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Bulawayo residents welcome move on illegal forex dealers
Ordinary citizens in Bulawayo have commended President Emmerson Mnangagwa for invoking the Presidential Powers Temporary Measures Amendment of Money Laundering and Proceeds of Crime Act and the Exchan...Published: 5 hrs ago | 1755 | by Staff reporter
Anti-laundering, illicit dealings law takes effect
A clampdown on ill-gotten and unexplained wealth obtained by individuals involved in money laundering, crime and other illicit dealings has come into effect following the amendment of Statutory Instru...Published: 5 hrs ago | 999 | by Staff reporter
Zimbabwe inflation hits the 20.8% mark, RBZ targets 7%
Zimbabwe's annual inflation rose sharply to a record 20.8 percent in October after it gained 15.46 percentage points from the September rate of 5.39 percent. The Consumer Price Index (CPI) for...Published: 8 hrs ago | 1085 | by Staff reporter
Rio Zim resumes operations
ZIMBABWE Stock Exchange-listed miner RioZim has resumed operations at three of its gold mines after reaching an agreement with Reserve Bank of Zimbabwe (RBZ) over foreign currency allocation. ...Published: 12 hrs ago | 862 | by Staff reporter
Industrial action against Mthuli Ncube looming
Air Zimbabwe has been allowed by the cabinet of President ED Mnangagwa to charge its clients (especially diasporas) in foreign currency. The confused minister in charge of Air Zimbabwe Joel Biggie Mat...Published: 12 hrs ago | 2812 | by Don Chigumba
Ncube needs consistency
Finance minister Mthuli Ncube will present his maiden National Budget next week Thursday against a background of huge economic challenges and public expectation that he is the man to help Zimbabwe out...Published: 13 hrs ago | 1677 | by Staff reporter
Mnangagwa tightens noose on cash barons
CASH barons who have been accused of fuelling parallel market currency rates and a raft of other economic ills will now face up to two years in prison if they fail to explain the source of their wealt...Published: 18 hrs ago | 3917 | by Staff reporter
Settling land compensation issue vital for Zimbabwe's economy
IN his inaugural address, the new President of Zimbabwe, Emmerson Mnangagwa, confirmed that land reform was both historically necessary and irreversible.He also made a commitment to compensate...Published: 18 hrs ago | 251 | by Ian Scoones
'Allow community to benefit from diamonds'
MANICALAND Provincial Affairs minister Ellen Gwaradzimba has alleged looting of diamonds by previous miners at Chiadzwa diamond fields and challenged the Zimbabwe Consolidated Diamond Company (ZCDC), ...Published: 18 hrs ago | 160 | by Staff reporter
Acie Lumumba turns ZACC informer?
Embattled Whistleblower William Mutumanje (Acie Lumumba) is reportedly working with the Zimbabwe Anti-Corruption Commission (ZACC) investigators in closing the net on suspected criminals a...Published: 18 hrs ago | 1681 | by Mandla Ndlovu
Plea to exempt cotton farmers from 2% tax
THE Cotton Company of Zimbabwe (Cottco) has proposed that cotton farmers be exempted from the 2% tax on electronic transactions as well as from the 10% withholding tax to help them build capacity....Published: 18 hrs ago | 147 | by staff reporter
2% tax derails industrial production
ZIMBABWE Congress of Trade Unions western region chairman Ambrose Sibindi has said since the announcement of the 2% tax by Finance minister Mthuli Ncube last month, many industries in Bulawayo have sc...Published: 18 hrs ago | 228 | by Staff reporter
Miners to retain 55% export earnings
THE Reserve Bank of Zimbabwe (RBZ) has agreed to increase large scale miners' retention of foreign currency from mineral exports to 55 percent to allow them to cover production costs. Recently...Published: 18 hrs ago | 252 | by Staff reporter
Mthuli Ncube trims monthly fiscal budget deficit
TREASURY has scored excellent progress in trimming monthly fiscal budget deficit as part of Government's economic reform agenda with September 2018 deficit reduced to $19 million against a target of $...Published: 18 hrs ago | 618 | by Staff reporter
The tale of two societies
Legislation is being put in place as l write this to convict illegal money changers for up to 10 years in prison.One would thing our government has just woken up to discover there are now economy sabo...Published: 12 Nov 2018 at 19:08hrs | 1270 | by AT Kadada
Supply, price of commodities normalise
Interventions by the government to normalise the supply of goods especially fuel and basic commodities are bearing fruit as fuel queues have disappeared with supermarkets shelves filled to the brim an...Published: 12 Nov 2018 at 18:17hrs | 5081 | by Staff reporter
1 year after Mugabe fall, Zimbabwe asks 'What has changed?'
One year ago the unthinkable happened in Zimbabwe: Robert Mugabe fell from power.Tanks rolled in the streets of the capital, Harare, on November 14, 2017, and the military put Mugabe under hou...Published: 12 Nov 2018 at 14:25hrs | 1893 | by AP
Zimbabwe teachers take salary fight to IMF
The Progressive Teachers Union of Zimbabwe will be meeting the International Monetary fund five-member mission on Tuesday to Zimbabwe to discuss labour issues.In a letter written by IMF's Beat...Published: 12 Nov 2018 at 13:47hrs | 2242 | by Mandla Ndlovu
Zimbabwe economic pain not being shared
Finance minister Mthuli Ncube's recent confirmation that government will soon buy vehicles for parliamentarians exposes government's insincerity in tackling its ballooning budget deficit.It al...Published: 12 Nov 2018 at 10:51hrs | 3384 | by Staff reporter
Lonely country - Zimbabwe Vigil Diary
A new Zimbabwean investment drive has been taking place in the UK with a delegation led by Priscah Mupfumira, Minister of Environment, Tourism and Hospitality Industry. She offered a few hollow banali...Published: 12 Nov 2018 at 06:55hrs | 997 | by Zimbabwe Vigil Diary
Zimbabwe's economic recovery is possible but whilst the country remains a pariah state, it is IMPOSSIBLE!
"AfDB President, Akinwumi Adesina, told journalists in Johannesburg this week that while Zimbabwe is making progress, its economy and relations with lenders are still a way from being repaired," repor...Published: 12 Nov 2018 at 06:46hrs | 1077 | by Nomusa Garikai
Panic as Mnangagwa targets cash barons' bank accounts
BOGUS businesspersons operating briefcase companies that fed on government tender manipulation and kickbacks to amass wealth are reportedly in panic mode after the State said it would use the Zimbabwe...Published: 12 Nov 2018 at 05:48hrs | 8368 | by Staff reporter
Bulawayo runs out of water treatment chemicals
BULAWAYO City Council (BCC) has run out of water treatment chemicals amid indications the local authority may be forced to stop the purification of the precious liquid unless foreign currency to procu...Published: 12 Nov 2018 at 05:44hrs | 731 | by Staff reporter
Chitando cornered over Hwange Colliery
Members of the Mines Parliamentary Portfolio Committee on Monday threatened not to pass the Mines ministry budget if Mines minister Winston Chitando continued to ignore previous recommendations to do ...Published: 12 Nov 2018 at 05:40hrs | 744 | by Staff reporter
Money is the root of all evil
We all use money every day and yet few of us really understand what these bits of paper or cotton or simply figures in a ledger really mean. But we know the stuff is important.In economic term...Published: 12 Nov 2018 at 05:38hrs | 949 | by Eddie Cross
'Diasporans should pay for Air Zimbabwe services in US$'
CABINET has resolved that Zimbabweans living in the diaspora should pay for Air Zimbabwe services in United States dollars, Transport and Infrastructural Development minister Joel Biggie Matiza has sa...Published: 12 Nov 2018 at 05:37hrs | 976 | by Staff reporter
Schweppes hikes Mazoe Orange Crush retail price
SCHWEPPES Zimbabwe Limited has increased the retail price for its Mazoe Orange Crush to $4 from $3,20 for a two-litre bottle citing rising costs of key imported ingredients. In view of the per...Published: 12 Nov 2018 at 05:29hrs | 1832 | by Staff reporter
Enough fuel for festive season, says Minister
ENERGY and Power Development Minister Dr Joram Gumbo has assured the nation of enough fuel supplies during the forthcoming festive season. In an interview on the sidelines of the just ended 20...Published: 12 Nov 2018 at 05:28hrs | 173 | by Staff reporter
Govt seeks investor for Air Zimbabwe
GOVERNMENT will this week float a tender for Air Zimbabwe seeking an investor to turnaround the fortunes of the troubled national airline. Speaking at the just ended 2019 pre-budget seminar in...Published: 12 Nov 2018 at 05:26hrs | 189 | by Staff reporter
New law on illegal currency trading welcome
WE welcome President Emmerson Mnangagwa's decision to use temporary powers for a new law that will see illegal currency traders being sentenced to up to 10 years in jail, while ill-gotten wealth will ...Published: 12 Nov 2018 at 05:23hrs | 2116 | by Staff reporter
Mnangagwa doing things differently from Mugabe
Much to the chagrin of the opposition dictatorship, Nkosana Moyo predicted, well before the elections, that a President Emmerson Mnangagwa would do things, (not necessarily well), but certainly differ...Published: 11 Nov 2018 at 12:55hrs | 3380 | by Zifiso Masiye
'Bond notes have been a success'
RESERVE Bank of Zimbabwe governor John Mangudya had a torrid time at the pre-budget seminar for legislators in Bulawayo last week when he was grilled over currency problems bedevilling the country....Published: 11 Nov 2018 at 12:26hrs | 1962 | by Staff reporter
Forex shortages cripple cooking oil maker
Surface Wilmar, the country's largest cooking oil manufacturer, says it owes its external suppliers US$22 million because of acute foreign currency shortages locally.The revelations were made ...Published: 11 Nov 2018 at 12:24hrs | 562 | by Staff reporter
All eyes on Mthuli Ncube
FINANCE and Economic Development minister Mthuli Ncube's maiden national budget should target the revival of the productive sectors of the economy to set the tone for revival, business has advised....Published: 11 Nov 2018 at 12:24hrs | 1226 | by Staff reporter
Questions Mthuli Ncube won't answer
With the economy in a tailspin, Finance minister Mthuli Ncube's role has become ever so important, but instead of being accessible, he has shied away from the media.In the past few weeks, his ...Published: 11 Nov 2018 at 12:10hrs | 1019 | by Staff reporter
Mthuli Ncube tax evokes memories of 2008 crisis in Zimbabwe
When Zimbabwean President Emmerson Mnangagwa appointed a comparatively youthful, Cambridge-trained economist as finance minister in September, he gave him an almost impossible task: repay billions of ...Published: 11 Nov 2018 at 10:25hrs | 1110 | by Bloomberg
Why has Africa not developed after attaining independence?
Dear AfricaI grew up thinking that Africa was once referred to as a dark continent because most of its inhabitants are dark in complexion. Honestly it didn't bother me because to me black is r...Published: 11 Nov 2018 at 09:21hrs | 360 | by Munya Shumba
All hands on the deck
Any diligent and committed worker 'goes out of his way' to deliver or bring the best out of his/her performance, sometimes 'burning the candle through witching hours'. It is very unfortunate if one th...Published: 11 Nov 2018 at 09:19hrs | 55 | by Staff reporter
Zimbabwe illegal currency dealers to be jailed for 10 years
President Emmerson Mnangagwa has used temporary powers for a new law that will see illegal currency traders being sentenced to up to ten years in jail, while ill-gotten wealth will be confiscated....Published: 11 Nov 2018 at 09:17hrs | 1423 | by Staff reporter
Mnangaga ready to deal with Chamisa and his followers
Government has drawn a line in the sand following threats by the main MDC party to roll out a series of protests in order to get President Emmerson Mnangagwa's administration to end a full-blown econo...Published: 10 Nov 2018 at 16:49hrs | 15138 | by Staff reporter
Schools in USD fees U-turn
A number of private schools that were contemplating charging their fees in foreign currencies are now backtracking on the idea which could have pushed away some of their learners.In the wake o...Published: 10 Nov 2018 at 16:46hrs | 4890 | by Staff reporter
Mnangagwa's govt sabotage teachers' march
Teachers have accused government of sabotaging their march after some headmasters were reportedly directed to hold compulsory meetings with teachers yesterday afternoon to deter them from protesting o...Published: 10 Nov 2018 at 11:50hrs | 2961 | by Staff reporter
Zimra puts cap on imported goods
THE Zimbabwe Revenue Authority (Zimra) has set the maximum quantities of good cross-border travellers can import for personal use that can be covered under the traveller's rebate.Travellers re...Published: 10 Nov 2018 at 11:06hrs | 1192 | by Staff reporter
Budget should address economic fundamentals, Mthuli Ncube urged
REPRESENTATIVES from various sectors of business have challenged Finance minister Mthuli Ncube to address critical issues such as the budget deficit and currency reforms when he presents the 2019 Nati...Published: 10 Nov 2018 at 11:03hrs | 144 | by Staff reporter
Zimbabwe pharmacies condemn the ill to death
THE country's sick have been condemned to death in the country by pharmacies that remain defiant and demand foreign currency payments for drugs. Just watching the events at pharmacies unfold as the da...Published: 10 Nov 2018 at 10:39hrs | 450 | by Andile Tshuma
Greedy MPs demand vehicles from cash strapped Zimbabwe govt
LEGISLATORS have said the Government has taken too long to buy them service vehicles with the issue being among the most topical during the ongoing 2019 Parliamentary pre-budget seminar in Bulawayo. ...Published: 10 Nov 2018 at 09:15hrs | 451 | by Staff Reporter
Excellent progress on Zimbabwe fiscal budget deficit reduction.
In the month of September 2018, the fiscal budget was balanced and the deficit was almost zeroProfessor Mthuli Ncube, Zimbabwe Minister of Finance said that there has been "Excellent progress ...Published: 09 Nov 2018 at 21:46hrs | 3657 | by Ndou Paul
'MDC want to unseat elected ED' - who elected him, even ZEC failed to verify its own result
President Mnangagwa rigged the 30 July 2018 elections cocksure his "Zimbabwe is open for business!" clarion call would deliver economic recover. Sadly, that has no happened, the flood of investors has...Published: 09 Nov 2018 at 19:43hrs | 4361 | by Nomusa Garikai
Reality check for Mthuli Ncube
Under-pressure Finance minister Mthuli Ncube faces a tough task in balancing policy measures that stabilise the economy and populist demands from the ruling party when he presents his much-awaited N...Published: 09 Nov 2018 at 17:18hrs | 4214 | by Staff reporter
Chinamasa refuses to meet World Banks officials
THE World Bank is making efforts to meet former Finance and Economic Development Minister and ZANU-PF secretary for finance Patrick Chinamasa to discuss "critical economic issues" according to a repor...Published: 09 Nov 2018 at 16:57hrs | 5228 | by Staff reporter
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