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Zanu-PF pushes for accelerated de-dolarisation
The ruling Zanu-PF party has resolved to accelerate Zimbabwe's de-dollarisation process and strengthen the Zimbabwe Gold Currency (ZiG) as the country's sole legal tender. This decision was among key ...Published: 29 Oct 2024 at 13:50hrs | 3916 | by Staff reporter
Devaluation fails to halt ZiG free-fall
Zimbabwe's new local currency, the Zimbabwe Gold (ZiG), has taken another hit, losing an additional 11% of its value in under a month following a substantial 43% "devaluation" announced by monetary au...Published: 29 Oct 2024 at 13:49hrs | 4487 | by Staff reporter
Choppies mulls Zimbabwe exit
Botswana-based retailer Choppies Enterprise Limited is contemplating a withdrawal from the Zimbabwean market, citing significant financial pressure stemming from the instability of the newly introduce...Published: 29 Oct 2024 at 07:44hrs | 6729 | by Staff reporter
Zanu-PF directs its govt to provide free healthcare, pay BEAM
The Zanu-PF party has issued a directive for the Government to provide free healthcare services to elderly citizens, minors, and individuals with disabilities, as well as establish mobile healthcare f...Published: 28 Oct 2024 at 06:57hrs | 151 | by Staff reporter
IMF cautions Zimbabwe
ZIMBABWE won't solve its economic challenges via the gold-backed ZiG currency that it launched in April and has since had to devalue, the International Monetary Fund said."There's a tendency t...Published: 27 Oct 2024 at 12:30hrs | 4002 | 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 | 259 | by Staff reporter
'Projected Trump victory driving demand for dollars'
Increasing belief on the financial markets that Donald Trump will win the US presidential election next month has been strengthening the dollar, Bloomberg has reported, citing British multinational ba...Published: 25 Oct 2024 at 13:45hrs | 561 | by Staff reporter
'ZiG must go'
The Zimbabwe Gold (ZiG) currency is facing mounting pressure from the business community, which is advocating for its removal due to increasing volatility, despite the Reserve Bank of Zimbabwe's (RBZ)...Published: 24 Oct 2024 at 08:02hrs | 2159 | by Staff reporter
Is Zimbabwe about to create land oligarchs?
The government, through Information minister Jenfran Muswere, has announced a significant shift in land policy, declaring that state land, previously offered to local indigenous people under the "land...Published: 21 Oct 2024 at 11:06hrs | 693 | by Admire Maparadza Dube
SA constitution serves the elite and the neoliberal agenda
The MK Party has called for the scrapping of South Africa's constitution, claiming it serves the elite and the neoliberal agenda. The party, led by former president Jacob Zuma who was in the A...Published: 19 Oct 2024 at 19:59hrs | 249 | by Staff reporter
Selling fuel in Zimbabwe's local currency will stabilising the ZiG
In a pivotal announcement, Zimbabwe's Finance Minister Mthuli Ncube declared that all taxes and fees should now be paid in the Zimbabwe Gold (ZiG) currency. This move is part of a broader strategy to ...Published: 17 Oct 2024 at 16:44hrs | 3240 | by Engineer Jacob Kudzayi Mutisi
Selling Fuel in Zimbabwe's Local Currency will Stabilising the ZiG
In a pivotal announcement, Zimbabwe's Finance Minister Mthuli Ncube declared that all taxes and fees should now be paid in the Zimbabwe Gold (ZiG) currency. This move is part of a broader strategy to ...Published: 17 Oct 2024 at 12:32hrs | 6181 | by Engineer Jacob Kudzayi Mutisi
Taxes, fees to be paid in ZiG
The Zimbabwean Treasury is set to implement new measures requiring most taxes and fees to be paid exclusively in the Zimbabwe Gold (ZiG) currency, a move aimed at increasing demand and stabilizing its...Published: 17 Oct 2024 at 09:05hrs | 2509 | by Staff reporter
Tito Mboweni dies
PRESIDENT Cyril Ramaphosa has expressed he was deeply saddened by the death of former Governor of the South African Reserve Bank and Labour and Finance Minister Dr Tito Mboweni.He died on Satu...Published: 13 Oct 2024 at 12:31hrs | 568 | by Staff reporter
Bosso fans plan Bulawayo city council rates 'boycott'?
Highlanders Football Club fans are considering a boycott of their remaining Castle Lager Premier Soccer League (PSL) matches at Barbourfields Stadium and halting payment of Bulawayo City Council rates...Published: 13 Oct 2024 at 12:23hrs | 689 | by Staff reporter
Mnangagwa, central bank deliver damp squibs
President Emmerson Mnangagwa's recent State of the Nation Address (Sona) has come under heavy criticism from leading economists, who say it lacked concrete solutions to arrest the nation's spiraling e...Published: 11 Oct 2024 at 18:33hrs | 1319 | by Staff reporter
Zimbabwe says basic goods in limited supply after ZiG devaluation
Zimbabwe said the steep devaluation of its gold-backed currency last month has triggered shortages of bread, sugar and other staples in its formally regulated stores, suggesting the country's latest e...Published: 09 Oct 2024 at 16:38hrs | 3276 | by Staff reporter
Mnangagwa govt warns errant businesses
Finance, Economic Development, and Investment Promotion Minister, Professor Mthuli Ncube, has issued a stern warning to unscrupulous business operators seeking to exploit the exchange rate for persona...Published: 05 Oct 2024 at 17:25hrs | 3436 | by Staff reporter
MPs demand explanation from Mthuli Ncube
WEDZA North MP Itai Ndudzo has formally demanded that Finance Minister Mthuli Ncube provide a ministerial statement addressing the recent devaluation of Zimbabwe's new gold-backed currency, the Zimbab...Published: 02 Oct 2024 at 07:57hrs | 1240 | by Staff reporter
Zimbabwe retailers rejects forced de-dollarisation
Zimbabwean retailers have issued a stark warning to the government regarding the potential consequences of de-dollarising the economy, cautioning that such a move could have catastrophic effects. This...Published: 02 Oct 2024 at 07:55hrs | 728 | by Staff reporter
Bulawayo pegs 2025 budget at US$309m
The Bulawayo City Council (BCC) has unveiled a proposed budget of US$309 million for 2025, marking a 17% increase from the US$264 million budget for 2024. The proposal, presented by the Finance and De...Published: 30 Sep 2024 at 07:44hrs | 104 | by Staff reporter
'Mnangagwa's milestones shake Zimbabwe's political landscape'
President Emmerson Mnangagwa's transformative economic strategies and significant achievements have caused disarray within the opposition, pushing them toward early political retirement, according to ...Published: 30 Sep 2024 at 07:29hrs | 883 | by Staff reporter
Zimbabwe's government: The biggest threat to its own currency
The Reserve Bank of Zimbabwe's (RBZ) recent decision to devalue the Zimbabwean Gold (ZiG) by 50% has left the nation reeling. Overnight, the currency's value plummeted from 14 to 23.4 against ...Published: 29 Sep 2024 at 15:25hrs | 3363 | by Tendai Ruben Mbofana
Mayor Coltart criticises ZiG, after sharp devaluation
On Friday, Bulawayo's Mayor, David Coltart, took to Twitter to express his concern over the sudden devaluation of Zimbabwe's newly introduced currency, th...Published: 28 Sep 2024 at 06:48hrs | 2052 | by Staff Reporter
World Bank says Zimbabwe needs economic stability to advance debt talks
Zimbabwe needs an uninterrupted period of macroeconomic stability of at least 12 months to help advance debt talks with international creditors over $21 billion it owes, the World Bank said.Ha...Published: 17 Sep 2024 at 06:52hrs | 408 | by Staff reporter
Can Zimbabwe ZiG-zag away from the USD?
ZIMBABWE'S economy has suffered immensely since 2008, when inflation exceeded a million percent.Since then, the government has made six attempts to adopt a local currency, with the latest comi...Published: 13 Sep 2024 at 16:04hrs | 2768 | by Nkosi Moyo
Mnangagwa's govt blows unbudgeted US$16m
The government incurred significant unbudgeted expenditures earlier this year by providing twin-cab vehicles to chiefs, a move that has placed their parent ministry in a financial deficit, Finance Min...Published: 13 Sep 2024 at 08:12hrs | 1913 | by Staff reporter
PPC Zimbabwe remits US$11,3m dividend to PPC SA
PPC Zimbabwe remitted R203 million (US$11.3 million) in dividends to its South African parent after a strong performance in the fiscal year ending March 31, 2024. The company's CEO, Matias Ca...Published: 11 Sep 2024 at 08:37hrs | 98 | by Staff reporter
Zimbabwe must be bold in FDI drive
Finance, Economic Development, and Investment Promotion Permanent Secretary George Guvamatanga has disclosed that the government has been inundated with demands from prospective investors seeking Zimb...Published: 09 Sep 2024 at 08:24hrs | 100 | by Staff reporter
Zanu-PF Politburo members are superior to ministers
Lovemore Matuke, Minister of Presidential Affairs in the Office of the President and Cabinet, has emphasized the superiority of Zanu-PF Politburo members over government ministers, their deputies...Published: 08 Sep 2024 at 09:48hrs | 273 | by Staff reporter
ZiG registers gradual growth in transactions
Zimbabwe has seen significant growth in the use of the Zimbabwe Gold (ZiG) currency in domestic transactions since its introduction in April 2024. According to Finance, Economic Development, a...Published: 22 Aug 2024 at 07:04hrs | 159 | by Staff reporter
Ramaphosa's political authority crumbles under DA and coalition pressure
In South Africa's evolving political arena, the Democratic Alliance (DA) is increasingly challenging the African National Congress (ANC) with newfound vigour, placing President Cyril Ramaphosa's leade...Published: 16 Aug 2024 at 09:06hrs | 1732 | by Michael Andisile Mayalo
Rampant fraud on fuel in transit worries Mthuli Ncube
Finance Minister Mthuli Ncube has proposed a temporary import duty on fuel in transit to other countries to address ongoing issues with transit fraud. In his mid-term budget statement to parli...Published: 26 Jul 2024 at 16:01hrs | 3095 | by Staff reporter
Mthuli Ncube backs down on taxes
The Zimbabwean government has removed value-added tax (VAT) from selected meat products, reduced presumptive taxes for informal traders, and mandated that all government service fees be paid in local ...Published: 26 Jul 2024 at 06:39hrs | 1592 | by Staff reporter
Mthuli Ncube makes bold measures to anchor ZiG stability
The Government has introduced measures to enhance the stability of the Zimbabwe Gold (ZiG) currency, promote its use, and provide tax relief to boost consumer spending and production. In the Mid-Term ...Published: 26 Jul 2024 at 06:32hrs | 364 | by Staff reporter
Major facelift for Chirundu border post
The Chirundu one-stop border post is set for a significant upgrade and modernization through a public-private partnership between the Government of Zimbabwe and the Chirundu Border Consortium, valued ...Published: 24 Jul 2024 at 09:00hrs | 172 | by Staff reporter
NetOne's going concern status at risk
NetOne Private Limited, a telecommunications company in Zimbabwe, has been identified as technically insolvent and at risk of being unable to sustain its operations, according to a recent report. Rele...Published: 17 Jul 2024 at 06:51hrs | 626 | by Staff reporter
Zimbabwe govt bolsters oversight of devolution funds
The Zimbabwean government has intensified its oversight of devolution fund usage by metropolitan councils and local authorities to address widespread financial mismanagement. The newly launched Zimbab...Published: 15 Jul 2024 at 16:41hrs | 169 | by Staff reporter
Zimbabwe launches corruption bait manual for cartels
In its quest to lure cartels into spreading their looting operation spree on devolution resources (funds), the Zimbabwean government on Wednesday launched an intergovernmental fiscal transfers system ...Published: 11 Jul 2024 at 14:29hrs | 45 | by Gideon Madzikatidze/Simbarashe Sithole
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 | 61 | by Nick Mangwana
Harare councillors distanced themselves from vehicle scandal
Harare City Council (HCC) councillors have distanced themselves from the purchase of luxury vehicles for city managers, amounting to over US$500,000. The decision has sparked controversy amidst widesp...Published: 09 Jul 2024 at 05:55hrs | 3 | by Staff reporter
Tongaat Hullets slams Zimbabwe's tough fiscal measures
Tongaat Hullets, a listed agriculture and agri-processing firm, has reported on its performance for the period ending March 31, 2024, amidst challenging fiscal measures in Zimbabwe. The compan...Published: 04 Jul 2024 at 10:29hrs | | by Staff reporter
ZiG helps maintain price stability in Zimbabwe
The price of basic commodities in Zimbabwe has remained stable in both ZiG and US dollar terms, with the local currency slightly appreciating against the US dollar due to government fiscal and monetar...Published: 03 Jul 2024 at 10:25hrs | 3 | by Staff reporter
Mnangagwa fires Guvamatanga, then changes mind
President Emmerson Mnangagwa sacked finance secretary George Guvamatanga last week but then had a change of heart after he made a groveling apology, and following further representations by chief cabi...Published: 01 Jul 2024 at 10:56hrs | 9 | by Staff reporter
IMF says Zimbabwe's economy continues to show resilience
In light of new policy developments, an International Monetary Fund (IMF) staff team led by Mr. Wojciech Maliszewski conducted a second mission to Harare during June 18-27, 2024, to conclude the 2024 ...Published: 28 Jun 2024 at 13:01hrs | 4 | by Staff reporter
Ingwebu seeks bill payment holiday
Ingwebu Breweries, owned by Bulawayo City Council, has requested an exemption from paying its water bill, which has accumulated to over US$400,000. This request was detailed in the latest council minu...Published: 24 Jun 2024 at 06:55hrs | 4 | by Staff reporter
Mthuli Ncube authorises 50-50 currency split for tax payment
The Zimbabwean Treasury has authorized companies to pay their Second Quarter Corporate Income Tax obligations in both local currency (ZiG) and foreign currency on a 50:50 basis. This decision is part ...Published: 20 Jun 2024 at 07:22hrs | 4 | by Staff reporter
Zimbabwe economy stabilising after ZiG introduction
The Zimbabwean economy has shown relative stability in recent months following the Reserve Bank Governor's Monetary Policy statement on April 5, 2024, and the transition from the Zimbabwe Dollar to Zi...Published: 20 Jun 2024 at 07:14hrs | 14 | by Staff reporter
White-led DA party seal South Africa unity pact with ANC
The African National Congress and its largest rival, the white-led, pro-business Democratic Alliance, agreed on Friday to work together in South Africa's new government of national unity, a step chang...Published: 15 Jun 2024 at 13:32hrs | 2 | by Staff reporter
Zimbabwe rated Africa's most expensive economy
Zimbabwe was recently identified as Africa's most expensive country according to a comprehensive study by the African Development Bank (AfDB). The study assessed power purchasing parities (PPPs) and e...Published: 15 Jun 2024 at 11:13hrs | 59 | by Staff reporter
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