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Mangudya warns against forex loans
In a situation where there is little foreign currency in the market despite the banking sector having US$2,5 billion in nostro deposits, Reserve Bank of Zimbabwe governor John Mangudya has warned agai...Published: 12 Mar 2023 at 06:37hrs | 3600 | by Staff Reporter
When all friendship ceases!
Von Hornick's nine principles on National EconomyIn 1684, an Austrian lawyer-turned-civil servant, Philipp Wilhelm von Hornick, published nine principal rules of a National Economy.The...Published: 04 Mar 2023 at 07:57hrs | 107 | by Jamwanda
'Power cuts to wipe out US$4bn'
ROLLING blackouts, which have deepened in the past few months, could cost the economy close to US$5 billion this year, industrialists told the Zimbabwe Independent.They said many companies had...Published: 03 Mar 2023 at 18:23hrs | 584 | by Staff reporter
Zimdollar haunted by trust issues
Zimbabweans across the country continue to lose trust in the local currency due to the rapid loss of value, meaning it cannot serve as the store of value and medium of exchange.According to th...Published: 12 Feb 2023 at 07:20hrs | 52 | by Staff reporter
RBZ takes charge of in-kind mining royalties
THE Reserve Bank of Zimbabwe (RBZ) will assume responsibility for collecting, holding, and managing reserve assets from the 50 percent in-kind mining royalties in line with the latest regulations whil...Published: 26 Jan 2023 at 07:32hrs | 89 | by Staff reporter
Third World Underdevelopment - a forced condition
Underdevelopment in Africa, Latin American and much of Asia is not a condition of being several centuries behind the various kinds of transformations experienced in the capitalist centre but a conditi...Published: 14 Jan 2023 at 08:47hrs | 421 | by Maxwell Teedzai
Zimbabwean Economy expected to curve-in further into 2023
The Economic Intelligence Unit (EIU), a global team of Economists with over 70 years of experience in Economic analysis has predicted a continued fall in Zimbabwe's Economy together with the value of ...Published: 30 Dec 2022 at 17:41hrs | 1720 | by Mzingaye Nxumalo
Mwonzora's party says ZW$2,5 billion Govt funding not enough
OPPOSITION parties have described the ZW$2,5 billion funds allocated to them by treasury under the Political Parties Finance Act as too little to fully capacitate them ahead of the 2023 general electi...Published: 14 Dec 2022 at 06:45hrs | 479 | by Staff reporter
Former ZESA CEO blames low tariffs
FORMER Zimbabwe Electricity Supply Authority (ZESA) chief executive officer, Engineer Josh Chifamba has blamed unfavourable tariffs and delayed sacrifices for plunging the nation into the current elec...Published: 12 Dec 2022 at 18:38hrs | 606 | by Staff reporter
Zimbabwe now one of the fastest growing African economies
ANALYSING Zimbabwe's unconventional economy always proves somewhat cumbersome because it is a country bridled with policy inconsistency, unfavourable operating conditions buoyed by decades of unilater...Published: 02 Dec 2022 at 19:32hrs | 1539 | by Respect Gwenzi
Zimdollar dollar budget will fuel inflation
AFRICA Economic Development Strategies executive director Gift Mugano has warned that the proposed $3,4 trillion 2023 national budget will fuel inflation and deepen the economic crisis in the southern...Published: 08 Nov 2022 at 05:09hrs | 333 | by Staff reporter
Angry caller attacks Zanu-PF's Mugwadi and Masarira on national radio
AN angry listener told off Zanu-PF Information Director, Tafadzwa Mugwadi and Labour Economists and African Democrats (LEAD) party president, Linda Masarira, who were blaming sanctions for the country...Published: 26 Oct 2022 at 06:04hrs | 3971 | by Staff reporter
Kenya linked Rishi Sunak to become UK prime minister
Rishi Sunak will become Britain's next prime minister after he won the race on Monday to lead the Conservative Party, tasked with steering a deeply divided country through an economic downturn set to ...Published: 24 Oct 2022 at 17:56hrs | 822 | by Staff reporter
Zimbabwe economy grew 9%
ZIMBABWE'S statistical agency says the economy grew by a staggering 8.5% last year from a decline of 7.8% in the prior year, exposing a wide discrepancy between official figures and those computed by ...Published: 23 Oct 2022 at 17:18hrs | 470 | by Staff reporter
Zimbabwe opposition calls for removal of embargo
Opposition political parties have called for the unconditional removal of sanctions imposed on Zimbabwe, saying the measures are holding back the country's development.On Tuesday, Zimbabwe wil...Published: 23 Oct 2022 at 09:09hrs | 123 | by Staff reporter
'Zec evasive on delimitation'
THE Zimbabwe Electoral Commission (Zec) has been accused of being too secretive on the delimitation roadmap as opposition parties raised fears yesterday that the process could be rigged in favour of t...Published: 14 Oct 2022 at 05:55hrs | 451 | by Staff reporter
Zimbabwe announces another fuel price increase
THE Zimbabwe Energy Regulatory Authority (ZERA) has increased fuel prices by at least 2,3% as economists raised fears of price hikes.According to ZERA's latest update, ZERA said traders can se...Published: 14 Oct 2022 at 05:53hrs | 1337 | by Staff reporter
Hwange 'explosion' blackouts Zimbabwe
THE major power blackout that hit Zimbabwe on Tuesday and Wednesday was reportedly a result of a massive explosion at Hwange Power Station's power generation Unit 4 on Tuesday, NewsDay Weekender has b...Published: 01 Oct 2022 at 06:12hrs | 1475 | by Staff reporter
Fresh calls to scrap Mthuli Ncube tax
ZIMBABWE'S 2% intermediated money transfer tax (IMMT) is the highest charge on electronic transactions across Africa and should be scrapped because it affects the poor more, non-governmental organisat...Published: 16 Sep 2022 at 06:08hrs | 612 | by Staff reporter
Zimdollar exchange rate stability false, economists warn
ECONOMISTS yesterday warned that the current exchange rate stability, which is largely a result of local currency shortages on the market is "false" and will be short-lived.Economist Eddie Cro...Published: 15 Sep 2022 at 05:55hrs | 1290 | by Staff reporter
Zimbabwean political party will not mourn Queen Elizabeth II
LINDA Masarira led fringe political party Labour Economist and Afrikan Democrats (LEAD) say it does not feel compelled to mourn the death of British monarch Queen Elizabeth II over what it described a...Published: 09 Sep 2022 at 19:56hrs | 1443 | by Staff reporter
Chamisa loses hope on reforms
OPPOSITION parties have lost hope of the country holding free and fair elections next year in the absence of electoral reforms.Some of the political parties have predicted a disputed poll as g...Published: 09 Sep 2022 at 06:05hrs | 2786 | by Staff reporter
SA likely to get observer status in 2023 Zimbabwe elections
Through its participation in regional governance bodies, South Africa will likely act as an elections observer when Zimbabweans go to the polls in 2023.According to International Relations and...Published: 07 Sep 2022 at 06:51hrs | 1363 | by Staff reporter
Brand Zimbabwe campaign launched
THE Brand Zimbabwe campaign, designed to enhance the country's domestic and international appeal to investors and tourists was launched in Harare yesterday backed by a wide cross section of many busin...Published: 07 Sep 2022 at 06:39hrs | 97 | by Staff reporter
Zimdollar shortage hits market
A SHORTAGE of Zimbabwe dollar notes has hit the market, plunging companies and individuals into an acute liquidity crisis.Experts say the liquidity crunch has resulted from low demand for good...Published: 02 Sep 2022 at 06:51hrs | 2906 | by Staff reporter
'Chiwenga a great disappointment at health ministry'
Vice President, who also doubles as health minister, Constantino Chiwenga, has been challenged to turn around the country's disintegrating medical care.This comes at a time social media is awa...Published: 25 Aug 2022 at 06:43hrs | 2661 | by Staff reporter
Top economists dismisse Biti over Duplum Rule effect on Zimbabwe's 200% interest interests
TOP economists have dismissed concerns by former finance minister, Tendai Biti, on the applicability of the in Duplum Rule in respect of hiked interest rates in Zimbabwe, saying that the principle is ...Published: 25 Aug 2022 at 06:42hrs | 3810 | by Staff reporter
Zimbabwe's cash-rich govt suppliers fuel currency volatility
GOVERNMENT procurement and service providers - who include public works contractors and suppliers of goods and services - are destabilising the foreign exchange market by offloading part of their stag...Published: 10 Aug 2022 at 08:40hrs | 1233 | by Staff reporter
Mnangagwa govt okays US$ school fees
GOVERNMENT has given greenlight for schools to charge fees in United States (US) dollars, leading to calls for formal dollarisation as the majority of the country's workforce earn in Zimbabwe dollars....Published: 06 Aug 2022 at 19:26hrs | 1395 | by Staff reporter
85% of gold coins sold in Zimdollars
THE Reserve Bank of Zimbabwe (RBZ) has revealed that 1 500 gold coins were sold by its agents during the first week of their release onto the market, signalling a strong demand for the yellow metal cu...Published: 02 Aug 2022 at 06:53hrs | 1631 | by Staff reporter
Falling fuel prices ease pressure on consumers
The sustained drop in fuel prices, which saw prices being reviewed downwards twice over a two-week period this month owing to falling international crude ...Published: 31 Jul 2022 at 07:08hrs | 653 | by Staff Reporter
Zimbabwe misses former commercial farmers compensation deadline
GOVERNMENT has once again failed to meet its July deadline to pay the remaining half of the US$3.5 billion in compensation to former white farmers, whose land was seized and redistributed to blacks un...Published: 25 Jul 2022 at 07:58hrs | 859 | by Staff reporter
Two-decade-old U.S. sanctions leave Zimbabweans suffering, triggering protests
Opposite the U.S. embassy northwest of the Zimbabwean capital of Harare sits an anti-sanctions camp marking 1,200 days of protest.On July 4, the organizer of the camp — Broad Alliance Agains...Published: 18 Jul 2022 at 19:50hrs | 526 | by Tichaona Chifamba, Zhang Yuliang, Cao Kai
'Zimbabwe economic outlook grim'
ECONOMISTS have warned that Zimbabwe's economic outlook looks "dark" given the country's widening trade deficit following the government's suspension of customs duties on imported consumer goods....Published: 08 Jul 2022 at 07:36hrs | 673 | by Staff reporter
Will gold coins ease the pain?
A SENATOR and economic analysts have dismissed government's new gold coins as elitist and told Finance minister Mthuli Ncube to sort out the country's financial mess.This is after Reserve Bank...Published: 07 Jul 2022 at 08:06hrs | 1114 | by Staff reporter
Mnangagwa's govt hiding behind Ukraine-Russia war'
GOVERNMENT has been accused of using the Russian invasion of Ukraine as a scapegoat for its failure to manage the country's ailing economy.On Monday, Women's Affairs, Small and Medium Enterpri...Published: 06 Jul 2022 at 18:06hrs | 421 | by Staff reporter
RBZ gold coins to strengthen Zimdollar
The Reserve Bank of Zimbabwe (RBZ) last week, following a resolution agreed on by its Monetary Policy Committee (MPC), announced plans to introduce gold coins to be used as a new investment tool to st...Published: 04 Jul 2022 at 06:54hrs | 408 | by Staff reporter
Zimbabwe has higher inflation than war-torn Ukraine
ZIMBABWE's inflation rate at 191,7% as of June 23 is now much higher than Ukraine's 41%, a country in the middle of a fierce war with Russia.In a statement, the Zimbabwe Coalition on Debt and ...Published: 01 Jul 2022 at 07:22hrs | 229 | by Staff reporter
'Mthuli Ncube, John Mangudya must resign'
OPPOSITION political parties have demanded that Finance minister Mthuli Ncube and Reserve Bank of Zimbabwe (RBZ) governor John Mangudya resign, accusing them of crafting anti-poor policies that are wo...Published: 29 Jun 2022 at 07:49hrs | 3188 | by Staff reporter
South Africans face another fuel price increase as well as interest rate hike
There seems to be no reprieve for South African wallets as another hefty fuel increase is predicted for next week, as well as economists anticipating further interest hikes.The Organisation Un...Published: 27 Jun 2022 at 19:33hrs | 692 | by Staff reporter
Zanu-PF gangs up against Mnangagwa
ZIMBABWE'S worsening economic situation has reportedly ratcheted pressure on President Emmerson Mnangagwa from within his ruling Zanu-PF party to find quick solutions as the country heads into the ele...Published: 27 Jun 2022 at 08:15hrs | 6566 | by Staff reporter
Zanu PF gangs up against Mnangagwa
ZIMBABWE'S worsening economic situation has reportedly ratcheted pressure on President Emmerson Mnangagwa from within his ruling Zanu PF party to find quick solutions as the country heads into the ele...Published: 27 Jun 2022 at 07:12hrs | 8356 | by Staff Reporter
Mthuli Ncube has not ruled out US$ salaries
GOVERNMENT yesterday said it had not yet ruled out the possibility of paying civil servants salaries in United States dollars citing the current US$175 incentive as evidence of its willingness to meet...Published: 22 Jun 2022 at 06:47hrs | 3054 | by Staff reporter
Zimbabwe trade deficit hits US$34bn as industrialisation flops
ZIMBABWE has since 2002 accumulated a trade deficit of more than US$34 billion, a clear indication that the country's industrialisation-led import-substitution programmes have failed, new data show....Published: 11 Jun 2022 at 09:31hrs | 399 | by Staff reporter
Government is right on not adopting American dollar as major currency
Calls on government to do away with our own currency, the Zimbabwe dollar/bond, should be ignored by the ED led government.Taking a look back at our neighbours, notably Zambia and Mozambique, ...Published: 09 Jun 2022 at 10:27hrs | 1518 | by AT Kadada
Pomona Project: All thunder, lightning flashes, no strike!
Pomona stink in newsroomsIlliterate newspapers are being pummelled back and forth by buffeted Mafume and his clueless Triple C councillors. It is all thunder, blinding flashes but no strike. A...Published: 04 Jun 2022 at 19:52hrs | 210 | by Staff reporter
Inflationary pressures choke Zimbabwe industry
A rising bout of inflation is posing a severe threat to Zimbabwe's industries amid growing fears most companies will struggle to restock, which could potentially trigger a significant reduction in pro...Published: 02 Jun 2022 at 09:06hrs | 1533 | by Staff reporter
Mnangagwa 2023 re-election bid causes jitters
PRESIDENT Emmerson Mnangagwa is pulling all stops to win a second full term in next year's elections amid fears that some of his initiatives will leave the economy in ruin.Mnangagwa's governme...Published: 30 May 2022 at 07:00hrs | 1162 | by Staff reporter
'Zimdollar dead by next month'
TWO of Zimbabwe's most respected economics professors have warned government to bite the bullet and redollarise because the Zimdollar "would be dead soon".Professors Gift Mugano and Anthony Ha...Published: 27 May 2022 at 06:47hrs | 1100 | by Staff reporter
Zimbabwe inflation among global highest in the world
ZIMBABWE continues to make global headlines after the country's inflation rate was ranked as one of the highest in the world alongside war-torn countries such as Syria, according to international econ...Published: 27 May 2022 at 06:45hrs | 139 | by Staff reporter
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