Search / Inflation
Policy flaws chasing Forex from the formal market
It is estimated that US$2.5 billion is circulating outside the formal banking system in Zimbabwe with households, businesses and foreign investors preferring to store their hard-earned foreign currenc...Published: 35 mins ago | 80 | by Victor Bhoroma
Mnangagwa's broke govt rules out US dollar salaries
GOVERNMENT has cast doubt over the possibility of paying civil servants in US dollars as inflation continues to ravage salaries amid growing tensions and fears of unrest, The NewsHawks can report....Published: 10 Aug 2022 at 08:47hrs | 2459 | by Staff reporter
Zimbabwe's cash-rich govt suppliers fuel currency volatility
GOVERNMENT procurement and service providers - who include public works contractors and suppliers of goods and services - are destabilising the foreign exchange market by offloading part of their stag...Published: 10 Aug 2022 at 08:40hrs | 1124 | by Staff reporter
Mnangagwa says his govt will constantly review civil service remuneration
PRESIDENT Emmerson Mnangagwa says the government will constantly review salaries and conditions of service for civil servants.Addressing the nation at the National Sports Stadium during the Zi...Published: 10 Aug 2022 at 06:38hrs | 702 | by Staff reporter
Mnangagwa told walk the talk
THE Zimbabwe Congress of Trade Unions (ZCTU) yesterday called on President Emmerson Mnangagwa to "walk the talk" on improving the welfare of civil servants.Mnangagwa made a pledge to improve c...Published: 10 Aug 2022 at 06:34hrs | 327 | by Staff reporter
Is Zimbabwe's new gold coin evidence of a broader global trend?
Saber rattling by the Chinese Communist Party stoked investor fears this week, putting upward pressure on gold prices. CCP officials felt aggrieved by House Speaker Nancy Pelosi's visit to Taiwan, whi...Published: 09 Aug 2022 at 08:20hrs | 241 | by Mike Gleason
School, parents clash over US$ fees
PARENTS and guardians of pupils at Nyamuzuwe High School have threatened to stage a protest against school authorities who they accuse of demanding United States dollars exclusively for fees, in contr...Published: 08 Aug 2022 at 05:48hrs | 379 | by Staff reporter
Omalayitsha: Matebeleland's unsung heroes
OMALAYITSHA (cross border transporters) are among the unsung heroes to most communities particularly in Matabeleland region where most families have relatives based in South Africa who send them money...Published: 08 Aug 2022 at 05:45hrs | 1850 | by Staff reporter
Econet cuts physical airtime sales to 10%
ECONET Wireless Zimbabwe has reduced physical airtime sales to 10 percent in line with the Reserve Bank of Zimbabwe directive regarding the phasing out of physical airtime distribution by mobile netwo...Published: 08 Aug 2022 at 05:43hrs | 177 | by Staff reporter
Zimbabwe average salary very low as poverty bites
SEVEN out of 10 employed people in Zimbabwe earned a monthly salary of ZW$20 000 in January this year, an income which was below the obtaining bread basket as urban poverty hits the southern African n...Published: 07 Aug 2022 at 18:51hrs | 382 | by Staff reporter
Mayor, councillors fume over US$20 monthly allowance
HARARE councillors are seething with anger, describing Local Government minister July Moyo (pictured) as inconsiderate and heartless in failing to review the paltry monthly allowances given to city fa...Published: 07 Aug 2022 at 18:49hrs | 254 | by Staff reporter
Econet to hike tariffs by 183%
LEADING telecommunications services provider, Econet Wireless Zimbabwe Limited (EWZL), is set to increase tariffs by a total 183% through staggered reviews in the next three months.The develop...Published: 07 Aug 2022 at 08:45hrs | 1003 | by Staff reporter
Power outages, vandalism strain Econet operations
TELECOMMUNICATIONS giant Econet Wireless Zimbabwe Limited says the persistent power outages across the country have adversely affected its operations and increased costs in its attempt to use alternat...Published: 07 Aug 2022 at 08:19hrs | 37 | by Staff reporter
Investors talk up Zimbabwe gold coins
Mosi-oa-Tunya gold coins, which were released into the market by the Reserve Bank of Zimbabwe (RBZ) on July 25, are an alternative investment option to US dollars, stocks and the property market, and ...Published: 07 Aug 2022 at 08:17hrs | 365 | by Staff reporter
'Fuel price drop must benefit consumers'
BUSINESSES should review prices of goods and services downwards in line with the recent decline in fuel prices, a Cabinet Minister has said.This comes as interventions by the Reserve Bank of Z...Published: 07 Aug 2022 at 08:16hrs | 45 | by Staff reporter
Mnangagwa govt okays US$ school fees
GOVERNMENT has given greenlight for schools to charge fees in United States (US) dollars, leading to calls for formal dollarisation as the majority of the country's workforce earn in Zimbabwe dollars....Published: 06 Aug 2022 at 19:26hrs | 1308 | by Staff reporter
When a president is forced to donate food to a starving nation then it proves he has failed as a leader!
When a country reaches a level - whereby, the president donating food to starving school pupils, who had cried out to him in desperation for help, is touted as a sign of good leadership and progress -...Published: 05 Aug 2022 at 09:50hrs | 2386 | by Tendai Ruben Mbofana
'We're winning (2023) Big! Faka pressure!' claim Chamisa - Doesn't even know who is piling what pressure and on whom?
For the first twenty years of our independence the nation trusted the late Robert Mugabe and his Zanu PF cronies whole heartedly, they were the liberation war heroes and heroines would could do no wro...Published: 05 Aug 2022 at 09:44hrs | 1362 | by Patrick Guramatunhu
Inside three swing provinces that will decide entry to State House in 2023 polls
The 2023 general election may see the highest turnout in decades, though it comes at the same time as vast uncertainty about the independent auditability of the voters roll and electoral systems, ball...Published: 05 Aug 2022 at 09:29hrs | 1712 | by Farai Chirimumimba
Bulawayo gets a key dam
A $42-million dam a century in the making could end water shortages for more than half a million Zimbabweans — and win votes for the ruling party in an opposition stronghold that may decide next yea...Published: 05 Aug 2022 at 06:43hrs | 3643 | by Staff reporter
Gweru hikes parking fees
GWERU City Council has increased parking fees from $400 to $450 per hour with effect from August 1.The last fee increase was in May this year."This notice serves to inform the motoring...Published: 05 Aug 2022 at 06:40hrs | 217 | by Staff reporter
Chamisa flags barren Zanu-PF leadership
Citizens Coalition for Change (CCC) leader Nelson Chamisa has dismissed government's 2022 Mid-Term budget statement as a blatant certification to citizen poverty adding the fiscal blueprint was reflec...Published: 04 Aug 2022 at 22:32hrs | 1949 | by Staff reporter
'Zimbabwe's bigwigs living lavishly as ordinary citizens starve'
HUMAN rights organisations have red-flagged the lavish lifestyles of the elite in the country at a time when ordinary citizens are struggling to put food on the table due to a faltering economy....Published: 04 Aug 2022 at 06:48hrs | 2768 | by Staff reporter
BCC offers domestic debtors 50% discount
BULAWAYO City Council (BCC) is now offering a 50% discount to domestic debtors and 30% to industrial debtors paying their bills in foreign currency.Councils began indexing rates in foreign cur...Published: 04 Aug 2022 at 06:46hrs | 605 | by Staff reporter
Another bread price hike looms
ZIMBABWEANS should brace for another bread price hike after the Grain Marketing Board (GMB) increased the price of wheat by 30%, industry officials said yesterday.NewsDay understands that GMB ...Published: 04 Aug 2022 at 06:44hrs | 459 | by Staff reporter
Lager beer production seen up 11%
DELTA Beverages says its lager beer portfolio is performing ahead of prior year, with a target to produce more than two million hectolitres this year, up 11% compared to prior year.Last year, ...Published: 04 Aug 2022 at 06:43hrs | 268 | by Staff reporter
Chamisa slams gold coins introduction in Zimbabwe
CITIZENS Coalition for Change leader, Nelson Chamisa, has slammed the introduction of gold coins, saying they are a conduit for corruption, and called for the country to return to exclusive use of the...Published: 03 Aug 2022 at 18:53hrs | 5329 | by Staff reporter
August 1 shooting victim wins $3m compensation
DEFENCE minister Oppah Muchinguri and her Home Affairs counterpart, Kazembe Kazembe, have been ordered to pay $3 million in compensation to a victim of the August 1, 2018 shootings by the army....Published: 03 Aug 2022 at 06:45hrs | 1462 | by Staff reporter
Western sanctions boomerang as Europe freeze
Western sanctions against Russia are the most ill-conceived and counterproductive policy in recent international history.The economic war is ineffective against Russia, and devastating for its...Published: 03 Aug 2022 at 06:40hrs | 472 | by Staff reporter
Zimbabwe roads authority increases toll gate fees by 39%
THE Zimbabwe National Roads Authority (ZINARA) has hiked toll fees by 39% in line with exchange rate movements.The new fees are with effect from 3 August 2022.In a statement Tuesday, t...Published: 02 Aug 2022 at 19:56hrs | 1127 | by Staff reporter
85% of gold coins sold in Zimdollars
THE Reserve Bank of Zimbabwe (RBZ) has revealed that 1 500 gold coins were sold by its agents during the first week of their release onto the market, signalling a strong demand for the yellow metal cu...Published: 02 Aug 2022 at 06:53hrs | 1626 | by Staff reporter
'Mthuli Ncube has failed us'
WOMEN's organisations have decried failure by Finance minister Mthuli Ncube to address "menstrual poverty" among girls and women who are failing to access affordable sanitary wear.Ncube last w...Published: 02 Aug 2022 at 06:47hrs | 799 | by Staff reporter
Zimbabwe to release another batch of gold coins
The Reserve Bank of Zimbabwe (RBZ) today said it will release an additional 2 000 gold coins this week, after the initial batch was highly subscribed.The Mosi-Oa-Tunya coins, which came into t...Published: 02 Aug 2022 at 06:44hrs | 371 | by Staff reporter
EcoCash records modest growth in first quarter
ECOCASH Holdings Zimbabwe Limited recorded modest growth in the first quarter to May 31, 2022 supported mainly by the fintech business which remains the group's highest revenue contributor.In ...Published: 02 Aug 2022 at 06:43hrs | 73 | by Staff reporter
Civil servants abusing vehicle import rebate
Some of the civil servants recently allowed to import vehicles duty-free are now abusing the privilege, importing vehicles for other people and charging a "fee" of between US$700 and US$1 500 dependin...Published: 02 Aug 2022 at 06:43hrs | 527 | by Staff reporter
Zimbabwe inflation on downward spiral?
The introduction of gold coins and a review of payment methods for suppliers of goods and services, particularly those undertaking major national infrastructure projects, is expected to see a decline ...Published: 02 Aug 2022 at 06:42hrs | 366 | by Staff reporter
Mnangagwa's govt targets 3 million tonnes of maize
THE Government is targeting to produce 3 million tonnes of maize during the 2022/23 summer cropping season with preparations already underway.This comes as the Second Republic has made food se...Published: 02 Aug 2022 at 06:42hrs | 71 | by Staff reporter
Mthuli Ncube, civil servants meet over salaries
PUBLIC Service minister Paul Mavima has invited more than 40 public service unions to a meeting to discuss salaries and conditions of service today.Finance minister Mthuli Ncube is expected to...Published: 01 Aug 2022 at 06:37hrs | 1205 | by Staff reporter
Zimbabwe companies miss Zimra revenue target
THE ZIMBABWE Revenue Authority (Zimra) says companies, which are some of the major contributors to revenue, missed the target for the quarter by 17,8% due to depressed economic performance and negativ...Published: 01 Aug 2022 at 06:36hrs | 322 | by Staff reporter
Zimbabwe banks run out of gold coins
DEMAND for the new Zimbabwean gold coins has been overwhelming and banks have been inundated by their corporate and individual customers seeking a legal and sensible way of preserving value.Th...Published: 01 Aug 2022 at 06:35hrs | 7158 | by Staff reporter
Bulawayo residents up in arms with councillors
BULAWAYO residents have come out guns blazing accusing local councillors of "rubber stamping" any decision made by the council management while ignoring genuine grievances from the people they represe...Published: 01 Aug 2022 at 06:34hrs | 319 | by Staff reporter
Push for new route to the sea
IN a short four years, President Mnangagwa and his team have ushered in and carried out breathtaking reforms in our national economic management. He is scoring successes in all the fundamental...Published: 01 Aug 2022 at 06:33hrs | 542 | by Monica Mutsvangwa
Huge appetite for Zimbabwe gold coins
ZIMBABWE'S central bank has registered an overwhelming uptake of the Mosi-oa-Tunya gold coin after local financial institutions, pension funds, insurance companies and individuals bought the bulk of t...Published: 31 Jul 2022 at 17:51hrs | 6074 | by Staff reporter
Zimbabwe banking on gold to fight inflation
With inflation soaring in Zimbabwe and the country's currency in free fall as people abandon it for the US dollar, the government of President Emmerson Mnangagwa is fighting back with a novel strategy...Published: 31 Jul 2022 at 09:13hrs | 1138 | by Lesley Wroughton
Zimbabwe inflation spikes to 257%
ZIMBABWE'S year-on-year inflation jumped to 256,9% this month, up from 191% in June, evoking memories of the 2008 hyper-inflationary era nightmares as prices of basic goods continue to skyrocket....Published: 30 Jul 2022 at 19:09hrs | 213 | by Staff reporter
Residents challenge BCC over 'unreasonable' bills
BULAWAYO residents have challenged the Bulawayo City Council (BCC) over astronomical bills, but city fathers said they are not to blame because inflation has pushed up the cost of everything.T...Published: 30 Jul 2022 at 19:08hrs | 131 | by Staff reporter
Propaganda, lies will not resurrect Zim economy
The country's economy is on its knees and probably needs biblical resurrection or else to simply certify it dead.The Zanu-PF government has lost its marble and it's millennium economic d...Published: 30 Jul 2022 at 18:04hrs | 199 | by Leonard Koni
No joy in Mthuli Ncube's budget
CALLS by Zimbabwe's restive civil service for United States dollar salaries went unheeded by Finance minister Mthuli Ncube yesterday.Ncube doubled the national budget to $1,9 trillion as a res...Published: 29 Jul 2022 at 06:54hrs | 2982 | by Staff reporter
RBZ says lacking expertise on recovered funds
THE Reserve Bank of Zimbabwe (RBZ) said it lacked knowledge to manage over $1,5 million forfeited funds and assets, a situation that has resulted in such properties being stuck at its asset management...Published: 29 Jul 2022 at 06:53hrs | 591 | by Staff reporter
'Mthuli Ncube is out of touch with reality'
MARONDERA Urban Business Forum chairperson Emmanuel Danha: "While the supplementary budget was expected and normal in a hyperinflationary economy such as ours, we note with concern the absence of fres...Published: 29 Jul 2022 at 06:52hrs | 875 | by Staff reporter
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