Search / Foreign currency
RBZ's to unlock over US$1 billion in remittances
In a bold move to revive Zimbabwe's struggling economy, the Reserve Bank of Zimbabwe (RBZ) has announced a plan to securitize diaspora remittances, aiming to transform predictable inflows into investa...Published: 10 Aug 2025 at 18:36hrs | 295 | by Staff reporter
Costs push out horticulture farmers in Zimbabwe
The Horticulture Development Council (HDC) has expressed deep concern over escalating production costs in Zimbabwe's horticulture sector, warning that the trend is driving some farmers to consider rel...Published: 10 Aug 2025 at 12:06hrs | 128 | by Staff reporter
Zimbabwe needs US$10 billion to fix power crisis
Zimbabwe will require up to US$10 billion in energy sector investment over the next decade to meet rising electricity demand and address chronic power shortages, according to a new report by Veritas, ...Published: 10 Aug 2025 at 10:15hrs | 108 | by Staff reporter
NetOne posts record growth
State-owned mobile network operator NetOne has delivered a historic performance, posting record revenue and profit growth while aggressively expanding its high-speed 4G and 5G networks in a bold push ...Published: 09 Aug 2025 at 16:52hrs | 187 | by Staff reporter
RBZ cracks down on ZiG rejection
The Reserve Bank of Zimbabwe (RBZ) has issued a strong warning to businesses and service providers who are refusing to accept the Zimbabwe Gold (ZiG) currency, with central bank governor Dr John Musha...Published: 09 Aug 2025 at 13:28hrs | 339 | by Staff reporter
Zimbabwe's forex receipts surge to US$7.3 billion
Zimbabwe recorded a significant boost in foreign currency receipts, raking in US$7.3 billion during the first half of 2025, according to the Reserve Bank of Zimbabwe’s (RBZ) latest Monetary Policy S...Published: 09 Aug 2025 at 10:01hrs | 135 | by Staff reporter
Logistics firm in exchange control violation
Mapho Tradelink Procurement and Logistics Private Limited, a leading procurement and logistics company, has been taken to court for allegedly breaching the Exchange Control Act by making payments exce...Published: 08 Aug 2025 at 13:08hrs | 187 | by Staff reporter
RBZ crackdown on money laundering
Following an intensive investigation into smuggling, money laundering, and financial externalisation, Zimbabwean authorities have launched a crackdown targeting several businesspeople and companies im...Published: 08 Aug 2025 at 09:15hrs | 568 | by Staff reporter
RBZ upholds tight monetary policy to protect ZWG
The Reserve Bank of Zimbabwe (RBZ) on Thursday reaffirmed its tight monetary policy stance as a key strategy to conserve the local currency, despite mounting pressure from industry players to ease bor...Published: 08 Aug 2025 at 08:59hrs | 157 | by Staff reporter
Zimbabwe banking sector profits drop
Zimbabwe's banking sector has reported a steep drop in earnings for the first half of 2025, with aggregate profits plunging to ZiG5,0 billion (US$184,07 million) from ZiG10,4 billion (US$760,37 millio...Published: 08 Aug 2025 at 08:30hrs | 134 | by Staff reporter
Zimbabwe races to implement IMF-backed reforms
Zimbabwe is racing to implement wide-ranging fiscal and monetary reforms agreed with the International Monetary Fund (IMF), as the country seeks to exit its long-standing debt crisis, rebuild trust wi...Published: 07 Aug 2025 at 17:16hrs | 453 | by Staff reporter
Zimbabwe scales up crocodile exports
The Government of Zimbabwe has stepped up efforts to scale up crocodile farming and exports, focusing on Binga District as a key node in its agro-wildlife economy. The move comes amid growing global d...Published: 07 Aug 2025 at 17:14hrs | 252 | by Staff reporter
Zimbabwe's tobacco marketing season ends
The 2025 tobacco marketing season officially came to a close yesterday, marking a historic milestone for Zimbabwe's agricultural sector as the country posted record-breaking output and earnings. While...Published: 07 Aug 2025 at 17:12hrs | 140 | by Staff reporter
Zimbabwe Company Director Arrested Over US$6 Million LP Gas Forex Scandal
The National Prosecuting Authority of Zimbabwe (NPAZ) has announced the arrest of businessman Grant Chitate and his company Wellington Thulisa (Pvt) Ltd in connection with a massive foreign currency v...Published: 06 Aug 2025 at 16:35hrs | 322 | by Stephen Jakes
Director arrested over US$7.6m payments for LP gas imports
Grant Wellington Thulisa (Pvt) Ltd, represented by its director Grant Chitate, has been dragged before the courts on allegations of making unauthorised foreign payments totalling US$7.6 million for th...Published: 05 Aug 2025 at 17:44hrs | 1054 | by Staff reporter
FBC sees cautious recovery in Zimbabwe
Financial services firm FBC Securities says Zimbabwe's 2025 Mid-Year Budget and Economic Review points to a cautiously optimistic recovery trajectory, although tight fiscal and monetary conditions cou...Published: 05 Aug 2025 at 14:38hrs | 231 | by Staff reporter
Goat tender fraud trial resumes
The trial of businessmen Moses Mpofu and Mike Chimombe, accused of defrauding the Government of US$7 million under the Presidential Goat Pass-On Scheme, resumed yesterday with Mpofu outlining the fina...Published: 05 Aug 2025 at 08:58hrs | 271 | by Staff reporter
Zimbabwe retailers bank on 6% economic growth
The Confederation of Zimbabwe Retailers (CZR) says it expects consumer spending to rise this year, buoyed by the government's projected 6% economic growth, despite continued pressure on household inco...Published: 05 Aug 2025 at 08:53hrs | 57 | by Staff reporter
Mnangagwa to launch National Tourism policy
President Emmerson Mnangagwa is set to officially launch Zimbabwe's National Tourism Policy today in Harare, unveiling a strategic blueprint designed to transform the country into a world-class touris...Published: 04 Aug 2025 at 08:49hrs | 129 | by Staff reporter
Company faces exchange control violation charges
A Harare-based company, Grant Thulisa (Pvt) Ltd, has been hauled before the courts on allegations of violating Zimbabwe's exchange control regulations after it allegedly misrepresented the amount of m...Published: 03 Aug 2025 at 12:17hrs | 199 | by Staff reporter
Zimbabwe's tourism sector declined in early 2025
Zimbabwe's tourism sector has experienced a significant downturn in the first quarter of 2025, with both receipts and investment sharply declining as global travel demand weakens and domestic economic...Published: 02 Aug 2025 at 10:17hrs | 89 | by Staff reporter
Econet defends fair usage policy amid backlash
Econet Wireless Zimbabwe has come under fire from some of its SmartBiz customers following the enforcement of its Fair Usage Policy (FUP) on "unlimited" data packages.Critics say the move unde...Published: 01 Aug 2025 at 13:47hrs | 676 | by Staff reporter
RBZ Chief charts path to monetary stability
Reserve Bank of Zimbabwe (RBZ) Governor Dr. John Mushayavanhu says the central bank is making steady progress in consolidating price stability, growing foreign reserves, and reinforcing the banking se...Published: 01 Aug 2025 at 13:12hrs | 172 | by Staff reporter
Zimbabwe govt mulls fresh taxes
Finance Minister Mthuli Ncube yesterday unveiled plans to impose new taxes, despite growing resistance from businesses and taxpayers who argue that Zimbabwe's current tax burden is already suffocating...Published: 01 Aug 2025 at 08:02hrs | 382 | by Staff reporter
Dairibord warns of rising costs
Dairibord Holdings Limited, one of Zimbabwe's largest publicly listed milk processors, has sounded the alarm over a tough operating environment that has driven up costs, squeezed margins, and weighed ...Published: 31 Jul 2025 at 12:54hrs | 224 | by Staff reporter
Mutapa, RBZ push for economic transformation
The Mutapa Investment Fund and the Reserve Bank of Zimbabwe (RBZ) have pledged to play pivotal roles in driving economic transformation and ensuring financial stability as the nation accelerates effor...Published: 28 Jul 2025 at 14:18hrs | 202 | by Staff reporter
PPC unveils 30MW solar energy project in Zimbabwe
South African cement manufacturer PPC Limited has announced it is developing a 30 megawatt (MW) solar energy programme in Zimbabwe, aimed at reducing operational costs and lessening dependence on the ...Published: 28 Jul 2025 at 08:55hrs | 348 | by Staff reporter
RBZ reveals strategy towards shift to mono-currency
Zimbabwe's central bank is stepping up efforts to build up foreign currency reserves in preparation for a planned transition to a mono-currency regime by 2030, Reserve Bank of Zimbabwe (RBZ) Governor ...Published: 25 Jul 2025 at 18:01hrs | 787 | by Staff reporter
Mines and RBZ in crunch talks over forex retention
The Chamber of Mines of Zimbabwe has initiated fresh negotiations with the Reserve Bank of Zimbabwe (RBZ) to review the current foreign currency retention framework, citing growing concerns over worse...Published: 25 Jul 2025 at 14:11hrs | 75 | by Staff reporter
Mines and RBZ in crunch talks over forex retention
The Chamber of Mines of Zimbabwe has initiated fresh negotiations with the Reserve Bank of Zimbabwe (RBZ) to review the current foreign currency retention framework, citing growing concerns over worse...Published: 25 Jul 2025 at 14:11hrs | 45 | by Staff reporter
Zimbabwe's formal economy tanks
Zimbabwe's economy has become overwhelmingly informal, with the latest figures from the Zimbabwe National Statistics Agency (ZimStat) revealing that 76% of business operations in the country are now i...Published: 24 Jul 2025 at 16:09hrs | 588 | by Staff reporter
Mnangagwa commissions Zimplats 35MW solar plant
President Emmerson Mnangagwa has praised platinum mining giant Zimplats for setting a benchmark in Zimbabwe's mining sector through enhanced production and responsible environmental practices....Published: 24 Jul 2025 at 09:25hrs | 138 | by Staff reporter
Zimra defends aggressive tax enforcement
Foreign currency-generating sectors such as tourism and agriculture are being choked by excessive regulations, multiple taxes, and bureaucratic red tape, industry experts have warned. Despite being cr...Published: 22 Jul 2025 at 09:12hrs | 147 | by Staff reporter
Meikles's debt to suppliers raises fresh concerns
Meikles Limited's trade payables more than doubled to ZiG925,78 million in its financial year ended February 28, 2025, sparking fears of deepening debt pressures within Zimbabwe's formal retail sector...Published: 21 Jul 2025 at 12:34hrs | 473 | by Staff reporter
Villager loses 12 cattle in traditional court ruling
A Mazowe villager, Christopher Chisango, has won a reprieve at the High Court after successfully challenging a traditional court ruling that had ordered him to compensate a fellow villager with 12 cat...Published: 18 Jul 2025 at 08:32hrs | 429 | by Staff reporter
Mutapa, Jindal Steel seal US$455m deal
The Mutapa Investment Fund (MIF) has finalized a $455 million concession agreement with Indian conglomerate Jindal Steel and Power Company for the rehabilitation of Units 1 to 6 at Hwange Therma...Published: 17 Jul 2025 at 20:58hrs | 626 | by Staff reporter
Zimbabwe govt warns Chinese firms over illicit deals
The Office of the President and Cabinet (OPC) has issued a sharp and public rebuke to Chinese businesses operating in Zimbabwe, warning them to immediately halt illicit financial activities, environme...Published: 16 Jul 2025 at 07:41hrs | 534 | by Staff reporter
Zimbabwe gold makes currency history
Welcome Mavingire, managing consultant at INTELLEGO Investment Consultants, has hailed the Zimbabwe Gold (ZiG) currency's recent stability as the longest sustained period for a domestic currency in th...Published: 14 Jul 2025 at 08:10hrs | 733 | by Staff reporter
'Surge in forex inflows a boon for ZiG stability'
Zimbabwe's foreign currency receipts surged by 22 percent to US$6 billion in the first five months of 2025, according to the Reserve Bank of Zimbabwe (RBZ), a development anal...Published: 14 Jul 2025 at 07:52hrs | 134 | by Staff reporter
Vumbunu brothers still in SA custody
The notorious Vumbunu brothers, Abraham and Elijah Temayi Vumbunu, are currently held in custody in South Africa following their arrest in connection with the massive US$4 million robbery at Ecobank t...Published: 13 Jul 2025 at 11:19hrs | 119 | by Staff reporter
Delta loses US$74 million tax battle with ZIMRA
Delta Corporation has faced a major setback in its prolonged legal dispute with the Zimbabwe Revenue Authority (ZIMRA) after the Constitutional Court dismissed its appeal challenging previous rulings ...Published: 13 Jul 2025 at 11:16hrs | 102 | by Staff reporter
Zimbabwe central bank reports drop in inflation
The Reserve Bank of Zimbabwe (RBZ) has expressed cautious optimism about the country's economic trajectory, citing encouraging signs in inflation control, exchange rate stability, and foreign currency...Published: 10 Jul 2025 at 10:11hrs | 180 | by Staff reporter
Zimbabwe's foreign currency reserves surge
Zimbabwe's foreign currency reserves have maintained strong momentum, with the Reserve Bank of Zimbabwe (RBZ) reporting that, by the end of June 2025, the reserve holdings were more than three times h...Published: 10 Jul 2025 at 08:56hrs | 130 | by Staff reporter
ZNCC urges RBZ to cut policy rate to 20%
The Zimbabwe National Chamber of Commerce (ZNCC) has urged the Reserve Bank of Zimbabwe (RBZ) to lower its bank policy rate from the current 35% to 20% in an effort to ease growing credit constraints ...Published: 08 Jul 2025 at 12:12hrs | 214 | by Staff reporter
Maize seed sales surge in Zimbabwe
Zimbabwean farmers have significantly ramped up grain production this year, marking a powerful rebound from the devastating El Nino-induced drought of the previous season. The renewed agricultural mom...Published: 08 Jul 2025 at 09:40hrs | 148 | by Staff reporter
Delta Corporation slams Zimra over uncertainties
Zimbabwe's largest beverage manufacturer, Delta Corporation Limited, has accused the country's tax authorities of fueling business uncertainty through what it described as the arbitrary creation of le...Published: 07 Jul 2025 at 08:47hrs | 379 | by Staff reporter
Zimbabwe gold exports jump 25% in June
Zimbabwe's gold exports soared by 24 percent in the first five months of 2025, reaching US$748 million compared to US$599.2 million during the same period in 2024, according to figures released by the...Published: 04 Jul 2025 at 09:22hrs | 142 | by Staff reporter
Cotton farmers earn over US$3 million
Zimbabwean cotton farmers have sold more than US$3 million worth of seed cotton to the Cotton Company of Zimbabwe (Cottco) so far this season, with the state-run firm confirming it is paying growers e...Published: 03 Jul 2025 at 19:10hrs | 143 | by Staff reporter
Zimbabwe's RBZ scraps heavy-handed forex controls
The Reserve Bank of Zimbabwe (RBZ) has officially abandoned its stringent enforcement of exchange rate controls, marking a significant policy shift aimed at fostering market stability, restoring busin...Published: 03 Jul 2025 at 12:32hrs | 1690 | by Staff reporter
Zimbabwe Tourism Authority in hunt for new CEO
The Zimbabwe Tourism Authority (ZTA) has officially begun the hunt for a new substantive Chief Executive Officer, a strategic leadership role expected to shape and deliver Zimbabwe's vision of becomin...Published: 02 Jul 2025 at 17:43hrs | 1171 | by Staff reporter
Load More Stories
