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Swipe machines now mandatory in Zimbabwe
The Consumer Protection Commission has launched an enforcement blitz against businesses refusing to accept Point-of-Sale (POS) machine transactions, making it mandatory for all businesses to comply wi...Published: 21 Oct 2024 at 07:41hrs | 3168 | by Staff reporter
Zimbabwe retailers make a case for multi-currency continuation
Retailers in Zimbabwe have urged the Reserve Bank of Zimbabwe (RBZ) to extend the multi-currency regime as official policy until 2030, warning that any abrupt move towards full dollarisation could sev...Published: 07 Oct 2024 at 07:52hrs | 1039 | by Staff reporter
Zimbabwe retailers rejects forced de-dollarisation
Zimbabwean retailers have issued a stark warning to the government regarding the potential consequences of de-dollarising the economy, cautioning that such a move could have catastrophic effects. This...Published: 02 Oct 2024 at 07:55hrs | 728 | by Staff reporter
Zimbabwe shops continue to reject ZiG
The surge in black-market exchange rates, which peaked at US$1:25 ZiG, has led some businesses in Bulawayo to reject transactions in Zimbabwe Gold (ZiG), defying government directives. This defiance u...Published: 30 Jul 2024 at 07:39hrs | 1846 | by Staff reporter
Zimbabwe banks downplay ZWG shortages
Zimbabwe's banking sector has sought to downplay reports of severe liquidity shortages following the introduction of the new Zimbabwe Gold (ZWG) currency by the Reserve Bank of Zimbabwe (RBZ) on April...Published: 30 Jun 2024 at 18:32hrs | | by Staff reporter
'Increase in sugar prices unwarranted'
THE Confederation of Zimbabwe Retailers (CZR) has expressed concern over speculative pricing of sugar on the local market.In a statement yesterday, CZR president Denford Mutashu said the recen...Published: 12 Apr 2024 at 09:49hrs | | by Staff reporter
Zimdollar remains legal tender until month-end
The Zimbabwe dollar remains legal tender for all domestic transactions until April 30, when the Zimbabwe Gold (ZiG) notes and coins will come into circulation, the Reserve Bank of Zimbabwe (RBZ) has s...Published: 10 Apr 2024 at 06:02hrs | 1 | by Staff reporter
Retailers, service providers switch to ZiG prices
SEVERAL businesses and key service providers had by yesterday successfully converted prices of their goods and services to the new Zimbabwe Gold (ZiG) currency to ensure smooth consumer transactions....Published: 10 Apr 2024 at 06:02hrs | | by Staff reporter
Zimbabweans urged to have confidence in new currency
Measures announced by Reserve Bank of Zimbabwe (RBZ) Governor Dr John Mushayavanhu in his maiden monetary policy statement on Friday should go a long way in containing prices and reducing inflation, a...Published: 08 Apr 2024 at 10:43hrs | | by Staff reporter
Zimbabwe millers warn of rice price hikes
THE Grain Millers Association of Zimbabwe (GMAZ) has approached the Treasury to scrap the 15% value-added tax (VAT) on rice, warning that the levy will hit consumer spending.The developments c...Published: 25 Feb 2024 at 09:26hrs | 1 | by Staff reporter
Retailers go to town bootlicking Mnangagwa
The Confederation of Zimbabwe Retailers (CZR) has issued a statement praising President Emmerson Mnangagwa's leadership, a commendation that some critics perceive as excessive and bordering on sycopha...Published: 16 Jan 2024 at 04:46hrs | 1 | by Staff reporter
Mealie-meal shortage artificial
MEALIE-MEAL stock-outs in retail outlets witnessed over the last few weeks were a result of "logistical challenges" that were being faced by local milling companies, which have since been resolved and...Published: 07 Jan 2024 at 17:37hrs | 5 | by Staff reporter
Retailers want zero VAT restored on basics
THE Confederation of Zimbabwe Retailers has called on Finance, Economic Development and Investment Promotion Minister Mthuli Ncube to reverse proposals to introduce Value Added Tax on a small range of...Published: 06 Dec 2023 at 05:04hrs | 7 | by Staff reporter
Zimbabwe retailers index prices in USD
The foreign currency exchange rate system implemented by the Reserve Bank of Zimbabwe (RBZ) mandates that prices must be displayed in both local currency and foreign currency. Retailers are required t...Published: 31 Oct 2023 at 05:37hrs | 1 | by Staff reporte
Guvamatanga rubbishes retailers' complaints over spaza shop influx
George Guvamatanga, the Secretary of the Ministry of Finance, has chosen to downplay the impact of tuck shops on formal retailers. Instead, he has suggested that many businesses are being managed by i...Published: 03 Oct 2023 at 06:18hrs | | by Staff reporter
Hwange Power Station Unit 7 put into commercial operation
TRIALS have ended for the new Hwange Thermal Power Station's Unit 7 which has now been successfully put into commercial operation to provide an uninterrupted 300MW electricity supply to the national g...Published: 28 Jul 2023 at 06:43hrs | | by Staff reporter
Govt descends on price manipulators
THE Consumer Protection Commission (CPC) will soon impose heavy fines on retailers that have not reduced prices of their goods in line with movements of the exchange rate on the interbank market....Published: 09 Jul 2023 at 10:30hrs | 4 | by Staff reporter
4 rogue firms' accounts frozen
BANK accounts belonging to four major basic commodity distributors have been frozen for suspected economic sabotage, while unscrupulous manufacturers and pharmaceutical companies also face the same co...Published: 28 May 2023 at 07:59hrs | 1 | by Staff reporter
Mnangagwa salutes private sector
PRESIDENT Mnangagwa yesterday saluted the country's private sector which has risen to the occasion through the production of the majority of goods found in local supermarkets.This is testimony...Published: 11 Mar 2023 at 06:33hrs | | by Staff reporter
Mnangagwa assures business operators of his government's protection from potential losses
President Emmerson Mnangagwa Friday looked to be assuring business operators of his government's protection from potential losses that could arise from a possible violent election period the country n...Published: 10 Mar 2023 at 19:39hrs | | by Staff reporter
Plastic carrier bag ban postponed
THE Zimbabwe Environmental Management Agency (Ema) has indefinitely postponed a ban on plastic carrier bag use, which was initially scheduled for December 31 this year.In a letter to the Confe...Published: 19 Nov 2022 at 06:31hrs | | by Staff reporter
Zimbabwe black market rates tumble
A raft of robust economic measures put forward by President Mnangagwa and his administration have proved to have a stabilising effect on the national economy as they managed to arrest the parallel mar...Published: 21 Aug 2022 at 08:43hrs | | by Staff reporter
Zimdollar makes paper gains
The economy has largely stabilised, especially from late last month, as a result of aggressive measures by Government to rein in market indiscipline, and market watchers are confident the latest inter...Published: 14 Aug 2022 at 07:22hrs | | by Staff reporter
RBZ summons retailers, manufactures
RETAILERS and manufacturers have been summoned to a no-holds-barred meeting on price hikes by the Financial Intelligence Unit (FIU), a unit of the Reserve Bank of Zimbabwe, especially against the back...Published: 17 Jul 2022 at 09:05hrs | | by Staff reporter
Zimbabweans hoard goods to escape price rage
BASIC commodity shortages have returned to haunt consumers, prompting them to hoard goods to escape a devastating price rage, it has emerged.A significant part of hoarded goods have ended up o...Published: 14 Jun 2022 at 06:39hrs | | by Staff reporter
'There is no reason for bread shortage' Musarara
Grain Millers Association of Zimbabwe (GMAZ) national chairman Tafadzwa Musarara, however, said there is no reason for the country to experience bread shortages as there is adequate wheat in the count...Published: 08 Jun 2022 at 10:21hrs | 5 | by Mandla Ndlovu
Bread in short supply as bakeries demand US$
BREAD is in short supply in some parts of the country as some bakeries are demanding payment in United States dollars only.Tuckshop owners in Harare yesterday told NewsDay Weekender that they ...Published: 04 Jun 2022 at 19:55hrs | 1 | by Staff reporter
Basic goods prices gallop in Zimbabwe
Bulawayo residents have called for Government controls as prices of basic commodities are increasingly getting out of reach for the majority of citizens, with retailers having adopted different foreig...Published: 02 Jun 2022 at 06:43hrs | 6 | by Staff reporter
'Zimdollar dead by next month'
TWO of Zimbabwe's most respected economics professors have warned government to bite the bullet and redollarise because the Zimdollar "would be dead soon".Professors Gift Mugano and Anthony Ha...Published: 27 May 2022 at 06:47hrs | | by Staff reporter
Retailers dump Zimdollar
RETAILERS in Harare have dumped the Zimbabwe dollar and are demanding payment in United States dollars for a number of basic goods such as cooking oil and dairy products.Some large wholesalers...Published: 28 Apr 2022 at 09:05hrs | | by Staff reporter
Prices in Zimbabwe run riot!
THE economic malaise has deepened in recent weeks as the cost of living is spiralling out of control with prices soaring by about 30% during the first week of April. This has plunged households into e...Published: 08 Apr 2022 at 08:22hrs | 1 | by Staff reporter
Govt urged to review fuel taxes
STAKEHOLDERS have called for Government intervention after fuel prices went up twice in one week as this might result in a potential commodity price increases.Companies are finding it hard to ...Published: 11 Mar 2022 at 05:37hrs | | by Staff reporter
Govt, business stalemate rages
BUSINESS executives made desperate attempts from last week Friday to worm their way out of arrests for violating foreign currency exchange regulations, but the government turned a deaf ear as it vowed...Published: 15 Oct 2021 at 20:19hrs | | by Staff reporter
RBZ summons businesses over price madness
RESERVE Bank of Zimbabwe (RBZ) Governor Dr John Mangudya yesterday said his meeting with business this morning is not a witchhunt, but an effort by authorities to grasp the root cause of the prevailin...Published: 11 Oct 2021 at 05:54hrs | | by Staff reporter
Cash-only businesses dodging taxes
Harare's downtown businesses and other informal sector players have found a way of avoiding taxes by demanding cash transactions only, and strictly in US dollars, forcing customers to buy the greenbac...Published: 10 Oct 2021 at 06:35hrs | | by Staff reporter
Power outages new blow to recovery
LOCAL businesses, still reeling from the devastating effects of Covid-19 lockdowns, have suffered yet another blow following a load shedding schedule by the Zimbabwe Electricity Transmission and Distr...Published: 17 Sep 2021 at 06:17hrs | | by Staff reporter
Return to normal hours excites business
Businesses and traders have returned to their normal working hours following the extension of operating hours under the new Level Two lockdown measures announced by President Mnangagwa on Tuesday. ...Published: 09 Sep 2021 at 06:05hrs | 6 | by Staff reporter
Retailers appeal for extended trading hours
THE Confederation of Zimbabwe Retailers (CZR) has appealed to Government for the extension of lockdown trading hours in order to boost sales. Although the country remains under Level 4 lockdown, Cabin...Published: 27 Aug 2021 at 06:31hrs | | by Staff reporter
Rates hike standoff turns political
ZIMBABWE's retail industry came out guns blazing this week, slamming local authorities for undermining President Emmerson Mnangagwa's ‘Zimbabwe is Open for Business' campaign after extensive rate hi...Published: 20 Aug 2021 at 07:11hrs | 1 | by Staff reporter
Supermarkets doomed after $120bn snub
SEVERAL measures being deployed by government to rebuild the economy may be doomed unless they are twinned with policies that boost spending power, the Confederation of Zimbabwe Retailers (CZR) said, ...Published: 19 Aug 2021 at 06:33hrs | | by Staff reporter
Restaurants choke under extended lockdown
RESTAURANT operators yesterday said the continued extension of COVID-19-induced lockdown without financial support or stimulus packages for ailing businesses would severely affect their industry....Published: 12 Aug 2021 at 06:43hrs | | by Staff reporter
The next big crisis for Zimbabwe retailers
A crisis is brewing in Zimbabwe's retail sector after Finance minister Mthuli Ncube amplified a desperate situation by turning down pleas to hike tax-free thresholds by wide margins in his midterm pol...Published: 01 Aug 2021 at 06:49hrs | 1 | by Staff reporter
Prices should remain stable, says Mthuli Ncube
THE recent 50 percent salary hike for civil servants will increase purchasing power but will not result in price increases as the auctions govern the cost of foreign currency used for productive purpo...Published: 27 Jul 2021 at 07:07hrs | | by Staff reporter
SI 127 ghost still haunting economy
After passing Statutory Instrument (SI) 127 of 2021 on the 26th of May 2021, the Zimbabwean government made a quick summersault on the new regulations through a press statement issued by the Reserve B...Published: 14 Jul 2021 at 08:47hrs | | by Victor Bhoroma
Business wary of another lockdown
BUSINESS is dreading the possibility of another Covid-19-induced lockdown which could further imperil operations and result in more job losses.Zimbabwe is in the throes of a third wave of Covi...Published: 25 Jun 2021 at 07:46hrs | 1 | 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 | 1 | by Staff reporter
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 | | by Staff reporter
Cost of living jumps to $32 540
THE average cost of living for a family of five increased to $28 853 this month, from $28 362 in April, as reports emerged that supermarkets had been computing prices based on parallel market rates....Published: 30 May 2021 at 08:47hrs | | by Staff reporter
Supermarkets feel heat as consumers spend on fuel
ZIMBABWE'S retailers have said the government must take action against high fuel prices that have been blamed for pushing production costs up, making the environment "unpredictable and difficult" for ...Published: 28 May 2021 at 08:02hrs | | by Staff reporter
Zimbabwe supermarkets face implosion
ZIMBABWE's retail industry says it is facing an implosion unless the mid-term fiscal policy review set for July makes wide-ranging reforms to stimulate demand after 12 million consumers hit hard times...Published: 23 May 2021 at 07:45hrs | | by Staff reporter
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