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Mthuli Ncube mops up $190m local liquidity to support Zimdollar
Zimbabwe is looking to mop up as much as ZWL1.2 billion from the local market by the end of this week through direct transfer of balances from local finance institutions to the central bank while also...Published: 6 hrs ago | 2045 | by Staff reporter
Zimbabwe could be plunged into total darkness
Zimbabwe runs the risk of being plunged into darkness if there are no collaborative efforts to address power shortages in the country, energy minister Fortune Chasi has said.Speaking at, Parli...Published: 6 hrs ago | 2658 | by Staff Reporter
Socio-economic Implications of banning the US Dollar
On 24 June 2019, the government abolished the 10-year-old multi-currency regime in the country making the Zimbabwe dollar the sole legal tender. The Zimbabwe Coalition on Debt and Development (ZIMCODD...Published: 10 hrs ago | 1322 | by ZIMCODD
Scrapping of multi-currency regime: The implications
ON Monday, the government announced major changes in the monetary policy of Zimbabwe, highlighted by the ending of a 10-year multi-currency system.Further measures announced include the intend...Published: 18 hrs ago | 2721 | by Respect Gwenzi
RBZ hikes interest rate to 50%
THE Reserve Bank of Zimbabwe (RBZ) has increased the interest rate on its overnight window to 50 percent per annum from 15 percent in a bid to tame inflationary pressures alongside other measures mean...Published: 18 hrs ago | 1129 | by Staff reporter
Reserve Bank scraps US$10 000 daily trading limit for bureaux de change
THE Reserve Bank of Zimbabwe (RBZ) has scrapped the US$10 000 daily trading limit for bureaux de change and the 2,5 percent maximum profit margin for banks, in a bid to make the interbank forex market...Published: 18 hrs ago | 925 | by Staff reporter
Zimbabwe recent economic developments
The central government deficit stabilized starting in September 2018, and turned into a surplus in the first 4 months of 2019...Published: 25 Jun 2019 at 22:22hrs | 3619 | by Staff reporter
Zimbabwe's return to own currency is a brave move
When the government introduced bond notes it was very clear that the pretence currency was bad money that was going to wipe away good money. This came very true in a fast manner. Within a few months, ...Published: 25 Jun 2019 at 19:38hrs | 6216 | by Dr Masimba Mavaza
Mthuli Ncube's stroke of genius
Industrialists, labour and economists have thrown their weight behind currency reforms, which culminated in the scrapping of the multi-currency system on local transactions, saying it was a "great mov...Published: 25 Jun 2019 at 07:30hrs | 4392 | by Staff reporter
Mangudya avails US$330m for critical imports
The Reserve Bank of Zimbabwe (RBZ) has put in place letters of credit (LCs) amounting to US$330 million for importation of critical commodities such as fuel, cooking oil and wheat, as part of a raft o...Published: 25 Jun 2019 at 07:20hrs | 1096 | by Staff reporter
RBZ statement on the Interbank Foreign Exchange market
Further to the Statutory Instrument 142 of 2019 issued by the Hon. Minister of Finance and Economic Development Prof Mthuli Ncube on the removal of the multi-currency system in Zimbabwe and replacing ...Published: 24 Jun 2019 at 17:29hrs | 6964 | by RBZ
Mthuli Ncube engages journalists
Finance and Economic Development Minister, Professor Mthuli Ncube has outlined the economic fundamentals which need implementation before the introduction of the country's own currency.The min...Published: 24 Jun 2019 at 11:11hrs | 2644 | by Staff Reporter
Mthuli Ncube interacts with journalists
Finance and Economic Development Minister Mthuli Ncube yesterday held an informal interaction with local and foreign journalists where he spoke on a wide range of issues prevailing in the country's ec...Published: 24 Jun 2019 at 09:30hrs | 715 | by Staff reporter
Mthuli Ncube pays Eskom US$10m in bid to ease Zimbabwe power shortage
Zimbabwe will this week pay US$10m to South Africa's power utility Eskom as part of plans to unlock at least 400MW to ease power shortages in the country.The southern African country, which ac...Published: 24 Jun 2019 at 09:25hrs | 1055 | by Staff reporter
Government to bail out ZESA
The Minister of Finance and Economic Development, Professor Mthuli Ncube has assured the nation of short-term interventions to ease the power crisis that include bailing out the country's power utilit...Published: 22 Jun 2019 at 16:19hrs | 2705 | by Staff Reporter
Principles on new currency in place
Government is working on modalities to introduce a new currency, which will be the sole legal tender for domestic transactions as fundamentals have now been put in place, President Mnangagwa has said....Published: 22 Jun 2019 at 01:15hrs | 1744 | by Staff reporter
Zimbabwe resumes printing passports
Home Affairs deputy minister Mike Madiro has said the government will clear the backlog on passports after settling a debt with foreign company providing consumables for the travel documents. ...Published: 21 Jun 2019 at 09:35hrs | 9933 | by Staff Reporter
Zanu-PF's power obsession in hunger-stricken nation
THE acquisition of a huge assortment of weapons and ammunition at a time the country's economic crisis is deepening is reflective of government's misplaced priorities, as well as President Emmerson Mn...Published: 21 Jun 2019 at 07:49hrs | 987 | by Staff reporter
Introduction of Zimdollar a disaster
A major economic highlight of the week was the confirmation by the President Emmerson Mnangagwa that Zimbabwe will re-introduce a local currency before year-end. It is our view that our country is not...Published: 21 Jun 2019 at 07:48hrs | 4385 | by Dr Chitambara
Chamisa to hire external auditors
The Nelson Chamisa-led MDC is pushing for sweeping changes and restructuring of its internal affairs and financial systems in an effort to endear itself to supporters and attract funding.The p...Published: 21 Jun 2019 at 07:23hrs | 1070 | by Staff reporter
Zupco sued over $30 000 debt
KWEKWE City Council (KCC) has taken the Zimbabwe United Passenger Company (Zupco) to court over a debt of more than RTG$30 000 in unpaid water charges and rates. The council through its ...Published: 21 Jun 2019 at 07:18hrs | 678 | by Staff reporter
Zimbabwe stocks year's supply of ARVs
Zimbabwe has enough anti-retroviral (ARV) drugs that will last the next 12 months after Government secured funding to procure the life-prolonging therapy, Parliament has heard. Health and Child Care M...Published: 21 Jun 2019 at 07:14hrs | 132 | by Staff reporter
US$1,4m debt haunts Msipa's son
THE late former Midlands governor Cephas Msipa's son, Cephas Mandlenkosi Msipa, has been hauled before the High Court by a local coal mining company, NR Barber (Pvt) Ltd, over a US$1,4 million debt ac...Published: 20 Jun 2019 at 08:01hrs | 1018 | by Staff reporter
Zimbabwe shines to glory despite hardships
Zimbabwe has struggled to improve its deteriorating infrastructure in business, education, and healthcare. Zimbabwe's power grid is overstressed, and power failures have been daily occurrences in...Published: 20 Jun 2019 at 07:17hrs | 4604 | by Dr Masimba Mavaza
Air Zimbabwe to restrict foreign operators to Harare
Air Zimbabwe (UM, Harare Int'l) has proposed restricting foreign carriers to Harare Int'l given concerns their use of Victoria Falls and Bulawayo has cannibalised traffic from the Zimbabwean capital, ...Published: 19 Jun 2019 at 17:24hrs | 5635 | by Staff reporter
'Fatcats choke Zesa'
Energy and Power Development minister Fortune Chasi yesterday said power utility Zesa was struggling to service its external debt and increase power importation to alleviate the current electricity cr...Published: 19 Jun 2019 at 07:43hrs | 3073 | by Staff reporter
Cabinet tackles load shedding
Government has stepped up efforts to address electricity challenges obtaining in the country, but signalled that collective efforts are required for a long-lasting solution. Addressing a press...Published: 19 Jun 2019 at 07:36hrs | 1691 | by Staff reporter
Peter Moyo fired by Trevor Manuel chaired Old Mutual
The board of Old Mutual on Tuesday announced that it had fired its suspended chief executive Peter Moyo due to "a material breakdown in trust and confidence"."Moyo's actions since the suspensi...Published: 18 Jun 2019 at 17:26hrs | 1978 | by City Press
Zimbabwe's currency reforms dilemma
The Zimbabwean government has indicated that the country will be launching a new currency before the end of 2019. The announcement has caused some confusion amongst businesses and the transacting publ...Published: 17 Jun 2019 at 18:01hrs | 2184 | by Victor Bhoroma
Hope emerges in Zimbabwe
Nearly two decades after the European Union imposed sanctions on Zimbabwe, a thaw in relations is palpable, following praise by the EU ambassador and head of the EU-Zimbabwe Delegation Timo Olkkonen....Published: 17 Jun 2019 at 08:29hrs | 7283 | by EU Today
Mthuli Ncube's speech to AfDB boards of governors - Fulltext
Speech by the minister of finance and economic development, Hon. Prof. Mthuli Ncube during the 2019 annual meetings of the boards of governors of the African Development Bank Group: Malabo, Republic o...Published: 16 Jun 2019 at 20:03hrs | 994 | by Mthuli NCube
'MDC A will give dialogue a chance' - to what end if chance of free 2023 elections is zero
The people of Zimbabwe risked life and limb to elect Morgan Tsvangirai, Tendai Biti, Nelson Chamisa, David Coltart and the other MDC A leaders into power on the promise the party will deliver the demo...Published: 16 Jun 2019 at 19:11hrs | 542 | by Patrick Guramatunhu
Ingwebu's remarkable turnaround
BULAWAYO Municipal Commercial Undertaking (BMCU)'s beverages manufacturing unit, Ingwebu Breweries, which has close to a decade been reeling under massive losses, has had a remarkable turnaround....Published: 16 Jun 2019 at 09:38hrs | 615 | by Sytaff reporter
Zesa to add 120MW to grid
The Zimbabwe Electricity Supply Authority plans to expeditiously refurbish Hwange Power Station's Unit 3 to augment local power generation by 120MW, while negotiations with regional suppliers fo...Published: 16 Jun 2019 at 09:35hrs | 1529 | by Staff reporter
'MDC A will give dialogue a chance' - to what end if chance of free 2023 elections is zero
The people of Zimbabwe risked life and limb to elect Morgan Tsvangirai, Tendai Biti, Nelson Chamisa, David Coltart and the other MDC A leaders into power on the promise the party will deliver the demo...Published: 15 Jun 2019 at 09:13hrs | 607 | by Patrick Guramatunhu
Zifa blocks bank account freeze
THE Zimbabwe Football Association (Zifa) has successfully thwarted the bid by a local hospitality firm, Daisy Guest Lodge (Pvt) Ltd, to freeze its bank account over a payment dispute.According...Published: 15 Jun 2019 at 08:59hrs | 159 | by Staff reporter
Zanu-PF MP offers ZWL$50 child maintenance
Chirumanzu Zibagwe MP, Prosper Machando (Zanu-PF) stunned the court early this week when he offered to pay ZWL$50 for the upkeep of a four-year-old child he sired with a Mvuma woman.Clara Taru...Published: 15 Jun 2019 at 08:57hrs | 295 | by Staff reporter
'Sanctions alone not the cause of Zimbabwe economic woes'
Zimbabwe Coalition on Debt and Development executive director Janet Zhou has said while Western sanctions imposed on the country were negatively affecting the economy, it was trite to note that gross ...Published: 15 Jun 2019 at 08:55hrs | 212 | by Staff reporter
Mnangagwa makes radio cameo
The Herald Herald Reporters President Mnangagwa yesterday made good of his billing as a "listening President" when he fielded a wide range of questions from Zimbabweans on his maiden live radio progra...Published: 15 Jun 2019 at 08:49hrs | 459 | by Staff reporter
Mnangagwa's govt re-ignites currency debate
PRESIDENT Emmerson Mnangagwa's remarks over the weekend that Zimbabwe would have a fully-fledged local currency before the end of the year, ending the multi-currency regime enacted in 2009, effectivel...Published: 14 Jun 2019 at 08:25hrs | 2093 | by Brett Chulu
New currency unlikely to perform miracles for Zimbabwe
GOVERNMENT'S plans to unveil a new currency by year-end without addressing macro-economic fundamentals could be catastrophic, while the proposed local unit risks suffering the same fate as the defunct...Published: 14 Jun 2019 at 08:21hrs | 1139 | by Staff reporter
Confusion reigns over Chinamasa's Air Zimbabwe appointment
Confusion is reigning supreme in legal circles following the alleged irregular appointment of former Finance minister Patrick Chinamasa as board chairperson of struggling Air Zimbabwe by President Emm...Published: 13 Jun 2019 at 07:30hrs | 1160 | by Staff reporter
Extraordinary measure for extraordinary: A case of Zimbabwe's austerity measures
In the Bible when Jacob was faced with a situation he was supposed to meet Esau his brother he was so afraid knowing that he had subtly stolen the latter's blessing. During the night, Jacob wrestled a...Published: 12 Jun 2019 at 15:34hrs | 807 | by Elijah Chihota
Another blow for Bulawayo
BULAWAYO textile manufacturing firm, National Blankets (Pvt) Limited, has been liquidated following years of poor performance and failure to find a good investment suitor in yet another blow to the ci...Published: 12 Jun 2019 at 08:59hrs | 3032 | by Staff reporter
AfDB boost for Mthuli Ncube
FINANCE and Economic Development Minister Professor Mthuli Ncube has said the African Development Bank (AfDB) board has endorsed Zimbabwe's reform agenda under the Transitional Stabilisation Programme...Published: 12 Jun 2019 at 07:00hrs | 5662 | by Staff reporter
Mthuli Ncube on course to clear Zimbabwe's AFDB debt
ZIMBABWE is on course to clear its US$605 million debt to the African Development Bank (AfDB), which will allow the country to start accessing funds from the bank beginning early next year, the Minist...Published: 12 Jun 2019 at 06:52hrs | 437 | by Staff reporter
How Chamisa shredded MDC rules to assume power
When Nelson Chamisa seized control of the MDC from Dr Thokozani Khupe in February last year while his predecessor, Morgan Tsvangirai's body was still lying in a South African funeral parlour, Tsvangir...Published: 12 Jun 2019 at 06:50hrs | 485 | by Nobleman Runyanga
Air Zimbabwe to auction old airplanes
The national airline has written to treasury to grant them permission to auction some of its old airplanes so that they can at least salvage something from the fleet which is lying idle.The US...Published: 11 Jun 2019 at 17:46hrs | 963 | by Staff reporter
A case for subsidies in the mining sector
Zimbabwe racked in US$3.2 billion from mineral exports in 2018, a figure which represents 76% of the country's official total export earnings. This year the government has set the target at US$4.2 bil...Published: 11 Jun 2019 at 09:35hrs | 696 | by Victor Bhoroma
Chinamasa appointment to Air Zimbabwe board 'dubious'
President Emmerson Mnangagwa has named former finance minister Patrick Chinamasa as the new chairman of the Air Zimbabwe board – but the validity of the appointment was immediately thrown into quest...Published: 11 Jun 2019 at 07:44hrs | 2391 | by ZimLive
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