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Extra US$26m splashed on Trabablas raises stink
Finance Minister Mthuli Ncube was grilled by legislators over concerns of excessive expenditure on the Trabablas Interchange project in Harare, with questions raised about the total cost and sources o...Published: 13 Jul 2025 at 11:13hrs | 41 | by Staff reporter
Zimbabwe govt to settle parastatal debt
The Ministry of Finance, Economic Development and Investment Promotion says it is intensifying efforts to settle mounting debts owed to state-owned enterprises (SOEs), including telecoms giant T...Published: 06 Jul 2025 at 19:47hrs | 1608 | by Staff reporter
Zimbabwe govt under fire over TBs mismanagement
The Zimbabwean government is facing renewed criticism over its handling of Treasury Bills (TBs), amid allegations of corruption, regulatory manipulation, and financial mismanagement that have raised a...Published: 01 Jul 2025 at 08:16hrs | 502 | by Staff reporter
Zesa rebundling begins
Mutapa Investment Fund (MIF) has initiated the process of rebundling ZESA Holdings, aiming to streamline operations, enhance efficiency, and reduce costs within Zimbabwe's struggling electricity secto...Published: 29 Jun 2025 at 11:21hrs | 7447 | by Staff reporter
Zimbabwe's businesses sound alarm over volatile ZiG
Zimbabwe's business leaders have expressed deep concern over the persistent volatility of the Zimbabwe Gold (ZiG) currency, warning that ongoing instability is crippling industrial growth and eroding ...Published: 26 Jun 2025 at 11:21hrs | 1073 | by Staff reporter
Zimbabwe asks South Africa to back G-20 debt overhaul
Zimbabwe has asked South Africa to help garner support for its debt to be revamped under the Group of 20's Common Framework, a step that could restore its access to international capital markets for t...Published: 19 Jun 2025 at 07:17hrs | 221 | by Staff reporter
Zimbabwe rebuilds correspondent banking ties
The Bankers Association of Zimbabwe (BAZ) has confirmed that some regional and niche international financial institutions have begun cautiously re-engaging with Zimbabwean banks, following the lifting...Published: 19 Jun 2025 at 07:10hrs | 171 | by Staff reporter
Zimbabwe central bank raises ZWG$5.9 billion via treasury bills
The Reserve Bank of Zimbabwe (RBZ) has raised ZWG$5.9 billion through Treasury Bill (TB) issuances and private placements in 2024, as the government intensifies its domestic borrowing to fund operatio...Published: 12 Jun 2025 at 19:00hrs | 192 | by Staff reporter
Afreximbank exposes US$2,4 billion hole in Zimbabwe external debt
The African Export-Import Bank (Afreximbank) has revealed a significant US$2.4 billion discrepancy in Zimbabwe's official external debt data, raising fresh concerns over the credibility of the country...Published: 30 May 2025 at 12:09hrs | 215 | by Staff reporter
Treasury launches last-ditch push to stabilise Zimbabwe economy
Zimbabwe's Treasury has embarked on a last-ditch effort to stabilise the country's fragile economy, amid growing fears that policy inconsistency, inflation, and currency volatility could derail indust...Published: 22 May 2025 at 11:33hrs | 619 | by Staff reporter
Zimbabwe, IMF talks underway
Zimbabwe has entered into preliminary discussions with the International Monetary Fund (IMF) for a new Staff-Monitored Programme (SMP), marking a significant step toward restoring the country's econom...Published: 18 May 2025 at 11:51hrs | 166 | by Staff reporter
George Guvamatanga gave company 'illegal' bank guarantee on $20 million loan
Treasury secretary George Guvamatanga has been accused of providing an "illegal and unconstitutional" bank guarantee for a US$20 million loan to a seed company linked to command agriculture corruption...Published: 17 Apr 2025 at 20:32hrs | 6602 | by Staff reporter
Zimra's digital transformation boosts taxpayer engagement and compliance
The Zimbabwe Revenue Authority (Zimra)'s digital transformation is revolutionizing the country's tax landscape, with new registrations on the recently introduced Tax and Revenue Management System (TaR...Published: 03 Apr 2025 at 08:08hrs | 85 | by Staff reported
Zimbabwe fails to pay white farmers who had land expropriated
White commercial growers in Zimbabwe said that the government has failed to pay part of $331 million in compensation to farmers for expropriating their land but reimbursed others who weren't part of t...Published: 17 Dec 2024 at 10:08hrs | 574 | by Staff reporter
Bulawayo City Council cuts water supplies to schools
The Bulawayo City Council (BCC) has intensified its debt recovery efforts, cutting off water supplies to 59 schools in a bid to recover outstanding payments. This bold move comes as the local authorit...Published: 15 Dec 2024 at 09:14hrs | 493 | by Staff reporter
Zimbabwe's GDP takes US$12bn knock
Zimbabwe's gross domestic product (GDP) has sharply fallen to US$35 billion in November, a staggering 25% decline from US$47 billion in April. The sharp contraction highlights the dire economic challe...Published: 14 Dec 2024 at 10:35hrs | 197 | by Staff reporter
Zimbabwe juggles US$1bn TBs to avert crisis
President Emmerson Mnangagwa's government is restructuring repayment terms for Treasury Bonds (TBs) as it grapples with escalating debt obligations and the looming threat of default. With nearly US$74...Published: 06 Dec 2024 at 18:06hrs | 302 | by Staff reporter
Govt happy with arrears clearance progress
The Zimbabwean Government has expressed optimism over the progress and milestones achieved in reforms under the arrears clearance and debt resolution process. During a meeting with Sector Working Grou...Published: 18 Oct 2024 at 08:32hrs | 74 | by Staff reporter
Zimbabwe scores milestones on arrears clearance process
The Government of Zimbabwe has received commendations for significant progress in the implementation of reforms under the Arrears Clearance and Debt Resolution process, a vital step towards transformi...Published: 17 Oct 2024 at 08:57hrs | 198 | by Staff reporter
Zimbabwe hires Rothschild advisers over $21 Billion defaulted debt pile
Zimbabwe's government has hired financial and legal advisers to help it navigate potential talks with international creditors over the $21 billion it owes, according to people familiar with the matter...Published: 10 Oct 2024 at 12:22hrs | 552 | by Staff reporter
ZiG uncertainties to frustrate GDP forecasts
Zimbabwe's economic growth prospects are facing serious challenges due to liquidity shortages and a severe drought, according to leading advisory firms and economists. In a recent mid-term bud...Published: 03 Aug 2024 at 12:57hrs | 201 | by Staff reporter
Zimbabwe ranked 30th in budget survey
Zimbabwe's global position on the Open Budget Survey (OBS) has improved, with the country now ranked 30th out of 125 countries. The OBS, conducted by the International Budget Partnership (IBP), measur...Published: 03 Aug 2024 at 12:55hrs | 136 | by Staff reporter
NetOne's going concern status at risk
NetOne Private Limited, a telecommunications company in Zimbabwe, has been identified as technically insolvent and at risk of being unable to sustain its operations, according to a recent report. Rele...Published: 17 Jul 2024 at 06:51hrs | 635 | by Staff reporter
IMF says Zimbabwe's economy continues to show resilience
In light of new policy developments, an International Monetary Fund (IMF) staff team led by Mr. Wojciech Maliszewski conducted a second mission to Harare during June 18-27, 2024, to conclude the 2024 ...Published: 28 Jun 2024 at 13:01hrs | 5 | by Staff reporter
BCC writes off 864 bills
The Bulawayo City Council (BCC) has written off bills for over 800 properties, deeming them irrecoverable due to the high cost of recovery relative to the amounts owed. The total amount written off is...Published: 16 Jun 2024 at 09:10hrs | 1 | by Staff reporter
Residents risk losing properties over unpaid bills
The Bulawayo City Council has warned that thousands of residents may lose their properties if they default on paying their bills.Over 2,000 households have already had their water supplies dis...Published: 21 May 2024 at 08:17hrs | 6 | by Staff reporter
1,300 white farmers seek payouts from Zimbabwe govt
About 1,300 White Zimbabwean commercial farmers, whose land was seized in the early 2000s, have signed up to receive compensation and those who qualify will be paid in 10-year treasury bills, a govern...Published: 18 May 2024 at 21:34hrs | 5 | by Staff reporter
Uneca tells Zimbabwe to work on debt
THE United Nations Economic Commission for Africa (Uneca) deputy executive secretary programme Support Antonio Pedro says Zimbabwe needs to work on its debt to deal with its economic crises.Cu...Published: 04 Mar 2024 at 04:44hrs | 19 | by Staff reporter
10 new IPPs to generate 271MW for Zimbabwe
ZIMBABWE has licenced 10 more independent power producers (IPPs) to start generating 271MW of electricity in the next 12 to 24 months under the Government project support agreement which now holds clo...Published: 04 Mar 2024 at 04:42hrs | 1 | by Staff reporter
Zimbabwe debt set to balloon
ZIMBABWE is set to finance its 2024 total budget financing gap of ZWL$9,2 trillion through domestic and external borrowing, a development that will further sink the country deep into debt.Acco...Published: 28 Feb 2024 at 06:28hrs | 4 | by Staff reporter
BCC's US$ revenue improves
BULAWAYO City Council (BCC) has revealed that it has collected about 45% of its debts in United States dollars from ratepayers as its credit control policy begins to bear fruit.In an interview...Published: 16 Feb 2024 at 04:58hrs | | by Staff reporter
Mnangagwa ruined Zanu-PF business empire
THE predictable appointment of FBC Holdings chief executive John Mushayavanhu as the incoming Reserve Bank of Zimbabwe (RBZ) governor has completed President Emmerson Mnangagwa's critical post-electio...Published: 12 Dec 2023 at 18:00hrs | 32 | by Staff reporter
Secrecy surrounding resource-backed loans in Zimbabwe
IntroductionTO realize the aspirations of Vision 2030, Zimbabwe needs to invest US$2 billion in infrastructure development in five consecutive years to close the infrastructure asset gap, a hu...Published: 07 Dec 2023 at 05:29hrs | 27 | by Mbongeni Nhliziyo
Mthuli Ncube's budget dilemma
DON'T tell me what you value, show me your budget and I'll tell you what you value:" Joe Biden.Ordinarily, Finance minister Mthuli Ncube should have presented the ZWL$47,8 trillion 2024 nation...Published: 25 Nov 2023 at 07:59hrs | 14 | by Paidamoyo Muzulu
Zimra new tax system effective January 2024
The Zimbabwe Revenue Authority (Zimra) says tax clearance certificates (ITF263s) will be accessible only through the newly introduced Tax and Revenue Management System (TaRMS) to compliant taxpayers e...Published: 15 Nov 2023 at 05:07hrs | 16 | by Staff reporter
IMF implores Zimbabwe to pace up forex reforms
The International Monetary Fund (IMF) has recommended that Zimbabwe expedite its foreign exchange market reforms by introducing more flexibility into the official exchange rate through market-driven p...Published: 27 Oct 2023 at 06:16hrs | | by Staff reporter
Zimbabwe GDP to grow by 4,8%
The International Monetary Fund (IMF) has reported that Zimbabwe's real gross domestic product is expected to grow by approximately 4.8 percent in the current year, driven primarily by robust performa...Published: 26 Oct 2023 at 06:26hrs | 1 | by Staff reporter
UN tells Zimbabwe to make changes to attract FDI
The United Nations (UN) has urged Zimbabwe to implement necessary changes to attract foreign direct investment (FDI) as global foreign assistance diminishes, moving away from quiet diplomacy. This adv...Published: 12 Oct 2023 at 06:41hrs | 2 | by Staff reporter
Mnangagwa to attend Zimbabwe economic conference
President Mnangagwa is set to take center stage at the upcoming Zimbabwe Economic Development Conference (ZEDCON) in Victoria Falls next week.ZEDCON is an annual event that brings together gov...Published: 24 Sep 2023 at 08:53hrs | 1 | by Staff reporter
Zimbabwe's inflation drops to 101.3%
Zimbabwe's annual inflation eased to 101,3 percent in July from 175,8 percent in the prior month as the local unit continued to firm against the United States dollar and riding on tight fiscal and mon...Published: 26 Jul 2023 at 06:38hrs | 2 | by Staff reporter
Zimra surpasses revenue target
The Zimbabwe Revenue Authority (Zimra) collected $1,99 trillion in net revenue last year, 14 percent above the target of $1,60 trillion spurred by milestones registered in the agricultural sector....Published: 24 Jul 2023 at 06:46hrs | 1 | by Staff reporter
BCC considers blacklisting debtors
THE Bulawayo City Council is reportedly considering blacklisting some of its bad debtors as it continues to explore avenues of boosting revenue collection.The move comes as the city's debtors ...Published: 25 Jun 2023 at 09:36hrs | 1 | by Staff reporter
Zimbabwe imposes new charge on foreign payments
All outward payments from Zimbabwe to any foreign country for the next six months will attract a one percent charge up to a maximum of US$50 000 as part of measures gazetted by President Mnangagwa yes...Published: 15 Jun 2023 at 06:48hrs | 1 | by Staff reporter
Zimbabwe needs to manage her debts
DEBT plays an important role in the resource mobilisation strategy of any country.However, the processes of its contraction, sources, structure and its implications on the economy and the live...Published: 03 Jun 2023 at 08:19hrs | 1 | by Zimcodd
Zimbabwe is poor because of IMF
THE International Monetary Fund (IMF)'s programmes have come under fire from civil society, which claims they have lasting repercussions on public service delivery, development, and poverty.Th...Published: 21 May 2023 at 08:12hrs | 1 | by Staff reporter
UN warns Zimbabwe
A recent report by the United States embassy showed that Zimbabwe's human rights situation remains dire, with numerous factors that contributed to a flawed election process in 2018 still in play ahead...Published: 07 Apr 2023 at 09:13hrs | 13 | by Staff reporter
AfDB facilitates 3rd Structured Dialogue Platform meeting in Harare on Zimbabwe Arrears Clearance and Debt Resolution process
HARARE - Zimbabwe moved closer to resolving its debt issues last week as it hosted the third debt and arrears clearance structured dialogue platform meeti...Published: 04 Apr 2023 at 18:18hrs | 17 | by APO
ABSA, Standard Bank agree US$193m funding deal to build new Zimbabwe hospitals
Zimbabwe is to raise US$193 million in offshore lending to implement a 2019 agreement with UK infrastructure company NMS for the construction of hospitals and clinics in the country.ABSA and S...Published: 29 Mar 2023 at 20:43hrs | 2 | by Staff reporter
High Court calls Mthuli Ncube to order over public debt
Finance minister Mthuli Ncube has been ordered to come up with a debt contraction law that compels Treasury to seek parliamentary approval before issuing guarantees and contracting a public debt....Published: 28 Mar 2023 at 06:43hrs | 3 | by Staff reporter
Gweru town clerk challenges suspension
SUSPENDED Gweru City Council (GCC) acting town clerk Mr Vakayi Douglas Chikwekwe is challenging his employer's decision to suspend him, arguing that his suspension letter contradicts what is contained...Published: 07 Mar 2023 at 05:24hrs | 1 | by Staff reporter
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