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Why Mnangagwa has failed to improve the economic prospects of Zimbabwe?
It is now more than two years since President ED Mnangagwa assumed power with an ostensible mandate from his backers to improve the country's economic fortunes, the nemesis of his predecessor, RG Muga...Published: 10 hrs ago | 254 | by Martin
EcoCash leaves consumers stranded
EcoCash services remained intermittent or non-available yesterday, causing major business losses and much hardship since the platform handles 85 percent of Zimbabwe's transactions and 99 percent of mo...Published: 20 Nov 2019 at 04:02hrs | 1785 | by Staff reporter
EcoCash post upgrade off to bumpy start
Giant mobile phone operator Econet says it has successfully upgraded its Ecocash platform although users are having challenges to transact.Econet announced that week that it was carrying...Published: 18 Nov 2019 at 18:20hrs | 3174 | by Staff Reporter
Zimbabwe to turn Victoria Falls into regional financial centre?
VICTORIA Falls should be turned into a regional financial centre for the Southern African Development Community as its tourism facilities mean it can attract the right clientele that can push the indu...Published: 17 Nov 2019 at 05:25hrs | 476 | by Staff reporter
Zimbabwe to enforce 'use it or lose it' policy for mining assets
Zimbabwe will vigorously enforce a policy to force companies to develop their mining assets and not keep the land for speculative purposes, Mines minister Winston Chitando said on Wednesday.Ch...Published: 15 Nov 2019 at 06:32hrs | 386 | by Staff reporter
Huge demand for cash
Depositors, who formed long queues at banks and building societies, were withdrawing new coins and notes yesterday after the Reserve Bank of Zimbabwe (RBZ) released the first $30 million on Monday, bu...Published: 13 Nov 2019 at 06:25hrs | 746 | by Staff reporter
Gweru forex dealer acquitted
A 35-YEAR-OLD Gweru man was last week acquitted on charges of illegally dealing in foreign currency.Paradzanai Hamanu of Mkoba 11 appeared before magistrate Edwin Marecha facing a charge of il...Published: 12 Nov 2019 at 07:18hrs | 800 | by Staff reporter
Mthuli Ncube to present $28,5 billion budget
FINANCE and Economic Development Minister Professor Mthuli Ncube is set to present the 2020 national Budget on Thursday, with industry and citizens expecting better economic fortunes following the num...Published: 11 Nov 2019 at 06:28hrs | 481 | by Staff reporter
Inflation out of control: Guvamatanga
Finance ministry permanent secretary George Guvamatanga has revealed that the government is not considering removing the 2% tax on mobile transactions despite criticism that it is fuelling inflation....Published: 10 Nov 2019 at 08:46hrs | 905 | by Staff reporter
Zimbabwe's money merry go-round
Zimbabwe is trying everything in the book to address a currency crisis that has undermined its productive capacity and threatened its economic sustainability. But its measures so far seem to have had ...Published: 10 Nov 2019 at 08:45hrs | 245 | by Staff reporter
Policy inconsistency dogs economy
ZIMBABWE is again back in the jaws of policy inconsistency and discord, which characterised the late president Robert Mugabe's administration, pushing away foreign direct investment as a result, analy...Published: 10 Nov 2019 at 08:44hrs | 78 | by The Standard Editorial comment
Indian dealer kidnapped over forex
An Indian man accused swindling foreign currency dealers of US$765 000 is now claiming that he was kidnapped, forcibly bundled into a car boot and taken to an unknown place where he was assaulted....Published: 06 Nov 2019 at 17:56hrs | 1568 | by Staff reporter
Mzilikazi armed robber nabbed in Masvingo
A BULAWAYO armed robber opened fire and missed an illegal forex currency dealer in a failed robbery in Masvingo leading to his arrest. Nkosiphila Sibanda (30) of Mzilikazi suburb opened fire a...Published: 05 Nov 2019 at 06:47hrs | 1699 | by Staff reporter
Mnangagwa to headline economic indaba
President Mnangagwa headlines an economic and financial indaba in Harare on Thursday, which is set to deliberate on solutions to the country's economic challenges, including foreign currency shortages...Published: 05 Nov 2019 at 06:43hrs | 254 | by Staff reporter
Forex dealers lose US$765k to fraudsters
Eight currency dealers allegedly lost US$765 000 to suspected fraudsters in a botched illegal transaction in Harare last week. The alleged client, Munir Kamruddin Kazi, requested for United St...Published: 05 Nov 2019 at 06:37hrs | 1760 | by Staff reporter
Interbank rate stable in October
The Zimbabwe dollar remained largely stable in the month of October, with the interbank foreign exchange rate shifting by a marginal 3,1 percent from 15,1979 to the United States dollar on September 3...Published: 04 Nov 2019 at 05:47hrs | 967 | by Staff reporter
Mnangagwa ally lays into minister
A Zanu-PF youth leader has accused a deputy minister of sabotaging President Emmerson Mnangagwa's economic reforms by refusing to embrace the local currency, in yet another sign of widening rifts in t...Published: 03 Nov 2019 at 06:55hrs | 2769 | by Staff reporter
Air Zimbabwe starts billing in forex
NATIONAL airline, Air Zimbabwe has announced that it has started billing foreigners in foreign currency with immediate effect.However, locals, the company said, will continue to be billed in l...Published: 03 Nov 2019 at 06:39hrs | 556 | by Staff reporter
It's proper bank notes, not new currency
Many could have mistaken plans by the Reserve Bank of Zimbabwe (RBZ) to introduce new notes and coins next week for the introduction of a completely new currency which is not the Zimbabwe dollar....Published: 03 Nov 2019 at 06:34hrs | 673 | by Staff reporter
No need for Press briefing from Government Ministers, Set a Development agenda !!!
Zimbabwe Government Ministers have reduced themselves to journalists in a war room instead of adopting statesmanship rules. I watched yesterday press briefing and I was embarrassed. There is no need t...Published: 01 Nov 2019 at 13:58hrs | 984 | by Tinashe Eric Muzamhindo
The Zimbabwe dollar won't gain any confidence
Reserve Bank of Zimbabwe governor John Mangudya announced this week the introduction in a fortnight of new currency notes. Mangudya said the denominations, comprising of ZW$2 and ZW$5 notes and $2 bon...Published: 01 Nov 2019 at 06:47hrs | 1156 | by Faith Zaba
Mnangagwa's govt scrambles to save US$1bn Chinese deals
GOVERNMENT officials were this week nervously scrambling to salvage three big Chinese-funded infrastructural projects totalling US$1,324 billion, which are on the verge of collapse after US$10 million...Published: 01 Nov 2019 at 06:44hrs | 799 | by Staff reporter
RBZ to inject $1 billion new coins, notes
Cash in circulation will slightly more than double over the next six months, as the Reserve Bank of Zimbabwe (RBZ) injects an extra $1 billion to satisfy legitimate demand for coins and small notes, b...Published: 01 Nov 2019 at 06:24hrs | 620 | by Staff reporter
Zimbabwe's not so new currency
News about a pending currency coming to the market in a fortnight made headlines on Tuesday even as it abated confusion over the reintroduction of the currency in question. The confusion pertains to w...Published: 31 Oct 2019 at 07:19hrs | 744 | by Respect Gwenzi
New $5 notes, $2 coins to stop cash barons
New $5 notes and $2 coins will be in circulation within a fortnight to ease cash shortages that have resulted in cash barons charging premiums of up to 60 percent and the unscrupulous breaking of the ...Published: 30 Oct 2019 at 05:48hrs | 3047 | by Staff reporter
Metro Peech and Browne Wholesalers introduce Bureaux de Change across 17 branches nationwide
A leading wholesaler in Zimbabwe, Metro Peech and Browne Wholesalers, has installed 17 new Bureaux de Change to deliver convenient foreign currency exchange solutions for customers across the country....Published: 29 Oct 2019 at 10:59hrs | 1280 | by Staff reporter
Forex market stabilising: RBZ
According to the Reserve Bank of Zimbabwe in its mid-term Monetary Policy Statement, activity on the interbank foreign exchange market has increased since its introduction in February 2019. Th...Published: 29 Oct 2019 at 06:35hrs | 1305 | by Staff reporter
Zimbabwe govt gets edge in transfer pricing war
Zimbabwe has closed loopholes in its transfer pricing legislation, in a development that will curb illegal foreign currency outflows amid reports US$1,1 billion could have been siphoned out through su...Published: 28 Oct 2019 at 06:34hrs | 589 | by Staff reporter
Mnangagwa survives on lies and deception
Taking everyone for a fool is a risky political gamesmanship that sobers up despots sitting on the false comfort of illusions. Emmerson Mnangagwa, a masquerade of a president thinks that his cruelty a...Published: 27 Oct 2019 at 19:41hrs | 3419 | by Job Wiwa Sikhala
LISTEN: Chiwenga's ex-wife threatens businessman after refusing to pay for batteries
A shocking audio recording has emerged of controversial motor-mouth Jocelyn Chiwenga, the ex-wife of Vice President Constantino Chiwenga, bullying a Harare businessman named Mapfumo and refusing to pa...Published: 27 Oct 2019 at 19:36hrs | 9916 | by Staff reporter
BCC faces lawsuits over US$ contracts
THE Bulawayo City Council (BCC) says it is being sued by several companies for failing to pay them in United States dollars as per contractual agreements.BCC concluded a number of contracts wi...Published: 26 Oct 2019 at 07:37hrs | 364 | by Staff reporter
Where is the Cryptocurrency industry headed?
Whether you are an online investor or you just run a small online-based home business, there is a go...Published: 22 Oct 2019 at 12:30hrs | 1899 | by Staff writer
Mthuli Ncube's 2020 budget headache
Parliament says structuring next year's budget presents a serious headache as the imploding economy continues to be saddled by runaway inflation and skyrocketing prices stemming from currency volatili...Published: 22 Oct 2019 at 07:19hrs | 2786 | by Staff reporter
Zanu-PF illicit forex deals exposed
Zanu-PF bought its fleet of luxury vehicles and colourful regalia used during last year's election campaign through a company that was recently blacklisted by the Reserve Bank of Zimbabwe (RBZ) for al...Published: 20 Oct 2019 at 23:54hrs | 5463 | by Staff reporter
Cartels killing the Zimbabwe economy
President Emmerson Mnangagwa has promised to take out the whip on business for the current price madness. That, predictably, is a good idea.If things go according to his plan - most of the tim...Published: 20 Oct 2019 at 23:50hrs | 1555 | by Tawanda Majoni
Judiciary is compromised: An insider's view of the justice system
Celebrated human rights lawyer Beatrice Mtetwa says interference by the executive in the operations of the country's judiciary has compromised the justice system.Mtetwa (BM) told Alpha Media H...Published: 20 Oct 2019 at 23:48hrs | 314 | by Staff reporter
600MW Hwange plant takes shape
WORK on the expansion of the Hwange Power Station Stage 7 and 8 expansion is on track with 26 percent ground work having been covered so far, Sunday Business has learnt.The Government contract...Published: 20 Oct 2019 at 23:43hrs | 232 | by Staff reporter
Mthuli Ncube cut his nose to spite his face
ZIMBABWE businesses, grappling with the realities of hyperinflation and exchange rate induced losses, have pressed the panic button over worsening macro-economic conditions in the country, with severa...Published: 18 Oct 2019 at 18:26hrs | 2378 | by Phillimon Mhlanga
Mthuli Ncube to pull a few tricks to stabilise the exchange rate
The government will pull a few tricks up its sleeves soon to stabilise the exchange rate as part of a broader task of creating a viable environment for business, Business Times reported.A team...Published: 18 Oct 2019 at 17:35hrs | 13076 | by Staff reporter
World Bank says Zimbabweans should brace for misery
The World Bank has warned that Zimbabwe's economy faces massive turmoil unless the country gets much-needed international assistance urgently. This comes as the country is currently going thro...Published: 18 Oct 2019 at 05:31hrs | 741 | by Staff reporter
RBZ's currency policy doomed to fail
THE latest move by the Reserve Bank of Zimbabwe (RBZ) to manage the exchange rate yet again is another experiment doomed to fail as laws of supply and demand will prevail.Economists say Zimbab...Published: 18 Oct 2019 at 05:28hrs | 1807 | by Staff reporter
Mnangagwa's economy to contract 7,2%, says IMF
The International Monetary Fund (IMF) has widened its estimated contraction for Zimbabwe's economy to 7,1% by year end owing to worsening macro-economic challenges.Previously, the IMF had pred...Published: 16 Oct 2019 at 16:17hrs | 12 | by Staff reporter
Zimdollar crashes further
THE Zimbabwean dollar this week continued its downward spiral after a momentary lull last week following the central bank moved to freeze bank accounts of companies believed to be exerting downward pr...Published: 15 Oct 2019 at 18:39hrs | 739 | by Staff reporter
Questions arising from Treasury's strategy paper
THREE official documents published in recent weeks paint a different, but fundamentally depressing pictures of Zimbabwe's economy. All pose more questions than answers, leaving readers to ponder the m...Published: 15 Oct 2019 at 06:54hrs | 782 | by Tony Hawkins
Parliament probes botched govt truck deal
SOLUTIONS Motors owner Patrick Siyawamwaya yesterday came under fire in Parliament after his company got a US$518 850 contract from the Department of Irrigation to supply 10 trucks in 2017, but only s...Published: 15 Oct 2019 at 06:49hrs | 261 | by Staff reporter
Chemplex to supply water chemicals to all local authorities
Government has reappointed Chemplex Corporation, the country's largest chemical and fertiliser maker as the sole water chemicals' provider for all local authorities as a measure to promote import subs...Published: 14 Oct 2019 at 14:25hrs | 660 | by Staff reporter
Grace Mugabe's problems mount by the day
Former first lady Grace Mugabe risks losing one of the properties that forms part of her family's sprawling residence in Harare's leafy suburb of Borrowdale - famously referred to as the Blue Roof - f...Published: 14 Oct 2019 at 07:12hrs | 21610 | by Staff reporter
RBZ clarifies position on forex withdrawals
THE withdrawal of individual free funds remains permissible in hard currency and the funds can be retained in Foreign Currency Accounts (FCA) indefinitely as rules have not changed, the Reserve Bank o...Published: 12 Oct 2019 at 10:27hrs | 1625 | by Staff reporter
Business defies Govt, still trading in forex
IN flagrant violation of Statutory Instrument (SI) 212 of 2019 Exchange Control (Exclusive Use of Zimbabwe dollar for Domestic Transactions), defiant traders in Harare are still charging their product...Published: 12 Oct 2019 at 10:25hrs | 479 | by Staff reporter
This regime must desist from corruption in agriculture
Recent announcements by the government, that it would disburse $2.8 billion for the Command Agriculture and issuing some $300 million in Treasury bills is a serious cause for concern, judging by the m...Published: 11 Oct 2019 at 14:34hrs | 647 | by Rusty Markham
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