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Time Bank offers war vets US$3,5bn
TIME Bank has offered a US$3.5 billion compensation package to Zimbabwe's liberation war veterans as part of its broader US$38 billion loan proposal to the government. This development follows signifi...Published: 14 Dec 2024 at 12:33hrs | 388 | by Staff reporter
RBZ deputy governor says Zimbabwe banking sector is resilient, stable
Reserve Bank of Zimbabwe (RBZ) Deputy Governor, Innocent Matshe, has highlighted the continued resilience and stability of the country's banking sector, despite facing challenges such as liquidity iss...Published: 13 Dec 2024 at 09:36hrs | 81 | by Staff reporter
Zimbabwe's Banking Sector and No Arrests Years Down the Line
United Merchant Bank (UMB) - Closed in 1998 due to insider loans and mismanagement.Universal Merchant Bank (UMB) - Closed in 2003 struggled with negative perceptions after UMB's collapse....Published: 05 Dec 2024 at 20:15hrs | 296 | by Engineer Jacob Kudzayi Mutisi
Zimbabwe's banking sector and no arrests years down the line
United Merchant Bank (UMB) - Closed in 1998 due to insider loans and mismanagement.Universal Merchant Bank (UMB) - Closed in 2003 struggled with negative perceptions after UMB's collapse....Published: 05 Dec 2024 at 09:07hrs | 606 | by Eng. Jacob Kudzayi Mutisi
How Zimbabwe's ruling elite fund their luxuries at the expense of ordinary citizens
They live a tax-free lifestyle, do not pay duty to import vehicles and yet they introduce a new tax every year to fund their luxurious lifestyle. In Zimbabwe, the stark contrast between the lifestyles...Published: 29 Nov 2024 at 12:38hrs | 820 | by Jacob Kudzayi Mutisi
US wants Zimbabwe to double down on reforms
The United States is urging the Zimbabwe government to double down on reforms aimed at returning the country to the prosperity it once enjoyed.Speaking to reporters in Harare on Monday, Pamela...Published: 26 Nov 2024 at 08:20hrs | 942 | by Staff reporter
Zimbabwe's new land tenure system to tighten agricultural land ownership
Zimbabwe is crafting a new land tenure system that will require Government approval for selling or transferring agricultural land, aiming to enhance the bankability of titles and secure broader owners...Published: 24 Nov 2024 at 10:03hrs | 220 | by Staff reporter
Zimbabwe banking sector strengthens amid declining non-performing loans
The Reserve Bank of Zimbabwe (RBZ) has reported a significant improvement in the country's banking sector credit risk landscape, marked by a decrease in the ratio of non-performing loans (NPLs) to tot...Published: 24 Nov 2024 at 09:55hrs | 76 | by Staff reporter
Mnangagwa gets Commonwealth leaders support in bid to rejoin bloc
PRESIDENT Emmerson Mnangagwa's efforts to get Zimbabwe back into the Commonwealth are being backed by the grouping's secretary general, Patricia Scotland, who believes he has done enough to warrant a ...Published: 21 Nov 2024 at 06:38hrs | 613 | by Staff reporter
EcoCash Holdings posts strong profit growth in half-year results
EcoCash Holdings Zimbabwe Limited has posted impressive results for the half-year ending August 31, 2024, highlighting the resilience of its business model and the effectiveness of its strategic initi...Published: 21 Nov 2024 at 06:21hrs | 33 | by Staff reporter
Paid an arm and leg for Hwange Unit 7 & 8 and yet they not generating - Chinese demanding head in a silver platter!
ZESA's explanation of reduced generation from Hwange Thermal Power Station especially due to repeated Units 7 and 8 did not make any sense at all. The two units costing US$ 1.4 billion were commission...Published: 20 Nov 2024 at 21:17hrs | 2642 | by Wilbert Mukori
NMBZ turns to Rabobank for agric financing
NMBZ Holdings Limited, a leading financial services group, has announced a strategic partnership with Rabobank, a Dutch multinational specializing in banking and financial services, to implement an en...Published: 19 Nov 2024 at 08:49hrs | 219 | by Staff reporter
Fired BancABC managers threaten to wash 'dirty linen' in public
A bitter and escalating dispute between dismissed BancABC managers and the bank's leadership is threatening to destabilize one of Zimbabwe's leading financial institutions. The conflict, which involve...Published: 10 Nov 2024 at 11:04hrs | 1486 | by Staff reporter
Hackers gain access to financial information for a large number of South Africans
Attackers claiming to be from N4ughtySec, a cyber extortion gang that took responsibility for an attack on TransUnion in March 2022, have said that they have infiltrated most of South Africa's banks....Published: 03 Nov 2024 at 12:46hrs | 929 | by Staff reporter
Manager in court over ghost workers
Tinashe Madzima, a human resources manager at Livetouch Investments Private Limited, appeared in court on Tuesday facing fraud charges after allegedly creating fictitious employee accounts to defraud ...Published: 31 Oct 2024 at 06:50hrs | 667 | by Staff reporter
Willowgate linked minister in another scandal involving 'stolen' millions
The High Court has mandated Public Service, Labour and Social Welfare Minister July Moyo and Higher and Tertiary Education Minister Fredrick Shava, who is linked to the Willowgate motor scandal, to re...Published: 30 Oct 2024 at 07:56hrs | 703 | by Staff reporter
Reasons why South Africans treat the 13 digit ID number like a qualification
South Africa's green ID book has been used as the country's main identity document for 44 years, during which time it has only received a handful of minor security upgrades. Blacks only started using ...Published: 29 Oct 2024 at 14:20hrs | 1623 | by Staff reporter
Mnangagwa's govt in soup over unsanctioned US$500m 'loan'
A local citizen, Marvelous Khumalo, has taken the Zimbabwean government to court, demanding the repayment of over half a billion United States dollars allegedly misappropriated through unauthorized bo...Published: 29 Oct 2024 at 07:44hrs | 1115 | by Staff reporter
The real story behind Britain's withdrawal from Zimbabwe's land reform: Exposing corruption and mismanagement
AS SOUTHERN Africa approaches another 'SADC Anti-Sanctions Day,' the Zimbabwean government is once again amplifying the narrative that economic sanctions, particularly from Western countries like the ...Published: 23 Oct 2024 at 20:37hrs | 855 | by Tendai Ruben Mbofana
Zimbabweans slam US Embassy for downplaying impact of sanctions
Zimbabweans and international supporters have expressed outrage over the US Embassy's recent claims regarding the effects of sanctions on the country, demanding that the "illegal coercive measures" be...Published: 21 Oct 2024 at 14:16hrs | 583 | by Staff reporter
Ex-top Zimbabwe govt official accused of grabbing farm equipment
Former diplomat and ex-permanent secretary Joey Bimha is embroiled in a legal dispute concerning allegations of improperly seizing farming equipment from his former business partner, Sebastian Hugh Zi...Published: 20 Oct 2024 at 14:14hrs | 4435 | by Staff reporter
Mnangagwa headlines Anti-Sanctions Day commemorations
Zimbabwe will commemorate the fifth anniversary of the Southern African Development Community (SADC) Anti-Sanctions Day on Friday, with President Emmerson Mnangagwa, as the chairperson of the regional...Published: 20 Oct 2024 at 12:16hrs | 80 | by Staff reporter
NRZ struggles amid sanctions, as revival efforts falter
In its prime, the National Railways of Zimbabwe (NRZ) was the backbone of the nation's transport system, transporting passengers across the country and facilitating the movement of goods beyond Z...Published: 19 Oct 2024 at 12:07hrs | 139 | by Staff reporter
Zimbabwe's resilience: A nation's ability to overcome economic challenges, from sanctions to currency instability
For over two decades, Zimbabwe has been a nation under siege. Economic sanctions, imposed primarily by the United States and its Western allies, have crippled the country's economy, creating one of th...Published: 18 Oct 2024 at 11:56hrs | 156 | by Michael Badze
Zimbabwe paying Ian Smith regime debt used for fighting liberators
Zimbabwe has been burdened with a staggering $700 million debt incurred during the Ian Smith regime, primarily used for purchasing weapons to suppress liberation efforts, according to researcher and A...Published: 18 Oct 2024 at 10:25hrs | 913 | by Staff reporter
Of all the don'ts, send Mnangagwa begging UNGA for US$5.8b food aid for SADC; he's eyeing 'pound of flesh' cut for himself
Of all the SADC leaders to be begging for food aid on behalf of SADC, Emmerson Mnangagwa would be the last leader anyone would choose to do it!"President Emmerson Mnangagwa has taken the...Published: 17 Oct 2024 at 12:38hrs | 721 | by Wilbert Mukori
Matebeleland South tops in diaspora remittances
Matebeleland South province has emerged as the top region in Zimbabwe for households receiving remittances or gifts from abroad, primarily due to a significant number of its youth migrating to South A...Published: 14 Oct 2024 at 08:52hrs | 708 | by Staff reporter
Zimbabwe's new land tenure policy is unconstitutional and invalid
A few days ago, the government of Zimbabwe announced some major changes to its land tenure laws.According to information minister Jenfan Muswere, "All land held by beneficiaries of the Land Re...Published: 11 Oct 2024 at 08:30hrs | 881 | by Tendai Ruben Mbofana
'Zimbabwe's new land laws biggest heist'
Former Cabinet minister Walter Mzembi has raised concerns over a possible land grab by Zimbabwe's elite following the government's announcement of a new model that allows for land acquired under the l...Published: 10 Oct 2024 at 07:50hrs | 1237 | by Staff reporter
7 countries at risk of bankruptcy
About seven developing countries are currently in danger of facing bankruptcy or in need of a bailout due to piling debt which is slowly gearing towards a default level.Countries can file for ...Published: 09 Oct 2024 at 07:16hrs | 655 | by Staff reporter
Zimbabwe permits resettled farmers to sell land
Zimbabwe's government announced a major shift to its land policy on Tuesday, allowing beneficiaries of its land reforms to sell or transfer their farms - but only to "indigenous Zimbabweans."M...Published: 08 Oct 2024 at 19:46hrs | 6197 | by Staff reporter
Zimbabwe working on land tenure reforms
In a major development aimed at empowering farmers, the Government has announced plans to issue bankable and transferable land tenure documents to all beneficiaries of the Land Reform Programme. The i...Published: 08 Oct 2024 at 19:14hrs | 338 | by Staff reporter
Zimbabwe govt gets thumbs up for DBOT for roadworks
Economists have asserted that adopting the Design, Build, Operate, and Transfer (DBOT) model for road infrastructure development in Zimbabwe is crucial to curbing corruption and ensuring quality workm...Published: 04 Oct 2024 at 08:46hrs | 6155 | by Staff reporter
Zimbabwe bankers warn of price increases
Bankers in Zimbabwe are raising alarms about potential price increases and shortages of basic commodities following the recent devaluation of the Zimbabwe Gold (ZiG) by over 40% by the Reserve Bank of...Published: 03 Oct 2024 at 08:56hrs | 299 | by Staff reporter
BAZ, central bank meet over policy interventions
The Bankers Association of Zimbabwe (BAZ) held a crucial meeting with the Reserve Bank of Zimbabwe (RBZ) governor, Dr. John Mushayavanhu, on Monday to address key policy changes from the Monetary Poli...Published: 03 Oct 2024 at 08:44hrs | 56 | by Staff reporter
Zimbabwe resumes war victims' compensation after 26 years
The Minister of Veterans of the Liberation Struggle Affairs, Monica Mavhunga, has announced the resumption of compensation payments for war victims, marking a major step in supporting Zimbabwe's liber...Published: 28 Sep 2024 at 12:12hrs | 405 | by Staff reporter
Of all the don'ts, send Mnangagwa begging UNGA for US$5.8b food aid for SADC; he’s eyeing 'pound of flesh' cut for himself
Of all the SADC leaders to be begging for food aid on behalf of SADC, Emmerson Mnangagwa would be the last leader anyone would choose to do it!"President Emmerson Mnangagwa has taken the...Published: 27 Sep 2024 at 23:01hrs | 765 | by Wilbert Mukori
RBZ raises bank policy rate to 35%
The Reserve Bank of Zimbabwe (RBZ) has announced significant measures to tackle resurgent exchange rate volatility and mitigate inflationary pressures. Effective immediately, the bank policy rate has ...Published: 27 Sep 2024 at 15:29hrs | 1316 | by Staff reporter
William Ruto visits Germany: German press rebukes his claims about labour contracts.
It does not matter how one looks at this story; it is not only shameful to Kenya: it must shame all Africans equally. Recently, President Willian Ruto was on a state visit to Germany, and was proud to...Published: 17 Sep 2024 at 22:06hrs | 795 | by Nomazulu Thata
Bulawayo schools to apply for loans
Bulawayo City Council has given the green light to a new policy allowing its schools to seek loans for developmental projects, provided they cover 60% of the project costs themselves. This decision ai...Published: 16 Sep 2024 at 08:14hrs | 244 | by Staff reporter
'Zimbabwe army conditions of service in bad state'
The government has acknowledged that the working conditions for the uniformed forces, particularly the Zimbabwe National Army (ZNA), have become dire. Deputy Defence Minister Levi Mayihlome made this ...Published: 14 Sep 2024 at 12:21hrs | 323 | by Staff reporter
90% of Zimbabwe adults in the informal sector
Millions of adult Zimbabweans have been driven into the informal business sector due to the declining formal market, according to a recent statement from the Coalition for Market and Liberal Solutions...Published: 11 Sep 2024 at 08:53hrs | 165 | by Staff reporter
Ramaphosa's GNU partner suggests scrapping BEE
The Freedom Front Plus has urged the removal of Black Economic Empowerment (BEE) and Affirmative Action (AA) policies, arguing that they are detrimental and obstruct economic growth.The party ...Published: 07 Sep 2024 at 12:46hrs | 924 | by Staff reporter
The day Sadc failed
THREE weeks ago, the regional bloc,Southern African Development Community (Sadc), hosted the 44th summit in Harare.The summit saw Zimbabwe becoming the chair of the region for the next...Published: 07 Sep 2024 at 10:12hrs | 220 | by Paidamoyo Muzulu
Zimbabwe industries buckle under prohibitive power tariffs
Zimbabwe's industries have been severely affected by a sharp power tariff hike implemented in November, leading to a 15% rise in costs for mines and disrupting various sectors. The 44% tariff ...Published: 06 Sep 2024 at 14:45hrs | 115 | by Staff reporter
Zimbabwe banks reduce lending as crisis persists
Zimbabwe's banking sector is facing significant challenges that have limited its ability to lend, according to the Bankers Association of Zimbabwe (BAZ). Key issues include the absence of a le...Published: 06 Sep 2024 at 14:41hrs | 201 | by Staff reporter
Building a formidable business amid economic downturns
Businesses face declines in sales and profits during economic downturns. While some businesses during this period fail, some do not only thrive but instead become more formidable. Many of the ...Published: 29 Aug 2024 at 16:01hrs | 158 | by Staff Reporter
On the Money: How Old Mutual is empowering Zimbabwe's farmers
As the Zimbabwe Agricultural Show kicks off under the theme "Cultivating Prosperity. Growing Business. Innovation for Change. Nurturing our Future," a critical component of this year's event is the fi...Published: 29 Aug 2024 at 15:55hrs | 237 | by Staff Reporter
Mashonaland's new city takes shape
The Government of Zimbabwe has commenced servicing land in Mt Hampden, where the new commercial and administrative capital will be established. This follows the recent repossession of 47 farms coverin...Published: 25 Aug 2024 at 11:18hrs | 750 | by Staff reporter
Driver defrauds InnBucks of US$13,700
Cleopas Chisingarambwe, a part-time driver for Abro Coaches, appeared in the Harare Magistrates Court on charges of defrauding InnBucks MicroBank of US$13,700. Magistrate Dennis Mangosi re...Published: 22 Aug 2024 at 07:19hrs | 3779 | by Staff reporter
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