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CBZ: Zimbabwe's best bank in 2018
CBZ Bank has been voted as Zimbabwe's best-performing bank in 2018 by US-based Global Finance Magazine.CBZ Bank, which has an asset base of US$ 2billion and deposits worth $1,8 billion, is con...Published: 17 Mar 2019 at 08:32hrs | 210 | by Staff reporter
South Africa to monitor Zimbabwe's economic affairs
IN an unprecedented move, Zimbabwe has agreed to allow South Africa - the continent's most developed economy and powerhouse - to sit in official Ministry of Finance meetings to oversee Harare's debt c...Published: 15 Mar 2019 at 17:15hrs | 2163 | by Staff reporter
SA to sit in next critical Zimbabwe Treasury meetings
IN an unprecedented move, Zimbabwe has agreed to allow South Africa - the continent's most developed economy and powerhouse - to sit in official Ministry of Finance meetings to oversee Harare's debt c...Published: 15 Mar 2019 at 06:24hrs | 3423 | by Staff reporter
Government amends Private Voluntary Organisations Act
GOVERNMENT has resolved to amend the Private Voluntary Organisations Act (Chapter 17:05) to ensure that it complies with the requirements of the Financial Action Task Force for combating money launder...Published: 15 Mar 2019 at 05:56hrs | 296 | by Staff reporter
Tendai Biti's mischief exposed
The recent summoning of the Reserve Bank Governor, Dr John Mangudya, to appear before the Parliamentary Public Account Portfolio Committee (PAC) has exposed Tendai Biti, the Committee Chairman of usin...Published: 12 Mar 2019 at 22:29hrs | 7318 | by Staff reporter
'Ethanol blending saves Zimbabwe millions'
RESERVE Bank of Zimbabwe governor John Mangudya on Thursday told Parliament that blending of ethanol with fuel has been saving the country millions of dollars.Mangudya had appeared before the ...Published: 11 Mar 2019 at 07:10hrs | 630 | by Staff reporter
South Africa Reserve Bank to be nationalised
President Cyril Ramaphosa's announcement on Thursday that government intends to continue with plans to nationalise the central bank cased "havoc" in dealing rooms, according to Bianca Botes, Corporate...Published: 09 Mar 2019 at 08:03hrs | 1783 | by Staff reporter
Bakers debunk 100% local wheat bread
INDUSTRY experts have roundly discredited the proposal presented to Cabinet last week by a Gweru farmer who claimed that he could produce a standard loaf of bread using locally-produced wheat alone....Published: 08 Mar 2019 at 10:24hrs | 917 | by Staff reporter
Mthuli Ncube hits brick wall on debt clearance plan
FINANCE minister Mthuli Ncube is struggling to nail down the debt clearance roadmap which has been on the table since 2015 to clear urgent US$2,3 billion in arrears before securing game changing new f...Published: 08 Mar 2019 at 10:22hrs | 2412 | by Staff reporter
Name, shame loan defaulters, Biti demands
PARLIAMENT has demanded that Reserve Bank of Zimbabwe (RBZ) governor John Mangudya make public the schedule of beneficiaries whose loans were taken up by the Zimbabwe Asset Management Company (Zamco) ...Published: 05 Mar 2019 at 10:26hrs | 1923 | by Staff reporter
Mangudya turn tables on Biti
Reserve Bank of Zimbabwe Governor, Dr John Mangudya, yesterday exposed former Finance Minister Tendai Biti's hypocrisy after the former Cabinet minister accused Treasury of failing to seek Parliamenta...Published: 05 Mar 2019 at 07:13hrs | 1213 | by Staff reporter
Panonetsa Mangudya humbles Biti
Reserve Bank of Zimbabwe (RBZ) Governor Dr John Mangudya yesterday exposed former Finance Minister Tendai Biti's hypocrisy after the former Cabinet minister accused Treasury of failing to seek Parliam...Published: 05 Mar 2019 at 07:10hrs | 840 | by Staff reporter
Botswana credit line to Zimbabwe unpacked
The $95-million credit line to Zimbabwe is earmarked for the private sector and revival of struggling industries.Although this is a drop in the ocean to what Zimbabwe requires for total recove...Published: 04 Mar 2019 at 07:29hrs | 1005 | by DW
'Sadc should mediate in Zimbabwe crisis'
GERMANY has urged Zimbabwe's neighbours to mediate in the country's political and economic crisis, warning the situation could further destabilise the southern African region.In an interview w...Published: 01 Mar 2019 at 18:39hrs | 913 | by Staff reporter
NOIC seeks US$1,5m for ethanol project
National Oil Infrastructure Company of Zimbabwe (Noic) says it requires about US$1,5 million to complete the construction of its two ethanol storage tanks at its Mabvuku depot in Harare.The fi...Published: 24 Feb 2019 at 06:54hrs | 305 | by Staff reporter
Mnangagwa's gamble works for the economy
Monetary Policy is defined as an attempt to achieve broad economic goals by the regulation of the supply of money. The 2018 Monetary Policy Statement (MPS) was prepared on the narrative that Zimbabwe ...Published: 23 Feb 2019 at 09:09hrs | 9008 | by Dr Masimba Mavaza
Zimbabwe financial markets serene after RBZ's monetary policy measures
MARKETS largely remained unperturbed following monetary policy measures announced this week that saw the central bank abandon its fixed exchange rate management system for a managed floating approach ...Published: 22 Feb 2019 at 09:09hrs | 1978 | by Staff reporter
Zimbabwe banking sector stable, but assets quality deteriorates
ZIMBABWE'S banking sector remained generally stable and adequately capitalised during the year ended December 2018, but the quality of assets deteriorated as reflected by the increase in the average n...Published: 22 Feb 2019 at 09:01hrs | 103 | by Staff reporter
Banking sector profits jump 61%
ZIMBABWE's banking sector has recorded a 61 percent jump in aggregate profits to $390 million for the year ended 31 December 2018 when compared to $242 million in 2017, according to the Reserve Bank o...Published: 21 Feb 2019 at 22:34hrs | 900 | by Staff repprter
African religion comprises of witches, satanists, spiritualists, spirit mediums
African religion comprises of witches, satanists, spiritualists, spirit mediums, healers, kings and queens. While Christianity remains as that or those institutions preaching, teaching and prophesying...Published: 18 Feb 2019 at 14:50hrs | 2884 | by Reginald Thabani Gola
Spiritual significance of lobola/ roora
Calls to abolish the payment of lobola/roora are associated with some feminist perspective, which decries it as the major cause of inequalities between the sexes. Arguments against it are well establi...Published: 18 Feb 2019 at 07:20hrs | 1626 | by Miriam Tose Majome
Banks plunge into fresh crisis
THE Reserve Bank of Zimbabwe (RBZ) shot down an urgent request by commercial banks to raise interest rates and transaction charges at a crisis meeting held in Harare last week, arguing the move would ...Published: 15 Feb 2019 at 14:35hrs | 3158 | by Staff reporter
Zimbabwe pesters South Africa for lines of credit
Zimbabwe's government continues to explore avenues of attracting lines of credit from neighbouring South Africa after the continent's most prosperous nation rebuffed an earlier request by Harare for a...Published: 15 Feb 2019 at 08:26hrs | 385 | by Staff reporter
Mthuli Ncube, Mangudya in bitter fight over new Zimdollar
PRESIDENT Emmerson Mnangagwa has been forced to intervene in a growing turf war between Reserve Bank of Zimbabwe governor John Mangudya and his boss Finance minister Mthuli Ncube on the path Zimbabwe ...Published: 14 Feb 2019 at 15:51hrs | 19914 | by Staff reporter
Loan shark who terrorised fellow Zimbabweans must repay £40,000 or face jail
Loan shark Rita Tahwa has been ordered to repay £40,000 (US$52,000) or face going to jail after she illegally lent money to 100 members of the Zimbabwean community.The 43-year-old started loa...Published: 05 Feb 2019 at 06:36hrs | 1034 | by stokesentinel.co.uk
Mnangagwa sets conditions for dialogue with Chamisa
President Emmerson Mnangagwa, pictured, has denied reports suggesting that all is not well between him and Vice President Constantino Chiwenga, the Daily News can report.Speaking to journalist...Published: 01 Feb 2019 at 14:32hrs | 17742 | by Staff reporter
Mnangagwa never requested Chinese bailout
PRESIDENT Emmerson Mnangagwa has denied approaching his Chinese counterpart Xi Jinping asking for a US$2 billion bailout package on the sidelines of the Forum on China-Africa Co-operation (Focac) in B...Published: 01 Feb 2019 at 14:07hrs | 427 | by Staff reporter
Zimbabwe commercial bank deposits surge 25% to $8 billion
Commercial banks deposits rose by 25% to $8 billion in the first 10 months of last year, data from the central bank has shown.According to the Reserve Bank of Zimbabwe (RBZ)'s monthly review o...Published: 30 Jan 2019 at 08:05hrs | 1197 | by Staff reporter
'Govt subsidies for private players not sustainable'
Government has been warned against clandestine price controls being effected through its stranglehold on foreign currency allocation.Economic analysts said there were companies that were being...Published: 27 Jan 2019 at 19:18hrs | 1354 | by Staff reporter
Re-introducing local currency, not so fast
THE government recently pledged to re-introduce a local currency to replace the current multi-currency regime within 12 months in its efforts to address a mounting economic crisis.Making the a...Published: 25 Jan 2019 at 14:31hrs | 861 | by Tinashe Kaduwo
Katsande swindled PetroZim of $156 000
Catherine Katsande, the PetroZim general manager, has been arrested and is facing charges of fraud after allegedly conniving with Zadzisai Chizema, the Kaltrade Investments manager, in swindling Petro...Published: 25 Jan 2019 at 00:36hrs | 4166 | by Staff reporter
Zimbabwe faces bleak future, claims IMF
Zimbabwe will struggle to get financial support from international financial institutions due to its high debt levels, the International Monetary Fund (IMF) has said.Gerry Rice, the IMF spokes...Published: 21 Jan 2019 at 12:45hrs | 754 | by Staff reporter
Zimbabwe needs peace to develop: IMF
THE International Monetary Fund (IMF) has called for peace in Zimbabwe urging stakeholders to work on developing and implementing policies that will stabilise the economy and promote sustainable and i...Published: 21 Jan 2019 at 08:26hrs | 213 | by Staff reporter
Mnangagwa visits Belarus a country sinking in debt
President Mnangagwa's much publicized trip tom five nations maybe a futile exercise after it has emerged that one of the countries he is visiting Belarus is sinking in bilateral debt it has with Russi...Published: 15 Jan 2019 at 09:37hrs | 1484 | by Mandla Ndlovu
Zimbabwe facing foreign currency shortages, not fuel, says Mnangagwa
News Editor Gift Phiri sits down for a wide-ranging interview with President Emmerson Mnangagwa's spokesperson George Charamba about the stuttering economy and what government is doing to address the ...Published: 13 Jan 2019 at 22:28hrs | 946 | by Staff reporter
Why Dan Tshanda became Bulawayo's darling
WHILE he was never shy to talk about his roots, few knew that Dan Tshanda, the music legend and founder of the music movement known as Splash, was actually of Shona extraction from Zimbabwe.Th...Published: 13 Jan 2019 at 07:48hrs | 1111 | by Bruce Ndlovu
RBZ readies to deliver monetary policy
RESERVE Bank of Zimbabwe Governor Dr John Mangudya is, before the end of this month, expected to present his monetary policy statement with market watchers expecting him to at least dwell on the curre...Published: 13 Jan 2019 at 07:47hrs | 2010 | by Staff reporter
Quick austerity measures to avert imminent economic collapse
Austerity is described as sternness, severity of manner or attitude. In other manner it is described difficult economic conditions created by the Government measures to reduce public expenditure. The ...Published: 11 Jan 2019 at 20:27hrs | 4079 | by Tinashe Eric Muzamhindo
Austerity does not bring prosperity - ED, stop destroying our lives, please!
Ever since the current economic crisis bedeviling Zimbabwe started, sometime around October, the Emmerson Dambudzo Mnangagwa regime has been at pains trying to reassure the nation that they were on to...Published: 09 Jan 2019 at 14:33hrs | 1021 | by Tendai Ruben Mbofana
Chipanga ordered to settle $62,000 bank loan
Former Zanu PF youth leader Kudzanai Chipanga has been ordered to settle a $62 000 debt with CBZ Bank and pay costs of suit to settle a legal wrangle that had dragged on for years.The order, b...Published: 09 Jan 2019 at 11:26hrs | 343 | by Staff reporter
Chipanga ordered to settle $62,000 bank loan
Former Zanu PF youth leader Kudzanai Chipanga has been ordered to settle a $62 000 debt with CBZ Bank and pay costs of suit to settle a legal wrangle that had dragged on for years.The order, b...Published: 09 Jan 2019 at 11:26hrs | 315 | by Staff reporter
ZANU PF Youth leader condemns Youth bank
ZANU PF Secretary for Youth Affairs Lewis Matutu has condemned Empower Bank saying the way that it is being run is not good for youths."Empower Bank is an empowerment tool for young people but...Published: 09 Jan 2019 at 08:07hrs | 2263 | by Mandla Ndlovu
Zimbabwe's muscle-conomics: The Case of Delta and Civil Servants
In a joint press release on January 3 by the central bank and Delta Corporation, whose arm is the country's biggest beverages maker, backtracked on its decision to sell its products in hard currency. ...Published: 04 Jan 2019 at 13:40hrs | 4956 | by Robert Sigauke, Political Commentator, Cape Town
Building Africa's scientific talent
Ten years ago, South African physicist Neil Turok made a bold prediction: the world's next Einstein will be from Africa. A decade later, it is worth considering whether the continent is any closer to ...Published: 01 Jan 2019 at 11:16hrs | 130 | by Daniel Mundeva
Government issues another ethanol licence
Government has issued a third ethanol production licence to a yet to be disclosed company as a way to curb shortages of the blending liquid. This is in light of an increase in fuel consumption...Published: 27 Dec 2018 at 09:08hrs | 4812 | by Staff Reporter
Teachers report loan sharks to Mnangagwa
Troubled escalating deductions on their payslips in an unfavourable economic environment, teachers have handed President Emmerson Mnangagwa a list of 16 loan sharks whom they allege are swindling them...Published: 24 Dec 2018 at 19:54hrs | 1839 | by Staff reporter
5 Ways to finance your construction project
Deciding to construct a building is a big decision. It doesn't matter if you're looking to build a tower block of 50 apartments, your own private castle or even just a straw hut. You'll need planning ...Published: 19 Dec 2018 at 14:45hrs | 2303 | by Staff Reporter
Ole Gunnar Solskjaer named Man Utd caretaker manage
Manchester United have named former player Ole Gunnar Solskjaer as caretaker manager until the end of the season, a day after sacking Jose Mourinho.Solskjaer spent 11 seasons at Old Trafford, ...Published: 19 Dec 2018 at 10:50hrs | 1476 | by BBC
On the recent national budget
Any economy is driven by three industries which are the primary, secondary and tertiary industries. The contribution to economic growth from these industries depends on the level of development of the...Published: 18 Dec 2018 at 09:00hrs | 609 | by Dr. Tutsirai Sakutukwa and Dr. Marshall Makate
US to open $292m Harare embassy in January
The United States of America will officially open its $292 million embassy campus on January 10 and start operating from the site on January 21. It sits on 116-acre site in Bluffhill and will ...Published: 17 Dec 2018 at 20:10hrs | 8818 | by Satff reporter
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