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Access to NMBConnect now free on Econet lines
Econet customers can now access NMBConnect, NMB Bank's Digital Branch, free of data costs. This was announced today by NMB Bank chief executive Ben Washaya, who said work was underway to conclude a si...Published: 12 hrs ago | 224 | by Agencies
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
Sanctions: The unfair comparison between Zimbabwe and Rhodesia
MANY Zimbabweans often bring up the comparison between Rhodesian and Zimbabwean sanctions to drive the narrative that Rhodesia had more stringent sanctions that they managed better than Zimbabwe is ma...Published: 11 Jun 2021 at 06:35hrs | 586 | by Rutendo Bereza Matinyarare
Mobile money platforms propel digital economy higher
Zimbabwe has been ranked high in the digital economy given its widespread use of mobile money platforms, online banking and international activity, according to a World Bank commissioned Digital Econo...Published: 09 Jun 2021 at 07:11hrs | 117 | by Staff reporter
Holiday lessons at schools banned
Holiday lessons at schools banned Information Publicity and Broadcasting Services Minister Senator Monica Mutsvangwa addresses a post-Cabinet media briefing in Harare yesterday while Chief Secretary t...Published: 09 Jun 2021 at 07:09hrs | 225 | 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 | 1116 | 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 | 688 | by Victor Bhoroma
Banks turn back on Zimbabwe tourism sector
Zimbabwe's battered tourism industry is facing an imminent viability crisis as local banks are walking away from funding the ailing sector, Business Times reported.The ravages of the Covid-19 ...Published: 03 Jun 2021 at 08:37hrs | 727 | by Staff reporter
Mnangagwa, Chamisa rush to assist stranded Mpilo doctors
PRESIDENT Emmerson Mnangagwa's administration has committed $287 million towards the construction of new accommodation for doctors at Mpilo Central Hospital in Bulawayo after their living quarters wer...Published: 02 Jun 2021 at 18:43hrs | 688 | 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 | 1811 | by Staff reporter
Residents on shoot to kill
POLICE in Bulawayo are today expected to hold a crunch meeting with local business to strategise on how to deal with the increase in armed robberies in the city, while residents have called for a shoo...Published: 31 May 2021 at 06:37hrs | 1444 | by Staff reporter
Cops meet over surge in robberies
POLICE in Bulawayo are today expected to hold a crunch meeting with local business to strategise on how to deal with the increase in armed robberies in the city, while residents have called for a shoo...Published: 31 May 2021 at 06:36hrs | 327 | by Staff reporter
Mnangagwa forex rules trigger chaos
President Emmerson Mnangagwa's move to introduce a host of changes that effectively banned the use of foreign currency in local transactions has left business in panic mode amid fears of steep price i...Published: 30 May 2021 at 09:14hrs | 5502 | by Staff reporter
Gamecocks square off with Bosso
THE prolonged absence of football had really become a fuss for Joey "Mafero" Antipas, the Premier Soccer League's reigning Coach of the Year.A frustrated Antipas even sought solace from one of...Published: 30 May 2021 at 08:29hrs | 66 | by Staff reporter
Highlanders register two players ahead of Chicken Inn clash
HIGHLANDERS have been boosted by the registration of Rodi Sibanda as well as Pritchard Mpelele ahead of their tricky Chibuku Super Cup Group 2 clash with ...Published: 30 May 2021 at 07:37hrs | 603 | by Staff Reporter
Nebank bankrolls Sables' WC quest
NEDBANK Zimbabwe has pledged to play a leading role in ensuring the Sables achieve their goal of qualifying for the 2023 Rugby World Cup after being unveiled as the new headline sponsors of the senior...Published: 28 May 2021 at 08:01hrs | 262 | by Staff reporter
7 trunks full of cash stolen in Bulawayo
The sloppiness of a cash-in-transit security crew in Bulawayo yesterday resulted in armed robbers getting away with seven trunks full of cash which was due for banking.It could not be ascertai...Published: 28 May 2021 at 07:42hrs | 2060 | by Staff reporter
RBZ's $389m headache
The Reserve Bank of Zimbabwe (RBZ) will today disburse $66 million owed to cotton farmers with bank accounts for the crop delivered to Cottco last season, followed by $436,6 million to be paid via mob...Published: 28 May 2021 at 07:36hrs | 172 | by Staff reporter
Banks to roll out incentives for depositors
The Reserve Bank of Zimbabwe and the banking sector are coming up with the nuts and bolts of interest payments on demand deposits to encourage people to deposit money in banks, rather than bury it und...Published: 26 May 2021 at 06:19hrs | 499 | by Staff reporter
CBZ to list on Victoria Falls Stock Exchange
CBZ Holdings Ltd., the biggest bank in Zimbabwe, plans to list on the US dollar-denominated stock exchange in Victoria Falls, as part of efforts to ignite foreign interest in the lender.The fi...Published: 22 May 2021 at 08:34hrs | 638 | by Bloomberg
Zesa warns of vending system glitches
THE Zimbabwe Electricity Transmission and Distribution Company (ZETDC) has said that the prepaid electricity vending system could experience technical glitches between tomorrow and Friday because the ...Published: 19 May 2021 at 06:53hrs | 894 | by Staff reporter
A look into the incentives for exports and investment growth 'Exporting retention changes'
On the 10th of May 18, 2021, Hon Prof Mthuli Ncube published a statement on incentives for exports and investment growth, which changed the exporting companies’ retention threshold. Prima facie, the...Published: 18 May 2021 at 11:20hrs | 1133 | by Tryson G Dube
US$120m forex allotments backlog cleared
The bulk of the US$120 million backlog in the foreign currency auction allotments has been cleared with the Reserve Bank of Zimbabwe (RBZ) last week releasing US$100 million, Governor Dr John Mangudya...Published: 18 May 2021 at 06:41hrs | 365 | by Staff reporter
Keeping your data locked down: how do websites keep your personal data secure?
Although the rise of the digital economy has been underway for quite some time, it seems that in the last year or so the global transition to a fully digital, near cashless society has increased signi...Published: 17 May 2021 at 14:35hrs | 250 | by Staff Writer
Zimbabwean banks in strong position to fund economy
Fundamentals in the financial services sector have improved over the past few years, with the sector poised to bankroll local economic activity, the central bank has said.Bank failures that pl...Published: 09 May 2021 at 08:01hrs | 160 | by Staff reporter
Privatization plans off rails
In November 2018, the Zimbabwean government set out a privatization plan to dispose completely and partially privatize over 23 state entities and parastatals (SEPs). According to the Auditor General R...Published: 07 May 2021 at 15:41hrs | 1119 | by Victor Bhoroma
Zimra workers in $50m VAT fraud
FOUR Zimra employees allegedly defrauded the authority of almost $50 million by reactivating four dormant companies in the Zimra systems and then claiming large VAT refunds, taking advantage of Zimra'...Published: 07 May 2021 at 06:24hrs | 567 | by Staff reporter
'Zimbabwe has capacity to fund its growth agenda'
Zimbabwe has the capacity to fund its growth agenda, but there is need for financial institutions and cash-rich entities such as pension funds to effectively deploy current savings, according to an ex...Published: 02 May 2021 at 08:10hrs | 193 | by Staff Reporter
'You (VP) work at the mercy of the President' MDC reminded Mnangagwa - that's hen shtick to the eagle
MDC leaders are corrupt, incompetent and sell-outs and, like all cowards, they love being portrayed as courageous fighters. They loved the News Day headline "Mwonzora's senators reject Mnangagwa Bill"...Published: 29 Apr 2021 at 08:20hrs | 2120 | by Patrick Guramatunhu
CBZ threatens job cuts
FINANCIAL services giant CBZ Holdings Limited has resolved to slash its workforce in response to rapid sector changes that have been precipitated by the COVID-19 pandemic and fresh inroads made by dig...Published: 27 Apr 2021 at 08:13hrs | 1088 | by Staff reporter
Grace Mugabe's huge daily cash withdrawals exposed
FORMER first lady Grace Mugabe allegedly made multiple United States dollar cash withdrawals amounting to US$300 000 per day in 2019 from her CBZ Bank account at a time ordinary Zimbabweans were allow...Published: 23 Apr 2021 at 07:31hrs | 12532 | by Staff reporter
'Bureaux de-change to bridge forex needs'
THE Reserve Bank of Zimbabwe (RBZ) has approved the selling of foreign currency to registered bureaux de-change operators for on-selling to their clients as part of measures to increase formal access ...Published: 22 Apr 2021 at 06:15hrs | 509 | by Staff reporter
Unresolved economic issues for 2021
The Zimbabwean economy has experienced a period of relative stability since October 2020, even though multiple reforms have to be implemented to attain sustained economic growth. To a larger extent th...Published: 19 Apr 2021 at 09:05hrs | 654 | by Victor Bhoroma
Zanu-PF MPs cry foul over forex accounts
Zanu-PF legislators say they are finding it increasingly difficult to conduct business because banks are rejecting their applications for foreign currency-dominated accounts citing sanctions by wester...Published: 18 Apr 2021 at 09:28hrs | 2034 | by Staff reporter
Why Zimbabwe must dollarise again
THE Reserve Bank of Zimbabwe (RBZ)'s new Monetary Policy Committee (MPC) hit the ground running on March 26, announcing a raft of policy measures to sustain the fragile stability that has seen inflati...Published: 15 Apr 2021 at 07:32hrs | 3369 | by Taurai Mangudhla
Lawyer's bid to close down digital banking platforms flops
A HARARE lawyer's attempt to have all mobile-based digital banking platforms of FBC Bank closed after an imposter used his name to fraudulently open an account with the bank for criminal activities, f...Published: 14 Apr 2021 at 06:22hrs | 448 | by Staff reporter
Mastercard and Network International Pioneering Africa's digital payment revolution
Civilization has transformed trading and commerce from the prehistoric means which involved barter trades facilitated by the item-to-item exchange. The discrepancies and inconsistencies of goods valu...Published: 12 Apr 2021 at 12:27hrs | 753 | by Staff Writter
We're coming for you: Mnangagwa warns financial sector sharks
GOVERNMENT is going to decisively deal with sharks in the financial sector who are profiteering at the expense of the public, President Mnangagwa has said. In an interview ahead of the country...Published: 12 Apr 2021 at 06:56hrs | 876 | by Staff reporter
'MDC A will boycott 2023 elections' - why now, participated in all since ignoring 2013 SADC boycott plea
"Parties went into the 2018 elections after they had already been rigged as Zanu-PF had implemented cosmetic electoral reforms," wrote Chief Chiduku. He was spot on there.Parties did go into t...Published: 10 Apr 2021 at 06:50hrs | 1868 | by Patrick Guramatunhu
'Zimbabwe's financial sector needs to be harmonised,' says Mangudya
RESERVE Bank of Zimbabwe (RBZ) governor John Mangudya says the country must establish a Financial Sector Development Plan (FSDP) as part of efforts to coordinate the operations of companies working in...Published: 09 Apr 2021 at 07:36hrs | 776 | by Staff reporter
FCB, Econet strike deal
FIRST Capital Bank (FCB) has introduced a WhatsApp banking chatbot and a billing system that allows Econet clients access to internet and mobile banking applications at no cost.The two innovat...Published: 09 Apr 2021 at 07:32hrs | 872 | by Staff reporter
NMBZ realises $705 million pre-tax profit
NMBZ Holdings realised a profit before taxation of ZWL 705 414 282 last year, in what the group's chairman, Mr Ben Chikwanha, described as a remarkable performance, despite the difficult operating env...Published: 07 Apr 2021 at 10:36hrs | 667 | by Agencies
Case against paying compensation to white farmers for land appropriation
OUR Excellency, President ED Mnangagwa.We are living in a time when the vestiges of white hegemony and entitlement are, at long last, being challenged almost on a daily basis all over the worl...Published: 07 Apr 2021 at 07:05hrs | 675 | by Cedric Steele
Foreign capital will never build Zimbabwe
LOVE it or hate it, the success of the Command Agriculture programme should force local banks to revise the long-held view of tying loans to collateral.If they identify bona fide indigenous pe...Published: 04 Apr 2021 at 22:36hrs | 218 | by Terence Mukupe
Kamambo's treble World Cup dream
ZIFA president Felton Kamambo, who has saluted the Mighty Warriors for their resilience, believes Zimbabwe has the potential to qualify for at least three World Cups.He vowed to use his influe...Published: 04 Apr 2021 at 09:04hrs | 607 | by Staff reporter
Steward Bank in major banking system upgrade
Steward Bank, the largest bank by customer base, is this weekend undertaking its biggest system upgrade since its acquisition from TN Bank in 2013. The Cassava Smartech-owned bank is upgrading...Published: 01 Apr 2021 at 18:46hrs | 496 | by Agencies
Masiyiwa speaks on his role in getting Africa's 400 million vaccine doses
African Union Special Envoy for COVID-19 and Pan-African businessman Strive Masiyiwa has spoken on the role he played in helping put together an agreement signed early this week for Johnson & John...Published: 31 Mar 2021 at 07:50hrs | 2952 | by Staff Writer
AfDB pegs Zimbabwe growth at 4,2%
ZIMBABWE'S economy contracted by 10% last year and is envisaged to grow by 4,2% in 2021 if effective measures are taken to stabilise foreign exchange and avoid excessive money creation, the African De...Published: 29 Mar 2021 at 06:26hrs | 373 | by Staff reporter
Mthuli Ncube refuses to increase cash withdrawal limits
FINANCE minister Mthuli Ncube says there is no need to increase the weekly $2 000 bank withdrawal limit for individuals as a move to combat the black market. This comes as the Treasury chief a...Published: 28 Mar 2021 at 16:25hrs | 1936 | by Staff reporter
Standard Bank named Best Bank in Africa
Stanbic Bank Zimbabwe's South African-based parent company, Standard Bank Group, has been named the Best Bank in Africa in Global Finance's 28th annual awards for the World's Best Banks. Addit...Published: 26 Mar 2021 at 12:01hrs | 359 | by Agencies
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