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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 | 391 | 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 | 184 | 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 | 1101 | 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 | 512 | 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 | 340 | 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 | 13412 | 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 | 420 | 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 | 294 | 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 | 298 | 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 | 11 | 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 | 2 | 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 | 3 | 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 | 65 | by Staff reporter
Zimbabwe demands major reductions on $19.2bn debt
Zimbabwe has asked its creditors for significant debt reductions on its $19.2 billion internal and external debt, Bloomberg reported on May 30, citing Finance Minister Mthuli Ncube."We will be...Published: 03 Jun 2024 at 09:07hrs | | by Staff reporter
Mnangagwa wants Africa to change its mindset
President Mnangagwa emphasized the need for a fundamental shift in the mindset of African nations, urging them to transition from being consumers to producers. Speaking at the 59th African Development...Published: 30 May 2024 at 08:38hrs | | 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
AfDB helps Zimbabwe mobilises revenue
THE African Development Bank (AfDB) is working with Treasury and the central bank to produce debt and investment gold models for Zimbabwe to allow the country to come up with best policies to mobilise...Published: 07 Apr 2024 at 10:20hrs | | by Staff reporter
AfDB to fund a $250 million gold mine in Zimbabwe
THE African Development Bank (AfDB) has shown great interest in funding Caledonia Mining Corporation's planned $250 million gold mine in Zimbabwe.The information was relayed by the company's c...Published: 06 Apr 2024 at 08:16hrs | 1 | by Staff reporter
Mthuli Ncube sees $18bn debt talks on course despite US exit
Talks on the restructuring of Zimbabwe's $18 billion debt remain on track, even after the US paused its involvement in the discussions, Finance Minister Mthuli Ncube said.The discussions led b...Published: 07 Mar 2024 at 05:13hrs | | by Staff reporter
Zimbabwe to benefit from AfDB's US$40m Mozambique facility
THE African Development Bank's (AfDB) US$40 million loan to Mozambique's State-owned rail and port authority, Portos e Caminhos de Ferro de Moçambique EP (CFM), will help neighbouring countries, incl...Published: 09 Feb 2024 at 06:59hrs | 1 | by Staff reporter
Zimbabwe debt clearance talks on despite US disengagement
THE United States, through its embassy in Harare, has decided to disengage from participation in Zimbabwe's debt resolution and clearance programme and the round of negotiations resuming next month....Published: 23 Jan 2024 at 04:37hrs | | by Staff reporter
Zimbabwe's ailing SOEs owe Chinese, Indian banks US$1.7billion
ZIMBABWE has accessed loans of up to USS$1.7 billion from Chinese and Indian banks to shore up technically insolvent state-owned enterprises (SOEs), a leading regional financier has revealed.A...Published: 31 Dec 2023 at 12:57hrs | 9 | by Staff reporter
Only Matebeleland has less road rehab work?
GOVERNMENT has so far rehabilitated and reconstructed more than 400 kilometres of road network in Manicaland Province under various initiatives, including the Post Cyclone Idai Recovery and Resilience...Published: 28 Dec 2023 at 07:28hrs | 9 | by Staff reporter
Zimbabwe: African Development Bank approves $25 million trade finance line of credit for Central Africa Building Society
The Board of Directors of the African Development Bank Group (www.AfDB.org/en) has approved a $25 million trade finance line of credit facility to the Central Africa Building Society of Zimbabwe, to b...Published: 20 Dec 2023 at 22:34hrs | 23 | by APO
Mnangagwa ruined Zanu-PF business empire
THE predictable appointment of FBC Holdings chief executive John Mushayavanhu as the incoming Reserve Bank of Zimbabwe (RBZ) governor has completed President Emmerson Mnangagwa's critical post-electio...Published: 12 Dec 2023 at 18:00hrs | 5 | by Staff reporter
David Coltart engages AfDB to solve water crisis
Bulawayo mayor David Coltart has engaged the African Development Bank (AfDB) for funding to address the city's water challenges.Residents are going for days without water due to dwindling leve...Published: 26 Nov 2023 at 08:34hrs | 7 | by Staff reporter
Horror crash exposes parlous state of Matebeleland roads
The Bulawayo City Council has completed a sewer and water sanitation rehabilitation project funded through an African Development Bank AfDB US$33,6 million grant.Council is considering approac...Published: 23 Nov 2023 at 05:33hrs | 12 | by Staff reporter
BCC engages AfDB over water
Bulawayo City Council (BCC) officials have initiated discussions with the African Development Bank (AfDB) to secure funding for short-term measures to alleviate the water crisis by improving water pro...Published: 27 Oct 2023 at 06:21hrs | 1 | by Staff reporter
2 400 megawatt Batoka Gorge project good to go
An agency of the United Nations has cleared Zambia and Zimbabwe to build a $5 billion hydropower dam downstream from Victoria Falls, a Unesco World Heritage Site, the authority overseeing its construc...Published: 21 Oct 2023 at 20:54hrs | 1 | by Staff reporter
Kariba rehab delays worry funders
The funders of the Kariba Dam Rehabilitation Programme (KDRP) have expressed concern over the project's prolonged timeline, which has extended into its seventh year, far exceeding the originally proje...Published: 16 Oct 2023 at 06:08hrs | | by Staff reporter
Mnangagwa planning to resume talks on restructuring $14 billion of unpaid debt
Zimbabwe's President, Emmerson Mnangagwa, is planning to resume talks on restructuring $14 billion of unpaid debt, despite ongoing divisions over disputed elections in the country. Mnangagwa hopes to ...Published: 02 Oct 2023 at 06:30hrs | 1 | by Staff reporter
Mnangagwa briefs Sadc leaders
President Mnangagwa provided updates on Zimbabwe's harmonized elections, characterizing them as peaceful, free, and fair, during discussions with four Sadc leaders. These engagements took place on the...Published: 27 Sep 2023 at 06:13hrs | | by Staff eporter
Zimra to roll out new tax admin system
THE Zimbabwe Revenue Authority (ZIMRA) is set to introduce a new tax system next month in a bid to revolutionise the tax administration terrain in the country through an efficient, effective, and easy...Published: 20 Sep 2023 at 06:24hrs | 3 | by Staff reporter
Massive blow to Mthuli Ncube's bid to widen political ambitions
FINANCE Minister Mthuli Ncube has abandoned his neutral technocrat tag and is now fully embedded in Zanu-PF, but his bid to grow his political clout suffered after he was defeated in the Cowdry Park c...Published: 28 Aug 2023 at 21:44hrs | | by Staff reporter
Chamisa and Mnangagwa are both setting Zimbabwe up to fail
Nelson Chamisa of the Citizens Coalition for Change (CCC) and Zanu-PF's incumbent president, Emmerson Mnangagwa, are setting Zimbabwe up for failure, no matter who actually wins.Chamisa has ca...Published: 27 Aug 2023 at 07:54hrs | | by Lenin Ndebele
Zimbabwe to clear its foreign debt by the end of 2025
ZIMBABWEAN Finance Minister Mthuli Ncube says Harare will do all it can to clear its foreign debt by December 2025 to open fresh lines of credit that would help in revamping the floundering economy....Published: 07 Aug 2023 at 06:36hrs | 1 | by Staff reporter
Zimbabwe loses more than US$23b through IFFs
Zimbabwe lost more than US$23 billion through illicit financial flows (IFFs) between 1980 and 2018, a new report compiled by the African Development Bank (AfDB) shows.Other sources, however, s...Published: 06 Aug 2023 at 08:25hrs | 7 | 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 | 10 | by Staff reporter
'Zimbabwe inflation to reach double figures in 2024'
ZIMBABWE has recorded the highest poverty levels across the southern African region although inflation is expected to go down in 2024 as the government maintains a tight monetary policy and global pri...Published: 31 Jul 2023 at 07:00hrs | 7 | by Staff reporter
Zimbabwe's inflation drops to 101.3%
Zimbabwe's annual inflation eased to 101,3 percent in July from 175,8 percent in the prior month as the local unit continued to firm against the United States dollar and riding on tight fiscal and mon...Published: 26 Jul 2023 at 06:38hrs | | by Staff reporter
Zimra surpasses revenue target
The Zimbabwe Revenue Authority (Zimra) collected $1,99 trillion in net revenue last year, 14 percent above the target of $1,60 trillion spurred by milestones registered in the agricultural sector....Published: 24 Jul 2023 at 06:46hrs | | by Staff reporter
Zanu-PF must walk the talk on violence or be held accountable
PRESIDENT Emmerson Mnangagwa has been calling for a peaceful election campaign this year, but his party Zanu-PF has been called out several times by human rights monitors and election support groups a...Published: 20 Jul 2023 at 06:54hrs | 1 | by Staff reporter
Zimbabwe registers 6,5% GDP growth
ZIMBABWE'S economy grew by 6,5 percent last year, as the country's Gross Domestic Product (GDP) continues to increase year by year, despite the adverse impacts of the Covid-19 pandemic, the Zimbabwe N...Published: 04 Jul 2023 at 07:05hrs | | 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 | 13 | by Staff reporter
Mnangagwa expected in Ghana
PRESIDENT MNANGAGWA is expected in Ghana today, where he will join continental and Caribbean leaders for the 30th African Export-Import Bank (Afreximbank) meetings.His participation symbolises...Published: 18 Jun 2023 at 08:32hrs | 1 | by Staff reporter
Zimbabwe moves to surpass wheat output
Zimbabwe is optimistic that this year's winter wheat production will surpass last year's yield of 375 000 tonnes following various interventions implemented by Government and the private sector to bol...Published: 07 Jun 2023 at 06:07hrs | | by Staff reporter
Mnangagwa says he's grateful for debt, arrears plan
Zimbabwe is grateful to development partners and creditors for embracing the resolution process of arrears clearance and debt, and hopes that if debts are rescheduled or written off, the economy will ...Published: 30 May 2023 at 06:41hrs | 1 | by Staff reporter
Mthuli's theatrics expose government lack of seriousness in addressing Zim economic crisis!
So, finance minister Mthuli Ncube, over the weekend, went around shops in Bulawayo, like a crazed vigilante, tearing down tags displaying prices strictly in US dollars!He even berated a haples...Published: 29 May 2023 at 23:02hrs | | by Tendai Ruben Mbofana
Mnangagwa to visit Malawi
PRESIDENT Mnangagwa is expected to embark on a three-day State Visit to Malawi on Wednesday to discuss matters of mutual interest between the two African countries.In a statement, Malawi's Min...Published: 29 May 2023 at 06:30hrs | | by Staff reporter
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