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Painful policies pay off, says Mnangagwa
ZIMBABWE has begun to enjoy the fruits of painful policies introduced by the Second Republic when it came to power, with consistent electricity and fuel supplies and a stable local currency.Mo...Published: 11 hrs ago | 592 | by Staff Reporter
Zimbabwe poverty reaches alarming levels
ABOUT 1.5 million people living in Zimbabwe's urban centres plunged into alarming penury after their livelihoods were disrupted by the outbreak of Covid-19 and restrictions which were enforced to cont...Published: 17 Apr 2021 at 16:18hrs | 386 | by Staff reporter
Duty hikes to affect BAT volumes
VOLUMES at the Zimbabwe Stock Exchange-listed cigarette producer, British American Tobacco (BAT) will remain under pressure until the second half of 2021 as recent excise duty hikes may trigger price ...Published: 16 Apr 2021 at 07:55hrs | 188 | by Staff reporter
Why Zimbabwe must dollarise again
THE Reserve Bank of Zimbabwe (RBZ)'s new Monetary Policy Committee (MPC) hit the ground running on March 26, announcing a raft of policy measures to sustain the fragile stability that has seen inflati...Published: 15 Apr 2021 at 07:32hrs | 3241 | by Taurai Mangudhla
US$ prices must come with US$ salaries, says MDC Alliance
THE main opposition MDC Alliance has blasted government for its decision to price passport fees in United States dollars at a time when workers in the country earn measly amounts in local currency....Published: 13 Apr 2021 at 06:41hrs | 955 | by Staff reporter
'Funeral insurers overcharge clients'
Zimbabwe's funeral insurance players may be overcharging clients, the latest sector report from the Insurance and Pensions Commission suggests. The regulator has noted significant incongruity between ...Published: 13 Apr 2021 at 06:21hrs | 406 | by Staff reporter
Murowa running out of diamonds
OUTPUT at RioZim's gem extraction associate Murowa Diamonds slipped to 579 000 carats during the year ended December 31, 2020 after Zimbabwe's oldest operating diamond mining asset depleted high-grade...Published: 12 Apr 2021 at 07:21hrs | 1033 | by Staff reporter
BAT rated best ZSE counter
BRITISH American Tobacco (BAT ) Zimbabwe has been rated the top counter on both the Zimbabwe Stock Exchange (ZSE)'s top 10 and 15 indexes for the second quarter of 2021.BAT's rating was announ...Published: 12 Apr 2021 at 07:08hrs | 116 | by Staff reporter
We're coming for you: Mnangagwa warns financial sector sharks
GOVERNMENT is going to decisively deal with sharks in the financial sector who are profiteering at the expense of the public, President Mnangagwa has said. In an interview ahead of the country...Published: 12 Apr 2021 at 06:56hrs | 741 | by Staff reporter
BCC counting $1 billion loss in potential revenue
BULAWAYO City Council (BCC) potentially lost over $1 billion in potential revenue since October owing to delays by government to approve its supplementary budget.The council in September 2020 ...Published: 10 Apr 2021 at 04:56hrs | 217 | by Staff reporter
NMBZ realises $705 million pre-tax profit
NMBZ Holdings realised a profit before taxation of ZWL 705 414 282 last year, in what the group's chairman, Mr Ben Chikwanha, described as a remarkable performance, despite the difficult operating env...Published: 07 Apr 2021 at 10:36hrs | 620 | by Agencies
Mwonzora finding out that his ruse fools no one
THOSE who have mastered the art of gambling know very well that when a gambler says to look carefully at the cards when shuffling, there is something that they are doing that they don't want you to ob...Published: 04 Apr 2021 at 22:39hrs | 1273 | by Staff reporter
'Zimbabwe hurtling towards stagflation'
LAST week the CEO Africa Roundtable (CEOART) gathered some of Zimbabwe's best economists and industrialists to digest economic developments during the first quarter of 2021. What came out of the summi...Published: 04 Apr 2021 at 09:44hrs | 536 | by Staff reporter
Civil servants reject 70% pay hike offer, teachers call strikes
Government workers on Wednesday rejected a staggered salary hike of 25 percent this month and 45 percent in July for a cumulative total of 70 percent.Teachers warned they would work a three-da...Published: 02 Apr 2021 at 12:15hrs | 1946 | by Staff reporter
RTG weathers COVID-19 storm
ZIMBABWE Stock Exchange (ZSE)-listed leisure chain, Rainbow Tourism Group (RTG) weathered the COVID 19-induced storm during the year ended December 31, 2020, posting an inflation-adjusted $352 million...Published: 02 Apr 2021 at 09:18hrs | 79 | by Tired Citizen
'Informal sector is 70% GPD but remitting paltry 1% in taxes' - get nothing from taxing imaginary wealth, common sense
"Shocking evidence of tax leakages hogged the limelight this week, with Finance and Economic Development minister Mthuli Ncube saying the informal sector, which makes up 70% of Zimbabwe's gross domest...Published: 01 Apr 2021 at 21:38hrs | 721 | by Patrick Guramatunhu
RBZ holds policy rate at 40%
THE Reserve Bank of Zimbabwe (RBZ) says the recently appointed monetary policy committee (MPC) agreed to maintain the bank's policy rate at 40%, as it fights to avoid a recession through a rate hike t...Published: 01 Apr 2021 at 07:25hrs | 961 | by Staff reporter
Paltry taxes cripple recovery
SHOCKING evidence of tax leakages hogged the limelight this week, with Finance and Economic Development minister Mthuli Ncube saying the informal sector, which makes up 70% of Zimbabwe's gross domesti...Published: 01 Apr 2021 at 07:24hrs | 752 | by Eddie Cross
Paltry taxes cripple recovery
SHOCKING evidence of tax leakages hogged the limelight this week, with Finance and Economic Development minister Mthuli Ncube saying the informal sector, which makes up 70% of Zimbabwe's gross domesti...Published: 01 Apr 2021 at 07:24hrs | 519 | by Eddie Cross
Private sector-led growth
Two years ago, the new Minister of Finance in Zimbabwe, Mthuli Ncube brought together a small group of local business persons in an informal advisory group.I was privileged to be included. our...Published: 01 Apr 2021 at 07:23hrs | 726 | by Eddie Cross
Could vaccinating an entire resort town revive Zimbabwe tourism?
With every passing minute, 500 million cubic metres of roaring water rush over the edge, falling into a gorge more than 100 metres below. The sound is thundering, the sight spectacular.Once ag...Published: 01 Apr 2021 at 07:01hrs | 187 | by Staff reporter
Mobile money transactions drop 23%
The total number of mobile money transactions processed in 2020 went down by 23 percent to record $1,5 billion from $1,96 billion recorded in 2019 as active mobile money subscriptions also took a dip....Published: 01 Apr 2021 at 06:58hrs | 274 | by Staff reporter
'War veterans must show their unflinching war time vibrancy' - fighting whom and for what
When Robert Mugabe got into power in 1980, he was cocksure his scientific socialism would bring economic prosperity to the masses, "Gutsva ruzhinji!" as he never tired of saying. Instead of build on t...Published: 30 Mar 2021 at 07:27hrs | 1148 | by Patrick Guramatunhu
2,4m urban households food insecure: ZimVAC
APPROXIMATELY 2,4 million Zimbabweans in urban areas are struggling to meet their basic food needs, the latest report by the Zimbabwe Vulnerability Assessment Committee (ZimVAC) has revealed.I...Published: 30 Mar 2021 at 06:55hrs | 184 | by Staff reporter
Zimdollar to remain stable
TWO years ago, the new Minister of Finance in Zimbabwe brought together a small group of local business persons in an informal advisory group. I was privileged to be included.Our meetings were...Published: 29 Mar 2021 at 18:10hrs | 583 | by Eddie Cross
AfDB pegs Zimbabwe growth at 4,2%
ZIMBABWE'S economy contracted by 10% last year and is envisaged to grow by 4,2% in 2021 if effective measures are taken to stabilise foreign exchange and avoid excessive money creation, the African De...Published: 29 Mar 2021 at 06:26hrs | 350 | by Staff reporter
Zimbabwe cost of living spikes again
THE cost of living for an average family of five shot to $26 560 this month, from $25 900 in February, following a price rage that has defied a range of measures lined up to avert a crisis, data from ...Published: 29 Mar 2021 at 06:25hrs | 2659 | by Staff reporter
Mnangagwa directs party to support NDS1
Zanu-PF First Secretary, President Mnangagwa, has directed party structures to work with Government ministries and agencies for the success of National Development Strategy 1 and attainment of Vision ...Published: 29 Mar 2021 at 06:13hrs | 288 | by Ranga Mataire
Covid-19 widens Zimbabwe's digital divide
THE outbreak of Covid-19 has widened the digital divide between Zimbabwe's urban and rural population at a time the use of data services is on the increase.According to figures obtained from t...Published: 28 Mar 2021 at 07:00hrs | 210 | by Nhimbe Trust
Tremors shake Old Mutual SA after ZSE clampdown
JOHANNESBURG Securities Exchange (JSE) listed financial services powerhouse Old Mutual Limited (OML) says crucial negotiations were underway to strike a deal with Harare following the suspension of it...Published: 28 Mar 2021 at 06:58hrs | 1064 | by Staff reporter
Gweru hires private firms to fix streetlights, water infrastructure
GWERU City Council, which has over the years been struggling to repair streetlights and replace obsolete water equipment, has invited private players to rehabilitate the infrastructure.Acting ...Published: 26 Mar 2021 at 18:26hrs | 635 | by Staff reporter
Understanding the Zimbabwe economy
I OFTEN say to visiting experts and diplomats that, if you say you understand Zimbabwe, you have not been here long enough.We are a tiny blip on the global radar but we punch well above our we...Published: 26 Mar 2021 at 05:52hrs | 985 | by Eddie Cross
Zimbabwe's monthly CPI sheds 1.19%
Consumer Price Index - March 2021 The month on month inflation rate in March 2021 was 2.26 percent shedding 1.19 percentage points on the Febniary 2021 rate of 3.45 percent. The year o...Published: 25 Mar 2021 at 10:56hrs | 611 | by Staff reporter
'Innscor revenue to rise 395%'
ADVISORY firm IH Securities has projected a 395% rise in revenue at the Zimbabwe Stock Exchange-listed conglomerate, Innscor Africa Limited, during the year to June 30 2021, underpinned by high consum...Published: 25 Mar 2021 at 05:49hrs | 233 | by Staff reporter
Telecoms revenue jumps eightfold
Total mobile network revenue for 2020 ballooned 748 percent to $26,3 billion, from $3,1 billion recorded in 2019 amidst rising operating costs. According to the Postal and Telecommunications R...Published: 25 Mar 2021 at 05:35hrs | 108 | by Staff reporter
Soldiers' wages quadrupled whilst teachers' remain stagnant' - stoking another 'military assisted transition', already long over
I shudder to think what would have become of me if I had missed one month of schooling in any one year! I was not one of the bright pupils, as all my teachers would acknowledge. I needed the teachers'...Published: 24 Mar 2021 at 20:40hrs | 3319 | by Nomusa Garikai
'Food deficit still lurks in Zimbabwe despite heavy rains'
THE Famine Early Warning System Network (Fewsnet) yesterday said Zimbabwe's anticipated above average 2021 harvest will significantly improve the country's food security, but warned that some areas pa...Published: 23 Mar 2021 at 06:15hrs | 178 | by Staff reporter
New flour plant for Bulawayo
DIVERSIFIED agro-industrial concern, National Foods is set to install a new state-of-the art US$5 million flour milling plant at the firm's factory in Bulawayo. The new plant, whose installati...Published: 23 Mar 2021 at 06:13hrs | 595 | by Staff reporter
Govt, teachers square off
ZIMBABWE'S underpaid teachers have dug in and refused to report for duty today as schools open for non-examination classes, saying they will only do so after their employer, government, has acceded to...Published: 22 Mar 2021 at 06:10hrs | 1749 | by Staff reporter
Zimbabwe's telecoms face crisis as overheads outpace revenues
ZIMBABWE'S telecommunication firms are grappling with a dicey situation, with overheads shooting at a faster pace than revenues during the fourth quarter of 2020, according to Postal and Telecommunica...Published: 21 Mar 2021 at 08:38hrs | 299 | by Staff reporter
Zimbabwe military must not subvert democratic institutions
Zimbabwe's military should not take a prominent role in any political dialogue that seeks to break the country's socio-economic impasse as lobbying for talks intensifies, a leading scholar has said....Published: 20 Mar 2021 at 20:19hrs | 647 | by Staff reporter
RBZ warns banks
The Reserve Bank of Zimbabwe (RBZ) has warned banks which offer overdrafts to companies to buy foreign currency from the auction system saying such a move creates speculation in the market and promote...Published: 18 Mar 2021 at 06:42hrs | 3002 | by Staff rpeorter
'Vaccination will guarantee achieving vision 2030' said Mnangagwa - it's idiotic 'Kurotomoka!'
"The National covid-19 Vaccination Programme will further guarantee a Zimbabwe that continues on its course to achieve Vision 2030. We are determined to emerge out of this pandemic with greater capabi...Published: 17 Mar 2021 at 08:38hrs | 1055 | by Nomusa Garikai
New teachers' union formed in Bulawayo
SCHOOL teachers in Bulawayo have launched a new union claiming the existing ones were no longer serving the educators' best interests.The new union, Educators Union of Zimbabwe (EUZ) was forme...Published: 17 Mar 2021 at 06:23hrs | 709 | by Staff reporter
Govt extends suspension of fungibility of Old Mutual and PPC shares
Finance and Economic Development Minister Professor Mthuli Ncube, has extended the suspension of financial services giant Old Mutual and cement maker PPC's fungibility by another 12 months. In...Published: 16 Mar 2021 at 06:20hrs | 349 | by Staff reporter
Local supplies fill up supermarkets
PRESIDENT Mnangagwa has said the worst of the country's economic woes is over as Zimbabwe is witnessing a revival of its manufacturing sector that is filling up supermarkets, with an economic growth p...Published: 13 Mar 2021 at 06:37hrs | 511 | by Staff reporter
Experts urge bold steps to revitalize Zim's telcos as sector battles multiple challenges
MOBILE telecom operators adjusted their promotional bundle prices this week as the sector battles multiple challenges spurred by rising input costs that industry experts fear have pushed the sector to...Published: 12 Mar 2021 at 11:32hrs | 247 | by Agencies
Nzenza warns CZI to brace for stiff competition
GOVERNEMT has warned industries to brace for stiff competition against other African manufacturers as the region removes trade barriers, following a historic trade pact that came into effect in Januar...Published: 12 Mar 2021 at 06:39hrs | 504 | by Staff reporter
July Moyo approves Chiredzi TC, RDC budgets
The local authorities of Chiredzi both the Town Council and the Rural District Council's (RDC) 2021 budgets have been approved by the Minister of Local Government, National Housing and Public Works, J...Published: 11 Mar 2021 at 14:46hrs | 386 | by Staff reporter
CZR asks Govt to tackle fuel price increases
THE Confederation of Zimbabwe Retailers (CZR) has pleaded with the Government to look into the cost-push factors behind continued fuel price increases in the economy, which have a direct impact on pri...Published: 11 Mar 2021 at 14:45hrs | 415 | by New Ziana
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