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Banks scale back Zimbabwe dollar lending
BANKS have significantly reduced lending in the local currency ever since monetary authorities hiked interest rates last year to prevent rent-seeking behaviour by individuals and corporates, Reserve B...Published: 04 Jun 2023 at 08:29hrs | 40 | by Staff reporter
Zimbabwe is poor because of IMF
THE International Monetary Fund (IMF)'s programmes have come under fire from civil society, which claims they have lasting repercussions on public service delivery, development, and poverty.Th...Published: 21 May 2023 at 08:12hrs | 195 | by Staff reporter
Zimbabwe ups tempo on debt resolution
President Mnangagwa's scheduled engagements at the African Development Bank (AfDB)'s annual meetings in Sharm el-Sheik, Egypt, this week will add impetus to Zimbabwe's arrears clearance and debt resol...Published: 21 May 2023 at 08:02hrs | 34 | by Staff reporter
'Zimbabwe debt resolution will open funding floodgates'
THE successful conclusion of discussions on Zimbabwe's arrears clearance and debt resolution will lay a firm foundation for the lifting of economic sanctions and help to unlock fresh and affordable ex...Published: 21 May 2023 at 08:02hrs | 56 | by Staff reporter
Africa should stop being such a crybaby!
We all know there is nothing more 'uncool' or 'unsexy' than someone who never owns up to his own failures in life - but seeks to blame others as to why he is not succeeding.Amongst all these, ...Published: 17 May 2023 at 13:44hrs | 495 | by Tendai Ruben Mbofana
AfDB to assist Zimbabwe govt compensate white farmers
THE African Development Bank (AfDB) says it is working on a financial instrument to fund the US$3,5 billion needed to compensate white former commercial farmers.AfDB is working with the Minist...Published: 16 May 2023 at 05:10hrs | 640 | by Staff reporter
Zimbabwe to hold 'deeper' talks with rich nations over debt
Zimbabwe will hold talks with the US, UK and the European Union to end an impasse over $14 billion owed to external creditors as it seeks to shore up funding for development programs.The south...Published: 14 Apr 2023 at 07:45hrs | 180 | by Staff reporter
Siphosami Malunga meets Kamala Harris in Zambia
Siphosami Malunga, a human rights activist and the executive director of the Open Society Initiative for Southern Africa (OSISA) was a guest speaker at a convening by Kamala Devi Harris in Lusaka to d...Published: 02 Apr 2023 at 17:15hrs | 2131 | by Staff reporter
Mthuli Ncube set to retain post after election
Zimbabwean Finance Minister Mthuli Ncube secured the ruling party's endorsement to stand as a lawmaker in upcoming elections, a possible precursor to his reappointment in the next administration....Published: 30 Mar 2023 at 06:47hrs | 1844 | by Staff reporter
Is Hwange Unit 7 another huge big scam and con job?
Is it just me, or has everyone else also noticed that, ever since Hwange Unit 7 Thermal Power Station came online, two days ago, load shedding has strangely increased?Excuse me for my ignoranc...Published: 22 Mar 2023 at 07:16hrs | 3567 | by Tendai Ruben Mbofana
Mnangagwa preside over Zimbabwe implosion
WHILE President Emmerson Mnangagwa claimed that the majority of his ministers were doing well - with three outstanding and two being a dismal failure - the reality on the ground is different: Zimbabwe...Published: 20 Mar 2023 at 15:05hrs | 789 | by Staff reporter
How to create your business plan in 5 steps
Do you want to launch a business but are unsure of where to start? Writing a solid business plan is essential if you are looking to secure funding and develop long-term success.When starting a...Published: 09 Mar 2023 at 22:55hrs | 364 | by Staff Reporter
Zimbabwe govt appoints power projects technical committee
GOVERNMENT has appointed a 20-member technical committee to be part of the team responsible for the implementation of power projects in the country.This comes after Finance and Economic Develo...Published: 06 Mar 2023 at 05:16hrs | 320 | by Staff reporter
Zimbabwe was colonized through a 'mega deal', and happening again with the Chinese and Belarusians
When people talk of colonization, there are those with the misguided notion that this only occurs via military conquest - usually, by a more powerful nation over a far weaker one.Yet, this cou...Published: 02 Mar 2023 at 07:32hrs | 1283 | by Tendai Ruben Mbofana
Mnangagwa's latest revised plan: 'Nyika inovakwa inorakashwa ivenevayo imashefu namaChina!'
"Zimbabweans jam UK work visa applications" screamed the headline. 8 363 skilled and semi-skilled Zimbabweans were granted UK work permit in 2022 up from 499 in 2019. The truth is Zimbabweans have bee...Published: 27 Feb 2023 at 18:57hrs | 1219 | by Nomusa Garikai
Zimbabwe to become Africa's Dubai
Zimbabwe plans to set up an offshore financial center in the resort city of Victoria Falls that the government hopes will emulate the likes of Dubai and the Isle of Man to attract foreign investment....Published: 25 Feb 2023 at 08:54hrs | 11281 | by Staff reporter
Zimbabwe to compensate white former farmers over 10 years instead of 20
Zimbabwe will compensate white farmers, whose land was taken, over 10 years instead of the 20 announced three years ago, finance minister Mthuli Ncube said on Thursday, adding that the money would be ...Published: 25 Feb 2023 at 07:51hrs | 550 | by Staff reporter
Belarus deals help bust Zimbabwe sanctions
A STRING of bilateral agreements that were signed between Zimbabwe and Belarus this week and in 2019, have helped the country bust sanctions not only in the agriculture sector which is on the rebound,...Published: 03 Feb 2023 at 06:46hrs | 363 | by Staff Reporter
Zimbabwe govt turns to banks to fund roads rehabilitation
ZIMBABWE'S roads administrator said this week it had kicked off processes to draft in banks to bolster its capacity to fund rehabilitation of the country's crumbling road network.In an intervi...Published: 21 Jan 2023 at 11:25hrs | 1149 | by Staff reporter
Lenders slap Zimbabwe with US$2,1 billion penalties
INTERNATIONAL creditors and banks have hit Zimbabwe with penalties totalling US$2,1 billion for unsettled debts, official data has shown.According to a report titled "Statement of Zimbab...Published: 18 Dec 2022 at 06:50hrs | 1155 | by Staff reporter
Zimbabwe fulfils land compensation obligations?
WITH allocations in next year's budget and the Government and white former commercial farmers ready to work together to raise funds through long-term bonds, the farmers will start receiving compensati...Published: 07 Dec 2022 at 05:04hrs | 195 | by Staff reporter
Zimbabwe govt pays US$50,28m to service external debt
TREASURY paid out US$50,28 million between January and September this year towards servicing its active debt portfolio while token payments were also made for debt arrears owed to International Financ...Published: 29 Nov 2022 at 05:15hrs | 235 | by Staff reporter
Zimbabwe govt fails to make payments to white farmers
Zimbabwe is proposing changing the terms of a $3.5bn compensation deal signed with white former farmers two years ago, after twice missing agreed-to payments.The revised plan was part of finan...Published: 27 Nov 2022 at 14:56hrs | 219 | by Staff reporter
Sanctions weighing on Zimbabwe banking sector
ILLEGAL sanctions imposed on Zimbabwe by western countries, led by Britain and America, have had a detrimental impact on the country's financial services sector as the embargo has seen the number of c...Published: 17 Oct 2022 at 06:04hrs | 280 | by Staff reporter
Why is debt tough in poor countries than US?
The debate on African development has been trapped between mismanagement by its leadership and those who argue that Africa is rising but its progress is waylaid by conditions it found itself in upon j...Published: 10 Oct 2022 at 06:09hrs | 176 | by Tapiwa Gomo
Mnangagwa finally proves 'sanctions imposed on Zimbabwe' a big fat lie!
I have always asserted to my friends that, as much as state media is an insufferable drag to read or watch - due to the pathetic and disgraceful substandard work - but, most of the Zimbabwe regime's l...Published: 26 Sep 2022 at 09:31hrs | 4299 | by Tendai Ruben Mbofana
Biti questions Zimbabwe external debt figure
FORMER Finance minister and Harare East legislator Tendai Biti has questioned the country's current external debt and says that the actual figure was likely higher than what government has disclosed....Published: 26 Sep 2022 at 05:59hrs | 682 | by Staff reporter
Dump this 99-year lease nonsense
ZIMBABWE'S land issue has cracked our heads for too long to a point that we are now unable to utilise the God-given natural resource for our own good.As we write, millions of Zimbabweans face ...Published: 21 Sep 2022 at 06:01hrs | 592 | by Staff reporter
Zimbabwe's capital markets collapse
DELTA Corporation CEO Matlhogonolo Valela has given graphic details about the frustrations that local firms have been enduring in accessing capital due to the country's difficult business environment....Published: 11 Sep 2022 at 15:21hrs | 1103 | by Staff reporter
Mthuli Ncube sued 120 times over unpopular policies
FINANCE minister Mthuli Ncube says he has been sued over 120 times over his unpopular economic measures.Since becoming the Treasury boss in September 2018, Ncube has implemented several contro...Published: 05 Sep 2022 at 06:41hrs | 878 | by Staff reporter
Policy flaws chasing Forex from the formal market
It is estimated that US$2.5 billion is circulating outside the formal banking system in Zimbabwe with households, businesses and foreign investors preferring to store their hard-earned foreign currenc...Published: 11 Aug 2022 at 12:05hrs | 2177 | by Victor Bhoroma
Foreigners loot Zimbabwe's emeralds
WELL-CONNECTED foreign syndicates are looting Zimbabwe's emeralds using local proxies and taking advantage of corrupt systems to plunder and smuggle various other types of little-known precious stones...Published: 07 Aug 2022 at 18:50hrs | 987 | by Staff reporter
Zimbabwe to host high-level forum on debt resolution
The Zimbabwean government said Thursday it will soon host a high-level debt resolution forum with development partners and other stakeholders aimed at building consensus among stakeholders on resolvin...Published: 29 Jul 2022 at 06:56hrs | 508 | by Staff reporter
Zimbabwe misses out on G7 stimulus package
ZIMBABWE missed out on a G7-backed multi-billion-dollar stimulus package designed to help countries of the global South weather economic shocks caused by the Covid-19 pandemic.The reason for t...Published: 25 Jul 2022 at 07:57hrs | 805 | by Staff reporter
340km of Harare - Beitbridge highway revamp complete
AT least 340 kilometres of the Harare-Beitbridge highway have been reconstructed and opened to motorists in the past two years, officials said Friday, promising to expand the aggressive road revamp pr...Published: 17 Jul 2022 at 09:13hrs | 671 | by Staff reporter
Zimbabweans have suffered long enough, says African Development Bank boss
THE African Development Bank (AfDB) says it has accepted to assist Zimbabwe's US$13,5 billion debt clearance plan partly because of the need to alleviate the country's citizens from the impact of extr...Published: 13 Jul 2022 at 07:26hrs | 12517 | by Staff reporter
AfDB to lead Zimbabwe debt clearance roadmap
AFRICAN Development Bank (AfDB) president Dr Akinwumi Adesina has formally accepted President Mnangagwa's request to lead Zimbabwe's debt clearance strategy, which is key for Harare to unlock fresh fu...Published: 13 Jul 2022 at 07:17hrs | 159 | by Staff reporter
'Chamisa could defeat the unreformed Mnangagwa'
ZIMBABWE has been reeling under a multifaceted economic and political crisis since 2000, and it appears there is no end in sight. Amid chronic high inflation, Zimbabwe is confronted with a crucial gen...Published: 12 Jul 2022 at 18:17hrs | 5584 | by Staff reporter
Mnangagwa's ailing govt splurges millions on ministers
GOVERNMENT will soon splurge millions of United States (US) dollars to buy luxury homes for Cabinet ministers and their deputies at a time President Emmerson Mnangagwa's administration is ...Published: 01 Jul 2022 at 19:45hrs | 2607 | by Staff reporter
Zimbabwe gold coins: A masterstroke?
IT is indeed in times of crisis and turmoil that the creativity of nations emerges and in my opinion, the idea of launching gold coins by the Reserve Bank of Zimbabwe (RBZ) is a master stroke that cou...Published: 01 Jul 2022 at 07:28hrs | 2790 | by Staff reporter
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: 30 Jun 2022 at 19:46hrs | 2682 | by Staff reporter
Mnangagwa gazettes multi-currency system into law
President Mnangagwa has gazetted Statutory Instrument 118A of 2022 entrenching the multi-currency system as announced by Finance and Economic Development Minister Professor Mthuli Ncube yesterday. ...Published: 28 Jun 2022 at 19:24hrs | 1951 | by Staff reporter
Backlash over Chinese loans
ZIMBABWE'S debt-stricken administration last year struggled to access fresh loans to scale up ambitious plans to revamp key infrastructure projects after accumulating significant arrears on lifelines ...Published: 23 Jun 2022 at 06:47hrs | 733 | by Staff reporter
Longing for a bygone era will not fix Zimbabwe's economy
Social media can be a tool for comedic relief, venting frustration and a means of trolling at the same time. My favourite Social Network is Twitter due to its remarkable interface and ability to conne...Published: 20 Jun 2022 at 16:03hrs | 503 | by Dr Farai Nyika. Economics Academic at Management College of Southern Africa (MANCOSA).
Zimbabwe abandons debt relief initiative
The Zimbabwe government has abandoned its plan to access a debt relief facility under the Highly Indebted Poor Countries (HIPC) initiative, meant to resolve its unsustainable debt, Business Times repo...Published: 02 Jun 2022 at 09:29hrs | 1165 | by Staff reporter
Government salary deductions rile civil servants
CIVIL servants are up in arms with their employer over 2.5% deductions from their salaries every month towards a loan scheme allegedly meant to benefit them.Attempts to opt out of the "forced"...Published: 21 May 2022 at 18:30hrs | 635 | by Staff reporter
RBZ to launch collateral registry
THE Reserve Bank of Zimbabwe (RBZ) says the collateral registry, a record keeping system for the existence of security, would be launched by the third quarter of this year. The collateral regi...Published: 19 May 2022 at 06:31hrs | 103 | by Staff reporter
Zimbabwe govt reduces fuel prices
Mandatory blending of ethanol in unleaded petrol has been increased from 10 percent to 20 percent at the end of this month to reduce fuel price increases on the global market and give a relief to ...Published: 18 May 2022 at 18:45hrs | 594 | by Staff reporter
Ethanol blending up increased to 20% to kill injectors
Mandatory blending of ethanol in unleaded petrol has been increased from 10 percent to 20 percent at the end of this month to reduce fuel price increases on the global market and give a relief to ...Published: 18 May 2022 at 06:18hrs | 475 | by Staff reporter
Mnangagwa creates unprecedented chaos
AGAINST threats from growth inhibiting factors, like pandemic-induced lockdowns, forex shortages, hyperinflation and rolling blackouts, Zimbabwe's industrial sector expanded by a big margin last year....Published: 13 May 2022 at 19:11hrs | 4681 | by Staff reporter
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