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Zimbabwe's gold-backed digital tokens mop up $34bn excess liquidity
THE Reserve Bank of Zimbabwe (RBZ) has mopped up $34 billion through gold-backed digital tokens, which are part of measures to reduce liquidity in the market and expand the value-preserving instrument...Published: 39 mins ago | 15 | by Staff reporter
Econet pays $89bn in statutory obligations
ECONET Wireless Zimbabwe contributed $89 billion to the Government coffers through various statutory payments in the financial year ended 28 February 2023.The amount is a significant jump of 2...Published: 40 mins ago | 12 | by Staff reporter
Mthuli Ncube's import duty waiver on basic goods praised
ZIMBABWEANS have applauded the Government for lifting all restrictions on the import of basic commodities to boost market supplies and granting a 100 percent retention of domestic foreign currency ear...Published: 43 mins ago | 11 | by Staff reporter
Money changers defraud man of $23 million
A Harare man recently lost $23 million to money changers who had promised to give him US$14 000 cash in exchange for making two transactions to different bank accounts.Justice Mahuni who appea...Published: 44 mins ago | 32 | by Staff reporter
Chiwenga brandishes Zanu-PF fist on 'holy' pulpit
VICE President Constantino Chiwenga, Sunday stood at St. Alois Parish's pulpit before tens of congregants, wearing President Emmerson Mnangagwa's scarf and brandishing a clenched fist in what might be...Published: 12 hrs ago | 691 | by Staff reporter
Zimdollar's black month
THE official auction and interbank exchange rates rose by about 100% and 150%, respectively, last month marking a significant depreciation of the Zimbabwe dollar, a new report has found.At the...Published: 05 Jun 2023 at 06:53hrs | 1126 | by Staff reporter
You misled the magistrate, Reza tells lawyer
Deputy Prosecutor-General Michael Reza came to the defence of a Harare magistrate who is being sued for US$170 000 by a local lawyer for alleged mischaracterisation of her application for postponement...Published: 05 Jun 2023 at 06:49hrs | 479 | by Staff reporter
RBZ cannot control black market exchange rate
THE Reserve Bank of Zimbabwe (RBZ) is not responsible for the skyrocketing black-market exchange rate amid rising inflation in the country, according to the its senior payment systems analyst, Howard ...Published: 05 Jun 2023 at 06:48hrs | 704 | by Staff reporter
Zimbabwe millers, retailers in stand-off over mealie meal
The Grain Millers Association of Zimbabwe (GMAZ) says mainstream retail shops have low stocks of mealie meal because they want the product on credit terms at a time the exchange rate is volatile....Published: 04 Jun 2023 at 08:38hrs | 130 | by Staff reporter
US foreign policy and the Zimbabwe dollar!
In my life journey, my three years stay in Jamaica was probably the most traumatic and most revealing as to how the imperialists work.I am, therefore, surprised that Mthuli Ncube and his handl...Published: 04 Jun 2023 at 08:37hrs | 214 | by Kenneth Mufuka
Bullets outclass CAPS United
Cranborne Bullets 2 - 1 CAPS UnitedTHE Zimbabwe Republic Police was on high alert, anticipating further riotous behaviour from CAPS United fans, but in the end, there was peace at the Nation...Published: 04 Jun 2023 at 08:30hrs | 37 | by Staff reporter
Banks scale back Zimbabwe dollar lending
BANKS have significantly reduced lending in the local currency ever since monetary authorities hiked interest rates last year to prevent rent-seeking behaviour by individuals and corporates, Reserve B...Published: 04 Jun 2023 at 08:29hrs | 40 | by Staff reporter
Tempers flare at Zanu-PF Mashonaland West women's quota nomination meeting
Zanu-PF Mashonaland West top activists came to near fist-fights as tempers rose at Thursday's party Provincial Coordinating Committee (PCC) meeting to endorse local authority women's quota candidates....Published: 03 Jun 2023 at 08:22hrs | 643 | by Staff reporter
Mthuli Ncube feels heat
THE government's ambitious growth projections are unlikely to be met because of protracted blackouts, which have stifled exports and further weakened the local currency.In December last year, ...Published: 02 Jun 2023 at 18:17hrs | 1221 | by Staff reporter
Opportunity for Zimbabwean Film Industry Professionals
Submissions have opened for the third Creative Producers Indaba (CPI), a film producers' development programme presented by the Realness Institute, in collaboration with EAVE, International Film Festi...Published: 02 Jun 2023 at 10:25hrs | 99 | by Agencies
Zimdollar in spectacular crash
THE Zimbabwe dollar crashed by a whopping 60% against the United States dollar in May alone, underlining a raging economic crisis that has wiped salaries and sent prices soaring.Zimbabwe's eco...Published: 02 Jun 2023 at 06:48hrs | 1619 | 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 | 345 | by Staff reporter
Gweru in weekly parking fee hike
GWERU City Council increased parking fees from $2 200 to $3 000 per hour with effect from yesterday, barely a week after it effected another increment.The previous fee increase was on May 26....Published: 02 Jun 2023 at 06:46hrs | 135 | by Staff reporter
EcoCash posts $4,76bn loss
ECOCASH Holdings Zimbabwe Limited (EHZL) has posted a $4,76 billion loss for its financial year ended February 28, 2023 owing to monetary exchange losses worth $30,1 billion linked to its failure to r...Published: 02 Jun 2023 at 06:44hrs | 240 | 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 | 1267 | by Staff reporter
'Zimbabwe has no capacity for full dollarisation'
RESERVE Bank of Zimbabwe (RBZ) Governor, Dr John Mangudya, has urged Zimbabweans to embrace the local currency saying the country has no capacity to sustain a fully dollarised economy.While th...Published: 02 Jun 2023 at 06:42hrs | 158 | by Staff reporter
Mphoko vs Welshman Ncube in trust funds theft case
THE case between former Vice President Phelekezela Mphoko and Citizens Coalition for Change (CCC) interim vice president, Professor Welshman Ncube, where the former is accusing the latter of the...Published: 02 Jun 2023 at 06:42hrs | 397 | by Staff reporter
RBZ clarifies new forex surrender policy
THE Reserve Bank of Zimbabwe (RBZ) is set to meet with the Bankers Association of Zimbabwe (BAZ) and Accountant General with a view to map the way forward on the use of foreign exchange from the 25 pe...Published: 02 Jun 2023 at 06:40hrs | 175 | by Staff reporter
The US Dollar to be rendered useless by year end
China's place on the world stage advances year by year. It is arguably already the world's largest economy. Its Belt and Road Initiative and its other international links like the BRICS have helped to...Published: 02 Jun 2023 at 06:32hrs | 947 | by Erick Matotoba
3 best platforms for content creators to monetize their work
Content creation refers to producing original and engaging content across various mediums. From YouTubers like PewDiePie to your favorite meme page on Instagram, an average person's digital life invol...Published: 01 Jun 2023 at 15:55hrs | 132 | by Staff Reporter
'Dump Zimdollar'
ECONOMIC analysts have said Finance minister Mthuli Ncube's new measures introduced on Monday have very little chance of saving the Zimbabwe dollar from collapse.They instead advised Ncube to ...Published: 01 Jun 2023 at 06:47hrs | 1042 | by Staff reporter
Low tariffs chew into Econet earnings
ECONET Wireless Zimbabwe (EWZ) has posted a near $17 billion loss for the year ended February 28, 2023, owing to a 317,14% increase in exchange losses during the period as the local currency tumbled....Published: 01 Jun 2023 at 06:45hrs | 160 | by Staff reporter
Mealie-meal shortage hits Zimbabwe?
ILLICIT deals involving some unscrupulous suppliers and traders have been blamed for creating artificial shortages of mealie-meal in formal shops while the commodity is being diverted to the streets a...Published: 01 Jun 2023 at 06:42hrs | 374 | by Staff reporter
ConCourt backs RBZ on US dollar conversion
The 2018 decision by the Reserve Bank of Zimbabwe (RBZ) to convert all US dollar balances in Zimbabwean bank accounts to local currency was quite constitutional the Constitutional Court ruled yesterda...Published: 01 Jun 2023 at 06:40hrs | 270 | by Staff reporter
Zimbabwe govt to cushion workers' salaries
Civil servants salaries will soon be reviewed to cushion them from price hikes as the Government remains resolute in supporting and improving the welfare of its workers, a Cabinet Minister has said....Published: 01 Jun 2023 at 06:39hrs | 448 | by Staff reporter
US embassy refuses to back down after spat with Zimbabwe
The United States embassy in Harare has refused to back down over tweets urging Zimbabweans to register and vote after its top diplomat was summoned to a meeting at the foreign affairs ministry on Tue...Published: 31 May 2023 at 20:58hrs | 1214 | by Staff reporter
ConCourt sets aside RTGS/US$ High Court ruling
THE Constitutional Court (ConCourt) has set aside a landmark ruling by High Court judge Justice Joseph Mafusire who ordered CABS Bank to pay a local businessman US$142 000, which it had converted to R...Published: 31 May 2023 at 07:02hrs | 1327 | by Staff reporter
President Ruto asks Africans to ditch the US Dollar
President William Ruto has asked African leaders to take first steps towards ditching the globally-bullish US dollar by signing up to a pan-African payments system to facilitate trade within the conti...Published: 30 May 2023 at 22:32hrs | 1002 | by Erick Matotoba
Mthuli Ncube banks on new currency measures
Finance minister Mthuli Ncube on Monday announced new measures to encourage the use of the Zimbabwe dollar as opposed to the U.S. dollar, in a bid to boost the local unit and tame rising consumer infl...Published: 30 May 2023 at 15:10hrs | 1272 | by Staff reporter
Chinese foreign minister holds talks with Zimbabwean counterpart
Chinese State Councillor and Foreign Minister Qin Gang held talks with Minister of Foreign Affairs and International Trade of Zimbabwe Frederick Shava in Beijing on Monday, calling for bilateral ties ...Published: 30 May 2023 at 06:53hrs | 214 | by Staff reporter
Mthuli's theatrics expose government lack of seriousness in addressing Zim economic crisis!
So, finance minister Mthuli Ncube, over the weekend, went around shops in Bulawayo, like a crazed vigilante, tearing down tags displaying prices strictly in US dollars!He even berated a haples...Published: 29 May 2023 at 23:02hrs | 539 | by Tendai Ruben Mbofana
Zimbabwe govt departments warned for dumping Zimdollar
Finance and Economic Development secretary George Guvamatanga has warned government departments to desist from giving preference to clients paying for services in US dollars as opposed to local curren...Published: 29 May 2023 at 06:43hrs | 1822 | by Staff reporter
Jonathan Moyo issues a warning
EXILED former cabinet minister, Jonathan Moyo has warned that the recent threats by Finance minister Mthuli Ncube to crack down on businesses over price hikes will only worsen the already dire situati...Published: 29 May 2023 at 06:41hrs | 7038 | by Staff reporter
Redollarise, labour tells Zimbabwe govt
CALLS for the government to redollarise Zimbabwe's economy are growing louder, with labour unions saying it would arrest inflation which has wiped out salaries.Zimbabwe's month-on-month inflat...Published: 29 May 2023 at 06:35hrs | 633 | by Staff reporter
At what stage does a President concede failure?
IF I were the President of Zimbabwe - what would I be expected to do under the prevailing economic circumstances?The country goes for an average 20 hours each day without electricity, and most...Published: 29 May 2023 at 06:34hrs | 252 | by Tendai Ruben Mbofana
Zimdollar not going anywhere
THE Treasury has assured the market of continued usage of the local currency and that deliberate steps are being taken to strengthen its value so as to restore consumer purchasing power and buttress t...Published: 29 May 2023 at 06:32hrs | 369 | by Staff reporter
Sanctions eroding value of Zimdollar
The depreciation of the Zimbabwe dollar is partly due to illegal economic sanctions imposed on the country by Western countries, the African Development Bank (AfDB) said in its African Economic Outloo...Published: 29 May 2023 at 06:30hrs | 191 | by Staff reporter
Massive price hikes throw the Zimbabwe economy into turmoil
THE Zimbabwean government is having sleepless nights over price hikes, which have continued unabated, plunging low-income earners into immense poverty, a snap survey by The NewsHawks.Commodity...Published: 28 May 2023 at 17:54hrs | 775 | by Staff reporter
Suspended Nssa boss mired in US$353 000 luxury cars scandal
SUSPENDED National Social Security Authority (Nssa) boss Arthur Manase was removed partly due to a scandal over two top-of-the-range cars valued US$353 000 which he bought in violation of company poli...Published: 28 May 2023 at 17:22hrs | 1245 | by Staff reporter
A critical review of Al Jazeera's Gold Mafia documentary
APRIL, famously characterised as "the cruellest month" by distinguished poet and literary critic TS Eliot in his critically acclaimed essay "The Wasteland" - not because its first day celebrates fools...Published: 28 May 2023 at 17:07hrs | 719 | by Jonathan Moyo
At what stage does a president concede he has failed?
If I were the president of Zimbabwe - what would I be expected to do under these circumstances?The country goes for an average 20 hours each and every day without electricity, and most urban a...Published: 28 May 2023 at 16:02hrs | 237 | by Tendai Ruben Mbofana
Who sent Mthuli Ncube to Zimbabwe?
Mthuli Ncube was the founder of the Barbican Bank, an elite institution that faced serious liquidity challenges, was involved in rampant fraudulent foreign exchange activities among other vices. After...Published: 28 May 2023 at 15:58hrs | 1033 | by Sam Wezhira
Mnangagwa govt fails to rig price hikes
The Reserve Bank of Zimbabwe (RBZ) has frozen bank accounts of four major distributors of basic commodities as President Emmerson Mnangagwa's government scrambles to find solutions to soaring prices a...Published: 28 May 2023 at 08:09hrs | 164 | by Staff reporter
Zimbabwe toothpaste maker faces closure
The country's only toothpaste maker - Merken- is in danger of going out of business following the government's decision to allow the unfettered entry of the products it manufactures into the country, ...Published: 28 May 2023 at 08:07hrs | 275 | by Staff reporter
Zimbabwe's FIU to probe businesses inflating prices for USD bank transfers
THE Reserve Bank of Zimbabwe's Financial Intelligence Unit (FIU) has said it will investigate unethical behaviour exhibited by various businesses after it emerged that they are forcing customers to pa...Published: 28 May 2023 at 08:00hrs | 57 | by Staff reporter
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