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Car dealer loses US$40K to fraudster
A HARARE businessman lost US$40 000 to a fraudster in a botched vehicle clearance deal.The issue was heard yesterday by Harare magistrate Dennis Mangosi when the accused, Maganga Robert Pembed...Published: 20 Oct 2021 at 07:36hrs | 861 | by Staff reporter
Major boost for NRZ
A new fleet of locomotives, wagons and coaches should be equipping the National Railways of Zimbabwe (NRZ) by year end with the new dispensation making major strides in revamping the almost collapsed ...Published: 18 Oct 2021 at 06:26hrs | 537 | by Staff reporter
IMF maintains positive outlook for Zimbabwe
THE International Monetary Fund (IMF) has maintained a positive growth trajectory outlook for Zimbabwe in 2021 of 5,1 percent largely supported by increased agricultural output, energy productio...Published: 14 Oct 2021 at 06:21hrs | 385 | by Staff reporter
Trust gets US$5million, collapses in 3 years
THE Marange-Zimunya Community Share Ownership Trust (MZCSOT) has collapsed only three years after the Zimbabwe Consolidated Diamonds Corporation (ZCDC) injected US$5 million to prop it, a Zimbabwe Ind...Published: 08 Oct 2021 at 18:58hrs | 118 | by Staff reporter
Chamisa's new Ponzi scheme
FOLLOWING the MDC's dizzying electoral defeats at the hands of Zanu-PF in March 2013 and July 2018, the opposition outfit lost most of its traditional Western funding as donors turned off the funding ...Published: 03 Oct 2021 at 08:11hrs | 273 | by Nobleman Runyanga
Transfer of health workers starts
Cabinet received an update on the country's response to the Covid-19 outbreak, which was presented by the Minister of Defence and War Veterans Affairs, Honourable OCZ Muchinguri-Kashiri, as chairperso...Published: 29 Sep 2021 at 06:37hrs | 248 | by Staff reporter
Ex-Monarch staff picket at company offices
ABOUT 10 former workers at Monarch Steel (Pvt) Limited Company in Bulawayo on Saturday staged a protest against the company demanding payment of their retrenchment packages amounting to US$63 000....Published: 27 Sep 2021 at 06:17hrs | 1121 | by Staff reporter
Solutions to Zimbabwe debt, fiscal deficits
THE Labour and Economic Development Research Institute of Zimbabwe (Ledriz) has crafted a cocktail of measures which could be a solution to Zimbabwe's debt problems, fiscal deficits, stunted growth an...Published: 24 Sep 2021 at 09:45hrs | 420 | by Staff reporter
Zinara offers motorists amnesty
Motorists who have fallen behind in their vehicle licensing can now catch up this week and next week by just paying what they owe since Zimbabwe National Road Administration (Zinara) has granted its t...Published: 23 Sep 2021 at 06:16hrs | 383 | by Staff reporter
Zinara on licensing promotion
The Zimbabwe National Road Administration (Zinara) is again running a vehicle licensing promotion during the Zimbabwe International Trade Fair exhibition and Zimbabwe Agricultural Show period where al...Published: 21 Sep 2021 at 20:53hrs | 863 | by Staff reporter
Mapeza saves Zifa blushes
Norman Mapeza has saved Zifa a coach crisis after agreeing to hold fort for three months despite the association owing him money from his previous stint with the Warriors.The former Warriors c...Published: 16 Sep 2021 at 06:01hrs | 964 | by Staff reporter
Turkish investors arrive for NRZ deal
The recapitalisation of the National Railways of Zimbabwe is pacing up, with representatives of the Turkish construction company Yapi Merkezi that is keen to invest in the railway firm, arriving in Zi...Published: 08 Sep 2021 at 06:08hrs | 529 | by Staff reporter
NRZ clears $326m salary arrears
The National Railways of Zimbabwe (NRZ) has cleared its legacy salary arrears that accrued from 2012, after paying out $326 million to employees from its coffers, in a development that is expected to ...Published: 07 Sep 2021 at 18:25hrs | 374 | by Staff reporter
Sick bays set up at boarding schools
Schools today reopen for non-examination classes for the long second and final term of 75 teaching days for these classes, without exeat weekends, and with temporary holding and sick bays set up at mo...Published: 06 Sep 2021 at 05:16hrs | 138 | by Staff reporter
Zimbabwe makes first payment to Paris Club in 20 years
ZIMBABWE says it has made its first debt repayment to a group of creditor countries known as the "Paris Club" under a refreshed plan to clear up to US$10,7 billion owed to several multilateral funders...Published: 05 Sep 2021 at 07:06hrs | 2675 | by Staff reporter
Mthuli Ncube to launch US$ bond on VFEX
WITH the Victoria Falls Stock Exchange (VFEX) being one of the innovation reforms meant to support the process of financial deepening, Government is working on launching a US$ bond and list it on the ...Published: 05 Sep 2021 at 06:58hrs | 1849 | by Staff reporter
Mnangagwa claims that Zimbabwean economy is in fast lane
Zimbabwe's economy is arguably the fastest growing on the African continent this year due to sound policies being implemented by the Second Republic, President Mnangagwa has said.Economic grow...Published: 29 Aug 2021 at 07:07hrs | 164 | by Staff reporter
Bulawayo mayoral mansion divides Chamisa's MDC
"The State House was never built for Mugabe (late President Robert) and Mnangagwa (President Emmerson)," Bulawayo mayor Solomon Mguni said, as he sought to justify why the council should also build a ...Published: 28 Aug 2021 at 21:29hrs | 1320 | by Staff reporter
Chamisa raises alarm over IMF funds which Biti wanted blocked
OPPOSITION MDC Alliance leader Nelson Chamisa yesterday expressed fear that President Emmerson Mnangagwa's Zanu-PF government could use the money sourced from the International Monetary Fund (IMF) for...Published: 27 Aug 2021 at 06:45hrs | 6156 | by Staff reporter
Biti's efforts to block IMF from giving Zimbabwe funds failed
Despite MDC-Alliance vice president Tendai Biti's efforts to block the International Monetary Fund (IMF) from giving Zimbabwe nearly US$1 billion in Special Drawing Rights (SDRs), the Government of Zi...Published: 26 Aug 2021 at 17:45hrs | 1416 | by Staff Reporter
Power firm demands payment in forex, drags Zesa to arbitration
ONE of Zimbabwe's biggest independent power projects (IPPs) has approached the Johannesburg-based International Chamber of Commerce (ICC) to arbitrate over a payment dispute with the State-run Zimbabw...Published: 26 Aug 2021 at 06:38hrs | 467 | by Staff reporter
Zimbabwe to use IMF funds to support beleaguered Zimdollar
THE government will hold back $500m of the $961m IMF funds to support the currency which has plunged.Zimbabwe will use more than half of the $961 million allocated by the International Monetar...Published: 25 Aug 2021 at 18:37hrs | 1304 | by Staff reporter
Looting concerns abound over US$1bn IMF windfall
Zimbabwe on Monday received a whopping US$961 million, its allocation under the International Monetary Fund (IMF)'s US$650 billion Special Drawing Rights (SDR) amid fears of abuse largely due to the c...Published: 25 Aug 2021 at 06:47hrs | 1139 | by Staff reporter
Zimbabwe to borrow from private creditors to pay evicted white farmers
ZIMBABWE is considering borrowing money directly from private investors to fund the first half of a $3.5 billion (R52 billion) compensation agreement with white farmers whose land was seized two decad...Published: 16 Aug 2021 at 17:09hrs | 460 | by Bloomberg
Bulawayo Zupco drivers call off strike
ZUPCO commuter omnibus drivers, who downed tools in Bulawayo on Wednesday, protesting over outstanding salaries have returned to work after the public transport company partpaid the arrears.Th...Published: 13 Aug 2021 at 07:05hrs | 797 | by Staff reporter
Landlord removes tenant's eye over US$3 rental arrears
Brian Karemba (40) says he will forever regret the day he rented a room at Gift Kazembe who turned villain and gouged out his eye over US$3 rent arrears.This comes as some landlords are also r...Published: 10 Aug 2021 at 07:47hrs | 636 | by Staff reporter
Government reclaims 220 mining claims in Matabeleland South
THE Government has forfeited about 220 small-scale mining claims in Matabeleland South Province over non-payment of inspection fees.In a circular seen by Sunday Business, the Ministry of Mines...Published: 08 Aug 2021 at 07:23hrs | 212 | by Staff reporter
Gwanda Town Water supply to be reconnected tomorrow morning
WATER supply in Gwanda Town is expected to have been reconnected latest by tomorrow morning.In an interview, Gwanda Municipality Mayor, Councillor Njabulo Siziba said the local authority had e...Published: 03 Aug 2021 at 18:59hrs | 199 | by Staff reporter
Zinwa disconnects Beitbridge
The Zimbabwe National Water Authority (Zinwa) on Friday disconnected water supply to Beitbridge town over a $65 million debt. Zinwa had revised Beitbridge Municipality's debt to $65 million af...Published: 02 Aug 2021 at 07:34hrs | 67 | by Staff reporter
Zimbabwe ranked second least happy country in the world
The 2021 World Happiness Report is out, and Zimbabwe ranked one step above Afghanistan, the world’s unhappiest country in the world. A total of 149 countries made the pool of countries that were ran...Published: 31 Jul 2021 at 20:02hrs | 2080 | by Tafara Mtutu
Zinwa disconnects water supply to Gwanda town
THE Zimbabwe National Water Authority (Zinwa) has disconnected water supply to Gwanda Municipality over a $193 million debt, leaving residents from the mining town with no water.Zinwa has emba...Published: 30 Jul 2021 at 13:31hrs | 350 | by Staff reporter
Zimbabwe makes token payments to clear foreign debt
ZIMBABWE has started making token payments to service the country's foreign debt with the Treasury channelling about US$17 million in the first quarter of 2021 towards clearing the arrears owed to dif...Published: 30 Jul 2021 at 07:26hrs | 143 | by Staff reporter
Mwonzora flees party HQ
THE cash-strapped Douglas Mwonzora-led opposition MDC-T party has been forced to shut down its offices at the Morgan Richard Tsvangirai House after the Harare City Council cut water supplies over unpa...Published: 29 Jul 2021 at 07:33hrs | 9984 | by Staff reporter
Court orders Tongaat, Rukatya to pay commercial farmer $US1,4m
HIGH Court judge Justice Webster Chinamora has ordered sugar producers Tongaat Hullet and businessman Isaac Rukatya, to pay US$1,4 million plus legal costs to a Chiredzi commercial farmer, Tony Renato...Published: 27 Jul 2021 at 07:21hrs | 2123 | by Staff reporter
Challenges facing Zimbabwe's foreign exchange auction
IT is clear that the auction for foreign exchange is in trouble. The arrears now stand at over US$200 million. That is equivalent to nearly Z$18 billion and the delays are having a serious impact on c...Published: 27 Jul 2021 at 07:16hrs | 1052 | by Eddie Cross
MDC Alliance using unorthodox means to fundraise
The MDC Alliance has embarked on using unorthodox means to fundraise to keep the party afloat as the embattled opposition party's coffers are reportedly dry on account of donor fatigue.An impe...Published: 22 Jul 2021 at 15:39hrs | 658 | by Political Reporter
Zimra executives in US$585m tax evasion corruption scam
CORRUPTION skeletons involving a series of multi-billion-dollar tax evasion scandals are tumbling out of the Zimbabwe Revenue Authority (Zimra) cupboard amid a new corruption scam involving Chinese di...Published: 20 Jul 2021 at 11:17hrs | 3132 | by Staff reporter
Fleet of baby mamas leave Peter Ndlovu penniless
MAMELODI Sundowns team manager and former Zimbabwean footballer Peter Ndlovu has fathered 13 children with different women and is supporting them with the R130 000 monthly salary from the Brazilians....Published: 12 Jul 2021 at 07:44hrs | 7936 | by Staff reporter
CSC investor starts abattoir refurbishment
UNITED Kingdom-based Cold Storage Commission (CSC) investor, Boustead Beef Limited, last week began refurbishing the company's abattoir in preparation for its re-opening, Southern Eye can reveal....Published: 12 Jul 2021 at 07:42hrs | 1326 | by Staff reporter
Zimbabwe should refuse to repay colonial debt
THE Zimbabwean government is currently engaging with its creditors in order to reduce its external debt burden.Economic watchers argue that the country would be justified in repudiating the de...Published: 10 Jul 2021 at 10:56hrs | 309 | by Kudakwashe Matiza
BCC hails residents for paying bills
BULAWAYO City Council (BCC) has applauded its residents for paying their bills amid indications that the local authority was now collecting 70% of the total billing, the council minutes show.A...Published: 09 Jul 2021 at 12:15hrs | 217 | by Staff reporter
Man loses US$90 000 in tax clearance deal
A HARARE man lost more than US$90 000 in a deal to supposedly help him clear tax arrears with the Zimbabwe Revenue Authority (Zimra).Three suspects Tsungai Mazanhi (33), Tawanda Walter Maching...Published: 03 Jul 2021 at 10:17hrs | 638 | by Staff reporter
Man loses US$90K in tax clearance deal
A HARARE man lost more than US$90 000 in a deal to supposedly help him clear tax arrears with the Zimbabwe Revenue Authority (Zimra).Three suspects Tsungai Mazanhi (33), Tawanda Walter Maching...Published: 03 Jul 2021 at 07:39hrs | 854 | by Staff Reporter
TelOne targets to recover US$8m
INFORMATION Communication Technology, Postal and Courier Services minister Jenfan Muswere says state-run telecommunications firm, TelOne, must recover the ZW$720 million (US$8,42 million) owed by cust...Published: 02 Jul 2021 at 19:34hrs | 254 | by Staff reporter
Zimbabwe won't get international Covid-19 rescue package
ZIMBABWE will not receive a dime from a multi-billion-dollar facility organised by international financial institutions which seeks to help countries of the global South in dealing with the socio-econ...Published: 19 Jun 2021 at 15:03hrs | 1006 | by Staff reporter
IMF projects 6% growth for Zimbabwe
THE International Monetary Fund (IMF) has predicted that Zimbabwe's economy will grow by 6% this year, but warned that uncertainty remains high and the outlook will depend on the Covid-19 pandemic's e...Published: 18 Jun 2021 at 13:07hrs | 509 | by Staff reporter
IMF rules out Zimbabwe bailout
Fund International Monetary Fund (IMF) on Wednesday said it would not move an inch from its position that Zimbabwe did not qualify for financial bailouts even after clearing its debts to the global le...Published: 18 Jun 2021 at 07:24hrs | 1401 | by Staff reporter
MDC factions have bungled in running Harare
The MDC Alliance (MDC-A) faction leader, Nelson Chamisa, uses every opportunity he gets to pontificate about smart cities each time he has to talk of Zimbabwe's urban areas.Given the fact that...Published: 14 Jun 2021 at 06:17hrs | 433 | by Nobleman Runyanga
Legislators raise forex alarm
MPs have raised alarm over delays in foreign currency payments to companies under the Reserve Bank of Zimbabwe auction facility saying it was taking up to two months for them to get their dues....Published: 11 Jun 2021 at 07:31hrs | 933 | by Staff reporter
RBZ steps up liquidity mopping
The Reserve Bank of Zimbabwe (RBZ)'s decision to trade non-negotiable certificates of deposits in exchange for excess liquidity held by local financial institutions is in line with authorities' contra...Published: 11 Jun 2021 at 06:28hrs | 253 | by Staff reporter
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