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Zimbabwe situation needs proper strategic development plan
We lack basic fundamentals to fulfil the benchmark of legitimacy and credibility. We need to correct a lot of things on the ground. We have so much potential, we simply need to pass the legitimacy tes...Published: 18 Feb 2019 at 16:11hrs | 1240 | by Tinashe Eric Muzamhindo
2,4m Zimbabweans food insecure as drought, rising costs bite
The 150% fuel price hike that sparked mass public unrest across Zimbabwe last month sent the cost of living skyrocketing: the price of bread nearly doubled in a week.Worse is likely to come....Published: 18 Feb 2019 at 07:14hrs | 221 | by IRIN
Black market forex rates fairly stable since January
BLACK market foreign currency exchange rates have remained fairly stable for almost two months with dealers attributing the trend to a reduction in demand.A random assessment by NewZimbabwe.co...Published: 18 Feb 2019 at 07:14hrs | 2214 | by newzimbabwe
German Methods can work in Zimbabwe
After World War II, in 1945 Germany was divided into two with the United States, Great Britain, and France occupying the western portion of Germany and the Soviet Union occupying eastern Germany. Its ...Published: 17 Feb 2019 at 23:02hrs | 1767 | by Engineer Jacob Kudzayi Mutisi
Pre-monitory policy statement expectations
Expectations are high as the market awaits the presentation of the first monitory policy statement (MPS) of 2019 by the Reserve Bank of Zimbabwe in the coming days. The bank knows the weight of hyperi...Published: 17 Feb 2019 at 22:58hrs | 1022 | by Victor Bhoroma
Zimbabwe urgently needs own currency
THE drive for Zimbabwe to have its own currency is understandably gain-ing traction, particularly given the aberrations of price increases, multi-tier pricing and foreign currency shortages on the loc...Published: 17 Feb 2019 at 18:44hrs | 4901 | by Edmore Ndudzo
24 bodies retrieved from flooded Zimbabwe gold mine
Rescue workers retrieved 24 bodies and eight survivors Saturday from two flooded gold mines in Zimbabwe where officials fear dozens more illegal miners are still trapped, state television reported....Published: 17 Feb 2019 at 08:38hrs | 4403 | by AFP
Calls for Zimbabwe to join Rand Monetary Union grow
Zimbabwe must seriously look into the possibility of joining the Rand Monetary Union as the central bank mulls introducing a fresh monetary policy tool to alleviate foreign currency shortages, the hea...Published: 15 Feb 2019 at 14:44hrs | 3247 | by Staff reporter
Banks plunge into fresh crisis
THE Reserve Bank of Zimbabwe (RBZ) shot down an urgent request by commercial banks to raise interest rates and transaction charges at a crisis meeting held in Harare last week, arguing the move would ...Published: 15 Feb 2019 at 14:35hrs | 2985 | by Staff reporter
Economists want US dollar floated
Zimbabwean economists wantReserve Bank of Zimbabwe Governor Dr John Mangudya to increase foreign currency retention thresholds for exporters, libelarise the US dollar exchange rate and introduce an in...Published: 15 Feb 2019 at 08:48hrs | 2176 | by Staff reporter
Time is right for alternative money
THE controversy surrounding the introduction of another local currency continues unabated. This time it was the former Finance minister, Tendai Biti, who ignited the current debate when he announced g...Published: 15 Feb 2019 at 08:24hrs | 250 | by Zimwara
Business complicit in Zimbabwe's economic woes
CHIEF executive officers from across the African continent have been meeting in the resort town of Victoria Falls for the last three days in a bid to find lasting solutions to the economic crisis faci...Published: 15 Feb 2019 at 08:23hrs | 252 | by Staff reporter
Zimbabwe property owners charge rentals in forex
PROPERTY owners are now demanding rentals in foreign currency as the local unit continues to rapidly lose value against the US dollar, businessdigest has learnt.The trend of charging goods and...Published: 15 Feb 2019 at 08:21hrs | 458 | by Staff reporter
Ncube to ask USA to lift sanctions - he must say whether elections free? Then slap him with sanctions too!
"Finance minister Mthuli Ncube is expected to travel to Washington next month and engage with US lawmakers to lift the sanctions imposed since 2001. But his trip is likely to be overshadowed by t...Published: 14 Feb 2019 at 09:21hrs | 1745 | by Patrick Guramatunhu
Floating of bond notes not a solution
Floating of the bond notes is not in itself the solution to the challenges currently bedevilling the Zimbabwean economy, but rather proper financial management fundamentals must be put in place as a w...Published: 14 Feb 2019 at 08:58hrs | 3559 | by Staff reporter
Mthuli Ncube shoots down Biti's fear mongering attempt
FORMER Finance minister Tendai Biti yesterday sensationally claimed that government was planning to reintroduce a local currency this week, describing the purported move as "pure undiluted insanity"....Published: 12 Feb 2019 at 07:32hrs | 974 | by Staff reporter
Is Zimbabwe ready for online casinos?
Online gambling is a worldwide phenomenon. It's already hugely popular among many Western nations, including across Europe and - increasingly - in the US. The market is set to be worth around ...Published: 08 Feb 2019 at 18:23hrs | 505 | by Staff Reporter
'Zimbabwe to introduce domestic currency'
Zimbabwe will reintroduce domestic currency only when conditions are ripe and critical economic fundamentals are in place since using the US dollar as an anchor currency is now unsustainable, accordin...Published: 08 Feb 2019 at 09:04hrs | 7046 | by Business weekly
Puppets polluting Harare, Caracas
Before making his transition to our ancestors on November 15, 1998, the revolutionary Pan Africanist organiser Kwame Ture warned Africans everywhere with his rather unique blend of passion and caution...Published: 08 Feb 2019 at 08:38hrs | 374 | by Obi Egbuna Jnr Simunye
How not to win hearts and minds
In a country that is used to turmoil, the month of January will go down as a period when we literally shot ourselves in the foot.The 2017 November coup brought to a close 38 years of dic...Published: 06 Feb 2019 at 08:33hrs | 1685 | by Eddie Cross
Economic stability by June: Cross
Zimbabwe has firm macro-economic fundamentals, notwithstanding current challenges, and the introduction of a new currency will further enhance stability, according to economist Mr Eddie Cross. ...Published: 06 Feb 2019 at 07:59hrs | 928 | by Staff reporter
Government cautious as fuel supply stabilises
Energy and Power Development Minister Joram Gumbo says Government remains cautiously optimistic that the fuel situation in the country has stabilised on the back of improved availability and shorter q...Published: 04 Feb 2019 at 22:28hrs | 537 | by Staff reporter
'I will make Zimbabwe efficient, we will fly!' boasted Minister Ncube - yes, Mr Know-It-All
I was once in the recruiting of technicians. In walked one of the interviewee, Max, smartly dressed from head to toe. He spoke with an American accent and pronounced every word perfectly; my High Scho...Published: 04 Feb 2019 at 21:35hrs | 1835 | by Patrick Guramatunhu
Is RBZ shifting position?
THE Reserve Bank of Zimbabwe (RBZ) has given its clearest hint to date that the country is slowly re-dollarising after upgrading the Real Time Gross Settlement (RTGS) platform to include the United St...Published: 04 Feb 2019 at 15:09hrs | 10075 | by Pauline Hurungudo
Money is not the only solution to Zimbabwe's problems
Money has become central to how our authorities are conceptualising and defining solutions to our problems. This is why there is so much effort by Finance minister Mthuli Ncube to secure credit lines ...Published: 04 Feb 2019 at 08:07hrs | 917 | by Tapiwa Gomo
Zimbabwe Economy: Time for efficiency
The flamboyant Victorian British Prime Minister, Benjamin Disraeli, once noted that; "There can be economy, only where there is efficiency".Zimbabwe's economy has been full of inefficiencies f...Published: 04 Feb 2019 at 07:30hrs | 472 | by Hon. Prof. Mthuli Ncube
Trade deficit widens
ZIMBABWE recorded a trade deficit of $2,3 billion in the period between February and December 2018, latest trade data has shown.Figures released by the Zimbabwe National Statistics Agency (Zim...Published: 29 Jan 2019 at 08:39hrs | 733 | by Staff reporter
Introduction of new currency needs strong back facility and increase in production levels
School of thought Introducing our own currency is a good idea but ill-timed and a misplaced and misguided priority. The focus for now should be increase...Published: 28 Jan 2019 at 20:54hrs | 2393 | by Tinashe Eric Muzamhindo
Majority MDC supporters hope Mnangagwa intervention continues; fares dramatically slashed
An ecstatic Zimbabwean passenger Shylot Sibanda screams with joy as he boards a bus from downtown Harare to the township of Budiriro. The fare has been slashed to a third of what he paid last week....Published: 28 Jan 2019 at 10:58hrs | 1267 | by AFP
'Zimbabwe inflation second only to Venezuela '
ZIMBABWE'S inflation rate has hit 290 percent – the second highest in the world after Venezuela (reportedly 80,000 percent at the end of 2018), United States economist and currency expert Steve Hank...Published: 28 Jan 2019 at 10:57hrs | 1098 | by African News Agency
'Govt subsidies for private players not sustainable'
Government has been warned against clandestine price controls being effected through its stranglehold on foreign currency allocation.Economic analysts said there were companies that were being...Published: 27 Jan 2019 at 19:18hrs | 1346 | by Staff reporter
'Float or demonetise bond notes,' says experts
RESERVE Bank of Zimbabwe (RBZ) governor John Mangudya is this week expected to present the monetary policy statement amid calls that he should address the deep-seated currency challenges which are aff...Published: 27 Jan 2019 at 19:18hrs | 9916 | by Staff reporter
Mnangagwa's choreographed plan to carve out his image as a reformer up in smoke
When Emmerson Mnangagwa took over the leadership of Zanu-PF and became the head of state there was a perfectly choreographed plan to carve out his image as a reformer.He would be presented to ...Published: 27 Jan 2019 at 19:15hrs | 2154 | by Staff reporter
Re-introducing local currency, not so fast
THE government recently pledged to re-introduce a local currency to replace the current multi-currency regime within 12 months in its efforts to address a mounting economic crisis.Making the a...Published: 25 Jan 2019 at 14:31hrs | 860 | by Tinashe Kaduwo
Internet shutdown negatively impacts on Zimbabwe businesses
THE internet shutdown by government has had an adverse impact on business operations in various sectors of the economy, businessdigest has learnt.Government last week switched off internet con...Published: 25 Jan 2019 at 14:06hrs | 352 | by Staff reporter
Mthuli Ncube's megaphone economics will not solve Zimbabwe's woes
Finance and Economic Development Minister Mthuli Ncube is in Davos at the World Economic Forum, and as expected he is selling Brand Zimbabwe, projecting that he will bring down inflation from 42% to 1...Published: 25 Jan 2019 at 00:34hrs | 1439 | by Staff reporter
Zimbabwe seeks US$500m credit lines in Davos
FINANCE and Economic Development Minister Professor Mthuli Ncube is set to negotiate for more than $500 million in credit lines with three unnamed private financiers at the ongoing World Economic Foru...Published: 22 Jan 2019 at 23:23hrs | 4381 | by Staff reporter
'Dump bond notes'
Zimbabwe should dump its discredited bond notes and real time gross settlement (RTGS) system and re-introduce the United States dollar as a way of solving the country's fragile currency situation and ...Published: 22 Jan 2019 at 16:08hrs | 2001 | by STaff reporter
Mnangagwa will never change his spots
Tinashe Chidzonga, 31, is one of the many Zimbabweans who took to the streets in November 2017 to celebrate the ouster of former Zimbabwe strongman and President Robert Mugabe.To Chidzonga it ...Published: 22 Jan 2019 at 08:44hrs | 726 | by Fin24
Kombi operators have themselves to blame
The modernisation of the mass public transport system in Zimbabwe through the introduction of the Zimbabwe United Passenger Company (ZUPCO) buses will restore sanity and ameliorate the challenges that...Published: 21 Jan 2019 at 14:13hrs | 11752 | by Tafara Shumba
Zimbabwe industry capacity utilisation seen falling to 30%
CAPACITY utilisation in Zimbabwe's manufacturing industry rose by 3,1 percentage points to 48,2 % in 2018 but there are fears that the sector could contract to as low as 30% if the country's foreign c...Published: 21 Jan 2019 at 08:39hrs | 114 | by Staff reporter
Zimbabwe needs peace to develop: IMF
THE International Monetary Fund (IMF) has called for peace in Zimbabwe urging stakeholders to work on developing and implementing policies that will stabilise the economy and promote sustainable and i...Published: 21 Jan 2019 at 08:26hrs | 213 | by Staff reporter
Mnangagwa faces uphill task to re-engage world
Zimbabwe's chances of re-engaging with some of the world's biggest economies are fast fading away after the latest wave of human rights abuses by government security organs which according to civil so...Published: 20 Jan 2019 at 12:28hrs | 3154 | by Staff reporter
Price hikes fail to end fuel crisis
There is no immediate relief for motorists and transport operators despite government's shocking fuel hikes as long and winding queues continue to stalk several garages which are struggling to stock t...Published: 20 Jan 2019 at 12:27hrs | 3023 | by Staff reporter
'Zimbabwe's economy to grow by 4,2%,' says AfDB
THE African Development Bank (AfDB) projects Zimbabwe's economy to grow by 4,2% this year before rising to 4,4% in 2020 underpinned by growth in the mining and agricultural sectors along with fiscal c...Published: 20 Jan 2019 at 09:27hrs | 238 | by Staff reporter
Zimbabwe annual inflation rate surges to 236%
Renowned United States economist and currency expert Steve Hanke says Zimbabwe's annual inflation rate is at 236 percent, much higher than the official figure of 42,09 percent published by Zimbabwe Na...Published: 19 Jan 2019 at 11:51hrs | 1192 | by Staff reporter
Zimbabwe local currency recipe for disaster
FINANCE minister Mthuli Ncube's recent pronouncements that Zimbabwe will revert to using its own currency, a decade after it abandoned the local dollar in favour of a basket of currencies is not feasi...Published: 19 Jan 2019 at 10:53hrs | 733 | by Staff reporter
'Mnangagwa has no good story to tell in Davos'
President Emmerson Mnangagwa is wasting time and taxpayer dollars doing to the World Economic Forum in Davos because he has no good story to tell, former presidential candidate Nkosana Moyo said on We...Published: 18 Jan 2019 at 13:18hrs | 5165 | by ZimLive
Mnangagwa loses credibility
GOVERNMENT is losing credibility in its fight to resuscitate the economy as evidenced by the three day national shutdown, which started on Monday, an economist has said.Since Monday, the count...Published: 18 Jan 2019 at 12:23hrs | 3664 | by Staff reporter
Zimbabwe's woes deepen
Not having a currency of its own hasn't stopped Zimbabwe from sliding into a currency crisis.A scarcity of foreign exchange has led to long queues for fuel, bread and medicine and sent prices ...Published: 15 Jan 2019 at 12:56hrs | 1340 | by Bloomberg News
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