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Impact of COVID 19 on Zimbabwean Economy
The outbreak of the novel Corona Virus (COVID-19) poses a significant threat to the world economy and to Zimbabwe's fragile economy too. So far the virus has infected close to 470 000 people from 200 ...Published: 28 Mar 2020 at 10:08hrs | 790 | by Victor Bhoroma
Zanu-PF benefactor in murky Zupco bus deal
PRESIDENT Emmerson Mnangagwa's advisor and Sakunda Holdings boss Kuda Tagwirei, whose tentacles stretch across a vast spectrum of the economy, has been acquiring buses for Zupco's public transportatio...Published: 28 Mar 2020 at 08:10hrs | 4682 | by Staff reporter
Zimbabwe businesses welcome US$ relaxation
The black market exchange rate for the United States dollar is likely to fall following the relaxation of the usage of free funds by the Reserve Bank of Zimbabwe (RBZ) on Thursday. Business le...Published: 28 Mar 2020 at 07:35hrs | 411 | by Staff reporter
South Africa's lockdown may push Zimbabwe to the edge
As South Africa's 21-day national lockdown comes into effect, the ramifications of this decision will be felt strongly across the Southern African region, most acutely by its northern neighbour, Zimba...Published: 27 Mar 2020 at 16:09hrs | 5025 | by Webster Zambara
Business as usual as Covid wreaks havoc
Hundreds of thousands of people in the five southern provinces of Zimbabwe continue to do business as usual including gathering in overcrowded places, selling food in the streets, hugging and clubbing...Published: 27 Mar 2020 at 12:26hrs | 1358 | by Staff reporter
US dollar unbanned in Zimbabwe
THE Reserve Bank of Zimbabwe (RBZ) yesterday suspended its ban on use of foreign currency in carrying out internal transactions and abandoned the managed floating exchange rate as a measure to facilit...Published: 27 Mar 2020 at 06:45hrs | 2813 | by Staff reporter
War vets support 'fungibility' ban
The Zimbabwe National Liberation War Veterans Association (ZNLWVA) has dismissed a story in a local weekly newspaper headlined "Fungibility shares ban unlawful", as an act of intimidation towards Gove...Published: 27 Mar 2020 at 06:35hrs | 521 | by Staff reporter
Trade freely in forex, says RBZ
THE Reserve Bank of Zimbabwe (RBZ) has given consumers and businesses greenlight to trade in foreign currency and suspended, until further notice, any increase in charges related to the provision of e...Published: 27 Mar 2020 at 06:31hrs | 1312 | by Staff reporter
High Court orders Zera to suspend licensing fees hike
The High Court has ordered the Zimbabwe Energy Regulatory Authority (Zera) to suspend its new licensing requirements for fuel companies after a successful challenge by indigenous firms, it has emerged...Published: 25 Mar 2020 at 08:40hrs | 923 | by Staff reporter
Achieving an efficient interbank market
The Zimbabwean government announced that it was going to introduce a managed floating exchange rate system in order to manage exchange rate volatility. The move is also aimed at bringing transparency ...Published: 24 Mar 2020 at 18:32hrs | 1129 | by Victor Bhoroma
ZORORO MAKAMBA's case: Doctors and hospitals tell patients: Show us the money before treatment
Doctors and hospitals are increasingly asking patients to pay up front for treatment regardless of the condition of the patient. Considering the state of our hospitals the ministry of Health must do m...Published: 24 Mar 2020 at 14:21hrs | 4132 | by Dr Masimba Mavaza
Achieving an efficient interbank market
The Zimbabwean government announced that it was going to introduce a managed floating exchange rate system in order to manage exchange rate volatility. The move is also aimed at bringing transparency ...Published: 24 Mar 2020 at 11:58hrs | 914 | by Victor Bhoroma
Zimbabwe among world's unhappiest countries
ZIMBABWEANS are among the world's saddest people with the recent annual United Nations world happiness report ranking the country in the top five of the world's unhappiest countries.The southe...Published: 23 Mar 2020 at 13:30hrs | 2875 | by Staff reporter
Zimbabwe Space dream edges closer
ZIMBABWE has taken another step towards realisation of a vision to launch its satellites into space after finalising a $25 million agreement to upgrade the TelOne Satellite Centre in Mazowe and improv...Published: 23 Mar 2020 at 05:28hrs | 144 | by Staff reporter
Jobs bloodbath hits Zimbabwe firms
A staggering 210,333 jobs were made redundant in 2019 as local companies threw workers onto the streets in response to the realities of a debilitating liquidity crunch, low productivity, punitive real...Published: 21 Mar 2020 at 06:21hrs | 3049 | by Staff reporter
IMF team returns to Zimbabwe
An International Monetary Fund (IMF) team will be in Zimbabwe next month for discussions on the second phase of the supervised economic reform plan after Harare missed targets it had set in the inaugu...Published: 21 Mar 2020 at 06:20hrs | 856 | by Staff reporter
$579 290 'fraudster' arrested
A Bulawayo man allegedly conned three people of nearly $600 000 on separate occasions after he claimed he could source United States dollars for them at affordable rates. Batsirai Ganyau...Published: 21 Mar 2020 at 05:50hrs | 812 | by Staff reporter
RBZ in fuel forex abuse storm
PARLIAMENT is investigating the Reserve Bank of Zimbabwe (RBZ)'s weekly foreign currency allocations to fuel importers amid revelations that foreign companies and some retailers who do not import the ...Published: 20 Mar 2020 at 20:42hrs | 3233 | by Staff reporter
Smuggling cartels cost Zimbabwe US$1bn
THE Zimbabwe Revenue Authority (Zimra) is studying an explosive dossier compiled by a regional anti-corruption institution detailing how the tax collector could have been prejudiced an estimated US$1 ...Published: 20 Mar 2020 at 20:42hrs | 1013 | by Staff reporter
5 armed robbers killed in shoot-out
FIVE armed robbers accused of robbing two Harare businessmen - Messrs Tawanda Nyambirai and Rodney Dangarembizi - of over US$220 000, were yesterday killed in a shoot-out with detectives. Two ...Published: 20 Mar 2020 at 20:36hrs | 428 | by Staff reporter
Armed robbers killed in shoot-out with
FIVE armed robbers accused of robbing two Harare businessmen - Messrs Tawanda Nyambirai and Rodney Dangarembizi - of over US$220 000, were yesterday killed in a shoot-out with detectives.Two o...Published: 20 Mar 2020 at 17:42hrs | 1985 | by Staff Reporter
Fuel players challenge licence fees hike
THE Indigenous Petroleum Association of Zimbabwe (Ipaz) has filed an urgent chamber application at the High Court seeking to interdict the Zimbabwe Energy Regulatory Authority (Zera) from effecting th...Published: 19 Mar 2020 at 06:34hrs | 1338 | by Staff reporter
How coronavirus has hurt Zimbabwe's ailing economy
PRESIDENT Emmerson Mnangagwa finally declared the coronavirus (COVID-19) a national disaster on Tuesday.On Monday, a day before Mnangagwa's declaration, the Health ministry revealed that a Uni...Published: 19 Mar 2020 at 06:30hrs | 1291 | by Staff reporter
Bulawayo roads a 'state of disaster'
BULAWAYO'S roads are deteriorating at an alarming pace due to lack of maintenance, with council saying it cannot raise the required US$700 million to rehabilitate the city's 2 100km road network. ...Published: 19 Mar 2020 at 06:19hrs | 688 | by Staff reporter
Zimbabwe exports 50,000 tonnes of tobacco
Zimbabwe has exported close to 50 000 tonnes of tobacco to different parts of the world since the beginning of the year, latest data from the Tobacco Industry and Marketing Board (TIMB) shows. ...Published: 19 Mar 2020 at 06:14hrs | 366 | by Staff reporter
Bulawayo clamps down on forex dealers
Police in Bulawayo have launched a blitz against illegal foreign currency dealers operating in the environs of the Tredgold Magistrate's Court.Police said 150 dealers, known locally as 'osipha...Published: 18 Mar 2020 at 18:02hrs | 3446 | by Staff reporter
Zim$ depreciates 27.28% as Reuters goes live
The Reuters foreign currency trading platform went live today, marking Zimbabwe's long-delayed step towards a transparent and effective foreign exchange trading platform.This also comes as Bur...Published: 18 Mar 2020 at 16:50hrs | 5599 | by Staff reporter
Zimbabwe registers US$52,8m trade surplus against South Africa
ZIMBABWE recorded a US$52,8 million trade surplus against South Africa, its major trading partner, after exporting goods worth US$218,4 million to the neighbouring country in the month of January 2020...Published: 18 Mar 2020 at 06:43hrs | 817 | by Staff reporter
150 illegal forex dealers arrested
POLICE in Bulawayo have arrested more than 150 illegal forex dealers in a blitz aimed at restoring sanity in the CBD including the area surrounding Tredgold Buildings which has been dubbed the "World ...Published: 18 Mar 2020 at 06:36hrs | 1607 | by Staff reporter
Zimbabwe received US$980m forex inflows in 2 months
ZIMBABWE received US$980 million in foreign currency inflows between January and February 2020 but this could not diffuse spiralling exchange rates due to lack of an efficient model of distributing fo...Published: 18 Mar 2020 at 06:34hrs | 575 | by Staff reporter
Zimbabwe shuts down main source of hard currency
Zimbabwe has suspended the transfer of local shares in dual-listed companies to foreign bourses, one of the main ways citizens and businesses have been able to obtain dollars as inflation wipes out th...Published: 17 Mar 2020 at 14:11hrs | 8703 | by Reuters
British tourist to Zimbabwe tested for the coronavirus in Victoria Falls
A British tourist to Zimbabwe tested for the coronavirus in Victoria Falls last week, whose results initially indicated a reaction to malaria medication, was diagnosed positive upon returning home ove...Published: 17 Mar 2020 at 13:11hrs | 1097 | by Staff reporter
Bulawayo's illegal forex traders remain defiant
IT was business as usual yesterday for illegal foreign currency dealers outside Tredgold Buildings in Bulawayo and other parts of the CBD, as police said a major operation against osiphatheleni was on...Published: 17 Mar 2020 at 06:30hrs | 3233 | by Staff reporter
Police losing the battle against Osiphatheleni?
THE mushrooming of illegal forex dealers in Bulawayo has left many residents wondering if the police and the Bulawayo City Council have given up on restoring sanity in the city. Chief Justice ...Published: 17 Mar 2020 at 06:29hrs | 574 | by Staff reporter
Bakers send SOS to Government
The Bakers Association of Zimbabwe (BAZ )wants the Government to extend the period it granted them to import flour and to contract farmers to grow more wheat this winter season to boost local supplies...Published: 17 Mar 2020 at 06:28hrs | 401 | by Staff reporter
Sakunda Holdings scoffs at state capture claims
SAKUNDA Holdings yesterday denied capturing government, insisting the Command Agriculture deal was approved by Cabinet and that the company was allocated US$1,010 billion by the Reserve Bank of Zimbab...Published: 17 Mar 2020 at 06:21hrs | 599 | by Staff reporter
Zimbabwe yet to feel economic impact of coronavirus
RESERVE Bank of Zimbabwe (RBZ) governor John Mangudya, pictured, says the country is yet to experience any negative consequences on the economy due to the effects of the deadly coronavirus.Thi...Published: 16 Mar 2020 at 17:26hrs | 435 | by Staff reporter
Sakunda Holdings provides evidence for Command Agric funding
Fuel and agriculture giant Sakunda Holdings has provided oral evidence in Parliament for the Command Agriculture project funding, in the process quashing talk that it had abused public funds. ...Published: 16 Mar 2020 at 15:23hrs | 1232 | by Simbarashe Mwandipendaa
Dual Monetary Economy: Organized Chaos
Despite the visible momentum towards full re-dollarization and apparent depreciation of the Zimbabwean Dollar, the Reserve Bank of Zimbabwe (RBZ) declared that de-dollarization is well on course. The ...Published: 16 Mar 2020 at 11:11hrs | 2723 | by Victor Bhoroma
ZCTU questions liberalisation of currency exchange
Zimbabwe Congress of Trade Unions secretary-general Japhet Moyo has questioned the rationale in the Reserve Bank of Zimbabwe's move to liberalise the country's foreign currency market."Confide...Published: 16 Mar 2020 at 07:28hrs | 1531 | by Stephen Jakes
Current ZIFA an embarrassment to the nation - MP
A Legislator Peter Moyo has slammed the Zimbabwe Football Association for being an embarrassment to the nation at the same time calling for its audit.Moyo made the remarks in parliament....Published: 16 Mar 2020 at 07:26hrs | 1219 | by Steve Grays
lllegitimate Regime's corrupt forex allocation, and policy inconsistencies responsible for perpetual fuel problems
The Movement for Democratic Change (MDC) has said it is increasingly concerned by the never-ending propensity by the ZANU(PF) regime for corrupt tendencies in foreign currency allocations; as well as ...Published: 16 Mar 2020 at 07:17hrs | 329 | by Stephen Jakes
Zera in major climb down
Zera has buckled under pressure from indigenous petroleum companies and withdrawn an earlier announcement of a hike in fuel procurement licences by 8 600%. After a two-month wait, Zera announc...Published: 16 Mar 2020 at 07:04hrs | 1543 | by Staff reporter
Kombis charge fares in US dollars
Commuter omnibus operators plying the Chitungwiza to Harare route have started quoting fares in United States dollars, purportedly to raise cash to buy fuel, which is now readily available at service ...Published: 16 Mar 2020 at 06:52hrs | 1809 | by Staff reporter
Indonesian investor keen on Chiyangwa's Zeco
BULAWAYO-based engineering firm, Zeco Engineering, is in talks with an Indonesian investor, Inka Limited, over a strategic deal that will see the country's sole rail wagons manufacturer resuming produ...Published: 16 Mar 2020 at 05:52hrs | 387 | by Staff reporter
Zimbabwe urged to adopt a dual currency
AFRICAN Economic Development Strategies (AEDS) has urged government to adopt for a dual currency - where the Zimbabwean dollar and the US dollar are used as the main currency.Presenting the St...Published: 15 Mar 2020 at 17:45hrs | 4805 | by Staff reporter
Chamisa backs 'imminent' ZCTU protests
THE opposition MDC has joined forces the Zimbabwe Congress of Trade Unions (ZCTU) banner to push for salaries in United States dollars, with the labour body saying workers are itching for mass action ...Published: 15 Mar 2020 at 11:11hrs | 1748 | by Staff reporter
Zimdollar chaos power producers
The ban on the use of foreign currency in local transactions and the rapid collapse of the re-introduced Zimbabwe dollar has left independent power producers (IPPs) facing viability problems and is st...Published: 15 Mar 2020 at 11:09hrs | 1607 | by Staff reporter
Mixed feelings over Mthuli Ncube's measures
CAPTAINS of industry have reacted differently to the government's move to liberalise the foreign currency exchange market, with some saying the development confirms that the country has redollarised a...Published: 15 Mar 2020 at 11:09hrs | 1172 | by Staff reporter
Zacc stalks 'forex' landlords
THE Zimbabwe Anti-Corruption Commission (Zacc), working with the police has advised tenants to anonymously use their offices and police stations to report landlords who are demanding rentals in foreig...Published: 15 Mar 2020 at 08:53hrs | 993 | by Staff reporter
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