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South Africa could be downgraded further, economists warn
The decision by ratings agency Moody's to downgrade South Africa's sovereign's credit rating to 'junk' may be the start of further downgrades in the coming months, say Nedbank economists."In o...Published: 03 Apr 2020 at 16:27hrs | 817 | by Staff reporter
Chamisa wants Mnangagwa to provide food aid
OPPOSITION leader Nelson Chamisa has called on government to provide food aid to support the poor who cannot afford to stay at home as they live from hand to mouth during the 21-day lockdown against t...Published: 31 Mar 2020 at 15:12hrs | 504 | by Staff reporter
MLF launches Mthwakazi sovereign fund
Mthwakazi Liberation Front has launched a Mthwakazi sovereign fund for the liberation struggle to establish a federal republic.In a statement MLF President Dr Churchill Mpiyesizwe Guduza said ...Published: 31 Mar 2020 at 08:25hrs | 563 | by Stephen Jakes
Zimbabwe to be in hard times after corona virus
The coronavirus outbreak, which originated in China, has infected more than a million people and it's still counting. Its spread has left businesses around the world counting costs and rea...Published: 31 Mar 2020 at 07:52hrs | 665 | by Dr Masimba Mavaza
Zimbabwe parallel market rates nosedive
THE value of the United States dollar against the Zimbabwe dollar on the parallel market has nosedived due to a drop in demand, economists have said.The depreciation comes hardly a week after ...Published: 30 Mar 2020 at 18:58hrs | 7817 | by Staff reporter
The history of economic thought
Classical economics lays the basis for modern day economic thought. The Classical Economists included Adam Smith, David Ricardo, Thomas Malthus. These touted capitalism and free markets as drivers of ...Published: 29 Mar 2020 at 10:09hrs | 226 | by Dr Tapiwa Mashakada
How COVID-19 is changing the lives of Tanzanians
As the coronavirus (COVID-19) swept through Asia, Europe and North America early this year, medical experts warned that it was just a matter of time before other continents, including Africa, would st...Published: 29 Mar 2020 at 09:07hrs | 970 | by Stella Vuzo
Zimbabwe's problems keep piling - from starvation to coronavirus
THE COVID-19 outbreak is expected to worsen Zimbabwe's problems as the southern African country grapples with a tanking economy, the worst food shortages in decades and a collapsing health system, obs...Published: 29 Mar 2020 at 07:25hrs | 149 | by Staff reporter
Jobs bloodbath hits Zimbabwe firms
A staggering 210,333 jobs were made redundant in 2019 as local companies threw workers onto the streets in response to the realities of a debilitating liquidity crunch, low productivity, punitive real...Published: 21 Mar 2020 at 06:21hrs | 3079 | by Staff reporter
COVID-19: We will come through this together
The upheaval caused by the coronavirus - COVID-19 -- is all around us. And I know many are anxious, worried and confused. That's absolutely natural. We are facing a health threat u...Published: 16 Mar 2020 at 14:32hrs | 615 | by António Guterres
Forex fuel irks transports operators, motorists
GOVERNMENT'S decision to licence a number of service stations to sell fuel in foreign currency as the Emmerson Mnangagwa administration battles to rein in recalcitrant economic problems has irked publ...Published: 08 Mar 2020 at 08:26hrs | 404 | by Staff reporter
Chamisa dumps Thabo Mbeki
MDC leader Nelson Chamisa has all but dumped foreign-meditated talks with his nemesis, President Emmerson Mnangagwa, preferring a home-grown solution to the current economic and political crises facin...Published: 28 Feb 2020 at 08:01hrs | 3098 | by Staff reporter
Zimbabwe recession deeper than thought?
Nyasha Mutseyekwa, a minivan transporter in Zimbabwe's capital Harare, cannot afford new tyres for his ramshackle kombi, selling at US$45 for a good second hand.Whether he opted to pay in US c...Published: 16 Feb 2020 at 17:35hrs | 955 | by Staff reporter
Land Reform: Zimbabwe's biggest independence milestone
ON 18 April this year, Zimbabwe will be celebrating 40 years of self-rule from British colonial domination. It is the right time for the country to take stock of its achievements, developments and cha...Published: 16 Feb 2020 at 08:34hrs | 265 | by Vincent Gono
Mthuli Ncube to start publishing inflation statistics
Zimbabwe will start publishing year-on-year inflation statistics from this month, with the February 2019 to February 2020 figure expected next month. This follows the building of data on prices in the...Published: 14 Feb 2020 at 05:52hrs | 141 | by Staff reporter
CBZ bows down to client backlash
FINANCIAL services group, CBZ Holdings, says it will review downwards its Point of Sale (POS) charges following a backlash from its customers. Frustrated consumers took to social media platfor...Published: 12 Feb 2020 at 05:39hrs | 3098 | by Staff reporter
What kind of economics is Mthuli Ncube practising?
FINANCE minister Mthuli Ncube seems to like quoting economic principles found in textbooks.But, for some reason, the Treasury boss forgets the most basic economic principle: economic growth is...Published: 09 Feb 2020 at 06:02hrs | 1622 | by Staff reporter
Outcry over 'exorbitant' POS charges
CONSUMER lobby groups have raised concern over the "exorbitant" Point of Sale (POS) charges banks have recently effected when customers buy goods using debit cards. The consumer representative...Published: 03 Feb 2020 at 05:28hrs | 1844 | by Staff reporter
Zimbabwe's hard-pressed war vets demand more
Veterans of Zimbabwe's liberation struggle have asked government to review their monthly pensions in line with the poverty datum line and the rising cost of living.The economy is beset by risi...Published: 30 Jan 2020 at 09:47hrs | 1861 | by Staf reporter
Civil servants accept 140% pay hike, seek more
CIVIL servants have accepted a 140% salary hike starting this month, a union official said yesterday, averting a potential strike against President Emmerson Mnangagwa's government.Soaring infl...Published: 30 Jan 2020 at 09:05hrs | 1536 | by Staff reporter
Zimra targets US$ charging businesses to raise dollars
Zimbabwe's tax agency on Monday ordered businesses charging their customers in foreign currency to also settle their tax obligations in foreign currency, as the government aims to raise scarce dollars...Published: 30 Jan 2020 at 09:05hrs | 895 | by Staff reporter
Zimra says to collect tax in forex from businesses selling in US dollar, rand
The Zimbabwe Revenue Authority (Zimra) on Monday ordered businesses charging their customers in foreign currency to also settle their tax obligations in foreign currency, as the government aims to rai...Published: 28 Jan 2020 at 12:57hrs | 826 | by Staff reporter
2020 holds no promise for troubled Zimbabwe
A SHORT queue has formed outside a supermarket in Sunningdale, a supposedly middle-class suburb in Harare.Behind the supermarket, a truck is offloading bags of mealie-meal, a commodity that re...Published: 26 Jan 2020 at 06:18hrs | 254 | by Staff reporter
Zimbabwe to adopt smart agriculture
Government says it is engaging agriculture sector stakeholders to promote and implement a comprehensive transformation which will allow farmers to migrate from conventional farming methods to smart ag...Published: 21 Jan 2020 at 18:57hrs | 520 | by Staff rpeorter
Zimdollar has been a disaster for asset values, economy
The introduction of Zimbabwe's own currency, the ZWL, in February 2019 has been a disaster as many economists, as well as ourselves, had predicted. Since it was launched the ZWL has fallen fro...Published: 19 Jan 2020 at 13:14hrs | 585 | by John Legat
Mthuli Ncube sticks to his guns
Finance and Economic Development Minister Professor Mthuli Ncube has stuck to his guns, maintaining that the country is going to achieve 3 percent economic growth for 2020 in the face of independent f...Published: 19 Jan 2020 at 05:33hrs | 2144 | by Staff reporter
Percy Gwanyanya takes philanthropic work to all corners of Zimbabwe
Harare based business man and philanthropist Percy Gwanyanya (37) has launched a scholarship program which will benefit many across the country.Gwanyanya who is the founder and Managing Direct...Published: 18 Jan 2020 at 08:27hrs | 1134 | by Tinashe Eric Muzamhindo
Reserve bank to inject 500m cash into circulation
The Reserve Bank of Zimbabwe (RBZ) plans to inject half a billion new notes and coins into circulation by the first half of this year, according to Finance and Economic Development Minister Mthuli Ncu...Published: 12 Jan 2020 at 08:07hrs | 3125 | by Dr Masimba Mavaza
Currency stability tops RBZ priorities -
Reducing inflation and maintaining a stable exchange rate are the Reserve Bank of Zimbabwe (RBZ)'s top priorities in the new year to bolster President Mnangagwa's drive to increase production, grow th...Published: 03 Jan 2020 at 00:28hrs | 3709 | by Staff Reporter
Zanu-PF 28th conference, the last nail in MDC A’s coffin
The 18th Zanu-PF Annual National People’s Conference in Goromonzi closed after a week of intensive and fruitful deliberations.Participant...Published: 31 Dec 2019 at 02:12hrs | 11584 | by Dr Masimba Mavaza
Zimbabweans not depositing cash back into banking system'
THE Bankers' Association of Zimbabwe (BAZ) says demand for cash remains higher than supply as many clients do not deposit their funds back into the system despite continued withdrawals. Long w...Published: 24 Dec 2019 at 06:03hrs | 707 | by Staff reporter
Central bank injects more notes into circulation
The Reserve Bank of Zimbabwe injected an additional $20 million of banknotes into circulation in the last week, with much of it channelled to the People's Own Savings Bank (POSB), used to distribute a...Published: 21 Dec 2019 at 07:37hrs | 1656 | by Staff Reporter
Mnangagwa vows Zimbabwe will 'never, never' dollarise again
President Emmerson Mnangagwa vowed on Friday not to revert to using the United States dollar after the Zimbabwe plunged against the greenback since its introduction this year, fuelling inflation and e...Published: 14 Dec 2019 at 18:15hrs | 1166 | by Staff reporter
The President is right
Recent statements by President Mnangagwa that Zimbabwe would not go back to use of multi-currencies should be applauded. The use of in particular the greenback brought misery than benefits...Published: 14 Dec 2019 at 08:38hrs | 3360 | by A Kadada
Mthuli Ncube budget statement a fraud, says Biti
FINANCE minister Mthuli Ncube's 2020 budget statement is in a shambles with several errors and inconsistences in figures compared to those in the proposed estimates of expenditure (Blue Book), former ...Published: 03 Dec 2019 at 07:21hrs | 413 | by Staff rpeorter
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: 22 Nov 2019 at 17:59hrs | 348 | by Reuters
No Chamisa, Mnangagwa talks anytime soon
MDC leader Nelson Chamisa will not enter into dialogue with his arch-rival President Emmerson Mnangagwa as long as Zanu PF keeps on scoffing at the opposition party's preconditions, an MDC executive h...Published: 20 Nov 2019 at 08:00hrs | 2907 | by Staff reporter
Mnangagwa courts Dubai investors
Zimbabwe intends to lure cash-rich investors from the United Arab Emirates (UAE) to exploit opportunities in mining, tourism and manufacturing when it engages them at the 5th Global Business Forum on ...Published: 18 Nov 2019 at 06:25hrs | 192 | by Staff reporter
Can new Zimdollar relieve the chronic cash crunch?
Gason Mukuvadzi, a lanky man with boyish looks, sits behind a makeshift desk in Mbare's Mupedzanhamo centre. An umbrella canvas shelters him from the blistering sun as he waits for customers looking t...Published: 15 Nov 2019 at 06:19hrs | 371 | by Staff reporter
Tendai Biti sent cracking?
Revered economic analyst, Brighton Musonza, has said the return of the Zimbabwean dollar (ZWL$) has sent economic arrivalists such as Tendai Biti cracking with no technical argument against it....Published: 13 Nov 2019 at 20:39hrs | 13376 | by Staff reporter
Zimbabweans angered by $300 bank withdrawal limits
Zimbabweans finally got access to new low-denomination currency on Tuesday that authorities hope will end chronic cash shortages, but banks maintained an existing weekly withdrawal limit of $300 (US$2...Published: 12 Nov 2019 at 18:08hrs | 4036 | by Staff reporter
Long queues as Zimbabwe releases new bank notes, coins
New bank notes and coins finally hit the streets of Zimbabwe on Tuesday after a false start the day before, with depositors forming long queues at banks and ATMs. The new notes are part of Pre...Published: 12 Nov 2019 at 12:07hrs | 3383 | by Staff reporter
Mnangagwa to solve fuel crisis
President Emmerson Mnangagwa on Thursday met with a special envoy from Mozambique President Filipe Nyusi Minister of Transport and Communication Mr Carlos Mesquita, to discuss a number of bilateral is...Published: 07 Nov 2019 at 15:46hrs | 5083 | by Mandla Ndlovu
Police to allow Wednesday's civil servants protests in Harare
Police have given public sector workers permission to march for better pay on Wednesday in what is widely seen as a test of President Emmerson Mnangagwa's willingness to tolerate dissent.A not...Published: 05 Nov 2019 at 08:03hrs | 4214 | by Reuters
$2 coins issuance date set
THE Reserve Bank of Zimbabwe (RBZ) will issue two-dollar coins on Monday next week and these will circulate alongside the two-dollar bond note, the Governor, Dr John Mangudya, said yesterday. ...Published: 05 Nov 2019 at 06:44hrs | 526 | by Staff reporter
'Cash injection to end bank queues'
THE move by the Reserve Bank of Zimbabwe (RBZ) to inject $1 billion new notes and coins by mid this month will ease cash shortages, economists have said. Bank queues had become a norm in Zimba...Published: 04 Nov 2019 at 05:54hrs | 941 | by Staff reporter
Russia's 'troll factory' is alive and well in Africa
(CNN) - In the runup to the 2020 election, the graduates of Russia's infamous "troll factory" are honing their fake-news skills. This time, they are doing it openly, using Africa as a proving ground -...Published: 03 Nov 2019 at 17:02hrs | 1507 | by Mary Ilyushina, CNN
New notes above board, monetary policy education key
The announcement of the imminent introduction of new bank notes and coins by the Reserve Bank of Zimbabwe (RBZ) on Tuesday prompted divided opinion among the transacting public.The development...Published: 01 Nov 2019 at 14:21hrs | 2290 | by Ashley Kondo
Zimbabwe economy set to shrink 6,5%
Zimbabwe's economy is set to shrink by 6,5% this year – its first contraction in a decade — after a drought and power shortages, the Finance minister said yesterday.Power generation could ...Published: 01 Nov 2019 at 06:37hrs | 245 | by Reuters
Masarira out to depolarise mindsets
Opposition party Labour Economists and African Democrats (LEAD ) has embarked on a national drive to depolarise the minds of Zimbabweans. In an interview, LEAD president Linda Masarira-Kaingid...Published: 01 Nov 2019 at 06:25hrs | 132 | by Staff reporter
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