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High interest rates choking Zimbabwe currency borrowing
Listed clothing retailer, Edgars Stores Limited, has reported a resilient performance for the half-year period ending July 7, 2024, despite the ongoing economic setbacks and high interest rates that c...Published: 10 Nov 2024 at 11:02hrs | 181 | by Staff reporter
Choppies mulls Zimbabwe exit
Botswana-based retailer Choppies Enterprise Limited is contemplating a withdrawal from the Zimbabwean market, citing significant financial pressure stemming from the instability of the newly introduce...Published: 29 Oct 2024 at 07:44hrs | 6749 | by Staff reporter
Zimbabwe's missing link
IN today's rapidly changing global business environment, organisations are under increasing pressure to remain competitive, innovative and sustainable.Leadership, in its truest sense, has beco...Published: 18 Sep 2024 at 08:29hrs | 130 | by Staff reporter
Revolt at MTN over CEO's 'female favourite'
An ugly battle is brewing at MTN over the direction Africa's biggest mobile network operator is taking under group CEO Ralph Mupita, with executives threatening to quit en masse over his leadership st...Published: 01 Sep 2024 at 11:58hrs | 4562 | by Staff reporter
IMF says Zimbabwe's economy continues to show resilience
In light of new policy developments, an International Monetary Fund (IMF) staff team led by Mr. Wojciech Maliszewski conducted a second mission to Harare during June 18-27, 2024, to conclude the 2024 ...Published: 28 Jun 2024 at 13:01hrs | 4 | by Staff reporter
Global headwinds spell doom for Zimbabwe
TOP international economists predict that the global economy will decline this year, spelling trouble for Zimbabwe's foreign market-dependent economy.The Treasury expects Zimbabwe's economic g...Published: 20 Jan 2024 at 07:06hrs | | by Staff reporter
'Zimbabwe littered with zombie firms'
ZIMBABWE is littered with "dogs and zombie companies" that are stagnant and have moribund prospects, limited cash-flows and low market share, according to the strategic advisory firm Mark & Associ...Published: 17 Jan 2024 at 04:55hrs | 1 | by Staff reporter
Stanbic named 2023 bank of the year by the banker
Harare, 12 December 2023 - Stanbic Bank has been selected 2023 Bank of the Year in Zimbabwe by world renown London-based magazine, The Banker, cementing its place as one of the country's leading finan...Published: 13 Dec 2023 at 09:24hrs | 6 | by Stephen Jakes
Professor Ncube readies Zimbabwe's budget
AS Finance, Economic Development and Investment Promotion Minister, Professor Mthuli Ncube, readies to present the 2024 National Budget tomorrow, expectations are high that it will consolidate prevail...Published: 29 Nov 2023 at 05:08hrs | 10 | by Staff reporter
Zimbabwe inflation to hit 400% by year end, says IMF
The International Monetary Fund (IMF) has forecast that Zimbabwe's annual inflation rate is expected to rise to nearly 400% by the end of the year due to the depreciation of the local currency. This p...Published: 13 Oct 2023 at 06:36hrs | | by Staff reporter
Chamisa in bid to block Mnangagwa at Sadc
THE deadlock over Zimbabwe's disputed poll took a dramatic twist this week, after Citizens Coalition for Change (CCC) leaders said they are petitioning the Southern African Development Community (Sadc...Published: 08 Sep 2023 at 17:47hrs | | by Staff reporter
Multichoice believes Zimbabwe may prove a better market than Nigeria
Multichoice, which is banking on economic and monetary policy reforms in Nigeria to offset exchange rate losses, considers Zimbabwe an important market that is better than its West African counterpart...Published: 06 Jul 2023 at 09:17hrs | 1 | by Staff reporter
Zimbabwe consumer demand remains firm despite currency depreciation
DEMAND within Zimbabwe's consumer sector will remain firm, supported by the informal sector, which makes up the bulk of the economy and shows resilience to macro-economic changes, a research firm has ...Published: 19 Jun 2023 at 06:43hrs | | by Staff reporter
Ramaphosa's economic adviser jumps ship
President Cyril Ramaphosa's economic advisor, Trudi Makhaya resigned on Friday.According to a statement by the presidency, Makhaya was appointment in April 2018 and "helped craft the administr...Published: 13 May 2023 at 19:15hrs | 1 | by Staff reporter
Zimdollar stares fresh setbacks as crisis deepens
ZIMBABWE'S currency will continue depreciating in the coming months, as multiple headwinds exert pressure on the unit, which surrendered 34% of its value to the United States dollar in April, accordin...Published: 12 May 2023 at 06:06hrs | 1 | by Staff reporter
RBZ boss speaks on looming exit
The Reserve Bank of Zimbabwe (RBZ) governor John Mangudya says his top priorities are to leave behind a sound financial system, strong central bank, and stable prices as his two terms come to an end....Published: 16 Apr 2023 at 08:32hrs | | by Staff reporter
Zimbabwe's manufacturing capacity to hit 70% this year?
Capacity utilisation in the manufacturing sector is forecast to reach 70 percent this year, with production continuing to increase with more investment flowing into factories, according to the latest ...Published: 07 Apr 2023 at 09:10hrs | 1 | by Staff reporter
Chamisa poses major threat to Mnangagwa, but....
CITIZENS Coalition for Change (CCC) leader Nelson Chamisa has emerged as President Emmerson Mnangagwa's most formidable challenger for the presidency when the country goes to the polls in the next few...Published: 06 Mar 2023 at 05:20hrs | 10 | by Staff reporter
Headwinds ahead for Zanu-PF
NORTON Independent legislator Temba Mliswa remains a comical character but he is one you cannot afford to ignore.A rabble-rouser of note, he has been a thorn in the flesh of Zanu-PF ever since...Published: 21 Jan 2023 at 11:26hrs | | by Staff reporter
Mnangagwa's govt claims to have delivered 600 000 jobs
NEARLY 600 000 new formal jobs have been created in various sectors from 2018 to date, an indication that the formal economy is growing in tandem with increased economic activity, latest figures from ...Published: 15 Jan 2023 at 09:39hrs | | by Staff reporter
Zec delimitation report challenger hounded
A Zanu-PF activist and former Zicosu president Tonderai Chidawa, who last week challenged the Zimbabwe Electoral Commission (Zec) preliminary delimitation report, says he is being hounded by suspected...Published: 09 Jan 2023 at 07:01hrs | 2 | 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 | | by Staff reporter
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 | | by Staff reporter
PSMI faces collapse
EMBATTLED Premier Services Medical Investments (PSMI) shut down 120 of its 155 facilities last month as the entity battled to settle a four-month salary arrears bill in a turbulent period that culmina...Published: 04 Nov 2022 at 05:38hrs | 6 | by Staff reporter
Mthuli Ncube urged to present USD budget for 2023
THE Zimbabwe Coalition on Debt and Development (Zimcodd) has called on Finance minister Mthuli Ncube to present the 2023 national budget in United States dollar terms to avoid the need for a supplemen...Published: 13 Oct 2022 at 05:57hrs | | 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 | | 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 | | by Staff reporter
'Gold coins safer than Zimdollar'
THE resilience of gold as a store of value pushed the Reserve Bank of Zimbabwe (RBZ) to introduce gold coins last month, a central bank official said yesterday.Azvinandava Saburi, director of ...Published: 17 Aug 2022 at 06:40hrs | 1 | by Staff reporter
Mnangagwa says Zimbabweans must stop parroting foreign narratives
ZIMBABWEANS should believe in themselves despite the continued imposition of sanctions on the country and be inspired by the national interest to work harder to develop their own country rather than "...Published: 14 Aug 2022 at 07:21hrs | | by Staff reporter
Mnangagwa tells profiteers to play fair,
PRESIDENT Mnangagwa yesterday reiterated the need to adopt fair business practices and urged economic stakeholders to rally behind the country's transformation agenda and leave a legacy of positive im...Published: 13 Aug 2022 at 07:23hrs | | by Staff reporter
Chiwenga warns Innscor
A TENSE meeting between President Emmerson Mnangagwa and Innscor Africa shareholders over allegations of fuelling currency volatilities rocking the market had a chilling effect after Vice-President Co...Published: 12 Aug 2022 at 20:21hrs | | by Staff reporter
Mnangagwa's hectic schedule
PRESIDENT Mnangagwa will today lead key proceedings in a double hectic schedule in the resort city of Victoria Falls where he is set to officially open the End of Term Judges Symposium this morning an...Published: 12 Aug 2022 at 06:34hrs | | by Staff reporter
Zimbabwe secures 300MW
ZESA Holdings has secured a 300 megawatt (MW) power import deal with regional suppliers as the energy crisis threatens to cripple industry and domestic consumers, confidential documents show.T...Published: 22 Jul 2022 at 10:43hrs | 5 | by Staff reporter
Flour price goes up
THE price of bread is likely to go up after flour prices rose by 10% yesterday.This comes after the Grain Marketing Board increased its wheat prices to millers by 8% from $239 360 to $258 416 ...Published: 13 Jul 2022 at 07:21hrs | | by Staff reporter
TelOne groans under sub-economic tariffs
STATE-OWNED telecommunications company TelOne is reeling under high inflation which has impeded profitability while sub-economic tariffs are threatening to sink the firm.TelOne's last tariff r...Published: 25 Jun 2022 at 10:04hrs | 6 | by Staff reporter
Dubai Zimbabwe's second-largest gold market
THE United Arab Emirates (UAE) has consolidated its position as Zimbabwe's second-largest export destination as gold shipments to the region continue to grow, a new report by the country's statistical...Published: 21 Jun 2022 at 15:24hrs | 8 | by Staff reporter
Turkish Airlines plan to introduce flights into Zimbabwean destinations
GLOBAL air passenger carrier, Turkish Airlines' plan to introduce flights into Zimbabwean destinations are still on track and Harare's diplomats deployed to that country in 2019 are confident the gian...Published: 03 Jun 2022 at 19:14hrs | | by Staff reporter
Zimdollar worries industry
THE Confederation of Zimbabwe Industries (CZI) is having sleepless nights over an overvalued Zimbabwean dollar (Zimdollar), which is now undermining the scope for maximising structural efficiency and ...Published: 13 May 2022 at 19:09hrs | 1 | by Staff reporter
Zimbabwe power crisis worsens
STRUGGLING national power utility Zesa Holdings has extended a plea for help to big miners by constituting a group called the Energy Intensive Users Group (EIUG) to provide off-take guarantees in hard...Published: 06 May 2022 at 19:28hrs | 2 | by Staff reporter
Fuel hikes to worsen economic woes
GOVERNMENT yesterday increased prices of petrol and diesel by 23.78% and 18.23% respectively, a move that economists said will result in a hike in prices of basic goods and services and further erode ...Published: 26 Apr 2022 at 08:21hrs | | by Staff reporter
Mnangagwa says it's 'time for Zimbabwe to rise and shine'
ZIMBABWEANS must be united by a common vision to build a prosperous and empowered nation as the country's economy is likely to grow regardless of the numerous challenges it faces, President Mnangagwa ...Published: 17 Apr 2022 at 09:10hrs | | by Staff reporter
41 die in Zimbabwe's Easter accidents
ZIMBABWEANS must be united by a common vision to build a prosperous and empowered nation as the country's economy is likely to grow regardless of the numerous challenges it faces, President Mnangagwa ...Published: 17 Apr 2022 at 09:09hrs | | by Staff reporter
Mealie-meal, wheat prices jump
THE Grain Millers Association of Zimbabwe (GMAZ) has reviewed upwards prices of mealie-meal and flour, following the increase of maize and wheat prices.The prices of mealie-meal and flour rece...Published: 17 Apr 2022 at 09:08hrs | | by Staff reporter
Mnangagwa blames 'NATO expansion' for Russia's invasion of Ukraine
In his first public comments over Russia's invasion of Ukraine, President Emmerson Mnangagwa said it was a "robust" response by President Vladmir Putin to "provocation" by NATO, a military alliance of...Published: 11 Apr 2022 at 08:27hrs | 7 | by Staff reporter
Mnangagwa says Russia-Ukraine conflict wake up call
THE Russia and Ukraine conflict, which has spawned a surge in global food prices and disruption of world markets and supply chains, has been a wake-up call for Zimbabwe on the need to ensure food secu...Published: 11 Apr 2022 at 06:28hrs | | by Staff reporter
RBZ to double down in inflation fight
Reserve Bank of Zimbabwe (RBZ) will deploy various monetary tools at its disposal to stem out rampant "market indiscipline" that it believes is driving price increases.Market indiscipline, the...Published: 03 Apr 2022 at 08:20hrs | | by Staff reporter
Germany's biggest airline dates Victoria Falls
ONE of Zimbabwe's biggest leisure chains yesterday predicted a dramatic upswing in arrivals, as Germany's biggest airline prepared for its maiden adventure on the Windhoek-Victoria Falls route today....Published: 30 Mar 2022 at 07:25hrs | | by Staff reporter
Zimbabwe mulls fuel levy cuts
Zimbabwe has hinted it may further reduce fuel levies to stymie a sustained spike in the domestic price of petroleum products after global prices soared on market uncertainty due to the conflict betwe...Published: 21 Mar 2022 at 06:23hrs | | by Staff reporter
#HowFar campaign ruffles plenty feathers
THE Zimbabwe Coalition on Debt and Development (Zimcodd) has bemoaned the intolerance against its #HowFar campaign, an initiative to hold the government to account on public finance management....Published: 19 Mar 2022 at 07:18hrs | 2 | by Staff reporter
Headwinds piling up for Zimbabwe
The United States Agency for International Development (USAid)'s food security arm, the Famine Early Warning Systems Network (Fewsnet) has warned of below average harvests this year and a shortlived i...Published: 18 Mar 2022 at 05:37hrs | | by Staf reporter
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