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RBZ orders corporates to bank US$ earnings into domestic nostro accounts
THE Reserve Bank of Zimbabwe (RBZ) has ordered all corporates receiving foreign currency, to deposit the money into their domestic nostro bank accounts. Last week, the RBZ lifted the ban on th...Published: 4 hrs ago | 867 | by Staff reporter
Re-imagining the post-COVID-19 political scene in Zimbabwe
There is no denying that the global pandemic figuratively known as COVID-19 has disrupted our everyday lives. Even our economies have ground to a halt. Our educational institutions have been for...Published: 4 hrs ago | 165 | by Admire Mare
RBZ suspends forex rule
THE Reserve Bank of Zimbabwe (RBZ) has suspended the 30-day foreign currency balance liquidation requirement for exporters as well as its attendant penalty system so as to minimise the impact of Covid...Published: 4 hrs ago | 268 | by Staff reporter
US$ revenues for own use: RBZ
Corporates receiving free funds from domestic transactions are allowed to use the funds for their own use either for foreign or for domestic payments, the Reserve Bank of Zimbabwe has said. Go...Published: 4 hrs ago | 177 | by Staff reporter
Mnangagwa okays US dollar use
PRESIDENT Emmerson Mnangagwa has gazetted Statutory Instrument 85/20, which will allow citizens and businesses to charge goods and services using the United States (US) dollar as part of combating the...Published: 21 hrs ago | 4463 | by Staff reporter
RBZ suspends 30-day forex liquidation requirement
The Reserve Bank of Zimbabwe has suspended the 30-day liquidation requirement on un-utilized foreign currency balances for exporters to support its use of free-funds policy. Last week the RBZ ...Published: 31 Mar 2020 at 11:12hrs | 2176 | by Staff reporter
Police patrol streets as Zimbabwe begins coronavirus lockdown
Zimbabwe on Monday began enforcing a three-week lockdown in its fight against coronavirus after the disease left one person dead and infected six others.President Emmerson Mnangagwa declared a...Published: 31 Mar 2020 at 08:46hrs | 1339 | by AFP
Mthuli Ncube redirects 2020 budget allocations to fight Covid-19
GOVERNMENT has availed $500 million and approved recruitment of 4 200 health workers as part of a wider Covid-19 (coronavirus) mitigation measures, that include redirecting the 2020 budget expenditure...Published: 31 Mar 2020 at 07:56hrs | 671 | by Staff reporter
High lockdown compliance on Day-One
THE majority of Zimbabweans yesterday complied with the Government's lockdown directive as most of them stayed at home while a few visited shopping centres to buy essential goods.President Mna...Published: 31 Mar 2020 at 07:54hrs | 188 | by Staff reporter
Mthuli Ncube releases $500 million for Covid-19 fight
Finance Minister Mthuli Ncube says government has released ZWL$500 million to fight against COVID-19, and is ready to attend to further requests on this issue. In addition, Ncube said Tre...Published: 30 Mar 2020 at 19:02hrs | 2934 | by Moyo Roy
Zimbabwe parallel market rates nosedive
THE value of the United States dollar against the Zimbabwe dollar on the parallel market has nosedived due to a drop in demand, economists have said.The depreciation comes hardly a week after ...Published: 30 Mar 2020 at 18:58hrs | 7511 | by Staff reporter
South African Rand falls to record overnight low against dollar
The rand fell to its lowest level ever against the dollar in overnight trade, as global markets reacted to the downgrade of SA's last remaining investment-grade credit rating to junk by Moody's....Published: 30 Mar 2020 at 08:36hrs | 3929 | by Staff reporter
COVID-19: Zimbabwe's exemptions to the lockdown
Zimbabwe begins its 21-day lockdown today as it tries to curb the spread of Covid-19 in a country, which has limited testing capabilities. The latest update from the Ministry of Health and Child...Published: 30 Mar 2020 at 08:34hrs | 1342 | by Staff reporter
COVID-19: Zimbabwe begins 21-day lockdown
Zimbabwe begins its 21-day lockdown today as it tries to curb the spread of Covid-19 in a country, which has limited testing capabilities. The latest update from the Ministry of Health and Child...Published: 30 Mar 2020 at 08:33hrs | 338 | by Staff reporter
Hive of activity as residents do last-minute shopping
THERE was a hive of activity in Bulawayo and Gweru yesterday as hundreds of people made last-minute shopping to beat the Government 21-day lockdown to flatten the coronavirus curve. President ...Published: 30 Mar 2020 at 08:12hrs | 250 | by Staff reporter
Businessman challenges auctioning of property
PROMINENT Bulawayo businessman Ismail Moosa Lunat has approached the High Court challenging the auctioning of his property over a debt of more than US$384 000 that he owes fellow businessman Mr Mohamm...Published: 30 Mar 2020 at 08:11hrs | 279 | by Staff reporter
Delta raises caution on beverages supply
ZIMBABWE'S largest beverages maker, Delta Corporation, says it has not scaled-down operations but supplies would likely go down after Government announced a total lockdown starting today in light of t...Published: 30 Mar 2020 at 08:09hrs | 212 | by Staff reporter
Red flag over Mnangagwa's lockdown
The government yesterday moved to exempt certain sectors from the lockdown that begins tomorrow after industry warned that forcing all companies to shut down will ground the fragile economy.Pr...Published: 29 Mar 2020 at 11:19hrs | 8367 | by Staff reporter
Old Mutual faces money laundering charges
THE Securities and Exchange Commission of Zimbabwe (SECZ) has launched an investigation into suspected illicit activities surrounding trading in fungible stocks linked to three listed companies — Ol...Published: 29 Mar 2020 at 07:27hrs | 635 | by Staff reporter
Sex workers scramble for operating space
STANDING at a dimly lit street corner opposite a once-popular nightclub in Bulawayo, five skimpily dressed sex workers flag down passing vehicles and individuals on foot soliciting for clients....Published: 28 Mar 2020 at 13:49hrs | 2237 | by Staff reporter
Re-dollarisation must be wholesome and comprehensive
We note with serious concern the regime’s half-hearted attempt to re-dollarise in a grossly inadequate way that does not even begin to address the count...Published: 28 Mar 2020 at 11:20hrs | 1741 | by MDC Communications
Impact of COVID 19 on Zimbabwean Economy
The outbreak of the novel Corona Virus (COVID-19) poses a significant threat to the world economy and to Zimbabwe's fragile economy too. So far the virus has infected close to 470 000 people from 200 ...Published: 28 Mar 2020 at 10:08hrs | 844 | by Victor Bhoroma
Zanu-PF benefactor in murky Zupco bus deal
PRESIDENT Emmerson Mnangagwa's advisor and Sakunda Holdings boss Kuda Tagwirei, whose tentacles stretch across a vast spectrum of the economy, has been acquiring buses for Zupco's public transportatio...Published: 28 Mar 2020 at 08:10hrs | 5531 | by Staff reporter
Mnangagwa's second chance to unite Zimbabwe
FOR the first time in a very long while the world has experienced no violence of war and gangsterism that had become the order of day on Mother Earth. The rattling automatic weaponry and booming of le...Published: 28 Mar 2020 at 07:42hrs | 482 | by Staff reporter
Zimbabwe businesses welcome US$ relaxation
The black market exchange rate for the United States dollar is likely to fall following the relaxation of the usage of free funds by the Reserve Bank of Zimbabwe (RBZ) on Thursday. Business le...Published: 28 Mar 2020 at 07:35hrs | 465 | by Staff reporter
South Africa's lockdown may push Zimbabwe to the edge
As South Africa's 21-day national lockdown comes into effect, the ramifications of this decision will be felt strongly across the Southern African region, most acutely by its northern neighbour, Zimba...Published: 27 Mar 2020 at 16:09hrs | 5364 | by Webster Zambara
Business as usual as Covid wreaks havoc
Hundreds of thousands of people in the five southern provinces of Zimbabwe continue to do business as usual including gathering in overcrowded places, selling food in the streets, hugging and clubbing...Published: 27 Mar 2020 at 12:26hrs | 1365 | by Staff reporter
RBZ takes MDC advice on redollarization but....
At long last it has happened. The RBZ has finally announced in its 26th March Monetary Policy an...Published: 27 Mar 2020 at 09:30hrs | 4144 | by Dr Tapiwa Maji-Marefu Mashakada Economist and MDC Secretary for Policy and Research
US dollar unbanned in Zimbabwe
THE Reserve Bank of Zimbabwe (RBZ) yesterday suspended its ban on use of foreign currency in carrying out internal transactions and abandoned the managed floating exchange rate as a measure to facilit...Published: 27 Mar 2020 at 06:45hrs | 2827 | by Staff reporter
War vets support 'fungibility' ban
The Zimbabwe National Liberation War Veterans Association (ZNLWVA) has dismissed a story in a local weekly newspaper headlined "Fungibility shares ban unlawful", as an act of intimidation towards Gove...Published: 27 Mar 2020 at 06:35hrs | 524 | by Staff reporter
Trade freely in forex, says RBZ
THE Reserve Bank of Zimbabwe (RBZ) has given consumers and businesses greenlight to trade in foreign currency and suspended, until further notice, any increase in charges related to the provision of e...Published: 27 Mar 2020 at 06:31hrs | 1322 | by Staff reporter
BREAKING: RBZ re-introduces the United States Dollar
The Governor of the Reserve Bank of Zimbabwe John Panonetsa Mangudya has announce that the United States Dollar can now be used as legal tender until further notice. In a statement issue...Published: 26 Mar 2020 at 18:05hrs | 7743 | by Mandla Ndlovu
V11 on self redollarisation in Zimbabwe evident in Makamba Hospital case - Mashakada
MDC top official Tapiwa Mashakada has said the evidence has been clearly been exposed that Zimbabwe is redollarising in a case of the late journalist Zororo Makamba's hospitalisation at Wilkins Hospit...Published: 26 Mar 2020 at 07:58hrs | 6655 | by Stephen Jakes
Zimbabweans unhappy
A WORLD happiness report released last week has ranked Zimbabweans among the saddest citizens in the world, only higher than the war-ravaged Afghanistanis and South Sudanese.The World Happines...Published: 25 Mar 2020 at 15:14hrs | 1659 | by Staff reporter
High Court orders Zera to suspend licensing fees hike
The High Court has ordered the Zimbabwe Energy Regulatory Authority (Zera) to suspend its new licensing requirements for fuel companies after a successful challenge by indigenous firms, it has emerged...Published: 25 Mar 2020 at 08:40hrs | 925 | by Staff reporter
Company challenges USD-Zimdollar ruling
THE legal validity of a Supreme Court judgment which converted United States dollar debts to the Zimdollar at a rate of 1:1 in line with Statutory Instrument 33 of 2019, must be tested by a nine-judge...Published: 25 Mar 2020 at 05:45hrs | 1167 | by Staff reporter
Achieving an efficient interbank market
The Zimbabwean government announced that it was going to introduce a managed floating exchange rate system in order to manage exchange rate volatility. The move is also aimed at bringing transparency ...Published: 24 Mar 2020 at 18:32hrs | 1129 | by Victor Bhoroma
ZORORO MAKAMBA's case: Doctors and hospitals tell patients: Show us the money before treatment
Doctors and hospitals are increasingly asking patients to pay up front for treatment regardless of the condition of the patient. Considering the state of our hospitals the ministry of Health must do m...Published: 24 Mar 2020 at 14:21hrs | 4269 | by Dr Masimba Mavaza
Achieving an efficient interbank market
The Zimbabwean government announced that it was going to introduce a managed floating exchange rate system in order to manage exchange rate volatility. The move is also aimed at bringing transparency ...Published: 24 Mar 2020 at 11:58hrs | 917 | by Victor Bhoroma
Zimbabwe among world's unhappiest countries
ZIMBABWEANS are among the world's saddest people with the recent annual United Nations world happiness report ranking the country in the top five of the world's unhappiest countries.The southe...Published: 23 Mar 2020 at 13:30hrs | 2877 | by Staff reporter
Zimbabwe government's land for compensation offer is misleading
Widespread reports that former Zimbabwean commercial farmers can now apply to repossess their land under new regulations gazetted by the government, Statutory Instrument (SI) 62 of 2020, published on ...Published: 23 Mar 2020 at 09:33hrs | 1082 | by Glyn Hunter
TNF partners must not agree on poverty datum line based on false assumption - ZCTU
Zimbabwe Congress of Trade Unions Secretary General Japhet Moyo has warned the Tripatrite Negotiation Forum (TNF) members not to agree on Poverty Datum Line (PDL) based pay which is based on false ass...Published: 23 Mar 2020 at 07:26hrs | 659 | by Stephen Jakes
Government awaits technical report on Gwanda solar project
THE Government is awaiting a technical report from Zesa Holdings to make a decision on the way forward with regards to the commencement of work at the proposed 100-megawatt Gwanda Solar Farm project i...Published: 23 Mar 2020 at 05:30hrs | 215 | by Staff reporter
US$5 for a mask in Zimbabwe
IN Italy, it is not illegal drug traffickers that the police are after anymore, but pushers of masks and sanitisers.Could Zimbabwe find itself in a similar situation?A survey by this p...Published: 23 Mar 2020 at 05:29hrs | 414 | by Staff reporter
Zimbabwe Space dream edges closer
ZIMBABWE has taken another step towards realisation of a vision to launch its satellites into space after finalising a $25 million agreement to upgrade the TelOne Satellite Centre in Mazowe and improv...Published: 23 Mar 2020 at 05:28hrs | 144 | by Staff reporter
Man breaks into car, steals over US$2000
A MAN from Nketa in Bulawayo allegedly broke into a parked vehicle and stole a satchel containing R20 000, US$2 300 and $3 000 local currency....Published: 22 Mar 2020 at 07:24hrs | 1865 | by Stephen Jakes
Jobs bloodbath hits Zimbabwe firms
A staggering 210,333 jobs were made redundant in 2019 as local companies threw workers onto the streets in response to the realities of a debilitating liquidity crunch, low productivity, punitive real...Published: 21 Mar 2020 at 06:21hrs | 3072 | by Staff reporter
IMF team returns to Zimbabwe
An International Monetary Fund (IMF) team will be in Zimbabwe next month for discussions on the second phase of the supervised economic reform plan after Harare missed targets it had set in the inaugu...Published: 21 Mar 2020 at 06:20hrs | 858 | by Staff reporter
$579 290 'fraudster' arrested
A Bulawayo man allegedly conned three people of nearly $600 000 on separate occasions after he claimed he could source United States dollars for them at affordable rates. Batsirai Ganyau...Published: 21 Mar 2020 at 05:50hrs | 814 | by Staff reporter
RBZ in fuel forex abuse storm
PARLIAMENT is investigating the Reserve Bank of Zimbabwe (RBZ)'s weekly foreign currency allocations to fuel importers amid revelations that foreign companies and some retailers who do not import the ...Published: 20 Mar 2020 at 20:42hrs | 3237 | by Staff reporter
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