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Zupco to import spare parts for 100 grounded buses
Zimbabwe United Passengers Company (Zupco) CEO George Chigora has revealed plans to import spare parts for 100 grounded buses, as the public transporter seeks to revitalize its fleet and improve servi...Published: 19 hrs ago | 84 | by Staff reporter
Mukuru expanding into deposit-taking microfinance institution
Zimbabwe's rapidly growing remittance sector has prompted several money transfer platforms to diversify their services, with Mukuru Financial Services Zimbabwe Limited becoming the latest to be licens...Published: 19 Dec 2024 at 16:56hrs | 469 | by Staff reporter
Zinwa financial rot exposed
An external audit conducted by Grant Thornton has raised serious concerns about the financial management at the Zimbabwe National Water Authority (Zinwa), revealing significant irregularities in its r...Published: 14 Dec 2024 at 12:35hrs | 2139 | by Staff reporter
Bulawayo raises over US$21 million for Glassblock dam construction
Bulawayo City Council has successfully raised over US$21 million toward the construction of the Glassblock Bopoma Dam, a critical infrastructure project aimed at addressing the city's water crisis and...Published: 08 Dec 2024 at 10:09hrs | 2636 | by Staff reporter
Zimbabwe's cash reserves cannot cover a month
The Zimbabwe National Chamber of Commerce (ZNCC) has raised alarm over the country's dwindling foreign currency reserves, warning that the current US$540 million is insufficient to cover even a single...Published: 06 Dec 2024 at 18:10hrs | 644 | by Staff reporter
Zimbabwe inflation eases
Zimbabwe's inflation rate eased significantly in November, marking a slowdown to 11.7% from 37.2% in October, according to the Reserve Bank of Zimbabwe (RBZ). The decline was attributed to the central...Published: 05 Dec 2024 at 11:08hrs | 489 | by Staff reporter
RBZ keeps rates steady
Reserve Bank of Zimbabwe (RBZ) Governor John Mushayavanhu has announced that the bank policy rate will remain at 35%, and statutory reserve requirements will stay unchanged, as the central bank seeks ...Published: 05 Dec 2024 at 06:55hrs | 444 | by Staff reporter
Zimbabwe's central bank claims success in stabilising rate and inflation
The Reserve Bank of Zimbabwe (RBZ) has announced significant progress in stabilising the country's exchange rate and inflation following a series of monetary policy interventions, including a cumulati...Published: 04 Dec 2024 at 14:23hrs | 291 | by Staff reporter
Zimbabwe forex receipts jumps 17.9% to $10 billion in 2024
Zimbabwe recorded a remarkable 17.9% increase in foreign currency receipts in the first nine months of 2024, reaching US$10 billion compared to US$8.5 billion during the same period in 2023. This grow...Published: 02 Dec 2024 at 07:17hrs | 89 | by Staff reporter
SA-based Diaspora Kapita to issue US$10m bond in Zimbabwe
South Africa-based investment holding firm Diaspora Kapita (DK) is set to make waves in the Zimbabwean financial landscape as it prepares to list on the Victoria Falls Stock Exchange (VFEX) and raise ...Published: 02 Dec 2024 at 07:16hrs | 192 | by Staff reporter
RBZ assures bonus payments will not disrupt economic stability
Reserve Bank of Zimbabwe (RBZ) Governor Dr. John Mushayavanhu has assured that the payment of civil servant bonuses ahead of the festive season will not affect price stability or the exchange rate....Published: 01 Dec 2024 at 08:50hrs | 96 | by Staff reporter
2025 Budget: A shallow, hollow, narcissistic and dishonest anti-people ritual
THE 2024 budget statement was presented in backdrop of a tough and challenging year for the working people of Zimbabwe. A year in which the citizen had been abused by extreme levels of inflation, emas...Published: 29 Nov 2024 at 18:47hrs | 731 | by Tendai Biti
Zimbabweans abroad sent home US$1,9 billion in 9 months
Zimbabweans living abroad sent a record-breaking US$1.9 billion back home in the first nine months of 2024, marking a significant 16.5% increase from the US$1.6 billion remitted in the same period las...Published: 29 Nov 2024 at 07:17hrs | 365 | by Staff reporter
Zimbabwe teachers demand payment of November salaries
The government is facing growing backlash from teachers across Zimbabwe after it failed to pay them their November salaries and 13th cheque (bonus) without providing any explanation.In a state...Published: 27 Nov 2024 at 07:03hrs | 701 | by Staff reporter
Zimbabwe finance ministry bans foreign trips
The Zimbabwean government is tightening its belt in response to a severe cash crunch as it approaches the end of 2024. Finance Secretary George Guvamatanga has announced measures aimed at curbing spen...Published: 18 Nov 2024 at 15:24hrs | 5543 | by Staff reporter
BCC starts feasibility study for Matopos, Umganin aquifers
The Bulawayo City Council (BCC) has initiated a feasibility study aimed at identifying potential aquifers in the Matopos and Umganin areas, marking a significant step toward addressing the city's ongo...Published: 10 Nov 2024 at 10:54hrs | 129 | by Staff reporter
Zimbabwe foreign currency reserves rise to US$500m
Zimbabwe's foreign currency reserves backing its local currency, the Zimbabwe Gold (ZiG), have surged past US$500 million, tripling the total amount of ZiG in circulation. This development is expected...Published: 10 Nov 2024 at 10:41hrs | 170 | by Staff reporter
Zimbabwe diplomats to sign performance contracts
PRESIDENT Mnangagwa has rallied Zimbabwe's diplomats worldwide to attract investments, boost tourism, and enhance trade opportunities.To this end, all the country's diplomats will in fut...Published: 07 Nov 2024 at 07:02hrs | 191 | by Staff reporter
Weak currency key to economic growth, says Mthuli Ncube
Finance, Economic Development and Investment Promotion Minister Mthuli Ncube has defended Zimbabwe's weak domestic currency, asserting that it has played a crucial role in fostering economic growth. S...Published: 31 Oct 2024 at 06:52hrs | 647 | by Staff reporter
Zimbabwean industry urged to brace for AfCFTA competition
Zimbabwe's local industry must be ready for competition from across the continent as the African Continental Free Trade Area (AfCFTA) comes into force, Industry and Commerce Minister Mangaliso Ndlovu ...Published: 29 Oct 2024 at 07:22hrs | 126 | by Staff reporter
Zimbabwe attracts US$1.2 billion in investments in Q3 of 2024
Zimbabwe attracted investments worth US$1.2 billion during the third quarter of 2024, with 168 new licences issued to investors by the Zimbabwe Investment and Development Agency (ZIDA), according to a...Published: 23 Oct 2024 at 07:45hrs | 121 | by Staff reporter
High passport fees may hinder Zimbabwe's remittance flows
The Zimbabwe Banks and Allied Workers Union (Zibawu) has raised concerns that the country's high passport fees could significantly impede remittance flows by restricting citizens' migration opportunit...Published: 18 Oct 2024 at 12:30hrs | 3919 | by Staff reporter
Zimbabwe reviews national diaspora policy
The Government of Zimbabwe has launched a comprehensive review of its National Diaspora Policy, aimed at fostering stakeholder engagement and ensuring inclusive participation in national initiatives. ...Published: 17 Oct 2024 at 08:56hrs | 135 | by Staff reporter
Bulawayo water crisis deepens
Bulawayo residents are grappling with a severe water crisis as the Bulawayo City Council (BCC) announced the extension of the water-shedding schedule from 120 hours to 130 hours per week, effective to...Published: 09 Oct 2024 at 07:42hrs | 179 | by Staff reporter
Mnangagwa frets over resurgent black market
In his State of the Nation Address (SONA) delivered during the official opening of the second session of the 10th Parliament in Mt Hampden, President Emmerson Mnangagwa expressed deep concern over the...Published: 03 Oct 2024 at 08:58hrs | 613 | by Staff reporter
Mnangagwa warns forex dealers
In a bold move to stabilize the beleaguered Zimbabwe Gold (ZWG) currency, President Emmerson Mnangagwa announced on Wednesday that 50% of mining royalties will be allocated to bolster the currency's r...Published: 03 Oct 2024 at 08:58hrs | 1081 | by Staff reporter
Zimbabwe govt working on currency stability
In a comprehensive State of the Nation Address delivered yesterday at the new Parliament Building in Mt Hampden, President Emmerson Mnangagwa highlighted the government's ongoing efforts to stabilize ...Published: 03 Oct 2024 at 08:47hrs | 169 | by Staff reporter
Bulawayo water crisis deepens
The Bulawayo City Council (BCC), which decommissioned Umzingwane Dam last November, is now facing an even graver water crisis as the city prepares to decommission another supply dam, Upper Ncema, toda...Published: 03 Oct 2024 at 08:47hrs | 170 | by Staff reporter
Zambezi River Authority increases 2025 water allocation
The Zambezi River Authority (ZRA) has announced an increase in water allocation for power generation in 2025 to 27 billion cubic meters (BCM), a significant rise from the 16 BCM allocated at the begin...Published: 27 Sep 2024 at 15:42hrs | 509 | by Staff reporter
RBZ raises bank policy rate to 35%
The Reserve Bank of Zimbabwe (RBZ) has announced significant measures to tackle resurgent exchange rate volatility and mitigate inflationary pressures. Effective immediately, the bank policy rate has ...Published: 27 Sep 2024 at 15:29hrs | 1316 | by Staff reporter
Parliament face to face with Bulawayo water woes
Bulawayo's escalating water shortages took center stage yesterday as parliamentarians engaged directly with the dire situation affecting the city. With the water supply dam levels in continuous declin...Published: 25 Sep 2024 at 11:34hrs | 770 | by Staff reporter
Ntabazinduna poised to become a smart city
The Umguza Rural District Council (RDC) is transforming the Ntabazinduna area into a smart city, with the industrial corridor along the Ntabazinduna Road turn-off from the Bulawayo-Harare Road already...Published: 19 Sep 2024 at 07:30hrs | 1090 | by Staff reporter
Chiwenga says Zimbabwe's monetary policy is in line with SADC integration
Zimbabwe's advancements in the gold sector, including the adoption of a floating exchange rate framework, align closely with the Southern African Development Community's (SADC) goal of achieving regio...Published: 14 Sep 2024 at 16:13hrs | 905 | by Staff reporter
Chiwenga backs ZiG
Zimbabwe's monetary policy framework, coupled with the introduction of a stable currency, the Zimbabwe Gold (ZiG), has fostered transactional simplicity, certainty and predictability in the country's ...Published: 13 Sep 2024 at 13:10hrs | 2085 | by Staff reporter
Shops dump ZiG official rate for two-tier pricing system
Just like other Zimbabwean currencies introduced since the year 2000, the Zimbabwe Gold (ZiG) currency is already showing signs of instability barely half a year after its introduction, with many shop...Published: 08 Sep 2024 at 13:51hrs | 9582 | by Staff reporter
Kariba Dam levels worsen
The Zambezi River Authority (ZRA) has reported that severe rainfall shortages and the El Niño-induced drought of the 2023/24 season continue to impact water levels in Lake Kariba.As of this y...Published: 28 Aug 2024 at 10:19hrs | 483 | by Staff reporter
Zimbabwe foreign currency remittances hit US$1,2 billion
FOREIGN currency remittances surged by 16,5% to hit a record US$1,2 billion in the first half of 2024 leaving diasporans standing out as lucrative foreign currency earners for the economy.The ...Published: 26 Jul 2024 at 06:39hrs | 515 | by Staff reporter
ZiG acceptance grows across Zimbabwe economy
The Reserve Bank of Zimbabwe (RBZ) has observed a growing acceptance of the local currency, ZiG, by both businesses and individuals, which aligns with the central bank's efforts to stabilize the econo...Published: 24 Jul 2024 at 08:54hrs | 2080 | by Staff reporter
Tackling Zimbabwe's property price surge
The Zimbabwean property market is facing significant challenges, marked by skyrocketing property prices that seem incongruous when compared to those in neighbouring South Africa.These challeng...Published: 24 Jun 2024 at 10:13hrs | 81 | by Dr Bekithemba Mpofu
Zimbabwe has lost over 800MW at Kariba
Energy and Power Development minister Edgar Moyo addressed Parliament regarding the current power supply crisis in Zimbabwe, attributing it to hydrological challenges at the Kariba South Hydroelectric...Published: 24 Jun 2024 at 07:06hrs | 13 | by Staff reporter
Bulawayo facing a severe water crisis
Bulawayo is facing a severe water crisis, with its supply dams at just over 33% capacity. The city council has already decommissioned Umzingwane Dam and warns that Upper and Lower Ncema dams will also...Published: 16 Jun 2024 at 09:09hrs | | by Staff reporter
Bulawayo tightens water rationing
THE Bulawayo City Council has further tightened its water rationing regime and introduced punitive fines for those exceeding daily expected limits.The stringent measures contained in the lates...Published: 09 Jun 2024 at 09:09hrs | 15 | by Staff reporter
Remittances and FDI: Harmonizing Zimbabwe's economic strategies for sustainable growth
Zimbabwe's economy stands at a critical juncture, grappling with deep-seated challenges such as systemic unemployment, volatile currency fluctuations, and an uncertain business climate. Within this pr...Published: 18 May 2024 at 15:27hrs | 15 | by Dr Bekithemba Mpofu
Mnangagwa says Zimbabweans must not be shy to make money
Zimbabweans should not hesitate to make money, as the government has created a conducive environment for economic success, President Emmerson Mnangagwa stated.Speaking at the commissioning of ...Published: 18 May 2024 at 10:59hrs | 17 | by Staff reporter
Repowering of Hwange Units 1-6 to boost power generation
THE Government is stepping up the repowering of Hwange Units One to Six as part of efforts to find a lasting solution to the electricity problem in the country and is working on funding modalities as ...Published: 07 Apr 2024 at 10:06hrs | | by Staff reporter
Strategic Analysis of Zimbabwe's Monetary Policy and Its Implications on the Real Estate Sector
Introduction The Reserve Bank of Zimbabwe unveiled a new monetary policy aimed at stabilizing the country's currency and economy. The policy focuses on ...Published: 07 Apr 2024 at 09:17hrs | 9 | by Dr Bekithemba Mpofu
Bulawayo to decommission 2 more dams as Gwayi-Shangani stalls
BULAWAYO City Council (BCC) has warned that Upper Ncema and Lower Ncema will likely be decommissioned in about six months, a development set to further worsen the city's already dire water situation....Published: 20 Mar 2024 at 06:33hrs | 2 | by Staff reporter
Bulawayo's 120-hour water shedding to continue
BULAWAYO residents will continue receiving water for only two days per week, as water levels continue to dwindle at major supply dams due to drought, with the possibility of further tightening of the ...Published: 13 Mar 2024 at 05:07hrs | 2 | by Staff reporter
Southern Africa just had its driest February on record
A swathe of Southern Africa suffered the driest February in decades that wiped out crops, precipitated power shortages and threatened to send already high food prices surging further.Last mont...Published: 11 Mar 2024 at 17:10hrs | 3 | by Staff reporter
Zimbabwe re-introduces brutal load-shedding timetable
The Zimbabwe Electricity Supply Authority (ZESA) has re-introduced brutal load-shedding schedules after it was forced to cut its power generation at the key Kariba plant.This is expected to se...Published: 08 Mar 2024 at 14:30hrs | 463 | by Staff reporter
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