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IMF projects 6% growth for Zimbabwe
THE International Monetary Fund (IMF) has predicted that Zimbabwe's economy will grow by 6% this year, but warned that uncertainty remains high and the outlook will depend on the Covid-19 pandemic's e...Published: 2 hrs ago | 118 | by Staff reporter
Firms fingered in abusing forex auction fight back
COMPANIES which were this week accused by the Reserve Bank of Zimbabwe (RBZ) of abusing the funds obtained from the foreign currency auction market have strongly refuted the allegations and are seekin...Published: 2 hrs ago | 381 | by Staff reporter
Has the Zimbabwe dollar really stabilised against the US unit?
There is a strong debate among economic analysts pertaining to whether the Zimbabwean dollar (ZW$) has stabilised against the American dollar (US$) or not. There is a section which believes that the l...Published: 2 hrs ago | 280 | by Respect Gwenzi
Grace Mugabe in fresh land row
FORMER First Lady, Grace Mugabe is being accused of grabbing two Harare residential stands belonging to Rumbidzai Ankomah (nee Mzembi) and Xavier Mzembi which she gave to her relatives.The Mze...Published: 8 hrs ago | 1744 | by Staff reporter
IMF rules out Zimbabwe bailout
Fund International Monetary Fund (IMF) on Wednesday said it would not move an inch from its position that Zimbabwe did not qualify for financial bailouts even after clearing its debts to the global le...Published: 8 hrs ago | 826 | by Staff reporter
Mobile data, Internet traffic up 30pc: Potraz
MOBILE Internet and data traffic increased by 30 percent in the first quarter ended March 2021 due to increased adoption of digital platforms. The Postal and Telecommunications Regulatory Authority of...Published: 8 hrs ago | 296 | by Staff reporter
Debunking the biggest cryptocurrency myths in South Africa
To any potential South African investor entering the market to turn a profit, cryptocurrencies as well as the blockchain could seem perplexing at first. This is why we aim to debunk certain myths asso...Published: 17 Jun 2021 at 10:00hrs | 930 | by Staff Writer
Smelly Dube's trial stopped
GWERU regional magistrate Mr Christopher Maturure has stopped the criminal trial of River Valley Properties chief executive officer Smelly Dube, who was facing US$9 million fraud allegations, pending ...Published: 16 Jun 2021 at 17:17hrs | 1638 | by Staff reporter
RBZ goes for broke: names, shames forex abusers
THE Reserve Bank of Zimbabwe (RBZ) yesterday escalated plans to punish "outliers" including listed milling giant, National Foods, which it said were "abusing" foreign currency acquired through the auc...Published: 16 Jun 2021 at 08:29hrs | 2325 | by Staff reporter
18 forex abusers to pay penalties
The Reserve Bank of Zimbabwe yesterday listed the first 18 firms facing civil penalties under the new Statutory Instrument 127 after being caught abusing the foreign exchange auction system, with Zimb...Published: 16 Jun 2021 at 08:16hrs | 339 | by Staff reporter
We have stopped prosecution of Smelly Dube - Gweru magistrate's court
Gweru Magistrate Christopher Maturure has accented to the High Court ruling granting Smelly Dube a stay of prosecution in a case in which the businesswoman is facing corruption involving $9 million....Published: 15 Jun 2021 at 22:44hrs | 1571 | by Simbarashe Sithole
RBZ names companies abusing foreign exchange auction system
THE Reserve Bank of Zimbabwe has named 18 companies that have been abusing the foreign exchange auction system. The RBZ released a statement and said the companies that were found out by the F...Published: 15 Jun 2021 at 18:21hrs | 1114 | by Staff reporter
The security and political economy dimensions of the Mozambican insurgency
Southern Africa was recognised for a long time as one of the most pacific region in Africa but recent events that have been transpiring in Mozambique have proved that the stability of ...Published: 14 Jun 2021 at 07:16hrs | 1801 | by Wallace K Musakanyi
Padenga to switch listing to the VFEX
CROCODILE breeding firm, Padenga Holdings Limited, will terminate its listing on the main board of the Zimbabwe Stock Exchange (ZSE) and relist on the Victoria Falls Stock Exchange (VFEX).VFEX...Published: 14 Jun 2021 at 06:17hrs | 271 | by Staff reporter
Chamisa's fired ally allocated cheap industrial stand by Bulawayo City Council
THE uproar that resulted in former Bulawayo deputy mayor, Mr Tinashe Kambarami attempting to bulldoze a full council meeting despite his recalling has been exposed as a "mere smokescreen", as during t...Published: 13 Jun 2021 at 19:58hrs | 1238 | by Staff reporter
Another civil servants' salary increment on the cards
THE Government will effect a 45 percent salary increment for all public sector workers next month, raising this year's cumulative pay adjustments to 70 percent.In April, civil servants' salari...Published: 13 Jun 2021 at 19:56hrs | 1238 | by Staff reporter
When clowns sup at State House, it's trouble, serious trouble!
Pretoria mornings are now cold. It is a geographical axiom winter is for chills.Increasingly here, the weather is biting and unrelenting like a witch's tit as assumed.Early morning jog...Published: 13 Jun 2021 at 18:40hrs | 558 | by Josiah Mucharowana in Pretoria
Zimbabwe mines, banks in crunch talks over US sanctions
ZIMBABWE'S mines said on Friday they had kicked-off crunch meetings with banks, government and the Minerals Marketing Corporation of Zimbabwe (MMCZ) to find a solution after operators reported that th...Published: 13 Jun 2021 at 07:26hrs | 1001 | by Staff reporter
'Zimbabwe teachers victims of State repression'
TEACHERS unions have accused the government of failing to address their salary grievances, and said they have become victims of capitalism and State repression.They said following revelations ...Published: 12 Jun 2021 at 07:53hrs | 328 | by Staff reporter
Delta red-flags Zimbabwe policies
ZIMBABWE Stock Exchange (ZSE)-listed beverages manufacturer, Delta Corporation yesterday added its voice to growing concerns over policy inconsistency and currency volatility in the country, saying th...Published: 11 Jun 2021 at 07:39hrs | 783 | by Staff reporter
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
Security forces deep in gold smuggling: Report
MEMBERS of the security forces and Reserve Bank of Zimbabwe (RBZ) officials tasked to maintain order and security in the mining sector have been accused of the smuggling of the precious mineral outsid...Published: 11 Jun 2021 at 06:38hrs | 872 | by Staff reporter
Zimbabwe suffers US$300m trade deficit
ZIMBABWE suffered a US$300 million trade deficit during the first quarter of 2021, as imports continued to dominate the value of goods exported by the country, data from the Ministry of Finance and Ec...Published: 11 Jun 2021 at 06:36hrs | 307 | 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 | 592 | by Rutendo Bereza Matinyarare
RBZ steps up liquidity mopping
The Reserve Bank of Zimbabwe (RBZ)'s decision to trade non-negotiable certificates of deposits in exchange for excess liquidity held by local financial institutions is in line with authorities' contra...Published: 11 Jun 2021 at 06:28hrs | 236 | by Staff reporter
Zimbabwe upbeat about economic rebound
Zimbabwe is hoping for economic rebound this year as Finance Minister Mthuli Ncube expects the economy to grow by 7.8%.For two consecutive years, the country's economy has been shrinking. Even...Published: 10 Jun 2021 at 21:23hrs | 159 | 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 | 990 | by Staff reporter
High Court stops Smelly Dube trial
THE High Court has stopped the criminal trial of River Valley Properties chief executive officer Smelly Dube, who is facing US$9 million fraud, pending a determination by the same court of her applica...Published: 10 Jun 2021 at 06:22hrs | 829 | by Staff reporter
Local bus assembly begins operations
Zimbabwe is set to assemble buses starting this year after a bus operating organisation and manufacturing entity signed an agreement today.The development is expected to save foreign currency,...Published: 09 Jun 2021 at 18:22hrs | 1673 | by Staff reporter
Official exchange rate slightly eases to 1:85
THE Zimbabwe dollar has eased to trade at 85,07 against the United States dollar at this week's foreign currency auction from 84,76 last week.According to data provided by the Reserve Bank of ...Published: 09 Jun 2021 at 18:19hrs | 197 | by Staff reporter
Zimbabwe back to trillion-figure era
THE Reserve Bank of Zimbabwe (RBZ) says the value of transactions processed through the national payment systems hit the $1,24 trillion mark during first quarter of this year, rising by 9% from $1,13 ...Published: 09 Jun 2021 at 07:18hrs | 2609 | 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 | 226 | by Staff reporter
Farmers call for ban on private cattle sales
LIVESTOCK farmers from Matabeleland South Province have called on the Government to set a standard price for a beast and abolish private cattle sales as buyers are underpaying them for their animals....Published: 08 Jun 2021 at 06:36hrs | 540 | by Staff reporter
Mineral output forecast to jump 11%
Mining companies expect an 11 percent growth output in the second half this year, after seeing production fall across key minerals in the first quarter, the Chamber of Mines of Zimbabwe (CoMZ) has sai...Published: 08 Jun 2021 at 06:30hrs | 29 | by Staff reporter
Zimbabwe records $9,8bn budget surplus
ZIMBABWE recorded a budget surplus amounting to $9,8 billion in the first quarter of 2021 on the back of continued fiscal consolidation measures and sustained macro-economic stability, Finance and Eco...Published: 08 Jun 2021 at 06:29hrs | 212 | by Staff reporter
Constituency petitions Biti to account for CDF
Residents of Harare East are up in arms against their legislator, Mr Tendai Biti, over alleged misappropriation of the Constituency Development Fund (CDF).Members of Parliament, Mr Bit include...Published: 07 Jun 2021 at 22:44hrs | 900 | by Staff reporter
MDC linked think-tank raps Mthuli Ncube over use of SIs to set policy
LEGAL think-tank Veritas has accused Finance minister Mthuli Ncube of enacting laws through statutory instruments, which it says was a ploy by the minister to avoid parliamentary scrutiny.In i...Published: 07 Jun 2021 at 06:08hrs | 1919 | by Staff reporter
Zimbabwe's biggest diamond miner sees output rising 30% in 2021
THE biggest diamond miner in Zimbabwe said it will be able to increase production of rough gems by about 30% to 3 million carats this year thanks to improved mining methods.Zimbabwe Consolidat...Published: 06 Jun 2021 at 18:15hrs | 298 | by Staff reporter
Govt to ban firms from forex auctions over 'rampant abuse'
ZIMBABWE has threatened to ban traders from the country's foreign-exchange auction platform for exploiting the gap between black-market and official currency prices.Authorities are dealing wit...Published: 06 Jun 2021 at 17:48hrs | 510 | by Bloomberg
Introducing the First Cabinet of the Federal Republic of Mthwakazi
Greetings to all! As I extend my cordial greetings to all our people, the people of Mthwakazi in their diversity comprising eight different linguistic communities, located in the 14 Districts ...Published: 06 Jun 2021 at 13:43hrs | 2424 | by Dr Churchill Mpiyesizwe Guduza
Mangudya plays down forex crisis
RESERVE Bank of Zimbabwe (RBZ) governor John Mangudya has down-played fears of an industrial bloodbath in the aftermath of government's move two weeks ago to effect far reaching reforms to stem the ab...Published: 06 Jun 2021 at 10:00hrs | 1007 | by Staff reporter
Zimbabwe forex rules 'a tragedy of good intentions'
LAST week's promulgation of Statutory Instrument 127 of 2021, which penalises issuance of local currency receipt for foreign currency purchases and pricing goods above the official auction rate, among...Published: 06 Jun 2021 at 09:59hrs | 266 | by Staff reporter
Business has learned nothing and forgot nothing
SO there was this prominent businessman-cum-pastor who was obsessed with religiously lampooning politicians as occultic during his daily sermons.Preaching from his moral high horse, the raboni...Published: 06 Jun 2021 at 09:50hrs | 84 | by Bishop Lazarus
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 | 96 | by Staff reporter
Zimbabwe fuel prices slashed
ZIMBABWE Energy Regulatory Authority (ZERA) Saturday announced the reduction of fuel prices as the country inflation continues to tumble on the back of the government economic reforms.The sout...Published: 05 Jun 2021 at 19:12hrs | 4691 | by Staff reporter
Govt to review pensioners' payouts upwards to US$60
PUBLIC Service, Labour and Social Welfare minister Paul Mavima yesterday revealed that pensioners' payouts would be reviewed upward to US$60 per month by December this year from the current US$25....Published: 05 Jun 2021 at 09:21hrs | 1025 | 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 | 1128 | by Staff reporter
Zanu-PF cajoles business for support
THE ruling party Zanu-PF says businesses owe President Emmerson Mnangagwa votes in the 2023 elections since his policies are responsible for their success and they should repay by supporting the presi...Published: 05 Jun 2021 at 09:17hrs | 147 | by Staff reporter
Errant fuel dealers face arrest
Petroleum companies buying fuel in local currency and then selling it in United States dollars will face prosecution and other legal action, Energy and Power Development Minister Zhemu Soda has warned...Published: 04 Jun 2021 at 07:02hrs | 390 | 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 | 689 | by Victor Bhoroma
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