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Bulawayo forex discounts endorsed
BULAWAYO residents are going to get a 50 percent discount for settling their rates in foreign currency, while industries will have a 30 percent discount after councillors endorsed the resolution which...Published: 14 Aug 2022 at 07:20hrs | 246 | by Staff reporter
Zimbabwe's urban poor turn to "Car Supermarkets" to survive inflation
Sheila Gava forages the trunk of a stranger's Nissan car for dried tuna, Kellogg's biscuits and a bottle of canola oil."I've not stepped foot inside a high-street supermarket in three years," ...Published: 14 Aug 2022 at 07:18hrs | 203 | by Staff reporter
RBZ strangles street money changers
They don't know what has suddenly hit them. It is no longer business as usual for most, if not all, illegal street money changers.They used to call the shots in the last few months, de...Published: 13 Aug 2022 at 07:23hrs | 1264 | by Staff reporter
Mnangagwa tells profiteers to play fair,
PRESIDENT Mnangagwa yesterday reiterated the need to adopt fair business practices and urged economic stakeholders to rally behind the country's transformation agenda and leave a legacy of positive im...Published: 13 Aug 2022 at 07:23hrs | 116 | by Staff reporter
Retailers must reduce prices, says CCZ
THE Consumer Council of Zimbabwe (CCZ) has called on retailers to reduce prices of goods following a reduction in fuel prices.This follows a drop in petrol price from US$1,76 to US$1,60 per li...Published: 12 Aug 2022 at 06:37hrs | 437 | by Staff reporter
Zesa switches off top officials, police in blitz
TOP government officials, critical security establishments, including police stations and ministry departments, were left in the dark last week after the country's power utility, Zesa, switched them o...Published: 10 Aug 2022 at 08:49hrs | 3318 | by Staff reporter
Production costs, competition strain Ingwebu
BULAWAYO Municipal Commercial Undertaking's beverages producer, Ingwebu Breweries, says rising costs of production coupled with increasing competition strained its earnings, which saw profit dropping ...Published: 10 Aug 2022 at 06:31hrs | 135 | by Staff reporter
'Fuel price drop must benefit consumers'
BUSINESSES should review prices of goods and services downwards in line with the recent decline in fuel prices, a Cabinet Minister has said.This comes as interventions by the Reserve Bank of Z...Published: 07 Aug 2022 at 08:16hrs | 51 | by Staff reporter
Zimbabwe fuel prices go down again
THE reduction in fuel prices by the Government continues as the Zimbabwe Energy Regulatory Authority (Zera) reviewed prices effective yesterday.In an update, the regulatory authority reduced d...Published: 03 Aug 2022 at 18:59hrs | 6153 | by Staff reporter
Push for new route to the sea
IN a short four years, President Mnangagwa and his team have ushered in and carried out breathtaking reforms in our national economic management. He is scoring successes in all the fundamental...Published: 01 Aug 2022 at 06:33hrs | 545 | by Monica Mutsvangwa
Falling fuel prices ease pressure on consumers
The sustained drop in fuel prices, which saw prices being reviewed downwards twice over a two-week period this month owing to falling international crude ...Published: 31 Jul 2022 at 07:08hrs | 653 | by Staff Reporter
Mnangagwa commends talented young people
ZIMBABWE is poised to be at the apex of development given its rich pool of talented youths in various fields like engineering who have put shoulders to the wheel in transforming the country towards an...Published: 29 Jul 2022 at 06:46hrs | 144 | by Staff reporter
Zimbabwe tax-free threshold doubled, bonus windfall for workers
The tax-free threshold for income tax was doubled to $50 000 a month yesterday by Finance and Economic Development Minister Mthuli Ncube as part of the doubling of all tax bands to improve disposable ...Published: 29 Jul 2022 at 06:46hrs | 710 | by Staff reporter
Zimbabwe is ripe for investment - it just needs to be done the right way
The massive surge in diaspora remittances to Zimbabwe - up to $1.4 billion last year - makes for an interesting case study of an economy significantly different from others. Not many countries can loo...Published: 27 Jul 2022 at 13:01hrs | 1711 | by Agencies
Council sues 400 defaulters per month
NEARLY 400 people are sued monthly by the Bulawayo City Council (BCC) and some end up having their property auctioned by the Messenger of Court after failing to settle their debts. Last Friday...Published: 25 Jul 2022 at 06:27hrs | 332 | by Staff reporter
Democratisation of mine workers representation platform critical to build an inclusive NEC
HARARE: Zimbabwe has a monopolistic mine workers' representation system which constitutes National Chamber of Mines and AMWUZ - Associated Mine Workers Union of Zimbabwe.This uneven terrain in...Published: 22 Jul 2022 at 21:54hrs | 119 | by Maxwell Teedzai
Zimbabwe secures 300MW
ZESA Holdings has secured a 300 megawatt (MW) power import deal with regional suppliers as the energy crisis threatens to cripple industry and domestic consumers, confidential documents show.T...Published: 22 Jul 2022 at 10:43hrs | 1907 | by Staff reporter
Zimbabwe mines shut out suppliers
ZIMBABWE'S mining industry warned yesterday that domestic suppliers risked being shut out of the industry's value chain after hiking prices by 100%.The price rage involves deals in United Stat...Published: 22 Jul 2022 at 10:41hrs | 625 | by Staff reporter
More light must be shed on gold coins to instil confidence
Consumer and investor confidence will likely be a game changer as the nation waits patiently for gold coins, which will be available beginning July 25 this year.The coins will be available thr...Published: 21 Jul 2022 at 06:40hrs | 126 | 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 | 481 | by Staff reporter
Zesa, Zesco stitch power deal
POWER utility Zesa Holdings is in discussions with its Zambian counterpart, Zesco for importation of 100 megawatts of electricity to supplement local production, NewsDay reportedAccording to Z...Published: 14 Jul 2022 at 09:28hrs | 3603 | by Staff reporter
Zimbabwe sets new record of planted winter wheat hectares
ZIMBABWE has this year set a new record of planted winter wheat hectares and farmers have been exempt from electricity load shedding, Information, Publicity and Broadcasting Services Minister Monica M...Published: 13 Jul 2022 at 07:19hrs | 370 | by Staff reporter
'Exclusive USD pricing illegal'
PRICING of goods exclusively in US dollars remains completely illegal and businesses not accepting local currency payments for every product should stop the illegal practice forthwith or risk having t...Published: 13 Jul 2022 at 07:18hrs | 301 | by Staff reporter
Brace for bread price hike: GMAZ
Consumers should brace for the imminent bread price hike, the Grain Miller's Association of Zimbabwe (GMAZ) has said in a statement.GMAZ said the latest development is caused by the continued ...Published: 12 Jul 2022 at 16:17hrs | 1503 | by Shelton Muchena and Desmond Nleya
'Zimbabwe economic outlook grim'
ECONOMISTS have warned that Zimbabwe's economic outlook looks "dark" given the country's widening trade deficit following the government's suspension of customs duties on imported consumer goods....Published: 08 Jul 2022 at 07:36hrs | 655 | by Staff reporter
Zimbabweans told to brace for more power cuts
GOVERNMENT yesterday warned of more power cuts due to the increase in the demand for electricity during the winter season.The country is already facing a power deficit, while the power utility...Published: 06 Jul 2022 at 18:06hrs | 1578 | by Staff reporter
Massive reshuffling looms at ZETDC
ZESA Holdings subsidiary, the Zimbabwe Electricity Transmission and Distribution Company (ZETDC) plans to reshuffle staff at various work stations across the country by the end of August this year, Ne...Published: 04 Jul 2022 at 07:03hrs | 1782 | by Staff reporter
Mangudya defends new currency measures
RESERVE Bank of Zimbabwe (RBZ) governor John Mangudya says recent official exchange rate adjustments will help in mopping excess liquidity in the market and stabilise the currency and inflation....Published: 03 Jul 2022 at 09:30hrs | 858 | by Staff reporter
Date set for Zimbabwe gold coins rollout
GOLD coins that were announced last week as a new measure and alternative to store monetary value, will be introduced into the market mid-this month and will be purchased using both foreign and local ...Published: 03 Jul 2022 at 09:28hrs | 2911 | by Staff reporter
'Mthuli Ncube, John Mangudya must resign'
OPPOSITION political parties have demanded that Finance minister Mthuli Ncube and Reserve Bank of Zimbabwe (RBZ) governor John Mangudya resign, accusing them of crafting anti-poor policies that are wo...Published: 29 Jun 2022 at 07:49hrs | 3162 | by Staff reporter
Mthuli Ncube redollarises
GOVERNMENT yesterday brought back the United States dollar as legal tender to stem rising inflation and restore confidence in the economy, but critics say the move will lead to more demands for salari...Published: 28 Jun 2022 at 07:26hrs | 9219 | by Staff reporter
'South Africa's petrol price could hit R40 a litre'
The ongoing war in Ukraine is costing South Africa billions in lost revenues and added costs, and trade officials are concerned that further widespread disruptions to the local economy are likely....Published: 26 Jun 2022 at 12:29hrs | 1939 | by Staff reporter
Innscor fined US$9m, ordered to divest from Probrands
THE Competition and Tariff Commission (CTC) imposed a fine of US$9,1 million on Innscor Africa Limited (Innscor) for consummating the merger of one of its subsidiaries without the Commission's approva...Published: 26 Jun 2022 at 12:26hrs | 9088 | by Staff reporter
Bata puts faith on Zimbabwe economy: US$5 million in plant and machinery
BATA Shoe Company Zimbabwe has invested over US$5 million in plant and machinery, in sheer demonstration of confidence in the economy.The company recently installed a polyurethane pouring plan...Published: 24 Jun 2022 at 07:36hrs | 224 | by Staff reporter
ZETDC decries electricity theft
THE Zimbabwe Electricity Transmission and Distribution Company (ZETDC) has said there is widespread theft of electricity as some people are bypassing its power regulation systems and consuming electri...Published: 23 Jun 2022 at 06:44hrs | 161 | by Staff reporter
Zimbabwe can never hold credible elections without leadership being publicly questioned for accountability
This morning I was watching a lively Sky News interview with Dominic Raab, the British Deputy Prime Minister, whereby he was being grilled over many topical issues affecting his country.As I w...Published: 22 Jun 2022 at 13:28hrs | 1687 | by Tendai Ruben Mbofana
Prepaid Zesa for all next year
THE Zimbabwe Electricity Transmission and Distribution Company (ZETDC) has procured 100 000 prepaid meters as it targets to complete the placement of all its customers under this system by June next y...Published: 22 Jun 2022 at 06:43hrs | 288 | by Staff reporter
Parly probes companies refusing local currency
PARLIAMENT will soon institute urgent investigations into manufacturers and wholesalers that are not accepting local currency as a means of payment for basic commodities despite obtaining foreign curr...Published: 22 Jun 2022 at 06:40hrs | 241 | by Staff reporter
South Africa taxis to hike fare amid spiralling fuel hikes
South Africans who make use of minibus taxis as a means of transportation will have to brace for another cost of living increase, after a Santaco representative revealed that the organisation is set o...Published: 21 Jun 2022 at 14:03hrs | 266 | by Staff reporter
Govt keeps focus on Zimdollar
Government will not let-up on implementing fiscal and monetary measures to contain resurgent inflation and tame Zimbabwe dollar volatility, Finance and Economic Development Minister Professor Mthuli N...Published: 19 Jun 2022 at 10:04hrs | 231 | 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 | 320 | by Staff reporter
RBZ shifts blame to companies
THE Reserve Bank of Zimbabwe (RBZ) says a relentless depreciation of the domestic currency experienced in the past few months has been triggered by excessive currency manipulation by firms pursuing "s...Published: 12 Jun 2022 at 09:21hrs | 3296 | by Staff reporter
Zimbabwe trade deficit hits US$34bn as industrialisation flops
ZIMBABWE has since 2002 accumulated a trade deficit of more than US$34 billion, a clear indication that the country's industrialisation-led import-substitution programmes have failed, new data show....Published: 11 Jun 2022 at 09:31hrs | 361 | 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 | 1174 | by Mandla Ndlovu
Currency Crimes: Four banks to face the music
FOUR banks have been placed under intense scrutiny and will face stiff penalties from the Financial Intelligence Unit (FIU) over allegations of involvement in illicit financial crimes that have led to...Published: 08 Jun 2022 at 07:29hrs | 5461 | by Staff Reporter
Why Zimbabwe's de-dollarization route flopped
The Zimbabwean government has announced measures to promote the wider use of the domestic currency (The Zimbabwean Dollar) in a last-ditch effort to save it from the re-dollarization onslaught. Part o...Published: 08 Jun 2022 at 07:08hrs | 4303 | by Victor Bhoroma
Zesa needs US$300m to address backlog
ZESA Holdings has a backlog of 305 000 domestic customers who need to have electricity connected to their homes, but requires a whooping US$300 million to connect all of them, a senior official has sa...Published: 06 Jun 2022 at 09:59hrs | 931 | by Staff Reporter
Price of bread skyrockets again in Zimbabwe
A standard loaf of bread now costs $640, up from $450, or US$2.10 using the foreign exchange auction rate, piling more misery on Zimbabweans grappling with price hikes.During the inclusive gov...Published: 05 Jun 2022 at 09:16hrs | 14219 | by Staff reporter
4 Zimbabwe banks to face currency crimes charges
FOUR banks have been placed under intense scrutiny and will face stiff penalties from the Financial Intelligence Unit (FIU) on allegations of involvement in illicit financial crimes that have led to t...Published: 05 Jun 2022 at 09:08hrs | 1411 | by Staff reporter
'The Reserve Bank of Zimbabwe is not creating money'
The Sunday Mail Editor Victoria Ruzvidzo (VR) had a no-holds-barred interview with RBZ Governor Dr John Mangudya (JM) on the latest developments in the economy, among them suspension of bank lending, ...Published: 05 Jun 2022 at 09:00hrs | 227 | by Staff reporter
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