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Economy facing new de-industrialization wave
Zimbabwe's hyperinflation and the general economic decline are now posing serious viability challenges for the local industry. This will be a second phase of de-industrialization in a space of 2 decad...Published: 7 hrs ago | 634 | by Victor Bhoroma
Zimra Q3 revenue tops $6,6 billion
THE Zimbabwe Revenue Authority (Zimra) has surpassed its revenue target for the third quarter of the year after collecting $6,59 billion, which is 26,55 percent above its target of $6 billion. ...Published: 21 hrs ago | 280 | by Staff reporter
Mnangagwa buys massive beachfront villa in Dubai?
BERLIN - Spendthrift President Emmerson Mnangagwa, has reportedly bought an exquisite massive beachfront villa in Dubai, where he intends to retire or alternatively use the opulent property as an exil...Published: 21 Oct 2019 at 10:22hrs | 36957 | by Itai Mushekwe
BancABC funds 2019/20 agriculture season
Banc ABC says it has set aside funds to benefit farmers in the 2019/20 farming season.This comes after the 2018/19 farming season was greatly affected by poor rainfall, resulting in a serious drought....Published: 21 Oct 2019 at 07:43hrs | 506 | by Staff reporter
SA economist urges Zimbabwean authorities to think outside the box
A SOUTH AFRICAN economist, Nisha Sewdass, has urged the Zimbabwean authorities to think outside the box and in a disruptive way to rescue the nation from economic rot.Sewdass made the remarks at t...Published: 21 Oct 2019 at 07:42hrs | 1030 | by Staff reporter
National Foods expects 86% revenue growth
if the economic environment remains unstable by the year ending March 31, 2020, National Foods Holdings Limited (NFHL) expects an 84,6% revenue growth to $1,05 billion spurred by inflationary pressure...Published: 21 Oct 2019 at 07:41hrs | 162 | by Staff reporter
Mthuli Ncube cut his nose to spite his face
ZIMBABWE businesses, grappling with the realities of hyperinflation and exchange rate induced losses, have pressed the panic button over worsening macro-economic conditions in the country, with severa...Published: 18 Oct 2019 at 18:26hrs | 2316 | by Phillimon Mhlanga
Zimbabwe-dollarisation impacts on the banking sector
COUNTRIES forced into dollarisation usually find it impossible to de-dollarise and Zimbabwe's mid-year efforts to do so adds another country to the long list of those that tried and failed.Gov...Published: 18 Oct 2019 at 05:29hrs | 208 | by Tony Hawkins
Tsvangirai and Chamisa plotted the death of thousand Zimbabweans
Zimbabwe has suffered from unrelenting onslaught from Europe and America. The onslaught is done in the form of sanctions which has brought zimbabwe to its knees. Zimbabwe has struggled for seventeen&n...Published: 17 Oct 2019 at 22:14hrs | 155 | by Dr Masimba Mavaza
ZANU PF petitions Donald Trump
Some ZANU PF members have launched an online petition to urge United States of America President Donald Trump to remove the sanctions against Zimbabwe. America has a law called ZDERA which bar...Published: 16 Oct 2019 at 18:22hrs | | by Mandla Ndlovu
Massive power cuts to be implemented
The national power company ZETDC has announced that it is going to escalate the electricity load-shedding to Stage 2 due to the massive power cuts that is happening in the neighbouring South Africa. ...Published: 16 Oct 2019 at 11:41hrs | 1673 | by Mandla Ndlovu
Mnangagwa must swallow his pride and allow Zimbabwe to work again
Fellow esteemed leaders, fellow Zimbabweans, ladies and gentlemen, friends and relatives, brothers and sisters. Zimbabwe is burning and the centre cannot hold.Our leadership must b...Published: 16 Oct 2019 at 08:16hrs | 3325 | by Leonard Koni
Cabinet approves infrastructrure master plan
Cabinet yesterday approved an integrated National Infrastructure Development Master Plan that will ensure development of the country's infrastructure and utilities will be done in a co-ordinated manne...Published: 16 Oct 2019 at 07:21hrs | 552 | by Staff reporter
Zimdollar crashes further
THE Zimbabwean dollar this week continued its downward spiral after a momentary lull last week following the central bank moved to freeze bank accounts of companies believed to be exerting downward pr...Published: 15 Oct 2019 at 18:39hrs | 723 | by Staff reporter
Questions arising from Treasury's strategy paper
THREE official documents published in recent weeks paint a different, but fundamentally depressing pictures of Zimbabwe's economy. All pose more questions than answers, leaving readers to ponder the m...Published: 15 Oct 2019 at 06:54hrs | 769 | by Tony Hawkins
Trade deficit narrows by 63%
ZIMBABWE'S trade deficit narrowed by 63% to US$644 million between February and August this year compared to the same period last year, due to shortages of foreign currency for imports.Figures...Published: 15 Oct 2019 at 06:51hrs | 699 | by Staff reporter
Mureza's Prim8 eyes local market
A ZIMABWEAN-OWNED African car brand Mureza Auto Company, headquartered in South Africa is set to start assembling its vehicle, Prim8 (pronounced Primate) re-badged from Iran's SAIPA Quick at Willowval...Published: 14 Oct 2019 at 06:45hrs | 563 | by Staff reporter
Hwange Power Station set for US$3,6m refurbishment
Power utility, Zesa, is undertaking a US$3,6 million refurbishment of Hwange Thermal Power Station Unit 6 expected to be complete in December.Completion of the works will pave way for the Zimb...Published: 13 Oct 2019 at 06:58hrs | 152 | by Staff reporter
Ingwebu re-introduces Royal Mahewu
REVAMPED Bulawayo Municipal Commercial Undertaking (BMCU)'s beverages manufacturing unit, Ingwebu Breweries is envisaging using its re-introduced non-alcoholic sorghum drink, Royal Mahewu as a springb...Published: 13 Oct 2019 at 06:57hrs | 233 | by Staff reporter
RBZ clarifies position on forex withdrawals
THE withdrawal of individual free funds remains permissible in hard currency and the funds can be retained in Foreign Currency Accounts (FCA) indefinitely as rules have not changed, the Reserve Bank o...Published: 12 Oct 2019 at 10:27hrs | 1593 | by Staff reporter
More economic pain for Zimbabweans
Zesa Holdings (Zesa) has announced shocking plans to hike power tariffs in the country every month - and in line with prevailing foreign currency exchange rates. Zimbabwe raised its averag...Published: 10 Oct 2019 at 07:46hrs | 1440 | by Staff reporter
Zimbabwe drafting new coal tariffs
GOVERNMENT has paid tribute to Makomo Resources for keeping the nation's lights on by continuously supplying coal to the Zimbabwe Power Company at a time the country's economy and coal mining sector a...Published: 10 Oct 2019 at 06:56hrs | 243 | by Staff reporter
Mthuli tables ambitious revenue collection figures
TREASURY has tabled an ambitious $14 billion revenue collection target by year 2019, despite only collecting a paltry 35% of that figure in the first half of the year.Revenue collections for t...Published: 10 Oct 2019 at 06:45hrs | 2375 | by Staff reporter
Zimra officer on the run
POLICE have launched a manhunt for a Zimbabwe Revenue Authority (Zimra) officer Sekelwe Maphosa who is part of a gang that defrauded the authority of millions of dollars in a fraudulent vehicle cleara...Published: 10 Oct 2019 at 06:30hrs | 1329 | by Staff reporter
Why Zimbabwe quadrupled its electricity prices
Zimbabwe has increased the average electricity tariff by 320% to let the state power utility ramp up production and improve supplies at a time of daily rolling power cuts, the national energy regulato...Published: 09 Oct 2019 at 17:29hrs | 2622 | by Reuters
Local firms seek to partner UK companies
SOME local companies are reportedly negotiating distributor arrangements with United Kingdom (UK) firms and have identified business partners who will provide machinery for value-adding their products...Published: 09 Oct 2019 at 07:08hrs | 235 | by Staff reporter
Zanu-PF's tax evasion outs govt
The Zanu-PF government is taxing people dead on one hand, but is an artful dodger of tax on the other. That's an insulting contradiction.Months ago, Mthuli Ncube, the Finance minister, introdu...Published: 06 Oct 2019 at 15:40hrs | 748 | by Tawanda Majoni
Powerless Zesa blacklists debtors
ZESA Holdings has embarked on a nationwide blitz on defaulters and is blacklisting them so that they cannot open new accounts using different addresses. In an interview, ZESA spokesperson Mr F...Published: 05 Oct 2019 at 05:50hrs | 12 | by Staff reporter
Zimdollar plunges 135,7%
THE Zimdollar has devalued by 135,7% to $15,25 against the greenback on the interbank market since it was declared the sole legal tender on June 24, owing to persistent foreign currency shortages and ...Published: 04 Oct 2019 at 07:49hrs | 431 | by Staff reporter
Zimra official denied bail
A 29-YEAR-OLD Zimbabwe Revenue Authority (Zimra) official accused of defrauding his employer of US$433 000 and $1,5 million while stationed at Plumtree Border Post was yesterday denied bail by a Bulaw...Published: 04 Oct 2019 at 07:27hrs | 196 | by Staff reporter
11 500MW required to power Zimbabwe's Vision 2030
GOVERNMENT has called on the private sector to come on board and help increase investment in the energy sector to buttress attainment of an upper middle-income economy by 2030, which will require abou...Published: 04 Oct 2019 at 07:04hrs | 7 | by Staff reporter
ZANU PF Youths demands 40% of farming equipmwemt
ZANU PF Deputy Secretary for Youth Affairs Lewis Matutu says the youths are demanding 40% of the farming equipment that was promised to farmers by President Emmerson Mnangagwa during the State of the ...Published: 03 Oct 2019 at 11:07hrs | 714 | by Mandla Ndlovu
Another Zesa tariff hike looms
THE Zimbabwe Electricity Transmission and Distribution Company (ZETDC) has applied to the Zimbabwe Energy Regulatory Authority (Zera) seeking another adjustment of electricity tariffs, saying the curr...Published: 03 Oct 2019 at 07:58hrs | 1253 | by Staff reporter
Zimbabwe imports 80% medicines
ZIMBABWE and other African states are pushing for the establishment of an African Medicines Agency in an effort to reverse the trend whereby the continent is being turned into a dumping ground for cou...Published: 03 Oct 2019 at 07:31hrs | 10 | by Staff reporter
Zimra official forges Customs papers
A ZIMBABWE Revenue Authority (Zimra) official stationed at Plumtree Border Post has been arrested for allegedly forging customs documents to facilitate the smuggling of 50 cars into the country, preju...Published: 03 Oct 2019 at 07:30hrs | 189 | by Staff reporter
We've no forced labour evidence on Zimbabwe diamonds, says US Embassy
The United States (US) Embassy in Harare, which influenced its capital to bar rough diamonds from Zimbabwe on allegations of forced labour, yesterday admitted it had no primary evidence of the practic...Published: 03 Oct 2019 at 07:17hrs | 192 | by Staff reporter
Zimra loses US$430k to employee
A ZIMBABWE Revenue Authority (Zimra) employee stationed at Plumtree Border Post has been arrested on charges of defrauding his employer of over US$430 000 and over $1,4 million.Norest Ushe (29...Published: 02 Oct 2019 at 06:39hrs | 1708 | by Staff reporter
Zimdollar to boost manufacturing sector, says Mnangagwa
THE re-introduction of a mono-currency should rejuvenate the country's manufacturing sector to produce more and benefit from increased export competitiveness, President Mnangagwa has said. Exp...Published: 02 Oct 2019 at 06:34hrs | 626 | by Staff reporter
Zesa applies for tariff review
The Zimbabwe Electricity Transmission and Distribution Company (ZETDC) has applied to the Zimbabwe Energy Regulatory Authority (ZERA) for an electricity tariff increment to allow it to improve electri...Published: 02 Oct 2019 at 06:31hrs | 212 | by Staff reporter
Zimbabwe rejects US claim that diamond mine uses forced labour
Zimbabwe accused the U.S. of ignorance after the U.S. Customs and Border Protection announced it's blocking rough diamond imports from the Marange fields because they were produced with forced labor....Published: 01 Oct 2019 at 20:53hrs | 647 | by Bloomberg
Mnangagwa described Zimbabwe economy as 'dead'
President Emmerson Mnangagwa, has described the southern African country's economy as "dead" and said more time is needed turn it around.Zimbabwe has been facing a myriad of challenges includi...Published: 01 Oct 2019 at 19:12hrs | 2280 | by Staff reporter
Cash in-out ban to halt Zimbabwe's commerce
A Zimbabwean government directive banning the purchase and sale of cash through mobile-money services may halt much of the nation's commerce as the biggest system will have to be shut down temporarily...Published: 01 Oct 2019 at 18:46hrs | 1831 | by Bloomberg News
Mnangagwa to shake up Zesa
President Emmerson Mnangagwa says his government will shake up the country's power utility Zesa to enhance efficiency against the background of incessant power cuts. Mnangagwa said he will imp...Published: 01 Oct 2019 at 14:26hrs | 2711 | by Staff Reporter
Mnangagwa invited to Israel
ISRAEL has invited President Mnangagwa to that country in a new chapter of diplomatic relations between the two nations which last held high level engagements 20 years ago. President Mnangagwa...Published: 01 Oct 2019 at 06:36hrs | | by Staff reporter
Govt liberalises grain imports
GOVERNMENT has given the greenlight to individuals and corporates with free funds to import any quantities of grain into the country to complement Treasury efforts in ensuring adequate food reserves. ...Published: 01 Oct 2019 at 06:34hrs | 117 | by Staff reporter
MDC Reading donate to local Charity, whilst ZANU PF starves Zimbabweans and puts High Duty rates on even family Food gifts
In the true spirit of Ubuntu, on Saturday 21st September 2019, the MDC Reading branch members showed that they care about others less fortunate than themselves. With the united nations currently...Published: 27 Sep 2019 at 11:44hrs | 1510 | by Thabo Makuyana
Zimdollar depreciates further
THE Zimbabwean dollar this week continued its downward spiral after a momentary lull last week after the central bank moved to freeze bank accounts of companies believed to be exerting downward pressu...Published: 27 Sep 2019 at 07:42hrs | 1410 | by Staff reporter
Gold weighs on June exports
ZIMBABWE's exports fell 32 percent in June this year weighed down by reduced shipments of major mineral exports, latest statistics from the Reserve Bank of Zimbabwe (RBZ) show. The drop in exp...Published: 24 Sep 2019 at 07:41hrs | 11 | by Staff reporter
'Agriculture will be Zimbabwe's trump card'
Zimbabwe must use the agriculture sector and its value chain to leverage on the newly established African Continental Free Trade Area (Afcfta), which has a market of more than 1,2 billion people....Published: 22 Sep 2019 at 09:31hrs | 380 | by Staff reporter
Zimbabwe to ratify trade pact with Brexit threatened UK
Zimbabwe will soon ratify a bilateral trade agreement with the United Kingdom (UK) to secure favourable trade terms ahead of Britain's expected exit from the European Union (EU).As the UK is p...Published: 22 Sep 2019 at 09:25hrs | 274 | by Staff reporter
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