Mar 2024 at 18:50hrs | 3 | by Staff reporter
'Zimbabwe inflation rate at 747%'
ZIMBABWE'S annual inflation could be over 20 times higher than the official rate of 34,8%, an independent advisory estimated this week, as it gave glimpses into fundamentals behind deeper turbulence c...Published: 16 Feb 2024 at 15:22hrs | 2 | by Staff reporter
Mthulisi Ncube exempts VAT on key basic commodities
TREASURY has gazetted the suspension of Value Added Tax (VAT) on selected basic commodities with effect from today as part of Government measures to tame price increases while boosting consumer purcha...Published: 01 Feb 2024 at 04:57hrs | 9 | by Staff reporter
Zimbabwe farmers appeal for water tariffs review downwards
COMMERCIAL farmers have appealed to the Zimbabwe National Water Authority's (Zinwa) to revise water tariffs downwards saying the latest review from US$10, 76 to US$10 was negligible and therefore hard...Published: 31 Jan 2024 at 04:46hrs | 2 | by Staff reporter
Zimdollar flounders
Zimbabwe's central bank will hold its first rate-setting meeting of the year next Monday as it seeks to deal with a currency rout.The monetary policy committee will meet "to discuss interventi...Published: 25 Jan 2024 at 06:37hrs | 1 | by Staff reporter
Econet calls for balanced regulation
ECONET Wireless Zimbabwe has called for balanced regulation in the telecommunications sector, given the rising operational costs driven by inflation and the shift to using the greenback.In a t...Published: 22 Jan 2024 at 10:13hrs | 1 | by Staff reporter
Mthuli Ncube increases toll fees by 150% in US$ terms
Due to limited resources, Finance and Investment Promotion Minister, Mthuli Ncube, has presented a 2024 National Budget totaling ZWL58.2 trillion, implementing deep tax measures to address financial c...Published: 30 Nov 2023 at 20:08hrs | 8 | by Staff reporter
Gweru proposes 73% vendor penalty fee hike
GWERU City Council has proposed a 73% hike in penalty fees for illegal vending in its next year's budget.Speaking at a budget consultative meeting, assistant finance director Owen Masimba urge...Published: 17 Nov 2023 at 05:07hrs | 1 | by Staff reporter
EcoCash overturns loss into profit
EcoCash Holdings Zimbabwe Limited (EHZL), a FINTECH company, successfully transformed its financial performance, turning a loss into a profit of ZWL$130.19 million after tax for the half-year ending A...Published: 13 Nov 2023 at 05:47hrs | 6 | by Staff reporter
Mnangagwa's govt defends mobile phone tariff hike
The 100 percent tariff increases approved by the Postal and Telecommunications Regulatory Authority of Zimbabwe (Potraz) will still see Zimbabweans enjoying cheaper data compared to the regional cost,...Published: 06 Nov 2023 at 04:44hrs | 8 | by Staff reporter
Zimplats is cutting spending on its US$1.8bn projects
The decline in global platinum prices is compelling Impala Platinum to reduce its planned expenditures across its operations, including Zimplats, which is expected to negatively impact local suppliers...Published: 03 Nov 2023 at 08:22hrs | 7 | by Staff reporter
Zimra can't account for ZW$1 billion
THE Zimbabwe Revenue Authority (Zimra) has failed to account for millions of dollars in tax and deposits paid by clients, amid indications of massive fraud facilitated by weak accounting systems, rais...Published: 31 Oct 2023 at 16:27hrs | 1 | by Staff reporter
Zimbabwe retailers index prices in USD
The foreign currency exchange rate system implemented by the Reserve Bank of Zimbabwe (RBZ) mandates that prices must be displayed in both local currency and foreign currency. Retailers are required t...Published: 31 Oct 2023 at 05:37hrs | 1 | by Staff reporte
Stanbic scoops three prestigious awards
Harare, 24 October 2023 - Stanbic Bank Zimbabwe scooped three prestigious awards - two at the Banks and Banking Survey sponsored by financial services institution, FCB and publishing company, Alpha Me...Published: 25 Oct 2023 at 20:39hrs | 5 | by Agencies
CBZ commends Mthuli Ncube's bold inflation policy
CBZ Holdings Limited (CBZHL), the country's largest banking institution in terms of deposits and assets, has commended monetary authorities for taking bold inflation-targeted measures. The company has...Published: 24 Sep 2023 at 11:47hrs | 2 | by Staff reporter
Matinyarare's property worth over ZW$100m forfeited
FORMER Croco Motors boss Joseph Matinyarare's properties have been forfeited to the state after a court established that he acquired them using the proceeds of crime between 2016 and 2020. The exchang...Published: 24 Sep 2023 at 09:41hrs | 5 | by Staff reporter
Zimra revenue collection surpasses target
A TOTAL of $4,43 trillion in revenue was collected against a target of $3,49 trillion in the first half of the year with positive growth recorded on value-added tax on imports, customs duty, excise du...Published: 29 Aug 2023 at 07:04hrs | | by Staff reporter
Mnangagwa's govt okays US$ university fees
UNIVERSITIES have been given the go ahead to peg their fees in United States dollars while allowing use of local currency convertible at interbank rate at the time of payment with Government reaffirmi...Published: 20 Aug 2023 at 09:27hrs | 8 | by Staff reporter
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