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Lenders slap Zimbabwe with US$2,1 billion penalties
INTERNATIONAL creditors and banks have hit Zimbabwe with penalties totalling US$2,1 billion for unsettled debts, official data has shown.According to a report titled "Statement of Zimbab...Published: 18 Dec 2022 at 06:50hrs | 1146 | by Staff reporter
AfDB rallies support for Zimbabwe debt solution
When the African Development Bank (AfDB) president, Dr Akinwumi Adesina, speaks on the effects of devastating economic sanctions slapped on Zimbabwe over two decades ago by Britain and her western all...Published: 15 Dec 2022 at 00:21hrs | 609 | by Staff reporter
US removes 17 Zimbabweans from sanctions list, but country remains under sanctions
THE United States government has today removed 17 Zimbabweans from the illegal sanctions list while adding four people and two companies, as the clarion call for total and unconditional removal of the...Published: 14 Dec 2022 at 06:31hrs | 640 | by Staff reporter
Mnangagwa says Zimbabwe power shortages will end in 2023
THE authorities will take extraordinary measures, including the removal of all barriers hindering investment in the energy sector, to ensure that Zimbabwe does not face severe power shortages next yea...Published: 11 Dec 2022 at 08:53hrs | 459 | by Staff reporter
Zimbabwe govt pays US$50,28m to service external debt
TREASURY paid out US$50,28 million between January and September this year towards servicing its active debt portfolio while token payments were also made for debt arrears owed to International Financ...Published: 29 Nov 2022 at 05:15hrs | 232 | by Staff reporter
Mnangagwa invites African finance houses for talks
ZIMBABWE is ready to tap into available financial services provided by the Africa Export and Import Bank (Afreximbank) and the African Development Bank (AfDB) to bolster its industrial transformation ...Published: 28 Nov 2022 at 04:54hrs | 221 | by Staff reporter
Zimbabwe foreign debt now US$14.4bn
DEBT-RIDDEN Zimbabwe's total official Public and Publicly Guaranteed (PPG) debt is estimated at ZW$2.2 trillion for domestic debt and US$14 billion for external debt (including blocked funds of US$3.1...Published: 27 Nov 2022 at 14:58hrs | 266 | by Staff reporter
Prophet Edd Branson nominated Businessman of the year
Harare based Clergyman and businessman Ambassador Edd Branson has been nominated as the outstanding businessman of the year at the Megafest top 20 business awards to be held on the 24 of November at t...Published: 12 Nov 2022 at 13:06hrs | 1402 | by Mandla Ndlovu
Mnangagwa jets back from Abidjan
President Mnangagwa arrived back home this morning from Abidjan, Cote d'Ivoire where he was attending the Africa Investment Forum Market Days 2022, the largest transactional investment marketplace on ...Published: 04 Nov 2022 at 07:17hrs | 977 | by Staff reporter
Mnangagwa says Africa should focus on homegrown solutions
EVEN though Africa has its challenges, most of which are not of its making, seeking solutions from outside the continent could be its undoing and instead the continent should focus on homegrown soluti...Published: 03 Nov 2022 at 05:04hrs | 171 | by Staff reporter
Zimbabwe on the brink of its biggest wheat harvest in history
Zimbabwe says it is on the brink of its biggest wheat harvest in history, thanks in large part to efforts to overcome food supply problems caused by the war in Ukraine. But bush fires and impending ra...Published: 27 Oct 2022 at 19:19hrs | 631 | by Staff reporter
Mthuli Ncube transforms from technocrat to political player
IF ever there was any doubt, Finance minister Mthuli Ncube has fully abandoned his posture as a neutral technocrat after being elected a Zanu-PF central committee member last weekend.The centr...Published: 23 Oct 2022 at 18:55hrs | 2491 | by Staff reporter
200 000 graves cemetery for Bulawayo
BULAWAYO is set to have a 200 000-capacity cemetery which is expected to address the burial space shortage which has been haunting the city in recent years.The project is being implemented as ...Published: 02 Oct 2022 at 09:00hrs | 193 | by Staff reporter
Biti questions Zimbabwe external debt figure
FORMER Finance minister and Harare East legislator Tendai Biti has questioned the country's current external debt and says that the actual figure was likely higher than what government has disclosed....Published: 26 Sep 2022 at 05:59hrs | 677 | by Staff reporter
30m Euros set for Kariba Dam wall rehab
THE European Union (EU) has availed a €30 million package towards the Kariba Dam rehabilitation project. The announcement was made by EU ambassador to Zambia, Jasek Jankowski during a visit ...Published: 17 Sep 2022 at 06:44hrs | 449 | by Staff reporter
Mnangagwa calls for shared African values
AFRICA's shared values and common challenges should not only bring the continent closer, but also help nurture the capacity to build a stable and conflict-free Africa that is needed to promote sustain...Published: 29 Aug 2022 at 06:27hrs | 157 | by Staff reporter
Zimbabwe central bank considers currency board
ZIMBABWE is considering establishing a currency board to support the Zimbabwean dollar, as inflation surges.The southern African country is fast moving back into a hyperinflationary crisis, ab...Published: 12 Aug 2022 at 20:19hrs | 518 | by Staff reporter
'We don't eat roads' mischief
There is a popular Chinese proverb which goes: "if you want to get rich, you have to build roads first", and this is often quoted to explain some of the accelerated development taking place in the Asi...Published: 12 Aug 2022 at 06:33hrs | 481 | by Lovemore Chikova
Zimbabwe to host high-level forum on debt resolution
The Zimbabwean government said Thursday it will soon host a high-level debt resolution forum with development partners and other stakeholders aimed at building consensus among stakeholders on resolvin...Published: 29 Jul 2022 at 06:56hrs | 503 | by Staff reporter
Batoka takeoff failure leaves Zimbabwe, Zambia facing uncertain power future
THE revelations by the Zambezi River Authority (ZRA) that a consortium which clinched a deal to implement the 2 400-megawatt (MW) Batoka Gorge Hydro-Electric Scheme (BGHES) was struggling to mobilise ...Published: 28 Jul 2022 at 06:35hrs | 12943 | by Staff reporter
Zimbabwe misses out on G7 stimulus package
ZIMBABWE missed out on a G7-backed multi-billion-dollar stimulus package designed to help countries of the global South weather economic shocks caused by the Covid-19 pandemic.The reason for t...Published: 25 Jul 2022 at 07:57hrs | 783 | by Staff reporter
Harare-Beitbridge highway project: A new big step in the right direction
AS we turn right off the Harare-Beitbridge highway - just before the intersection of the Harare and Bulawayo arteries five kilometres north of Beitbridge Border Post on the banks of the Limpopo River ...Published: 25 Jul 2022 at 07:57hrs | 1465 | by Staff reporter
340km of Harare - Beitbridge highway revamp complete
AT least 340 kilometres of the Harare-Beitbridge highway have been reconstructed and opened to motorists in the past two years, officials said Friday, promising to expand the aggressive road revamp pr...Published: 17 Jul 2022 at 09:13hrs | 660 | by Staff reporter
Zimbabweans have suffered long enough, says African Development Bank boss
THE African Development Bank (AfDB) says it has accepted to assist Zimbabwe's US$13,5 billion debt clearance plan partly because of the need to alleviate the country's citizens from the impact of extr...Published: 13 Jul 2022 at 07:26hrs | 12517 | by Staff reporter
AfDB to lead Zimbabwe debt clearance roadmap
AFRICAN Development Bank (AfDB) president Dr Akinwumi Adesina has formally accepted President Mnangagwa's request to lead Zimbabwe's debt clearance strategy, which is key for Harare to unlock fresh fu...Published: 13 Jul 2022 at 07:17hrs | 152 | by Staff reporter
'Chamisa could defeat the unreformed Mnangagwa'
ZIMBABWE has been reeling under a multifaceted economic and political crisis since 2000, and it appears there is no end in sight. Amid chronic high inflation, Zimbabwe is confronted with a crucial gen...Published: 12 Jul 2022 at 18:17hrs | 5582 | by Staff reporter
African Development Bank Group Chief in Zimbabwe to get Debt Clearance Plan Underway
HARARE - African Development Bank Group President Dr. Akinwumi Adesina arrived in Zimbabwe at the start of a two-day official visit to the country.Adesina accepted a request in February by the...Published: 12 Jul 2022 at 14:15hrs | 532 | by APO
ZimFund $23 Million Power Project Ready to Roll with Delivery of New Transformer
HARARE, Zimbabwe - An Emergency Power Infrastructure Rehabilitation Project funded by ZimFund, has reached the last leg of implementation with the deliver...Published: 12 Jul 2022 at 08:17hrs | 1046 | by APO
Bulawayo avails 5 000 stands, another 5 000 in Masterplan
THE Bulawayo City Council (BCC) has availed more than 5 000 residential stands in various suburbs with another 5 000 outlined in its master plan as part of efforts to clear the city's housing backlog,...Published: 08 Jul 2022 at 07:35hrs | 3416 | by Staff reporter
US$37 million project stabilises Bulawayo water supply
MASSIVE waterworks initiated by Government and its partners have resulted in the installation of new pumping equipment, rehabilitation of water and sewer treatment plants in Bulawayo, with the Lake Gw...Published: 23 Jun 2022 at 06:44hrs | 332 | by Staff reporter
Low to middle-income housing project takes off from Bulawayo
BULAWAYO yesterday witnessed the official launch of a US$11 million housing project that will result in the construction of thousands of low-cost housing units in selected parts of the country with th...Published: 18 Jun 2022 at 07:26hrs | 765 | by Staff reporter
Zimbabwe's currency dilemma exacerbating matters
A FEW days after Zimbabwe President Emmerson Mnangagwa announced a series of controversial economic measures, that have sped up the depreciation of the Zimbabwe dollar (ZWL), and resultantly, inflatio...Published: 04 Jun 2022 at 19:56hrs | 346 | by Staff reporter
Zimbabwe abandons debt relief initiative
The Zimbabwe government has abandoned its plan to access a debt relief facility under the Highly Indebted Poor Countries (HIPC) initiative, meant to resolve its unsustainable debt, Business Times repo...Published: 02 Jun 2022 at 09:29hrs | 1158 | by Staff reporter
Cargo tracking improves Zimra tax compliance
THE Zimbabwe Revenue Authority (Zimra) has seen improved tax compliance due to its new electronic cargo tracking system (ECTS), which has enhanced monitoring of taxpayers and transit freight in the co...Published: 31 May 2022 at 06:25hrs | 115 | by Staff reporter
132% inflation no cause for 'panic', says Mthuli Ncube
Zimbabwe is taking steps to tackle an inflation rate that's jumped to 132% after its currency slumped, Finance Minister Mthuli Ncube said."We are instituting measures that every other country ...Published: 27 May 2022 at 06:53hrs | 2913 | by Staff reporter
Mnangagwa arrives in Davos
President Mnangagwa and his delegation arrived here this morning for this year's World Economic Forum, where he is expected to network with other world leaders in line with the country's engagement an...Published: 23 May 2022 at 12:46hrs | 1078 | by Staff reporter
Hit hard by storms and forest loss, Zimbabweans building stronger homes
For Florence Panda, the best thing about her new house in eastern Zimbabwe is not the modern design or the size, big enough for her family of nine.It's the fact that the house is built with ce...Published: 22 May 2022 at 08:33hrs | 161 | by Staff reporter
Zimbabwe govt desperate for Western bailout
Zimbabwe has taken its begging bowl to the international community as it desperately seeks financial sponsors to help pay off nearly US$2.5 billion in external arrears owed to the World Bank and the A...Published: 30 Apr 2022 at 16:25hrs | 1071 | by Staff reporter
Mnangagwa pleads poverty
REVELATIONS that Zimbabwe is pushing to be classified a Heavily Indebted Poor Country (HIPC) as Harare seeks debt relief in what is effectively a volte-face on the long-held official aversion to the i...Published: 27 Apr 2022 at 13:37hrs | 282 | by Staff reporter
Zimbabwe pushing to be classified a Heavily Indebted Poor Country
ZIMBABWE is pushing to be classified a Heavily Indebted Poor Country (HIPC) as the country seeks debt relief in what could be a volte-face on the long-held official aversion to the initiative, a new r...Published: 15 Apr 2022 at 19:22hrs | 1082 | by Staff reporter
AfDB to launch new Zimbabwe fund
THE African Development Bank (AfDB) is set to unveil the Zimbabwe Fund for Transition (ZimFort) that will provide funding towards ICT, transport and agriculture sectors.ZimFort is a successor ...Published: 13 Apr 2022 at 06:40hrs | 243 | by Staff reporter
Zacc probes govt ministries
THE Zimbabwe Anti-Corruption Commission (Zacc) is investigating government ministries named in the latest AuditorGeneral's (AG) report accused of misappropriating public funds with an aim to prosecute...Published: 08 Apr 2022 at 12:10hrs | 515 | by Staff reporter
Zimbabwe committed to clear debt arrears
The government is committed to clear its debt arrears with international financial institutions (IFIs) to unlock fresh capital, the Reserve Bank of Zimbabwe (RBZ) governor, John Mangudya (pictured) sa...Published: 08 Apr 2022 at 09:16hrs | 93 | by Staff reporter
Africa should switch to circular economy
IF the world is to achieve the 2030 development goals, African countries must institute government-backed efforts to switch to the sustainable circular economy model of production/consumption....Published: 01 Apr 2022 at 09:12hrs | 70 | by Staff reporter
Largest solar plant set for Matebeleland South
A 2,5MW solar power plant expected to be the single largest rural electrification project in the country is set to be constructed in Manama, Gwanda in Matebeleland South, at a cost of US$4,5 million....Published: 31 Mar 2022 at 08:39hrs | 370 | by Staff reporter
Chegutu commits $3m to water project
THE Municipality of Chegutu has committed the $3 million it received from Treasury under devolution funds to ramp up its water supply system, including plugging leakages and replacing obsolete equipme...Published: 30 Mar 2022 at 07:21hrs | 57 | by Staff reporter
Mnangagwa unhappy with gas licensees
Delays by some investors in implementing projects for renewable or lower carbon energy are potentially hampering Zimbabwe's progress despite the investors being awarded special permits by the Governme...Published: 26 Mar 2022 at 06:15hrs | 361 | by Staff reporter
WB, AfDB bankroll Zimbabwe renewable energy projects
THE World Bank (WB) and African Development Bank (AfDB) have been assisting the Zimbabwean government to implement the renewable energy policy to enhance use of alternative energies.This was r...Published: 24 Mar 2022 at 05:24hrs | 817 | by Staff reporter
Mthuli Ncube sends mixed signals on fuel
FINANCE minister Mthuli Ncube this week sent mixed signals over the country's neo-liberal policy on fuel subsidy as policy inconsistency remains one of the major sources of concern for investors....Published: 19 Mar 2022 at 07:19hrs | 1786 | by Staff reporter
How the West is plotting to exploit Africa
IF designs of global money are not stopped in their tracks, Africa is threatened with environmental degradation and nutritional poverty. If we, as Africans, do not begin to think deeply about what is ...Published: 15 Mar 2022 at 05:40hrs | 474 | by Linda Apollo
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