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Air Zimbabwe to sell 2 Boeing passenger planes
Air Zimbabwe has announced plans to sell two Boeing 777-200ER passenger aircraft it acquired from Malaysia a few years ago, as the national carrier continues to battle longstanding financial difficult...Published: 01 Jun 2025 at 15:05hrs | 660 | by Staff reporter
Zimbabwe misses €150 billion conditional funding from EU
Europe and Africa's strategic partnership has entered an exciting new phase, with both continents reaffirming their commitment to deepen economic cooperation and promote global peace. However, Zimbabw...Published: 30 May 2025 at 12:14hrs | 393 | by Staff reporter
Zimbabwe's power deficit soars to 1,560 megawatts
Zimbabwe is grappling with a worsening power crisis, with the country's electricity deficit now standing at a staggering 1,560 megawatts (MW), according to a new report from Parliament's Portfolio Com...Published: 12 Feb 2025 at 15:27hrs | 415 | by Staff reporter
Chinese debt threatens to switch off Zimbabwe's Hwange
Zimbabwe's industrial sector is on edge this week as concerns grow over the future of the Hwange Thermal Power Station, a critical asset for the country's beleaguered power grid. With power utility Ze...Published: 24 Nov 2024 at 10:14hrs | 11749 | by Staff reporter
'Trump Presidency to hurt Zimbabwe's trade, investments'
Zimbabwe's trade and investment prospects could face significant challenges following United States President-elect Donald Trump's proposed tariff policies, according to an analysis by FBC Securities....Published: 11 Nov 2024 at 07:13hrs | 2309 | by Staff reporter
Zimbabwe compensates farmers over land invasions
The Zimbabwean government will this month pay an initial $20 million to foreign white and local Black farmers who lost land in farm invasions under former leader Robert Mugabe at the turn of the centu...Published: 08 Oct 2024 at 07:34hrs | 1594 | by Staff reporter
Zimbabwe needs $1.6bn to lift crop output after El Nino induced drought
ZIMBABWE needs $1.64 billion to bolster crop production after a devastating drought increased food insecurity and prompted a state of disaster.The southern African nation is targeting a more t...Published: 08 Sep 2024 at 09:46hrs | 76 | by Staff reporter
NOIC suffers blow in US$160,000 arbitration award
The High Court has ruled in favor of the contractor in a dispute with the National Oil Infrastructure Company of Zimbabwe (NOIC) overpayment for supplying and installing instrumentation, control, and ...Published: 28 May 2024 at 09:55hrs | 6 | by Staff reporter
Zimbabwe's very own Emperor Nero is burning down povo's hovels to build palatial villas for filthy rich few
"The closer the collapse of the empire, the crazier its laws" Marcus Tullius Cicero. Well we in Zimbabwe are witness this first hand. Zanu PF introduced the new local currency insisting ...Published: 18 May 2024 at 20:47hrs | 14 | by Wilbert Mukori
Mr Kudzai Mutisi, the German 'Economic wonder' after the WW2 had multiple favourable factors!
I am writing this article as a reply to your article you wrote last week: My article is not in any way or form critiquing your own but including factors that must be known, but, however, adding to wha...Published: 20 Mar 2024 at 20:53hrs | 9 | by Nomazulu Thata
Zesa struggling to clear debts
ZESA Holdings has revealed that it is barely managing to meet its foreign and local obligations owing to the country's tight economic situation.The utility is struggling to service a US$2 bill...Published: 20 Mar 2024 at 06:34hrs | 2 | by Staff reporter
Swiss company loses US$270K court challenge
SWITZERLAND-REGISTERED energy firm, Addax Energy SA, has lost a High Court bid to force a local company to settle an outstanding fuel debt of US$269 735,88 in foreign currency.Addax Energy cit...Published: 07 Mar 2024 at 05:10hrs | 26 | by Staff reporter
Mnangagwa re-engagement plan in danger
This week, political analysts and prominent economists cautioned that President Emmerson Mnangagwa's efforts to re-engage with the international community could be jeopardized by several unfavorable r...Published: 30 Sep 2023 at 18:35hrs | 3 | by Staff reporter
Zimbabwe to clear its foreign debt by the end of 2025
ZIMBABWEAN Finance Minister Mthuli Ncube says Harare will do all it can to clear its foreign debt by December 2025 to open fresh lines of credit that would help in revamping the floundering economy....Published: 07 Aug 2023 at 06:36hrs | 3 | by Staff reporter
Econet, EcoCash announce rights offer
LISTED telecoms firm Econet Wireless Zimbabwe Limited (EWZL) and its subsidiary EcoCash Holdings yesterday announced a renounceable rights issue to raise US$30,3 million for the redemption of existing...Published: 25 Jul 2023 at 08:23hrs | 5 | by Staff reporter
Exodus continues as Zimbabwean economy lies in ruins ahead of elections
Soaring inflation and collapsing ‘bond notes' are forcing more and more qualified people and professionals to flee the country.Zimbabwe's poor economic performance and depreciation of the su...Published: 03 Jul 2023 at 07:02hrs | 11 | by Staff reporter
Why Mnangagwa blocked Mthuli Ncube's export tax
PRESIDENT Emmerson Mnangagwa recently blocked Finance minister Mthuli Ncube's 10% tax on mining exports to pay arrears on the country's debt overhang - which makes it difficult for the government to b...Published: 02 Jul 2023 at 17:27hrs | 22 | by Staff reporter
Zimbabwe imposes new charge on foreign payments
All outward payments from Zimbabwe to any foreign country for the next six months will attract a one percent charge up to a maximum of US$50 000 as part of measures gazetted by President Mnangagwa yes...Published: 15 Jun 2023 at 06:48hrs | 1 | by Staff reporter
EcoCash posts $4,76bn loss
ECOCASH Holdings Zimbabwe Limited (EHZL) has posted a $4,76 billion loss for its financial year ended February 28, 2023 owing to monetary exchange losses worth $30,1 billion linked to its failure to r...Published: 02 Jun 2023 at 06:44hrs | 2 | by Staff reporter
Zimbabwe to woo capital markets investors in London
ZIMBABWEAN government officials and corporate leaders are gearing for a major capital markets conference in London, United Kingdom, during the last week of next month to mobilise private capital to fi...Published: 08 Mar 2023 at 05:27hrs | | by Staff reporter
Zimbabwe aims for top spot in carbon steel production
ZIMBABWE is now on a sustainable economic growth path following a number of interventions and is set to become one of the top carbon steel producers in sub-Saharan Africa in the next three years on th...Published: 30 Jan 2023 at 07:10hrs | 1 | by Staff reporter
Lenders slap Zimbabwe with US$2,1 billion penalties
INTERNATIONAL creditors and banks have hit Zimbabwe with penalties totalling US$2,1 billion for unsettled debts, official data has shown.According to a report titled "Statement of Zimbab...Published: 18 Dec 2022 at 06:50hrs | | by Staff reporter
Government policy destroying the formal economy
Policy missteps and inconsistency has turned the Zimbabwean economy on its head against the formal sector, posing a threat to business continuity, domestic resource mobilization and formal employment....Published: 16 Dec 2022 at 00:06hrs | 9 | by Victor Bhoroma
Tough foreign exchange regime suffocating economy
Zimbabwe's broad money supply has grown from just under ZW$364,60 billion as of September 2021 to more than ZW$1,920 trillion as of September 2022. This represents growth of over 426% over a period of...Published: 16 Dec 2022 at 00:02hrs | 3 | by Victor Bhoroma
Zimbabwe macroeconomic priorities for 2023
Zimbabwe's treasury department presented a ZW$4.5 trillion budget (21% of 2021 GDP) for the 2023 fiscal year. The budget roughly translates to US$5.3 billion if the market exchange rate is used. As is...Published: 15 Dec 2022 at 23:53hrs | | by Victor Bhoroma
AfDB rallies support for Zimbabwe debt solution
When the African Development Bank (AfDB) president, Dr Akinwumi Adesina, speaks on the effects of devastating economic sanctions slapped on Zimbabwe over two decades ago by Britain and her western all...Published: 15 Dec 2022 at 00:21hrs | 15 | by Staff reporter
RBZ in gems mop up deal
THE government has structured a deal that will see the Reserve Bank of Zimbabwe (RBZ) buying excess diamonds as it moves to shut out unscrupulous dealers that have been dribbling authorities....Published: 02 Dec 2022 at 19:30hrs | 1 | by Staff rteporter
Zimbabwe govt pays US$50,28m to service external debt
TREASURY paid out US$50,28 million between January and September this year towards servicing its active debt portfolio while token payments were also made for debt arrears owed to International Financ...Published: 29 Nov 2022 at 05:15hrs | | by Staff reporter
Zimbabwe foreign debt now US$14.4bn
DEBT-RIDDEN Zimbabwe's total official Public and Publicly Guaranteed (PPG) debt is estimated at ZW$2.2 trillion for domestic debt and US$14 billion for external debt (including blocked funds of US$3.1...Published: 27 Nov 2022 at 14:58hrs | | by Staff reporter
Zimra to intensify revenue collection
THE Zimbabwe Revenue Authority (Zimra) is intensifying domestic resource mobilisation to guarantee the availability of adequate financial resources required to fund critical Government programmes....Published: 17 Oct 2022 at 06:05hrs | 3 | by Staff reporter
Mnangagwa's son-in-law captures Trevor Ncube's media group
PRESIDENT Emmerson Mnangagwa's son in-law Gerald Mlotshwa - a prominent lawyer married to the ruling Zanu-PF leader's daughter Farai - has now formally bought a significant equity stake at the private...Published: 02 Oct 2022 at 09:19hrs | 6 | by Staff reporter
The destructive force of corruption
IN my business life I have handled several billion dollars of revenue and expenditure over a period of 65 years. In that time, I have been blatantly approached and asked for a bribe once — by a loca...Published: 07 Sep 2022 at 06:46hrs | 5 | by Eddie Cross
Policy flaws chasing Forex from the formal market
It is estimated that US$2.5 billion is circulating outside the formal banking system in Zimbabwe with households, businesses and foreign investors preferring to store their hard-earned foreign currenc...Published: 11 Aug 2022 at 12:05hrs | 15 | by Victor Bhoroma
Mnangagwa's govt to mortgage platinum royalties to pay off farmers
ZIMBABWE will mortgage platinum mining royalties to pay US$3.5 billion in compensation to white farmers whose land was expropriated by the government, moving a step closer to resolving Robert Mugabe's...Published: 07 Aug 2022 at 18:50hrs | 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
Mthuli Ncube told his tricks are not working
LEGISLATORS took Finance Minister Professor Mthuli Ncube to task in Parliament Wednesday, challenging him over the government's "failed" NDS-1 economic blue-print and the administration's apparent lac...Published: 16 Jun 2022 at 08:34hrs | 10 | by Staff reporter
Monetary policy inconsistency sinking economy
On the 17th of May 2022, the Reserve Bank of Zimbabwe (RBZ) issued a circular cancelling the order announced by the head of state on the suspension of bank lending one week earlier. The head of state ...Published: 08 Jun 2022 at 07:19hrs | 2 | by Victor Bhoroma
WATCH: Hakainde Hichilema blasted for opening American army office in Zambia
Zambia's opposition the New Heritage Party led by Chishala Kateka has condemned the move bythe Zambian government to open the office of the United States Africa Command ( AFRICOM) sayi...Published: 29 Apr 2022 at 12:40hrs | 14 | by Mandla Ndlovu
Mnangagwa pleads poverty
REVELATIONS that Zimbabwe is pushing to be classified a Heavily Indebted Poor Country (HIPC) as Harare seeks debt relief in what is effectively a volte-face on the long-held official aversion to the i...Published: 27 Apr 2022 at 13:37hrs | 2 | by Staff reporter
Zesa begs for US$2,5bn war chest to end load shedding
POWER utility, Zesa Holdings Private Limited executive chairperson Sydney Gata says the parastatal is in need of US$2,5 billion to end load shedding as the country grapples with subdued local po...Published: 01 Apr 2022 at 10:34hrs | 3 | 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
Mawere demands judge's recusal
Exiled businessman Mutumwa Mawere has filed a Constitutional Court application seeking the recusal of Justice Rita Makarau in a case where the constitutionality of the Reconstruction of State-Indebted...Published: 27 Feb 2022 at 07:35hrs | 2 | by Staff reporter
Mnangagwa sued over companies
South African-based Zimbabwean businessman Mutumwa Mawere has filed a Constitutional Court application against President Emmerson Mnangagwa accusing him of having used the seizure of his companies to ...Published: 20 Feb 2022 at 09:00hrs | 3 | by Staff reporter
Ramaphosa sucked into the SMM saga
SOUTH African President Cyril Ramaphosa has been dragged into the on-going fight between government and the Friends of SMM Holdings (Pvt) Ltd (FOSMM) over the hostile takeover of the asbestos mine in ...Published: 09 Feb 2022 at 05:28hrs | 2 | by Staff reporter
Air Zimbabwe to buy new planes next year
TREASURY will support flag carrier, Air Zimbabwe, to recapitalise through acquisition of new planes and expand its routes in 2022 under the airline's six-year strategic turn-around plan.The pl...Published: 03 Dec 2021 at 05:21hrs | 11 | by Staff reporter
Zimbabwe pays US$44m of foreign debt
PRESIDENT Emmerson Mnangagwa's administration paid US$44,2 million to foreign creditors during the nine months to September, as part of its refreshed debt repayment plan, data showed at the weekend....Published: 29 Nov 2021 at 05:36hrs | 15 | by Staff reporter
Pegged exchange rate unsustainable
Zimbabwe's export receipts for the first 9 months of 2021 jumped 38% to US$6.10 billion from US$4.43 billion realized in the same period in 2020. Notable improvements have been realized in internation...Published: 24 Nov 2021 at 10:37hrs | 13 | by Victor Bhoroma
SMM saga sucks in Cyril Ramaphosa
FRIENDS of Shabanie and Mashava Mines Holdings (FoSMM) have filed papers at the Johannesburg High Court seeking an order to compel South African President Cyril Ramaphosa to ignore an administrator ap...Published: 17 Sep 2021 at 20:17hrs | 13 | by Staff reporter
Mthuli Ncube in US
ZIMBABWE will seek to raise $200m in a debut domestic US dollar bond sale on its stock exchange in Victoria Falls that trades exclusively in foreign currency, says finance minister Mthuli Ncube....Published: 16 Sep 2021 at 19:50hrs | 10 | by Staff reporter
Mthuli Ncube to launch US$ bond on VFEX
WITH the Victoria Falls Stock Exchange (VFEX) being one of the innovation reforms meant to support the process of financial deepening, Government is working on launching a US$ bond and list it on the ...Published: 05 Sep 2021 at 06:58hrs | 1 | by Staff reporter
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