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Bulawayo under lockdown
Bulawayo has effectively been put under lockdown after Cabinet yesterday approved that three districts that are Covid-19 hotspots be placed under localised lockdown, with security details being deploy...Published: 19 hrs ago | 1454 | by Staff reporter
Schools opening deferred as COVID-19 cases surge
CABINET yesterday deferred the opening of schools for the second term by two weeks after the country recorded a sharp increase in COVID-19 infections in recent weeks.The infection rate surged ...Published: 20 hrs ago | 616 | by Staff Reporter
Bona Mugabe's hubby off the hook
THE late former President Robert Mugabe's son-in-law Simbarashe Mutsahuni Chikore was yesterday acquitted of criminal abuse of office charge in a matter where he was accused of signing a memorandum of...Published: 22 Jun 2021 at 17:02hrs | 892 | by Staff reporter
Cost of living hits $40 680
THE cost of living for a family of six surged by 13,4% to $40 680 this month, from $35 877 in April following relentless price hikes stemming from currency volatilities and market jitters triggered by...Published: 21 Jun 2021 at 06:04hrs | 1683 | by Staff reporter
Zanu-PF can win elections anytime - survey
Most Zimbabweans would vote for Zanu-PF in any elections from now with measures taken by the Government to curb the spread of Covid-19 also resonating with the population, a survey by Afrobarometer re...Published: 21 Jun 2021 at 06:00hrs | 479 | by Staff reporter
Chamisa ally to lose stand
EMBATTLED former Bulawayo Deputy Mayor, Mr Tinashe Kambarami is set to lose an industrial stand barely two weeks after councillors endorsed a resolution awarding it to a company he co-owns with his wi...Published: 20 Jun 2021 at 07:20hrs | 762 | by Staff reporter
High Court Sheriff under probe
THE Zimbabwe Anti-Corruption Commission (ZACC) has launched investigations into High Court Sherriff McDuff Madega over several cases in which he is alleged to have illegally sold properties attached b...Published: 20 Jun 2021 at 07:16hrs | 519 | by Staff reporter
CIO big shot behind Malunga farm grab
A TOP Zimbabwean Central Intelligence Organisation (CIO) director and senior ruling Zanu-PF officials in Matabeleland North province are behind the illegal seizure of a farm belonging to a local inter...Published: 19 Jun 2021 at 15:07hrs | 4362 | by Staff reporter
Auction market cannot end the parallel market
Despite launching the Dutch inspired Foreign Currency Auction System (FCAS) in June 2020 (Almost 1 year running), the Zimbabwean economy continues to face acute foreign currency shortages on the forma...Published: 19 Jun 2021 at 08:52hrs | 1014 | by Port Louis Riverfront, Mauritius
Firms fingered in abusing forex auction fight back
COMPANIES which were this week accused by the Reserve Bank of Zimbabwe (RBZ) of abusing the funds obtained from the foreign currency auction market have strongly refuted the allegations and are seekin...Published: 18 Jun 2021 at 13:03hrs | 1474 | by Staff reporter
Has the Zimbabwe dollar really stabilised against the US unit?
There is a strong debate among economic analysts pertaining to whether the Zimbabwean dollar (ZW$) has stabilised against the American dollar (US$) or not. There is a section which believes that the l...Published: 18 Jun 2021 at 13:00hrs | 708 | by Respect Gwenzi
Zimbabwe financial sector heads for crisis
THE financial services sector is headed for a major crisis, with bankers now saying they are struggling to manage their balance sheets following the Reserve Bank of Zimbabwe (RBZ)'s decision to compel...Published: 18 Jun 2021 at 12:58hrs | 811 | 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 | 1251 | by Staff reporter
Gold mine hits 300kg mark in one month
MINING giant, Freda Rebecca Gold Mine has set a new record after it produced 300 kilogrammes of gold in May this year, a figure which was last recorded 20 years ago.Freda Rebecca Gold Mine is ...Published: 17 Jun 2021 at 06:13hrs | 1414 | by Staff reporter
Govt to raise $30bn through Treasury Bills, bonds
Zimbabwe plans to raise $30 billion through the issuance of Treasury Bills and bonds to finance its 2021 budget deficit, the Government debt plan show. Treasury bonds and Treasury Bills are all ...Published: 17 Jun 2021 at 06:08hrs | 184 | by Staff reporter
RBZ goes for broke: names, shames forex abusers
THE Reserve Bank of Zimbabwe (RBZ) yesterday escalated plans to punish "outliers" including listed milling giant, National Foods, which it said were "abusing" foreign currency acquired through the auc...Published: 16 Jun 2021 at 08:29hrs | 2342 | by Staff reporter
18 forex abusers to pay penalties
The Reserve Bank of Zimbabwe yesterday listed the first 18 firms facing civil penalties under the new Statutory Instrument 127 after being caught abusing the foreign exchange auction system, with Zimb...Published: 16 Jun 2021 at 08:16hrs | 692 | by Staff reporter
RBZ names companies abusing foreign exchange auction system
THE Reserve Bank of Zimbabwe has named 18 companies that have been abusing the foreign exchange auction system. The RBZ released a statement and said the companies that were found out by the F...Published: 15 Jun 2021 at 18:21hrs | 1133 | by Staff reporter
Police warn new Covid-19 regulation violators
POLICE have warned members of the public against violating the new Covid-19 lockdown regulations, which have banned public gatherings among other measures.Vice-President and Health and Child C...Published: 14 Jun 2021 at 17:51hrs | 943 | by Staff reporter
Chamisa's fired ally allocated cheap industrial stand by Bulawayo City Council
THE uproar that resulted in former Bulawayo deputy mayor, Mr Tinashe Kambarami attempting to bulldoze a full council meeting despite his recalling has been exposed as a "mere smokescreen", as during t...Published: 13 Jun 2021 at 19:58hrs | 1241 | by Staff reporter
Chiwenga announces stricter COVID-19 enforcement measures
ZIMBABWE MINISTRY OF HEALTH AND CHILD CARE PRESS STATEMENT BY THE HONOURABLE VICE PRESIDENT OF THE REPUBLIC OF ZIMBABWE AND MINISTER OF HEALTH AND CHILD CARE: 12 JUNE 2021 MEASURES TO CURB THE...Published: 12 Jun 2021 at 20:04hrs | 1823 | by Dr Constantino Guveya Dominic Nyikadzino Chiwenga
Delta red-flags Zimbabwe policies
ZIMBABWE Stock Exchange (ZSE)-listed beverages manufacturer, Delta Corporation yesterday added its voice to growing concerns over policy inconsistency and currency volatility in the country, saying th...Published: 11 Jun 2021 at 07:39hrs | 783 | by Staff reporter
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 | 916 | by Staff reporter
Zimbabwe suffers US$300m trade deficit
ZIMBABWE suffered a US$300 million trade deficit during the first quarter of 2021, as imports continued to dominate the value of goods exported by the country, data from the Ministry of Finance and Ec...Published: 11 Jun 2021 at 06:36hrs | 308 | 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 | 236 | by Staff reporter
OK suffers write-downs as crisis deepens
REVENUES at the Zimbabwe Stock Exchange-listed retail giant, OK Zimbabwe Limited came off slightly to $34,3 billion during the year ended March 31, 2021 as consumer spending came under pressure as a r...Published: 10 Jun 2021 at 06:35hrs | 998 | by Staff reporter
56 Rusape resettled farmers spared eviction
THE 56 Rusape farmers, who were facing eviction from Nyamasanga Farm in Makoni district, yesterday heaved a sigh of relief after government decided to compensate Bongani Mlambo, the original farm owne...Published: 10 Jun 2021 at 06:29hrs | 405 | by Staff reporter
Official exchange rate slightly eases to 1:85
THE Zimbabwe dollar has eased to trade at 85,07 against the United States dollar at this week's foreign currency auction from 84,76 last week.According to data provided by the Reserve Bank of ...Published: 09 Jun 2021 at 18:19hrs | 197 | by Staff reporter
Farmers call for ban on private cattle sales
LIVESTOCK farmers from Matabeleland South Province have called on the Government to set a standard price for a beast and abolish private cattle sales as buyers are underpaying them for their animals....Published: 08 Jun 2021 at 06:36hrs | 541 | by Staff reporter
Police shoot most wanted robber
A SUSPECTED notorious armed robber, who is part of a gang led by Musa Taj Abdul, is nursing wounds at Sally Mugabe Central Hospital in Harare after being shot by police while attempting to flee....Published: 08 Jun 2021 at 06:32hrs | 831 | by Staff reporter
Zimbabwe records $9,8bn budget surplus
ZIMBABWE recorded a budget surplus amounting to $9,8 billion in the first quarter of 2021 on the back of continued fiscal consolidation measures and sustained macro-economic stability, Finance and Eco...Published: 08 Jun 2021 at 06:29hrs | 212 | by Staff reporter
Constituency petitions Biti to account for CDF
Residents of Harare East are up in arms against their legislator, Mr Tendai Biti, over alleged misappropriation of the Constituency Development Fund (CDF).Members of Parliament, Mr Bit include...Published: 07 Jun 2021 at 22:44hrs | 900 | by Staff reporter
DRC ambassador in RBZ forex allocation scandal
IN a development that could set tongues wagging, the Reserve of Zimbabwe (RBZ) has named Democratic Republic of Congo (DRC) ambassador to Zimbabwe Mawampanga Mwana Nanga (pictured) as one of the top b...Published: 06 Jun 2021 at 18:32hrs | 1427 | by Staff reporter
Govt to ban firms from forex auctions over 'rampant abuse'
ZIMBABWE has threatened to ban traders from the country's foreign-exchange auction platform for exploiting the gap between black-market and official currency prices.Authorities are dealing wit...Published: 06 Jun 2021 at 17:48hrs | 510 | by Bloomberg
Mangudya plays down forex crisis
RESERVE Bank of Zimbabwe (RBZ) governor John Mangudya has down-played fears of an industrial bloodbath in the aftermath of government's move two weeks ago to effect far reaching reforms to stem the ab...Published: 06 Jun 2021 at 10:00hrs | 1007 | by Staff reporter
Zimbabwe forex rules 'a tragedy of good intentions'
LAST week's promulgation of Statutory Instrument 127 of 2021, which penalises issuance of local currency receipt for foreign currency purchases and pricing goods above the official auction rate, among...Published: 06 Jun 2021 at 09:59hrs | 267 | by Staff reporter
Business has learned nothing and forgot nothing
SO there was this prominent businessman-cum-pastor who was obsessed with religiously lampooning politicians as occultic during his daily sermons.Preaching from his moral high horse, the raboni...Published: 06 Jun 2021 at 09:50hrs | 84 | by Bishop Lazarus
Mthuli Ncube to hold business indaba
GOVERNMENT will soon engage industry to discuss the rationale behind the recent spate of price increases which followed the promulgation of Statutory Instrument 127 of 2021.The SI was introduc...Published: 06 Jun 2021 at 09:48hrs | 96 | by Staff reporter
Zimbabwe fuel prices slashed
ZIMBABWE Energy Regulatory Authority (ZERA) Saturday announced the reduction of fuel prices as the country inflation continues to tumble on the back of the government economic reforms.The sout...Published: 05 Jun 2021 at 19:12hrs | 4700 | by Staff reporter
RBZ mulls more stringent currency measures
GOVERNMENT is looking at adding more stringent currency measures to rein in the runaway exchange rate amid an outcry over the promulgation of Statutory Instrument 127 which business says will fuel inf...Published: 05 Jun 2021 at 09:20hrs | 1155 | by Staff reporter
Zanu-PF cajoles business for support
THE ruling party Zanu-PF says businesses owe President Emmerson Mnangagwa votes in the 2023 elections since his policies are responsible for their success and they should repay by supporting the presi...Published: 05 Jun 2021 at 09:17hrs | 147 | by Staff reporter
Giant Kariba houseboat up for sale
ONE of Zimbabwe's biggest luxury houseboat, the Zambezi Trader, is set to be sold to the highest bidder in a development that has sent shock waves in the tourism industry.Is it the Covid...Published: 04 Jun 2021 at 06:59hrs | 866 | by Staff reporter
Short term risks for Zim economy
The Zimbabwean economy is expected to register modest growth this year after 2 years of successive decline when currency changes, high inflation, extreme weather conditions and COVID-19 downturn wreck...Published: 03 Jun 2021 at 20:26hrs | 693 | by Victor Bhoroma
2021 Mid-Term Budget Expectations
Zimbabwe's mid-term budget for 2021 is expected to be presented in the beginning of July amid encouraging signs of economic recovery in the last 12 months. The country is undergoing a period of relati...Published: 03 Jun 2021 at 20:21hrs | 689 | by Victor Bhoroma
No need to compare Tendai Biti and Prof Mthuli Ncube
Following the recently introduced Statutory Instrument number 127 of 2021, where government has instructed the business community to use the Reserve Bank of Zimbabwe (RBZ) auction floor exchange rate,...Published: 03 Jun 2021 at 20:13hrs | 1659 | by Mukachana Hanyani
RBZ, business set for showdown over Statutory Instrument 127 of 2021
The Confederation of Zimbabwe Industries (CZI) wants the government to suspend the "heavy handed" decree promulgated last week as it has the potential to kill market confidence. Statutory Inst...Published: 03 Jun 2021 at 08:38hrs | 2946 | by Staff reporter
Cooking oil shortage looms
Zimbabwe should brace for a shortage in cooking oil following a 60% increase in crude oil prices in the international markets to US$1650 per tonne and the failure by oil expressers to get the bulk of ...Published: 03 Jun 2021 at 08:35hrs | 2281 | by Staff reporter
Tobacco injects US$325 into the Zimbabwean economy
TOBACCO sales had injected US$325 million into the economy on the 35th day of this marketing season, Tobacco Industry and Marketing Board (TIMB) data showed yesterday.The sector had generated ...Published: 02 Jun 2021 at 07:17hrs | 335 | by Staff report
Zimdollar trades unchanged
The Zimbabwe dollar will this week trade largely unchanged against the US dollar at $84,76 from $83,72 last week following yesterday's Reserve Bank of Zimbabwe (RBZ) foreign currency auction, as use o...Published: 02 Jun 2021 at 07:04hrs | 741 | by Staff reporter
Zimbabwe forex deposits hit $108 billion
FOREIGN currency deposits held across the banking sector have increased to $108 billion under clear signs the prevailing economic stability has contributed to the upturn.The latest Reserve Ban...Published: 31 May 2021 at 18:56hrs | 1814 | by Staff reporter
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