Search / Financial crisis
State diamond firm lays off hundreds to avoid collapse
Zimbabwe's state-controlled diamond miner, the Zimbabwe Consolidated Diamond Company (ZCDC), has launched a major retrenchment exercise in a desperate bid to stave off collapse, following a brutal cra...Published: 13 Jul 2025 at 11:08hrs | 136 | by Staff reporter
AMH employees receive zero earnings after salary cuts and forced leave
Some employees at Alpha Media Holdings (AMH), one of Zimbabwe's leading private media companies, have received zero net earnings in the Zimbabwe Gold (ZiG) component of their salaries for two consecut...Published: 11 May 2025 at 19:47hrs | 1100 | by Ndou Paul
South Africa reverses VAT increase that threatened ANC-DA coalition
Enoch Godongwana's decision came after the second-biggest party, the Democratic Alliance (DA), threatened to quit the government, warning a VAT hike would hurt the poor the most.Godongwana, a ...Published: 25 Apr 2025 at 07:42hrs | 453 | by Staff reporter
Crisis continue to rock AMH
The financial troubled major private media company- Alpha Media Holdings in Zimbabwe is riling into continuous crisis as the management has since last mon...Published: 06 Apr 2025 at 22:48hrs | 2318 | by Staff Reporter
Zimbabwe's Health ministry in budget quandary
The Ministry of Health and Child Care has called for a supplementary budget to mitigate the impact of the withdrawal of United States funding, particularly towards HIV and Aids programmes. The funding...Published: 27 Mar 2025 at 06:18hrs | 254 | by Staff reporter
Bulawayo Mayor rules out quick fix for City's deteriorating roads
Bulawayo Mayor David Coltart has acknowledged that the city's worsening road network crisis will not be resolved anytime soon due to a severe financial shortfall. The municipality requires approximate...Published: 07 Feb 2025 at 06:38hrs | 239 | by Staff reporter
Mnangagwa's govt accused of Intellectual Property theft
Zimbabwe's government is embroiled in a heated dispute with Time Bank after the financial institution accused authorities of infringing on its intellectual property rights. The bank claims that govern...Published: 01 Feb 2025 at 14:03hrs | 2046 | by Staff reporter
Bulawayo residents cry foul over ablution crisis
Residents of Iminyela in Bulawayo's Ward 13 have expressed frustration over the Bulawayo City Council's (BCC) failure to complete the construction of toilets, a project that began over a decade ago, a...Published: 20 Jan 2025 at 10:11hrs | 224 | by Staff reporter
Bulawayo City Council cuts water supplies to schools
The Bulawayo City Council (BCC) has intensified its debt recovery efforts, cutting off water supplies to 59 schools in a bid to recover outstanding payments. This bold move comes as the local authorit...Published: 15 Dec 2024 at 09:14hrs | 493 | by Staff reporter
South Africa running out of money at an alarming rate
Efficient Group chief economist Dawie Roodt has warned that South Africa is heading for a financial crisis due to its growing debt burden.Speaking to State of the Nation's Mark Sham, Roodt sai...Published: 09 Dec 2024 at 15:15hrs | 727 | by Staff reporter
'Banks refuse to make salary payments on behalf of Zimbabwe govt'
A dramatic financial crisis has hit Zimbabwe's civil service as banks have reportedly withheld payments for thousands of public sector workers' salaries, citing the government's inability to meet its ...Published: 03 Dec 2024 at 09:58hrs | 12998 | by Staff reporter
Councilors gobble US$1m to meet Mnangagwa
In a controversial move that has sparked public outcry, Zimbabwe's cash-strapped local authorities spent an estimated US$1 million to fund the travel and allowances of nearly 2,600 councilors who atte...Published: 30 Nov 2024 at 13:35hrs | 268 | by Staff reporter
Zimbabwe govt sinks in deep financial hole
The recent 43% devaluation of Zimbabwe's Zimbabwe Gold (ZiG) currency has exacerbated the government's financial crisis, leaving it struggling to meet its obligations while civil servants and other pu...Published: 19 Nov 2024 at 13:38hrs | 7767 | by Staff reporter
Zimbabwe's ICT Ministry faces severe financial crisis
The Information Communication Technology (ICT) ministry is grappling with a critical financial crisis due to a significant shortfall in its budget allocations, hindering its ability to effectively con...Published: 17 Oct 2024 at 09:01hrs | 177 | by Staff reporter
CCC MPs demand Mnangagwa action as ZiG devalues
Opposition Members of Parliament (MPs) have expressed frustration over the continued devaluation of Zimbabwe's local currency, the Zimbabwe Gold (ZWG), urging the government to address the nation's lo...Published: 03 Oct 2024 at 16:25hrs | 958 | by Staff reporter
Dynamos house in a mess again
Premiership giants Dynamos Football Club find themselves in turmoil once again, following the suspension of assistant coach Murape Murape, sporting director Richard Chihoro, and team physiotherapist A...Published: 29 Sep 2024 at 11:11hrs | 152 | by Staff reporter
Dynamos in turmoil
Dynamos are in turmoil as their players' strike continues into its third day, jeopardizing preparations for their upcoming Castle Lager Premier Soccer League match against Highlanders at Rufaro Stadiu...Published: 07 Jul 2024 at 10:15hrs | 8 | by Staff reporter
The Zimbabwe currency crisis as seen from abroad!
AS we go to press, US financial news media has become aware of the Zimbabwe financial crisis.Bloomberg news agency and the Financial Times have reported authoritatively on the events surroundi...Published: 07 Apr 2024 at 10:25hrs | 7 | by Kenneth Mafuka
Nelson Chamisa's CCC resignation
ON 25 January 2024, Zimbabwean opposition Citizens' Coalition for Change (CCC) president Nelson Chamisa quit.Looking through the dancing ropes, it is more like a boxing match. Remember when Mi...Published: 12 Feb 2024 at 13:52hrs | 2 | by Vivid Gwede
Kasukuwere says Zimbabwean economy is headed for a massive crash
Former cabinet Minister Saviour Kasukuwere has issued a stark warning that the Zimbabwean economy is on the brink of a severe collapse, attributing it to what he perceives as President Emmerson Mnanga...Published: 21 Sep 2023 at 15:44hrs | 2 | by Staff reporter
Harare City Council in financial squeeze
The Harare City Council (HCC) is grappling with a severe financial crisis, resulting in delayed salary payments for the first time in many years. In response to this crisis, Town Clerk Hosea Chisango ...Published: 21 Sep 2023 at 06:15hrs | 4 | by Staff reporter
Chivayo calls Biti a 'foolish guy'
Controversial businessman Wicknell Chivayo has lashed out at former Finance Minister Tendai Biti saying he is a "foolish guy" and accused him of sending Zimbabwe into hyperinflation during the governm...Published: 19 Sep 2023 at 20:45hrs | 1 | by Staff reporter
Zimbabwe nearing a fully-fledged family dynasty!
Last week, a reporter with a national daily newspaper phoned for my opinion on how I believed the country's new Cabinet should be constituted.This was after the recently-held hotly disputed ha...Published: 12 Sep 2023 at 14:11hrs | 4 | by Tendai Ruben Mbofana
Malema urges BRICS leaders to boycott upcoming summit in solidarity with Putin
EFF leader Julius Malema has urged prime ministers from the BRICS nations not to attend the upcoming summit in South Africa in solidarity with Russian President Vladimir Putin.Malema was addre...Published: 29 Jul 2023 at 19:54hrs | 15 | by Staff reporter
Consider paying Zimbabwe civil servants in gold coins'
Government has been urged to explore the feasibility of paying a portion of civil servants' salaries in gold-backed digital tokens and gold coins.The tokens have proven to be effective in mopp...Published: 12 Jul 2023 at 08:15hrs | | by Staff reporter
Zimbabwe is heading towards economic armageddon, says America's Steve Hanke
Steve Hanke, a Professor of Applied Economics at The Johns Hopkins University in Baltimore, USA, has predicted a catastrophic downfall of the Zimbabwean economy describing its trajectory as "heading t...Published: 13 Jun 2023 at 14:29hrs | 2 | by Staff reporter
Telecel employees declare incapacitation
TELECEL Zimbabwe employees have declared incapacitation, citing the country's deteriorating economic situation which has seen them failing to afford transport fares to and from work.Speaking o...Published: 12 Jun 2023 at 06:30hrs | 1 | by Staff reporter
Are investors in African equities poised for wins amidst global turmoil?
It has been a tumultuous first quarter of 2023, and African equities have not been spared.Global markets started the year on a very positive note, with the S&P 500 up 9.0% at its peak in e...Published: 12 May 2023 at 11:17hrs | 17 | by Rami Hajjar, portfolio manager of the Allan Gray Africa ex-SA Equity Fund
No arrests on AKA murder yet
Still no arrests in AKA murder investigation but ‘there is progress' says South Africa police minister, Bheki CelePolice Minister Cele, says significant progress has been made into the murde...Published: 06 Mar 2023 at 05:11hrs | 1 | by Staff reporter
Fearless editor who first exposed the Gukurahundi killings
While there were a few local Zimbabwean journalists writing for periodicals and foreign correspondents like Peter Godwin for the Sunday Times (UK) and some filing for...Published: 04 Feb 2023 at 20:11hrs | 15 | by Stephen Bates
CIO spooks on the prowl
A LEAKED Central Intelligence Organisation (CIO) report on the dire situation at privately-owned publishing house Alpha Media Holdings (AMH) exposes the rot at the company, accentuated by spooky manoe...Published: 22 Jan 2023 at 13:19hrs | 8 | by Staff reporter
CIO spooks on the prowl at Trevor Ncube's AMH?
A LEAKED Central Intelligence Organisation (CIO) report on the dire situation at privately-owned publishing house Alpha Media Holdings (AMH) exposes the rot at the company, accentuated by spooky manoe...Published: 21 Jan 2023 at 09:42hrs | 3 | by Staff reporter
Malunga rebukes Zanu-PF leaders
Jenaguru Arts Centre founder and veteran musician Clive Malunga has once again rebuked Zanu-PF leaders for being corrupt while spreading propaganda that the country is in a mess because of sanctions....Published: 08 Jan 2023 at 09:40hrs | 5 | by Staff reporter
South Africa plans to end most special permits for foreigners
South Africa plans to end most special permits for foreigners as it revamps its immigration policies to manage an influx of economic migrants.The government announced that a special dispensati...Published: 26 Aug 2022 at 20:48hrs | 2 | by Staff reporter
'Chamisa could defeat the unreformed Mnangagwa'
ZIMBABWE has been reeling under a multifaceted economic and political crisis since 2000, and it appears there is no end in sight. Amid chronic high inflation, Zimbabwe is confronted with a crucial gen...Published: 12 Jul 2022 at 18:17hrs | 4 | by Staff reporter
Gold coins to be sold in Zimdollars
THE Reserve Bank of Zimbabwe (RBZ) says its planned gold coins, to be introduced as an alternative investment option and inflation hedge on July 25, will be traded in both Zimbabwe dollars and foreign...Published: 05 Jul 2022 at 07:03hrs | | by Staff reporter
CAPS Utd to replace Chitembwe
AILING Castle Lager Premiership football giants CAPS United have identified Bulawayo Chiefs assistant coach Thulani Sibanda as a possible replacement to Lloyd Chitembwe should the latter fail to redee...Published: 29 Jun 2022 at 07:42hrs | 11 | by Staff reporter
Teachers union says joining doctors and nurses on strike
Doctors, nurses and teachers across Zimbabwe went on strike Monday, as the country's latest financial crisis has left their salaries almost worthless.Nurses earn 18,000 Zimbabwe dollars per mo...Published: 20 Jun 2022 at 18:56hrs | 7 | by Staff reporter
Zimsec, markers in fresh row
THE Zimbabwe School Examinations Council (Zimsec) and script markers are heading for a fresh collision as the latter complain that the value of their payouts has been eroded by inflation.Zimse...Published: 13 Jun 2022 at 06:45hrs | 8 | by Staff reporter
Zimsec yet to pay O, A-level markers
THE Zimbabwe Schools Examination Council (Zimsec) is yet to pay some examiners who marked the 2021 Ordinary and Advanced Level examinations, almost seven months after completing the exercise.E...Published: 16 May 2022 at 06:24hrs | 1 | by Staff reporter
Legislators letting citizens down
IT is now clear that Zimbabwe's parliamentarians are not playing their role of fixing the mess in our country's financial sector. The Zimbabwean government has introduced several statutory instruments...Published: 13 May 2022 at 19:04hrs | 2 | by Engineer Jacob Kudzayi Mutisi
Parliamentarians letting the citizens down
It is now clear that Zimbabwe's MPs or parliamentarians are not playing their role to fix the mess that our country's economic financial service is in. The Zimbabwean government has had Statutory Inst...Published: 12 May 2022 at 09:45hrs | 14 | by Engineer Jacob Kudzayi Mutisi
RBZ initiates think tank to assess banking products
THE Reserve Bank of Zimbabwe (RBZ) has created a think tank to examine new banking products and innovations prior to their launch, to assess their viability.The revelation came a day after the...Published: 25 Apr 2022 at 09:01hrs | 4 | 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
Russia's rouble comes roaring back
The rouble has surged all the way back to where it was before Russia invaded Ukraine, closing at 79,7 in Moscow on Wednesday.In the days after the Ukraine war began, the rouble's collapse was ...Published: 08 Apr 2022 at 06:40hrs | 1 | by Staff reporter
Trevor Ncube says was ‘wrong' to back Mnangagwa, renews Chamisa criticism
Alpha Media Holdings (AMH) owner Trevor Ncube has admitted he was "wrong" to assume President Emmerson Mnangagwa would govern better than Robert Mugabe.Ncube, one of Mnangagwa's biggest cheerl...Published: 30 Mar 2022 at 11:49hrs | 1 | by Staff reporter
Western hegemony is nearing its end!
This article is reproduced from the public account: Guo Rong (ID: xuu5336)Recently, at an internal meeting, a certain President made a general analysis of the current international situation. ...Published: 11 Mar 2022 at 06:13hrs | 1 | by President
George Soros' rant, anti-Chinese movement in Zimbabwe
ON January 31, 2022, the founder of "Open Society Foundations", George Soros, who is a billionaire "political philanthropist", made a revealing statement about China that should shine a light on recen...Published: 20 Feb 2022 at 08:47hrs | | by Kuda Bwititi
RBZ tells banks to shape up or ship out
BANKING sector experts have thrown their weight behind the Reserve Bank of Zimbabwe (RBZ)'s move to tighten screws on operators that fail to comply with new minimum capital requirements, which came in...Published: 18 Feb 2022 at 05:34hrs | 1 | by Staff reporter
Honeymoon over for Zambian leader
Almost six months after the high expectations created by his historic landslide victory over Edgar Lungu and his promises of fundamental reform, Zambian President Hakainde Hichilema's halo has begun s...Published: 18 Feb 2022 at 05:30hrs | 1 | by Staff reporter
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