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Zupco's three-tier fare structure unsustainable
ON January 16, 2021, urban transporter Zupco announced a 100% fare hike for urban routes citing falling revenues due to the reduced number of passengers which has been necessitated by adherence to COV...Published: 01 Mar 2021 at 04:59hrs | 1449 | by Ngwenya
RBZ backtracks on farmers' forex retention thresholds
THE Reserve Bank of Zimbabwe (RBZ) has been forced to raise foreign currency retention thresholds for tobacco producers by 10% following pressure from farmers.RBZ also scrapped the compulsory ...Published: 28 Feb 2021 at 08:51hrs | 692 | by Staff reporter
Plans to repeal crippling taxation on cards
THE Ministry of Mines and Mining Development is currently engaged in major discussions with fiscal and monetary authorities to address the issues of the punitive tax regime and surrender thresholds th...Published: 26 Feb 2021 at 06:55hrs | 1427 | by Staff reporter
'Auction rate is the real market rate'
THE auction exchange rate represents the proper market trends contrary to the contrived perception that the parallel market signifies the "real exchange rate", a senior Treasury official has said. &nb...Published: 26 Feb 2021 at 06:30hrs | 233 | by Staff reporter
Mangudya in shock claims
Zimbabwe's central bank governor, John Mangudya, this week claimed the southern African country does not need "anyone's money" to extricate itself from its economic woes.The country, which is ...Published: 25 Feb 2021 at 16:19hrs | 3653 | by Staff reporter
Amplats warns Zimbabwe
ZIMBABWE'S decision to compel exporters to surrender more of their foreign currency earnings may leave miners unable to fund operations, Anglo American Platinum (Amplats), one of the country's biggest...Published: 24 Feb 2021 at 21:45hrs | 401 | by Staff reporter
Forex shortage stalls base station work
WORK on the Umzingwane mobile network base station has stalled due to shortages of foreign currency, Parliament was told last Wednesday.This was revealed in the National Assembly by Informatio...Published: 21 Feb 2021 at 21:45hrs | 257 | by Staff reporter
Zimbabwean banks strike forex auction settlement deal
ZIMBABWE's banking system has agreed to settle funds allocated at the foreign currency auction system within two weeks, central bank governor John Mangudya has said.Introduced in June 2020 to ...Published: 21 Feb 2021 at 07:06hrs | 1253 | by Staff reporter
Rains to drive Zimbabwe exports rebound
ZIMBABWE has been projected to narrow its trade balance in 2021 owing to better yields in the current agricultural season following a good rainfall season.According to a report by IH Securitie...Published: 21 Feb 2021 at 07:05hrs | 361 | by Staff reporter
Pfumvudza, bond notes: Mnangagwa's saviour
THE gigantic lake TugwiMukosi is spilling. This is a rare phenomenon for a water body so big to spill less than four years after commissioning.It holds a promise that is too big to hide or ign...Published: 20 Feb 2021 at 08:55hrs | 753 | by Paidamoyo Muzulu
RBZ projects inflation fall
THE Reserve Bank of Zimbabwe (RBZ) yesterday forecast annual inflation to plummet to less than 10% this year, driven by a good agricultural season, fiscal and financial sector stability.Zimbab...Published: 19 Feb 2021 at 07:16hrs | 382 | by Staff reporter
Zimdollar to weaken after lockdown
DESPITE enjoying some illusory stability owing to depressed demand for foreign currency due to Covid-19 lockdowns, which reduced business activity, the Zimbabwe dollar remains volatile with high risks...Published: 19 Feb 2021 at 07:08hrs | 1368 | by Staff reporter
RBZ probes shady tycoons and firms
THE Financial Intelligence Unit (FIU) - an arm of the Reserve Bank of Zimbabwe (RBZ) - has opened a fresh investigation into firms and individuals who are using shelf companies to siphon money from th...Published: 19 Feb 2021 at 07:03hrs | 1206 | by Staff reporter
Cash withdrawal limits, lending rates go up
THE Reserve Bank of Zimbabwe (RBZ) has increased withdrawal limits to $2 000 from $1 000 and reviewed upwards the bank policy and private sector lending rates as part of comprehensive measures to stre...Published: 19 Feb 2021 at 06:49hrs | 683 | by Staff reporter
Forex auction apportions US$38 million to productive sector
OVER US$38 million was allotted to the productive sectors at yesterday's Reserve Bank of Zimbabwe (RBZ) weekly Foreign Currency Auction Trading System reflecting a 11,44 percent jump from last Tuesday...Published: 17 Feb 2021 at 15:04hrs | 636 | by Staff reporter
Zimdollar will maintain a 'fragile stability' this year report
ZIMBABWE's currency will maintain a "fragile stability" this year, continuing from the volatilities that haunted the domestic unit even after the introduction of theforeign currency auction system...Published: 17 Feb 2021 at 06:11hrs | 804 | by Staff reporter
Wide Econet data network keeps businesses, communities going under lockdown
THE COVID-19 pandemic and the subsequent national lockdowns have underlined the importance of reliable data services in keeping people, communities, busin...Published: 15 Feb 2021 at 20:44hrs | 596 | by Agencies
'Forex enough to stabilise rate'
The exchange rate of the Zimbabwean dollar against the US dollar will continue to hold steady on the weekly auction market because the country is earning enough forex to support critical imports, the ...Published: 12 Feb 2021 at 05:34hrs | 374 | by Staff reporter
'Forex auction eased liquidity crisis'
THE move by the Reserve Bank of Zimbabwe (RBZ to introduce the foreign currency auction system in June last year eased a liquidity crisis that swept through small-to-medium enterprises (SME), global r...Published: 11 Feb 2021 at 06:16hrs | 413 | by Staff reporter
Mnangagwa, Chiwenga-linked cartels take over public firms, mines, fuel sector - report
HIGHLY secretive cartels linked to President Emmerson Mnangagwa and Vice President Constantino Chiwenga are reported to have taken over the operations of key state-owned companies, including private f...Published: 10 Feb 2021 at 07:33hrs | 8101 | by Staff reporter
RBZ still optimistic about low inflation
Reserve Bank of Zimbabwe Governor, Dr John Mangudya, remains confident authorities will be able to maintain a lid on prices to curtail potential relapse into runaway inflation, following worrying incr...Published: 10 Feb 2021 at 05:29hrs | 211 | by Staff reporter
Foreign cars pay toll fees in forex
The Zimbabwe National Road Administration (ZINARA) says all foreign-registered vehicles are now required to pay toll fees in foreign currency in line with Statutory Instrument 32 of 2021 promulgated o...Published: 07 Feb 2021 at 06:31hrs | 347 | by Staff reporter
ZUPCO's three-tier fare structure unsustainable
On the 16th of January 2021, the now monopolized urban transporter ZUPCO announced a 100% fare hike for urban routes sighting falling revenues due to reduced carrying capacity of buses which has been ...Published: 06 Feb 2021 at 17:47hrs | 543 | by Nkosilathi Lesley Ngwenya
Forex trading guide: 9 valuable guides for beginners
Foreign exchange is one of the many areas people flock towards as far as investing is concerned. Many people around the world make a sustainable living purely from Forex trading. As a matter of fact, ...Published: 06 Feb 2021 at 16:40hrs | 611 | by Staff writer
Push for Mwonzora arrest
WAR is brewing in the MDC-T camp amid allegations that members of the party aligned to vice-president Thokozani Khupe are pushing to have party leader Douglas Mwonzora and his allies arrested for alle...Published: 05 Feb 2021 at 06:48hrs | 3251 | by Staff reporter
Zupco forex fares spark outcry
Zimbabwe United Passenger Company (Zupco) has started charging fares in foreign currency alongside local currency, but passengers have decried the disregard for official exchange rates. Yester...Published: 05 Feb 2021 at 06:37hrs | 1489 | by Staff reporter
Zupco fares in forex
The Zimbabwe Passengers Company (Zupco) has started charging fares in foreign currency alongside the Bond.Yesterday, commuters were paying R10 or US$1 for kombis while buses were charging R5 o...Published: 04 Feb 2021 at 19:30hrs | 1383 | by Staff reporter
Zimbabwe is back to cattle country status
LIVESTOCK, especially cattle, play a critical role in the sustenance of most rural communities and commercial farmers in Zimbabwe and across Africa. Traditionally a symbol of wealth and a way ...Published: 03 Feb 2021 at 06:12hrs | 1114 | by Staff reporter
Foreign cars to pay toll fees in forex
The Zimbabwe National Road Administration (ZINARA) says all foreign registered vehicles are now required to pay toll fees in foreign currency in line with Statutory Instrument 32 of 2021 promulgated o...Published: 03 Feb 2021 at 05:55hrs | 739 | by Staff reporter
Record US$36m allotment at auction
A record US$36,32 million was allotted at yesterday's 31st foreign currency auction of the Reserve Bank of Zimbabwe, but for the second week running all bids below $82 were rejected so the Zimbabwe do...Published: 03 Feb 2021 at 05:54hrs | 288 | by Staff reporter
RBZ 'officials' arrested
Police in Midlands have arrested two Harare men driving around the country with fake Reserve Bank of Zimbabwe identity cards, swindling businesses after accusing them of using the wrong foreign exchan...Published: 02 Feb 2021 at 06:31hrs | 2932 | by Staff reporter
Mobile money clampdown erodes 2c tax earnings
THE clampdown on mobile money transfer services is negatively impacting on the Intermediated Money Transfer Tax (IMTT) popularly known as 2c tax, which contributed poorly to revenue performance in the...Published: 01 Feb 2021 at 19:25hrs | 806 | by Staff reporter
Zimbabwe govt unveils forex income tax bands
The income tax bands for those earning in foreign currency and so required to pay income tax in that currency have been gazetted, with a tax free threshold of US$70 a month and the top 40 percent tax ...Published: 01 Feb 2021 at 05:33hrs | 2003 | by Staff reporter
Tollgate fees hiked again
MOTORISTS, with effect from today, can pay tollgate fees in foreign currency as the Zimbabwe National Road Administration (Zinara) has introduced a dual pricing system and hiked toll fees. The...Published: 30 Jan 2021 at 05:56hrs | 2083 | by Staff reporter
State entities dominate forex allocations, says Cross
STATE firms and government departments are collecting a significant amount of funds allocated at the Reserve Bank of Zimbabwe (RBZ)'s foreign currency auction system weekly, crowding out the private s...Published: 29 Jan 2021 at 07:03hrs | 803 | by Staff reporter
Conversations must go beyond the forex auction and focus on production
Driving through Zimbabwe's once vibrant industrial hubs in Belmont (Bulawayo), Paulington (Mutare), Southerton, Graniteside, Working, Msasa (all in Harare), and elsewhere, one gets the sense that the ...Published: 28 Jan 2021 at 22:06hrs | 602 | by Andrew Lampard
Conversations must go beyond the forex auction and focus on production
Driving through Zimbabwe's once vibrant industrial hubs in Belmont (Bulawayo), Paulington (Mutare), Southerton, Graniteside, Working, Msasa (all in Harare), and elsewhere, one gets the sense that the ...Published: 28 Jan 2021 at 16:57hrs | 420 | by Andrew Lampard
Bread price hike looms
BAKERS say they were battling to contain flour prices because of the rise in the prices of imported wheat which had been caused by delays of cereal deliveries from abroad because of the COVID-19 pande...Published: 28 Jan 2021 at 06:32hrs | 2346 | by Staff reporter
Zisco pensioners getting $25 per month
FORMER employees of the now-defunct Zimbabwe Iron and Steel Company (Zisco) are being paid $25 per month as pension on retirement, NewsDay reported.The pensioners who spoke to NewsDay said the...Published: 22 Jan 2021 at 06:38hrs | 462 | by Staff reporter
'Zimbabwe printing $1 billion weekly to buy gold'
FORMER legislator and Monetary Policy Committee member Eddie Cross has made sensational claims that the Reserve Bank of Zimbabwe (RBZ) was printing $1 billion weekly mainly to buy gold.At the ...Published: 21 Jan 2021 at 06:46hrs | 3197 | by Staff reporter
What caused the 50% plunge in Zimbabwe's fuel import bill?
ZIMBABWE'S fuel import bill fell by more than 50% in 2020, from US$1,2 billion the previous year.Figures recently released by the Zimbabwe National Statistics Agency (ZimStat), capturing data ...Published: 18 Jan 2021 at 06:03hrs | 1420 | by Staff reporter
Zimbabwe's agriculture seen recovering despite challenges
ZIMBABWE should enjoy a decent harvest for all crops in the current season due to good rains that have been consistent in the past few weeks, farmers' organisations say.A good harvest for grai...Published: 14 Jan 2021 at 11:48hrs | 377 | by Staff reporter
Zimdollar maintains stability after first auction of the year
THE Foreign Currency Auction Trading System resumed activity after the festive season break with the Zimbabwe dollar maintaining stability despite marginally weakening by 0,44 percent from an exchange...Published: 12 Jan 2021 at 17:58hrs | 1634 | by Staff reporter
Forex auction resumes
THE Foreign Currency Auction Trading System resumes today after the festive season break amid expectations the exchange rate will have less pressure as demand for forex is traditionally low during thi...Published: 12 Jan 2021 at 08:38hrs | 325 | by Staff reporter
Zimbabwe's economic outlook for 2021
Zimbabwe's economy ended the year 2020 on a fairly stable note due to the return of the multi-currency regime and decline in general inflation levels in the market. Headwinds caused by incessant power...Published: 08 Jan 2021 at 21:02hrs | 1267 | by Victor Bhoroma
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 | 239 | by Staff reporter
Zimbabweans see gloomy 2021
ZIMBABWEANS are not enthused about the New Year, 2021, and see no improvement in the social, economic and political problems that bedevilled the country throughout 2020.Most people entered January...Published: 01 Jan 2021 at 07:45hrs | 330 | by Staff reporter
Surge in prices exposes profiteering businesses
THE recent surge in prices witnessed across a range of basic products is an indication of attempts at "profiteering" by businesses taking advantage of firm demand despite the strain of Covid-19. ...Published: 31 Dec 2020 at 10:32hrs | 169 | by Staff reporter
Harare-Beitbridge road rehab on course
SEAMLESS progress is taking place in the construction of the Harare-Beitbridge Highway, with Phase One close to completion after local companies that have been contracted to work on the road delivered...Published: 27 Dec 2020 at 07:04hrs | 429 | by Staff reporter
Bread price jumps 13,8%
THE price of a standard loaf of bread has risen by 13,8 percent this week to $82 from $72 and consumers feel the move is not justified. Some retailers, who had already effected the latest pric...Published: 25 Dec 2020 at 07:11hrs | 1006 | by Staff reporter
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