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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 | 669 | 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 | 617 | 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 | 574 | 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 | 170 | 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 | 448 | 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 | 175 | 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 | 174 | 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 | 139 | 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 | 223 | 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 | 2352 | 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 | 552 | 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 | 189 | 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 | 679 | 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 | 229 | 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 | 410 | 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 | 1016 | by Staf reporter
Chamisa's calculation pays off?
OPPOSITION leader Nelson Chamisa's gamble to form a new party following squabbles over the MDC-Alliance name seems to be paying off amid renewed interest in the democratic struggle and fresh internati...Published: 26 Feb 2022 at 19:31hrs | 12345 | by Staff reporter
Kuvimba musn't disappoint on ZiscoSteel
WHILE we applaud government efforts to revive the moribund ZiscoSteel, we are a bit pessimistic on its choice of Kuvimba Mining House, where the State has majority shareholding, as the leading investo...Published: 25 Feb 2022 at 07:14hrs | 92 | by Staff reporter
'Mnangagwa's radical policy shift blew away US$500m potential revenue'
RADICAL policy shifts a year into President Emmerson Mnangagwa's administration have wiped a staggering US$500 million in potential investments out of Zimbabwe, new data predicting an escalation of he...Published: 16 Feb 2022 at 05:35hrs | 491 | by Staff reporter
No joy from RBZ governor
RESERVE Bank of Zimbabwe (RBZ) governor John Mangudya yesterday declined to increase cash withdrawal limits to match recent price hikes, as he battled to limit cash in circulation in order to fight in...Published: 08 Feb 2022 at 05:37hrs | 1949 | by Staff reporter
West casts sanctions net wider
LOCAL banks have raised concerns over capitalisation demands by the Reserve Bank of Zimbabwe (RBZ) compelling the financial institutions and deposit-taking micro-financefirms to meet their tar...Published: 21 Jan 2022 at 18:35hrs | 1822 | by Staff reporter
Mnangagwa democratic credentials face litmus test in election season
THE year 2022 is a litmus test for President Emmerson Mnangagwa's regime which promised to open up political space and uphold civil liberties as temperatures hot up ahead of next year's general electi...Published: 16 Jan 2022 at 18:13hrs | 571 | by Staff reporter
Zimbabwean economy turns the corner, says CBZ chair
THE current Zimbabwean Government has unshackled the economy and is on the right path to start realizing meaningful returns despite economic headwinds that have hindered economic progress in the past,...Published: 23 Nov 2021 at 05:52hrs | 7 | by Staff reporter
UK cleric says no mercy for Zimbabwean 'thieves'
EFFORTS by President Emmerson Mnangagwa's government to get the Church of England's Archbishop of Canterbury, Justin Welby, to seek help for the removal of sanctions face headwinds after the cleric sa...Published: 15 Nov 2021 at 05:27hrs | | by Staff reporter
Zimbabwe's banks overwhelmed
ZIMBABWE'S banking system has been overwhelmed by rocketing demand for United States dollars on the foreign currency auction system, the central bank said on Tuesday, as it moved to adjust bidding lea...Published: 10 Nov 2021 at 05:34hrs | 1 | by Staff reporter
Headwinds stalk Zimbabwe insurers
FINANCE and Economic Development minister Mthuli Ncube has warned that Zimbabwe's insurance sector faces one of its toughest times, with geopolitical tensions and disruptions to business models under ...Published: 09 Nov 2021 at 05:36hrs | | by Staff reporter
Banks lobby for tax regime revamp
ZIMBABWE'S banking sector says government must extend tax payment periods to twice a year to give industries breathing space after being affected by pandemic-related headwinds.Under current po...Published: 01 Nov 2021 at 07:27hrs | | by Staff reporter
Zimbabwe revises inflation target
FINANCE and Economic Development minister Mthuli Ncube increased annual inflation targets to between 35% and 46% at the weekend, saying pressures from rocketing international food and oil prices were ...Published: 26 Oct 2021 at 08:02hrs | 1 | by Staff reporter
Fresh push for banks to pay interest
GOVERNMENT says it is scaling up confidence-building measures to boost deposits into the country's banking sector.Giving a keynote address during last night's 22nd edition of the Banks and Ban...Published: 22 Oct 2021 at 19:12hrs | | by Staff reporter
Chamisa fakes 'assassination' attempt?
THE MDC Alliance yesterday claimed party leader Nelson Chamisa's convoy was intercepted by heavily suspected armed Zanu-PF youths who fired gunshots, hitting a rear window on the opposition leader's v...Published: 20 Oct 2021 at 07:41hrs | 8 | by Staff reporter
Chamisa talks about 'grief and fear'
OPPOSITION MDC Alliance leader Nelson Chamisa yesterday said people in the rural areas were living in fear due to intimidation ahead of the 2023 general elections, adding that Zimbabweans from all wal...Published: 20 Oct 2021 at 07:41hrs | 3 | by Staff reporter
Mnangagwa told 'don't blame sanctions'
PRESIDENT Emmerson Mnangagwa and his regime must stop lamenting about sanctions and focus on eradicating corruption that has become rife in his government, Parliament heard yesterday.Zanu-PF h...Published: 20 Oct 2021 at 07:40hrs | 5 | by Staff reporter
Simba Makoni arrested for exchange rate violation
Opposition Mavambo/Kusile/Dawn leader Simba Makoni was arrested and dragged to court, charged with contravening the Exchange Control Act on Tuesday.Makoni, who appeared before Magistrate Stanf...Published: 20 Oct 2021 at 07:40hrs | 41 | by Staff reporter
EFF VP resigns
OPPOSITION Economic Freedom Fighters (EFF) Zimbabwe vice-president, Otilia Monfort Mathe, who was elected in May at a congress in Nkayi, has resigned from the party.Siphiwo Ngwenya told journa...Published: 20 Oct 2021 at 07:39hrs | 48 | by Staff reporter
Gukurahundi survivors demand closure
FAMILIES of the 12 Silobela villagers who were killed in 1985 during the Gukurahundi massacres in the Midlands province have called on government to provide healing services and compensation for the l...Published: 20 Oct 2021 at 07:39hrs | 1 | by Staff reporter
Police boss orders compulsory vaccination
POLICE Commissioner-General Godwin Matanga yesterday ordered that all members of the force should be fully vaccinated to curb the spread of the COVID-19 pandemic.The police chief said this whi...Published: 20 Oct 2021 at 07:39hrs | | by Staff reporter
Zimbabwe Dry Port operating at 65% capacity
THE Zimbabwe Dry Port facility at Walvis Bay in Namibia is operating at between 65% and 70% of capacity due to lack of support from the local business community, the company's acting area manager Just...Published: 20 Oct 2021 at 07:39hrs | 2 | by Staff reporter
EcoCash shrugs headwinds
EcoCash Holdings Zimbabwe Limited, formerly Cassava Smartech Zimbabwe Limited, reported solid operating results for the year ended February 28, 2021, despite strong economic headwinds.EcoCash ...Published: 20 Oct 2021 at 07:39hrs | | by Staff reporter
EcoCash shrugs headwinds to posts solid results
EcoCash Holdings Zimbabwe Limited, formerly Cassava Smartech Zimbabwe Limited, reported solid operating results for the year ended February 28, 2021, despite strong economic headwinds in the country d...Published: 19 Oct 2021 at 06:31hrs | | by Staff reporter
Black market records steepest annual rise
THE parallel market exchange rate rocketed by 27% during the third quarter (3Q) of this year, marking its steepest ever growth in one year, researchers at Inter Horizon Securities (IH) said at the wee...Published: 18 Oct 2021 at 06:30hrs | | by Staff reporter
'US$500m changing hands outside banks'
ABOUT US$500 million could be circulating outside Zimbabwe's banking system, Reserve Bank of Zimbabwe (RBZ) estimates showed last week, as industries said they had raised only a fraction of billions r...Published: 08 Oct 2021 at 19:03hrs | 15 | by Staff reporter
China sees third force in huge outcry over its Zimbabwe activities
Zimbabweans must learn from the pastIT has been clear since radical currency reforms were effected in February 2019 that inflation, along with the parallel market exchange rate would derail prospe...Published: 08 Oct 2021 at 19:01hrs | | by Staff reporter
Reserve Bank panics as exchange rates spiral
MONETARY authorities revised annual inflation targets upwards on Monday before lining up a sea of fresh policy proposals to government, as they scurried to stem a "worrisome" surge in parallel market ...Published: 01 Oct 2021 at 08:02hrs | | by Staff reporter
Zimbabwe blue chips shine in Africa
AT least five of Zimbabwe's biggest stock exchange-listed firms have made it to the list of Africa's best performing companies, defying storms stemming out of a two year old economic crisis, which was...Published: 03 Sep 2021 at 06:56hrs | 1 | by Staff reporter
Millers back fresh policies
ZIMBABWE'S milling industry have showered praises on under fire Finance minister, Mthuli Ncube for "continued strenuous efforts" in maintaining fiscal discipline to rebuild the troubled economy....Published: 29 Aug 2021 at 07:13hrs | | by Staff reporter
Stanbic maintains steady performance in first half
Stanbic Bank has transcended the macroeconomic challenges bedeviling the country to post an inflation adjusted profit after tax of ZWL 1.2 billion for the half year to June 2021.The Standard B...Published: 26 Aug 2021 at 08:26hrs | 2 | by Staff reporter
Zimbabwe's abattoirs struggle
ZIMBABWE'S abattoirs are struggling to secure slaughter stock, as farmers have turned to livestock to store value and hedge against inflation, according to a report by the Livestock and Meat Advisory ...Published: 22 Aug 2021 at 08:04hrs | | by Staff reporter
GMAZ happy with Mthuli Ncube and Mangudya
THE grain milling industry has hailed 2021 mid-term fiscal and monetary policies presented by authorities, underscoring that the twin policies would foster price and exchange rate stability, at a time...Published: 12 Aug 2021 at 11:02hrs | 7 | by Simbarashe Sithole
Banks to start paying interest on savings accounts
ZIMBABWE'S banks have agreed to scrap punitive charges and start paying interests on savings accounts and fixed term deposits in a landmark deal that could see customers trooping back to make longer t...Published: 08 Aug 2021 at 07:31hrs | | by Staff reporter
Zimbabwe banks defy headwinds
ZIMBABWE'S banking sector posted a combined ZW$15,1 billion (US$176,2 million) net profit during the first half of the year, after riding out headwinds posed by the deadly Covid-19 pandemic, Reserve B...Published: 06 Aug 2021 at 07:53hrs | | by Staff reporter
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