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Minister Mthuli's Anaconda Choke on the Informal Sector Marks the End of Zanu PF Rule
Zimbabwe's Minister of Finance, Mthuli Ncube, has taken drastic measures to clamp down on the informal sector, a move being described as an "anaconda chok...Published: 13 Dec 2024 at 19:15hrs | 1795 | by Kindred Sibanda
Why Mnangagwa failed to improve Zim's economic prospects
IT is now more than five years since President Emmerson Mnangagwa assumed power with a mandate from his backers to improve the country's economic fortunes, the nemesis of his predecessor, Robert Gabri...Published: 29 Jun 2023 at 06:29hrs | 17 | by Martin Majaji
Zimbabwe now one of the fastest growing African economies
ANALYSING Zimbabwe's unconventional economy always proves somewhat cumbersome because it is a country bridled with policy inconsistency, unfavourable operating conditions buoyed by decades of unilater...Published: 02 Dec 2022 at 19:32hrs | 1 | by Respect Gwenzi
Price controls backfires in Zimbabwe
MANUFACTURERS and retailers have reportedly deliberately stopped supplying basic commodities such as mealie-meal, cooking oil and sugar, resulting in shortages as government's pricing regulations begi...Published: 05 Jul 2022 at 07:05hrs | | by Staff reporter
PPC downbeat as inflation shakes Zimbabwe
JOHANNESBURG Stock Exchange (JSE)-listed Pan African cement maker, PPC has said its earnings per share (EPS) from the Zimbabwean operations would be undermined by rocketing inflation.Ahead of ...Published: 24 Jun 2022 at 07:41hrs | 2 | by Staff reporter
Panic as fuel shortages loom in Zimbabwe
A FUEL crisis is looming as major dealers say they are struggling to stock up because of foreign currency shortages, which they say are threatening their viability.Fuel dealers say they may be...Published: 26 May 2022 at 06:27hrs | 2 | by Staff reporter
Mnangagwa creates unprecedented chaos
AGAINST threats from growth inhibiting factors, like pandemic-induced lockdowns, forex shortages, hyperinflation and rolling blackouts, Zimbabwe's industrial sector expanded by a big margin last year....Published: 13 May 2022 at 19:11hrs | 1 | by Staff reporter
Govt releases US$22m agric equipment for hire
GOVERNMENT has capitalised two agricultural leasing companies with equipment worth over US$22 million to hire out mechanisation services to farmers in its bid to modernise the sector.Zimbabwe'...Published: 25 Apr 2022 at 10:11hrs | 1 | by Staff reporter
Locally produced goods take over, claims Mnangagwa
ZIMBABWE'S manufacturing sector is on a solid recovery path with locally produced goods now constituting 70 percent of shelf space in shops due to increased capacity utilisation, President Mnangagwa h...Published: 19 Apr 2022 at 06:36hrs | 1 | by Staff reporter
'Schweppes selling mostly in Zimdollars'
Beverages maker, Schweppes Zimbabwe, says the bulk of its domestic market sales are being conducted in local currency while US dollars constitute only a small portion.Chief executive Mr Charle...Published: 08 Mar 2022 at 05:39hrs | 1 | by Staff reporter
Voice, data tariffs go up
THE Postal and Telecommunications Regulatory Authority of Zimbabwe (Potraz) has given telecom operators the nod to increase out-of-bundle tariffs by an average of 30% as the industry continues to batt...Published: 28 Sep 2021 at 06:18hrs | 14 | by Staff reporter
'Zimbabwe industry defies odds, hits 95% capacity'
ZIMBABWE'S industries have emerged from the crossfire of Covid-19-induced lockdowns and forex shortages to extend a bounce-back registered since the second quarter of this year, central bank chief Joh...Published: 27 Aug 2021 at 06:39hrs | | by Staff reporter
Zimbabwe mineral exports exceed target
ATTRACTIVE international prices for major minerals except gold, coupled with stability in the mining sector despite the COVID-19-related lockdowns has seen Zimbabwe's mineral exports exceed the projec...Published: 04 Jan 2021 at 22:25hrs | | by Staff reporter
Zimbabwe suffers steep 30% job losses
BUILDING layer upon layer of tradition, pre-Christmas television and billboard advertisements and glittering decorations are now some kind of cultural event. Or so the advertising industry would have ...Published: 24 Dec 2020 at 17:01hrs | 1 | by Staff reporter
Zimbabwe's minerals revenue hits US$2 billion
MINerAL revenues reached US$1,95 billion at the end of October this year, beating a projected US$1,52 billion target set by the Minerals Marketing Corporation of Zimbabwe (MMCZ), official statistics s...Published: 13 Dec 2020 at 08:03hrs | 1 | by Staff reporter
Zimbabwe economic meltdown deepens
SOME of Zimbabwe's largest companies have painted a grim picture of the country's socio-economic situation, reporting a sharp fall in revenues, as the relentless economic meltdown intensifies....Published: 13 Nov 2020 at 07:31hrs | 1 | by Staff reporter
Zimbabwe is missing out on gold's rally
Gold might have rallied to a record high above US$2 070 this year, but policy missteps by the Zimbabwean authorities saw the southern African country missing out on the uplift.Zimbabwe, which ...Published: 11 Oct 2020 at 11:59hrs | | by Staff reporter
Police launch blitz on unregistered vehicles
POLICE have begun impounding vehicles without permanent registration plates in a development that brings to an end a moratorium that had been instituted after the Central Vehicle Registration (CVR) ha...Published: 09 Sep 2020 at 08:26hrs | | by Staff reporter
Foreign currency shortages derail renewable energy firm's efforts to complete project
INDEPENDENT power producer, Nyangani Renewable Energy, says foreign currency shortages as well as economic challenges dogging Zimbabwe were hindering its efforts to complete a solar energy project aim...Published: 07 Aug 2019 at 08:20hrs | 1 | by STaff Reporter
Mthuli Ncube cornered over 'unexplained' forex expenditure
HARARE East legislator Tendai Biti (MDC Alliance) on Thursday last week demanded that Finance minister Mthuli Ncube explain to Parliament where the country's foreign currency has been going given that...Published: 29 Jul 2019 at 07:47hrs | 2 | by Staff reporter
Zimbabwe's new currency: What does it all mean?
FEW things fill a Zimbabwean with fear and dread more than the word "Zimdollar". So, it was no surprise that the news Zimbabwe had declared the RTGS the sole local currency, one more step in the count...Published: 28 Jun 2019 at 06:22hrs | 1 | by newZWire
Scrapping of multi-currency regime: The implications
ON Monday, the government announced major changes in the monetary policy of Zimbabwe, highlighted by the ending of a 10-year multi-currency system.Further measures announced include the intend...Published: 26 Jun 2019 at 07:32hrs | 2 | by Respect Gwenzi
Forex shortages grossly affect BCC service delivery
THE Bulawayo City Council is getting less than one percent of its revenue collection in forex as the local authority is still struggling to raise foreign currency required to boost some of its service...Published: 02 Jun 2019 at 08:23hrs | | by Staff reporter
Measures put in place to protect consumers from price increases
GOVERNMENT has put in place measures to protect consumers against wanton price increases, the Minister of Industry and Commerce, Nqobizitha Mangaliso Ndlovu, has said. The Minister also warned...Published: 01 Jun 2019 at 07:51hrs | 2 | by Staff reporter
Inter-bank, parallel market rates won't converge: Analysts
ANALYSTS say claims by monetary and fiscal authorities that the interbank market and the parallel market for foreign currency will converge are highly unlikely in the absence of a sustained supply of ...Published: 30 May 2019 at 07:57hrs | 3 | by Staff reporter
Of corruption and political will
THE latest Zinara graft scandal is the freshest in a series of corruption scandals which routinely grab the headlines for a short while before they fade into oblivion.The finer details of each...Published: 11 May 2019 at 14:58hrs | 11 | by Miriam Tose Majome
Air Zimbabwe to import spares duty free
ONGOING efforts to turnaround the operations of Air Zimbabwe have received further boost following revelations that Government recently extended the dispensation for the national air carrier to import...Published: 28 Apr 2019 at 07:23hrs | 3 | by Staff reporter
Of market forces and price hikes
Not too long ago, three months ago in fact, fuel in Zimbabwe was cheaper than bottled water and flights from the country were some of the cheapest around. This was thanks to a fixed exchange rate that...Published: 23 Apr 2019 at 07:13hrs | | by newZWire
Stationery shortage hits Registrar-General's office
The Registrar-General's Office (RG) has been hit with a serious shortage of stationery and consumables required to process national identification cards and passports, it has emerged.The offic...Published: 21 Apr 2019 at 08:53hrs | 1 | by Staff reporter
Forex shortages gnaws Zimbabwe's fertilizer industry
ZIMBABWE'S fertilizer industry says it is constrained by forex shortages, but it still has the capacity to produce enough to meet the country's demand this year and export excess production.Zi...Published: 19 Mar 2019 at 06:48hrs | 1 | by Staff reporter
Forex shortages hit Zimbabwe's payment systems
ZIMBABWE'S payments ecosystem faces collapse as players in the sector are failing to pay licensed and maintenance fees to foreign service providers, Standardbusines has established.In recent w...Published: 17 Mar 2019 at 08:46hrs | 5 | by Staff reporter
Paynet Zimbabwe services go offline
BUSINESS has been affected after Paynet Zimbabwe services went offline, cutting off local banks following failure to pay external licence fees. Paynet is the electronic payments processing sys...Published: 15 Mar 2019 at 05:56hrs | 2 | by Staff reporter
Forex shortages hit cancer clinics
PARIRENYATWA Group of Hospitals consultant oncologist Webster Kudzatsa has said foreign currency shortages have hit cancer clinics, affecting patients as institutions fail to acquire spare parts and s...Published: 05 Mar 2019 at 07:28hrs | | by Staff reporter
Can the interbank FX market end the black market?
The recent monitory policy statement announcement by the Reserve Bank of Zimbabwe (RBZ) paved way for the re-introduction of the Interbank Foreign Exchange market as recommended by industry captains w...Published: 04 Mar 2019 at 10:09hrs | | by Victor Bhoroma
Forex shortages hit money transfer agencies
Money transfer agencies mainly Western Union, have become latest victims of foreign currency shortages as it emerged they are failing to access hard cash from local banks for onward transfer to receiv...Published: 19 Feb 2019 at 22:57hrs | 1 | by Staff reporter
National dialogue deadlock: Hope keeps eluding Zimbabwe
NATIONAL dialogue meant to unite Zimbabweans around a common vision has failed to gain traction as the leading political parties have taken deeply entrenched hardline positions, plunging the country d...Published: 15 Feb 2019 at 08:22hrs | 1 | by Staff reporter
Inflation hits Zimbabwe retail sector
THE retail sector in Zimbabwe is seen declining this year due to high inflation and a widening rift between prices and incomes, the Confederation of Zimbabwe Retailers (CZR) has said.CZR presi...Published: 11 Feb 2019 at 09:55hrs | 1 | by Staff reporter
Mangudya expected to tackle fiscal rot
CENTRAL bank chief John Mangudya will have to make bold monetary policy decisions or risk the country sliding back into hyperinflation, analysts say.Mangudya, who is yet to present his much-an...Published: 08 Feb 2019 at 08:51hrs | 1 | by Staff reporter
Return of the Zimdollar?
THE Reserve Bank of Zimbabwe (RBZ) governor John Mangudya is due to release the monetary policy and the policy position is highly anticipated against the sustained monetary related macro-economic defi...Published: 07 Feb 2019 at 15:00hrs | 1 | by Respect Gwenzi
Afreximbank avails $255m letters of credit to Zimbabwe
The African Export Import Bank (Afreximbank) has availed US$255m letters of credit to Zimbabwe for fuel imports and the production of basic commodities in a bid to ensure adequate input supplies to th...Published: 07 Feb 2019 at 08:06hrs | 2 | by Staff reporter
BCC loses US$300 000 to looters
AS the country continues to count the losses of last month's violent demonstrations that resulted in wanton destruction and looting of shops, it has emerged that the Bulawayo City Council lost infrast...Published: 03 Feb 2019 at 11:53hrs | 1 | by Staff reporter
Zimbabwe airports' utilisation below 30%
Capacity utilisation at local airports has slumped to below 30 percent on the back of continued operational challenges facing national airline, Air Zimbabwe.This comes at a time the Civil Avia...Published: 03 Feb 2019 at 11:44hrs | 12 | by Staff reporter
Zimbabwe banks plunge deeper into forex crisis
A vendor counts money at a vegetable street market in Caracas, Venezuela, on Wednesday, Aug. 17, 2016. Venezuela's imports from its six biggest trading partners including Brazil, the U.S., China, Arge...Published: 01 Feb 2019 at 14:06hrs | | by Staff reporter
The role of peace in the economy
We are still struggling, in Zimbabwe and Africa as a whole, when it comes to understanding and executing economic programmes that give sustainable growth. Most analysts tend to paint this poor underst...Published: 29 Jan 2019 at 14:17hrs | 3 | by Kernan Mzelikahle
'Float or demonetise bond notes,' says experts
RESERVE Bank of Zimbabwe (RBZ) governor John Mangudya is this week expected to present the monetary policy statement amid calls that he should address the deep-seated currency challenges which are aff...Published: 27 Jan 2019 at 19:18hrs | 1 | by Staff reporter
Harare supermarkets run out of basic foodstuffs
MOST supermarkets in Harare's central business district (CBD) are running out of stocks of basic goods as supply lines are drying up, the NewsDay has established.A survey done by NewsDay over ...Published: 22 Jan 2019 at 08:52hrs | 22 | by Staff reporter
'Forex shortages threaten gold production'
THE country's gold sector is in a precarious situation after it emerged that the Reserve Bank of Zimbabwe (RBZ) has not been paying primary gold producers for the last three months, NewsDay has establ...Published: 22 Jan 2019 at 08:51hrs | 1 | by Staff reporter
Hold your opinion, this is my own
Worrisome events have occurred in Zimbabwe for the past four days. One does not need to be an intellect or some sort of magician to pinpoint at the root cause i.e, the recent fuel price hikes. Six day...Published: 18 Jan 2019 at 17:08hrs | | by Davis Chitiyo
Temporary forex relief for companies
COMPANIES facing imminent closure due to lack of foreign currency got temporary respite after government issued letters of credit allowing large corporates to procure raw materials, Confederation of Z...Published: 18 Jan 2019 at 12:16hrs | 1 | by Staff reporter
The Role of Peace in the Economy - Mthwakazi Forum
We are still struggling, in Zimbabwe and Africa as a whole, when it comes to understanding and executing economic programmes that give sustainable growth. Most analysts tend to paint this poor underst...Published: 17 Jan 2019 at 20:52hrs | 12 | by Kernan Mzelikahle
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