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NetOne crisis deepens
TROUBLED state-owned mobile phone operator NetOne has been beset by a myriad of problems that include network failure and a shortage of airtime recharge cards, which are attributed to a board wrangle....Published: 09 Aug 2020 at 10:02hrs | 2583 | by Staff reporter
Fresh fuel shortages hit Zimbabwe
FRESH fuel shortages have hit the country and in Bulawayo most service stations have been dry for the past week. A news crew took to the streets of Bulawayo and observed motorists queueing for refills...Published: 04 Aug 2020 at 08:08hrs | 739 | by Staff reporter
Fuel dealer accidentally burns house
AN illegal fuel dealer from St Alberts Business Center in Mashonaland Central province accidentally burnt his child and lost property worth thousands of United States dollars yesterday.Mafios ...Published: 03 Aug 2020 at 20:55hrs | 4219 | by Simbarashe Sithole
Fuel smuggling ring busted
Multiple fuel smuggling scams are being run in Zimbabwe with cheap fuel being smuggled from Mozambique, sometimes mislabelled to avoid customs duty, and sold or re-exported for hard currency while fue...Published: 03 Aug 2020 at 07:47hrs | 800 | by Staff reporter
Fake fertilisers floods the market
AN influx of fake fertilisers has hit the market in Zimbabwe as bogus dealers take advantage of the product's expensiveness in the formal market to the unsuspecting farmers, Standardbusiness has estab...Published: 02 Aug 2020 at 09:15hrs | 337 | by Staff reporter
Lavish party from hell triggers Covid-19 panic after two deaths
THE Bulawayo City Health Department has instituted an investigation after claims that a dozen of people who attended a lavish and wild birthday party thrown by a city socialite and businessman last mo...Published: 02 Aug 2020 at 07:38hrs | 4138 | by Staff Reporter
Informal traders defy Mnangagwa
INFORMAl traders, who are currently unable to ply their trade on the capital's pavements, have invaded open spaces around industrial areas, mainly in Graniteside, posing a COVID-19 health hazard as th...Published: 27 Jul 2020 at 08:51hrs | 3916 | by Staff reporter
ZimDollar future bright, says Mthuli Ncube
FINANCE and Economic Development Minister Professor Mthuli Ncube yesterday reiterated that there was no going back on the use of the Zimbabwe dollar, adding that the future of the local currency was "...Published: 25 Jul 2020 at 08:32hrs | 1754 | by Staff Reporter
Mnangagwa's govt clears air on ZSE, agent lines closure
GOVERNMENT has rubbished falsehoods published by CNBC, an American business news portal, alleging that security chiefs ordered the closure of the Zimbabwe Stock Exchange (ZSE) and agent lines for mobi...Published: 19 Jul 2020 at 09:18hrs | 2918 | by Staff reporter
Key aspects sinking the Zimbabwean Dollar
The Zimbabwean economy is rapidly re-dollarizing, less than 12 months after the government banned the trading of multiple currencies through Statutory Instrument 142 of 2019 and introduced a local cur...Published: 19 Jul 2020 at 07:03hrs | 3290 | by Victor Bhoroma
Forex fuel prices tumble
Fuel dealers allowed to charge in foreign currency are now competing on price, with most charging well below the legal maximums of US$1,28 a litre for petrol and US$1,09 for diesel. While fuel...Published: 16 Jul 2020 at 07:41hrs | 7929 | by Staff reporter
Man defrauded by forex dealer faces arrest
A Bulawayo man is facing arrest after he reported that he was defrauded of $120 000 by an illegal forex dealer.Police told Allan Majaha Sibanda that he had also committed a crime by illegally ...Published: 15 Jul 2020 at 08:45hrs | 3847 | by Staff reporter
Zimdollar depreciates 4.37% to 68.89 to the real dollar
The local currency depreciated a further 4.37% to the dollar to 68.8879 at the fourth auction as the spread between bids narrowed significantly to just 21 from 35 last week and 65 at the first auction...Published: 14 Jul 2020 at 19:06hrs | 1517 | by Staff reporter
It is time for Mthuli Ncube to go
Finance minister of Zimbabwe, Mthuli Ncube, PhD (cantab), has become the poster child of everything that is wrong with the management of affairs in Zimbabwe. He must go. Then and only then, will Zimba...Published: 12 Jul 2020 at 10:58hrs | 5191 | by Kenneth Mufuka
Millers table US$ price for subsidised mealie-meal
GRAIN millers have tabled a proposal to increase the price of subsidised roller meal from $70 to between US$2,50 and US$3,50 per 10 kilogramme to cushion themselves from operational challenges....Published: 12 Jul 2020 at 10:36hrs | 563 | by Staff reporter
'Zimbabwe's fuel pricing structure is flawed, uncompetitive'
AS the country reels under acute fuel shortages, compounded by the depreciating Zimbabwean dollar and limited foreign currency, senior reporter Tinashe Kairiza (TK) this week spoke to National Oil Inf...Published: 10 Jul 2020 at 07:11hrs | 1634 | by Staff reporter
Govt to audit US$ service stations
Government says it will conduct audits on fuel companies accessing the precious commodity through the reserve Bank of Zimbabwe foreign currency facility to check if they were not double-dipping by sel...Published: 10 Jul 2020 at 07:03hrs | 934 | by Staff reporter
RBZ floats $500 million Treasury Bills
THE Reserve Bank of Zimbabwe (RBZ) is seeking to raise $500 million through the issuance of Treasury Bills to fund Covid-19 pandemic expenditure. The pandemic which was first detected in China...Published: 03 Jul 2020 at 08:10hrs | 1089 | by Staff reporter
RBZ invites all forex holders to use new auction systems
The Reserve Bank of Zimbabwe (RBZ)'s monetary policy committee (MPC) has implored all holders of foreign currency to sell their money through the apex bank's auction market at their preferred prices, ...Published: 01 Jul 2020 at 17:55hrs | 1691 | by Staff reporter
Key concerns on the Forex auction system
The Reserve bank of Zimbabwe (RBZ) is cautiously yielding to free market demands for the complete liberalization of the foreign exchange market and scrapping of various consumption subsidies that were...Published: 30 Jun 2020 at 08:15hrs | 5041 | by Victor Bhoroma
Police in corruption storm
SOME members of the police in Mvuma are in the eye of a storm following reports that they are demanding protection fees from illegal vendors, pirate taxis and foreign currency dealers operating in the...Published: 28 Jun 2020 at 08:14hrs | 600 | by Staff reporter
Zimbabwe economy run by master criminals fleecing the poor
Ordinary Zimbabweans have suffered for years as a result of currency manipulation and corruption by the elites who have siphoned US dollars away into their overseas bank accounts. Now, a recent ruling...Published: 28 Jun 2020 at 08:11hrs | 1514 | by Thandekile Moyo
Sticky-fingered conductors strike Zupco, again
PILFERING staffers have been the proverbial monkey on Zimbabwe United Passenger Company (Zupco)'s case ever since it was brought back to life.Last year, the mass public transport operator jett...Published: 28 Jun 2020 at 07:15hrs | 994 | by Staff reporter
Open letter to the Minister of Local Govt and Rural and Urban Development Hon. July Moyo
As concerned citizens, it is our belief that Local Government refers to the establishment of participatory and democratically elected structures that can identify with the needs of people at grassroot...Published: 27 Jun 2020 at 10:47hrs | 1844 | by Concerned citizens of Bubi Rural District
Police stations get POS machines
Almost all police stations now have functioning "swipe" machines for payment of admission of guilt fines, removing the need for cash payments and associated potential corruption. Unlike previo...Published: 27 Jun 2020 at 08:07hrs | 362 | by Staff reporter
Zimbabwe fuel price hike raises ethanol eyebrows
ZIMBABWE'S fuel is the most expensive in the region following this week's price hike, amid grave concern over the cost component of locally-produced ethanol on the overall petrol price. Ethanol is sup...Published: 26 Jun 2020 at 07:55hrs | 2907 | by Staff reporter
Pessimism grips forex platform
Business wants more "transparency more than promises" on the foreign currency auction system for the platform to succeed as the parallel market continued unabated yesterday, a day after monetary autho...Published: 25 Jun 2020 at 16:36hrs | 2206 | by Staff reporter
Corruption storm brewing at Zimra
A corruption time bomb is ticking at the Zimabbawe Revenue Authority after anonymous car dealers filed a complaint with the Zimbabwe Anti-Corruption Commission alleging that ZIMRA officers are d...Published: 25 Jun 2020 at 09:43hrs | 5499 | by Mandla Ndlovu
CZR tells retailers to accept bond coins and notes
THE Confederation of Zimbabwe Retailers (CZR) has called on its members to continue accepting bond notes and coins as they remain legal tender in line with country's monetary policy. The Reser...Published: 24 Jun 2020 at 07:09hrs | 373 | by Staff reporter
Forex exchange auction trading system off to a good start
The foreign exchange auction trading system has made a good start when it kicked-off in Harare today (June 23, 2020), without any great difficulty.On its first day, bids worth about US$11,4 mi...Published: 23 Jun 2020 at 19:33hrs | 3025 | by Nathan Gurira
Informal traders reject $2, $5 notes
INFORMAL traders are rejecting $2 and $5 bond notes as well as coins, money which the Reserve Bank of Zimbabwe (RBZ) has said is still legal tender. Police yesterday also warned those rejectin...Published: 23 Jun 2020 at 07:52hrs | 1183 | by Staff reporter
RBZ launches foreign exchange auction today
The Reserve Bank of Zimbabwe (RBZ)today replaces the interbank market with weekly foreign exchange auctions to determine the Zimbabwe dollar exchange rate with those in industry and commerce cautiousl...Published: 23 Jun 2020 at 07:47hrs | 1641 | by Staff reporter
Possible fuel price hike triggers long queues
WITH anticipation of a hike in fuel prices by the Government to avert artificial shortages; fuel queues in the capital are long as motorists try to get the underpriced commodity before the hike....Published: 20 Jun 2020 at 19:45hrs | 1182 | by Staff reporter
'Cash-rich' gold buyer invades Zimbabwe?
Confusion is reigning supreme in the gold sector over the existence of a licenced gold buyer who is reportedly paying more than the official price set by the country's repository authority, Fidelity P...Published: 19 Jun 2020 at 08:30hrs | 11594 | by Staff reporter
Shadow banks posing another danger for Zimbabwe's economy
More than ever before, it is becoming important for Zimbabwe to strengthen its legislation and regulations to guard against situations whereby shadow banks could plunge the country's economy into the ...Published: 17 Jun 2020 at 21:22hrs | 3068 | by Dr Tim Rainhard
RBZ seeks prosecution of social media forex dealers
THE Reserve Bank of Zimbabwe through its Financial Intelligence Unit (FIU) has engaged law enforcement agents to prosecute illegal forex traders posting foreign currency exchange rates on social media...Published: 16 Jun 2020 at 18:25hrs | 1303 | by Staff reporter
Mthuli Ncube tells Zanu-PF that he's no magician
FINANCE minister Mthuli Ncube on Wednesday told glum-faced Zanu-PF heavyweights in a closed-door politburo meeting that the economy is in terrible shape and he has no magic wand to rescue it overnight...Published: 12 Jun 2020 at 08:01hrs | 7478 | by Staff reporter
Bogus gold buyers nabbed at roadblock
Four bogus gold buyers were arraigned before Guruve resident magistrate Shingirai Mutiro yesterday for defrauding gold dealers.The four...Published: 11 Jun 2020 at 12:39hrs | 2121 | by Simbarashe Sithole
'Plot afoot to oust Mnangagwa'
Home Affairs minister Kazembe Kazembe flanked by service chiefs at a Press briefing in Harare last nightHOME Affairs minister Kazembe Kazembe last night accused rivals in government, military ...Published: 11 Jun 2020 at 07:52hrs | 5889 | by Staff reporter
Mthuli Ncube taken to task over cash crisis
Members of Parliament (MPs) have taken Finance Minister, Mthuli Ncube, to task over Zimbabwe's persistent cash crisis, with legislators demanding to know what was being done to address the situation....Published: 10 Jun 2020 at 16:48hrs | 3414 | by Staff reporter
Petrol blending back to E20
The mandatory percentage of ethanol blending has been restored to 20 percent after sitting at 10 percent after ethanol production fell below market requirements. Energy and Power Develop...Published: 08 Jun 2020 at 07:09hrs | 1343 | by Staff reporter
RBZ corners forex dealers
THE Reserve Bank of Zimbabwe has cornered illegal money changers and will continue to come up with measures to deal with the rampant illicit trade.Over the past weeks, the Central Bank has com...Published: 07 Jun 2020 at 08:19hrs | 3046 | by Staff reporter
Govt allays fuel shortage fears
Officials in the Ministry of Energy and Power Development are leaning on the Reserve Bank of Zimbabwe (RBZ) to release letters of credit (LCs) that are needed to release fuel for oil traders.I...Published: 07 Jun 2020 at 08:16hrs | 751 | by Staff reporter
Smart card system to track fuel supply chain
ZIMBABWE will soon have a smart card system to track fuel through the entire supply chain to the retail consumers. The Reserve Bank of Zimbabwe (RBZ) is working with the Harare Institute of Technology...Published: 06 Jun 2020 at 07:40hrs | 323 | by Staff reporter
97 border jumpers arrested
NINETY-SEVEN people have been arrested for skipping borders and smuggling goods from neighbouring countries.In a statement, national police spokesperson Assistant Commissioner Paul Nyathi said...Published: 05 Jun 2020 at 19:06hrs | 1218 | by Staff reporter
Price of fuel increases
THE price of fuel has been marginally increased with effect from today. Zimbabwe Energy Regulatory Authority (Zera) announced the new prices yesterday in line with Statutory Instrument 270 of 2019. ...Published: 05 Jun 2020 at 08:27hrs | 1114 | by Staff reporter
RBZ restricts bank account transactions
Bank customers are now limited to two internal transactions a day, that is transactions to account holders with the same bank, as the Reserve Bank of Zimbabwe (RBZ) steps up efforts to starve the fore...Published: 05 Jun 2020 at 08:23hrs | 696 | by Staff reporter
RBZ to tighten noose on OneMoney
Reserve Bank of Zimbabwe governor John Mangudya's ambush raids on illegal forex trade faces a stern test as the government-owned mobile payment platform, OneMoney, operates untamed.The develop...Published: 04 Jun 2020 at 17:56hrs | 4909 | by Staff reporter
1 300 Zimbabweans arrested in 24 hours
THE number of people arrested for flouting lockdown regulations countrywide since March 31 has risen to 52 041, with a modest spike of 1 312 arrests on Tuesday when enforcement was tightened. ...Published: 04 Jun 2020 at 17:01hrs | 411 | by Staff reporter
Security forces deployed to quarantine centres
THE Inter-Ministerial Taskforce on Covid-19 headed by Vice-President Kembo Mohadi is now mandated to update the country on the regular fortnightly reviews of the indefinite national lockdown announced...Published: 31 May 2020 at 23:40hrs | 350 | by Staff reporter
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