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RBZ adopts market-based exchange rate
THE Reserve Bank of Zimbabwe (RBZ) has adopted a market-determined system for setting exchange rates, with the auction system being replaced by a refined interbank foreign exchange market which connec...Published: 06 Apr 2024 at 08:06hrs | | by Staff reporter
Grain imports into Zimbabwe liberalised
GOVERNMENT has liberalised the importation of grain at household level as part of a raft of measures aimed at mitigating the effects of the El Nino-induced drought and guaranteeing national food secur...Published: 13 Mar 2024 at 05:07hrs | 3 | by Staff reporter
Passport removal could boost Zimbabwe-Botswana trade
The agreement between President Mnangagwa and President Mokgweetsi Masisi of Botswana to allow passport-free travel between Zimbabwe and its western neighbour is a trade masterstroke, a political and ...Published: 18 Dec 2023 at 04:52hrs | | by Staff reporter
Russia ships 23 000t of fertiliser to Zimbabwe
RUSSIA's giant fertiliser manufacturing company, Uralchem Group, is in the process of shipping 23 000 tonnes of humanitarian fertiliser to Zimbabwe to complement the country's efforts to boost food an...Published: 12 Dec 2023 at 05:52hrs | 8 | by Staff reporter
Zimdollar flips to best currency in the world?
The rebound, driven by new rules that require corporate taxes to be settled in the local currency, are seen easing inflation ahead of next month's general elections.In most countries, the curr...Published: 20 Jul 2023 at 17:27hrs | 1 | by Staff reporter
Zimbabwe govt punishes rogue businesses
THE Ministry of Finance and Economic Development has suspended trading licences for 17 pharmacies for violation of the Exchange Control directives and Government policy where they were using speculati...Published: 12 Jul 2023 at 08:16hrs | | by Staff reporter
Zimbabwe is heading towards economic armageddon, says America's Steve Hanke
Steve Hanke, a Professor of Applied Economics at The Johns Hopkins University in Baltimore, USA, has predicted a catastrophic downfall of the Zimbabwean economy describing its trajectory as "heading t...Published: 13 Jun 2023 at 14:29hrs | 1 | by Staff reporter
Zimdollar rescue mission too late
THE surprise move by Zimbabwe's fiscal and monetary authorities to liberalise the foreign exchange policy after months of shillyshallying amid a fixed rate could be a case of closing the stable door a...Published: 12 Jun 2023 at 06:45hrs | 2 | by Staff reporter
Zimdollar nosedives
By close of business on Thursday, soldiers, police, health workers and other civil servants in Zimbabwe went home with the reality that their salaries could barely buy 30 loaves of bread.This ...Published: 09 Jun 2023 at 17:09hrs | | by Staff reporter
Zimbabwe's US$12 billion mining economy on course
ZIMBABWE'S mining industry has registered significant strides towards realising the ambitious US$12 billion milestone by the end of this year, Mines and Mining Development Minister Winston Chitando ha...Published: 01 Jun 2023 at 06:41hrs | | by Staff reporter
Zimbabwe toothpaste maker faces closure
The country's only toothpaste maker - Merken- is in danger of going out of business following the government's decision to allow the unfettered entry of the products it manufactures into the country, ...Published: 28 May 2023 at 08:07hrs | | by Staff reporter
Maize trading liberalised in Zimbabwe
The Zimbabwe Mercantile Exchange (ZMX) will begin trading maize on the commodities market after the Government liberalised the trading in the strategic grain.ZMX contends the development would...Published: 12 May 2023 at 06:01hrs | 1 | by Staff reporter
Reserve Bank of Zimbabwe slashes policy rate
THE Reserve Bank of Zimbabwe (RBZ) yesterday slashed its policy rate further to 140%. The policy rate had been pegged at 150% at the beginning of the year, from 200% before.Analysts said the m...Published: 31 Mar 2023 at 17:55hrs | | by Staff reporter
'Mnangagwa's govt likely to print money to fund deficit'
ONE of Zimbabwe's top financial institutions, FBC Holdings Limited (FBC) says the 2023 National Budget announced last week will likely be funded by money printing, amid dwindling revenue options for T...Published: 29 Nov 2022 at 05:21hrs | | by Staff reporter
Zimbabwe must step up to increase exports, says UK
THE United Kingdom (UK) embassy said Zimbabwe could boost its exports to the European country through the Economic Partnership Agreement (EPA), but said it needed to step up.The British head o...Published: 19 Sep 2022 at 06:06hrs | 1 | by Staff reporter
Cartels, manipulators on the radar
Cartels and those that collude to unjustifiably increase prices, engage in illegal dealings and manipulating the local currency for their benefit have been put under the microscope, President Mnangagw...Published: 13 Aug 2022 at 07:22hrs | | by Staff reporter
Biti challenges Minister on ‘one man and his wife' dominating ZBC news daily
CITIZENS Coalition for Change (CCC) Harare East Tendai Biti on Tuesday challenged the government on ZBC's compliance with the Constitutional obligation for impartiality and diversity of views in its n...Published: 21 Jul 2022 at 06:47hrs | 5 | by Staff reporter
Public transport system normalises?
THE public transport system has improved after the Government liberalised the sector while Zupco contracted private companies with kombis and increased their daily payments by over 100 percent....Published: 17 May 2022 at 06:31hrs | | by Staff reporter
Mangudya improves in key global central bankers ranking table
RESERVE Bank of Zimbabwe governor John Mangudya has improved in the authoritative global central bankers performance indicators and ranking list by American magazine Global Finance as he graduated wit...Published: 15 Jan 2022 at 15:02hrs | 1 | by Staff reporter
Sustainable reforms now key to foreign exchange market
The Reserve Bank of Zimbabwe (RBZ) recently announced that it is on course to clear the backlog of foreign exchange auction allotments which date back to as far as three months and amounting to about ...Published: 08 Oct 2021 at 19:03hrs | 8 | by Victor Bhoroma
CEOs mount plan for US$3,2 trillion bloc
ZIMBABWEAN CEOs last week urged domestic industries to mount aggressive strategies to unlock big opportunities brought by January's launch of the African Free Trade Area (AfCFTA), a US$3,2 trillion ma...Published: 04 Oct 2021 at 05:53hrs | | by Staff reporter
Who is causing parallel market rates to spike?
FOR the past 18 months, Zimbabwe's economy has been on a rebound, assisted by a stronger performance in the agricultural and mining sectors, an improved balance of payments and external sector p...Published: 30 Sep 2021 at 07:20hrs | 2 | by Dr Tim Rainhard
Who is causing parallel market rates to spike?
For the past 18 months, the country's economy has been on a rebound, assisted by the stronger performance in the agricultural and mining sectors, an improved balance of payments and external sector po...Published: 23 Sep 2021 at 19:35hrs | | by Dr Tim Rainhard
Tagwirei linked companies cited in US$49m privatisation deal
AS Treasury maintains a tight lid over the identity of gold producers who snapped 60% shareholding in Fidelity Printers and Refiners (FPR), emerging details show that Kuvimba Mining House, Better Bran...Published: 20 Aug 2021 at 07:22hrs | | by Staff reporter
Has the Zimbabwe dollar really stabilised against the US unit?
There is a strong debate among economic analysts pertaining to whether the Zimbabwean dollar (ZW$) has stabilised against the American dollar (US$) or not. There is a section which believes that the l...Published: 18 Jun 2021 at 13:00hrs | | by Respect Gwenzi
What are we really worth?
Recently I had breakfast with three friends and we were charged at the rate of ZW$115 to US$1 for our food, which was priced in US dollars.later I had coffee with another group of friends and ...Published: 28 May 2021 at 08:06hrs | | by Eddie Cross
The paradox of Zimbabwe's rising prices and falling inflation
FOLLOWING months of scepticism over Zimbabwe's ability to achieve its targeted annual inflation rate, some of the country's leading analysts are beginning to change theirview.Now, they fee...Published: 03 May 2021 at 06:24hrs | 1 | by Staff reporter
Private sector-led growth
Two years ago, the new Minister of Finance in Zimbabwe, Mthuli Ncube brought together a small group of local business persons in an informal advisory group.I was privileged to be included. our...Published: 01 Apr 2021 at 07:23hrs | | by Eddie Cross
Zimdollar to remain stable
TWO years ago, the new Minister of Finance in Zimbabwe brought together a small group of local business persons in an informal advisory group. I was privileged to be included.Our meetings were...Published: 29 Mar 2021 at 18:10hrs | | by Eddie Cross
Zera board flies into fuel storm
THE new Zimbabwe Energy Regulatory Authority (Zera) board received a baptism of fire at its first meeting with oil firms on February 18, as indigenous operators rejected a requirement to raise a ZW$30...Published: 05 Mar 2021 at 06:59hrs | | by Staff reporter
'Forex enough to stabilise rate'
The exchange rate of the Zimbabwean dollar against the US dollar will continue to hold steady on the weekly auction market because the country is earning enough forex to support critical imports, the ...Published: 12 Feb 2021 at 05:34hrs | | by Staff reporter
AfCFTA will launch Africa forward post Covid-19
THE African Continental Free Trade Area (AfCFTA) was established in 2018 with the aim to create a single market for goods and services, facilitated by movement of persons to deepen the economic integr...Published: 31 Jan 2021 at 10:03hrs | | by Admire Maparadza Dube
Rushwaya arrest: A case of rampant elite corruption?
THE ongoing trial of Henrietta Rushwaya over charges of attempting to smuggle gold bars weighing 6kg to Dubai, the United Arab Emirates, in a high-profile case that has sucked in President Emmerson Mn...Published: 06 Nov 2020 at 06:51hrs | 1 | by Staff reporter
Zimbabwe industry demands complete reforms
ZIMBABWE'S industry has proposed a raft of far-reaching reforms to be incorporated in Finance minister Mthuli Ncube's 2021 national budget, including the abolishment of subsidies.In its propos...Published: 15 Oct 2020 at 06:42hrs | 1 | by Staff reporter
Full house at Mnangagwa's SA dinner
PRESIDENT Mnangagwa has implored foreign investors to consider investing in Zimbabwe saying the country was now ready for take-off following nearly two decades of isolation. The country has be...Published: 06 Sep 2019 at 07:03hrs | | by Staff reporter
Zimbabwe ready for take off, says President
PRESIDENT Mnangagwa has implored foreign investors to consider Zimbabwe, saying the country was now ready for take-off following nearly two decades of isolation. Zimbabwe has been reeling under sancti...Published: 06 Sep 2019 at 06:55hrs | 1 | by STaff reporter
Mnangagwa pledges economic reforms
President Emmerson Mnangagwa yesterday assured the world that his government would institute more economic reforms in order to make Zimbabwe a safe, favourable and competitive investment destination....Published: 29 Aug 2019 at 07:44hrs | | by Staff reporter
No double standards for rule of law, Mnangagwa declares
Zimbabwe will not bend the law to please the opposition and its sympathisers who are supporting the recent attempts to embark on illegal protests, President Mnangagwa has said. Western embassi...Published: 29 Aug 2019 at 07:34hrs | | by Staff reporter
Basic commodity prices up
RETAILERS have increased prices of basic commodities again despite stability in the exchange rate and a consumer outcry over erosion of disposable incomes. A snap survey conducted in Bulawayo ...Published: 29 Aug 2019 at 07:33hrs | | by Staff reporter
Zimbabwe now ripe for investment
President Mnangagwa yesterday told the high-level Tokyo International Conference on African Development (TICAD) that his administration is committed to comprehensive economic reforms and making the co...Published: 29 Aug 2019 at 07:32hrs | | by Staff reporter
'New Zimdollar not priority,' says Mthuli Ncube
Finance and Economic Development Minister Professor Mthuli Ncube said on Tuesday Government was not in a hurry to issue new Zimbabwean dollar notes/coins, but rather focused on the need to replace soi...Published: 22 Aug 2019 at 07:36hrs | | by Staff reporter
Mnangagwa admin scores high on investment drive
THE Government's decision to rescind indigenisation laws which made the country unpleasant to foreign direct investment has seen the drive to attract investment registering significant gains, Presiden...Published: 12 Aug 2019 at 07:54hrs | | by Staff reporter
'Jealously guard and defend our peace'
Address by his Excellency President Mnangagwa marking his first elective year in office, 30th July 2019. This month marks one year since our watershed d...Published: 10 Aug 2019 at 08:49hrs | | by President Mnangagwa
RBZ liberalises fuel imports
Foreign currency-starved Zimbabwe has liberalised fuel imports by allowing authorised dealers to pay directly to foreign fuel suppliers upon exchange control approval in a move meant to ease pre...Published: 29 Jul 2019 at 14:46hrs | | by Staff reporter
Chasi to revoke license of dormant IPPs
THE Government will consider revoking licences of Independent Power Producers failing to kick start their projects as it moves to reduce the power deficit grappling the country, a Cabinet Minister has...Published: 07 Jul 2019 at 21:05hrs | 1 | by Staff reporter
Zimbabwe dollar strengthens in parallel market
For Zimbabwe President Emmerson Mnangagwa, the re-introduction of the country's currency after a decade of US dollar dominance marks a return to normalcy.To many others, however, it heralded u...Published: 06 Jul 2019 at 10:32hrs | 1 | by The East African
Introduction of Zimdollar to sink economy, say analysts
THE decision by government this week to abolish the multi-currency regime and re-introduce the Zimbabwean dollar as the sole legal tender could be catastrophic as the local currency's value may tumble...Published: 30 Jun 2019 at 09:05hrs | | by Staff reporter
Mnangagwa to donate animals to Angola
THE Government will donate an undisclosed number of wild animals to Angola to help the country rebuild its wildlife which was ravaged by decades of war, President Mnangagwa has said. Addressin...Published: 26 Jun 2019 at 07:09hrs | | by Staff reporter
Mnangagwa, Mthuli Ncube must 'unscramble the egg and go back to the basics'
I THOUGHT we had seen everything that this country of ours could throw at us, but the situation right now looks like nothing we have seen before.Prices have quadrupled and continue to rise ine...Published: 21 Jun 2019 at 07:26hrs | | by Eddie Cross
'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 | | by Staff reporter
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