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Zimbabwe juggles US$1bn TBs to avert crisis
President Emmerson Mnangagwa's government is restructuring repayment terms for Treasury Bonds (TBs) as it grapples with escalating debt obligations and the looming threat of default. With nearly US$74...Published: 06 Dec 2024 at 18:06hrs | 294 | by Staff reporter
Zimbabwe charts ambitious return to global finance at debt conference
Zimbabwe's president hosted creditors and finance executives on Monday to discuss ambitious goals to clear debt arrears and restructure $12.7 billion in external debt, as the country aims to eventuall...Published: 26 Nov 2024 at 08:22hrs | 211 | by Staff reporter
Zimbabwe to pay white farmers US$331 million in move to rework debt
Zimbabwe plans to pay $331 million to white former farmers whose land the nation seized in 2000 as a step toward getting creditors to agree to restructure the nation's debt pile, which has left it loc...Published: 26 Nov 2024 at 08:19hrs | 457 | by Staff reporter
Chinese debt threatens to switch off Zimbabwe's Hwange
Zimbabwe's industrial sector is on edge this week as concerns grow over the future of the Hwange Thermal Power Station, a critical asset for the country's beleaguered power grid. With power utility Ze...Published: 24 Nov 2024 at 10:14hrs | 11679 | by Staff reporter
Zimbabwe to hold talks on $21 billion debt albatross this month
Zimbabwe will resume talks with creditors later this month to restructure $21 billion in external debt as it seeks to exit a default that's kept it locked out of international capital markets since 19...Published: 07 Nov 2024 at 07:17hrs | 392 | by Rigid Kondongwe
ZERA increases fuel prices in Zimbabwe
The Zimbabwe Energy Regulatory Authority (ZERA) has announced a fuel price adjustment for diesel and petrol blend, impacting prices in both Zimbabwean dollars and US dollars. The new rates, effective ...Published: 06 Nov 2024 at 16:24hrs | 8942 | by Staff reporter
BRICs payment system being tested
A new digital payments system, BRICS Pay, debuted for live testing at this week's BRICS Business Forum at the International Trade Center in Moscow.During the trial - on 17 and 18 October - for...Published: 19 Oct 2024 at 15:54hrs | 1751 | by Staff reporter
NRZ struggles amid sanctions, as revival efforts falter
In its prime, the National Railways of Zimbabwe (NRZ) was the backbone of the nation's transport system, transporting passengers across the country and facilitating the movement of goods beyond Z...Published: 19 Oct 2024 at 12:07hrs | 139 | by Staff reporter
Billions 'wiped off' Zimbabwe banks
Bankers in Zimbabwe have attributed a significant downturn in revenues to frequent changes in the country's functional currency, as first-half financial statements revealed a staggering loss of billio...Published: 18 Oct 2024 at 12:28hrs | 1433 | by Staff reporter
George Guvamatanga rules out Zimbabwe exchange-rate convergence
Zimbabwe won't allow the street rate of the ZiG to determine where its official rate should be as it isn't driven by market fundamentals, a senior Treasury official said.The ZiG is trading at ...Published: 18 Oct 2024 at 08:53hrs | 1703 | by Staff reporter
Mthuli Ncube assures Zimbabweans amid ZiG volatility concerns
Finance Minister Mthuli Ncube has reassured Zimbabweans that there is no cause for alarm regarding potential volatility of the Zimbabwe Gold (ZWG) currency, citing the country's balanced local currenc...Published: 12 Oct 2024 at 11:22hrs | 376 | by Staff reporter
Zimbabwe hires Rothschild advisers over $21 Billion defaulted debt pile
Zimbabwe's government has hired financial and legal advisers to help it navigate potential talks with international creditors over the $21 billion it owes, according to people familiar with the matter...Published: 10 Oct 2024 at 12:22hrs | 535 | by Staff reporter
World Bank says Zimbabwe needs economic stability to advance debt talks
Zimbabwe needs an uninterrupted period of macroeconomic stability of at least 12 months to help advance debt talks with international creditors over $21 billion it owes, the World Bank said.Ha...Published: 17 Sep 2024 at 06:52hrs | 408 | by Staff reporter
Zimbabwe needs $1.6bn to lift crop output after El Nino induced drought
ZIMBABWE needs $1.64 billion to bolster crop production after a devastating drought increased food insecurity and prompted a state of disaster.The southern African nation is targeting a more t...Published: 08 Sep 2024 at 09:46hrs | 63 | by Staff reporter
Zimbabwe industries buckle under prohibitive power tariffs
Zimbabwe's industries have been severely affected by a sharp power tariff hike implemented in November, leading to a 15% rise in costs for mines and disrupting various sectors. The 44% tariff ...Published: 06 Sep 2024 at 14:45hrs | 115 | by Staff reporter
Zimbabwe central bank injects US$190 million to meet forex demand
Zimbabwe's central bank has injected US$190 million into the foreign-exchange market to meet demand for dollars and maintain economic stability since the introduction of a new bullion-backed currency,...Published: 03 Sep 2024 at 14:37hrs | 466 | by Staff reporter
Zimbabwe central bank says it's intervening in foreign exchange market
Zimbabwe's central bank said it's "strategically intervening" in the foreign-exchange market to meet demand for dollars among lenders amid a slump in the nation's bullion-backed currency.The i...Published: 31 Aug 2024 at 11:14hrs | 629 | by Staff reporter
Zimbabwe bans unleaded fuel
The government has introduced new regulations banning unleaded petrol in Zimbabwe to encourage the use of environmentally friendly fuel and reduce reliance on imported fuel. The ban was announced thro...Published: 31 Aug 2024 at 11:10hrs | 248 | by Staff reporter
Local Bank proposes US$35bn loan to Zimbabwe Government
Time Bank of Zimbabwe has proposed a US$35 billion syndicated loan to the government to address compensation obligations for various groups, including previous farm owners and foreign lenders, as part...Published: 27 Aug 2024 at 12:42hrs | 3109 | by Staff reporter
Zimbabwe pushes hard to join Kazungula Bridge project
Zimbabwe is actively seeking to join the Kazungula Bridge project, a key regional trade route completed in 2021 and funded by international lenders including the African Development Bank, JICA, and th...Published: 03 Aug 2024 at 12:51hrs | 429 | by Staff reporter
Zimbabwe Central Bank says usage of ZiG has doubled
The use of Zimbabwe's bullion-backed currency has doubled since it was launched in early April, central bank Governor John Mushayavanhu told the country's Sunday Mail newspaper.The ZiG is now ...Published: 31 Jul 2024 at 07:07hrs | 915 | by Staff reporter
Cyril Ramaphosa's 'plot' to kill the ANC
SOME senior ANC leaders have accused President Cyril Ramaphosa of working with external parties to collapse the governing party and replace it with a centre-right coalition led by him after the 2024 g...Published: 17 Jul 2024 at 09:09hrs | 1725 | by Staff reporter
Protesters across Kenya say 'Ruto must go!'
Kenyan riot police fired tear gas at protesters in Nairobi on Tuesday and demonstrations erupted in other cities across the country demanding the resignation of President William Ruto, following a wee...Published: 02 Jul 2024 at 12:04hrs | 20 | 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's crackdown against ZiG street dealers is good news
A monthlong-drive by Zimbabwean authorities to stifle the unofficial market in their new gold-backed currency is driving the business off the streets and into the bank.Zimbabwe has imposed fin...Published: 06 Jun 2024 at 08:34hrs | 3 | by Staff reporter
Zimbabwe demands major reductions on $19.2bn debt
Zimbabwe has asked its creditors for significant debt reductions on its $19.2 billion internal and external debt, Bloomberg reported on May 30, citing Finance Minister Mthuli Ncube."We will be...Published: 03 Jun 2024 at 09:07hrs | | by Staff reporter
Nigerian billionaire Zimbabwe deals falter amid capital problems
WITH the help of Zimbabwean authorities who supported him amass platinum, gold, lithium, iron ore, tin and some rare earth mineral concessions, it first appeared like he was going far.At some poin...Published: 28 May 2024 at 12:46hrs | 9 | by Staff reporter
Ministry of SMEs holds the key to Zimbabwe's Growth
The Monetary Policy statement and other documents indicate that Micro, Small, and Medium Enterprises (MSMEs) contribute a significant 60% to Zimbabwe's gross domestic product (GDP). This news highligh...Published: 13 Apr 2024 at 17:37hrs | 10 | by Mandla Ndlovu
Zimbabwe's new ZiG currency strengthens on second day of trading
Zimbabwe's new gold-backed currency the ZiG strengthened a day after its debut, even as it roiled commerce nationwide as banks, retailers and utilities battled to switch to the new unit.It gai...Published: 10 Apr 2024 at 06:05hrs | 5 | by Staff reporter
Zimbabwe's new ZiG spins markets into trading disruptions and uncertainty
Zimbabwe's newly introduced ZiG currency is causing market disruptions and transaction bottlenecks despite central bank assurances that it is backed by gold and foreign currency reserves, amid sceptic...Published: 09 Apr 2024 at 06:24hrs | | by Staff reporter
AfDB to fund a $250 million gold mine in Zimbabwe
THE African Development Bank (AfDB) has shown great interest in funding Caledonia Mining Corporation's planned $250 million gold mine in Zimbabwe.The information was relayed by the company's c...Published: 06 Apr 2024 at 08:16hrs | 1 | by Staff reporter
Mr Kudzai Mutisi, the German 'Economic wonder' after the WW2 had multiple favourable factors!
I am writing this article as a reply to your article you wrote last week: My article is not in any way or form critiquing your own but including factors that must be known, but, however, adding to wha...Published: 20 Mar 2024 at 20:53hrs | 2 | by Nomazulu Thata
Mnangagwa regime doing the work of US sanctions in Zimbabwe!
My own views on this sanctions issue have always been that we needed to prove these measures were the cause of our suffering. I have never denied that there have been targeted sanctions impose...Published: 06 Mar 2024 at 23:01hrs | 6 | by Tendai Ruben Mbofana
Uneca tells Zimbabwe to work on debt
THE United Nations Economic Commission for Africa (Uneca) deputy executive secretary programme Support Antonio Pedro says Zimbabwe needs to work on its debt to deal with its economic crises.Cu...Published: 04 Mar 2024 at 04:44hrs | 13 | by Staff reporter
Another plan to rescue Zimdollar
ZIMBABWE is considering overhauling its exchangerate regime as the government seeks new measures to save its beleaguered currency.The latest proposals will be in a monetary policy statement th...Published: 11 Feb 2024 at 21:07hrs | | by Staff reporter
Zimbabwe to benefit from AfDB's US$40m Mozambique facility
THE African Development Bank's (AfDB) US$40 million loan to Mozambique's State-owned rail and port authority, Portos e Caminhos de Ferro de Moçambique EP (CFM), will help neighbouring countries, incl...Published: 09 Feb 2024 at 06:59hrs | 1 | by Staff reporter
Zimbabwe: African Development Bank approves $25 million trade finance line of credit for Central Africa Building Society
The Board of Directors of the African Development Bank Group (www.AfDB.org/en) has approved a $25 million trade finance line of credit facility to the Central Africa Building Society of Zimbabwe, to b...Published: 20 Dec 2023 at 22:34hrs | 26 | by APO
Zimbabwe govt approves 27 IPP projects
GOVERNMENT has approved 27 out of 28 projects from independent power producers (IPPs) amid a rising backlog in unapproved applications at a time when Zimbabwe is facing incessant power cuts.It...Published: 15 Dec 2023 at 07:55hrs | 1 | by Staff reporter
Secrecy surrounding resource-backed loans in Zimbabwe
IntroductionTO realize the aspirations of Vision 2030, Zimbabwe needs to invest US$2 billion in infrastructure development in five consecutive years to close the infrastructure asset gap, a hu...Published: 07 Dec 2023 at 05:29hrs | 15 | by Mbongeni Nhliziyo
The ultimate guide to finding the perfect franchise
Are you tired of working a 9-5 job and dreaming of being your own boss? Have you considered investing in a franchise but don't know where to start? Look no further! In this ultimate guide, we will wal...Published: 15 Nov 2023 at 09:32hrs | 15 | by Staff Reporter
'Zimbabwe's hastened currency shift won't end lending crisis'
Economists suggest that the recent issuance of a Statutory Instrument (SI) extending the use of multiple currencies in Zimbabwe until 2030 may have revealed the extent of President Emmerson Mnangagwa'...Published: 03 Nov 2023 at 14:55hrs | 8 | by Staff reporter
Zimbabwe wants new IMF staff-monitored program by April
Zimbabwe hopes to agree a new staff-monitored program with the International Monetary Fund (IMF) by April next year, with an IMF team due to visit later this month for initial talks, its finance minis...Published: 14 Oct 2023 at 08:56hrs | | by Staff reporter
Zimbabwe needs US$12 billion for infrastructure rehab
The Ministry of Energy and Power Development has presented a staggering $12 billion proposal to comprehensively upgrade the country's infrastructure to meet international standards.The majorit...Published: 04 Oct 2023 at 06:18hrs | | by Staff reporter
Men are not angels, Mr President
GOOD day, President Emerson Mnangagwa. Your Excellency, the August 23 and 24 harmonised elections left no electoral fundamental standing. They were a sham and conspicuous by hollowness.They we...Published: 04 Oct 2023 at 06:08hrs | | by Cyprian Muketiwa Ndawana
Zimbabwean loan shark jailed in the UK
A Birmingham caregiver who engaged in illegal loan shark transactions, collecting £350,000 and charging a 20% interest rate, has been sentenced to jail.Tecla Bandawe, driven by greed, provide...Published: 02 Oct 2023 at 09:19hrs | 1 | by Staff reporter
Miss Universe Zimbabwe imitating Zozibini 'Zozi' Tunzi
REIGNING Miss Universe Zimbabwe first princess Nokutenda Shekinah Marumbwa has rubbished claims that she does mimic famous South African model Zozibini "Zozi" Tunzi.Marumbwa was among the fina...Published: 30 Sep 2023 at 07:51hrs | 8 | by Staff reporter
African Union becomes permanent member of G-20
The group of the world's 20 leading economies is welcoming the African Union as a permanent member, a powerful acknowledgement of Africa as its more than 50 countries seek a more important role on the...Published: 09 Sep 2023 at 12:11hrs | | by Staff reporter
African Union becomes permanent member of G-20
The group of the world's 20 leading economies is welcoming the African Union as a permanent member, a powerful acknowledgement of Africa as its more than 50 countries seek a more important role on the...Published: 09 Sep 2023 at 12:11hrs | | by Staff reporter
Zimbabwe's Beitbridge border post project a flagship PPP
South African infrastructure development and construction materials supply group Raubex CEO Felicia Msiza enthuses that the project Raubex completed for the Zimbabwean government's road authority Zimb...Published: 06 Sep 2023 at 20:24hrs | 4 | by Cameron Mackay
Zanu-PF's vote lead grows
Partial results from Zimbabwe's parliamentary election suggested the ruling party's lead was growing on Friday, but election observers said the vote did not meet international standards and was conduc...Published: 26 Aug 2023 at 16:39hrs | 1 | by Staff reporter
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