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RBZ conceals US$1bn fat cat loans
THE Reserve Bank of Zimbabwe (RBZ) has refused to hand over a list of beneficiaries of non-performing loans (NPLs) totalling US$1,13 billion which were inherited by the taxpayer via the Zimbabwe Asset...Published: 4 hrs ago | 794 | by Staff reporter
There's a US$1,13 billion skeleton in the RBZ vault
EARLIER this year, I conducted an investigation into the catastrophic failings of Zimbabwe's governance architecture. For the most part, the probe focussed on the contribution of failed governance to ...Published: 4 hrs ago | 200 | by Brezh Malaba
Mortgages gold to pay loans
PARLIAMENT has accused the Reserve Bank of Zimbabwe (RBZ) of illegally mortgaging the country's future gold sales as security for the central bank's external loans while slamming the apex bank for fai...Published: 4 hrs ago | 132 | by Staff reporter
Mnangagwa to order importers to declare forex sourcing
Zimbabwe will force importers to declare sources of foreign currency and those who fail to prove they obtained the money from banks will forfeit their goods to the state, a government official said on...Published: 4 hrs ago | 112 | by Reuters
Mnangagwa should now engage Prophet Makandiwa to stop this, 'economic rot'
A shortage of foreign currency has put Zimbabwe in a dire economic situation with little means for short-term recovery....Published: 15 hrs ago | 3486 | by Knowledge Hakata
Why Mnangagwa has failed to improve the economic prospects of Zimbabwe?
It is now more than two years since President ED Mnangagwa assumed power with an ostensible mandate from his backers to improve the country's economic fortunes, the nemesis of his predecessor, RG Muga...Published: 21 Nov 2019 at 21:03hrs | 525 | by Martin
Biti slams 'amateurish' accounting
Former finance minister Tendai Biti said the omission of Chinese development assistance in the 2020 budget statement was "amateurish" after China made a strong protest on Tuesday.The Chinese e...Published: 21 Nov 2019 at 04:21hrs | 3056 | by ZimLive
Chiyangwas in court
Former Zimbabwe Football Association (Zifa) president and businessman Philip Chiyangwa's two sons - Edmund and Brian - are facing an $800 000 lawsuit for failing to settle a debt from Getbucks Microfi...Published: 21 Nov 2019 at 03:58hrs | 1793 | by Staff reporter
Zanu PF grand heist, autocracy writ large
IN the aftermath of Finance minister Mthuli Ncube's budget that sounded more like was crafted in some Western world capital and delivered in Harare, many people may have missed the assault on our parl...Published: 20 Nov 2019 at 08:01hrs | 1403 | by Paidamoyo Muzulu
Mnangagwa's govt squanders US$10.6 billion
PRESIDENT Emmerson Mnangagwa's government spent over US$10 billion in unbudgeted public finds, and now wants Parliament to okay the unexplained expenditure, raising the ire of opposition members of Pa...Published: 18 Nov 2019 at 06:38hrs | 1486 | by Staff reporter
Zimbabwe, global de-dollarisation case study - Prof Ncube
Zimbabwe is undergoing a de-dollarisation process that very few countries have successfully implemented and will need time to address the lingering effects of dollarisation, Finance and Economic Devel...Published: 18 Nov 2019 at 06:32hrs | 946 | by Staff reporter
RTGS is legal tender, says High Court
Real Time Gross Settlement (RTGS) is legal tender in the country, the High Court has ruled in a case in which an investment company lost its claim for provisional sentence against Fly Africa exe...Published: 18 Nov 2019 at 06:26hrs | 883 | by Staff reporter
SA Express inaugural flight from Joburg to Bulawayo is today
Airline SA Express said on Wednesday it would commence flights to neighbouring Zimbabwe's second city of Bulawayo from November 18 (today) as it accelerates the restoration of its network.In a...Published: 18 Nov 2019 at 06:25hrs | 1771 | by Staff reporter
RBZ Autonomy and Quasi-Fiscal Activities
The International Monetary Fund (IMF) has warned the Zimbabwean Government that it needs to give autonomy to its central bank if it is to avert the risk of plunging the economy into hyperinflation aft...Published: 17 Nov 2019 at 18:46hrs | 1125 | by Victor Bhoroma
'Public officials should declare assets'
A LOCAL governance expert, Vincent Chakunda, has called for legislative framework that ensures that public officials declare their assets to avoid looting and abuse of public resources.Speakin...Published: 17 Nov 2019 at 18:22hrs | 259 | by Staff reporter
Why Mthuli Ncube will fail
While I wish Finance Minister Mthuli Ncube to succeed, the path he has followed is doomed to fail. I will detail the reasons why below. The situation in which he has placed Zimbabwe's finances is not ...Published: 17 Nov 2019 at 06:04hrs | 2663 | by Ken Mufuka
Passports printing shoots up to 2000 per day
GOVERNMENT has started capacitating the department of the registrar general responsible for printing of identity and travelling documents and citizens need to be a bit patient before things return to ...Published: 17 Nov 2019 at 06:00hrs | 4260 | by newzimbabwe
You have no honour here, Minister Mthuli
Far from the quixotic idealism of city life, the rural setting presents life in its most raw form, including the intimate and inextricable relationship between man and nature.Nowhere is man fo...Published: 17 Nov 2019 at 05:20hrs | 213 | by Bishop Lazi
Tendai Biti dismisses Ncube's budget as 'cocktail of cowardice, falsehoods'
The MDC on Thursday dismissed Mthuli Ncube's 2020 budget statement as a "cocktail of cowardice, deception, delay and delusion."Ncube announced a ZWL$63.6 billion budget which he said also mark...Published: 16 Nov 2019 at 19:19hrs | 2632 | by Staff reporter
Mthuli Ncube misses fiscal reform targets
ECONOMIC reforms and austerity measures being spearheaded by Finance minister Mthuli Ncube under the Transitional Stabilisation Programme (TSP) have gone off the rails after it emerged the central ban...Published: 15 Nov 2019 at 06:20hrs | 352 | by Staff reporter
Air Zimbabwe struggles to fly
Air Zimbabwe is flying one plane, with the other two grounded due to regulatory issues. Air Zimbabwe acting chief executive, Mr Joseph Makonise, yesterday said the airline was expecting to res...Published: 14 Nov 2019 at 05:28hrs | 819 | by Staff reporter
Grace Mugabe attacks Mnangagwa?
The escalating row over a farm in Harare's Pomona area, involving Grace Mugabe and a number of land claimants, has now placed the erratic former first lady in the gun-sights of the ruling Zanu-PF. ...Published: 13 Nov 2019 at 06:53hrs | 14049 | by Staff reporter
Court stops Grace Mugabe farm eviction
Three farmers seeking to evict former president Robert Mugabe's widow from a farm in Mazowe must wait until his estate is registered before pursuing the matter, the Harare High Court ruled on Monday....Published: 12 Nov 2019 at 18:11hrs | 9990 | by ZimLive
ZESA's corruption & incompetence an unwarranted burden on Zimbabweans - need for urgent accountability
As I write this article, we are just seated, or milling around, incapable of engaging in any meaningful productive work. Why? Because there is no electricity - which, we desperately need for our effec...Published: 12 Nov 2019 at 17:58hrs | 1931 | by Tendai Ruben Mbofana
RBZ seeks to raise $300m through TBs
GOVERNMENT is seeking to raise another $300 million through Treasury Bills (TBs) to finance its programmes, a month after issuing a sovereign paper with the same amount.In a statement yesterda...Published: 12 Nov 2019 at 07:22hrs | 183 | by Staff reporter
Makandiwa prophecy appeal: Judgment reserved
A Harare business couple is still pursuing its civil claim against United Family International Church (UFIC) leader Emmanuel Makandiwa and his wife Ruth after it appealed at the Supreme Court yesterda...Published: 12 Nov 2019 at 07:09hrs | 2963 | by Staff reporter
Zimdollar repayment for US$ debt
A Harare man who lent his wife's colleague US100 in 2017 who then failed to pay back on time, will now get back his money in Zimbabwe dollars. Cecresy Kunetsa dragged Maidei Banda to the Harar...Published: 10 Nov 2019 at 22:05hrs | 5740 | by Staff reporter
ZESA issues power disconnection notice
The Zimbabwe Electricity Transmission & Distribution Company (ZETDC) advised all defaulting customers who are on the post-paid system to settle their electricity bills without any further delay to...Published: 10 Nov 2019 at 22:04hrs | 6679 | by Staff reporter
Inflation out of control: Guvamatanga
Finance ministry permanent secretary George Guvamatanga has revealed that the government is not considering removing the 2% tax on mobile transactions despite criticism that it is fuelling inflation....Published: 10 Nov 2019 at 08:46hrs | 907 | by Staff reporter
'Mnangagwa's Zimbabwe scoring own goals'
ZIMBABWE is facing a myriad of challenges, including a huge debt overhang which is a stumbling block to new financing, hyperinflation that has eroded people's disposable incomes, and general economic ...Published: 08 Nov 2019 at 05:18hrs | 670 | by Staff reporter
Sanctions on Zimbabwe - Not as simple as many think
IF one wishes to understand the issue of Western sanctions on Zimbabwe, they first have to stop thinking in binary terms by assuming that the restrictive measures affect only a few people, or that the...Published: 08 Nov 2019 at 05:16hrs | 912 | by Zechariah Mushawatu
Zimbabwe in debt distress
LACK of transparency in public debt management and the failure to comply with legal stipulations are now manifesting in depressed fiscal space and low domestic resource mobilisation, analysts have sai...Published: 08 Nov 2019 at 05:15hrs | 365 | by Staff reporter
Supreme Court relief for cash-strapped ZIFA
A MESSY five-year battle - which sucked in three ZIFA presidents, rumbled in the courts, dragged a leading bank into the drama, resulted in a luxury bus donated by SAFA being attached and had a hand i...Published: 08 Nov 2019 at 05:02hrs | 248 | by Staff reporter
Zesa owes Eskom R322 million
South Africa's Minister of Public Enterprises Pravin Gordhan has said that debt-laden power utility Eskom is owed a combined R632 million by three neighbouring countries for providing electricity. ...Published: 08 Nov 2019 at 04:53hrs | 274 | by Staff reporter
Bulawayo supply dams run dry
Bulawayo City supply dams are running dry, and if the rains do not fall in the next few weeks, the water situation in the city will become dire, mayor Solomon Mguni has warned.Mguni advised re...Published: 07 Nov 2019 at 05:52hrs | 1194 | by Staff reporter
Lupane council to sue defaulters
LUPANE'S Kusile Rural District Council (RDC) has threatened court action against government ministries, businesses and ordinary residents over outstanding debts running into millions of dollars....Published: 07 Nov 2019 at 05:50hrs | 245 | by Staff reporter
Joram Gumbo: Charges wont shed light into the ZimAirways scandal
Joram Gumbo, the former Transport minister, has been arrested for his actions around the Zimbabwe Airways controversy. But it tells a story of President Emmerson Mnangagwa's feeble anti-corruption dri...Published: 06 Nov 2019 at 11:40hrs | 679 | by Staff reporter
Fraud-accused clerk gets bail
A debtors clerk with Autoworld Harare (Pvt) Ltd appeared in court yesterday on allegations of duping his employer of cash amounting to US$48 850 after he misrepresented that he was refunding customers...Published: 06 Nov 2019 at 11:31hrs | 197 | by Staff reporter
#TysonWabantu Movement unpacked
#TysonWabantu Movement was initiated by young Zimbabweans who came together under banner #Tysonwabantu. This was after analyzing the situation in Zimbabwe and concluding that there is a need to ...Published: 05 Nov 2019 at 19:36hrs | 8418 | by Ntokozo Msipha
What happened to Bosso Roller Meal?
ONE of the biggest football clubs in the country, Highlanders partnered with Sunset Marketing launched their own mealie meal brand, Bosso Roller Meal.At the time of launch Highlanders treasure...Published: 04 Nov 2019 at 16:34hrs | 1912 | by Staff reporter
Mthuli Ncube pleads poverty
FINANCE minister Mthuli Ncube has said the fiscus has no capacity to meet the demands by ministries after eight government departments bid for $112 billion in the 2020 national budget.Ncube ye...Published: 04 Nov 2019 at 11:22hrs | 3643 | by Staff reporter
China to fund more projects in Zimbabwe
China says it is considering fresh funding for new projects in Zimbabwe that should help in the economic development of the country, an official has said.China's Deputy Ambassador to Zimbabwe ...Published: 04 Nov 2019 at 06:36hrs | 1252 | by Staff reporter
ZESA announces phase-two load shedding
AS power shortages continue, government has announced power producer Zesa has lost over 200MW after generators at Hwange inexplicably collapsed early Sunday.Energy Minister Fortune Chasi used ...Published: 04 Nov 2019 at 06:05hrs | 2350 | by newzimbabwe
'Corruption biggest economic sanction in Zimbabwe'
A TOP economist has said corruption was the biggest economic sanction obstructing the country's development and urged government to introspect on its commitment to tackling graft.Senior resear...Published: 04 Nov 2019 at 06:02hrs | 374 | by Staff reporter
Air Zimbabwe to receive two Malaysian planes
BELEAGUERED national flag carrier, Air Zimbabwe will soon take delivery of two aircrafts bought under a controversial arrangement that at the time reportedly involved now Minister in the Office of the...Published: 04 Nov 2019 at 05:52hrs | 836 | by newzimbabwe
Zesa disconnections target political bigwigs
ZESA Holdings has said political bigwigs will not be spared as the power utility disconnects electricity to defaulting clients to recover $1,2 billion in unpaid bills. The Zimbabwe Electricity...Published: 04 Nov 2019 at 05:51hrs | 208 | by Staff reporter
Mthuli Ncube dismisses ministries' budget demands
FINANCE Minister Mthuli Ncube has dismissed over $112 billion in total budget 2020 proposals made by State departments for the coming financial year.Ncube told MPs at the just ended pre-budget...Published: 04 Nov 2019 at 05:43hrs | 411 | by newzimbabwe
Sanctions do hurt the economy
The United States ambassador to Zimbabwe Brian Nichols, was unusually hyperactive last week.The diplomat attempted to counter the government's narrative on the detrimental effects of sanctions...Published: 03 Nov 2019 at 06:49hrs | 218 | by Hopewell Mauwa
Zesa gets lifeline
The government has suspended for two years customs and excise duty on spares and equipment imported by the Zimbabwe Electricity Supply Authority (Zesa) in a move that is set to bring relief to the str...Published: 03 Nov 2019 at 06:46hrs | 437 | by Staff reporter
Air Zimbabwe starts billing in forex
NATIONAL airline, Air Zimbabwe has announced that it has started billing foreigners in foreign currency with immediate effect.However, locals, the company said, will continue to be billed in l...Published: 03 Nov 2019 at 06:39hrs | 556 | by Staff reporter
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