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Mthuli Ncube told to double devolution allocation
FINANCE minister Mthuli Ncube has been urged to double the allocation of devolution funds to 10% of the national budget as stipulated in the Constitution as compared to the current 5%.The issu...Published: 10 hrs ago | 1191 | by Staff reporter
IMF lowers Zimbabwe GDP growth further
THE International Monetary Fund (IMF) says Zimbabwe's economy will contract by 10,4% this year, much higher than its earlier prediction of 7,4%, but expects a rebound next year.It also expects...Published: 16 Oct 2020 at 07:24hrs | 1626 | by Staff reporter
De-listing wave hits ZSE
FIVE counters have announced plans to de-list from the Zimbabwe Stock Exchange (ZSE), precipitating fears that a new forex-denominated bourse planned for Victoria Falls could ground one of Africa's ol...Published: 16 Oct 2020 at 07:19hrs | 2975 | by Staff reporter
Mthuli Ncube clarifies 2% tax
WHILE the objective of Intermediate Money Transfer Tax (IMTT) was to bring the previously untaxed informal businesses under the tax bracket, captains of industry claim it has had double taxation effec...Published: 16 Oct 2020 at 06:52hrs | 2904 | by Staff reporter
Biti wants teachers to be paid US$520 salaries
Former Finance minister Tendai Biti (Harare East MP MDC Alliance) said government should pay teachers the US$520 salaries they used to get before the re-introduction of the Zimbabwe dollar.Gov...Published: 15 Oct 2020 at 07:27hrs | 4452 | by Staff reporter
Zimbabwe to introduce higher denomination notes
The Reserve Bank of Zimbabwe is expected to introduce higher denomination notes, which will see the amount of physical cash in circulation double to $3 billion. A member of the RBZ's MPC Eddie...Published: 15 Oct 2020 at 07:02hrs | 5701 | by Staff reporter
Civil servants laugh off salary hike
CIVIL SERVANTS yesterday reacted angrily to government's pronouncement that the US$75 monthly COVID-19 allowance would now be enjoined to their salaries and accused the Public Service Commission (PSC)...Published: 15 Oct 2020 at 06:50hrs | 5917 | by Staff reporter
RBZ keeps policy rate at 35%
THE Reserve Bank of Zimbabwe (RBZ) said on Monday its monetary policy committee (MPC) had agreed to maintain the policy rate at 35% as part of measures to keepspeculative borrowing at bay....Published: 15 Oct 2020 at 06:43hrs | 385 | by Staff reporter
Zimbabwe industry demands complete reforms
ZIMBABWE'S industry has proposed a raft of far-reaching reforms to be incorporated in Finance minister Mthuli Ncube's 2021 national budget, including the abolishment of subsidies.In its propos...Published: 15 Oct 2020 at 06:42hrs | 391 | by Staff reporter
Zimdollar demand spikes
THE continued consolidation of the Zimbabwean dollar gains on the official market-driven foreign currency auction platform has created huge demand for the local currency on the back of growing confide...Published: 15 Oct 2020 at 06:37hrs | 1953 | by Staff reporter
RBZ dismisses reports of local US$ RTGS accounts
The Reserve Bank of Zimbabwe has dismissed social media reports that banks are opening new accounts referred to as "local USD RTGS transactions", describing the reports as "false and misleading", basi...Published: 15 Oct 2020 at 06:36hrs | 2243 | by Staff reporter
Civil servants' salaries clarified
A newly-qualified teacher now earns $12 591,15, while the least paid civil servant earns $11 350,15, inclusive of the US$75 Covid-19 allowance, which will be accessed simultaneously on pay days as the...Published: 15 Oct 2020 at 06:33hrs | 2246 | by Staff reporter
Mnangagwa set to reopen borders
THE government yesterday said it has decided to send a team of experts to all ports of entry to assess whether the country is ready to open its borders amid the continued decline in cases of coronavir...Published: 14 Oct 2020 at 07:06hrs | 17305 | by Staff reporter
Retailers rip off consumers
THE Confederation of Zimbabwe Retailers (CZR) has accused several retail outlets in Bulawayo of violating exchange rate regulations and legal requirements compelling them to display prices of goods in...Published: 14 Oct 2020 at 06:36hrs | 1981 | by Staff reporter
Zimbabwe annual inflation tumbles to 659%
THE annual inflation rate dropped 101,62 percentage points to 659,4% last month, as recent gains of the local currency against the greenback continue to reflect on its strength.The drop in the...Published: 14 Oct 2020 at 06:35hrs | 692 | by Staff reporter
Zimbabwe's monthly inflation falls as Zimdollar firms
Monthly inflation between mid-August and mid-September fell to 3,83 percent, according to the latest figures from ZimStat, and is likely to continue falling with yesterday's foreign currency auction s...Published: 14 Oct 2020 at 06:27hrs | 770 | by Staff reorter
Zimdollar stable against the real US dollar
The Reserve Bank of Zimbabwe says on average US$5-$6 million is trading formally outside the foreign currency auction system every week within prescribed margins while there has been an increased numb...Published: 13 Oct 2020 at 20:54hrs | 3178 | by Staff reporter
How to avoid Bitcoin scams
Bitcoin scams are everywhere and with cryptocurrency being a valuable asset in the world today, it easily attracts more criminals. There have been multiple reports of scams in recent years worth up to...Published: 12 Oct 2020 at 20:28hrs | 2593 | by Staff writer
Nkomo 1983 Prophetic Letter to Mugabe
DR. JOSHUA M. NKOMO2 Stevenage RoadEast Ham E6 2WLLondon United Kingdom7th June 1983 Dear Robert,1. I write to you as a citizen of Zimbabwe and one of the leade...Published: 12 Oct 2020 at 13:58hrs | 19463 | by Dr Joshua M Nkomo
Catholic Church sets up recording studio
THE Catholic Church has set up a state-of-the-art studio, Anesu Recording Studio, in the capital to both gospel and circular musicians.In an interview with NewsDay Life & Style, Zimbabwe C...Published: 12 Oct 2020 at 06:12hrs | 310 | by Staff reporter
'Remove clause on recalling of MPs'
NATIONAL Constitutional Assembly (NCA) president Lovemore Madhuku has challenged political parties and ordinary citizens to call for the removal of a clause in the Constitution providing for the recal...Published: 11 Oct 2020 at 17:02hrs | 5105 | by Staff reporter
Zimbabwe is missing out on gold's rally
Gold might have rallied to a record high above US$2 070 this year, but policy missteps by the Zimbabwean authorities saw the southern African country missing out on the uplift.Zimbabwe, which ...Published: 11 Oct 2020 at 11:59hrs | 1309 | by Staff reporter
Zimbabwe is our only home
Gogo Chapo moved up and down the whole night checking on her sons Enock and John who were recuperating at their respective homes after a thorough beating by the settler forces. The cat had com...Published: 11 Oct 2020 at 11:18hrs | 1280 | by Thomas Tondo Murisa
Fresh headway in stock market plan
ZIMBABWE inched closer to establishing the Victoria Falls Stock Exchange (VFEX) on Friday, after the central bank and the Zimbabwe Stock Exchange (ZSE) inked a deal spelling out terms of a settlement ...Published: 11 Oct 2020 at 10:59hrs | 368 | by Staff reporter
Mthuli Ncube glosses over crisis?
"WE are not shrinking," said Finance minister Mthuli Ncube, while giving an economic update at a press conference last Monday.The minister said that while countries such as the United States, ...Published: 11 Oct 2020 at 10:52hrs | 2378 | by Staff reporter
Zimbabwe's health system in ICU
IN Zimbabwe, pregnant women are left alone in hospitals to give birth, taps have run dry in major urban centres, infrastructure has all but collapsed and more than half the population needs food aid....Published: 11 Oct 2020 at 10:38hrs | 130 | by Bloomberg
Gweru introduces US$30 clamping fee
GWERU residents and motorists were left shocked when the Gweru City Council increased the clamping fees to US$30 from ZWL $45 while the local authority is now charging US$1 for parking fees per hour....Published: 11 Oct 2020 at 10:30hrs | 232 | by Staff reporter
Victoria Falls exchange primed to be the best
Government plans to make the Victoria Falls Stock Exchange (VFEX), which will provide an avenue for foreign currency listings, one of the best in the region whose rules and regulations are in line wit...Published: 11 Oct 2020 at 10:02hrs | 277 | by Staff reporter
Slow pace of reforms derailed TSP
The Zimbabwean government recently announced the conclusion of the 2 year Transitional Stabilization Programme (TSP) which will be replaced by the first five year National Development Plan (NDP). TSP ...Published: 11 Oct 2020 at 10:00hrs | 88 | by Victor Bhoroma
Key pieces to Zimbabwe's $12 billion mining industry
In October 2019, the Zimbabwean government tabled an ambitious policy document that aims to turn the mining sector in the country into a US$12 billion industry by 2023. Achieving that export target wi...Published: 11 Oct 2020 at 09:54hrs | 74 | by Victor Bhoroma
Prof Steve Hanke's no hyperinflation in Zim comment angers Biti
MDC Alliance Vice President, Tendai Biti, leading that party's Economic Portfolio is this week set to meet representatives of the US Embassy in Harare to express that party's dismay over positive soci...Published: 11 Oct 2020 at 08:07hrs | 2224 | by David Mwanza
Slow pace of reforms derailed TSP
The Zimbabwean government recently announced the conclusion of the 2 year Transitional Stabilization Programme (TSP) which will be replaced by the first five year National Development Plan (NDP). TSP ...Published: 10 Oct 2020 at 12:04hrs | 897 | by Victor Bhoroma
Tempers flare as RBZ debt spikes
GOVERNMENT was this week caught in the eye of a storm after the Reserve Bank of Zimbabwe (RBZ) said it had accumulated US$2,23 billion in fresh debt between July 2019 and July 2020.Authorities...Published: 09 Oct 2020 at 10:20hrs | 4491 | by Staff reporter
New twist to Croco ownership wrangle
toP businessman Farai Matsika has raised 11 points challenging the High court ruling, which concluded that he had fabricated documents in a bid to fraudulently snatch 30 percent shareholding in croco ...Published: 09 Oct 2020 at 10:14hrs | 1364 | by Staff reporter
Relief for Mpilo cancer patients
GOVERNMENT has approved the release of US$55 000 towards repair of malfunctioning cancer machines at Mpilo Central Hospital in Bulawayo.This was confirmed by Health and Child Care deputy minis...Published: 09 Oct 2020 at 10:04hrs | 247 | by Staff reporter
Zimbanwe govt targets 75% industry capacity
GOVERNMENT is targeting to increase manufacturing capacity utilisation from an average of 40 percent in 2019 to 75 percent by 2023 while US$2 billion will be required to retool industry, Finance and E...Published: 09 Oct 2020 at 09:57hrs | 104 | by Staff reporter
Mnangagwa says teachers cannot hold Govt to ransom
PRESIDENT Mnangagwa has said the Government will not be arm-twisted by striking teachers into succumbing to their demands, saying only those reporting for duty will be paid. Teacher representa...Published: 09 Oct 2020 at 09:52hrs | 2870 | by Staff reporter
Zimbabwe targets 75% industry capacity
GOVERNMENT is targeting to increase manufacturing capacity utilisation from an average of 40 percent in 2019 to 75 percent by 2023 while US$2 billion will be required to retool industry, Finance and E...Published: 09 Oct 2020 at 08:26hrs | 875 | by Staff Reporter
Roller meal scheme revised
VULNERABLE households will start receiving cash grants pegged at a higher level than the price of roller meal to enable them to source the basic commodity from any place of their choice, President Mna...Published: 08 Oct 2020 at 06:42hrs | 542 | by Staff reporter
Only 29% Zimbabwe teachers reporting for work
Only 29 percent of teachers are reporting for duty at Zimbabwe's public school as the majority of instructors boycott work over poor working conditions, APA learnt here on Wednesday.Primary an...Published: 07 Oct 2020 at 18:19hrs | 623 | by APA
Zimbabwe has lowest mobile money transaction limits in Africa
Zimbabwe has been singled out as one of the countries with a lowest daily mobile money transaction limits in Africa, a development seen as hindering the growth of the mobile money sector and hampering...Published: 07 Oct 2020 at 17:12hrs | 528 | by Agencies
Teachers, govt talks face hurdles
NEGOTIATIONS between teachers and government over salaries could hit a snag, with the employer expressing fear that further salary adjustments could trigger inflation and reverse the gains made by gov...Published: 07 Oct 2020 at 07:03hrs | 1140 | by Staff reporter
ZCTU urges govt to act on rogue businesses
THE Zimbabwe Congress of Trade Unions (ZCTU) has called on government to act on businesses refusing to use the official exchange rate in pricing of products and services, thereby prejudicing the consu...Published: 07 Oct 2020 at 07:02hrs | 509 | by Staff reporter
Zimdollar continues to trade within range of cash parallel rates
The local currency added a marginal 0.11715% after it firmed up against the dollar in the latest auction as it continues to reposition itself in the world of currencies based on supply and demand. The...Published: 06 Oct 2020 at 20:22hrs | 2531 | by Staff reporter
Teachers' unions should be realistic, says Govt
Teachers' unions need to be realistic in their engagements with the Government over salaries, taking into consideration the present economic challenges, Public Service, Labour and Social Welfare Minis...Published: 06 Oct 2020 at 20:17hrs | 780 | by Staff reporter
'Prices of goods to remain stable'
FINANCE minister Mthuli Ncube, said yesterday that Zimbabwe's economy would improve further in the coming months, with prices of basic consumer goods and services expected to remain stable.Add...Published: 06 Oct 2020 at 20:15hrs | 399 | by Staff reporter
Mthuli Ncube rules out de-dollarisation
Finance Minister Mthuli Ncube says that Zimbabwe is beginning to engage multilateral creditors, with a view of clearing its US$1.8 billion arrears, which will see the country unlock fresh funding to a...Published: 06 Oct 2020 at 07:25hrs | 7010 | by Staff reporter
Mthuli Ncube scoffs at poverty reports
FINANCE minister Mthuli Ncube has dismissed reports of high poverty levels in the country arguing that the cushion extended by government to vulnerable groups had made "instant impact" and thus elimin...Published: 06 Oct 2020 at 07:10hrs | 935 | by Staff reporter
Civil servants to continue receiving COLA allowance
GOVERNMENT will continue paying civil servants the additional Cost of Living Adjustment (COLA) allowance as salary negotiations continue. Most civil servants received the COLA payment for last...Published: 06 Oct 2020 at 06:48hrs | 1363 | by Staff reporter
Mthuli Ncube says Covid-19 won't hit economy as hard
Zimbabwe's finance minister said on Monday the economy would not be as severely impacted by the Covid-19 pandemic as initially feared and foreign currency inflows had shown resilience.The sout...Published: 05 Oct 2020 at 17:24hrs | 566 | by Staff reporter
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