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Mnangagwa's adviser says ZiG is 'doomed', warns RBZ Governor
Local economist and adviser to President Emmerson Mnangagwa, Eddie Cross, has issued a stark warning to Reserve Bank of Zimbabwe (RBZ) Governor John Mushayavanhu, cautioning that the country's new Zim...Published: 15 Oct 2024 at 18:10hrs | 5665 | by Staff reporter
Mnangagwa, central bank deliver damp squibs
President Emmerson Mnangagwa's recent State of the Nation Address (Sona) has come under heavy criticism from leading economists, who say it lacked concrete solutions to arrest the nation's spiraling e...Published: 11 Oct 2024 at 18:33hrs | 1320 | by Staff reporter
Dollarisation the worst thing to do for Zimbabwe
The Zimbabwean government has remained resolute in its decision not to revert to full dollarisation, despite growing calls from businesses and citizens who prefer the United States dollar over the rap...Published: 10 Oct 2024 at 13:46hrs | 1673 | by Staff reporter
Zimbabwe retailers make a case for multi-currency continuation
Retailers in Zimbabwe have urged the Reserve Bank of Zimbabwe (RBZ) to extend the multi-currency regime as official policy until 2030, warning that any abrupt move towards full dollarisation could sev...Published: 07 Oct 2024 at 07:52hrs | 1042 | by Staff reporter
Zimbabwe retailers rejects forced de-dollarisation
Zimbabwean retailers have issued a stark warning to the government regarding the potential consequences of de-dollarising the economy, cautioning that such a move could have catastrophic effects. This...Published: 02 Oct 2024 at 07:55hrs | 729 | by Staff reporter
After ditching the dollar, Zimbabwe now rushing for it at a steeper cost
NEARLY five months after changing its currency to arrest inflation, Zimbabwe is back in familiar territory as the new local unit has started losing ground.The problem seems to be based on how ...Published: 26 Aug 2024 at 08:11hrs | 3925 | by Staff reporter
Why Zimbabwe should break free from the US dollar's grip
Government Up Close"Normalcy is that a country must have its own currency," President Mnangagwa is on record highlighting this fact.Some people have argued that one of the gravest fina...Published: 11 Jul 2024 at 14:10hrs | 61 | by Nick Mangwana
Zimbabweans are distraught by financial trauma
GOOD day, President Emmerson Mnangagwa.Your Excellency, as I see it, Zimbabweans are emotionally drained. They are overwhelmed by the severity of deprivation caused by the collapse of currenci...Published: 22 May 2024 at 09:52hrs | 14 | by Cyprian Muketiwa Ndawana
Zimbabweans told to approach banks for ZiG, USD
The Reserve Bank of Zimbabwe has enough reserves to satisfy the foreign currency requirements of all legitimate businesses and no company needs to go to the black market to pay for imports, RBZ Govern...Published: 12 Apr 2024 at 09:47hrs | | by Staff reporter
Zimbabwe's new ZiG currency strengthens on second day of trading
Zimbabwe's new gold-backed currency the ZiG strengthened a day after its debut, even as it roiled commerce nationwide as banks, retailers and utilities battled to switch to the new unit.It gai...Published: 10 Apr 2024 at 06:05hrs | 5 | by Staff reporter
Zimdollar remains legal tender until month-end
The Zimbabwe dollar remains legal tender for all domestic transactions until April 30, when the Zimbabwe Gold (ZiG) notes and coins will come into circulation, the Reserve Bank of Zimbabwe (RBZ) has s...Published: 10 Apr 2024 at 06:02hrs | 2 | by Staff reporter
ZiG is putting lipstick on a pig, says Biti
The Reserve Bank of Zimbabwe (RBZ) on Friday introduced a new currency to be known as the ZiG, which stands for Zimbabwe Gold.RBZ governor John Mushayavanhu said the ZiG would be structured an...Published: 07 Apr 2024 at 10:31hrs | 19 | by Staff reporter
Mnangagwa's foot in the mouth again
PRESIDENT Emmerson Mnangagwa has an uncanny ability to frequently put his foot in the mouth, sometimes without harm but his recent episode on structured currency has left a trail of economic disaster....Published: 07 Apr 2024 at 10:11hrs | 6 | by Paidamoyo Muzulu
Basics disappear from Zimbabwe shop shelves
ZIMBABWEAN retailers are struggling to restock locally produced goods using the local unit as manufacturers and wholesalers are turning them away in favour of those that pay in the United States dolla...Published: 15 Mar 2024 at 07:19hrs | 12 | by Staff reporter
'Bulawayo 80% forex rates illegal'
GOVERNMENT has said the decision by the Bulawayo City Council to force residents and businesses to pay 80 percent of rates strictly in foreign currency is illegal and ordered the local authority to re...Published: 20 Feb 2024 at 05:04hrs | 1 | by Staff reporter
Bulawayo City Council demands 80% of rates in forex
THE Bulawayo City Council (BCC) has passed a resolution compelling residents and businesses to pay 80 percent of their rates in foreign currency, arguing that service providers were demanding forex....Published: 18 Feb 2024 at 09:13hrs | | by Staff reporter
Zimbabwe govt workers starving
FUNERAL policies and medical aid contributions are gobbling up a huge chunk of civil servants earnings, leaving most of them with little for food, rent, school fees and transport, NewsDay has been inf...Published: 16 Feb 2024 at 05:02hrs | | by Staff reporter
Zimbabwe civil servants push for urgent meeting
THE Zimbabwe Confederation of Public Sector Trade Unions (ZCPSTU) has pleaded with Public Service minister July Moyo to convene an urgent National Joint Negotiating Council (NJNC) meeting to address c...Published: 15 Feb 2024 at 10:07hrs | 2 | by Staff reporter
IMF wants Zimbabwe central bank to dump monetary policies
THE International Monetary Fund (IMF) has advised government to cut the Reserve Bank of Zimbabwe's (RBZ) role in crafting monetary policies to just its core functions, after the local currency depreci...Published: 15 Feb 2024 at 10:07hrs | 2 | by Staff reporter
Withdraw Zimdollar from circulation
GOOD day, President Emmerson Mnangagwa. Your Excellency, it is my conviction that the Zimdollar, all things considered, is a swine. It is the epitome of voodoo economics, based on implausible assumpti...Published: 14 Feb 2024 at 19:25hrs | 1 | by Cyprian Muketiwa Ndawana
Teacher exodus threatens the future of Zimbabwe's education system
KUDZAI Chideme, 42, stepped into the teaching profession after completing her diploma in marketing and failing to secure a job in the private sector. It was 2008. At the time, finding work in public e...Published: 25 Jan 2024 at 04:17hrs | | by Staff reporter
Zimdollar exchange rate bolts
MARKET watchers have predicted a gloomy 2024 outlook amid a galloping exchange rate, steep taxation and an ever tanking economy, NewsDay reported.As usual, this is heavily impacting on ordinar...Published: 08 Jan 2024 at 05:36hrs | 11 | by Staff reporter
Headmasters confront govt over Zimdollar salaries
HEADMASTERS from government schools across Zimbabwe have put their employer on notice to press for United States dollar salaries starting from the forthcoming term.School heads and teachers ar...Published: 03 Jan 2024 at 05:30hrs | 9 | by Staff reporter
Zimbabwe records over 1 million tourists in 9 months
Zimbabwe's tourism industry received over one million tourists between January and September last year, representing a 52 percent growth compared to the same period in 2022, putting the industry on co...Published: 01 Jan 2024 at 08:04hrs | 10 | by Staff reporter
Zimbabwe govt urged to dollarise pensions
THE Zimbabwe National Union of School Heads (Zinush) has pleaded for the dollarisation of pensions as inflation continues to eat away the life savings of educators, condemning many to poverty after ye...Published: 27 Dec 2023 at 07:32hrs | 12 | by Staff reporter
Zimbabwe govt 'sabotaged' de-dollarisation plan, says Biti
Former Finance minister Tendai Biti has said government's forceful nature of its policies to adopt the volatile Zimdollar sabotaged plans to de-dollarise the economy .The local currency has be...Published: 04 Dec 2023 at 04:48hrs | 10 | by Staff reporter
Biti rips into Ncube's 'disastrous' budget
FORMER Finance minister Tendai Biti has described the 2024 budget as a disaster amid concerns that the proposed raft of taxes will deepen Zimbabwe's poverty levels and worsen the economic challenges....Published: 03 Dec 2023 at 17:33hrs | 11 | by Staff reporter
Mnangagwa played a part in the formulation of the 2024 national budget
FINANCE minister Mthuli Ncube yesterday revealed that President Emmerson Mnangagwa played a part in the formulation of the 2024 national budget to be presented in Parliament this afternoon.Ncu...Published: 30 Nov 2023 at 06:57hrs | | by Staff reporter
Zimdollar future hangs in the balance
IT is imperative for every successful and expanding economy in the world to have its own currency and monetary policy. I make that statement because it is important for all Zimbabweans to understand t...Published: 12 Sep 2023 at 06:33hrs | | by Eddie Cross
Zimdollar remains volatile
LOCAL financial service firm Fincent Securities Private Limited (Fincent) says the Zimbabwe dollar has lost significant value since the announcement of the disputed election results.From the e...Published: 10 Sep 2023 at 09:00hrs | | by Staff reporter
Zimdollar firms, exchange premium widens
THE Confederation of Zimbabwe Industries (CZI) said this week the gap between the official and parallel market exchange rates widened to 41% last month as a result of stability in the official forex m...Published: 09 Sep 2023 at 08:51hrs | 2 | by Staff reporter
Zimbabwe targeting Zimdollar return in 5 years
Zimbabwe will continue to put in place measures to entrench the use of the domestic currency because having its own currency forms the basis for sustainable economic growth and development, President ...Published: 06 Sep 2023 at 19:09hrs | 1 | by Staff reporter
Hundreds of white farmers return to Zimbabwe in boost for agriculture
Family after family fled along this dirt road towards Harare as they were evicted from their farms by Zimbabwean war veterans.The road through the country's prime, red-soiled land was a front ...Published: 06 Sep 2023 at 06:39hrs | | by Ben Farmer
Zimbabwe slowing getting back to its feet at 43
IN 1893 my ancestors raised the Union Jack in a place they called Salisbury, in the middle of what is now called southern Africa. That is 130 years ago and for the next 87 years this tiny group of whi...Published: 05 Sep 2023 at 06:19hrs | | by Eddie Cross
Zimbabwe workers scoff at reviewed tax threshold
WORKERS have scoffed at government's latest review of the tax-free threshold to $500 000 effective this month, saying there is nothing to celebrate when the majority are earning below that figure....Published: 11 Aug 2023 at 06:45hrs | 11 | by Staff reporter
Mnangagwa to abandon RBZ's forex auction system?
President Emmerson Mnangagwa has hinted the Dutch forex auction floor system, which is under the control of the Reserve Bank of Zimbabwe, could be scrapped since it has served its purpose.The ...Published: 29 Jul 2023 at 12:46hrs | 5 | by Staff reporter
Zimbabwe govt loses battle on the redollarisation of salaries
THE government has issued a circular allowing public entities to pay salaries and allowances partly in United States dollars, in a development that shows the state is losing the war of redollarisation...Published: 27 Jul 2023 at 20:31hrs | 4 | by Staff reporter
'If Zimdollar is abandoned markets and financial institutions will recover'
As the Zimbabwean dollar continues to battle for its survival under severe pressure from the United States dollar despite its recent recovery rally, John Legat, Imara Asset Management (Zimbabw...Published: 21 Jul 2023 at 07:56hrs | | by Staff reporter
Zimdollar flips to best currency in the world?
The rebound, driven by new rules that require corporate taxes to be settled in the local currency, are seen easing inflation ahead of next month's general elections.In most countries, the curr...Published: 20 Jul 2023 at 17:27hrs | 1 | by Staff reporter
Biti says pharmacy licence cancellation illegal
FORMER finance minister, Tendai Biti, says the suspension and cancellation of trading licences for pharmaceutical companies for flouting foreign exchange regulations is "blatantly illegal, puerile and...Published: 14 Jul 2023 at 07:45hrs | 11 | by Staff reporter
'US dollar appetite cannot be satisfied in Zimbabwe'
WHILE Zimbabwe has enough foreign currency, the country's major challenge is not money supply but liquidity because a small percentage of the population has foreign currency while the generality of ci...Published: 20 Jun 2023 at 06:49hrs | | by Staff reporter
Mnangagwa's cost-of-living nightmare terribly deepens
NINE weeks before Zimbabwe's general elections, President Emmerson Mnangagwa faces a moment of truth as the imploding economy plunges the country into its third hyperinflation in 15 years amid rising ...Published: 18 Jun 2023 at 15:15hrs | | by Staff reporter
Zimbabwe: Chekhov's middle age monks
From a writer, critic, traveller, doctorI am reading selected letters of Anton Chekhov, the Russian writer, critic, traveller and medical doctor.The letters span a big chunk of his lif...Published: 17 Jun 2023 at 08:03hrs | 3 | by @Jamwanda2 On Saturday
Dollarisation key at this juncture
THE instability in the country's macroeconomic environment is a serious cause for concern and solutions should be sought as a matter of urgency.Macroeconomics is a branch of economics that stu...Published: 15 Jun 2023 at 06:49hrs | 1 | by Johannes Marisa
Zimbabweans fear repeat of 2008 inflation as Zimdollar nosedives
Zimbabwean businesses and households are fearing a repeat of the hyperinflation seen more than a decade ago as prices of basic commodities spike after a sharp weakening in the local currency, despite ...Published: 14 Jun 2023 at 18:08hrs | | by Staff reporter
Zimbabwe is heading towards economic armageddon, says America's Steve Hanke
Steve Hanke, a Professor of Applied Economics at The Johns Hopkins University in Baltimore, USA, has predicted a catastrophic downfall of the Zimbabwean economy describing its trajectory as "heading t...Published: 13 Jun 2023 at 14:29hrs | 1 | by Staff reporter
Zanu-PF's worst enemy
Zanu-PF parliamentary candidates and top officials have expressed concern that the country's haemorrhaging economy and currency crisis could cost the ruling party some seats in the upcoming general el...Published: 10 Jun 2023 at 17:50hrs | | by Staff reporter
'Shut down RBZ's irrelevant forex auction system'
ECONOMIC analysts this week said the central bank must close the foreign exchange auction system, saying it was no longer serving its purpose.The Reserve Bank of Zimbabwe (RBZ) last month limi...Published: 09 Jun 2023 at 06:33hrs | 4 | by Staff reporter
Mangudya rules out dollarisation
RESERVE Bank of Zimbabwe (RBZ) governor John Mangudya yesterday claimed that past experiences, rather than basic economic issues, were to blame for the country's exchange rate volatility, as he ruled ...Published: 02 Jun 2023 at 06:46hrs | 1 | by Staff reporter
Mnangagwa threatens to legislate against foreign currency use
PRESIDENT Emmerson Mnangagwa has, in a yet-to-be-aired interview, declared Zimbabwe will continue using its waning currency despite it fast-losing value.In snippets of the interview shared by ...Published: 02 Jun 2023 at 06:43hrs | 1 | by Staff reporter
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