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Chiwenga warns Innscor
A TENSE meeting between President Emmerson Mnangagwa and Innscor Africa shareholders over allegations of fuelling currency volatilities rocking the market had a chilling effect after Vice-President Co...Published: 12 Aug 2022 at 20:21hrs | 966 | by Staff reporter
Zimbabwe to release smaller gold coins
Smaller Zimbabwean gold coins, as small as a tenth of an ounce, are expected to go on sale in November from the Reserve Bank of Zimbabwe so ordinary people can invest in them and store value for their...Published: 12 Aug 2022 at 06:35hrs | 748 | by Staff reporter
Zimbabwe's cash-rich govt suppliers fuel currency volatility
GOVERNMENT procurement and service providers - who include public works contractors and suppliers of goods and services - are destabilising the foreign exchange market by offloading part of their stag...Published: 10 Aug 2022 at 08:40hrs | 1202 | by Staff reporter
'Zimbabwe's bigwigs living lavishly as ordinary citizens starve'
HUMAN rights organisations have red-flagged the lavish lifestyles of the elite in the country at a time when ordinary citizens are struggling to put food on the table due to a faltering economy....Published: 04 Aug 2022 at 06:48hrs | 2773 | by Staff reporter
Zimbabwe banks run out of gold coins
DEMAND for the new Zimbabwean gold coins has been overwhelming and banks have been inundated by their corporate and individual customers seeking a legal and sensible way of preserving value.Th...Published: 01 Aug 2022 at 06:35hrs | 7176 | by Staff reporter
Zimbabwe developing a new US$60bn capita city
Plans to develop Zimbabwe's new capital city in Mt Hampden are gathering momentum, with a masterplan for the multi-billion-dollar ultra-modern development now complete.The US$60 billion metrop...Published: 31 Jul 2022 at 08:10hrs | 16590 | by Staff reporter
Zimbabwe to host high-level forum on debt resolution
The Zimbabwean government said Thursday it will soon host a high-level debt resolution forum with development partners and other stakeholders aimed at building consensus among stakeholders on resolvin...Published: 29 Jul 2022 at 06:56hrs | 500 | by Staff reporter
No joy in Mthuli Ncube's budget
CALLS by Zimbabwe's restive civil service for United States dollar salaries went unheeded by Finance minister Mthuli Ncube yesterday.Ncube doubled the national budget to $1,9 trillion as a res...Published: 29 Jul 2022 at 06:54hrs | 2983 | by Staff reporter
Africanise the law and land
In Mzansi, most citizens can only own real estate when they are dead - their graves and tombstones if they can afford one. From the living majority, they become the silent majority.Throughout ...Published: 27 Jul 2022 at 19:29hrs | 378 | by Lindiwe Sisulu
Power imports cost Zesa US$17m monthly
THE Zimbabwe Electricity Supply Authority (Zesa) requires US$17 million per month for power importation to augment local supplies which are set to receive a major boost with coming on line of Hwange u...Published: 27 Jul 2022 at 06:27hrs | 282 | by Staff reporter
Harare-Beitbridge highway project: A new big step in the right direction
AS we turn right off the Harare-Beitbridge highway - just before the intersection of the Harare and Bulawayo arteries five kilometres north of Beitbridge Border Post on the banks of the Limpopo River ...Published: 25 Jul 2022 at 07:57hrs | 1073 | by Staff reporter
Why is Zimbabwe starving?
LONG-STANDING financial troubles and drought in Zimbabwe have pushed millions to the brink of starvation.Government has declared a state of disaster as months of drought have exacerbated a nat...Published: 22 Jul 2022 at 06:43hrs | 761 | by Claire Felter
Stanbic Bank assists more than 600 individuals and companies with residential and commercial property needs
Leading financial services institution, Stanbic Bank Zimbabwe has assisted over 600 individuals and corporates acquire residential and commercial properties over the last year as part of its efforts t...Published: 20 Jul 2022 at 21:49hrs | 581 | by Agencies
Errant contractors face blacklisting
Firms using money they earn from Government contracts to deal in the foreign currency black market will be blacklisted from future contracts, have the proceeds of illegal transactions confiscated, the...Published: 19 Jul 2022 at 06:07hrs | 152 | by Staff reporter
Zimbabwe's construction boom chokes suppliers
ZIMBABWE is experiencing a massive boom in housing construction spearheaded by the Government and private developers, which has choked supplies of critical raw materials with suppliers now struggling ...Published: 18 Jul 2022 at 08:25hrs | 437 | by Staff reporter
Obert Mpofu faces hefty bill
Zanu-PF secretary for administration Obert Mpofu and his wife Sikhanyisiwe have finally vacated Esidakeni Farm in Nyamandlovu near Bulawayo following a scathing Supreme Court ruling which condemned th...Published: 17 Jul 2022 at 09:40hrs | 6179 | by Staff reporter
Mnangagwa relives 2017 'ice cream' horror
President Mnangagwa yesterday opened up on his infamous Gwanda poisoning incident in 2017, saying the medical treatment that saved his life after being airlifted to South Africa inspired his mantra th...Published: 16 Jul 2022 at 10:29hrs | 4383 | by Staff reporter
'RBZ risks litigation over rates'
THE Reserve Bank of Zimbabwe (RBZ) violated the in duplum rule by increasing the bank interest rate to 200% from 80% with indications that the market could be bracing for more economic shocks and liti...Published: 15 Jul 2022 at 09:12hrs | 786 | by Staff reporter
Zesa, Zesco stitch power deal
POWER utility Zesa Holdings is in discussions with its Zambian counterpart, Zesco for importation of 100 megawatts of electricity to supplement local production, NewsDay reportedAccording to Z...Published: 14 Jul 2022 at 09:28hrs | 3604 | by Staff reporter
AfDB to lead Zimbabwe debt clearance roadmap
AFRICAN Development Bank (AfDB) president Dr Akinwumi Adesina has formally accepted President Mnangagwa's request to lead Zimbabwe's debt clearance strategy, which is key for Harare to unlock fresh fu...Published: 13 Jul 2022 at 07:17hrs | 143 | by Staff reporter
'Chamisa could defeat the unreformed Mnangagwa'
ZIMBABWE has been reeling under a multifaceted economic and political crisis since 2000, and it appears there is no end in sight. Amid chronic high inflation, Zimbabwe is confronted with a crucial gen...Published: 12 Jul 2022 at 18:17hrs | 5567 | by Staff reporter
RBZ dismisses gold coin rumours
The Reserve Bank of Zimbabwe on Thursday dismissed as "fake news", social media content alleging that gold coins were already available ahead of their official release date.The central bank an...Published: 07 Jul 2022 at 20:13hrs | 1376 | by Staff reporter
Cost of Zimbabwe gold coins to be based on international prices
THE Reserve Bank of Zimbabwe (RBZ) is set to commence the trading of gold coins this month in a bid to introduce an alternative store of value in the market amid optimism that the coins will impact th...Published: 05 Jul 2022 at 21:06hrs | 776 | by Staff reporter
Mthuli Ncube says white farmers deal is 'confidential'
OPPOSITION Citizens Coalition for Change (CCC) legislator Allan Norman Markham has insisted that the US$3.5 billion compensation agreement between government and white former commercial farmers should...Published: 04 Jul 2022 at 07:06hrs | 5690 | by Staff reporter
Mnangagwa's ailing govt splurges millions on ministers
GOVERNMENT will soon splurge millions of United States (US) dollars to buy luxury homes for Cabinet ministers and their deputies at a time President Emmerson Mnangagwa's administration is ...Published: 01 Jul 2022 at 19:45hrs | 2579 | by Staff reporter
'Mnangagwa abusing Presidential powers'
THE opposition Citizens Coalition for Change (CCC) has castigated President Emmerson Mnangagwa's use of Presidential Powers to legalise the hike in interest rates by 200% and to declare lending and re...Published: 01 Jul 2022 at 07:31hrs | 6094 | by Staff reporter
Zimbabwe gold coins: A masterstroke?
IT is indeed in times of crisis and turmoil that the creativity of nations emerges and in my opinion, the idea of launching gold coins by the Reserve Bank of Zimbabwe (RBZ) is a master stroke that cou...Published: 01 Jul 2022 at 07:28hrs | 2744 | by Staff reporter
Workers turn heat on Mthuli Ncube
WORKERS have turned on the heat on Finance minister Mthuli Ncube, accusing him of presiding over the country's economic collapse and ignoring the Tripartite Negotiation Forum (TNF) to help improve wor...Published: 30 Jun 2022 at 06:48hrs | 1558 | by Staff reporter
Zimbabwe's forex earnings to reach US$12 billion this year
ZIMBABWE registered US$4,9 billion of foreign currency inflows during the first five months of this year, and is on course to surpass the 2021 record of US$9,7 billion, a senior official has said....Published: 30 Jun 2022 at 06:43hrs | 384 | by Staff reporter
'Mthuli Ncube, John Mangudya must resign'
OPPOSITION political parties have demanded that Finance minister Mthuli Ncube and Reserve Bank of Zimbabwe (RBZ) governor John Mangudya resign, accusing them of crafting anti-poor policies that are wo...Published: 29 Jun 2022 at 07:49hrs | 3162 | by Staff reporter
Mthuli Ncube redollarises
GOVERNMENT yesterday brought back the United States dollar as legal tender to stem rising inflation and restore confidence in the economy, but critics say the move will lead to more demands for salari...Published: 28 Jun 2022 at 07:26hrs | 9219 | by Staff reporter
Zimbabwe central bank hikes interest rates to 200%
THE Reserve Bank of Zimbabwe (RBZ) on Monday hiked interest rates from 80% to 200% in a bid to block cheaper speculative borrowing which has adverse effects on exchange rates.The developments ...Published: 27 Jun 2022 at 19:08hrs | 860 | by Staff reporter
Zimbabwean Exemption Permits holders' choice: Restart in a broken country or live undocumented in SA
THREE Zimbabweans who held Zimbabwean Exemption Permits (ZEPs), which the South African government has now scrapped, share their anxiety and anguish as they face deportation, uprooting their lives and...Published: 25 Jun 2022 at 08:42hrs | 2163 | by Staff reporter
Zimbabwe sinks deeper into debt hole
THE government last year added US$6,45 billion to the public debt as the Treasury assumed the former white farmer's compensation fund under domestic debt and the Reserve Bank of Zimbabwe (RBZ) legacy ...Published: 24 Jun 2022 at 08:56hrs | 850 | by Staff reporter
Backlash over Chinese loans
ZIMBABWE'S debt-stricken administration last year struggled to access fresh loans to scale up ambitious plans to revamp key infrastructure projects after accumulating significant arrears on lifelines ...Published: 23 Jun 2022 at 06:47hrs | 715 | by Staff reporter
Mapping for urban title deeds underway
Mapping of seven urban suburbs in the title formalisation process is now complete and while that process continues with the next suburbs on the list, the first stand owners being processed are now acq...Published: 22 Jun 2022 at 06:40hrs | 155 | by Staff reporter
Mpopoma factory creates 400 jobs
WHILE several established Bulawayo companies struggle to keep afloat citing numerous challenges, a small-to-medium scale furniture enterprise in Mpopoma is basking in solid growth and is now focused o...Published: 21 Jun 2022 at 06:39hrs | 297 | by Staff reporter
RBZ clears foreign currency auction backlog
THE backlog at the foreign currency auction run by the Reserve Bank of Zimbabwe has now been cleared with all allotments made by the end of last month now fully funded and all successful bidders since...Published: 21 Jun 2022 at 06:36hrs | 238 | by Staff reporter
RBZ tightens screws on bank loans
THE Reserve Bank of Zimbabwe (RBZ) has ordered banks to conduct site visits to clients who have taken out loans to ensure the money is used for its intended purposes, among other stringent measures....Published: 20 Jun 2022 at 06:42hrs | 1794 | by Staff reporter
Low to middle-income housing project takes off from Bulawayo
BULAWAYO yesterday witnessed the official launch of a US$11 million housing project that will result in the construction of thousands of low-cost housing units in selected parts of the country with th...Published: 18 Jun 2022 at 07:26hrs | 620 | by Staff reporter
Billion-dollar loans used to manipulate exchange rate
Fifteen major companies have been creating huge extra profits by borrowing billions of dollars, often from several banks, at concessionary interest rates, stocking up and then selling in US dollars an...Published: 18 Jun 2022 at 07:22hrs | 343 | by Staff reporter
RBZ issues statement on commercial bank loans
The Reserve Bank of Zimbabwe (RBZ) issued a statement on the outcome of investigation of the abuse of commercial bank loan facilities by certain business ...Published: 18 Jun 2022 at 06:43hrs | 4628 | by Tarisai Mudahondo
Zamco winds up operations
THE Zimbabwe Asset Management Company (Zamco) is winding up operations after it paid off, last year, the $1,2 billion it received from the Government to acquire Non-Performing Loans (NPLs).Zam...Published: 17 Jun 2022 at 08:14hrs | 39 | by Staff reporter
Mthuli Ncube told his tricks are not working
LEGISLATORS took Finance Minister Professor Mthuli Ncube to task in Parliament Wednesday, challenging him over the government's "failed" NDS-1 economic blue-print and the administration's apparent lac...Published: 16 Jun 2022 at 08:34hrs | 2457 | by Staff reporter
Zimbabwe holds Africa's largest lithium reserves
Zimbabwe holds Africa's largest lithium reserves, the fifth-largest globally, with its province of Masvingo home to the Bikita mine - site of the world's largest-known deposit of the metal at around 1...Published: 14 Jun 2022 at 19:33hrs | 11018 | by Staff reporter
Zanu-PF youths chide Empowerment Bank
Zanu-PF youths have accused the country's first "youth-focused" financial institution, Empowerment Bank (EB), of sabotaging President Emmerson Mnangagwa's ambitions to uplift young people.This...Published: 13 Jun 2022 at 06:48hrs | 723 | by Staff reporter
Zinara moves to weed out corruption
A LEGACY of corruption and operational challenges at tollgates has tainted the Zimbabwe National Road Administration (Zinara)'s corporate image.NewsDay (ND) chief reporter Taurai Mangudhla int...Published: 13 Jun 2022 at 06:46hrs | 322 | by Staff reporter
Cry, the beloved country Zimbabwe
THE average salary of a Zimbabwean teacher is now only able to buy just 20 loaves of bread. But the majority of the teachers' take home can no longer even buy half a dozen loaves given that many of th...Published: 10 Jun 2022 at 07:56hrs | 329 | by Staff reporter
Time to offer title deeds for Rural Dwellers
According to the world bank ,"Secure property rights and efficient land registration institutions are a cornerstone of any modern economy". This gives confidence to the national individuals and busine...Published: 09 Jun 2022 at 11:58hrs | 1029 | by Engineer Jacob Kudzayi Mutisi
'Teachers' salary can only buy 20 loaves of bread'
AS bread prices continue to soar, public sector employees are now comparing and contrasting their low wages to how many loaves they can actually purchase.A loaf of bread in the country now cos...Published: 08 Jun 2022 at 09:01hrs | 794 | by Staff reporter
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