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Ministries break public finance regulations
LINE ministries are said to be breaking regulations under the Public Finance Management Act (PFMA), which compel them to submit monthly and quarterly financial statements and reports to appropriate pa...Published: 57 mins ago | 64 | by Staff reporter
174 subscribe to credit registry system
THE credit registry system posted an increase in subscriber numbers to 174 subscribers in the period ended June 30, 2019 from 162 subscribers recorded in September, 2018, the central bank has revealed...Published: 19 Sep 2019 at 08:06hrs | 438 | by Staff reporter
Zapu retiring its old guard
THE opposition Zapu has resolved to retire its entire old guard from top leadership positions to allow for the party's renewal and rebranding exercise following a string of election losses since its r...Published: 17 Sep 2019 at 00:51hrs | 372 | by Staff reporter
Zimbabwe's MPC, RBZ boards face a daunting task
The new Monetary Policy Committee (MPC) and Reserve Bank of Zimbabwe (RBZ) boards face a daunting task in dealing with the country's monetary problems and bring the much-needed stability and confidenc...Published: 13 Sep 2019 at 14:02hrs | 699 | by Staff reporter
Mangudya faces daunting task
RESERVE Bank of Zimbabwe governor John Mangudya will soon present his mid- term Monetary Policy Statement, tasked with introducing a cocktail of measures to instil confidence in the market amid a deep...Published: 13 Sep 2019 at 07:38hrs | 1214 | by Staff reporter
It's time the opposition competed on ideas
A cursory perusal of last week's mainstream and online media publications painted a gloomy picture of the opposition's compound. In one online media story, the MDC leader, Nelson Chamisa is reported t...Published: 10 Sep 2019 at 15:22hrs | 404 | by Nobleman Runyanga
Honeymoon over for anti-Mnangagwa NGOs
The Aid Coordination Policy approved by Cabinet recently, aimed at ensuring consistency and harmonisation of development partners' activities to promote transparency, will not only promote economic gr...Published: 06 Sep 2019 at 07:00hrs | 387 | by Beaven Dhliwayo
First Capital Bank axes 120 workers
FIRST Capital Bank Zimbabwe (FCB), formerly Barclays Bank, has laid off 120 workers as the economic crisis continues to take a toll on the beleaguered financial services sector, NewsDay can exclusivel...Published: 05 Sep 2019 at 08:09hrs | 1192 | by Staff reporter
Mnangagwa to pounce on rowdy fuel dealers
GOVERNMENT is investigating errant fuel dealers who are blending fuel above the recommended ratios of ethanol and gasoline, short-changing consumers in the process.The southern African nation ...Published: 02 Sep 2019 at 07:55hrs | 1419 | by Staff reporter
Micro-finance credit rises 26,4%
CREDIT from micro-finance institutions in the second quarter of 2019 increased by 26,4% to $316,3 million from the previous quarter's $250,1 million due to an increase in productive loans.A Zi...Published: 29 Aug 2019 at 07:40hrs | 666 | by Staff reporter
Dealers told not to over-blend petrol
The Zimbabwe Energy Regulatory Authority (Zera) has warned fuel retailers not to tamper with the quality of the product as the regulator will be conducting quality checks and punish those that will be...Published: 28 Aug 2019 at 07:28hrs | 732 | by Staff reporter
No changes in fuel quality: ZERA
The Zimbabwe Energy Regulatory Authority (ZERA) has dismissed claims that the quality of fuel sold in the country was now weaker, maintaining blending ratio of unleaded petrol with ethanol was consist...Published: 27 Aug 2019 at 21:24hrs | 478 | by Staff reporter
Homelink aims to support start-ups
FINANCIAL services entity, Homelink, says it has come up with a programme to support the growth of micro enterprises as part of its initiative to boost economic growth.The company has come up ...Published: 27 Aug 2019 at 07:44hrs | 884 | by Staff reporter
Exposing government links with mysterious FSG company
It seems Parliament has a knack for asking all the right questions when it comes to Fertiliser, Seed Grain (FSG) private limited. Investigations have revealed that the company is located at number 75a...Published: 26 Aug 2019 at 20:36hrs | 4768 | by Nicholas Ncube
Currency changes choke banks
ZIMBABWE'S banking sector is skating on thin ice due to a illiquidity crunch that has drastically reduced the financial institutions' capacity to lend following the reintroduction of a local currency,...Published: 25 Aug 2019 at 18:51hrs | 802 | by Staff reporter
Govt to guarantee 99-year leases
GOVERNMENT is looking at offering full and partial guarantee to banks for the acceptance of the 99-year lease when farmers access funding this season, as negotiations with the financial institutions t...Published: 22 Aug 2019 at 07:34hrs | 192 | by Staff reporter
Austerity measures: Is Zimbabwe drinking poisoned chalice?
On September 7, 2018, Mthuli Ncube was appointed as Zimbabwe's Finance minister. Being a technocrat he is, his appointment brought a breath of fresh air. At least, Zanu-PF was breaking with its past o...Published: 20 Aug 2019 at 15:18hrs | 412 | by Cliff Chiduku
Zimbabwe judges take former Lesotho Army Commander head on
Zimbabwean judges Charles Hungwe, Moses Chinhengo and Tafuma Mtshiya are part of a group of foreign judges lending their expertise to the Lesotho government in its quest to try double-murder accused f...Published: 16 Aug 2019 at 16:10hrs | 2380 | by Mandla Ndlovu
Mthuli Ncube to establish Offshore Financial Centre in Zimbabwe
Finance and Economic Development Minister Mthuli Ncube says Zimbabwe is "very serious" about establishing an Offshore Financial Centre (OFC) in the country, but analysts say given the country's handli...Published: 16 Aug 2019 at 08:06hrs | 1458 | by Staff reporter
MDC repeats calls for State of Emergency
The opposition MDC has reiterated its call for a state of emergency on the energy crisis affecting the country. In a statement issued by the MDC Secretary for Energy and Power Development Jasm...Published: 15 Aug 2019 at 12:48hrs | 5292 | by Mandla Ndlovu
Technology has transformed financial trading for investors
Whether you are a retail or institutional investor planning to buy equities, property, currencies, commodities or futures in the coming months, technology will play a vital role in your attempts to al...Published: 13 Aug 2019 at 14:34hrs | 758 | by Staff Writer
Judge orders Metbank to pay back $20m to NSSA
Metbank has been ordered to pay back $20 million worth of Treasury Bills to the National Social Security Authority (NSSA), after a judge said the bank's court bid to keep the TBs had come "tumbling do...Published: 05 Aug 2019 at 22:11hrs | 2633 | by newZWire
Sparks fly over NSSA scandal
Former National Social Security Authority (NSSA) board chairman Robin Vela says he will challenge the damning forensic audit report in court claiming that it was part of a witch-hunt.The repor...Published: 04 Aug 2019 at 10:24hrs | 1853 | by Staff reporter
When 'skinning a live snake' is not working
SOON after Fortune Chasi was sworn in as Energy minister in May, he admitted that the country was in a rut. In spelling out his immediate plan to avert power shortages, Chasi vowed to skin a live snak...Published: 30 Jul 2019 at 07:34hrs | 1266 | by Cliff Chiduku
$3 billion corruption while the nation starves
The agriculture sector has become a point of weakness in the Zimbabwean economy where over five million Zimbabweans are food-insecure despite billions public funds being invested in the sector....Published: 25 Jul 2019 at 19:25hrs | 910 | by Rusty Markham
Zimbabwe reels as 18-hr power cuts
For Cosmas Kabondo, the rolling 18-hour power cuts have made life more expensive as his family is scrambling for alternative sources of energy.Zimbabwe's power crisis deepened early this month...Published: 21 Jul 2019 at 10:17hrs | 540 | by Staff rpeorter
Mthuli Ncube needs to work his magic on inflation
ECONOMIC analysts expect Finance and Economic Development Minister Professor Mthuli Ncube to announce new measures to contain and bring Zimbabwe's galloping inflation under control when he presents hi...Published: 21 Jul 2019 at 10:03hrs | 610 | by Staff reporter
Mthuli Ncube doing everything by the book
Zimbabwe's Finance Minister Mthuli Ncube seems to be doing everything by the book as he pursues orthodox economic policy often prescribed by the global "Bretton Woods" lending institutions to try and ...Published: 18 Jul 2019 at 16:48hrs | 4082 | by Reuters
'Zimdollar return will yield stability'
CLOTHING retailer, Edgars Stores Limited, expects the re-adoption of the Zimbabwean dollar as the sole currency of exchange to bring stability in the country's economy.The group has said its y...Published: 18 Jul 2019 at 09:30hrs | 3106 | by Staff reporter
Currency reforms expected to stabilise fuel sector
THE re-introduction of the Zimbabwean dollar is expected to bring stability to the fuel sector as Government tightens fiscal and monetary policies to ease pressure on foreign currency demand, National...Published: 09 Jul 2019 at 07:23hrs | 584 | by Staff reporter
Perverse opulence amid squalor likely to sink Zimbabwe
The late JK Galbraith, an influential economist in the US public sphere more than 60 years ago, described Americans' conspicuous consumption in his book The Affluent Society as "private opulence amids...Published: 05 Jul 2019 at 08:24hrs | 838 | by Staff reporter
Zimbabwe classified as lower-middle income country by World Bank
Zimbabwe has moved up to the lower-middle income category from lower income category under the World Ba...Published: 04 Jul 2019 at 17:32hrs | 2352 | by Ndou Paul
RBZ takes aim at forex speculators
Government says the sharp hike of the overnight bank rate by the Reserve Bank of Zimbabwe to support the domestic currency will discourage borrowing for currency speculation as well as protect the val...Published: 03 Jul 2019 at 08:29hrs | 2689 | by Staff reporter
Huge Zimbabwe oil, gas potential for Invictus, findings show
INVICTUS Energy Limited (IEL) says findings by a United Kingdom-based firm show a potential of 1,3 billion barrels of oil-equivalent, which consists of 200 million barrels of condensate.Natura...Published: 02 Jul 2019 at 08:27hrs | 1442 | by Staff reporter
Currency reforms restore country's sovereign dignity
The Transitional Stabilisation Programme (TSP) has laid the foundation for fiscal consolidation at the same time generating sustainable budget methods. So far, the implementation of the TSP ha...Published: 30 Jun 2019 at 09:03hrs | 181 | by Richard Mahomva
Scrapping of multi-currency regime: The implications
ON Monday, the government announced major changes in the monetary policy of Zimbabwe, highlighted by the ending of a 10-year multi-currency system.Further measures announced include the intend...Published: 26 Jun 2019 at 07:32hrs | 3249 | by Respect Gwenzi
RBZ hikes interest rate to 50%
THE Reserve Bank of Zimbabwe (RBZ) has increased the interest rate on its overnight window to 50 percent per annum from 15 percent in a bid to tame inflationary pressures alongside other measures mean...Published: 26 Jun 2019 at 07:10hrs | 1237 | by Staff reporter
Mthuli Ncube's stroke of genius
Industrialists, labour and economists have thrown their weight behind currency reforms, which culminated in the scrapping of the multi-currency system on local transactions, saying it was a "great mov...Published: 25 Jun 2019 at 07:30hrs | 4544 | by Staff reporter
Zimbabwe's currency reforms dilemma
The Zimbabwean government has indicated that the country will be launching a new currency before the end of 2019. The announcement has caused some confusion amongst businesses and the transacting publ...Published: 17 Jun 2019 at 18:01hrs | 2236 | by Victor Bhoroma
Zimbabwe increases ethanol blending to 20%
GOVERNMENT has increased the mandatory ethanol blending of unleaded petrol from 10 percent to 20 percent with immediate effect. The increase of the ratio of ethanol to unleaded petrol is expec...Published: 08 Jun 2019 at 07:55hrs | 1306 | by Staff reporter
Economy to contract 3,1%
The country's economy is expected to contract 3,1 percent this year as activities remain subdued due to rising inflation and crippling foreign currency shortages, according to the World Bank. ...Published: 07 Jun 2019 at 07:17hrs | 288 | by Staff reporter
Themba Ndlovu, Louis Mhlanga collaborate on new album
YESTERYEAR top musician Themba Ndlovu is set to collaborate with renowned South Africa- based Zimbabwean singer and talented guitarist Louis Mhlanga on his forthcoming album titled Spirits Rejoice, se...Published: 07 Jun 2019 at 07:07hrs | 211 | by Staff reporter
Mthuli Ncube cuts RBZ borrowing
Government seeks to restrict lending from the RBZ to five percent of previous year's revenue as it moves to contain fiscal deficits. Government has been financing its deficit through borrowing...Published: 06 Jun 2019 at 08:28hrs | 2883 | by Staff reporter
Chasi refuse to answer questions about the pricing of ethanol supplied by Billy Rautenbach
ENERGY minister Forune Chasi has refused to answer questions about the pricing of ethanol supplied by business tycoon Billy Rautenbach's Greenfuel, which legislators said was overpriced.Greenf...Published: 02 Jun 2019 at 17:07hrs | 1744 | by Staff reporter
Fuel stabilisation fund on cards
THE Reserve Bank of Zimbabwe (RBZ) will stabilise fuel prices by maintaining the foreign currency exchange rate for fuel for two weeks to minimise price fluctuations. This was said by Energy a...Published: 01 Jun 2019 at 07:40hrs | 387 | 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 | 552 | by Staff reporter
Biti vs Mthuli: Transcript
Finance Minister Mthuli Ncube on Wednesday faced MPs' questions on the economy, in a session marked by a new round of heated policy debate with Tendai Biti, a former Finance Minister.Highlight...Published: 30 May 2019 at 11:13hrs | 11205 | by Hansard
Ndiweni: A goat skinner in the place of a chief
Back in my village, when elders with cotton tuft hair sit to discuss matters of State and governance, among intermittent sips and sniffs, there are those whose contribution is known to stupidly go aga...Published: 28 May 2019 at 07:44hrs | 803 | by Isdore Guvamombe
Mangudya's RBZ in trouble over US$27,5m debt
London-based grain and fertiliser exporter, Holbud Limited, has approached the High Court seeking a court order to register a US$27,5 million arbitral award granted against the Reserve Bank of Zimbabw...Published: 22 May 2019 at 06:16hrs | 1270 | by Staff reporter
Seven things to consider when transacting in Africa
1. Accept the uncertainty and gather knowledgeInvestors in Africa must consider geo-political and economic uncertainty on the continent as well as a ple...Published: 21 May 2019 at 16:26hrs | 703 | by Morne van der Merwe, Managing Partner, and Wildu du Plessis, Head of Africa at global law firm Baker McKenzie in Johannesburg
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