Search / John mangudya
Zimbabwe has totally collapsed
Zimbabweans do not need Judas Iscariot to tell them that the economy of Zimbabwe is no more. There is no Zimbabwe and economy to talk about. The procurement of the new anti-riot gear by ZANU PF govern...Published: 10 hrs ago | 6193 | by Don Chigumba
'People's wholesale' prank irks RBZ
WITTY Zimbabweans never run short of humour to drown their sorrows, particularly now when the economic chips are down.In the latest jest, desperate consumers are being deceived through social ...Published: 15 Jun 2019 at 08:58hrs | 488 | by Staff reporter
'Zimbabwe inflation to shoot up to 280% by year-end'
INFLATION could end the year around 280% and may rise to stratospheric levels thereafter if a new currency is introduced without preceding macro-economic fundamentals, a local research firm has said....Published: 14 Jun 2019 at 08:26hrs | 1645 | by Staff reporter
Paynet switches off Zimbabwe banks
PAYNET, a subsidiary of Mauritian financial services provider Payserv Africa, has suspended all local financial institutions from its transacting platform after they refused to pay in foreign currency...Published: 14 Jun 2019 at 08:24hrs | 6620 | by Staff reporter
End of the road Emerson
That's it. Its the end of the road for Emerson Mnangagwa. He should just pack his begs and go back to Zvishavane, or, by the way, is it Zambia. Once a dictator starts changing the constitution to limi...Published: 07 Jun 2019 at 20:07hrs | 10914 | by Clemen Moyo
Chamisa's ZCTU, Mnangagwa's govt come face-to-face
PRESIDENT Emmerson Mnangagwa yesterday came face-to-face with Zimbabwe Congress of Trade Unions (ZCTU) president Peter Mutasa, who faces a charge of trying to unseat the former through unconstitutiona...Published: 06 Jun 2019 at 07:43hrs | 7168 | by Staff reporter
Coup rumor against President ED Mnangagwa
There are allegations from the media that a coup against President ED Mnangagwa is imminent. This piece seeks to dispute such rumors. The rumors are created by President ED Mnangagwa and his team in o...Published: 05 Jun 2019 at 09:26hrs | 16860 | by Don Chigumba
What the latest IMF report on Zimbabwe means
In the report, the International Monetary Fund (IMF) acknowledges the commitment by President Emmerson Mnangagwa's government to stabilise Zimbabwe's economy.The fund also reveals that the IMF...Published: 05 Jun 2019 at 08:01hrs | 2064 | by newZWire
Parallel market exchange rates tumble
PARALLEL market exchange rates have tumbled from a peak of US$1:RTGS$9 recently and remain frozen at US$1:RTGS$6 since last week amid indications the rate could drop further after Government secured a...Published: 05 Jun 2019 at 07:52hrs | 4844 | by Staff reporter
Mutsvangwa's son in illegal forex deals storm
THE case of Information minister Monica Mutsvangwa and former adviser to the President, Christopher Mutsvangwa's son, Neville, who is allegedly running an illegal foreign currency trading business, ha...Published: 01 Jun 2019 at 07:55hrs | 2683 | by Staff reporter
Social media to blame for fuel price hikes: Govt
ENERGY minister Fortune Chasi and Reserve Bank governor John Mangudya yesterday blamed the social media for spreading false narratives about the fuel situation, resulting in panic-buying and contribut...Published: 31 May 2019 at 18:20hrs | 538 | by Staff reporter
Zanu-PF has our Money!
We were pleased to host President John Magufuli of Tanzania these past two days and he was kind enough to Cde Crocodile to speak the Zanu-PF party line and call for an end to sanctions on Zimbabwe, sa...Published: 31 May 2019 at 09:01hrs | 3238 | by GoodNess Nwachukwu
The Zanu-PF has our Money!
We were pleased to host President John Magufuli of Tanzania these past two days and he was kind enough to Cde Crocodile to speak the Zanu-PF party line and call for an end to sanctions on Zimbabwe, sa...Published: 31 May 2019 at 08:09hrs | 1699 | by GoodNess Nwachukwu
Liberalised market expected to generate foreign currency for struggling economy
The Confederation of Zimbabwe Industries (CZI) sees the parallel market exchange rate correcting when it reaches Real Time Gross Settlement (RTGS)$8:US$1, saying there is not enough stock of the local...Published: 31 May 2019 at 08:07hrs | 567 | by Staff reporter
Forex measures suffocate exporters
INDUSTRY has warned a fresh tide of closures of exporting manufacturing companies is looming in Zimbabwe owing to stringent foreign currency retention measures introduced by government in February at ...Published: 31 May 2019 at 08:07hrs | 301 | by Staff reporter
RBZ fail to fund Zimbabwe investor portfolio fund
THE Reserve Bank of Zimbabwe (RBZ) has failed to fund the Zimbabwe investor portfolio fund since 2017 due to loss of confidence in the economy by foreign investors, businessdigest reported.Fun...Published: 31 May 2019 at 07:57hrs | 287 | by Staff reporter
'Black market rates to tumble'
RESERVE Bank of Zimbabwe (RBZ) top officials yesterday insisted that the parallel market rates will soon tumble because the current balance of RTGS dollars in circulation cannot sustain the prevailing...Published: 31 May 2019 at 07:41hrs | 4236 | by Staff reporter
Fuel firms to lose licences
Mystery surrounds the distribution of fuel in Zimbabwe after authorities have established that while enough money has been availed for players to procure the product, it has not been channelled to the...Published: 31 May 2019 at 07:23hrs | 768 | by Staff reporter
Inter-bank, parallel market rates won't converge: Analysts
ANALYSTS say claims by monetary and fiscal authorities that the interbank market and the parallel market for foreign currency will converge are highly unlikely in the absence of a sustained supply of ...Published: 30 May 2019 at 07:57hrs | 2172 | by Staff reporter
Mthuli Ncube and Mangudya told to resign
Former MDC-T Spokesperson Linda Masarira has called upon Reserve Bank Governor Dr John Panonetsa Mangudya and Finance Minister Professor Mthuli Ncube to resign because they have in solving the economi...Published: 30 May 2019 at 05:04hrs | 12689 | by Mandla Ndlovu
Mnangagwa's govt cracks whip on fuel sector
GOVERNMENT has started cracking down on illegal dealings in the fuel sector which include unilateral price increases and demands for foreign currency as the only form of payment. Energy ...Published: 29 May 2019 at 08:45hrs | 2635 | by Staff reporter
Canada miner in talks to buy Zimbabwe gold project
Canada-based B2Gold Corp. is considering buying an idled Zimbabwean gold mine - if it can be exempted from a law that requires producers to sell all the metal to the country's central bank, people fam...Published: 24 May 2019 at 07:33hrs | 1057 | by Bloomberg
Mnangagwa's 'Open for business' mantra collapses
THE surprise move by major gold producer Metallon Corporation to sue the government over its failure to pay for gold deliveries commensurately has brought into sharp focus the country's continued fore...Published: 24 May 2019 at 07:31hrs | 1921 | by Staff reporter
Mthuli Ncube is not a Professor for nothing
"Be careful what you wish for," is an English expression used to tell people to think before they say they want something and to suggest that they may not actually want it. There may be unforeseen and...Published: 24 May 2019 at 06:48hrs | 5290 | by Conway Tutani
ZNA used loot-all-you-want platinum concession to secure $500m loan - proof junta resolve to hang on
Last week RBZ Governor, Dr John Mangudya, and Finance Minister, Professor Mthuli Ncube, were thrilled to announce that the country secured a $500 million loan. The loan would end the shortages of fuel...Published: 23 May 2019 at 18:29hrs | 1419 | by Wilbert Mukori
Zanu-PF rivals call for dialogue
Opposition political parties have renewed their appeal for inclusive national dialogue in the wake of the worsening economic crisis, with Nelson Chamisa's MDC party warning of calamitous demonstration...Published: 22 May 2019 at 07:01hrs | 3340 | by Staff reporter
Fresh protests loom in Zimbabwe
Zimbabwe is now at risk of fresh protests after the cash-strapped government on Monday night unexpectedly announced that it had cancelled fuel subsidies for imports.Caught in a debilitating en...Published: 21 May 2019 at 18:10hrs | 4952 | by ANA
After denials, ZERA hikes fuel price
The Zimbabwe Energy Regulatory Authority (ZERA) has effected fuel price adjustments from this Tuesday in light of the new measures taken by the Reserve Bank of Zimbabwe (RBZ) on fuel procurement based...Published: 21 May 2019 at 16:29hrs | 1702 | by Staff reporter
Zimbabwe open to renegotiate 99-year leases with banks
FINANCE and Economic Development Minister Professor Mthuli Ncube has said Government is open to renegotiating with banks to make 99-year leases acceptable to financial institutions.The Reserve...Published: 21 May 2019 at 06:23hrs | 1227 | by Staff reporter
RBZ scraps 1:1 rate for oil marketing firms
The Reserve Bank of Zimbabwe (RBZ) has directed banks to discontinue twinning arrangements for their customers, with a view to promote efficient functioning of interbank market and willing-buyer willi...Published: 21 May 2019 at 06:20hrs | 877 | by Staff reporter
Fuel procurement now via interbank rate
GOVERNMENT has, with immediate effect, removed the 1:1 foreign currency exchange rate for the procurement of fuel by Oil Marketing Companies (OMCs), which will result in the interbank market being use...Published: 21 May 2019 at 06:19hrs | 669 | by Staff reporter
Trust new dispensation, says Mthuli Ncube
Finance and Economic Development Minister Professor Mthuli Ncube has called on citizens to trust the new dispensation, saying since coming into office, it has "walked the talk" and is determined to tu...Published: 21 May 2019 at 06:19hrs | 1294 | by Staff reportetr
Zimbabwe business agree on price stabilisation process
BUSINESS organisations have agreed on a process to arrest the economic decline and stabilise prices of basic commodities.At the end of last week, the forex parallel market rates had jumped to ...Published: 20 May 2019 at 06:59hrs | 2688 | by Staff reporter
Hwange Power Station funding under threat
Zimbabwe might face challenges accessing the US$1 billion loan facility from China Eximbank for Hwange Power Station expansion following the change of functional currency that resulted in funds that w...Published: 20 May 2019 at 06:28hrs | 544 | by Staff reporer
Mangudya to release US$500m for interbank forex
The Reserve Bank of Zimbabwe has confirmed that it will be drawing US$500 million on Monday to supply the interbank forex market.The interbank market has for the past few weeks not been all th...Published: 18 May 2019 at 18:36hrs | 9577 | by Staff reporter
Zimbabwe interbank forex market set for overhaul
A proposal has been tabled to overhaul the interbank market with a view to make it market driven and free from government intervention as part of measures to ensure liberalization of the foreign marke...Published: 18 May 2019 at 13:59hrs | 2834 | by Staff reporter
Joram Gumbo's tenure littered with allegations of corruption
FORMER Energy and Power Development minister Joram Gumbo was this week unceremoniously demoted to a junior ministerial post due to a string of corruption allegations, gross incompetence and fuel short...Published: 17 May 2019 at 07:19hrs | 2633 | by Staff reporter
Mzi Khumalo's company sues Zimbabwe for failing to pay for gold
Metallon Corporation ("Metallon"),the leading gold mining company in Zimbabwe, has served legal notice to the Reserve Bank of Zimbabwe (RBZ) and Fidelity Printers and Refiners Limited, (FPR) for lack ...Published: 16 May 2019 at 18:01hrs | 2890 | by Staff reporter
SA sets tough terms on US$1.2bn Zimbabwe loan request
Zimbabwe's debt-ridden government is in a dilemma after South Africa asked her northern neighbour to securitise mineral proceeds in exchange for a US$1,2 billion (R17billion) bailout package, it...Published: 16 May 2019 at 07:21hrs | 3801 | by Staff reporter
Zimbabwe customers hit back at unscrupulous businesses
Prices of some local products appear to have entered a self-correction mode as consumer demand is said to have declined by at least 40 percent. Just last week, listed beverages giant Delta Cor...Published: 14 May 2019 at 07:27hrs | 886 | by Staff reporter
'Zimbabwe has no price distortions'
GOVERNMENT has denied there is a three-tier pricing system with Industry and Commerce deputy minister RajeshKumar (Raj) Modi claiming the 2019 Monetary Policy Statement (MPS) by Reserve Bank of Zimbab...Published: 13 May 2019 at 16:19hrs | 1124 | by Staff reporter
Economic take-off main priority for Mangudya second term
Reserve Bank of Zimbabwe governor Dr John Mangudya (JM) was last week re-appointed for a second five year term. Sunday Mail Editor Victoria Ruzvidzo (VR) spoke to the central bank chief about his expe...Published: 12 May 2019 at 06:34hrs | 199 | by Staff reporter
Zimbabwe fuel crisis could get worse, warns Mnangagwa ally
Long fuel queues formed around Zimbabwe on Monday, on the same day that the Energy Minister Joram Gumbo warned it might get worse.Zimbabwe's problem is simple: Trafigura and Glencore have mil...Published: 07 May 2019 at 06:12hrs | 6732 | by ZimLive
Dr Mangudya's reappointment welcome
The reappointment of Dr John Mangudya by President Emmerson Mnangagwa for a second five-year term as Governor of the Reserve Bank of Zimbabwe, and thus the custodian of the national monetary policy, w...Published: 05 May 2019 at 09:29hrs | 344 | by Staff reporter
Mnangagwa extends Mangudya's RBZ tenure by 5 more years
PRESIDENT Emmerson Mnangagwa has extended the term of office of Reserve Bank of Zimbabwe governor John Mangudya by another five years.In a statement last night, the Chief Secretary to the Pres...Published: 04 May 2019 at 08:06hrs | 2936 | by Staff reporter
Mnangagwa's govt in new US$5bn funding negotiations
A UNITED Kingdom-based international financial consultancy firm, ICG Capital and Finance Corps Limited — in partnership with five top-tier United States banks — has tabled a US$5 billion debt rest...Published: 03 May 2019 at 07:21hrs | 2342 | by Staff reporter
Mystery over Mangudya's new contract'
The fate of Reserve Bank of Zimbabwe (RBZ) governor John Mangudya's stay in office remains a mystery after his first term lapsed on Tuesday amid indications that government is yet to extend his contra...Published: 02 May 2019 at 11:13hrs | 6859 | by Staff reporter
Mnangagwa meets Advisory Council
President Emmerson Mnangagwa yesterday met members of the Presidential Advisory Council (PAC), with discussions on how to move the country forward topping the agenda. Speaking to journalists a...Published: 01 May 2019 at 08:37hrs | 419 | by Staff reporter
Zimbabwe needs political solutions for economic problems
Hawkins, an economics professor who founded the Graduate School of Management at the University of Zimbabwe, made the remarks at a recent breakfast meeting hosted by the Institute of Directors Zimbabw...Published: 29 Apr 2019 at 13:10hrs | 1449 | by Dr Masimba Mavaza
RBZ sabotaging Zimbabwe economic recovery
WHEN Mthuli Ncube was appointed Finance and Economic Development minister, he quickly took charge at the ministry, appointing a new permanent secretary and several directors and publishing a Transitio...Published: 29 Apr 2019 at 07:10hrs | 2194 | by Eddie Cross
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