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Govt okays forex only school fees
THE Government will not stand in the way of schools that decide to charge fees exclusively in foreign currency as long as there is consensus among parents and guardians of learners, an official has sa...Published: 27 Nov 2022 at 13:14hrs | 440 | by Staff Reporter
Mthuli Ncube raises VAT, restores duty on basics
Finance minister Mthuli Ncube unveiled his 2023 budget on Thursday, raising value added tax (VAT) in a move the main opposition Citizens Coalition for Change (CCC) described as "an attack on working p...Published: 25 Nov 2022 at 05:21hrs | 9979 | by Staff reporter
Civil servants get lion's share
SALARIES for civil servants are set to go up markedly after the Government allocated the biggest chunk of the 2023 National Budget towards the public sector wage bill to cushion workers from the negat...Published: 25 Nov 2022 at 05:05hrs | 502 | by Staff reporter
Zimbabwe miners in urgent plea for forex
THE Chamber of Mines of Zimbabwe says it is engaging authorities to come up with mechanisms that can accommodate the foreign currency requirements for the sector as shortages are weighing down the sec...Published: 24 Nov 2022 at 04:59hrs | 375 | by Staff reporter
Mnangagwa to deliver SONA from new Parliament Building
PRESIDENT Mnangagwa is expected to deliver the State of the Nation Address (SONA) tomorrow while officially opening the last session of ninth Parliament ahead of the 2023 national polls.Analys...Published: 22 Nov 2022 at 04:52hrs | 401 | by Staff reporter
Zimdollar has made citizens poorer
WE can't progress if we don't accept reality and correct our shortcomings. It's a fact that the Zimdollar has brought more problems to our sick economy.The Zimdollar prescription is adding mor...Published: 21 Nov 2022 at 04:57hrs | 408 | by Patriot
Zimdollar facing headwinds
For weeks, we have been told that the forex rates from both the official and parallel markets were stabilising and that this would mean inflation would soon follow.But, if the movement of the ...Published: 14 Nov 2022 at 05:14hrs | 1117 | by Staff reporter
RBZ allocates US$3 billion to businesses
THE Reserve Bank of Zimbabwe says US$3 billion has been allotted to businesses through the RBZ forex auction since its inception in 2020.In a statement yesterday, RBZ Governor, John Mangudya s...Published: 11 Nov 2022 at 05:15hrs | 244 | by Staff reporter
Businesses reject the $20 bill in Bulawayo
TRANSPORT operators and most shops in Bulawayo are now rejecting the $20 bill although it is still legal tender in the country.Only big supermarkets like OK Zimbabwe, PicknPay, Choppies, and S...Published: 10 Nov 2022 at 04:56hrs | 566 | by Staff reporter
Harare pegs 2023 rates in forex
Harare City Council yesterday announced its 2023 budget that has rates indexed in US dollars with a high-density suburban holder set to fork out a minimum of US$23,15 in rates and fees a month, althou...Published: 10 Nov 2022 at 04:54hrs | 327 | by Staff reporter
Gold deliveries clock 29,46 tons in 10 months
THE country's gold mining sub-sector continues to increase its output with formal gold deliveries to Fidelity Printers and Refiners clocking close to a cumulative 29,46 tons between January to October...Published: 09 Nov 2022 at 05:09hrs | 166 | by Staff reporter
Civil servants' bonuses to be paid 100 percent in forex
CIVIL servants will this year be paid 100 percent of their annual bonus in foreign currency but the payment will be spread over two months starting this month.Fifty percent of the bonuses will...Published: 08 Nov 2022 at 05:05hrs | 596 | by Staff reporter
BCC unveils US$158m budget
BULAWAYO City Council (BCC) yesterday unveiled its US$157,99 million revenue budget and is proposing to set aside US$106 million to fund key infrastructural development projects that include construct...Published: 01 Nov 2022 at 05:07hrs | 104 | by Staff reporter
Zimbabwe's new multi-billion industrial hub to create 25 000 jobs
A NEW industrial energy hub worth over US$13 billion that is set to create more than 25 000 jobs will soon be running in Mapinga Mashonaland West province in yet another transformative initiative from...Published: 01 Nov 2022 at 05:05hrs | 688 | by Staff reporter
Stern warning for errant schools
Zanu-PF has expressed concern over the deaths of pupils in schools, extra lessons, and the charging of exorbitant fees including some exclusively in foreign currency.This is contained in the p...Published: 31 Oct 2022 at 04:50hrs | 293 | by Staff reporter
Zimbabwe exporters object to latest forex electricity tariff
THE Confederation of Zimbabwe Industries (CZI) has requested an urgent electricity tariff meeting between exporters, energy bodies and the Government to clarify several operational issues emanating fr...Published: 28 Oct 2022 at 06:23hrs | 184 | by Staff reporter
Platinum seen as Zimbabwe's mainstay for foreseeable future
PLATINUM is likely to be Zimbabwe's mainstay in the foreseeable future considering the way platinum firms operating in the country are investing in new mines and smelters to increase production and su...Published: 24 Oct 2022 at 06:11hrs | 272 | by Staff reporter
Zimbabwe police boss under fire for protecting Chinese national
POLICE assistant commissioner Jealous Nyabasa and his subordinates are being accused of protecting a Chinese national Li Song who is being accused of fraud, forgery and externalising of foreign curren...Published: 24 Oct 2022 at 06:11hrs | 601 | by Staff reporter
Big energy users to import 500MW
Zesa is set to import more power to meet demand from the country's biggest energy consumers — the Intensive Energy Users Group (IEUG) — who require more than 500 megawatts (MW) to run their operat...Published: 09 Oct 2022 at 07:50hrs | 110 | by Staff reporter
China pledges more investment support to Zimbabwe
MORE Chinese companies are expected to invest in Zimbabwe if high quality products are introduced, Chinese Ambassador to Zimbabwe Guo Shaochun said last Friday.Addressing delegates in Harare a...Published: 04 Oct 2022 at 06:13hrs | 310 | by Staff reporter
Bulawayo gets paltry US$14m out of required US$700m for roads rehabilitation
Bulawayo City Council (BCC) has received US$14,1million aimed at rehabilitating 38km of the road network in the city, but needs over US$700million for an overhaul of the entire system.Roads in...Published: 02 Oct 2022 at 09:02hrs | 57 | by Staff reporter
Zimbabwe's foreign currency receipts hit US$7,7 billion mark
ZIMBABWE's foreign currency receipts have reached US$7, 7 billion, thereby marking a significant increase if compared to the same period last year.The development indicates the existence of re...Published: 02 Oct 2022 at 09:02hrs | 106 | by Staff reporter
China to continue support Zimbabwe's development
China will continue to support Zimbabwe's economic and social development and improve its capacity for self-generated development, Chinese Ambassador to Zimbabwe Guo Shaochun said on Friday.Gu...Published: 01 Oct 2022 at 06:16hrs | 262 | by Staff reporter
RBZ allows companies to buy up to US$100 000 weekly
THE Reserve Bank of Zimbabwe has moved to allow companies to purchase up to US$100 000 per week from local banks for purposes of undertaking bona fide payments and moved to maintain the current intere...Published: 01 Oct 2022 at 06:15hrs | 446 | by Staff reporter
Zimdollar, US dollar exchange rate cleavage narrows
THE narrowing of the gap between parallel market and official exchange rates from an elevated level of 140 percent in May to current levels of between five percent and 15 percent is a significant move...Published: 29 Sep 2022 at 05:56hrs | 1528 | by Staff reporter
Harare City Council resumes US dollar charges
THE Harare City Council (HCC) has reissued its request for United States dollars (US$) payments for on-demand services after it stopped taking foreign currency due to a Reserve Bank of Zimbabwe (RBZ) ...Published: 27 Sep 2022 at 05:53hrs | 493 | by Staff reporter
LSU procurement rocked by serious irregularities because of non qualified leadership
Lupane State University is one of the Universities that offer a Degree in Supply Chain Management, but its Procurement Management unit (PMU) is poorly managed as a non-procurement was assigned to over...Published: 23 Sep 2022 at 12:17hrs | 1125 | by Stephen Jake
Calls for probe into Parly US$9 264,48 laptops saga
CIVIL society organisations (CSOs) and legislators have called on Auditor-General Mildred Chiri to carry out a forensic audit on how Parliament approved acquisition of 173 laptops and 79 desktops whic...Published: 21 Sep 2022 at 06:04hrs | 384 | by Staff reporter
Zimdollar shortage bites
THE government will today give an update on contracts it suspended last month pending a pricing review as pressure mounts for it to honour its obligations.Last month, as part of measures to sa...Published: 21 Sep 2022 at 06:02hrs | 2859 | by Staff reporter
Zimdollar to further strengthen?
The Zimbabwe dollar is likely to strengthen as extra strands in the policies to decrease the amount of local currency in bank accounts, while increasing the amount of foreign currency in official mark...Published: 20 Sep 2022 at 06:02hrs | 763 | by Staff reporter
Zanu-PF stretching the truth on prices
YOU know we are in the election season when the Zanu-PF government starts lauding itself over non-existent economic improvements.The latest self-praise comes from the Treasury, the Reserve Ban...Published: 19 Sep 2022 at 06:01hrs | 501 | by Staff reporter
Treasury blows whistle on plot to loot public funds
ZIMBABWE'S Treasury has exposed a calculated plot to loot public funds through an inflated tender awarded by Parliament to two companies which are charging astronomical prices for the supply of laptop...Published: 18 Sep 2022 at 16:57hrs | 948 | by Staff reporter
Zacc goes after schools refusing local currency
THE Government has advised parents to report schools that are refusing fees in local currency to the Zimbabwe Anti-Corruption Commission (Zacc), saying doing so was a breach of the learners' constitut...Published: 18 Sep 2022 at 16:51hrs | 86 | by Staff reporter
BREAKING: stand-off between Police and suspected armed robbers at Fidelity Building
There are reports of a stand-off between Police and suspected armed robbers at Fidelity Building in Bulawayo.Ezra Tshisa Sibanda reporting on his Facebook page that: Ther...Published: 17 Sep 2022 at 13:11hrs | 5083 | by Staff Reporter
Get Started with Forex Day Trading: Forex Trading Guide for Amateurs
Foreign exchange, sometimes known as "forex," is the exchange of currencies between buyers and sellers in a network at a specified price. It is a method used by people, businesses, and central banks t...Published: 16 Sep 2022 at 06:12hrs | 171 | by Staff reporter
Zimdollar exchange rate stability false, economists warn
ECONOMISTS yesterday warned that the current exchange rate stability, which is largely a result of local currency shortages on the market is "false" and will be short-lived.Economist Eddie Cro...Published: 15 Sep 2022 at 05:55hrs | 1287 | by Staff reporter
Zimdollar slides to $604.2 against US dollar
THE Reserve Bank of Zimbabwe (RBZ) has allotted a combined US$15, 625 million to the main and Small and Medium Enterprise (SMEs) foreign exchange platforms this week, a slight increase from last week'...Published: 14 Sep 2022 at 05:46hrs | 456 | by Staff reporter
Zimbabwe has 2nd highest rising food prices, claims WB
THE World Bank says Zimbabwe has the second highest food prices in the world after it recorded a real food inflation annual rate of 52.In an update dated August 11, 2022, released on Sat...Published: 05 Sep 2022 at 06:40hrs | 706 | by Staff reporter
Qoki Zindlovukazi constructs 200 townhouses
QOKI Zindlovukazi is building more than 200 townhouses in Bulawayo that will accommodate its founders, who are diaspora-based Zimbabwean women, once they retire from their jobs overseas.The co...Published: 05 Sep 2022 at 06:39hrs | 957 | by Staff reporter
UK firm discovers nickel in Bulawayo
United Kingdom-based Galileo Resources has announced the discovery of potential nickel targets at its Bulawayo gold project following the recently conducted airborne geophysical survey on its two excl...Published: 01 Sep 2022 at 06:29hrs | 1186 | by Staff reporter
Illegal forex dealer fined $10 million
Local company, Tererati (Pvt) Limited, involved in illegal foreign currency deals during 2020 in Harare using EcoCash agent lines, was fined $10 498 300 yesterday after admitting to making the illicit...Published: 27 Aug 2022 at 05:59hrs | 262 | by Staff reporter
Mnangagwa moves to calm Zimbabwe investors
PRESIDENT Emmerson Mnangagwa this week moved to calm market concerns over the obtaining business climate, as he gave fresh undertakings to iron out hurdles to investment under his "Zimbabwe is Open fo...Published: 26 Aug 2022 at 20:47hrs | 635 | by Staff reporter
Outcry over US$ school fees
PARENTS have expressed concern over a decision by some schools to peg half of their school fees in foreign currency, mainly the United States dollar (US$).Schools open on September 3, 2022 for...Published: 24 Aug 2022 at 06:47hrs | 979 | by Staff reporter
Zimbabwe govt officials should first declare assets
BEFORE Finance minister Mthuli Ncube asks us to declare where our foreign currency is coming from when we bring in foodstuffs and household goods from outside the country, the leadership of Zimbabwe s...Published: 23 Aug 2022 at 06:29hrs | 530 | by Concerned
Zanu-PF MP demands 'ChineseMustGo' police operation
A Zanu-PF legislator has called for a 'MaChina Ngaande' (the Chinese Must Go!) police operation amid increasing concern over abuse of workers, wanton flouting of laws, and smuggling by Chinese compani...Published: 18 Aug 2022 at 06:48hrs | 3656 | by Staff reporter
How to legally own a firearm in Zimbabwe
FOLLOWING the firearm amnesty granted by President Mnangagwa last week for people to surrender unregistered firearms and ammunition, police yesterday explained how a person gets to own a firearm in Zi...Published: 18 Aug 2022 at 06:43hrs | 1133 | by Staff reporter
Interest rate hike haunts black market kingpins
Interventions by the Reserve Bank of Zimbabwe (RBZ) to stem prolonged currency battering have sent black market rates tumbling by over 50 percentage points within a month, Inter Horizon Securities (IH...Published: 16 Aug 2022 at 06:40hrs | 1198 | by Staff reporter
Zimbabwe central bank declares victory
THE Reserve Bank of Zimbabwe (RBZ) says as of last Wednesday, 4 475 gold coins valued at $3,7 billion had been bought with 90% being local currency purchases, a move it says has cooled the galloping p...Published: 15 Aug 2022 at 06:40hrs | 911 | by Staff reporter
Bulawayo forex discounts endorsed
BULAWAYO residents are going to get a 50 percent discount for settling their rates in foreign currency, while industries will have a 30 percent discount after councillors endorsed the resolution which...Published: 14 Aug 2022 at 07:20hrs | 263 | by Staff reporter
RBZ strangles street money changers
They don't know what has suddenly hit them. It is no longer business as usual for most, if not all, illegal street money changers.They used to call the shots in the last few months, de...Published: 13 Aug 2022 at 07:23hrs | 1293 | by Staff reporter
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