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'Trade in forex, pay tax in forex'
The Zimbabwe Revenue Authority has directed businesses that are trading in multi-currencies to remit taxes in the same currency in which the goods have been sold. "Zimbabwe Revenue Authority h...Published: 17 hrs ago | 849 | by Staff reporter
Mpilo Hospital sends out SOS after fire
MPILO Central Hospital is appealing for assistance to rebuild destroyed buildings after an inferno engulfed doctors' quarters on Saturday afternoon. The hospital board chairperson Mrs Sicheles...Published: 17 hrs ago | 777 | by Staff reporter
Schools demand top up fees
SOME boarding schools in Bulawayo, Matabeleland North and South provinces have written to parents demanding that they pay school fees top ups for the remaining three weeks of the term to cater for foo...Published: 18 Nov 2018 at 08:13hrs | 903 | by Staff reporter
Zimbabwe must adopt the rand, says Fitch Solutions
ZIMBABWE must adopt the South African Rand to deal with the worsening currency crisis caused by the shortage of United States dollars, an international research firm has said. United Kingdom-b...Published: 18 Nov 2018 at 07:46hrs | 1221 | by Staff reporter
Currency options for crisis-ridden Zimbabwe
Zimbabwe needs to introduce a hybrid foreign currency management system or create a long maturity US$ Brady type bond to preserve savings amid the currency chaos, renowned economist Ashok Chakravarti ...Published: 18 Nov 2018 at 07:45hrs | 778 | by Staff reporter
Packaging manufacturers backtrack on decision to sell in forex: Millers
MILLERS have said manufacturers of packaging materials have agreed to reverse their decision to sell their products in foreign currency while also revising downwards prices payable in RTGS.Gra...Published: 17 Nov 2018 at 06:49hrs | 595 | by Staff reporter
Wutawunashe petitions Trump over sanctions
On Friday Family of God leader Reverend Andrew Wutawunashe in partnership with National Elders Forum today launched an anti-sanctions initiative dubbed Faith for the Nation Campaign....Published: 16 Nov 2018 at 15:10hrs | 2370 | by Mandla Ndlovu
'Mnangagwa crackdown on money changers futile'
The crackdown on black market currency trading to curb a parallel market blamed for the spike in prices is not enough to address the problem, economists said yesterday.This comes as there has ...Published: 16 Nov 2018 at 12:31hrs | 6531 | by Staff reporter
Bulawayo City Council wants to charge in forex
THE Bulawayo City Council has formulated a policy designed to raise foreign currency through giving a 50 percent discount to individuals who pay bills in United States dollars after service providers ...Published: 16 Nov 2018 at 05:35hrs | 1724 | by Staff reporter
Zimbabwe should start embracing agrobusiness as priority of turning around the economy
Agriculture have to be in the centre stage in plans for the revival of Zimbabwe's ailing economy. Getting agriculture moving in Zimbabwe is a big task. The radical land reform of 2000 has left many ou...Published: 15 Nov 2018 at 14:02hrs | 844 | by Enos Denhere
Illicit trade in foreign currency must cease
Recent action by government in which it imposed 10-year custodial sentences on illegal foreign currency dealers was overdue although more should be done to exterminate the practice completely....Published: 15 Nov 2018 at 12:55hrs | 1304 | by Staff reporter
Mnangagwa to monitor companies allocated forex by RBZ
GOVERNMENT has proposed the establishment of a Foreign Currency Utilisation Monitoring Mechanism to monitor companies that receive foreign currency from the central bank.Addressing a Press bri...Published: 15 Nov 2018 at 06:00hrs | 2487 | by Staff reporter
A timeline of how Zimbabwe lost its currency
Today, November 14, marks the 21st anniversary of "Black Friday", the day the Zimbabwe dollar crashed in 1997.We track the Zimdollar's collapse from that fateful November day, and the many des...Published: 14 Nov 2018 at 15:10hrs | 3060 | by newZwire with The Source
Illegal forex traders desert their usual selling points
The hordes of illegal foreign currency traders who had made the streets of Harare their home are increasingly becoming a rare sight, as President Emmerson Mnangagwa's abatement measures take effect....Published: 14 Nov 2018 at 13:39hrs | 4042 | by Staff reporter
Zimbabweans to explain deposits of more than $10,000
President Emmerson Mnangagwa has promulgated Statutory Instrument 246 of 2018, Presidential Powers (Temporary Measures) Amendment of Money Laundering & Proceeds of Crime Act & Exchange Control...Published: 14 Nov 2018 at 12:54hrs | 13048 | by Ndou Paul
Mnangagwa begins tracking 'ill-gotten wealth'
GOVERNMENT has promulgated Statutory Instrument 246 of 2018, which will see illegal currency traders being sentenced to up to 10 years in jail. The regulations - Presidential Powers (Temporary...Published: 14 Nov 2018 at 06:02hrs | 2592 | by Staff reporter
Fake brown bread on the market
Some unscrupulous bakers are reportedly colouring white flour brown in making bread as a substitute to using brown flour, NewsDay reported.The difference between colouring white flour brown an...Published: 14 Nov 2018 at 05:52hrs | 1445 | by Staff reporter
Foreign suppliers threaten TelOne services over $18m debt
STATE-OWNED telecoms operator, TelOne, has been threatened with service disruption by critical foreign suppliers, who include West Indian Ocean Cable Company (Wiocc) and China-EximBank, among others, ...Published: 14 Nov 2018 at 05:43hrs | 266 | by Staff reporter
Bulawayo residents welcome move on illegal forex dealers
Ordinary citizens in Bulawayo have commended President Emmerson Mnangagwa for invoking the Presidential Powers Temporary Measures Amendment of Money Laundering and Proceeds of Crime Act and the Exchan...Published: 13 Nov 2018 at 19:04hrs | 5706 | by Staff reporter
Miners to retain 55% export earnings
THE Reserve Bank of Zimbabwe (RBZ) has agreed to increase large scale miners' retention of foreign currency from mineral exports to 55 percent to allow them to cover production costs. Recently...Published: 13 Nov 2018 at 05:52hrs | 341 | by Staff reporter
Mthuli Ncube trims monthly fiscal budget deficit
TREASURY has scored excellent progress in trimming monthly fiscal budget deficit as part of Government's economic reform agenda with September 2018 deficit reduced to $19 million against a target of $...Published: 13 Nov 2018 at 05:50hrs | 843 | by Staff reporter
Beer price back to normal
Beer price which had more than doubled over the past weeks has normalised, while charges for other beverages have also significantly come down.A pint of beer had shot up to $5 owing to panic b...Published: 12 Nov 2018 at 18:19hrs | 5327 | by Staff reporter
1 year after Mugabe fall, Zimbabwe asks 'What has changed?'
One year ago the unthinkable happened in Zimbabwe: Robert Mugabe fell from power.Tanks rolled in the streets of the capital, Harare, on November 14, 2017, and the military put Mugabe under hou...Published: 12 Nov 2018 at 14:25hrs | 1956 | by AP
Strive Masiyiwa opts out as Econet profits surge
After tax profits in Econet Wireless spiked, propped up by increased uptake of data and fintech services although founder, Strive Masiyiwa has now opted out of the day-to-day board functions of the co...Published: 12 Nov 2018 at 06:19hrs | 11264 | by Staff reporter
'Diasporans should pay for Air Zimbabwe services in US$'
CABINET has resolved that Zimbabweans living in the diaspora should pay for Air Zimbabwe services in United States dollars, Transport and Infrastructural Development minister Joel Biggie Matiza has sa...Published: 12 Nov 2018 at 05:37hrs | 1376 | by Staff reporter
Enough fuel for festive season, says Minister
ENERGY and Power Development Minister Dr Joram Gumbo has assured the nation of enough fuel supplies during the forthcoming festive season. In an interview on the sidelines of the just ended 20...Published: 12 Nov 2018 at 05:28hrs | 184 | by Staff reporter
Govt seeks investor for Air Zimbabwe
GOVERNMENT will this week float a tender for Air Zimbabwe seeking an investor to turnaround the fortunes of the troubled national airline. Speaking at the just ended 2019 pre-budget seminar in...Published: 12 Nov 2018 at 05:26hrs | 208 | by Staff reporter
New law on illegal currency trading welcome
WE welcome President Emmerson Mnangagwa's decision to use temporary powers for a new law that will see illegal currency traders being sentenced to up to 10 years in jail, while ill-gotten wealth will ...Published: 12 Nov 2018 at 05:23hrs | 2343 | by Staff reporter
Mnangagwa doing things differently from Mugabe
Much to the chagrin of the opposition dictatorship, Nkosana Moyo predicted, well before the elections, that a President Emmerson Mnangagwa would do things, (not necessarily well), but certainly differ...Published: 11 Nov 2018 at 12:55hrs | 3453 | by Zifiso Masiye
'Bond notes have been a success'
RESERVE Bank of Zimbabwe governor John Mangudya had a torrid time at the pre-budget seminar for legislators in Bulawayo last week when he was grilled over currency problems bedevilling the country....Published: 11 Nov 2018 at 12:26hrs | 2082 | by Staff reporter
Forex shortages cripple cooking oil maker
Surface Wilmar, the country's largest cooking oil manufacturer, says it owes its external suppliers US$22 million because of acute foreign currency shortages locally.The revelations were made ...Published: 11 Nov 2018 at 12:24hrs | 570 | by Staff reporter
Zimbabwe illegal currency dealers to be jailed for 10 years
President Emmerson Mnangagwa has used temporary powers for a new law that will see illegal currency traders being sentenced to up to ten years in jail, while ill-gotten wealth will be confiscated....Published: 11 Nov 2018 at 09:17hrs | 1519 | by Staff reporter
Zimbabwe pharmacies condemn the ill to death
THE country's sick have been condemned to death in the country by pharmacies that remain defiant and demand foreign currency payments for drugs. Just watching the events at pharmacies unfold as the da...Published: 10 Nov 2018 at 10:39hrs | 454 | by Andile Tshuma
'MDC want to unseat elected ED' - who elected him, even ZEC failed to verify its own result
President Mnangagwa rigged the 30 July 2018 elections cocksure his "Zimbabwe is open for business!" clarion call would deliver economic recover. Sadly, that has no happened, the flood of investors has...Published: 09 Nov 2018 at 19:43hrs | 4379 | by Nomusa Garikai
Who's who in Zimbabwe’s cutthroat fuel sector
SIX major oil-importing entities, including the Indigenous Petroleum Association of Zimbabwe (Ipaz), Zuva Petroleum, Puma Energy, Total Zimbabwe, Petrotrade (Pvt) Ltd and Engen Petroleum Zimbawe, are...Published: 09 Nov 2018 at 18:06hrs | 5914 | by Staff reporter
Mangudya lost his cool under pressure from legislators
RESERVE Bank of Zimbabwe (RBZ) governor John Mangudya - who is usually calm and patient - yesterday lost his cool under pressure from legislators at a pre-budget seminar in Bulawayo who took him to ta...Published: 09 Nov 2018 at 16:41hrs | 5056 | by Staff reporter
Schweppes anticipate continued gaps in production due to forex shortages
Schweppes Holdings Africa Limited (SHAL) is the holding company for Schweppes Zimbabwe Limited (SZL) whose core business is manufacturing, sales and distribution of beverages under license from The Co...Published: 09 Nov 2018 at 09:00hrs | 1794 | by Schweppes
'Rushed currency reform could harm Zimbabwe economy'
Rushing to implement currency reforms without sufficient stocks of foreign currency to back up the transition would have serious adverse effects on Zimbabwe's economy, which would cause suffering of c...Published: 09 Nov 2018 at 06:22hrs | 3552 | by Staff reporter
RBZ boss refuses to scrap bond notes
RESERVE Bank of Zimbabwe (RBZ) Governor Dr John Mangudya yesterday defended the use of bond notes saying the real cause of problems facing the economy was not the surrogate currency but ballooning ele...Published: 09 Nov 2018 at 05:02hrs | 5761 | by Staff reporter
Zimbabwe passport backlog hits 166,500
Over 166,500 Zimbabweans are waiting for the issuance of their passports which are now overdue, the Registrar General revealed on Wednesday.The newly-appointed Registrar General Clement Masang...Published: 08 Nov 2018 at 17:08hrs | 2224 | by zimlive.com
Small-scale miners push gold output to top 30 tonnes in 10 months
ZIMBABWE'S gold production topped 30 tonnes for the 10 months to October, with 34 tonnes expected in the full year, anchored by small-scale miners.The previous high was 27,1 tonnes produced in...Published: 08 Nov 2018 at 05:43hrs | 365 | by Staff reporter
Forex shortages hinder start-up
In 2006, Bike and Boat Bar (BBB), a Bulawayo company, started manufacturing motor cycles, a first for the country and the region. Soon after, however, the economy tanked as hyperinflation rendered the...Published: 08 Nov 2018 at 05:37hrs | 771 | by Staff reporter
'I am taking Zimbabwe to Canaan,' said ED - rigged elections and dragged us into hell-on-earth
"PRESIDENT Emmerson Mnangagwa has rewarded one of the biggest indigenous churches, the Zion Christian Church (ZCC), with a tractor and other agricultural inputs for overwhelmingly voting for him and h...Published: 07 Nov 2018 at 07:14hrs | 4888 | by Patrick Guramatunhu
Mthuli Ncube to present 2019 budget on November 22
FINANCE minister Mthuli Ncube has said he will present his maiden budget statement on November 22, in what will be a litmus test of how he will address Zimbabwe's economic crisis.Shortages of ...Published: 07 Nov 2018 at 06:07hrs | 963 | by Staff reporter
Zimbabwe charging foreigners in USD
Government has resorted to charging United States dollars for the payment for all goods and services paid by foreigners at selected Zimbabwe's Parks & Wildlife Management Authority (ZimParks) recr...Published: 06 Nov 2018 at 07:29hrs | 1528 | by Staff reporter
Banks must stop disbursing forex
If there is no leakage of forex from official institutions then the obvious source of forex on the black market are people in the diaspora who send home US dollars through Mukuru, Western Union, Money...Published: 06 Nov 2018 at 05:27hrs | 1774 | by Goto
Govt warns schools demanding forex
Government has issued a stern warning to schools after it emerged that some were demanding tuition fees in United States dollars. Some top private schools have already sent out circulars to pa...Published: 06 Nov 2018 at 05:20hrs | 565 | by Staff reporter
RBZ fails to avail Delta's monthly $5m forex need
DELTA Corporation says it has not received foreign currency allocation in the past three weeks, leading to sporadic supply of its products on the market.Delta company secretary Alex Makamure t...Published: 05 Nov 2018 at 05:29hrs | 1319 | by Staff reporter
Where is Zimbabwe's cash going?
Zimbabwe is currently going through serious shortages of literally everything from bottled water to bread.Queues have become a common feature across the country as Zimbabweans struggle to purc...Published: 04 Nov 2018 at 09:15hrs | 2023 | by Crecey Kuyedzwa - Fin24
I am not a cash baron, says Sandra Ndebele
Musician Sandra Ndebele, who was reportedly defrauded of her money by a Bulawayo woman, has dismissed claims that she is a cash baron and a runner for someone in Bulawayo.Sandy, as she is affe...Published: 04 Nov 2018 at 09:02hrs | 1141 | by Staff reporter
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