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Corporate Governance and State Entities Decay in Zimbabwe
The unfolding corporate governance scandal at Zimbabwe Electricity Supply Authority (ZESA) provides a hint of how the country's State Entities and Parastatals (SEPs) have been run down over the years....Published: 07 Aug 2020 at 22:11hrs | 1141 | by Victor Bhoroma
GNU best way out of Zimbabwe crisis
UNITED Kingdom-based lawyer and blogger Alex Magaisa last month published a list of beneficiaries of the Reserve Bank of Zimbabwe (RBZ) farm mechanisation programme, that included cabinet ministers, Z...Published: 07 Aug 2020 at 09:06hrs | 2109 | by Staff reporter
Mozambican govt begs Zimbabwe for military rescue
THE Mozambican government, battling an Islamist insurgency which has cost more than 1 000 lives, has abandoned the idea of seeking military intervention from the Southern African Development Community...Published: 07 Aug 2020 at 09:04hrs | 3497 | by Staff reporter
Covid-19 delays jatropha energy project comeback
The outbreak of the corona virus, or Covid-19, has delayed the anticipated revival of the jatropha energy project in Zimbabwe.In 2017, the Zimbabwe government announced that it had rekindled t...Published: 02 Aug 2020 at 09:22hrs | 122 | by Green Energy Zimbabwe
Govt approves dual pricing
GOVERNMENT has authorised the pricing of goods and services in both the local currency and the United States dollar, barely a year after ditching the multi-currency regime."It is hereby notifi...Published: 27 Jul 2020 at 08:49hrs | 1658 | by Staff reporter
Was the shutting down of mobile money, ZSE a necessary evil?
ON June 26, 2020 the Information ministry announced in a tweet that all mobile money transactions and the Zimbabwe Stock Exchange (ZSE) would stop transacting forthwith.The authorities halted ...Published: 26 Jul 2020 at 11:11hrs | 2667 | by Admire Maparadza Dube
Zimbabweans companies want to trade in Rand
CAPTAINS of industry in Bulawayo have pleaded with the Minister of Finance and Economic Development, Professor Mthuli Ncube, to promote the wide use of the South African rand to complement the multi-f...Published: 26 Jul 2020 at 10:57hrs | 645 | by Staff reporter
'Mnangagwa ignoring silent genocide at public hospitals'
PRESIDENT Emmerson Mnangagwa's government has been accused of ignoring the plight of striking nurses and other health workers leading to a "silent genocide" at public hospitals.The situation h...Published: 24 Jul 2020 at 08:11hrs | 741 | by Staff reporter
Over 1 000 arrested for violating Covid-19 curfew
MORE than 1 000 people were arrested on Wednesday countrywide for flouting Covid-19 national lockdown regulations while in Bulawayo, police arrested 170 people and impounded 90 vehicles for lockdown d...Published: 24 Jul 2020 at 07:42hrs | 641 | by Staff reporter
Zanu-PF to blame for corruption
SOME people are lucky. They invaded farms and seized all equipment, cattle, crops (tobacco, citrus fruits, maize and macadamia nuts) because they are Zanu-PF members.The ran everything down an...Published: 21 Jul 2020 at 09:20hrs | 577 | by Chenje Zangu
Zimbabwe headed for upheaval, report says
WITH security forces having seized control of economic and financial policy at a time of shrinking GDP and skyrocketing inflation, Zimbabwe is facing its worst crisis in more than a decade.Bas...Published: 19 Jul 2020 at 09:23hrs | 16746 | by Elliot Smith
Key aspects sinking the Zimbabwean Dollar
The Zimbabwean economy is rapidly re-dollarizing, less than 12 months after the government banned the trading of multiple currencies through Statutory Instrument 142 of 2019 and introduced a local cur...Published: 19 Jul 2020 at 07:03hrs | 3290 | by Victor Bhoroma
Zimbabwe gears for energy surplus?
Zimbabwe will have enough power to push forward its rapid industrialisation from 2023 and is poised to become an exporter of electricity as new coal and coal gas generation capacity being planned or c...Published: 18 Jul 2020 at 08:37hrs | 554 | by Staff reporter
Mthuli Ncube avoids supplementary budget
GOVERNMENT has remained vague on how it plans to provide safety nets for vulnerable citizens despite the growing social needs in the economy as Finance minister Mthuli Ncube yesterday failed to table ...Published: 17 Jul 2020 at 07:45hrs | 559 | by Staff reporter
ZSE resumes trading
The Zimbabwe Stock Exchange (ZSE) will resume the trading of shares next week minus three fungible securities, nearly a month after the local bourse was forced to suspend trades on allegations of spec...Published: 16 Jul 2020 at 08:03hrs | 2947 | by Staff reporter
Zimbabwe loses US$1 billion to smuggling annually
Smuggling, ineffective border controls and customs loopholes at Beitbridge Border Post might be costing Zimbabwe nearly a US$1 billion a year in unpaid customs duty, industry leaders and authorities c...Published: 15 Jul 2020 at 08:20hrs | 371 | by Staff reporter
Millers table US$ price for subsidised mealie-meal
GRAIN millers have tabled a proposal to increase the price of subsidised roller meal from $70 to between US$2,50 and US$3,50 per 10 kilogramme to cushion themselves from operational challenges....Published: 12 Jul 2020 at 10:36hrs | 558 | by Staff reporter
'Zimbabwe's fuel pricing structure is flawed, uncompetitive'
AS the country reels under acute fuel shortages, compounded by the depreciating Zimbabwean dollar and limited foreign currency, senior reporter Tinashe Kairiza (TK) this week spoke to National Oil Inf...Published: 10 Jul 2020 at 07:11hrs | 1634 | by Staff reporter
Pressure mounts on Mnangagwa
Pressure is mounting on President Emmerson Mnangagwa's administration to resolve the economic crisis as the cost of living skyrockets.This comes as the local currency continues to lose value a...Published: 09 Jul 2020 at 20:53hrs | 9734 | by Staff reporter
Zimra workers on go-slow
CUSTOMS and excise officers at Beitbridge border post and other stations yesterday briefly downed tools and later opted to go slow to register disgruntlement over poor wages, although the tax agency d...Published: 04 Jul 2020 at 15:40hrs | 1729 | by Staff reporter
485 irregularly imported vehicles unearthed
A special post-vehicle clearance audit last year into vehicle imports, unearthed 485 irregular import documents with a potential revenue inflow prejudice to Treasury valued at US$70 million, the Zimba...Published: 01 Jul 2020 at 07:12hrs | 1397 | by Staff reporter
Matiza should not lie about wagons deal
IN response to 'COVID-19 delays wagons delivery from Russia', MBUDAYA says: Government has been lying since independence. The issue of National Railways of Zimbabwe recapitalisation has been o...Published: 29 Jun 2020 at 07:50hrs | 1320 | by Staff reporter
Bankable land could reignite Zimbabwe economy
THE solution to Zimbabwe's unending economic problems is the provision of bankable land rights, which will spur farming as real business, a renowned economist has said.John Robertson said at a...Published: 28 Jun 2020 at 07:58hrs | 174 | by Staff reporter
Zimbabwe's former Economic Minister slams government
Zimbabwe's former Minister of Economic Planning and Investment Promotion, Dr. Tapiwa Mashakada has slammed at the country's recent foreign currency auction.On Tuesday, the government launched ...Published: 27 Jun 2020 at 10:37hrs | 4870 | by Daniel Itai, Harare, Zimbabwe
'Zimbabwe slowly but surely re-dollarising'
GOVERNMENT last week announced a 50% increment and a Covid-19 allowance of US$75 for civil servants and US$30 for pensioners. This is despite government earlier banning the multi-currency regime and m...Published: 26 Jun 2020 at 07:39hrs | 1487 | by Staff reporter
New exchange rate trebles customs duty
THERE has been an outcry at all ports of entry after the Zimbabwe Revenue Authority (Zimra) hiked duty of all imported goods following a hike in the exchange rate by the Reserve Bank of Zimbabwe on Tu...Published: 26 Jun 2020 at 07:32hrs | 1485 | by Staff reporter
How RBZ, govt sabotaged plans to restore Zimdollar
UNITED States $75 allowances and allowing retailers to trade in forex show a government shifting into reverse gear, possibly ditching two years' worth of policy steps to end dollarisation.The ...Published: 26 Jun 2020 at 07:26hrs | 6362 | by Staff reporter
Zimra nets $23,1bn revenue in 2019
THE Zimbabwe Revenue Authority (Zimra) says it managed to collect a net revenue of $23, 19 billion in 2019 against a planned $18, 6 billion target for the year. The tax authority is employing ...Published: 26 Jun 2020 at 06:57hrs | 138 | by Staff reporter
Radical Economic Structural Transformation REST (part 5 of 10)
There is no doubt that without a fundamental structural transformation of our economy from a dualistic enclave economy, whose economic activity is mainly driven by the production of primary products, ...Published: 25 Jun 2020 at 16:45hrs | 286 | by Vince Musewe
Pessimism grips forex platform
Business wants more "transparency more than promises" on the foreign currency auction system for the platform to succeed as the parallel market continued unabated yesterday, a day after monetary autho...Published: 25 Jun 2020 at 16:36hrs | 2206 | by Staff reporter
'Zimbabwe needs bailout or political breakthrough'
Zimbabwe cannot revive its economy without an international bailout, but any bailout is most likely to come with political and economic conditions attached to it. This comes as the economy is forecast...Published: 24 Jun 2020 at 17:44hrs | 886 | by Staff reporter
Forex exchange auction trading system off to a good start
The foreign exchange auction trading system has made a good start when it kicked-off in Harare today (June 23, 2020), without any great difficulty.On its first day, bids worth about US$11,4 mi...Published: 23 Jun 2020 at 19:33hrs | 3025 | by Nathan Gurira
Mnangagwa's move to pay civil servants USD allowances is 'crazy'
The Zimbabwean government's move to pay its workers US dollar-denominated allowances as the southern African country struggles to stabilise its local currency has been described as "crazy" by an econo...Published: 23 Jun 2020 at 18:19hrs | 1759 | by Staff reporter
Banks, Govt agree on allowances' modalities
BANKS have agreed with the Government on the modalities of the opening Foreign Currency Accounts (FCAs) for civil servants at zero costs and also to charge minimal costs so that the US$75 is not demea...Published: 23 Jun 2020 at 07:48hrs | 1532 | by Staff reporter
RBZ launches foreign exchange auction today
The Reserve Bank of Zimbabwe (RBZ)today replaces the interbank market with weekly foreign exchange auctions to determine the Zimbabwe dollar exchange rate with those in industry and commerce cautiousl...Published: 23 Jun 2020 at 07:47hrs | 1641 | by Staff reporter
Zimbabwe plans to scrap fuel subsidy
ZIMBABWE'S central bank may stop providing the foreign currency needed for fuel imports, handing over the responsibility to private companies, Bloomberg reports quoting unnamed sources.The mov...Published: 21 Jun 2020 at 18:02hrs | 4138 | by Agencies
Zimbabwe's cost of living rises
ZIMBABWEAN companies and consumers are facing severe pressure from rising cost of living as well as effects of the coronavirus pandemic, analysts have warned.Consumers' real wages are being er...Published: 21 Jun 2020 at 16:59hrs | 886 | by Staff reporter
Zimbabwe records marginal increase in exports receipts
ZIMBABWE'S exports marginally increased by 2% to US$1,24 billion during the first four months of the year, largely driven by commodities such as gold and tobacco, official statistics reveal.Fi...Published: 21 Jun 2020 at 11:43hrs | 426 | by Staff reporter
Zimbabwe troops accused of disrupting the economy
Security forces have been accused of disrupting the economy through the chaotic implementation of Covid-19 lockdown regulations after they forced the closure of Bulawayo businesses without notice last...Published: 21 Jun 2020 at 11:37hrs | 594 | by Staff reporter
RBZ chief clarifies local currency
FARMERS, gold miners and other producers who have been crying foul over the 1:25 fixed interbank exchange rate have something to smile about as the Reserve Bank of Zimbabwe (RBZ) starts implementing t...Published: 21 Jun 2020 at 11:07hrs | 4493 | by Staff reporter
Goobye interbank rate!…RBZ chief speaks on auction system
FARMERS, gold miners and other producers who have been crying foul over the 1:25 fixed interbank exchange rate have something to smile about as the Reserve Bank of Zimbabwe (RBZ) starts implementing t...Published: 21 Jun 2020 at 08:15hrs | 4437 | by Staff Reporter
Mnangagwa's ally pockets US$54m in fresh bus deal
PRESIDENT Emmerson Mnangagwa's adviser and Sakunda Holdings boss Kuda Tagwirei, who has been pocketing millions of dollars from dodgy state contracts, will smile all the way to the bank after making a...Published: 19 Jun 2020 at 08:26hrs | 6166 | by Staff reporter
Chamisa insists that ball is in Mnangagwa's court
AS ZIMBABWE'S political and economic crises continue to deepen, Nelson Chamisa says the ball is in President Emmerson Mnangagwa's court to initiate sincere and inclusive national dialogue to help reso...Published: 18 Jun 2020 at 17:47hrs | 5112 | by Staff reporter
Radical Economic Structural Transformation REST (part 4 of 10)
The Modernisation and Industrialisation of Provincial Economies (MIPE) is key in creating inclusive growth, creating local employment opportunities, eradicating poverty and ensuring that provincial ec...Published: 18 Jun 2020 at 16:43hrs | 300 | by Vince Musewe
Cargo traffic surges at Beitbridge Border
THE volume of commercial cargo traffic using Beitbridge Border Post has increased since the start of the lockdown period, which most Sadc countries are implementing to curb the spread of the Coronavir...Published: 15 Jun 2020 at 15:11hrs | 3202 | by Staff reporter
Millers red-flag truckers' conduct
THE Grain Millers Association of Zimbabwe (GMAZ) has expressed concern over alleged violation of Covid-19 regulations by truck drivers as they bring grain into the country from South Africa. A...Published: 15 Jun 2020 at 07:22hrs | 499 | by Staff reporter
Heavy traffic poses threat to toll bridge
ZIMBABWE's biggest transport cash cow structure, the New Limpopo Toll Bridge, is under threat due to the static weight of haulage trucks stuck at the border because of lockdowns in the region....Published: 14 Jun 2020 at 10:06hrs | 444 | by Staff reporter
Arrest Collins Mnangagwa and Mthuli Ncube: send them to rot in remand prison!
Finance Minister must answer charges of attempting to defraud international finance houses arguing that the funding is meant to alleviate coronavirus challenges and imminent coup. From the press confe...Published: 13 Jun 2020 at 23:32hrs | 7043 | by Nomazulu Thata
47 truck drivers arrested
At least 47 drivers have been arrested for ferrying passengers in violation of Covid-19 lockdown regulations, with grain millers warning drivers that they face a mandatory 21-day quarantine. T...Published: 12 Jun 2020 at 07:02hrs | 1520 | by Staff reporter
Radical Economic Structural transformation REST (part 3 of 10)
"No goods should leave our borders unprocessed and no goods should enter our borders that we cannot process and add value locally."It was Ibbo Mandaza who wrote on "the failure of Zimbabwe- to...Published: 11 Jun 2020 at 09:43hrs | 860 | by Vince Musewe
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