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2030: Zimbabwe will be using domestic currency
THE Reserve Bank of Zimbabwe (RBZ) has announced plans for a structured transition from the current multicurrency system to a domestic monetary framework, aimed at ensuring business continuity and eco...Published: 13 Aug 2025 at 12:35hrs | 454 | by Staff reporter
Zimbabwe hits US$44,9bn in digital transactions
Zimbabwe's financial sector has marked a major milestone in its digital transformation, processing a record 381 million electronic transactions worth ZiG1,2 trillion (US$44,9 billion) in the first hal...Published: 12 Aug 2025 at 08:32hrs | 207 | by Staff reporter
Zimbabwe govt mulls fresh taxes
Finance Minister Mthuli Ncube yesterday unveiled plans to impose new taxes, despite growing resistance from businesses and taxpayers who argue that Zimbabwe's current tax burden is already suffocating...Published: 01 Aug 2025 at 08:02hrs | 383 | by Staff reporter
ZimStat confirms dominance of Zimbabwe's huge informal sector
The Zimbabwean economy is overwhelmingly dominated by informal micro-businesses, according to a preliminary report of the 2023 Economic Census released yesterday by the Zimbabwe National Statistics Ag...Published: 24 Jul 2025 at 09:32hrs | 158 | by Staff reporter
Zimbabwe banks process R6bn via regional payment systems
Zimbabwean banks processed transactions worth R6.09 billion (approximately US$339 million) through the Southern African Development Community Real-Time Gross Settlement System (SADC-RTGS) in 2024, mar...Published: 27 Jun 2025 at 18:32hrs | 289 | by Staff reporter
Zimbabwe Parliament demands removal of punitive taxes
Parliament has sharply escalated pressure on Treasury to urgently scrap punitive taxes, including the highly contentious 2% Intermediated Money Transfer Tax (IMTT), by August 31, 2025, in a bid to hal...Published: 26 Jun 2025 at 11:25hrs | 1733 | by Staff reporter
Woes mount for Zimbabwe formal businesses\
Informal traders who largely evade taxes and levies are placing formal retail and wholesale businesses in Zimbabwe at a significant competitive disadvantage, burdened by a heavy and complex taxation r...Published: 23 Jun 2025 at 10:58hrs | 247 | by Staff reporter
Zimbabwe's cashless push stumbles
Zimbabwe's digital payments ecosystem experienced a notable contraction in the first quarter of 2025, with the total value of electronic transactions processed through national payment systems falling...Published: 16 Jun 2025 at 14:42hrs | 170 | by Staff reporter
Smuggling takes toll on Zimbabwe economy
A sharp increase in smuggling and unregulated imports is intensifying illicit financial flows (IFFs) in Zimbabwe, severely undermining the country's formal retail sector. Authorities have recently pro...Published: 16 May 2025 at 10:41hrs | 409 | by `
RBZ hikes limits for mobile money and electronic transactions
Zimbabwe's Reserve Bank (RBZ) has announced an increase in transaction limits for mobile money and electronic transfers, a move aimed at addressing the challenges posed by rising inflation and fluctua...Published: 02 Nov 2024 at 08:49hrs | 5617 | by Staff reporter
Zimbabwe's new policy outlines plans to widen tax base
The Zimbabwean government has announced a new policy under the Zimbabwe Industrial Reconstruction and Growth Plan (ZIRGP) to simplify tax models for Small to Medium Enterprises (SMEs). This move aims ...Published: 27 Oct 2024 at 12:18hrs | 277 | by Staff reporter
Mnangagwa orders Parliament to finalise PVO Bill
President Emmerson Mnangagwa has directed the 10th Parliament to expedite the finalization of the Private Voluntary Organisations (PVO) Bill, a move critics argue will significantly restrict the opera...Published: 03 Oct 2024 at 08:57hrs | 263 | by Staff reporter
Zimbabwe govt working on currency stability
In a comprehensive State of the Nation Address delivered yesterday at the new Parliament Building in Mt Hampden, President Emmerson Mnangagwa highlighted the government's ongoing efforts to stabilize ...Published: 03 Oct 2024 at 08:47hrs | 172 | by Staff reporter
RBZ exempts transactions less than US$10 from bank charges
Starting from 1 September 2024, the Reserve Bank of Zimbabwe (RBZ) will exempt electronic transactions under US$10 (or the ZiG equivalent) from bank charges. This move aims to encourage the use of ele...Published: 31 Aug 2024 at 11:13hrs | 148 | by Staff reporter
Mnangagwa must fire Mthuli, Mushayavanhu & Guvamatanga, says Zanu-PF activist
South African-based Zanu-PF supporter Kudzai Mutisi has urged President Emmerson Mnangagwa to remove Minister of Finance, Economic Development and Investment Promotion Mthuli Ncube, the Ministry's per...Published: 22 Aug 2024 at 14:59hrs | 3812 | by Staff reporter
Zimra faces significant debt
The Zimbabwe Revenue Authority (Zimra) faces a significant debt of US$421.4 million and ZiG854.72 million from both private companies and public institutions by the end of the first half of 2024. The ...Published: 02 Aug 2024 at 07:04hrs | 219 | by Staff reporter
Does Mnangagwa intend stabilizing the economy by creating a phantom currency?
Does Mnangagwa intend stabilizing the economy by creating a phantom currency?Ever since the Zimbabwe government announced a new currency on 5th April 2024, they have never ceased bragging over...Published: 26 Jun 2024 at 20:56hrs | 6 | by Tendai Ruben Mbofana
Zimbabweans complain over ZiG cash shortage
Business operators and residents in Gweru are expressing concerns about the scarcity of the new currency, Zimbabwe Gold (ZiG), and are urging the Reserve Bank of Zimbabwe (RBZ) to increase the availab...Published: 24 May 2024 at 08:35hrs | 7 | by Staff reporter
Zimbabwe's new currency notes out this week
ZIMBABWEANS were transacting exclusively in United States dollars yesterday as the country began transitioning to the new currency — Zimbabwe Gold (ZiG) — following unveiling of the new gold-backe...Published: 07 Apr 2024 at 10:06hrs | 2 | by Staff reporter
'Zimbabwe can be tech hub'
THE vice president of technology and society at Google, Dr James Manyika, believes Zimbabwe has the potential to become Southern Africa's technology hub and intends to leverage on his expertise to emp...Published: 10 Mar 2024 at 06:22hrs | 2 | by Staff reporter
Zimbabwe rural teachers declare poverty, strike
RURAL teachers have downed their tools after officially declaring incapacitation to the government as a new wave of price increases is pushing the cost of living to astronomical levels.In an i...Published: 12 Feb 2024 at 13:53hrs | 2 | by Staff reporter
Mnangagwa addresses first session of 10th Parliament
PRESIDENT Mnangagwa addressed the first session of the 10th Parliament this afternoon at the new Parliament Building in Mount Hampden, Harare.Below is the full speech.It is my singular...Published: 03 Oct 2023 at 14:30hrs | 21 | 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
Mnangagwa calls for political tolerance
PRESIDENT Mnangagwa yesterday called for political tolerance among politicians aspiring to contest in the 2023 harmonised elections.The President also said parliamentarians should swiftly atte...Published: 24 Nov 2022 at 04:57hrs | 2 | by Staff reporter
'Billions of electronic transactions untaxed'
AS the use of modern electronic payment systems continues to grow globally, experts say it is critical to increase investment into fiscal tools that enable the country to widen its ability to tax elec...Published: 19 Oct 2022 at 05:56hrs | 2 | by Staff reporter
Scrap 2% tax, citizens tell Govt
Citizens have demanded that the 2% transaction tax be scrapped, saying it is a burden to the already financially hamstrung and over-taxed population.This came out on Monday during the 2023 pre...Published: 05 Oct 2022 at 06:37hrs | 2 | 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 | | by Staff reporter
Why is Zimbabwe starving?
LONG-STANDING financial troubles and drought in Zimbabwe have pushed millions to the brink of starvation.Government has declared a state of disaster as months of drought have exacerbated a nat...Published: 22 Jul 2022 at 06:43hrs | 14 | by Claire Felter
Sigh of relief for commuters
THE upward review of hire fees for commuter omnibuses that are contracted under the Zimbabwe United Passenger Company (Zupco) franchise has helped ease transport challenges for the travelling public....Published: 15 May 2022 at 06:10hrs | 2 | by Staff reporter
'Mnangagwa will regret the day he appointed Mangudya, Mthuli Ncube,' says Biti
Former Zimbabwe Finance Minister Tendai Biti has said the move by the Reserve Bank to introduce a ZW$100 note is ill advised and a waste of time.Biti said the fact that the note can not buy an...Published: 09 Apr 2022 at 19:47hrs | 1 | by Staff reporter
Cash-only businesses dodging taxes
Harare's downtown businesses and other informal sector players have found a way of avoiding taxes by demanding cash transactions only, and strictly in US dollars, forcing customers to buy the greenbac...Published: 10 Oct 2021 at 06:35hrs | 4 | by Staff reporter
RBZ revises year-end inflation forecast upwards as currency weakens
Zimbabwe's annual inflation rate could end the year between 35 percent and 53 percent, up from an earlier estimate of 25 percent to 35 percent, the central bank said in a statement shared with reporte...Published: 05 Oct 2021 at 06:44hrs | 1 | by Staff reporter
The Law is struggling to keep up with technology
Now that the cyber security and data protection bill is awaiting the signature of the President of Zimbabwe to become law. The purpose of the bill is to consolidate cyber related offences and provide ...Published: 30 Sep 2021 at 13:44hrs | 3 | by Jacob Kudzayi Mutisi
EcoCash merchant transactions reviewed to Z$20 000
THE country's largest mobile money service provider, EcoCash, has been granted greenlight to facilitate once-off transaction limits of up to $20 000 for merchant and bill payments so as to enhance con...Published: 26 Aug 2021 at 17:58hrs | 18 | by Staff Reporter
Cyber Bill revoked, undergoing tweaks
THE Cyber Security and Data Protection Bill, passed without debate in Senate last week, was revoked after it was discovered that it had an error and the Bill must now go through the committee stage an...Published: 04 Aug 2021 at 06:26hrs | 1 | by Staff reporter
Cyber Security Bill referred back to Senate
THE Cyber Security Bill, which was passed without debate in Senate last Wednesday, has been revoked after it was discovered that it had an error.The law seeks to regulate the use of internet a...Published: 02 Aug 2021 at 07:45hrs | | by Staff reporter
Understanding the Zimbabwe economy
I OFTEN say to visiting experts and diplomats that, if you say you understand Zimbabwe, you have not been here long enough.We are a tiny blip on the global radar but we punch well above our we...Published: 26 Mar 2021 at 05:52hrs | 1 | by Eddie Cross
Taming high inflation, economic priority
Despite the significant fall in annual inflation from 363% (In January) to 322% for the month of February 2021, prices for goods and services in the economy continue to increase marginally in every mo...Published: 09 Mar 2021 at 22:31hrs | 1 | by Victor Bhoroma
Power cut closes Bulawayo businesses
BUSINESSES in Bulawayo are counting losses following a five-day blackout in parts of the city centre due to an electrical fault at a Zesa substation in Belmont industrial area. The fault has a...Published: 05 Mar 2021 at 06:20hrs | 2 | by Staff reporter
Zimbabwe to fund Covid-19 vaccines with government finances
Zimbabwe will fund the purchase of coronavirus vaccines to inoculate about two-thirds of its adult population from government finances, according to a top treasury official."Once all the scien...Published: 27 Jan 2021 at 21:22hrs | | by Staff reporter
Presumptive tax triggers storm
ZIMBABWE's informal businesses, making up about 60% of the country's economy, say government missed the point when it moved to impose a monthly presumptive tax on small-to-medium scale enterprises (SM...Published: 30 Dec 2020 at 07:32hrs | 1 | by Staff reporter
Economic growth stimulus precedes taxation
Zimbabwe's 2021 national budget paints a picture of sustained austerity in the mid-term, with increases in taxes for various sectors of the depressed economy. A 126% jump in budgeted tax revenue colle...Published: 22 Dec 2020 at 19:28hrs | 12 | by Victor Bhoroma
Zimbabwe industry on edge over 2% forex tax
Bankers have said the recently introduced 2% Intermediated Money Transfer Tax on foreign currency is inflationary and erodes the rising confidence in the local currency. Bankers Association of...Published: 12 Nov 2020 at 07:08hrs | | by Staff reporter
Zimbabwe in state of radical uncertainty, says Prof Hawkins
Zimbabwe is in a state of radical uncertainty, economic consultant Tony Hawkins told an Association of Healthcare Funders of Zimbabwe (AHFoZ) all stakeholders webinar on health on Wednesday."I...Published: 29 Oct 2020 at 12:50hrs | 1 | by Agencies
Slow pace of reforms derailed TSP
The Zimbabwean government recently announced the conclusion of the 2 year Transitional Stabilization Programme (TSP) which will be replaced by the first five year National Development Plan (NDP). TSP ...Published: 11 Oct 2020 at 10:00hrs | 1 | by Victor Bhoroma
Zimbabwe's business climate can improve
As the Zimbabwe Stock Exchange (ZSE) puts final touches on the infrastructure needed for operations of the Victoria Falls Securities Exchange (VFEX), investors await to see if their major concerns on ...Published: 11 Oct 2020 at 09:57hrs | 2 | by Victor Bhoroma
Slow pace of reforms derailed TSP
The Zimbabwean government recently announced the conclusion of the 2 year Transitional Stabilization Programme (TSP) which will be replaced by the first five year National Development Plan (NDP). TSP ...Published: 10 Oct 2020 at 12:04hrs | 1 | by Victor Bhoroma
Zimbabwe govt pleads with sceptical investors over Victoria Falls bourse
FINANCE minister Mthuli Ncube has assured investors that they will be legally empowered to repatriate their earnings on the Victoria Falls Stock Exchange (VFSE).This comes in the wake of an es...Published: 02 Oct 2020 at 07:46hrs | 5 | by Staff reporter
After TSP, diaspora engagement critical, says Mthuli Ncube
AS government winds up the Transitional Stabilisation Programme (TSP) amid a plethora of challenges it faces in turning around the economy, the Zimbabwe Independent (ZI) caught up with Finance ministe...Published: 02 Oct 2020 at 07:43hrs | 12 | by Staff reporter
Businesses warned for flouting forex auction rate
GOVERNMENT has condemned the practice by some businesses to charge people paying in local currency using rates that are above the foreign currency auction rate. Most shops are not adhering to ...Published: 26 Aug 2020 at 07:07hrs | | by Staff reporter
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