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Zimbabwe foreign currency remittances hit US$1,2 billion
FOREIGN currency remittances surged by 16,5% to hit a record US$1,2 billion in the first half of 2024 leaving diasporans standing out as lucrative foreign currency earners for the economy.The ...Published: 19 hrs ago | 361 | by Staff reporter
Zimbabwe, United Kingdom trade up 67%
Trade between Zimbabwe and Britain surged by 67 percent to over US$800 million in 2023 compared to 2022, according to UK deputy ambassador to Zimbabwe, Dr. Joanne Abbot. Speaking at the launch...Published: 19 hrs ago | 98 | by Staff reporter
Willowton to unveil US$7m margarine plant
Willowton, a Mutare-based producer of edible oils and soaps, is about to launch a new margarine plant. The facility, currently in test runs, will begin full production in September with a monthly capa...Published: 24 Jul 2024 at 09:16hrs | 299 | by Staff reporter
Zimbabwe's lithium gambit: Navigating China-US rivalry
Lithium is Zimbabwe's third-largest mineral export after gold and platinum group of metals, bringing in US$2,46 billion and US$2,27 billion, respectively, in 2023.AS the world is going through...Published: 15 Jul 2024 at 08:17hrs | 214 | by Samir Bhattacharya
Zimbabwe should ditch the toxic US dollar
Zimbabwe's economy has been intertwined with the US dollar for over a decade, a relationship that began as a pragmatic response to hyperinflation and economic collapse in the late 2000s. The adoption ...Published: 12 Jul 2024 at 09:46hrs | 45 | by Staff writer
Zimbabwe economy on the upswing, rating agency says
ICRA Rating, a UAE-based credit rating agency, has lauded Zimbabwe's economy for demonstrating impressive resilience and growth. The agency attributes this positive outlook to recent government initia...Published: 12 Jul 2024 at 09:15hrs | 28 | by Staff reporter
Why Zimbabwe should break free from the US dollar's grip
Government Up Close"Normalcy is that a country must have its own currency," President Mnangagwa is on record highlighting this fact.Some people have argued that one of the gravest fina...Published: 11 Jul 2024 at 14:10hrs | 59 | by Nick Mangwana
Zimbabwe company ventures into lithium battery production
Verify Engineering, a Zimbabwean company, has started lithium battery production, aligning with Zimbabwe's focus on mineral value addition and beneficiation. With Africa's largest lithium reserves, Zi...Published: 08 Jul 2024 at 10:50hrs | 7 | by Staff reporter
Zimbabwe economy could hamper Mnangagwa's Brics ambition
President Emmerson Mnangagwa has announced Zimbabwe's readiness to join the BRICS grouping, claiming the country now has a stable currency and solid economic fundamentals. BRICS, comprising Brazil, Ru...Published: 02 Jul 2024 at 12:49hrs | 2 | by Staff reporter
Zimbabwe invites Türkiye to Sadc exhibition
Zimbabwe has invited Türkiye's Foreign Economic Relations Body (DEIK) to participate in the SADC Industrialisation Week, set to take place from July 28 to August 2 at the Harare International Confere...Published: 01 Jul 2024 at 03:51hrs | 4 | by Staff reporter
David Coltart to lead delegation to Indonesia
Bulawayo Mayor, Councillor David Coltart, will lead a delegation to Jakarta, Indonesia, to highlight the city's investment opportunities in digital connectivity, food systems, energy access, and job c...Published: 30 Jun 2024 at 18:18hrs | | by Staff reporter
South African GNU and Zimbabwe economy
GNU as portfolio controlThis week, South Africa's President Cyril Ramaphosa was inaugurated for his second and last term in office under the current Constitution.What is now awaited is...Published: 22 Jun 2024 at 11:28hrs | 2 | by @Jamwanda2 on Saturday
Dinson Colliery expansion to boost production, exports
Hwange-based Dinson Colliery has launched Phase Four of its operations, featuring 85 coke oven batteries, to enhance infrastructure, boost production, and expand exports. Currently, the company operat...Published: 17 Jun 2024 at 08:57hrs | | by Staff reporter
Intra-Africa exports surge
At the 31st Afreximbank Annual Meetings in Nassau, The Bahamas, Kwazulu-Natal premier Nomusa Dube-Ncube highlighted Africa's growing intracontinental commerce, which now constitutes 16.3% of total tra...Published: 13 Jun 2024 at 10:26hrs | | by Staff reporter
Manufacturing sector on the rise in Zimbabwe
Zimbabwe's manufacturing sector is experiencing a significant resurgence, with capacity utilization surging to 53.2 percent, driven by growth in food, tobacco, cotton, leather, timber, furniture, phar...Published: 10 Jun 2024 at 14:03hrs | 35 | by Tonderai Ndoro
'Zimbabwe a top 5 gold smuggler'
A recent report titled "On the Trail of African Gold: Quantifying Production and Trade to Combat Illicit Flows" by SWISSAID reveals that Zimbabwe ranks among the top five African countries engaged in ...Published: 03 Jun 2024 at 09:14hrs | 2 | by Staff reporter
Zimbabwe mulls probe into drop in gold output
The government is considering investigating the small-scale gold mining sector to determine the factors behind the recent decline in deliveries, amid fears of increased smuggling. Gold production from...Published: 02 Jun 2024 at 09:04hrs | | by Staff reporter
Warm reception for Zimbabwean blueberries in South Africa
The Zimbabwean blueberry export season commenced in mid-April, with the first products being shipped to South Africa where blueberry prices remain favourable. "The market has to be good to mak...Published: 28 May 2024 at 10:18hrs | | by Staff reporter
'Green Bombers' join ZiG campaign
As the Reserve Bank of Zimbabwe grapples with making the new currency work by using several measures including a crackdown on illegal money changers, government's quasi-military wing, the National You...Published: 25 May 2024 at 13:00hrs | | by Staff reporter
Zimbabwean blueberry producers seek access to Chinese market
At a farm in Marondera, about 80 kilometers east of the Zimbabwean capital Harare, blueberries are ripening in May. Workers carefully pick the plump berries from the shrubs, ensuring not to damage the...Published: 24 May 2024 at 08:22hrs | 2 | by Staff reporter
Zimbabwe applies for ISO code for ZiG
The Reserve Bank of Zimbabwe (RBZ) is actively pursuing an International Organisation for Standardisation (ISO) code for the Zimbabwe Gold (ZiG), signaling its intention to establish ZiG as an indepen...Published: 22 May 2024 at 10:14hrs | 4 | by Staff reporter
China to revamp Zimbabwe railway company
Zimbabwe is in talks with China Railway Group Ltd. to help modernize the state-owned National Railways of Zimbabwe."We believe that we could make use of their expertise and financial muscle to...Published: 22 May 2024 at 09:25hrs | | by Staff reporter
NRZ, Chinese firm in US$500 million investment deal
THE National Railways of Zimbabwe (NRZ) is gaining momentum in its recapitalisation efforts, as it has signed a lucrative agreement with TransTech, a subsidiary of China Railway International Group (C...Published: 20 May 2024 at 09:24hrs | 3 | by Staff reporter
ZiG needs to be backed by RBZ discipline
According to the Reserve Bank of Zimbabwe (RBZ), a structured currency is a currency that is pegged to a specific exchange rate or currency basket and backed by a bundle of foreign exchange assets lik...Published: 16 Apr 2024 at 18:04hrs | | by Zimbabwe Coalition on Debt and Development
Zimbabwe celebrates independence amid doom
WHEN visiting some towns, urban and rural areas across the country one is greeted by sullen and dropping faces with sorrow and hunger written all over their faces.In a few days to come Zimbabw...Published: 16 Apr 2024 at 18:03hrs | | by Leonard Koni
RBZ is the problem not ZiG!
Before going to press on the Zimbabwe currency crisis, I had seven questions I wanted authoritatively answered. Professor Gift Mugano was the answer."Isn't he the one who is supposed to disapp...Published: 16 Apr 2024 at 17:58hrs | | by Kenneth Mufuka
44 years into independence a giant is still facing economic collapse
Visiting some towns, urban and rural areas across the country one is greeted by sullen and dropping faces with sorrow and hunger written all over their faces.In a few days to come Zimbabwe wil...Published: 13 Apr 2024 at 16:40hrs | | by Leonard Koni
Zimbabweans told to approach banks for ZiG, USD
The Reserve Bank of Zimbabwe has enough reserves to satisfy the foreign currency requirements of all legitimate businesses and no company needs to go to the black market to pay for imports, RBZ Govern...Published: 12 Apr 2024 at 09:47hrs | | by Staff reporter
ZiG Currency: Catalyzing Zimbabwe's Middle-Income Pursuit - Empowering Economic Well-being
Zimbabwe has taken a crucial step in revitalizing the economy and instilling trust in the financial sector by introducing the groundbreaking Zimbabwean Gold-backed Dollar (ZiG) as the official replace...Published: 10 Apr 2024 at 22:17hrs | | by Elvis Dzvene
Mnangagwa's disaster management under scrutiny
PRESIDENT Emmerson Mnangagwa's US$2 billion humanitarian assistance plea has raised eyebrows as it is more than what regional countries suffering from El Niño-induced drought have asked for.S...Published: 08 Apr 2024 at 10:45hrs | | by Staff reporter
Half ZiG and coins to start circulating on April 30
The Reserve Bank of Zimbabwe (RBZ) in the 2024 Monetary Policy Statement introduced a new "structured currency" termed ZiG (Zimbabwe Gold) on April 5. A "structured currency" is a currency tha...Published: 07 Apr 2024 at 21:08hrs | | by Staff reporter
AfDB to fund a $250 million gold mine in Zimbabwe
THE African Development Bank (AfDB) has shown great interest in funding Caledonia Mining Corporation's planned $250 million gold mine in Zimbabwe.The information was relayed by the company's c...Published: 06 Apr 2024 at 08:16hrs | | by Staff reporter
RBZ adopts market-based exchange rate
THE Reserve Bank of Zimbabwe (RBZ) has adopted a market-determined system for setting exchange rates, with the auction system being replaced by a refined interbank foreign exchange market which connec...Published: 06 Apr 2024 at 08:06hrs | | by Staff reporter
Mnangagwa to declare drought state of disaster
ZIMBABWE is expected to declare the drought which is ravaging the country a state of disaster in a bid to marshal resources and avert possible starvation, NewsDay can reveal.President Emmerson...Published: 03 Apr 2024 at 06:05hrs | 1 | by Staff reporter
'Declare drought a national disaster'
ZAPU leader Sibangilizwe Nkomo has called on government to declare a state of emergency resulting from the El Nino-induced drought.The 2023/24 farming season has been condemned as a write-off,...Published: 30 Mar 2024 at 15:36hrs | | by Staff reporter
Afrochine loses US$3m tax battle with Zimra
AFROCHINE Smelting Private Limited has been ordered to pay nearly US$3 million in royalties for under-declaring its earnings. Afrochine Smelting is a company that produces and exports ferrochrome, an ...Published: 11 Mar 2024 at 11:31hrs | | by Staff reporter
Zimbabwe unstoppable, says Mnangagwa
Despite the albatross of illegal, unjust, and baneful economic sanctions, Zimbabwe will continue marching on the path towards upper-middle-class economic status by 2030 with every Zimbabwean having a ...Published: 09 Mar 2024 at 09:13hrs | | by Staff reporter
Mnangagwa regime doing the work of US sanctions in Zimbabwe!
My own views on this sanctions issue have always been that we needed to prove these measures were the cause of our suffering. I have never denied that there have been targeted sanctions impose...Published: 06 Mar 2024 at 23:01hrs | 4 | by Tendai Ruben Mbofana
CCC MP raps Zanu-PF over partisan food distribution
BINGA South Citizens Coalition for Change (CCC) legislator, Fanuel Cumanzala, has accused Zanu-PF officials of hijacking the yet to be launched food aid distribution programme to ensure only its party...Published: 26 Feb 2024 at 04:52hrs | | by Staff reporter
Zimbabwe suffers US$6,8 billion trade gap
ZIMBABWE has operated in negative trade deficit of US$6,8 billion for the last four years, a trend which is unsustainable in the long run according to Buy Zimbabwe, a campaign outfit that advoca...Published: 25 Feb 2024 at 07:21hrs | | by Staff reporter
Seized Russian fertiliser consignment finally arrives
ABOUT 10 000 tonnes of fertiliser, which are part of the 26 000-tonne consignment from Uralchem Group, a leading Russian agrochemical producer, have arrived in Zimbabwe.Uralchem pledged close ...Published: 25 Feb 2024 at 07:11hrs | | by Staff reporter
Disco's US$1,5 billion steel plant complete
CONSTRUCTION of the US$1,5 billion steel plant in Manhize near Mvuma is complete, with the project tentatively set for commissioning on June 10 this year.The plant, which is touted to be Afric...Published: 25 Feb 2024 at 07:06hrs | | by Staff reporter
Chivayo says he can't help everybody
Wait a minute!He said it, he could not help everybody as there are "channels and procedures to follow to get in touch with me".These were the words from businessman Wicknell Chivayo, w...Published: 17 Feb 2024 at 08:36hrs | | by Staff reporter
Zimbabwe records jump in investment proposals
Zimbabwe saw a massive growth in the value of proposed investments in the fourth quarter of 2023 despite approving fewer new investor licenses, according to the Zimbabwe Investment and Development Age...Published: 16 Feb 2024 at 04:56hrs | | by Staff reporter
Zimbabwe to benefit from AfDB's US$40m Mozambique facility
THE African Development Bank's (AfDB) US$40 million loan to Mozambique's State-owned rail and port authority, Portos e Caminhos de Ferro de Moçambique EP (CFM), will help neighbouring countries, incl...Published: 09 Feb 2024 at 06:59hrs | | by Staff reporter
Zimbabwe's trade deficit reaches US$268,7million
ZIMBABWE exported goods worth US$550,6 million in December with three major export destinations South Africa, the United Arab Emirates and China accounting for about 73 percent of the total value, lat...Published: 30 Jan 2024 at 04:21hrs | 1 | by Staff reporter
China-Zimbabwe trade surges by 29.9% in 2023
Trade between China and Zimbabwe hit a record high of 3.12 billion U.S. dollars in 2023, reflecting a 29.9 percent increase from the previous year, the Chinese Embassy in Zimbabwe said Monday....Published: 23 Jan 2024 at 04:45hrs | 1 | by Staff reporter
Mnangagwa heads to DRC for Tshisekedi inauguration
PRESIDENT Mnangagwa is today expected to join a dozen of Heads of State and Government to witness the inauguration of Democratic Republic of the Congo (DRC) president-elect Felix Tshisekedi.Tw...Published: 20 Jan 2024 at 07:07hrs | 1 | by Staff reporter
Global headwinds spell doom for Zimbabwe
TOP international economists predict that the global economy will decline this year, spelling trouble for Zimbabwe's foreign market-dependent economy.The Treasury expects Zimbabwe's economic g...Published: 20 Jan 2024 at 07:06hrs | | by Staff reporter
Zimbabwe to support Mozambique ports project
Speaking during a wide-ranging press briefing at the ruling Zanu-PF party headquarters in Harare yesterday, national spokesperson Ambassador Christopher Mutsvangwa said a number of ports are under dev...Published: 16 Jan 2024 at 04:36hrs | | by Staff reporter
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