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'NRZ has been on perennial decline mode'
THE National Railways of Zimbabwe (NRZ) says COVID–19-induced hard lockdowns and competition from the road transportation system will see total freight volumes dropping to 2,1 million tonnes this ye...Published: 21 Oct 2021 at 06:21hrs | 304 | by Staff reporter
Chamisa's MDC needs to grow up if it wants to be electable
It is difficult to understand the MDC-A's continuous pressure to have the financial sanctions against Zimbabwe maintained, and what looks like a willingness to manufacture evidence of Government wrong...Published: 21 Oct 2021 at 06:19hrs | 419 | by Staff reporter
Zimbabwe Dry Port operating at 65% capacity
THE Zimbabwe Dry Port facility at Walvis Bay in Namibia is operating at between 65% and 70% of capacity due to lack of support from the local business community, the company's acting area manager Just...Published: 20 Oct 2021 at 07:39hrs | 346 | by Staff reporter
Zanu-PF hides behind sanctions to evade accountability
ONE thing Rhodesians could be trusted for was doing that which their country — no matter how bizarre — wanted done. The Rhodesians would do it, no lip service, something that Zanu-PF finds hard, i...Published: 19 Oct 2021 at 06:29hrs | 383 | by Concerned
'Offshore centre plans on track'
FINANCE minister Mthuli Ncube says Zimbabwe has made significant strides in its quest to set up an offshore financial services centre in Victoria Falls.He said a planned commodities exchange w...Published: 19 Oct 2021 at 06:28hrs | 131 | by Staff writer
'Loadshedding to go in three months'
LOADSHEDDING being experienced in the country will be a thing of the past in three months' time as the Zimbabwe Electricity Supply Authority (Zesa) is employing a number of measures to ensure there is...Published: 19 Oct 2021 at 06:28hrs | 690 | by Staff writer
Sydney Gata slams Guvamatanga for stalling solar power plants
ZIMBABWE Electricity Supply Authority (ZESA) executive chairperson Sydney Gata has strongly castigated Finance Ministry secretary George Guvamatanga for refusing to guarantee Independent Power Produce...Published: 19 Oct 2021 at 06:26hrs | 521 | by Staff writer
Sanctions affect ordinary people
IN a week's time, we will have the Anti-Sanctions Day again.In August 2019, the Southern African Development Community (SADC) declared October 25 as the Anti-Sanctions Day in solidarity with t...Published: 17 Oct 2021 at 08:59hrs | 52 | by Nobleman Runyanga
US$2bn allocated at forex auctions
More than US$2 billion was allotted to almost 6 000 entities at the Reserve Bank of Zimbabwe's weekly foreign currency auctions from when they opened near the end of June last year to the end of last ...Published: 16 Oct 2021 at 06:26hrs | 115 | by Staff reporter
Govt will keep digging in on currency
IN the week under review the Zimbabwean dollar (Zimdollar) swept past the psychological 1:90 mark. The local unit has been losing ground against the United States dollar on a weekly basis, for 24 stra...Published: 15 Oct 2021 at 20:20hrs | 171 | by Respect Gwenzi
Industry in fresh push for bailout
ZIMBABWE'S manufacturing sector has escalated its push for State-assisted bailout packages to stem a blazing crisis precipitated by the COVID–19 pandemic, a deteriorating foreign currency crisis and...Published: 15 Oct 2021 at 06:21hrs | 153 | by Staff reporter
Zanu-PF MP calls Martin Dinha a 'thief'
NATIONAL Railways of Zimbabwe (NRZ) chairperson Martin Dinha, has been called a "thief" who is busy stripping the state-owned entity's assets for resell and thereby reversing the gains of Zimbabwe's l...Published: 15 Oct 2021 at 06:20hrs | 1541 | by Staff reporter
Illicit dealings cost Zimbabwe $2bn annually
Zimbabwe Anti-Corruption Commission (Zacc) chairperson Justice Loice Matanda-Moyo has said the country is losing about $2 billion annually through illicit dealings with the private sector being the ma...Published: 15 Oct 2021 at 06:16hrs | 68 | by Staff reporter
Can Caterpillars Save Us?
For as long as anyone can remember, mopane worms have provided a critical source of nutritional and financial sustenance for Zimbabweans, especially in the country's southernmost provinces.In ...Published: 14 Oct 2021 at 19:24hrs | 940 | by Fortune Moyo
Private sector major culprit of graft, says Zacc boss
THE Zimbabwe Anti-Corruption Commission (Zacc) says the private sector is the major culprit in corruption as players are evading taxes and inflating figures, among other ills causing serious damage to...Published: 14 Oct 2021 at 06:26hrs | 588 | by Staff reporter
Wage dispute threatens Hwange power station upgrades
A Chinese firm, SinoHydro Corporation, which is undertaking the refurbishment of Hwange Thermal Power Station is reportedly engaged in a wage dispute with its employees who accuse it of unfair labour ...Published: 14 Oct 2021 at 06:25hrs | 444 | by Staff reporter
Chloride expands outlets as imports fall
ZIMBABWE'S biggest battery maker, Chloride Zimbabwe, says outlets of its Exide Express, have increased by 330% in the past five years, as demand increases on the domestic market in response to import ...Published: 14 Oct 2021 at 06:24hrs | 216 | by Staff reporter
Zesa promises to improve electricity supply
Electricity supplies are set to improve soon as Zesa completes a cocktail of interventions to end the major load shedding that has hit residential areas hard and has even affected industrial areas alt...Published: 14 Oct 2021 at 06:22hrs | 148 | by Staff reporter
Time Bank offers to finance former farmers' compensation
Time Bank Zimbabwe Limited that is set to re-open its doors to the public on December 01 this year, has excited the market after unveiling four types of loan facilities among them a scheme for payment...Published: 14 Oct 2021 at 06:20hrs | 179 | by Staff reporter
CZI warns of imminent Zimdollar collapse
THE Confederation of Zimbabwe Industries (CZI) has warned that the local currency faces imminent collapse and called on government to come up with alternative policy measures to restore confidence in ...Published: 13 Oct 2021 at 06:10hrs | 1077 | by Staff reporter
Plan to stabilise bread flour prices
The Grain Millers Association of Zimbabwe (GMAZ) is in talks with Government to stabilise the prices and supplies of bread flour until the end of the year.Speaking in Bindura, GMAZ national ch...Published: 13 Oct 2021 at 06:09hrs | 159 | by Staff reporter
Sanctions collapsed Zimbabwe beef industry
THE country's famed beef industry collapsed at the turn of the millennium following the imposition of illegal sanctions by Western countries when the country embarked on the successful fast-track land...Published: 13 Oct 2021 at 06:06hrs | 242 | by Staff reporter
RBZ vows to tame forex black market
RESERVE Bank of Zimbabwe (RBZ) governor John Mangudya yesterday pledged to continue availing foreign currency through the foreign exchange auction system to ensure uninterrupted supply.Mangudy...Published: 12 Oct 2021 at 05:58hrs | 680 | by Staff reporter
Truckers block traffic at Limpopo bridge
COMMERCIAL traffic going into South Africa and Zimbabwe through the Beitbridge border post was yesterday delayed by more than four hours after truck drivers staged a sit-in at the New Limpopo Bridge d...Published: 12 Oct 2021 at 05:57hrs | 640 | by Staff reporter
RBZ, business reach consensus on exchange rates, pricing
A number of agreements were thrashed out yesterday between the Reserve Bank of Zimbabwe and leaders of the business sector to deal with what everyone agreed were unjustified jumps in black-market exch...Published: 12 Oct 2021 at 05:55hrs | 691 | by Staff reporter
What China's overseas coal exit could mean for Zimbabwe
IN response to What China's overseas coal exit plans could mean for Zimbabwe' XYZ says: Is being fair to acknowledge that the environmental accusations made towards China are somehow unfair.As...Published: 11 Oct 2021 at 06:02hrs | 1474 | by MDC-T president Douglas Mwonzora
ZimTrade predicts exports growth
TRADE development and promotion agency, ZimTrade, says Zimbabwe's exports will continue on the growth trajectory experienced throughout this year until December.The growth has been underpinned...Published: 10 Oct 2021 at 06:55hrs | 241 | by Staff reporter
Mnangagwa must arrest corrupt ministers
IN Zimbabwe, it is very easy to stop corruption and demonstrations. President Emmerson Mnangagwa does not have to use brutal force and intimidation.Firstly, Mnangagwa should find out why...Published: 09 Oct 2021 at 07:30hrs | 407 | by Community Podium
Sustainable reforms now key to foreign exchange market
The Reserve Bank of Zimbabwe (RBZ) recently announced that it is on course to clear the backlog of foreign exchange auction allotments which date back to as far as three months and amounting to about ...Published: 08 Oct 2021 at 19:03hrs | 245 | by Victor Bhoroma
Zimdollar market correction
A MAJOR highlight of this week's auction is the magnitude of currency depreciation. The Zimbabwean dollar (Zimdollar) weakened by the highest weekly margin since the beginning of the year, a strong si...Published: 08 Oct 2021 at 19:03hrs | 295 | by Respect Gwenzi
'US$500m changing hands outside banks'
ABOUT US$500 million could be circulating outside Zimbabwe's banking system, Reserve Bank of Zimbabwe (RBZ) estimates showed last week, as industries said they had raised only a fraction of billions r...Published: 08 Oct 2021 at 19:03hrs | 813 | by Staff reporter
China sees third force in huge outcry over its Zimbabwe activities
Zimbabweans must learn from the pastIT has been clear since radical currency reforms were effected in February 2019 that inflation, along with the parallel market exchange rate would derail prospe...Published: 08 Oct 2021 at 19:01hrs | 164 | by Staff reporter
China sees third force in huge outcry over its Zimbabwe activities
FOLLOWING months of a huge outcry over Chinese enterprises' "exploitative" strategy in Zimbabwe's mineral resources, Beijing's diplomats in Harare spoke out this week, telling the Zimbabwe Independent...Published: 08 Oct 2021 at 19:01hrs | 1173 | by Staff reporter
Big Zimbabwean companies are fingered in forex fiddle
TOP executives and directors from up to 20 big companies face imminent arrest following a Reserve Bank of Zimbabwe (RBZ) investigation into massive multi-million-dollar fraud involving the country's f...Published: 08 Oct 2021 at 18:58hrs | 876 | by Staff reporter
Mnangagwa's State of the Nation address
PRESIDENT Mnangagwa delivered a State of the Nation Address and officially opened the Fourth Session of the Ninth Parliament of Zimbabwe yesterday. He tackled a wide r...Published: 08 Oct 2021 at 06:27hrs | 422 | by Staff reporter
Govt ups forex black market fight
GOVERNMENT is implementing a raft of additional measures to curb the illegal trading of forex and the benchmarking of prices using the parallel market rates, Finance and Economic Development Minister ...Published: 08 Oct 2021 at 06:26hrs | 303 | by Staff reporter
Noose tightened on Innscor and other retailers using black market rates
Retailers that continue to flout foreign currency regulations by setting prices in US dollars and then converting at the blackmarket rate will have their operating licences immediately suspended while...Published: 08 Oct 2021 at 06:26hrs | 412 | by Staff reporter
ZimAlloys to resume production next year
Zimbabwe Alloys (ZimAlloys), one of the country's largest ferrochrome producer is looking to re-start production during the first quarter of next year, an official has saidThe company owns thr...Published: 08 Oct 2021 at 06:24hrs | 292 | by Staff reporter
Eddie Cross says 'not unhappy' with black market foreign currency exchange
For a year, Eddie Cross sat on the Reserve Bank of Zimbabwe's Monetary Policy Committee, before he was fired for being too outspoken. In a recent interview with TechZim, he reveals why he is "...Published: 07 Oct 2021 at 18:21hrs | 1915 | by Staff reporter
Pepsi plans massive Zimbabwe expansion
ZIMBABWE'S fast-growing beverages maker, Varun Beverages said it planned to expand its operations in the country despite commissioning a US$12 million water bottling plant at its Harare operation on W...Published: 07 Oct 2021 at 07:05hrs | 1624 | by Staff reporter
PepsiCo commissions a US$12 million water bottling plant in Zimbabwe
ZIMBABWE'S fastest growing beverages maker, Varun Beverages announced a massive expansion strategy on Wednesday, as it commissioned a US$12 million water bottling plant at its Harare operation....Published: 07 Oct 2021 at 07:02hrs | 236 | by Staff reporter
Forex blackmarket: More arrests loom
More people illegally dealing in foreign currency will soon be arrested and more financial institutions charged as Government cracks the whip against those driving and manipulating the black market de...Published: 07 Oct 2021 at 07:01hrs | 710 | by Staff reporter
Taming inflation is an arduous task
The Zimbabwe National Statistics Agency (Zimstat) pointed that year on year (annual) inflation rate marginally increased to 51.55% in September 2021 from 50.24% in August 2021 after 8 months of straig...Published: 06 Oct 2021 at 09:13hrs | 429 | by Victor Bhoroma
Zimbabwean teachers embrace Rwanda jobs offer
LOCAL educators yesterday said there was nothing to celebrate during this year's World Teachers' Day commemorations, but applauded plans by the Rwandan government to recruit qualified teachers from Zi...Published: 06 Oct 2021 at 05:49hrs | 1274 | by Staff reporter
Forex abusers, money laundering kingpins not deterred by arrests
Foreign currency abusers and money laundering kingpins continue to defy the law despite recent arrests, a situation that has resulted in the eroding of incomes and unnecessary suffering.The ex...Published: 06 Oct 2021 at 05:46hrs | 928 | by Staff reporter
Who is behind forex dealers?
NO matter how well-meaning and determined, the Reserve Bank of Zimbabwe (RBZ) could be towards uprooting rampant delinquency in the economy, the effort may count for nothing if other institutions are ...Published: 05 Oct 2021 at 06:38hrs | 1366 | by Nathan Gurira
Zimbabwe ready to export teachers to Rwanda
GOVERNMENT has started working on bilateral arrangements with Rwanda to export local teachers to the east-central African nation.This follows Rwandan President Paul Kagame's call for the impor...Published: 05 Oct 2021 at 06:35hrs | 601 | by Staff reporter
Sanctions on Zimbabwe must just be removed
TANZANIA served as the hub of the struggle for independence of southern Africa from the 1960s to the early 1990s.Thousands of freedom fighters were trained at Morogoro, in central Tanzania. Al...Published: 05 Oct 2021 at 06:35hrs | 114 | by Staff reporter
Sanctions are real, but we're shooting ourselves in the foot
No matter how well-meaning and determined the Reserve Bank of Zimbabwe (RBZ) could be towards uprooting rampant delinquency in the economy, the effort may count for nothing if other institutions that ...Published: 05 Oct 2021 at 06:32hrs | 206 | by Nathan Gurira
Zimbabwe set to be major steel producer
A third major steelworks is now scheduled for Zimbabwe as the country moves rapidly forward as a major steel producer in Africa with local firm Steelmakers set to start building a steel mill in Masvin...Published: 05 Oct 2021 at 06:30hrs | 280 | by Staff reporter
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