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Chiyangwa transactions haunt new Zifa executive
AN attempt by the former Zifa board led by Philip Chiyangwa to shield assets owned by the football mother body from being sold to cover its debts has come to haunt the current leadership after the Hig...Published: 18 Apr 2019 at 07:09hrs | 575 | by Staff reporter
Tobacco income down 76%
TOBACCO sales have generated $19,4 million in the first 17 days of the marketing season this year compared to $81 million realised over the same period last year, statistics from the industry regulato...Published: 15 Apr 2019 at 06:49hrs | 1152 | by Staff reporter
Mnangagwa fumes
PRESIDENT Emmerson Mnangagwa yesterday warned retailers and companies against "unjustified" price increases which he said had brought untold suffering to ordinary Zimbabweans.Incidentally, as ...Published: 12 Apr 2019 at 08:24hrs | 13359 | by Staff reporter
Zimbabwe tobacco sales plummet 85%
Zimbabwe's tobacco sales have plunged 85% with deliveries reaching only 1,6 million kg in the first 10 days of trade compared to the 10,9 million kg sold last year, statistics from the industry regula...Published: 05 Apr 2019 at 07:14hrs | 1331 | by Staff reporter
Police to auction lost property
THE Zimbabwe Republic Police (ZRP) is tomorrow set to auction unclaimed property in Harare.In a notice, KM Auctions said it has been instructed by the ZRP to auction property which includes, b...Published: 02 Apr 2019 at 13:33hrs | 771 | by Staff reporter
James Makamba's empire crumbles
PROMINENT businessman Mr James Makamba's empire seems to be crumbling after the High Court placed his Kestrel Corporation under provisional judicial management as Mr George Manyere fights to recover h...Published: 30 Mar 2019 at 22:40hrs | 692 | by Staff reporter
Reserve Bank of Zimbabwe betrays tobacco farmers
Tobacco sales floors were officially opened but farmers are frustrated and angry with the demeanour of the government. The Reserve Bank of Zimbabwe prior to the opening of the floors promised th...Published: 30 Mar 2019 at 18:04hrs | 1890 | by Matora Hupile
Govt, Zimra authorities in standoff over 2% tax
A standoff - which disrupted the start of the tobacco marketing season last week - has erupted between the Finance Ministry and the Zimbabwe Revenue Authority (Zimra) over the operationalisation of th...Published: 29 Mar 2019 at 12:07hrs | 1594 | by Staff reporter
Zimbabwe tobacco farmers hold firm to their crop
Tobacco farmers have continued to hold on to their crop amid reports that they have only delivered less than 10% of the golden leaf in the first five days of trading this year, citing poor prices and ...Published: 28 Mar 2019 at 07:48hrs | 1611 | by Staff reporter
'US$45m traded on the interbank forex market over past 3 weeks'
THE Reserve Bank of Zimbabwe (RBZ) governor John Mangudya says US$45 million has been traded over the past three weeks of the interbank forex market, a 25% increase in the average weekly trades compar...Published: 28 Mar 2019 at 07:24hrs | 964 | by Staff reporter
'RTGS$ a failed fraud' Tendai Biti says
Former Finance Minister Tendai Biti says the recently introduced RTGS$ currency has failed to maintain a steady exchange rate thereby affecting people's savings. "The RTGS$ is a failed fraud. ...Published: 26 Mar 2019 at 06:56hrs | 6012 | by Mandla Ndlovu
Mthuli Ncube scraps 2% tax on tobacco floors activities, normalcy returns
Activities at the country's Tobacco Auction Floors are expected to improve this week following the scrapping of the 2 percent electronic transfer tax on all activities being done at the country's toba...Published: 25 Mar 2019 at 22:50hrs | 2671 | by Staff reporter
Ncube, Shiri summoned over tobacco auction ruckus
PARLIAMENT has summoned Finance and Agriculture ministers to come and clear the air on why government has gone back on promises to pay tobacco farmers 50% of their earnings in United States dollars....Published: 25 Mar 2019 at 07:03hrs | 1484 | by newzimbabwe.com
Afreximbank grants Zimbabwe interbank forex trade loan
Cairo-based Africa Export and Import Bank (Afreximbank) has extended an undisclosed amount in lines of credit to Zimbabwe's interbank foreign exchange trading to stabilise the forex supply...Published: 24 Mar 2019 at 18:55hrs | 2911 | by Staff reporter
Zimbabwe's first black woman to get driver’s licence
JOANNA Sibanda's life has been one long series of firsts and she is not shy to tell anyone who cares to listen. When one visits her warm home, she speedily unearths a stash of certificates and...Published: 23 Mar 2019 at 22:25hrs | 5450 | by Staff reporter
Tobacco sales proceeds are not for harlots
Now that the tobacco selling season has been opened, some urban yellow-bone thigh vendors are buying bigger wallets and fine tuning their 'horizontal wrestling' skills in order to wrench a dollar or t...Published: 21 Mar 2019 at 19:06hrs | 244 | by Thomas Murisa
Buyers bring in $1 billion to buy golden leaf
International tobacco buyers have mobilized US$1 billion to buy the country's golden leaf crop this year, a move expected to boost foreign currency inflows in the country. The 2019 tobacco mar...Published: 21 Mar 2019 at 07:53hrs | 1188 | by Staff reporter
'Interbank market won't be manipulated'
Mechanisms have been put in place to ensure that the foreign currency interbank market will not be manipulated, Finance and Economic Development Minister Professor Mthuli Ncube has said. This ...Published: 19 Mar 2019 at 06:25hrs | 337 | by Staff reporter
Mugabe's ex-deputy minister's house auctioned off
Former Health and Child Care deputy minister Edwin Muguti is set to lose his house over rental arrears owed to Joyce Mako-Mashaninga.Last year, the court handed a default judgment after Muguti...Published: 18 Mar 2019 at 13:46hrs | 4070 | by Staff reporter
Artisanal miners wreak havoc at Mazowe mine
Illegal gold miners are reportedly causing havoc at Mazowe mine, popularly known as jumbo mine, by practising illegal mining and causing serious land degradation at the mine after the mine downsized o...Published: 18 Mar 2019 at 07:04hrs | 972 | by Simbarashe Sithole
Chinamasa's wife implicated in tobacco cartels
THE Tobacco Association of Zimbabwe (TAZ) yesterday alleged corruption in the tobacco industry, with Tobacco Industry Marketing Board (TIMB) board chairperson Monica Chinamasa's name coming out promin...Published: 13 Mar 2019 at 06:59hrs | 1144 | by Staff reporter
Trevor Ncube apologises to Zimbabweans
Alpha Media Holdings Boss Trevor Ncube has apologised to Zimbabweans over a story that appeared on Newsday saying RTGS$ to devalue further.Newsday quoted Reserve Bank of Zimbabwe (RBZ) governo...Published: 12 Mar 2019 at 17:00hrs | 10019 | by Mandla Ndlovu
Tobacco season to begin next week
ZIMBABWE'S 2019 tobacco marketing season will start on March 20, the industry's regulator has said.Tobacco is the country's second biggest export earning commodity after gold.Last year...Published: 12 Mar 2019 at 06:04hrs | 435 | by Staff reporter
RTGS dollar to devalue before tobacco auction - Mangudya
Reserve Bank governor John Mangudya on Monday said the exchange rate for the new transitional currency is unlikely to remain at 2.5 per U.S. dollar by the time tobacco auctions open next week, suggest...Published: 12 Mar 2019 at 05:54hrs | 2415 | by Reuters
'Black market can't determine forex rates'
Government cannot allow itself to be influenced by the black market in determining foreign exchange rates on interbank transactions as the parallel market is run by a few individuals transacting on no...Published: 12 Mar 2019 at 05:44hrs | 414 | by Staff rpeorter
'Inter-bank trades US$12m weekly'
The inter-bank foreign exchange market is averaging trades of US$12 million weekly, three weeks after its introduction, Reserve Bank of Zimbabwe (RBZ) governor Dr John Mangudya told Parliamentarians y...Published: 12 Mar 2019 at 05:43hrs | 179 | by Staff reporter
Billions missed through raw tobacco exports
Zimbabwe prepares for the opening of the 2019 Tobacco Marketing season set to start on the 21st of March, the local market is hyped up in anticipation. In 2018, Zimbabwe produced an all-time high of 2...Published: 10 Mar 2019 at 07:10hrs | 693 | by Victor Bhoroma
Fake Zimra official dupes two women of $740
A MAN masquerading as a Zimbabwe Revenue Authority (Zimra) officer allegedly duped two Chipinge women of $740 under the pretext that he would buy them goods on auction at Mt Selinda Border Post....Published: 07 Mar 2019 at 06:58hrs | 621 | by Staff reporter
Kasukuwere's property to be attached?
The State intends to forfeit an immovable property belonging to former Local Government minister Saviour Kasukuwere, which he surrendered as part of his bail conditions after he allegedly fled the cou...Published: 07 Mar 2019 at 06:52hrs | 1951 | by Staff reporter
Mnangagwa's Botswana deal stinks
PRESIDENT Emmerson Mnangagwa, in his inaugural speech following the November 2017 coup that thrust him to power, promised to make State institutions work, unlike his predecessor former President Rober...Published: 27 Feb 2019 at 14:28hrs | 1676 | by Editorial - newsday
Toiling for RTGS dollars: Tale of Zimbabwe farmers
ZIMBABWE'S top major foreign currency earners - tobacco growers - toil and till the soils growing the crop that drives the economy, only for their sweat to be rewarded in real time gross settlement (R...Published: 25 Feb 2019 at 08:23hrs | 2818 | by Staff reporter
Forex parallel market bullish
FOREIGN currency parallel market traders are unfazed by the introduction of the interbank market auction of the real time gross settlement dollars (RTGS$) and have continued trading on the streets wit...Published: 25 Feb 2019 at 08:16hrs | 2670 | by Staff reporter
Zimbabweans should accept that their balances have been devalued by 2.5 times, says Mthuli Ncube
The Reserve Bank of Zimbabwe has set the interbank rate at 2.5 to the US dollar to kick start its auction system. However its ability to sustain it at those levels depends, among others o...Published: 22 Feb 2019 at 15:31hrs | 10963 | by FinX
Monetary policy, a huge leap towards safety
The Reserve Bank of Zimbabwe (RBZ) governor, John Mangudya, yesterday took a huge positive leap towards healing the ailing economy when he devalued the bond note during his Monetary Policy Statement (...Published: 21 Feb 2019 at 21:02hrs | 588 | by Staff reporter
New currency announced
Zimbabwe has introduced a new currency called the RTGS Dollars, the Reserve Bank of Zimbabwe Chief John Panonetsa Mangudya said during the Monetary Policy Statement delivered on Wednesday. ...Published: 20 Feb 2019 at 13:47hrs | 33463 | by Mandla Ndlovu
Ex-army boss evicts 300 families
OVER 300 villagers are now living in the open after they were evicted by a former army general from a farm which reportedly used to be owned by the late Vice-President Joshua Nkomo.The settler...Published: 20 Feb 2019 at 13:47hrs | 1512 | by Staff reporter
Mangudya to present a clear roadmap on currency reforms
The Reserve Bank of Zimbabwe may unveil the measures in its Monetary Policy Statement to be announced on Wednesday, said the official, who asked not to be identified because he's not authorised to spe...Published: 19 Feb 2019 at 16:48hrs | 4517 | by Staff reporter
Mugabe stews in legal bills
FOR over 37 years, former president Robert Mugabe had remained untouchable as many citizens suffered in silence at the hands of the autocratic leader. But when his rule came to a dramatic end nearly t...Published: 18 Feb 2019 at 13:33hrs | 3754 | by Staff reporter
Zimra not auctioning seized vehicles
THE Customs and Excise Department is not in a hurry to auction impounded vehicles worth millions of dollars held at its various ports countrywide despite their depreciation and threats from yet unexpl...Published: 18 Feb 2019 at 07:13hrs | 541 | by Staff reporter
Pre-monitory policy statement expectations
Expectations are high as the market awaits the presentation of the first monitory policy statement (MPS) of 2019 by the Reserve Bank of Zimbabwe in the coming days. The bank knows the weight of hyperi...Published: 17 Feb 2019 at 22:58hrs | 1045 | by Victor Bhoroma
Zimbabwe maize harvest forecast at 900 000t
ZIMBABWE expects to harvest 900 000 tonnes of maize this year. This is an upward revision from the 800 000 tonnes initially forecast but is below the 1.8 million tonnes, the country consumes on an ann...Published: 17 Feb 2019 at 16:40hrs | 1921 | by Staff reporter
Anger at Mnangagwa over CEOs snub
President Emmerson Mnangagwa yesterday cancelled his planned trip to attend the CEO Africa Roundtable in Victoria Falls, amid a worsening economic crisis stirring resentment to his rule.He cit...Published: 17 Feb 2019 at 16:10hrs | 3187 | by Staff reporter
Business complicit in Zimbabwe's economic woes
CHIEF executive officers from across the African continent have been meeting in the resort town of Victoria Falls for the last three days in a bid to find lasting solutions to the economic crisis faci...Published: 15 Feb 2019 at 08:23hrs | 301 | by Staff reporter
Mthuli Ncube, Mangudya in bitter fight over new Zimdollar
PRESIDENT Emmerson Mnangagwa has been forced to intervene in a growing turf war between Reserve Bank of Zimbabwe governor John Mangudya and his boss Finance minister Mthuli Ncube on the path Zimbabwe ...Published: 14 Feb 2019 at 15:51hrs | 19957 | by Staff reporter
Mugabe's minister to lose property
Former Health deputy minister Edwin Muguti has once again drawn the High Court whip as he is set to lose property in a case between him and African Century Limited.In a notice published yester...Published: 13 Feb 2019 at 10:19hrs | 2882 | by Staff reporter
Mangudya in monetary policy fix
DISCORD between Reserve Bank of Zimbabwe (RBZ) governor John Mangudya and Finance minister Mthuli Ncube over policy issues around currency reforms has delayed the presentation of the monetary policy s...Published: 08 Feb 2019 at 08:48hrs | 4078 | by Staff reporter
Afreximbank avails $255m letters of credit to Zimbabwe
The African Export Import Bank (Afreximbank) has availed US$255m letters of credit to Zimbabwe for fuel imports and the production of basic commodities in a bid to ensure adequate input supplies to th...Published: 07 Feb 2019 at 08:06hrs | 2153 | by Staff reporter
Zimra mum on Beitbridge warehouse inferno
THE Zimbabwe Revenue Authority (Zimra) has declined to disclose the value of goods lost in three fire incidents in which its warehouses at Beitbridge Border Post were razed to the ground, saying the i...Published: 04 Feb 2019 at 19:13hrs | 986 | by Staff reporter
Who will inherit Mtukudzi's vast empire?
A wife, four daughters with three different mothers, an unrecognised son with a birth certificate, and a rebutted daughter who made headlines seeking to be recognised.That sums up people with ...Published: 03 Feb 2019 at 11:38hrs | 9130 | by Mtandazo Dube
Firemen struggled to put out Beitbridge Border Post fire
AUTHORITIES at Beitbridge Border Post have started investigating the cause of a fire which razed down a State warehouse and property worth thousands of dollars at the port of entry yesterday. ...Published: 29 Jan 2019 at 23:43hrs | 1899 | by Staff reporter
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