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'Mnangagwa crackdown on money changers futile'
The crackdown on black market currency trading to curb a parallel market blamed for the spike in prices is not enough to address the problem, economists said yesterday.This comes as there has ...Published: 5 hrs ago | 3607 | by Staff reporter
Illicit trade in foreign currency must cease
Recent action by government in which it imposed 10-year custodial sentences on illegal foreign currency dealers was overdue although more should be done to exterminate the practice completely....Published: 15 Nov 2018 at 12:55hrs | 1284 | by Staff reporter
A timeline of how Zimbabwe lost its currency
Today, November 14, marks the 21st anniversary of "Black Friday", the day the Zimbabwe dollar crashed in 1997.We track the Zimdollar's collapse from that fateful November day, and the many des...Published: 14 Nov 2018 at 15:10hrs | 2798 | by newZwire with The Source
Foreign suppliers threaten TelOne services over $18m debt
STATE-OWNED telecoms operator, TelOne, has been threatened with service disruption by critical foreign suppliers, who include West Indian Ocean Cable Company (Wiocc) and China-EximBank, among others, ...Published: 14 Nov 2018 at 05:43hrs | 264 | by Staff reporter
1 year after Mugabe fall, Zimbabwe asks 'What has changed?'
One year ago the unthinkable happened in Zimbabwe: Robert Mugabe fell from power.Tanks rolled in the streets of the capital, Harare, on November 14, 2017, and the military put Mugabe under hou...Published: 12 Nov 2018 at 14:25hrs | 1942 | by AP
Budget should address economic fundamentals, Mthuli Ncube urged
REPRESENTATIVES from various sectors of business have challenged Finance minister Mthuli Ncube to address critical issues such as the budget deficit and currency reforms when he presents the 2019 Nati...Published: 10 Nov 2018 at 11:03hrs | 148 | by Staff reporter
Who's who in Zimbabwe’s cutthroat fuel sector
SIX major oil-importing entities, including the Indigenous Petroleum Association of Zimbabwe (Ipaz), Zuva Petroleum, Puma Energy, Total Zimbabwe, Petrotrade (Pvt) Ltd and Engen Petroleum Zimbawe, are...Published: 09 Nov 2018 at 18:06hrs | 5903 | by Staff reporter
Delta Corporation post $57 million profit in the interim period
DELTA Corporation Limited posted a profit of $57,2 million in the six month period ended September 30, from the $32,3 million recorded last year due to a firm consumer demand. Revenue grew by 37% to $...Published: 09 Nov 2018 at 05:09hrs | 262 | by Staff reporter
Zimbabwe must set a clear development agenda
First and foremost, Zim is poised with toxic politics. We must deal with our politics first before we table economic matters. , it is important to admit that we have a crisis so that whoever comes on ...Published: 07 Nov 2018 at 16:27hrs | 506 | by Tinashe Eric Muzamhindo
Mnangagwa says Mangudya beyond reproach
Despite explosive broadsides being fired at the Reserve Bank of Zimbabwe (RBZ) governor John Mangudya, the 55-year-old neoclassical economist-turned banker will stay on in his job until February 2023....Published: 04 Nov 2018 at 12:43hrs | 3452 | by Staff reporter
Mthuli Ncube's 2% tax ill-thought out, says govt
GOVERNMENT has admitted to not seeing the adverse market effects of its 2% tax on electronic or mobile money transfer transactions, amid revelations that corporate earnings are expected to be weighed ...Published: 04 Nov 2018 at 08:57hrs | 1156 | by Staff reporter
Afreximbank pledges to continue assisting Zimbabwe
AFRICAN Export-Import Bank (Afreximbank) has pledged to continue assisting Zimbabwe meet its financial needs, saying all the loans extended to local entities by the bank have performed to expectation,...Published: 03 Nov 2018 at 12:54hrs | 1079 | by Staff reporter
Zimbabwe gets $1 billion bailout?
The African Export Import Bank (Afreximbank) has extended a $1 billion loan to Zimbabwe to guarantee the convertibility value of Real Time Gross Settlement (RTGS) balances into United States dollars a...Published: 02 Nov 2018 at 15:08hrs | 13656 | by Staff reporter
Renewing Mangudya's term an insult
George Charamba's revelation that John Mangudya's term is about to be renewed is nauseating, cynical, contemptuous, disrespectful and an insult to the suffering masses of Zimbabwe.Charamba is ...Published: 01 Nov 2018 at 12:18hrs | 1636 | by Jacob Mafume, MDC National Spokesperson
MPs roast Mthuli Ncube over cars
FINANCE minister Mthuli Ncube was yesterday cornered by legislators who demanded that government immediately buys them vehicles which they are entitled to.Hurungwe East MP Ngoni Masenda (Zanu ...Published: 01 Nov 2018 at 05:48hrs | 2971 | by Staff reporter
Government urged to set up monetary policy body
ECONOMIST, Mr Eddie Cross, has urged Government to set up a professional monetary policy committee to advise the Reserve Bank of Zimbabwe (RBZ) and guard against financial leakages. The Centra...Published: 01 Nov 2018 at 05:32hrs | 371 | by Staff reporter
Mthuli Ncube splurges $11m on war vets' children
Zimbabwe's cash- strapped government is splashing close to $11 million on school fees for war veterans' children.This comes as government is failing to adequately fund the Basic Education Assi...Published: 30 Oct 2018 at 11:47hrs | 4294 | by Staff reporter
Teachers, Mavhima clash over salaries
Teachers have condemned Primary and Secondary Education minister Paul Mavhima who recently ruled out the possibility of government reviewing teachers' salaries.Addressing members of the Nation...Published: 29 Oct 2018 at 12:32hrs | 2940 | by Staff reporter
'Mnangagwa's government is primitive'
Mthwakazi activist Hloniphani Ncube has said Zanu-PF government is a primitive political organisation which has introduced failed policies leading to the suffering of the Zimbabwean masses.The...Published: 28 Oct 2018 at 14:10hrs | 2742 | by Stephen Jake
Zimbabwe's economic woes self-inflicted
THE Zimbabwean economy is bedeviled with self-inflicted woes.However, the economic tribulations largely emanate from government portfolios and their episodic fiscal blunders.The fiscal...Published: 26 Oct 2018 at 08:43hrs | 796 | by Paddington Masamha
Zimbabwe govt budget deficit to rise to $2,3 billion
GOVERNMENT's budget deficit - which scaled about US$1,4 billion by June - is seen ballooning to US$2,3 billion this year, more than three times the projected figure as authorities fail to rein in spir...Published: 26 Oct 2018 at 08:24hrs | 439 | by Staff reporter
Fierce crackdown on parallel market drops forex rate
A fierce government crackdown on illegal forex dealers, increased electronic surveillance of bank accounts, deployment of state security agents and arrests of individuals suspected to be at the centre...Published: 26 Oct 2018 at 08:13hrs | 6148 | by Staff reporter
Zimbabwe has no option other than a change of govt in order to progress
Let me begin this series of write ups with preamble that governance is not machine management but a human driven process responsive to good decision that minimizes corruption and give eminence to the ...Published: 26 Oct 2018 at 07:24hrs | 1982 | by Andrew M Manyevere
Chamisa statement on the prevailing economic, political and humanitarian situation
Fellow Zimbabweans! 1.1 I have taken time to assess the environment in the country to have a first-hand account of the economic, political and humanitarian situation. Indeed,...Published: 23 Oct 2018 at 14:24hrs | 4568 | by Adv. Nelson Chamisa MDC President
Emergency recovery measures to stop Zimbabwe economic free-fall
This article will be brief and straight to the point. There is no need to continue to pontificate on the political-economy of the country because we all know that after the 30th July elections the eco...Published: 23 Oct 2018 at 14:00hrs | 5130 | by Dr Tapiwa Mashakada
Fuel prices go up again
Cost of fuel prices have gone up for the second time in two months, amid serious shortages of the commodity across the country.A survey by the Daily News yesterday showed that the price for bo...Published: 23 Oct 2018 at 07:06hrs | 5775 | by Staff reporter
High taxes lead to more poverty, underdevelopment
WITH the introduction and effective operation of the 2% tax on cash transfers, the poor households in Zimbabwe will remain in abject poverty.This tax will hit poor households the hardest, as t...Published: 23 Oct 2018 at 06:30hrs | 336 | by David Mhlanga
Mthuli Ncube defends RBZ
FINANCE and Economic Development Minister Professor Mthuli Ncube has refuted allegations that the Reserve Bank of Zimbabwe (RBZ) is at the centre of fuelling parallel market trading in the economy. ...Published: 22 Oct 2018 at 06:27hrs | 1532 | by Staff reporter
RBZ in statutory reserve requirements U-turn
Eight years after the Reserve Bank of Zimbabwe abolished Statutory Reserve Requirements for banks in a move aimed at releasing more funds for lending by the financial sector and lowering interest rate...Published: 21 Oct 2018 at 09:30hrs | 564 | by Staff reporter
Price controls, tinkering with the deck while the titanic is sinking
Zanu PF mediocrity, lack of care for the people of Zimbabwe and their nauseating pursuit of patronage and self-preservation are the reasons of economic collapse in Zimbabwe.An attempt to contr...Published: 19 Oct 2018 at 15:54hrs | 2293 | by Jacob Mafume, MDC National Spokesperson
Mnangagwa's first 50 days: Zimbabwe sinks deeper into abyss
PRESIDENT Emmerson Mnangagwa this week completed 50 days in office, but in that short stint, the negatives have so far outweighed the positives amid indications he faces a herculean task in his bid to...Published: 19 Oct 2018 at 06:56hrs | 3573 | by Staff reporter
ZSE ranked best African market
THE Zimbabwe Stock Exchange (ZSE) has been ranked as the best performing market in Africa in the last five years.The local bourse has intermittently surged on the deterioration of economic fun...Published: 18 Oct 2018 at 15:10hrs | 913 | by Staff reporter
Mthuli Ncube running out of time
AS ZIMBABWE'S economy continues to lurch from one crisis to the other, business leaders and economists say the government is running out of both time and "rope" to turn the situation around.Th...Published: 18 Oct 2018 at 15:06hrs | 3860 | by Staff reporter
Afreximbank confirms $500m facility talks
The African Export-Import Bank (Afreximbank) has confirmed holding talks with a Zimbabwean delegation led by Finance and Economic Development Minister Professor Mthuli Ncube in connection with a $500-...Published: 17 Oct 2018 at 06:27hrs | 677 | by Staff reporter
Biti accuses Mthuli Ncube of failing to grasp elementary economics
FINANCE minister Mthuli Ncube is actively seeking to have the Zimbabwe foreign debt forgiven under the Highly Indebted Poor Countries (HIPC) programme by the International Monetary Fund (IMF), a move ...Published: 16 Oct 2018 at 06:35hrs | 6173 | by Staff reporter
MDC MPs begin Ninth Parly impressively
While it could be too early to judge the performance of legislators in the Ninth Parliament, MDC parliamentarians have had a good start judging from the number of motions they have so far raised in th...Published: 15 Oct 2018 at 12:30hrs | 900 | by Staff reporter
South Africa ready to help Zimbabwe
South Africa is ready to assist Zimbabwe, although the latter is still to approach Pretoria for any assistance.Lindiwe Sisulu, South Africa's International Relations and Cooperation minister, ...Published: 13 Oct 2018 at 14:05hrs | 1427 | by Staff reporter
Zimbabwean economy reflects state of governance
IN 2015, I argued that the economy was Zanu-PF's most virulent opposition.The 2016 introduction of bond notes pegged to the US dollar saw the emergence of a parallel market for foreign exchang...Published: 12 Oct 2018 at 13:47hrs | 3208 | by Brian Kagoro
Chiyangwa's company suffers more loses
Zeco Holdings recorded a negative bottom line of US$67 500 in the six months to June 30 2018 compared to US$754 000 loss in 2017 as revenues failed to cover costs.This was regardless of the gr...Published: 12 Oct 2018 at 13:45hrs | 2991 | by Staff reporter
Zimbabwe currency stabilisation in a year
A Zimbabwean man shows off new bond notes outside a bank in Harare on November 28, 2016. Picture: Philimon Bulawayo/ReutersZimbabwe's currency stability hinges on the country‘s ability to bu...Published: 12 Oct 2018 at 13:45hrs | 3492 | by Staff reporter
Extreme poverty in Zimbabwe hits 79%
MDC-Alliance legislator Tapiwa Mashakada has said the poverty situation in Zimbabwe has reached 79% with the unemployment rate pegged at 95%.Mashakada said this in parliament while moving a mo...Published: 12 Oct 2018 at 07:36hrs | 1108 | by Stephen Jakes
Cash black market to remain firm
Zimbabwe's runaway cash black market is anticipated to remain firm in the wake of a deepening foreign exchange scarcity that saw the United States dollar premium surging to 400 percent as at midday ye...Published: 11 Oct 2018 at 12:38hrs | 3107 | by Staff reporter
Cash black market to remain firm
Zimbabwe's runaway cash black market is anticipated to remain firm in the wake of a deepening foreign exchange scarcity that saw the United States dollar premium surging to 400 percent as at midday ye...Published: 11 Oct 2018 at 12:37hrs | 1558 | by Staff reporter
ZSE market capitalisation breaches $16bn mark
THE Zimbabwe Stock Exchange (ZSE) market capitalisation hit $16,7 billion on Tuesday, about 67% of the gross domestic product, as investors took shelter in equities to escape Zimbabwe's currency crisi...Published: 11 Oct 2018 at 06:39hrs | 493 | by Staff reporter
Mthuli Ncube secures guarantee for RTGS bank balances
GOVERNMENT yesterday claimed it has secured a guarantee from the Afreximbank to ring-fence the estimated $6 billion real time gross settlement (RTGS) bank balances in bank accounts, but critics rounde...Published: 11 Oct 2018 at 06:31hrs | 1856 | by Staff reporter
Govt urged to ring-fence RTGS accounts
GOVERNMENT has been urged to de-dollarise only bank balances built after October 1 when bank accounts were separated into US dollar and real time gross settlement (RTGS) accounts, to protect people's ...Published: 11 Oct 2018 at 06:29hrs | 950 | by Staff reporter
Joram Gumbo refuses to resign
Energy and Power Development minister Joram Gumbo has stuck to his guns, declaring that he will not resign despite pressure from stakeholders peeved by the worsening fuel situation.This follow...Published: 10 Oct 2018 at 15:55hrs | 3379 | by Staff reporter
Sustainable key ideas of resuscitating Zim economy
There is a huge gap between demand and supply. Our economy mainly survive on borrowing and imports. We have imports more than exports and therefore our balance of payments are in red. Zimbabweans must...Published: 10 Oct 2018 at 10:01hrs | 928 | by Tinashe Eric Muzamhindo
Nkosana Moyo offers free advice to Mnangagwa and Mthuli Ncube
Statement on Fiscal and Monetary StatementsThe population is trying to understand what happened on 1st. October. Should they be happy, unhappy or indifferent?As APA and in my own capac...Published: 09 Oct 2018 at 11:58hrs | 19940 | by Nkosana Moyo
Mthuli Ncube must turn up in Parliament
PARLIAMENT is expected to debate several motions to tackle the economy and the high cost of living currently affecting Zimbabweans, which have seen prices of basic commodities skyrocketing.Opp...Published: 09 Oct 2018 at 07:09hrs | 1972 | by Staff reporter
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