Search / Inflation
Mthuli Ncube banks on new currency measures
Finance minister Mthuli Ncube on Monday announced new measures to encourage the use of the Zimbabwe dollar as opposed to the U.S. dollar, in a bid to boost the local unit and tame rising consumer infl...Published: 15 mins ago | 34 | by Staff reporter
Mthuli Ncube announces further measures to contain runaway inflation
FINANCE Minister Mthuli Ncube has announced a new series of measures to stabilise the economy amid hyperinflation fears.This comes barely two weeks after the Treasury boss scrapped duty on all...Published: 9 hrs ago | 922 | by Staff reporter
'Mthuli Ncube's shop raids a publicity stunt'
ECONOMISTS have described Finance minister Mthuli Ncube's weekend raids on retail shops to check on pricing of basic commodities as a publicity stunt after failing to tame the country's runaway inflat...Published: 9 hrs ago | 349 | by Staff reporter
Mthuli's theatrics expose government lack of seriousness in addressing Zim economic crisis!
So, finance minister Mthuli Ncube, over the weekend, went around shops in Bulawayo, like a crazed vigilante, tearing down tags displaying prices strictly in US dollars!He even berated a haples...Published: 16 hrs ago | 478 | by Tendai Ruben Mbofana
Jonathan Moyo issues a warning
EXILED former cabinet minister, Jonathan Moyo has warned that the recent threats by Finance minister Mthuli Ncube to crack down on businesses over price hikes will only worsen the already dire situati...Published: 29 May 2023 at 06:41hrs | 6117 | by Staff reporter
Redollarise, labour tells Zimbabwe govt
CALLS for the government to redollarise Zimbabwe's economy are growing louder, with labour unions saying it would arrest inflation which has wiped out salaries.Zimbabwe's month-on-month inflat...Published: 29 May 2023 at 06:35hrs | 630 | by Staff reporter
At what stage does a President concede failure?
IF I were the President of Zimbabwe - what would I be expected to do under the prevailing economic circumstances?The country goes for an average 20 hours each day without electricity, and most...Published: 29 May 2023 at 06:34hrs | 246 | by Tendai Ruben Mbofana
Zimdollar not going anywhere
THE Treasury has assured the market of continued usage of the local currency and that deliberate steps are being taken to strengthen its value so as to restore consumer purchasing power and buttress t...Published: 29 May 2023 at 06:32hrs | 360 | by Staff reporter
Zimbabwe inflation spikes in May
Zimbabwe's month-on-month inflation spiked to 15,7% this month after gaining 13,3 percentage points on the April 2023 rate of 2,4%, the national statistics agency said yesterday.On an annualis...Published: 28 May 2023 at 19:05hrs | 553 | by Staff reporter
Massive price hikes throw the Zimbabwe economy into turmoil
THE Zimbabwean government is having sleepless nights over price hikes, which have continued unabated, plunging low-income earners into immense poverty, a snap survey by The NewsHawks.Commodity...Published: 28 May 2023 at 17:54hrs | 760 | by Staff reporter
A critical review of Al Jazeera's Gold Mafia documentary
APRIL, famously characterised as "the cruellest month" by distinguished poet and literary critic TS Eliot in his critically acclaimed essay "The Wasteland" - not because its first day celebrates fools...Published: 28 May 2023 at 17:07hrs | 630 | by Jonathan Moyo
At what stage does a president concede he has failed?
If I were the president of Zimbabwe - what would I be expected to do under these circumstances?The country goes for an average 20 hours each and every day without electricity, and most urban a...Published: 28 May 2023 at 16:02hrs | 235 | by Tendai Ruben Mbofana
Zimbabwe joins poverty league
Zimbabwe, which was the most industrialised nation in sub-Saharan Africa outside South Africa in 1980 - is now among the top 20 poorest countries in the world - ranking 17, according to an unknown Glo...Published: 28 May 2023 at 08:27hrs | 3177 | by Staff reporter
Jonathan Moyo says economic saboteurs should not contest elections
Political commentator and Former Cabinet Minister, Professor Jonathan Moyo has said that economic saboteurs should not be allowed to contest in local elections.Writing on his Twitter handle ye...Published: 28 May 2023 at 08:23hrs | 380 | by Staff reporter
Mnangagwa govt fails to rig price hikes
The Reserve Bank of Zimbabwe (RBZ) has frozen bank accounts of four major distributors of basic commodities as President Emmerson Mnangagwa's government scrambles to find solutions to soaring prices a...Published: 28 May 2023 at 08:09hrs | 156 | by Staff reporter
4 rogue firms' accounts frozen
BANK accounts belonging to four major basic commodity distributors have been frozen for suspected economic sabotage, while unscrupulous manufacturers and pharmaceutical companies also face the same co...Published: 28 May 2023 at 07:59hrs | 83 | by Staff reporter
Mnangagwa to secure another 5-year term, says US's Fitch Ratings
PRESIDENT Emmerson Mnangagwa will likely secure another five-year term in elections expected in August, Fitch Solutions, a global advisory, predicted in a new report, but warned of a chaotic aftermath...Published: 26 May 2023 at 16:31hrs | 2177 | by Staff reporter
On inflation Mthuli Ncube must listen to Chinamasa and Gono, 'in the know' advised Moyo. A very sick joke.
Professor Jonathan Moyo would be fountain of wisdom if only his contributions are not more often than not laced with propaganda, lies and damned lies whose sole purpose is to poison the mind. ...Published: 26 May 2023 at 10:22hrs | 716 | by Wilbert Mukori
Zimbabwe nurses put govt on notice
NURSES have put government on notice to improve their salaries and conditions of service or face mass action, saying their earnings were no longer viable.The nurses accused their employer of p...Published: 26 May 2023 at 06:36hrs | 644 | by Staff reporter
The tragedy of Zimbabwe
Main opposition Citizens Coalition for Change (CCC) spokesperson Fadzayi Mahere last week spoke at the Geneva Summit for Human Rights and Democracy - a major United Nations conference that shines a sp...Published: 26 May 2023 at 06:34hrs | 379 | by Fadzayi Mahere
Jonathan Moyo tackles Mthuli Ncube
EXILED former cabinet minister, Jonathan Moyo has taken a swipe at Finance minister, Mthuli Ncube for turning a blind eye to the deteriorating economic situation as the local currency continues to exp...Published: 25 May 2023 at 06:28hrs | 2882 | by Staff reporter
Power outages dent RioZim production
GOLD production at Cam & Motor Mine — one of RioZim Limited's flagship operations — increased 92% in the first quarter of this year on the back of the Biological Oxidation (BIOX) plant that ca...Published: 25 May 2023 at 06:27hrs | 229 | by Staff reporter
Zimbabwe ranked as world's most miserable country
ZIMBABWE has been adjudged the most miserable country in the world on American economist Steve Hanke's 2022 Misery Index because of the high cost of living.Hanke, a professor of Applied Econom...Published: 25 May 2023 at 06:25hrs | 405 | by Staff reporter
Zimdollar in record crash
THE Zimbabwe dollar tumbled by nearly 26% on the official market on Tuesday, the biggest collapse in one day since the auction system was introduced three years ago, while a government inquiry accused...Published: 25 May 2023 at 06:24hrs | 712 | by Staff reporter
Zimbabwe's Africa Day: Celebrating a Continent We Have Failed
Every year on May 25, African countries commemorate Africa Day, a day that celebrates the unity and pride of Africa. African countries come together to remember the fight and struggles of their forefa...Published: 24 May 2023 at 21:02hrs | 191 | by Kumbirai Thierry Nhamo
Africa Day: Zimbabwe has achieved nothing
Zimbabwe has achieved nothing. That phrase may sting, but it is the heart-wrenching truth. As Africa Day approaches, there is no better time to reflect on the state of Zimbabwe and the current state o...Published: 24 May 2023 at 20:59hrs | 231 | by Kumbirai Thierry Nhamo
Zimpapers staff down tools
Journalists and other staffers under Zimpapers' Bulawayo based divisions, Chronicle and Sunday News have downed tools after management announced cutting of allowances and further curtailment of other ...Published: 24 May 2023 at 17:13hrs | 524 | by Staff reporter
Zimbabwe has no leader - plain and simple!
Can anyone surely wake up in the morning, take a bath, don his suit, put on his scarf, and look himself in the mirror with a satisfied smile, calling himself a leader - when the country he leads goes ...Published: 24 May 2023 at 09:41hrs | 1662 | by Tendai Ruben Mbofana
Bitcoin's role in the rise of Decentralized Finance (DeFi)
Decentralized Finance (DeFi) has taken the world by storm in recent years, with more and more investors turning to blockchain-based financial systems to take advantage of the numerous benefits they pr...Published: 24 May 2023 at 09:38hrs | 230 | by Staff Reporter
Jonathan Moyo takes a dig at Chamisa
EXILED former Cabinet Minister Jonathan Moyo has dismissed any chance of Citizens Coalition for Change (CCC) President Nelson Chamisa unseating Zanu-PF's Emmerson Mnangagwa and declared Zimbabwe's wan...Published: 23 May 2023 at 06:48hrs | 4954 | by Staff reporter
Biti challenges Mthuli Ncube to explain SI 127, blended inflation
HARARE East legislator Tendai Biti (CCC) has challenged Finance minister Mthuli Ncube to explain before Parliament how Statutory Instrument 127 and blended inflation work.SI 127 of 2021 amends...Published: 23 May 2023 at 06:42hrs | 649 | by Staff reporter
To see the saboteur, Mr President, look in the mirror
NewsdayHAVE we seriously gone back to blaming ghosts and shadows for the economy bottoming out?Are we going to be turning every stone, nook, and cranny looking for perceived "saboteurs...Published: 23 May 2023 at 06:40hrs | 1206 | by Staff reporter
Mnangagwa in panic mode
PRESIDENT Emmerson Mnangagwa has pressed the panic button over galloping prices of basic commodity as he accused retailers of plotting his defeat ahead of the August elections. Retailers last ...Published: 22 May 2023 at 06:40hrs | 5123 | by Staff reporter
Tendai Biti says Zimbabwe is being run by kleptomaniac Govt
CITIZENS Coalition for Change (CCC) deputy leader Tendai Biti says Zimbabwe is being run by a kleptomaniac government and there is a desperate need for change ahead of the upcoming general elections....Published: 21 May 2023 at 08:16hrs | 1297 | by Staff reporter
Mthuli Ncube weaponising foreign trade to fight local firms
ZIMBABWE'S rulers think that it is within their rights to destroy their economy and turn to neighbours for stop gap solutions.This weird belief was passed from the late strongman, Robert Mugab...Published: 20 May 2023 at 19:58hrs | 348 | by Staff reporter
Anti-Zimbabwe economist names Zimbabwe 'Most Miserable Country' in the world
ZIMBABWE has been named the most miserable country in the world ahead of war-torn Ukraine, Syria and Sudan on renowned economist Steve Hanke's Annual Misery Index (HAMI).Hanke blamed Zimbabwe'...Published: 20 May 2023 at 19:15hrs | 166 | by Staff reporter
Chamisa's MPs wants Zimbabwe to dump the Zimdollar
GOVERNMENT has defied opposition calls to abandon the local currency despite its spectacular free-fall and price spikes that have seen businesses abandoning it.In Parliament on Wednesday, oppo...Published: 19 May 2023 at 20:45hrs | 564 | by Staff reporter
Zimbabwe government defies calls to abandon Zimdollar as it continues to lose value
Inflation in Zimbabwe is currently at 75%, and is expected to rise even higher in the coming months. This is due in part to the government's decision to print more money in an attempt to finance its b...Published: 19 May 2023 at 08:41hrs | 1799 | by Staff Reporter
Mnangagwa is much worse than Mugabe, Mahere tells UN summit
"Half the population lives under extreme poverty, US$2.2 billion is lost to corruption annually and we have the highest hyperinflation rate in the world – all because those in power would rather loo...Published: 18 May 2023 at 05:41hrs | 3578 | by Staff reporter
Zec fails to pay for hired vehicles
OWNERS of several vehicles hired by the Zimbabwe Electoral Commission (Zec) for the last biometric voter registration blitz held in March are yet to receive their dues almost two months after the prog...Published: 17 May 2023 at 21:23hrs | 370 | by Staff reporter
ZCTU pours scorn on Mthuli Ncube's firefighting stunts
The Zimbabwe Congress of Trade Unions (ZCTU) has dismissed as futile, Finance Minister Mthuli Ncube's attempts to tame a recent price surge that has eroded incomes and brought restlessness within the ...Published: 16 May 2023 at 20:41hrs | 1206 | by Staff reporter
African Devt Bank proposes ‘fast track' compensation for Zimbabwe white ex-farmers
The African Development Bank (AFDB) has developed financial instruments to "fast track and front load" $3.5 billion in compensation to white farmers whose land was taken from them by Zimbabwe's govern...Published: 15 May 2023 at 19:05hrs | 117 | by Staff reporter
Auditors condemn Edgars financial results
DELOITTE and Touche Zimbabwe auditors have condemned Edgars Stores Limited financial results for the year ended January 8, 2023, saying they failed to comply with International Financial Reporting Sta...Published: 14 May 2023 at 11:37hrs | 659 | by Staff reporter
Zimbabwe backs new digital money with 140kg of gold
Zimbabwe has turned to digital money to help ease soaring demand for US dollars in its economy as the value of the local currency plunged.Zimbabwe used nearly 140 kilograms of gold reserves to...Published: 13 May 2023 at 18:54hrs | 282 | by Staff reporter
Mnangagwa's administration panicking
FORMER Finance minister and opposition legislator, Tendai Biti, says government's latest interventions to save the free-falling local currency expose panic in President Emmerson Mnangagwa's administra...Published: 13 May 2023 at 18:27hrs | 615 | by Staff reporter
$14 billion gold digital tokens bought so far in Zimbabwe
The Reserve Bank of Zimbabwe (RBZ) has said a total 139 570 982 milligrammes (139,57kg) of gold-backed digital tokens valued at $14 077 billion were bought during the initial sale, which opened on Mon...Published: 13 May 2023 at 18:25hrs | 100 | by Staff reporter
Are investors in African equities poised for wins amidst global turmoil?
It has been a tumultuous first quarter of 2023, and African equities have not been spared.Global markets started the year on a very positive note, with the S&P 500 up 9.0% at its peak in e...Published: 12 May 2023 at 11:17hrs | 304 | by Rami Hajjar, portfolio manager of the Allan Gray Africa ex-SA Equity Fund
Zimbabwean 'mbingas' flashy lifestyles reflect a corrupt economy
So, another so-called mbinga (wealthy person) in Zimbabwe has been active once again, on social media flaunting his latest acquisitions.This time around, he bought himself the latest Maybach B...Published: 12 May 2023 at 06:22hrs | 1015 | by Tendai Mbofana
Mthuli Ncube scrambles to rescue Zimdollar
FINANCE minister Mthuli Ncube has removed duty on all basic commodities to combat the rampant price increases in a slew of desperate measures to save the collapsing Zimbabwe dollar.Over the pa...Published: 12 May 2023 at 06:06hrs | 1009 | by Staff reporter
Zimbabwe govt lifts import restrictions on basics
GOVERNMENT has lifted all restrictions on the importation of basic commodities to boost market supplies and granted 100 percent retention of domestic foreign currency earnings, with a further fine-tun...Published: 12 May 2023 at 06:00hrs | 384 | by Staff reporter
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