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State diamond firm lays off hundreds to avoid collapse
Zimbabwe's state-controlled diamond miner, the Zimbabwe Consolidated Diamond Company (ZCDC), has launched a major retrenchment exercise in a desperate bid to stave off collapse, following a brutal cra...Published: 13 Jul 2025 at 11:08hrs | 131 | by Staff reporter
Companies reel under crippling costs, regulatory chaos
Zimbabwe's formal business sector is under severe strain as economic pressures mount, with industry leaders warning that ongoing policy inconsistencies, regulatory confusion, and worsening macroeconom...Published: 10 Jul 2025 at 09:08hrs | 246 | by Staff reporter
Tagwirei's risky play in Zimbabwe's Game of Thrones
Business tycoon Kudakwashe Tagwirei's dramatic ejection from Zanu-PF's 126th Ordinary Session of the Central Committee has thrown a harsh spotlight on the formidable political headwinds he faces as he...Published: 09 Jul 2025 at 07:57hrs | 704 | by Staff reporter
Zimbabwean consumer sector poised for improvement
An uplift in volumes has been projected for Zimbabwean consumer companies despite rising cost structures, a volatile policy and monetary environment as well as higher taxation, say analysts at IH Secu...Published: 07 Jul 2025 at 08:57hrs | 117 | by Staff reporter
Construction boom in Zimbabwe spurs growth for PPC
The construction sectors in Zimbabwe and South Africa are showing strong signs of sustained growth, creating favourable conditions for companies like Pretoria Portland Cement (PPC) to increase competi...Published: 25 Jun 2025 at 15:53hrs | 191 | by Staff reporter
Zimbabwe's mobile network operators hit by currency woes
Zimbabwe's mobile network operators (MNOs) are reeling from a sharp decline in profitability, with spiralling costs and exchange rate volatility emerging as key culprits, according to a new industry r...Published: 22 Jun 2025 at 09:07hrs | 116 | by Staff reporter
Zimbabwe's RTG reports sharp rebound in foreign tourist arrivals
Zimbabwe's largest hotel operator, Rainbow Tourism Group (RTG), has reported a strong rebound in foreign guest arrivals, signaling a wider recovery in the region's hospitality sector as international ...Published: 16 Jun 2025 at 14:42hrs | 156 | by Staff reporter
Zimbabwe's medical aid coverage crashes to just 4%
Zimbabwe's healthcare system faces a deepening crisis as health insurance coverage has plummeted to an all-time low, with just 4% of the population currently enrolled in any form of medical aid. The s...Published: 06 Jun 2025 at 18:29hrs | 498 | by Staff reporter
Zimbabwe tourism industry bleeds US$40 million in 90 days
Zimbabwe's tourism industry is reeling from a steep downturn after losing nearly US$40 million in potential revenue during the first quarter of 2025, amid a silent but deadly investor exodus and persi...Published: 06 Jun 2025 at 12:03hrs | 272 | by Staff reporter
OK Zimbabwe shuts down Food Lover's Market outlets
Retail giant OK Zimbabwe has announced the closure of its premium Food Lover's Market outlets in Borrowdale and Avondale, a move that underscores the mounting pressure on Zimbabwe's formal retail sect...Published: 04 Jun 2025 at 09:46hrs | 3995 | by Staff reporter
Afreximbank pegs Zimbabwe growth at 3,8%
The African Export–Import Bank (Afreximbank) has downgraded Zimbabwe's economic growth forecast for 2025 to 3.8%, considerably lower than the optimistic 6% growth target set by the government and Br...Published: 26 May 2025 at 08:32hrs | 193 | by Staff reporter
Zimbabwe telecom companies hike tariffs
Zimbabwe's major telecommunications companies have announced long-anticipated increases in the prices of voice, data, and SMS bundles following regulatory approval by the Postal and Telecommunications...Published: 21 May 2025 at 19:55hrs | 383 | by Staff reporter
Zimbabwe's trade deficit widens by 28%
Zimbabwe's trade deficit ballooned to US$543 million in the first quarter of 2025, marking a 28% increase from the US$424 million recorded during the same period last year, according to the latest fig...Published: 17 May 2025 at 14:01hrs | 107 | by Staff reporter
ZNCC to hold annual congress in June
The Zimbabwe National Chamber of Commerce (ZNCC) will hold its highly anticipated annual congress from June 25 to 28 in Victoria Falls, aiming to foster inclusive economic growth, improve the bu...Published: 16 May 2025 at 10:29hrs | 79 | by Staff reporter
African Sun tables aggressive refurbishment initiatives
Leading hospitality group African Sun Limited (ASL) has announced an ambitious refurbishment program aimed at boosting its competitive edge on the global tourism stage, despite economic headwinds and ...Published: 07 May 2025 at 09:51hrs | 185 | by Staff reporter
OK Zimbabwe targets US$30 million capital raise to revive operations
OK Zimbabwe Limited, the country's largest retail chain, says it is in advanced discussions to raise US$30 million in fresh capital as part of a strategic plan to revive its operations, clear debts, a...Published: 07 May 2025 at 09:22hrs | 332 | by Staff reporter
Schweppes Managing Director retires after 20 years
Beverage manufacturer Schweppes Zimbabwe has announced the retirement of its long-serving Managing Director, Charles Nkululeko Msipa, bringing to an end a distinguished 20-year career with the company...Published: 01 May 2025 at 19:11hrs | 1084 | by Staff reporter
CBZ hails Zimbabwe's less volatile economy
CBZ Holdings Limited has praised Zimbabwe's improving economic environment and easing inflationary pressures, which have played a key role in the financial institution achieving a profit of ZWG537.5 m...Published: 30 Apr 2025 at 07:15hrs | 164 | by Staff reporter
Zimbabwe manufacturing sector faces challenges
Industry and Commerce Minister Nqobizitha Ndlovu has called for urgent action to address the challenges stifling the competitiveness of Zimbabwe's manufacturing sector, after new findings revealed tha...Published: 16 Apr 2025 at 23:23hrs | 119 | by Staff reporter
Banks smile all the way to the bank, while depositors bear cost of high fees
Shareholders in Zimbabwe's banking sector are enjoying robust returns on their investments, as banks continue to post strong profits and declare sizeable dividends. However, concerns are mounting amon...Published: 13 Apr 2025 at 09:46hrs | 637 | by Staff reporter
Critical evaluation of the South Africa's 2025 Budget effect on the property market
The 2025 Budget presents a multifaceted impact on South Africa's property market, balancing fiscal stability, infrastructure development, and housing affordability with rising taxation, debt-servicing...Published: 14 Mar 2025 at 06:43hrs | 78 | by Dr Bekithemba Mpofu
Nigerians buying South African bank
The Bidvest Group has placed Bidvest Bank as a discontinued operation in its latest financial results ahead of the bank's sale to Nigerian giant Access Bank.In its results for the six months e...Published: 06 Mar 2025 at 16:34hrs | 2028 | by Staff reporter
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 | 184 | 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 | 6768 | 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 | 158 | 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 | 4670 | 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 | 5 | 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 | 4 | 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 | 3 | 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 | 26 | 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 | 16 | 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 | 1 | 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 | 4 | 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 | 2 | 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 | 2 | 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 | 2 | 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 | 1 | 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 | 3 | 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 | 15 | 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 | 2 | 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 | 1 | 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 | 1 | 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 | 2 | 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 | 13 | 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 | 1 | 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 | 2 | by Staff reporter
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