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Afreximbank exposes US$2,4 billion hole in Zimbabwe external debt
The African Export-Import Bank (Afreximbank) has revealed a significant US$2.4 billion discrepancy in Zimbabwe's official external debt data, raising fresh concerns over the credibility of the country...Published: 14 hrs ago | 100 | by Staff reporter
Zimbabwe to benefit from surge in remittances
Zimbabwe stands to gain significantly from a projected surge in remittance inflows into Africa, with the African Development Bank (AfDB) forecasting that the continent will receive US$100 billion in r...Published: 17 hrs ago | 95 | by Staff reporter
Cash-hoarding cripples Zimbabwe banking sector
Zimbabwe's banking sector is under immense strain due to a severe liquidity crisis, with billions of dollars being hoarded outside the formal financial system by wealthy individuals. This alarming dev...Published: 29 May 2025 at 13:18hrs | 659 | 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 | 207 | by Staff reporter
Africa set to attract $100 billion in remittance inflows
The African Development Bank (AfDB) has projected that Africa will receive approximately US$100 billion in remittance inflows in 2025, as the continent positions itself to harness the full potential o...Published: 29 May 2025 at 10:20hrs | 23 | by Staff reporter
UK Minister for Africa to visit Zimbabwe
Zimbabwe and the United Kingdom are set to deepen diplomatic and economic ties with the anticipated visit of UK Minister for Africa, Lord Collins, in what is shaping up to be a historic shift in relat...Published: 28 May 2025 at 12:16hrs | 634 | by Staff reporter
Zimbabwe turns to sugar, fast foods, and booze for revenue
Zimbabwe's Treasury is relying heavily on taxes imposed on sugar, fast food, and alcoholic beverages to recoup hundreds of millions of dollars lost following sharp cuts in official development assista...Published: 28 May 2025 at 11:02hrs | 413 | by `
Zimbabwe sees $2.6bn bridge finance in place by early 2026
Zimbabwe anticipates securing $2.6 billion in bridge financing by the first quarter of next year, a crucial step needed to repay debt owed to international financial institutions and regain access to ...Published: 28 May 2025 at 10:51hrs | 113 | by Staff reporter
Zimbabwe's economic reforms gain momentum with IMF deal
Finance, Economic Development and Investment Promotion Minister, Professor Mthuli Ncube, has announced that Zimbabwe expects to secure a Staff Level Agreement (SLA) with the International Monetary Fun...Published: 28 May 2025 at 10:38hrs | 81 | by Staff reporter
Zimbabwe's debt indaba on, AfDB meetings start
The African Development Bank Group (AfDB) has commenced its 2025 annual meetings today, featuring key agenda items including Zimbabwe's arrears clearance and debt resolution process, as well as ...Published: 26 May 2025 at 08:31hrs | 139 | by Staff reporter
Zimbabwe missing out on mega EU loans - loans have to be paid back
Zimbabwe is missing out on crucial loans from Europe's largest financial institutions, including the European Investment Bank (EIB), due to its unsustainable debt burden, the European Union's ambassad...Published: 26 May 2025 at 08:16hrs | 45 | by Staff reporter
Zimbabwe targets 2030 to clear US$21 billion debt
Zimbabwe has set an ambitious 2030 deadline to clear its ballooning US$21 billion public debt, in a bid to create the foundations for a stable mono-currency regime anchored by the Zimbabwe Gold (ZiG) ...Published: 19 May 2025 at 09:21hrs | 126 | by Staff reporter
Zimbabwe, IMF talks underway
Zimbabwe has entered into preliminary discussions with the International Monetary Fund (IMF) for a new Staff-Monitored Programme (SMP), marking a significant step toward restoring the country's econom...Published: 18 May 2025 at 11:51hrs | 163 | by Staff reporter
Botswana gets $304 million AfDB loan
The African Development Bank (AfDB) has approved a $304 million loan to Botswana as the country grapples with rising fiscal pressures and seeks to implement crucial governance and economic reforms. Th...Published: 16 May 2025 at 17:29hrs | 450 | by Staff reporter
IDBZ CEO Sakala set to step down
Mr. Thomas Zondo Sakala, the Chief Executive Officer (CEO) of the Infrastructure and Development Bank of Zimbabwe (IDBZ), is set to step down from his position in August this year after completing a s...Published: 13 May 2025 at 10:08hrs | 236 | by Staff reporter
Senegal backs Zimbabwe UNSC seat bid
Senegal has pledged full support for Zimbabwe's bid for a non-permanent seat on the United Nations Security Council (UNSC) for the 2027–2028 term, in a strong show of solidarity that further cements...Published: 08 May 2025 at 09:41hrs | 90 | by Staff reporter
AfDB says Zimbabwe seeks $2.6bn in bridge finance to overhaul debt
The African Development Bank said Zimbabwe has proposed seeking $2.6 billion in bridge finance to help it clear arrears owed to international financial institutions as it attempts to break a debt impa...Published: 24 Apr 2025 at 21:18hrs | 130 | by Staff reporter
Mthuli Ncube unveils industrial development facilities
Zimbabwe's Finance Minister, Mthuli Ncube, has outlined a comprehensive strategy aimed at supporting the growth of micro, small, and medium-sized enterprises (MSMEs) in the country. The initiative, wh...Published: 24 Apr 2025 at 21:17hrs | 284 | by Staff reporter
Zimbabwe unveils fund to support value chains
The Government of Zimbabwe has launched the Industrial Development Fund (IDF) to support the strengthening of domestic value chains, promote industrial growth, and increase the export of value-added g...Published: 24 Apr 2025 at 07:20hrs | 37 | by Staff reporter
IMF, World Bank urged to back Zimbabwe economic recovery efforts
Former Mozambican President Dr Joaquim Chissano and African Development Bank (AfDB) President Dr Akinwumi Adesina have called on the International Monetary Fund (IMF) and the World Bank to support Zim...Published: 23 Apr 2025 at 08:29hrs | 135 | 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 | 81 | by Staff reporter
Zimbabwe lines up seven sponsors to clear arrears
Zimbabwe is actively negotiating with seven potential sponsors, including individual countries, multilateral financial institutions, and private financiers, to secure the necessary funding, guarantees...Published: 23 Mar 2025 at 08:13hrs | 998 | by Staff reporter
Zimbabwe, Botswana border impasse rages on
A long-standing border dispute between Zimbabwe and Botswana, sparked by the construction of the Kazungula Bridge, continues to be a contentious issue four years after the US$259.3 million project was...Published: 15 Mar 2025 at 11:58hrs | 14143 | by Staff reporter
Zimbabwe could clear arrears with bold reforms
Zimbabwe could clear its arrears and rework $21 billion in debt that's kept it locked out of international capital markets for more than a quarter of a century if it implements fiscal reforms, the Wor...Published: 27 Feb 2025 at 11:05hrs | 356 | by Staff reporter
Zimbabwe among Africa's fastest-growing economies in 2025
Zimbabwe is expected to be one of Africa's fastest-growing economies this year, with the African Development Bank (AfDB) forecasting a 5.3 percent growth rate.This strong projection is slightl...Published: 26 Feb 2025 at 07:42hrs | 375 | by Staff reporter
Mnangagwa returns from AU Summit
SADC chairperson and Zimbabwean President Emmerson Mnangagwa has returned home from Addis Ababa, Ethiopia, where he attended the 38th Ordinary Session of the African Union (AU). This year's summit, he...Published: 16 Feb 2025 at 17:16hrs | 834 | by Staff reporter
Mnangagwa, Hichilema come face to face
President Emmerson Mnangagwa and his Zambian counterpart Hakainde Hichilema had an uneasy public interaction in Addis Ababa, Ethiopia, yesterday, as their strained diplomatic relations played out duri...Published: 16 Feb 2025 at 16:47hrs | 3835 | by Staff reporter
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 | 774 | by Staff reporter
Mnangagwa praises Akinwumi Adesina
President Emmerson Mnangagwa has congratulated Dr Akinwumi Adesina for his outstanding leadership at the helm of the African Development Bank (AfDB), marking the end of his decade-long tenure as presi...Published: 08 Feb 2025 at 12:40hrs | 217 | by Staff reporter
Zimbabwe's seed certification scheme to be reviewed
Zimbabwe's agriculture sector is set for a significant overhaul as stakeholders organize a write shop aimed at realigning and updating the country's Seed Certification Scheme. This initiative, part of...Published: 05 Feb 2025 at 13:55hrs | 172 | by Staff reporter
Hwange Power Station breaches 1 000MW output
Consumers across Zimbabwe have expressed their satisfaction with the recent improvement in power supply, attributed to the successful completion of maintenance works at the Hwange Power Station. The f...Published: 30 Jan 2025 at 06:52hrs | 3148 | by Staff reporter
SADC advances plans to operationalise regional development fund
The Southern African Development Community (SADC) is making significant strides towards operationalising its Regional Development Fund (RDF), a financing mechanism aimed at fostering sustained economi...Published: 21 Dec 2024 at 08:11hrs | 93 | by Staff reporter
Bulawayo raises over US$21 million for Glassblock dam construction
Bulawayo City Council has successfully raised over US$21 million toward the construction of the Glassblock Bopoma Dam, a critical infrastructure project aimed at addressing the city's water crisis and...Published: 08 Dec 2024 at 10:09hrs | 2669 | by Staff reporter
Zimbabwe charts ambitious return to global finance at debt conference
Zimbabwe's president hosted creditors and finance executives on Monday to discuss ambitious goals to clear debt arrears and restructure $12.7 billion in external debt, as the country aims to eventuall...Published: 26 Nov 2024 at 08:22hrs | 213 | by Staff reporter
Zimbabwe to pay white farmers US$331 million in move to rework debt
Zimbabwe plans to pay $331 million to white former farmers whose land the nation seized in 2000 as a step toward getting creditors to agree to restructure the nation's debt pile, which has left it loc...Published: 26 Nov 2024 at 08:19hrs | 459 | 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 | 120 | by Staff reporter
Zimbabwe to hold talks on $21 billion debt albatross this month
Zimbabwe will resume talks with creditors later this month to restructure $21 billion in external debt as it seeks to exit a default that's kept it locked out of international capital markets since 19...Published: 07 Nov 2024 at 07:17hrs | 392 | by Rigid Kondongwe
Zimbabwe scores milestones on arrears clearance process
The Government of Zimbabwe has received commendations for significant progress in the implementation of reforms under the Arrears Clearance and Debt Resolution process, a vital step towards transformi...Published: 17 Oct 2024 at 08:57hrs | 190 | by Staff reporter
It's time African leaders were barred from foreign medical care!
So, the people of Cameroon have no idea where their president is. Paul Biya, who is now the oldest head of state in the world, at 91 years old, has not been seen in public for the past three m...Published: 09 Oct 2024 at 10:51hrs | 1114 | by Tendai Ruben Mbofana
The power crisis farce: Unpacking Mnangagwa's broken promise to Zimbabwe
Zimbabwe's power crisis has been a perennial problem, plaguing the country for decades.In August 2023, President Emmerson Dambudzo Mnangagwa proudly declared that the commissioning of the new ...Published: 08 Oct 2024 at 17:30hrs | 517 | by Tendai Ruben Mbofana
Zimbabwe struggles to capitalize on EU trade opportunities
Zimbabwe has yet to fully exploit significant export opportunities within the European Union (EU) under a duty-free agreement, despite the EU's vast market, which boasts a US$19 trillion gross domesti...Published: 20 Sep 2024 at 09:37hrs | 352 | by Staff reporter
World Bank says Zimbabwe needs economic stability to advance debt talks
Zimbabwe needs an uninterrupted period of macroeconomic stability of at least 12 months to help advance debt talks with international creditors over $21 billion it owes, the World Bank said.Ha...Published: 17 Sep 2024 at 06:52hrs | 408 | by Staff reporter
Zimbabwe sitting on 40 trillion cubic feet of gas in Lupane
Zimbabwe holds vast reserves of untapped methane gas in the Lubimbi area of Lupane, Matabeleland North province, but has struggled for years to secure an investor to begin exploiting this valuable res...Published: 14 Sep 2024 at 12:28hrs | 13457 | by Staff reporter
Zimbabwe to support Zambia in AfDB bid
President Mnangagwa has pledged Zimbabwe's support for Zambia's candidate, Dr. Samuel Munzele Maimbo, in his bid for the African Development Bank (AfDB) presidency in next year's election. Dr. Maimbo,...Published: 31 Jul 2024 at 07:04hrs | 427 | by Staff reporter
Zambia seeks Zimbabwe's support for AfDB candidacy
Zambia has sought Zimbabwe's support for its candidate in the 2025 African Development Bank (AfDB) presidency elections, as disclosed by Foreign Affairs and International Trade Minister Ambassador Fre...Published: 21 Jul 2024 at 10:20hrs | 315 | by Staff reporter
Zimbabwe moves to boost power supply
The Zimbabwean government has taken steps to address the country's severe power shortages by signing consultancy contracts aimed at supporting independent power producers (IPPs). These efforts are par...Published: 18 Jul 2024 at 06:42hrs | 301 | by Staff reporter
Shareholders cream off US$1,6b from Mutapa
Zimbabwe's debt restructuring talks are at risk following revelations that the country's liabilities may have increased due to a secretive US$1.6 billion payment to unknown shareholders under the sove...Published: 04 Jul 2024 at 09:33hrs | 22 | by Staff reporter
ZiG performance pleases RBZ, private sector leaders
Private sector leaders and the Reserve Bank of Zimbabwe (RBZ) have praised the performance of Zimbabwe's structured currency, the Zimbabwe Gold (ZiG), citing its stability and positive impact on price...Published: 28 Jun 2024 at 07:39hrs | 4 | by Staff reporter
Eunice Njovana vies for CEDAW top post
Zimbabwean women are consistently breaking barriers by attaining leadership positions in international and regional institutions. Notably, Eunice Njovana, a distinguished feminist, is vying fo...Published: 15 Jun 2024 at 12:47hrs | 10 | by Tonderai Ndoro
Zimbabwe rated Africa's most expensive economy
Zimbabwe was recently identified as Africa's most expensive country according to a comprehensive study by the African Development Bank (AfDB). The study assessed power purchasing parities (PPPs) and e...Published: 15 Jun 2024 at 11:13hrs | 71 | by Staff reporter
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