Search / Currency
Govt schools use parallel rate
WOES continue to mount on inflation-ravaged parents as government schools defy a ministry directive to peg school fees for the first term next year on the prevailing interbank rate.The Primary...Published: 7 hrs ago | 196 | by Staff reporter
RBZ clears forex allotment backlog
THE forex allotment backlog worth millions of dollars from the first 93 auctions on the Reserve Bank of Zimbabwe (RBZ)'s foreign currency auction has been cleared, deputy governor Innocent Matshe has ...Published: 7 hrs ago | 115 | by Staff reporter
Even a five year old can tell that Mnangagwa has failed!
I remember when my son was still a little child, in the early 2000s, whereby we had to give him millions of Zimbabwe dollars to buy sweets and 'freezits' ...Published: 07 Dec 2022 at 19:24hrs | 778 | by Tendai Ruben Mbofana
Kupukile Mlambo appointed chief executive of the Sovereign Wealth Fund of Zimbabwe
Former Reserve Bank of Zimbabwe deputy governor Kupukile Mlambo, who holds a PhD in economics from Gothenburg University in Sweden, has been appointed chief executive of the US$100m Sovereign Wealth F...Published: 07 Dec 2022 at 19:14hrs | 838 | by Staff reporter
Zimbabwe's form 1 fees shocker
ZIMBABWEANS should brace for a steep rise in school fees next year after schools released enrolment fees for Form 1 places ranging at up to US$1 500 at some private schools.This comes after th...Published: 07 Dec 2022 at 05:08hrs | 1424 | by Staff reporter
Zimbabwe expected to pocket 60% of proceeds from Muzarabani oil and gas
ZIMBABWE is expected to pocket a maximum 60% of proceeds from the Muzarabani gas and oil fields, if the discovery proves to be of commercial value, Australian investor Invictus Energy local representa...Published: 06 Dec 2022 at 07:07hrs | 1685 | by Staff reporter
Power cuts worsen Harare water woes at treatment works stall
The current power outages being experienced in the country have worsened Harare's perennial water supply woes amid reports the crippling energy crisis has affected water treatment works at the iconic ...Published: 06 Dec 2022 at 05:12hrs | 542 | by Staff reporter
Mnangagwa accused of taking Zimbabwe back to medieval era
PRESIDENT Emmerson Mnangagwa's Statutory Instrument (SI) 189 of 2022, announced on November 4 to legalise payment of miners' royalties partly in kind has been described as not just being illegal but a...Published: 06 Dec 2022 at 05:11hrs | 3290 | by Staff reporter
RBZ recues HCC on water crisis
THE Reserve Bank of Zimbabwe (RBZ) has agreed to rescue the Harare City Council (HCC) by providing it with foreign currency to buy water treatment chemicals to improve potable water supply in the capi...Published: 06 Dec 2022 at 05:06hrs | 230 | by Staff reporter
Reserve Bank of Zimbabwe bullish on inflation
THE Reserve Bank of Zimbabwe (RBZ) yesterday remained bullish that month-on-month inflation will remain stable below 3% throughout next year, despite indications last week that the country will use de...Published: 06 Dec 2022 at 05:03hrs | 198 | by Staff reporter
Reserve Bank of Zimbabwe keeps bank rate at 200%
THE Reserve Bank of Zimbabwe (RBZ) has kept its bank policy rate at 200 percent after its Monetary Policy Committee (MPC) expressed satisfaction with how the current tight monetary policy stance has h...Published: 06 Dec 2022 at 04:58hrs | 140 | by Staff reporter
Govt clarifies school fees forex payments
PEGGING school fees in foreign currency is allowed but parents and guardians retain the right to pay fees in the currency of their choice at the prevailin...Published: 06 Dec 2022 at 03:47hrs | 1562 | by Staff Reporter
Govt delays payment to contractors
The delays in paying contractors is a result of the due diligence which the government has to carry out after some of them were charging extortionate prices, a cabinet Minister has said. Minis...Published: 05 Dec 2022 at 05:05hrs | 375 | by Staff reporter
'Ramaphosa to challenge section 89 report in his ally Zondo's court'
President Cyril Ramaphosa's lawyer has confirmed that he will seek to challenge, in the Constitutional Court, the section 89 panel report which disbelieved his account of the Phala Phala break-in....Published: 04 Dec 2022 at 15:38hrs | 1256 | by Staff reporter
Mnangagwa's govt appeases war vets with $4.6 billion
IN a bid to appease war veterans, who play a crucial role in Zanu-PF election campaigns, the government has set aside ZW$4.6 billion to invest in farms, mining and tourism.Finance and Economic...Published: 04 Dec 2022 at 09:09hrs | 5341 | by Staff reporter
Ramaphosa's stolen dollars linked to CIA?
South Africa and the world would have never known about President Cyril Ramaphosa's alleged illicit financial mess if the millions of US dollars had not been stolen from his Phala Phala farm.T...Published: 04 Dec 2022 at 08:16hrs | 6230 | by Staff reporter
Debt financing to fund 2023 budget
Finance minister Mthuli Ncube says debt financing will be used to fund the $4,5 trillion 2023 national budget, raising concerns about money supply growth.Treasury expects $3,9 trillion in reve...Published: 04 Dec 2022 at 08:11hrs | 78 | by Staff reporter
'Ministries dodge Zacc probe'
GOVERNMENT ministries are reportedly refusing to release information required for investigation of graft cases, in the process frustrating and delaying the finalisation of cases brought to the courts,...Published: 03 Dec 2022 at 07:13hrs | 338 | by Staff reporter
Zimbabwe now one of the fastest growing African economies
ANALYSING Zimbabwe's unconventional economy always proves somewhat cumbersome because it is a country bridled with policy inconsistency, unfavourable operating conditions buoyed by decades of unilater...Published: 02 Dec 2022 at 19:32hrs | 1248 | by Respect Gwenzi
Chiwenga calls Zimbabwe hotels to order
VICE-PRESIDENT Constantino Chiwenga has warned operators in the hospitality industry against charging exorbitant rates which he said contributed to economic instability.Officially opening the ...Published: 02 Dec 2022 at 05:04hrs | 7988 | by Staff reporter
Zimbabwe prices soar ahead of Christmas
ZIMBABWEANS face yet another bleak festive season as prices of basic commodities, mostly foodstuffs, continue to rise with retailers citing the current power outages as the main driver of price increa...Published: 02 Dec 2022 at 05:02hrs | 879 | by Staff reporter
Zesa tariff hike looms for miners
ZESA Holdings is set to review tariffs for major consumers such as miners to improve generation and boost its capacity to import electricity to meet local demand.In his 2023 national budget st...Published: 02 Dec 2022 at 05:01hrs | 305 | by Staff reporter
Mthuli Ncube rules out income tax relief
FINANCE minister Mthuli Ncube (pictured) says raising the income tax threshold again after the previous one in August would have been too soon because widening this tax relief further is dependent on ...Published: 02 Dec 2022 at 04:58hrs | 469 | by Staff reporter
Concerns over Zimdollar depreciation
CHARTERED accountants have expressed concern over the loss of value of the Zimbabwe dollar which is proving a challenge when putting together financial statements.They fear this could lead to ...Published: 02 Dec 2022 at 04:58hrs | 490 | by Staff reporter
Government outlines measures to stabilise electricity supply
Efforts to stabilise electricity supply are ongoing, with the Government coming up with a raft of measures such as gradually reviewing the tariff upwards so that funds are available for maintenance, i...Published: 02 Dec 2022 at 04:56hrs | 240 | by Staff reporter
ZCTU blasts Mthuli Ncube's paltry 2023 budget tax free threshold
THE Zimbabwe Congress of Trade Unions (ZCTU) says Finance Minister, Mthuli Ncube's tax free thresholds in the 2023 National Budget are a blow for the workers who will continue to carry the yoke of ove...Published: 30 Nov 2022 at 05:09hrs | 549 | by Staff reporter
Mnangagwa's govt failing Zec
THE Zimbabwe Electoral Commission (Zec) has admitted failing to run elections properly, but has laid the blame on poor funding by the State.In its latest report on the March 26 by-elections, Z...Published: 30 Nov 2022 at 05:07hrs | 415 | by Staff reporter
Chamisa needs everybody's support and sacrifice
MANY factors can push a nation to embark on unstoppable demonstrations.Hunger is one of them. Closure of democratic space, if we read world history, can cause uprising and civil disobedience....Published: 30 Nov 2022 at 05:06hrs | 361 | by Isaac Mupinyuri
Zimbabwe's monthly and yearly inflation sustains significant decline
MONTHLY inflation for the period of November 2022 has declined to 1,8%, sustaining significant declines since the month of August, the Zimbabwe National Statistics Agency (Zimstat) reported Monday....Published: 29 Nov 2022 at 19:32hrs | 296 | by Staff reporter
'Mnangagwa's govt likely to print money to fund deficit'
ONE of Zimbabwe's top financial institutions, FBC Holdings Limited (FBC) says the 2023 National Budget announced last week will likely be funded by money printing, amid dwindling revenue options for T...Published: 29 Nov 2022 at 05:21hrs | 331 | by Staff reporter
Mthuli Ncube skating on thin ice
THE $4,5 trillion 2023 national budget presented by Finance minister Mthuli Ncube on Thursday has set tongues wagging.Firstly, $4,5 trillion is way above the $3,9 trillion projected revenue fo...Published: 28 Nov 2022 at 04:57hrs | 511 | by Staff reporter
'VFEX growth exceeds expectation'
FINANCE and Economic Development Minister, Professor Mthuli Ncube, has lauded the rapid growth of the Victoria Falls Stock Exchange (VFEX), which witnessed the listing of the fifth counter, Nedbank Gr...Published: 28 Nov 2022 at 04:55hrs | 193 | by Staff reporter
Mthuli Ncube slashes Zimbabwe growth estimates to 4%
SOFTENING commodity prices on the international market have forced Zimbabwe's Treasury to cut economic growth projections for this year to 4% from 4.5% as the government's ambitious plan to build an u...Published: 27 Nov 2022 at 14:57hrs | 64 | by Staff reporter
Zimbabwe govt fails to make payments to white farmers
Zimbabwe is proposing changing the terms of a $3.5bn compensation deal signed with white former farmers two years ago, after twice missing agreed-to payments.The revised plan was part of finan...Published: 27 Nov 2022 at 14:56hrs | 216 | by Staff reporter
Govt okays forex only school fees
THE Government will not stand in the way of schools that decide to charge fees exclusively in foreign currency as long as there is consensus among parents and guardians of learners, an official has sa...Published: 27 Nov 2022 at 13:14hrs | 450 | by Staff Reporter
Mthuli Ncube raises VAT, restores duty on basics
Finance minister Mthuli Ncube unveiled his 2023 budget on Thursday, raising value added tax (VAT) in a move the main opposition Citizens Coalition for Change (CCC) described as "an attack on working p...Published: 25 Nov 2022 at 05:21hrs | 10422 | by Staff reporter
Zimbabwe sanctions hurting South Africa, says Ramphosa
SOUTH African President, Cyril Ramphosa, has pleaded with the British monarch and government to facilitate a smooth re-admission of Zimbabwe into the Commonwealth and lift the sanctions imposed on the...Published: 25 Nov 2022 at 05:18hrs | 825 | by Staff reporter
Biti dismisses Mthuli Ncube's budget as 'power retention project'
HARARE East Member of Parliament (MP), Tendai Biti has said Finance Prof. Minister Mthuli Ncube should have dollarized the economy as the opposition politician condemned the 2023 budget as "cruel and ...Published: 25 Nov 2022 at 05:17hrs | 677 | by Staff reporter
Mthuli Ncube pampers security sector
THE security sector, which includes the Office of the President and Cabinet (OPC), Defence and War Veterans Affairs and the Home Affairs ministries were some of the departments that got the largest ch...Published: 25 Nov 2022 at 05:15hrs | 939 | by Staff reporter
Mnangagwa's govt turns to Treasury bills, bonds
THE cash-strapped government is likely to print money to finance its $575,5 billion budget deficit, economic analysts warned yesterday after Finance minister Mthuli Ncube announced next year's $4,5 tr...Published: 25 Nov 2022 at 05:12hrs | 218 | by Staff reporter
Mukanya's open letter to Mnangagwa
DEAR President MnangagwaMy name is Thomas "Mukanya" Mapfumo the Chimurenga Music King. I am writing to you at this desperate hour to give you my free point of advice about the conditions in Zi...Published: 25 Nov 2022 at 05:11hrs | 994 | by Doctor Thomas Mapfumo
Civil servants get lion's share
SALARIES for civil servants are set to go up markedly after the Government allocated the biggest chunk of the 2023 National Budget towards the public sector wage bill to cushion workers from the negat...Published: 25 Nov 2022 at 05:05hrs | 510 | by Staff reporter
Mnangagwa's SONA raises dust
PRESIDENT Emmerson Mnangagwa yesterday urged legislators to finalise laws relating to elections and the controversial Criminal Law (Codification and Reform) (Amendment) Bill, which has been criticised...Published: 24 Nov 2022 at 05:00hrs | 2491 | by Staff reporter
'Mthuli Ncube must pay civil servants USD salaries'
PRESSURE is mounting on Finance minister Mthuli Ncube to announce the payment of civil servants' salaries in United States dollars in the 2023 national budget which he will announce today.Ncub...Published: 24 Nov 2022 at 04:59hrs | 1777 | by Staff reporter
Zimbabwe miners in urgent plea for forex
THE Chamber of Mines of Zimbabwe says it is engaging authorities to come up with mechanisms that can accommodate the foreign currency requirements for the sector as shortages are weighing down the sec...Published: 24 Nov 2022 at 04:59hrs | 415 | by Staff reporter
Payment of civil servants bonuses clarified
PERMANENT secretaries and directors in Government will not receive bonuses this year but will be granted performance-based awards at the beginning of next year after an assessment of their work is don...Published: 23 Nov 2022 at 04:56hrs | 623 | by Staff reporter
Zimbabwe govt bigwigs sing blues over bonuses
GOVERNMENT says civil servants from director level upwards will only be paid 2022 bonuses based on their performance appraisal outcomes.Civil servants below director level have been awarded 10...Published: 22 Nov 2022 at 04:53hrs | 689 | by Staff reporter
Norsad Capital provides CABS Zimbabwe with a Medium-term Credit facility of USD10 million
Norsad Capital, an impact investor, and private creditor provider, offering tailor-made debt solutions to mid-market growth companies in Sub-Saharan Africa, has provided Central Africa Building Societ...Published: 21 Nov 2022 at 09:51hrs | 803 | by Agencies
Mnangagwa must call war veterans to order
WHILE it is a public secret that Zimbabwe is a democracy where freedom of expression and freedom of thought are enshrined in the Constitution, it defies logic that a person who left the comfort of his...Published: 21 Nov 2022 at 04:58hrs | 457 | by Mambo Dari
'Small gold coins will further anchor stability'
The introduction of small gold coins last week is expected to further stabilise the exchange rate, Reserve Bank of Zimbabwe (RBZ) governor Dr John Mangudya has said.Large-denomination bullion ...Published: 20 Nov 2022 at 15:34hrs | 85 | by Staff reporter
Load More Stories
