Search / African development bank
Zimbabwe opposition snubs anti-sanctions gala
OPPOSITION parties have snubbed the invitation extended to them by government to attend the State organised anti-sanctions musical e-gala scheduled for Bulawayo this Saturday, describing the event as ...Published: 21 Oct 2020 at 21:54hrs | 665 | by Staff reporter
IMF lowers Zimbabwe GDP growth further
THE International Monetary Fund (IMF) says Zimbabwe's economy will contract by 10,4% this year, much higher than its earlier prediction of 7,4%, but expects a rebound next year.It also expects...Published: 16 Oct 2020 at 07:24hrs | 1672 | by Staff reporter
African Development bank announces new appointment
The African Development Bank Group has announced the appointment of Dr Alex Mubiru as Director (Strategy and Delivery) in the Office of the President, effective 1st November 2020.The group sai...Published: 14 Oct 2020 at 09:27hrs | 2252 | by Stephen Jakes
Mthuli Ncube glosses over crisis?
"WE are not shrinking," said Finance minister Mthuli Ncube, while giving an economic update at a press conference last Monday.The minister said that while countries such as the United States, ...Published: 11 Oct 2020 at 10:52hrs | 2381 | by Staff reporter
Farms deal 'complicates' Zimbabwe crisis
A LANDMARK deal recently inked between white former commercial farmers and the government of Zimbabwe will make it difficult for the country to repay debts, negotiate fresh lines of credit and ask for...Published: 11 Oct 2020 at 08:13hrs | 5574 | by Staff Reporter
Mthuli Ncube says Covid-19 won't hit economy as hard
Zimbabwe's finance minister said on Monday the economy would not be as severely impacted by the Covid-19 pandemic as initially feared and foreign currency inflows had shown resilience.The sout...Published: 05 Oct 2020 at 17:24hrs | 567 | by Staff reporter
Sadc ratchets up anti-sanctions drive
REGIONAL countries will make an emphatic stand against the continued imposition of economic sanctions on Zimbabwe on October 25 through various activities to commemorate the day of solidarity against ...Published: 04 Oct 2020 at 09:56hrs | 184 | by Staff reporter
'Zimbabwe to keep getting IMF technical support'
GOVERNMENT has said it will continue working with international financial institutions (IFIs), including the International Monetary Fund (IMF) after its aborted Staff-Monitored Programme (SMP) with th...Published: 02 Oct 2020 at 07:45hrs | 472 | by Staff reporter
Zimbabwe, Zambia satisfied with progress at Batoka hydro plant
ZIMBABWE and Zambia have expressed satisfaction on the progress made in the construction of the Batoka Gorge Hydro-Electric Scheme (BGHES) since the project was awarded to a Chinese contractor....Published: 21 Sep 2020 at 07:08hrs | 2296 | by Staff reporter
Zimbabwe takes sanctions fight to UN
Zimbabwe will next week use the opening of the 75th session of United Nations General Assembly (UNGA), that will be held virtually because of Covid-19, to reiterate its call for the unconditional remo...Published: 18 Sep 2020 at 06:44hrs | 341 | by Staff reporter
Gono says GNU days were the best
ormer reserve Bank of Zimbabwe (RBZ) governor Gideon Gono says the days of the government of national unity (GNU) were "one of the best economic episodes of our lives".Gono (GG), who retired in 20...Published: 13 Sep 2020 at 07:24hrs | 1596 | by Staff reporter
Sasai launches talent promotion show across Africa
LONDON - Cassava Fintech International (CFI) has launched a new #African&Talented promotion aimed at identifying and supporting talent across Africa through the Sasai App, with the top winner walk...Published: 12 Sep 2020 at 16:00hrs | 440 | by Agencies
The world has lost patience with Zimbabwe's 'Crocodile'
A YEAR ago this week, Zimbabwean President Emmerson Mnangagwa strained credulity when he declared in a Bloomberg TV interview, "We have rejoined the family of nations."The international commun...Published: 07 Sep 2020 at 06:32hrs | 1483 | by Staff reporter
AFDB to host swearing ceremony for newly elected President
The African Development Bank is hosting a swearing-in ceremony of its newly re-elected President, Dr Akinwumi A. Adesina, on Tuesday 1 September 9.00 am GMT.AFDB in a statement yesterday said ...Published: 31 Aug 2020 at 08:40hrs | 755 | by Stephen Jakes
Can Mnangagwa be classified as a strategist?
I DON'T agree with those who say President Emmerson Mnangagwa is an intelligent person and here is why.Mnangagwa did not respond to insults from the G40 because he did not have any choice....Published: 27 Aug 2020 at 07:32hrs | 914 | by Concerned
'Khami Dam sewage water good for drinking'
BULAWAYO City Council (BCC) has said tests have certified that Khami Dam water meets acceptable standards for drinking and is also considering a new aquifer which can supply the city with about 40 meg...Published: 27 Aug 2020 at 07:26hrs | 735 | by Staff reporter
Zimbabwe urgently needs PPP regulation
The state of public infrastructure in Zimbabwe has never been as dire as it is now. Years of underinvestment in the railway network, highways and roads, energy generation plants, sports facilities, bo...Published: 22 Aug 2020 at 20:12hrs | 1156 | by Victor Bhoroma
AfCFTA permanent secretariat a launchpad for Africa's economic transformation
At a ceremony on Monday to commission the permanent secretariat of the African Continental Free Trade Area (AfCFTA), Ghana's President Nana Akufo-Addo and Moussa Faki Mahamat, chairperson of the AU Co...Published: 19 Aug 2020 at 07:47hrs | 296 | by Stephen Jakes
APA tells Zimbabweans to wait for 2023
SINCE the disputed 2018 elections, Zimbabwe has been undergoing difficult circumstances characterised widespread poverty, unemployment, hyperinflation, fuel and drug shortages and the COVID-19 crisis ...Published: 17 Aug 2020 at 07:33hrs | 1093 | by Staff reporter
White farmer compensation: A stunt that backfired
IF you have lived in the village, or had the chance to visit one, you will remember how an ass be-haves. Stubborn and carefree, but very poor of judgement. It spends the whole day hee-hawing, tossing ...Published: 09 Aug 2020 at 10:14hrs | 830 | by Tawanda Majoni
Decaying infrastructure drags Zimbabwe to Stone Age
ZIMBABWE is lagging behind other regional countries in infrastructural development and would require huge investment to build robust infrastructure and catch up with continental leaders, a new report ...Published: 02 Aug 2020 at 09:17hrs | 236 | by Staff reporter
Global financiers shut out Zimbabwe
GOVERNMENT says it is failing to access international financial aid necessary in mitigating the social and economic effects of the Covid-19 pandemic because of sanctions imposed on Zimbabwe by Western...Published: 31 Jul 2020 at 07:58hrs | 2564 | by Staff reporter
2020 Mid Term Budget Hits and Misses
The 2020 mid-term budget and economic review was delivered amid high inflation levels and declining economic productivity that has been worsened by the Corona Virus pandemic. The Zimbabwean economy is...Published: 27 Jul 2020 at 20:38hrs | 1155 | by Victor Bhoroma
Digital trade is the next big thing in Africa
Wamkele Mene was recently appointed Secretary General of the African Continental Free Trade Area Secretariat. Because of COVID-19, free trade for countries that have ratified the agreement did not beg...Published: 25 Jul 2020 at 07:57hrs | 346 | by Kingsley Ighobor
African Development Bank set to join landmark $20 billion Mozambique LNG financing
The African Development Bank has concluded its bid to co-finance the construction of Mozambique's integrated Liquefied Natural Gas (LNG) plant by signing a senior loan of $400 million for the transfor...Published: 22 Jul 2020 at 10:23hrs | 838 | by Stephen Jakes
Rating of the African Development Bank, with Stable Outlook
Fitch Ratings, the global credit rating agency, has affirmed the African Development Bank's (AfDB) Long-Term Issuer Default Rating (IDR) at 'AAA', with stable outlook. According to the agency,...Published: 21 Jul 2020 at 11:49hrs | 396 | by Stephen Jakes
Founding Partners unveil Unified COVID-19 Response to support Africa's private sector
Increased and decisive investment will be the channel for Africa's economic recovery post COVID-19, partners of the Africa Investment Forum said on Friday.They expressed confidence in the cont...Published: 20 Jul 2020 at 11:42hrs | 257 | by Stephen Jakes
Zimbabwe loses US$1 billion to smuggling annually
Smuggling, ineffective border controls and customs loopholes at Beitbridge Border Post might be costing Zimbabwe nearly a US$1 billion a year in unpaid customs duty, industry leaders and authorities c...Published: 15 Jul 2020 at 08:20hrs | 372 | by Staff reporter
Zimbabwe sets its sights on nuclear power
Zimbabwe will have a draft sustainable energy policy by year end that among other critical issues, will promote greater use of renewable sources including nuclear power, according to Energy and Power ...Published: 14 Jul 2020 at 08:52hrs | 4187 | by Staff reporter
485 irregularly imported vehicles unearthed
A special post-vehicle clearance audit last year into vehicle imports, unearthed 485 irregular import documents with a potential revenue inflow prejudice to Treasury valued at US$70 million, the Zimba...Published: 01 Jul 2020 at 07:12hrs | 1399 | by Staff reporter
Mnangagwa courts unrest
Zimbabweans celebrated in their tens of thousands when the military ousted Robert Mugabe and installed Emmerson Mnangagwa as president. Two-and-a-half years later, the party is over.Mnanga...Published: 28 Jun 2020 at 08:13hrs | 785 | by Bloomberg
How RBZ, govt sabotaged plans to restore Zimdollar
UNITED States $75 allowances and allowing retailers to trade in forex show a government shifting into reverse gear, possibly ditching two years' worth of policy steps to end dollarisation.The ...Published: 26 Jun 2020 at 07:26hrs | 6363 | by Staff reporter
'Zimbabwe needs bailout or political breakthrough'
Zimbabwe cannot revive its economy without an international bailout, but any bailout is most likely to come with political and economic conditions attached to it. This comes as the economy is forecast...Published: 24 Jun 2020 at 17:44hrs | 897 | by Staff reporter
BVTA proposes residents and stakeholders Indaba over water problems
Bulawayo Vendors and Traders Association Director Micheal Ndiweni has proposed an Indaba to be conducted by the residents, stakeholders and the council to address the water and service delivery ...Published: 23 Jun 2020 at 12:50hrs | 373 | by Stephen Jakes
Zimbabwe instability blights Common monetary Area prospects
FORMER Finance minister Tendai Biti says Zimbabwe's economic crisis, characterised by currency volatility, 785% inflation, a gargantuan debt stock estimated at US$10 billion and dwindling exports, hin...Published: 19 Jun 2020 at 08:25hrs | 808 | by Staff reporter
Zimbabwe to get another helping hand from the AfDB
Zimbabwe's attempts to raise money to fight Covid-19 are looking up as the African Development Bank (AfDB) is planning to give it US$13.7 million (about R235 million) in financial assistance.T...Published: 16 Jun 2020 at 12:15hrs | 461 | by Staff reporter
Decaying infrastructure drags Zimbabwe to Stone Age
ZIMBABWE is lagging behind other regional countries in infrastructural development and would require huge investment to build robust infrastructure and catch up with continental leaders, a new report ...Published: 14 Jun 2020 at 10:05hrs | 151 | by Nyasha Chingono
'Zimbabwe must get debt clearance from China'
FORMER State Enterprises and Parastatals minister Gorden Moyo has urged government to ask for debt cancellation from China so that the southern African nation could be able to contain the COVID-19 cur...Published: 29 May 2020 at 08:23hrs | 503 | by Staff reporter
ZW$ remains our best foot forward
At the rate at the Zimbabwe dollar (ZW$) is losing its intrinsic value, it may just be a matter of time before the country dollarizes, officially or non-officially.Those pushing for dollarizat...Published: 27 May 2020 at 20:15hrs | 5696 | by Jameson Dapi
Matebeleland Zambezi Water Trust lashes out at BCC
THE Matebeleland Zambezi Water Trust (MZWT) has accused the Bulawayo City Council of mismanagement and lack of vision that has led to the city's water crisis. Bulawayo is facing a critical wat...Published: 27 May 2020 at 07:18hrs | 672 | by Staff reporter
Zimbabwe: IMF hammers country already on its knees
Mercifully, Zimbabwe's infection and death rates from Covid-19 are so far very low but the economy, already labouring under the effects of drought, has been hit by the lockdowns. Worse, the IMF has de...Published: 27 May 2020 at 07:12hrs | 698 | by Baffour Ankomah I New African Magazine
AfDB approves $13,7m grant to Zimbabwe
THE African Development Bank (AfDB) has approved a $13,7 million grant towards Zimbabwe's COVID-19 response.The funds will provide a lifeline for targeted frontline responders and health perso...Published: 16 May 2020 at 07:49hrs | 624 | by Staff reporter
'It's time for real dialogue,' says Mnangagwa's advisor
A MEMBER of President Emmerson Mnangagwa's advisory council, Shingi Munyeza says Zimbabwe needs a new political leadership and broad-based dialogue to tackle political and economic crises that have le...Published: 13 May 2020 at 07:47hrs | 5661 | by Staff reporter
Khami Dam plan reignites debate
Bulawayo City Council's proposal to purify Khami Dam water for drinking has reignited the debate on the suitability of the water for domestic consumption with some residents flatly objecting the plann...Published: 13 May 2020 at 07:24hrs | 385 | by Staff reporter
COVID-19: Urgent Need for African Governments to Upgrade the Health Systems
Amid multifold theories and disinformation spreading around the COVID-19 in Africa, it is important for African governments to consider strengthening the existing health systems and infrastructures, a...Published: 11 May 2020 at 16:24hrs | 159 | by Kester Kenn Klomegah
Sewage contaminated Khami Dam water for drinking, as BCC goes back to 'objectionable' plan
THE Bulawayo City Council (BCC) is exploring possibilities of purifying the dirty Khami Dam water for drinking as the city' s water situation reaches critical levels.The city is conducting a f...Published: 11 May 2020 at 15:01hrs | 621 | by Staff repprter
Mthuli Ncube thoroughly disgraced himself!
No man intentionally disgraces himself. But brother Mthuli Ncube should have known the possible risk, and the possibility of being thoroughly disgraced if such confidential communication was broadcast...Published: 10 May 2020 at 08:14hrs | 4549 | by Ken Mufuka
'$18 billion stimulus to stoke inflation'
The government's $18 billion stimulus package to breathe life into the local economy battered by the effects of the coronavirus outbreak will worsen inflation because of lack of external funding, a fi...Published: 10 May 2020 at 08:09hrs | 405 | by Staff reporter
US tightens screws on World Bank's US$7m Zimbabwe COVID-19 grant
THE United States government has said the US$7 million grant extended to Zimbabwe by the World Bank (WB) will come with stringent accountability measures to ensure that it is not abused by President E...Published: 08 May 2020 at 00:39hrs | 4438 | by Staff reporter
Zimbabwe standing on its last leg, says Think Tank
NKC African Economics says that Zimbabwe's economy is on the verge of collapse and there is need for other countries to help resurrect it. NKC says that the coronavirus had worsened the situat...Published: 06 May 2020 at 08:09hrs | 4347 | by Staff reporter
Load More Stories
