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Zimstats boss 'claimed $4,000 school fees for a fictitious child'
Taguma Mahonde, the Director General of the Zimbabwe National Statistics Agency (ZimStats), made a court appearance on Thursday, facing allegations of fraud for purportedly claiming a $4,000 school fe...Published: 28 Sep 2023 at 17:03hrs | 942 | by Staff reporter
Zimdollar future hangs in the balance
IT is imperative for every successful and expanding economy in the world to have its own currency and monetary policy. I make that statement because it is important for all Zimbabweans to understand t...Published: 12 Sep 2023 at 06:33hrs | 1074 | by Eddie Cross
Zimdollar remains volatile
LOCAL financial service firm Fincent Securities Private Limited (Fincent) says the Zimbabwe dollar has lost significant value since the announcement of the disputed election results.From the e...Published: 10 Sep 2023 at 09:00hrs | 543 | by Staff reporter
Why properties in Zimbabwe are overpriced
YOU probably have heard that properties in Zimbabwe are expensive, especially compared to regional peers like South Africa and Kenya.To substantiate this claim, a quick online survey on proper...Published: 09 Sep 2023 at 08:50hrs | 869 | by Rufaro Hozheri
'Arrested ERC, ZESN observers ordered to lie on stomachs for three hours'
A Harare magistrate's court was Friday told of how 39 election observers seized Wednesday night by AK assault rifle wielding police officers were made to surrender their phones and passwords and furth...Published: 25 Aug 2023 at 19:59hrs | 539 | by Staff reporter
Mnangagwa's govt okays US$ university fees
UNIVERSITIES have been given the go ahead to peg their fees in United States dollars while allowing use of local currency convertible at interbank rate at the time of payment with Government reaffirmi...Published: 20 Aug 2023 at 09:27hrs | 11 | by Staff reporter
Vehicle owners demand US$ from Zec
OWNERS of vehicles hired by the Zimbabwe Electoral Commission (Zec) for various election-related tasks have lamented receiving payment in local currency at the interbank rate instead of United States ...Published: 14 Aug 2023 at 06:35hrs | 19 | by Staff reporter
Gold tokens to become medium of exchange in Zimbabwe
THE Reserve Bank of Zimbabwe (RBZ) is finalising the modalities of rolling out the gold-backed digital tokens as a medium of exchange for domestic transactions to complement the US dollars, Governor D...Published: 10 Aug 2023 at 06:43hrs | 4 | by Staff reporter
Mnangagwa to abandon RBZ's forex auction system?
President Emmerson Mnangagwa has hinted the Dutch forex auction floor system, which is under the control of the Reserve Bank of Zimbabwe, could be scrapped since it has served its purpose.The ...Published: 29 Jul 2023 at 12:46hrs | 5 | by Staff reporter
Zimbabwe experienced a significant increase in macroeconomic fluctuations in June 2023
Zimbabwe Coalition on Debt and Development has said Zimbabwe experienced a significant increase in macroeconomic fluctuations in June 2023, with the local currency losing over 55% of its value in both...Published: 25 Jul 2023 at 12:42hrs | 3 | by Stephen Jakes
Zimdollar recovery diminishes telecommunications services providers' tariff hikes prospects
THE steady recovery of the ZW$ in recent weeks almost diminishes recent calls by mobile telecommunications services providers, making it difficult to ascertain where exactly to place the peg.T...Published: 20 Jul 2023 at 06:49hrs | | by Staff reporter
Zimbabwe civil servants smile all the way to the bank
Civil servants smiled all the way to the bank yesterday as they started receiving along with the normal salary and allowances, a newly increased forex component of US$50 plus an additional local curre...Published: 19 Jul 2023 at 06:38hrs | 2 | by Staff reporter
Zimbabwe's civil servants get backdated US$ pay rise
GOVERNMENT has effected a US$50 increase in civil servants salaries, while the local currency portion will be pegged at the equivalent of US$150 at the prevailing interbank rate.The increase w...Published: 16 Jul 2023 at 09:12hrs | 13 | by Staff reporter
Govt descends on price manipulators
THE Consumer Protection Commission (CPC) will soon impose heavy fines on retailers that have not reduced prices of their goods in line with movements of the exchange rate on the interbank market....Published: 09 Jul 2023 at 10:30hrs | 5 | by Staff reporter
Zimdollar demand soars
DEMAND for the Zimbabwean dollar continues to soar as more businesses and individuals seek to transact using the local currency, which has regained its lost value for the third consecutive time at the...Published: 05 Jul 2023 at 07:15hrs | 2 | by Staff reporter
Government says NO to payment of bills in forex
THE directive late last week by the Government that all local councils must continue charging in local currency as opposed to United States dollars as had just been announced by the Harare City Counci...Published: 03 Jul 2023 at 07:08hrs | 2 | by Staff rporter
Why Mnangagwa blocked Mthuli Ncube's export tax
PRESIDENT Emmerson Mnangagwa recently blocked Finance minister Mthuli Ncube's 10% tax on mining exports to pay arrears on the country's debt overhang - which makes it difficult for the government to b...Published: 02 Jul 2023 at 17:27hrs | 1 | by Staff reporter
Zimbabwean teachers bemoan US$13 slave wage
TEACHERS say they can no longer report for work consistently, amid revelations their basic salary has been eroded by inflation to US$13, with the government failing to solve the plight of public secto...Published: 01 Jul 2023 at 07:49hrs | | by Staff reporter
Zimdollar collapse a harbinger of worse things to come
THE Zimdollar this week recorded its biggest single day drop off since its reintroduction in June 2019 of 26% to $1 888,01, against the United States dollar on the official market.On the paral...Published: 29 Jun 2023 at 06:30hrs | 2 | by Staff reporter
Zimbabwe official bank rate latest
THE Zimbabwe Dollar slightly weakened against the United States dollar at the weekly forex auction system where it traded at Z$ 6 9296 to the greenback from US$1:ZW$5 978 last week.In an updat...Published: 20 Jun 2023 at 18:31hrs | | by Staff reporter
Zimbabwe consumers in a fix
As Zimbabweans continue to battle with a failing economy, increases in prices of basic commodities has pushed many into abject poverty.A recent survey conducted by Standardbusiness indic...Published: 18 Jun 2023 at 08:40hrs | | by Staff reporter
RBZ finalises platform for digital token payments
THE Reserve Bank of Zimbabwe (RBZ) is finalising the establishment of a platform that facilitates person-to-person transactions using digital gold tokens, a development expected to largely reduce dema...Published: 18 Jun 2023 at 08:30hrs | 4 | by Staff reporter
Joice Mujuru's farm property saved from sale by the sheriff of the High Court
Former state Vice President Joice Mujuru's farm property has been saved from sale by the sheriff of the High Court.The sale of various farming implements was supposed to take place on Friday J...Published: 17 Jun 2023 at 19:43hrs | 1 | by Staff reporter
Mnangagwa's govt told to introduce higher denomination banknotes
GOVERNMENT has been urged to issue banknotes with higher denominations to make it easier for people to transact.Currently, the $100 note is the highest banknote in the country, but it has been...Published: 16 Jun 2023 at 07:58hrs | 2 | by Staff reporter
Zimdollar on the verge of complete rejection
THE Zimbabwe dollar, which was reintroduced by the Reserve Bank of Zimbabwe (RBZ) in 2019, is on the verge of collapse and complete market rejection.The local unit is incessantly plummeting ag...Published: 16 Jun 2023 at 07:54hrs | 2 | by Zimbabwe Coalition on Debt and Development
Parliament turns heat on Mthuli Ncube
LEGISLATORS have taken Finance and Economic Development minister Mthuli Ncube to task over the galloping inflation and the crumbling local currency, which they say has eroded salaries of government wo...Published: 15 Jun 2023 at 06:51hrs | 3 | by Staff reporter
Zimbabwe imposes new charge on foreign payments
All outward payments from Zimbabwe to any foreign country for the next six months will attract a one percent charge up to a maximum of US$50 000 as part of measures gazetted by President Mnangagwa yes...Published: 15 Jun 2023 at 06:48hrs | | by Staff reporter
Convergence of official and unofficial exchange rates possible, says IMF
THE International Monetary Fund has urged Zimbabwe to take further steps on currency reform after the southern African nation stopped short of free-floating its local dollar. The credibility a...Published: 14 Jun 2023 at 06:32hrs | | by Staff reporter
Zimdollar rescue mission too late
THE surprise move by Zimbabwe's fiscal and monetary authorities to liberalise the foreign exchange policy after months of shillyshallying amid a fixed rate could be a case of closing the stable door a...Published: 12 Jun 2023 at 06:45hrs | 3 | by Staff reporter
BCC dangles discounts to compliant residents
BULAWAYO City Council (BCC) is dangling discounts to residents who religiously pay their bills as the local authority cranks up efforts to maximise revenue collection.Council's finance committ...Published: 12 Jun 2023 at 06:28hrs | | by Staff reporter
Protests loom over Zimdollar implosion
Workers unions are agitating for a nationwide strike over the continued economic implosion that has been characterised by the spectacular collapse of the Zimbabwe dollar.The country is facing ...Published: 11 Jun 2023 at 21:34hrs | 3 | by Staff reporter
ZITF seeks refuge from currency crisis
THE Zimbabwe International Trade Fair (ZITF) Company has proposed to pay its utility bills to the Bulawayo City Council (BCC) four months in advance citing a free-falling local currency.The lo...Published: 11 Jun 2023 at 21:33hrs | | by Staff reporter
RBZ threatens to shut down businesses, prosecute directors over price hikes
The Reserve Bank of Zimbabwe on Friday threatened "punitive measures" against businesses accused of "illegal forward pricing practices thereby manipulating the foreign exchange rate.""In terms...Published: 10 Jun 2023 at 17:53hrs | 2 | by Staff reporter
Econet, EcoCash seek to raise US$60 million
Zimbabwe's largest telecommunications firm, Econet and its sister company EcoCash Holdings are planning to raise US$30,3 million each from shareholders to redeem outstanding debentures.The deb...Published: 09 Jun 2023 at 06:33hrs | | by Staff reporter
'Shut down RBZ's irrelevant forex auction system'
ECONOMIC analysts this week said the central bank must close the foreign exchange auction system, saying it was no longer serving its purpose.The Reserve Bank of Zimbabwe (RBZ) last month limi...Published: 09 Jun 2023 at 06:33hrs | | by Staff reporter
'RBZ directive to trigger more power cuts'
EXPERTS have warned of more power outages after the central bank ordered non-exporters to settle their energy bills in Zimbabwean dollars in a bid to keep the under-fire local currency relevant....Published: 09 Jun 2023 at 06:33hrs | | by Staff reporter
Zimbabwe central bank resorts to market determined exchange rate
THE Reserve Bank of Zimbabwe has announced a range of measures to stabilise the exchange rate which include using a market-determined rate to trade foreign currency.The RBZ will from this Wedn...Published: 06 Jun 2023 at 20:05hrs | 1 | by Staff reporter
Zimdollar's black month
THE official auction and interbank exchange rates rose by about 100% and 150%, respectively, last month marking a significant depreciation of the Zimbabwe dollar, a new report has found.At the...Published: 05 Jun 2023 at 06:53hrs | | by Staff reporter
Zimbabwe millers, retailers in stand-off over mealie meal
The Grain Millers Association of Zimbabwe (GMAZ) says mainstream retail shops have low stocks of mealie meal because they want the product on credit terms at a time the exchange rate is volatile....Published: 04 Jun 2023 at 08:38hrs | 1 | by Staff reporter
Mthuli Ncube feels heat
THE government's ambitious growth projections are unlikely to be met because of protracted blackouts, which have stifled exports and further weakened the local currency.In December last year, ...Published: 02 Jun 2023 at 18:17hrs | 2 | by Staff reporter
Zimdollar in spectacular crash
THE Zimbabwe dollar crashed by a whopping 60% against the United States dollar in May alone, underlining a raging economic crisis that has wiped salaries and sent prices soaring.Zimbabwe's eco...Published: 02 Jun 2023 at 06:48hrs | | by Staff reporter
Mnangagwa threatens to legislate against foreign currency use
PRESIDENT Emmerson Mnangagwa has, in a yet-to-be-aired interview, declared Zimbabwe will continue using its waning currency despite it fast-losing value.In snippets of the interview shared by ...Published: 02 Jun 2023 at 06:43hrs | | by Staff reporter
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: 30 May 2023 at 15:10hrs | 2 | by Staff reporter
Mthuli Ncube announces policy measures to stabilize the economy
The Minister of Finance and Economic Development, Professor Mthuli Ncube, has announced policy measures which are meant to stabilize the local currency and stimulate the economy.The measures w...Published: 30 May 2023 at 11:50hrs | 6 | 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: 30 May 2023 at 06:53hrs | | by Staff reporter
NetOne threatens to blacklist dealers for overpricing
TELECOMMUNICATIONS operator, NetOne, has embarked on a drive to intensify its distribution channels countrywide in a bid to neutralize parallel market speculators and make its SIM card readily availab...Published: 29 May 2023 at 19:33hrs | | by Staff reporter
Zimdollar collapse a harbinger of worse things to come
THE Zimdollar this week recorded its biggest single day drop off since its reintroduction in June 2019 of 26% to $1 888,01, against the United States dollar on the official market.On the paral...Published: 27 May 2023 at 09:16hrs | 34 | by Staff reporter
NetOne allays SIM card shortage fears
Mobile network provider, NetOne Cellular, has dismissed allegations that it is short of SIM cards those touts and dubious agents trying to sell SIM cards for US$4, four times the official price of US$...Published: 22 May 2023 at 06:33hrs | | 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 | | by Staff reporter
Govt pounces on schools rejecting Zimdollar
GOVERNMENT is investigating schools which are reportedly rejecting local currency as a payment for schools, Education deputy minister Edgar Moyo said.While responding to questions in the Natio...Published: 15 May 2023 at 19:01hrs | | by Staff reporter
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