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Zera warns errant service stations
THE Zimbabwe Energy Regulatory Authority (Zera) has warned service stations not using their own offshore funds against charging fuel in forex only. Zera said it is illegal for service stations...Published: 18 hrs ago | 699 | by Staff reporter
Striking nurses dig in
THE striking nurses, who were struck off the July payroll, have vowed not to return to work until the new Health minister Vice-President Constantino Chiwenga has addressed their demands. Zimbabwe Nurs...Published: 11 Aug 2020 at 08:18hrs | 1882 | by Staff reporter
Matepatepa farming area needs good roads
Matepatepa farming area of Bindura is well known for tobacco and maize production, racking in the much needed forex and helping feed the nation. Places like Brutton, Lilstock and Chipa along t...Published: 10 Aug 2020 at 18:21hrs | 111 | by Thomas Tondo Murisa. Chiweshe.
Zimbabwe not dollarising, says RBZ
RESERVE Bank of Zimbabwe (RBZ) governor Dr John Mangudya, insists there is no going back on the process of de-dollarising the economy despite the growing use of the US dollar in most transactions, mor...Published: 10 Aug 2020 at 17:12hrs | 1656 | by Staff reporter
Uproar over subsidised mealie-meal
Consumers in various parts of the country have decried the alleged abuse of subsidised roller meal by some millers, who are allegedly diverting the basic commodity to the black market.Last yea...Published: 09 Aug 2020 at 10:00hrs | 470 | by Staff reporter
Mnangagwa blocks bread price hike
Government has blocked bakers from increasing the price of a standard loaf of bread to $80 from an average $60 and assured them of more than US$2 million every week from the foreign currency auction....Published: 09 Aug 2020 at 09:44hrs | 570 | by Staff reporter
Protect the rural poor from unscrupulous businesses
The pricing system by some traders seem well calculated and calibrated to circumvent SI 185 that compels using forex auction rate. To avoid being on a collision course with the law, shop owner...Published: 07 Aug 2020 at 18:10hrs | 396 | by Thomas Tondo
GNU best way out of Zimbabwe crisis
UNITED Kingdom-based lawyer and blogger Alex Magaisa last month published a list of beneficiaries of the Reserve Bank of Zimbabwe (RBZ) farm mechanisation programme, that included cabinet ministers, Z...Published: 07 Aug 2020 at 09:06hrs | 2271 | by Staff reporter
Zimbabwean state capture
In my weekly political review show on the Gambakwe media platform two Sunday ago, we discussed about the planned demonstration on the 31st of July 2020. During the interview I invok...Published: 06 Aug 2020 at 22:59hrs | 4099 | by Terence. T. Simbi
Fuel prices rise
THE Zimbabwe Energy Regulatory Authority (Zera) has increased the price of fuel by margins ranging between 30 percent and 33 percent with effect from yesterday.However, in a public notice, Zer...Published: 05 Aug 2020 at 18:32hrs | 3392 | by Staff reporter
Zimdollar depreciates 4.6% to 80.46
The local dollar depreciated 4.6% in today auction to a weighted average rate of 80.46 against the US dollar from 76.76 last week. A total US$18.53 million was allotted from total bids worth US$19.77 ...Published: 04 Aug 2020 at 17:43hrs | 1099 | by Staff reporter
Bread flour price to go up 34%
THE price of flour is this week likely to go up by over 30% following the skyrocketing foreign currency auction-rate which is now chasing the parallel market. The government, through the centr...Published: 04 Aug 2020 at 08:09hrs | 847 | by newzimbabwe
Fresh fuel shortages hit Zimbabwe
FRESH fuel shortages have hit the country and in Bulawayo most service stations have been dry for the past week. A news crew took to the streets of Bulawayo and observed motorists queueing for refills...Published: 04 Aug 2020 at 08:08hrs | 741 | by Staff reporter
Motorists plead for fuel dual pricing
Government should come up with legislation that makes it mandatory for service stations to sell fuel in both foreign and local currency in line with the prevailing exchange rate, motorists have said. ...Published: 04 Aug 2020 at 08:07hrs | 497 | by Staff reporter
Fuel service stations abandon selling fuel in local currency, only forex sold gas is available
MOST motorists who are earning money in local currency have a daily nightmare as they struggle to get fuel sold in local currency amid revelations most service stations with fuel now sell it in ...Published: 03 Aug 2020 at 11:41hrs | 1656 | by Stephen Jakes
ZSE reopens amid $240m loss
THE Zimbabwe Stock Exchange (ZSE) will resume trading tomorrow after a month-long government shutdown that saw the bourse losing at least $240 million in potential revenue.On June 29, the gove...Published: 02 Aug 2020 at 09:21hrs | 350 | by Staff reporter
EcoCash probe delays Cassava financials
CASSAVA Smartech Zimbabwe Limited (CSZL) has announced a delay in publishing its financial results for the year ended February 29, 2020 due to investigations into its subsidiary, EcoCash (Private) Lim...Published: 31 Jul 2020 at 07:38hrs | 159 | by Staff reporter
Mnangagwa's govt begs doctors to stop strike
GOVERNMENT yesterday begged senior doctors to reconsider their threat to go on strike from today as COVID-19 wreaks havoc in the health sector, with 253 healthcare workers (HCWs) falling victim to the...Published: 29 Jul 2020 at 13:06hrs | 903 | by Staff reporter
COVID-19 forces Mohadi to close shop
VICe-PReSIDeNT Kembo Mohadi's Beitbridge bonded warehouse for imported vehicles was closed on Saturday for decontamination after a worker tested positive for COVID-19.Stakeholders yesterday ca...Published: 27 Jul 2020 at 08:52hrs | 3962 | by Staff reporter
Govt approves dual pricing
GOVERNMENT has authorised the pricing of goods and services in both the local currency and the United States dollar, barely a year after ditching the multi-currency regime."It is hereby notifi...Published: 27 Jul 2020 at 08:49hrs | 1663 | by Staff reporter
Govt misled civil servants on US$75 allowances
GOVERNMENT'S treatment of its workers particularly barring them from accessing their US$75 allowances in hard currency merely demonstrates how it has perfected the art of frustrating not only its empl...Published: 27 Jul 2020 at 08:48hrs | 3778 | by Staff reporter
Zimbabwe telecom operators get forex greenlight
Zimbabweans will now pay more to make calls and use the internet after the telecoms regulator authorised operators to peg their tariffs at the official exchange rate and in United States dollars....Published: 26 Jul 2020 at 11:11hrs | 2717 | by Staff reporter
Was the shutting down of mobile money, ZSE a necessary evil?
ON June 26, 2020 the Information ministry announced in a tweet that all mobile money transactions and the Zimbabwe Stock Exchange (ZSE) would stop transacting forthwith.The authorities halted ...Published: 26 Jul 2020 at 11:11hrs | 2670 | by Admire Maparadza Dube
ZimDollar future bright, says Mthuli Ncube
FINANCE and Economic Development Minister Professor Mthuli Ncube yesterday reiterated that there was no going back on the use of the Zimbabwe dollar, adding that the future of the local currency was "...Published: 25 Jul 2020 at 08:32hrs | 1762 | by Staff Reporter
Zimbabwe's future bright, claims Mthuli Ncube
FINANCE minister Mthuli Ncube on Wednesday told Senate that Zimbabwe's future was bright, adding that the economy would witness growth next year despite the severe economic difficulties currently bein...Published: 24 Jul 2020 at 08:04hrs | 1275 | by Staff reporter
High Court suspends police seizure of Econet database
ECONET Wireless Private Limited yesterday got relief from the High Court, which suspended a "warrant of search and seizure" of their premises by the Zimbabwe Republic Police (ZRP) over alleged impropr...Published: 23 Jul 2020 at 20:25hrs | 632 | by Staff reporter
No US$75 joy for civil servants
CIVIL servants yesterday expressed anger after failing to access their US$75 allowances as promised by the government, accusing their employer of being insincere.Government last month promised...Published: 23 Jul 2020 at 20:20hrs | 1219 | by Staff reporter
Forex traders to pay US$ tax
Government has come up with a legal instrument compelling traders selling goods and services in foreign currency to pay taxes in the currency in which they levy their customers, Senators heard yesterd...Published: 23 Jul 2020 at 20:17hrs | 409 | by Staff reporter
Zimbabweans reduced to hunter-gatherers
PRESIDENT Emmerson Mnangagwa says he is the harbinger and personification of a new dispensation which saves public funds as opposed to the late former President Robert Mugabe who squandered State reso...Published: 22 Jul 2020 at 08:46hrs | 741 | by Tamburai Shato
South Africa's economy has been crushed by COVID but could be on the mend
South Africa's economy is forecast to drop by a robust 7.2% in 2020 which would be the worst performance in nearly 90 years. The pandemic has spread throughout the region generate a devastating toll o...Published: 21 Jul 2020 at 21:06hrs | 1746 | by Staff writer
Welshman Ncube, Khupe also benefitted from RBZ looting programme
SETTING THE RECORD STRAIGHT: THE 2007/8 Farm Mechanisation Programme was above board: Taxpayers not saddled with the Bill.First of all, I must express my prima-facie disappointment with my bro...Published: 20 Jul 2020 at 08:24hrs | 7392 | by Dr Gideon Gono
Gono slams Magaisa for ignorance
The Farm Mechanisation Programme of 2007 was above board, was funded from Reserve Bank of Zimbabwe funds with beneficiaries never expected to repay the sums, and taxpayers were not saddled with the bi...Published: 20 Jul 2020 at 08:20hrs | 779 | by Staff reporter
Cut the talk, Mnangagwa, and walk
EVER noticed how fake Pentecostal pastors and prophets cheat people year round? They use a combination of nicely worded promises and voodoo "miracles".The pattern is always the same. When the ...Published: 19 Jul 2020 at 09:27hrs | 12015 | by Tawanda Majoni
Econet faces black market, externalising forex charges
THE country's biggest mobile money provider, Econet Wireless was allegedly involved in black market activities between January and June which saw the company crediting huge sums of money to "runners" ...Published: 19 Jul 2020 at 07:47hrs | 3415 | by Staff Reporter
Key aspects sinking the Zimbabwean Dollar
The Zimbabwean economy is rapidly re-dollarizing, less than 12 months after the government banned the trading of multiple currencies through Statutory Instrument 142 of 2019 and introduced a local cur...Published: 19 Jul 2020 at 07:03hrs | 3290 | by Victor Bhoroma
Zimbabwe nurses insist on US dollar pay
STRIKING nurses at government hospitals have insisted on being paid in the more stable United States dollars as government on Wednesday indicated that it had no immediate plans to introduce forex-inde...Published: 17 Jul 2020 at 07:49hrs | 2055 | by Staff reporter
Mthuli Ncube avoids supplementary budget
GOVERNMENT has remained vague on how it plans to provide safety nets for vulnerable citizens despite the growing social needs in the economy as Finance minister Mthuli Ncube yesterday failed to table ...Published: 17 Jul 2020 at 07:45hrs | 559 | by Staff reporter
Mthuli Ncube's 2% tax extended to forex transactions
Treasury has extended the Intermediated Money Transfer Tax, more commonly known as the 2 percent tax, to foreign currency transactions. Earlier this year, Government legalised the use of the U...Published: 17 Jul 2020 at 07:43hrs | 1281 | by Staff reporter
'Mnangagwa's govt has no plans to abandon Zimdollar'
JUSTICE minister Ziyambi Ziyambi yesterday told Parliament that government had no immediate plans to abandon the Zimbabwe dollar, totally crashing any hopes by civil servants of having their salaries ...Published: 16 Jul 2020 at 07:50hrs | 3378 | by Staff reporter
Forex fuel prices tumble
Fuel dealers allowed to charge in foreign currency are now competing on price, with most charging well below the legal maximums of US$1,28 a litre for petrol and US$1,09 for diesel. While fuel...Published: 16 Jul 2020 at 07:41hrs | 7929 | by Staff reporter
Man defrauded by forex dealer faces arrest
A Bulawayo man is facing arrest after he reported that he was defrauded of $120 000 by an illegal forex dealer.Police told Allan Majaha Sibanda that he had also committed a crime by illegally ...Published: 15 Jul 2020 at 08:45hrs | 3847 | by Staff reporter
Panic Chinamasa and the Old Mutual threat
WHAT did Zanu-PF politburo member Patrick Chinamasa mean when he said the ruling party had endorsed a decision to "eject Old Mutual from the financial system"? Nobody knows. Not even Old Mutual itself...Published: 14 Jul 2020 at 08:43hrs | 4351 | by newZWire
Mthuli Ncube faces uphill task
FINANCE minister Mthuli Ncube, expected to present his mid-term budget statement next week, faces a daunting task to craft a cocktail of measures to stem the steepest economic decline in Zimbabwe sinc...Published: 10 Jul 2020 at 07:21hrs | 4210 | by Staff reporter
Govt to audit US$ service stations
Government says it will conduct audits on fuel companies accessing the precious commodity through the reserve Bank of Zimbabwe foreign currency facility to check if they were not double-dipping by sel...Published: 10 Jul 2020 at 07:03hrs | 935 | by Staff reporter
Pressure mounts on Mnangagwa
Pressure is mounting on President Emmerson Mnangagwa's administration to resolve the economic crisis as the cost of living skyrockets.This comes as the local currency continues to lose value a...Published: 09 Jul 2020 at 20:53hrs | 9735 | by Staff reporter
Zimdollar continues to depreciate against the dollar
The Zimbabwe dollar depreciated 3.2% at the foreign currency auction to 65.8765 from 63.7442 last week. Today's auction marked the entry of exporters and holders of free funds who were liquidating the...Published: 07 Jul 2020 at 17:42hrs | 3064 | by Staff reporter
BCC struggles to pay workers
BULAWAYO City Council (BCC) says its coffers are running dry and as such it is struggling to pay its workers and deliver services effectively. The council which says its revenue declined by 80...Published: 06 Jul 2020 at 13:06hrs | 496 | by Staff reporter
The Ecocash heist - A modern tale of irresponsible corporate behaviour
Sometime in 2013, I applied and became an Ecocash Agent (Agent), and immediately set shop in at least two locations within Harare CBD. The setup and running costs for me as an Agent were high, but the...Published: 03 Jul 2020 at 19:27hrs | 6770 | by Tendayi Mudhadha
FCA account holders fail to withdraw cash
INDIVIDUALS with nostro foreign currency accounts (FCAs) in Zimbabwe are failing to withdraw US dollars from banks, a development which undermines public confidence and trust in the financial system....Published: 03 Jul 2020 at 08:27hrs | 6106 | by Staff reporter
Metallon sells gold assets to Tagwirei's Landela
MZI Khumalo's Metallon has completed the sale of Shamva Mine to Kuda Tagwirei's Landela Mining Ventures, while the sale of Mazowe Mine is expected shortly.The transaction represents a change o...Published: 03 Jul 2020 at 07:58hrs | 1853 | by Staff reporter
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