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Zimbabwe govt posts ZiG3,4bn budget deficit
GOVERNMENT has reported a ZiG3,4 billion budget deficit for the first nine months of the year owing to inflationary pressures and growing expenditure.Finance, Economic Development and Investme...Published: 07 Nov 2024 at 07:13hrs | 268 | by Staff reporter
Zanu-PF's conference begins
Zanu-PF's Politburo will convene today to launch this year's Annual National People's Conference, which will assess the state of the economy, party policies, and address pressing issues like climate c...Published: 22 Oct 2024 at 08:00hrs | 294 | by Staff reporter
Zimbabwe govt working on currency stability
In a comprehensive State of the Nation Address delivered yesterday at the new Parliament Building in Mt Hampden, President Emmerson Mnangagwa highlighted the government's ongoing efforts to stabilize ...Published: 03 Oct 2024 at 08:47hrs | 167 | by Staff reporter
Zimbabwe's ZiG primed for seamless international acceptance and usage
THE country's new currency, Zimbabwe Gold (ZIG) widespread acceptance locally will trigger a seamless acceptance regionally, Monetary Policy Committee member Mr Persistence Gwanyanya has said....Published: 10 Jul 2024 at 15:50hrs | 24 | by Staff reporter
'ZiG a game changer for economy'
President Mnangagwa has hailed the Zimbabwe Gold currency (ZiG), backed by gold, as a robust strategy for achieving currency stability and fostering economic growth. Speaking at the 10th CEO Africa Ro...Published: 17 Jun 2024 at 08:56hrs | | by Staff reporter
Zimbabwe leverages on resources for economic stability
The backing of Zimbabwe's currency by gold and strategic mineral reserves is reflective of the Second Republic's determination to ensure the country's natural resources are leveraged to advance sustai...Published: 11 Apr 2024 at 08:37hrs | | by Staff reporter
Retailers, service providers switch to ZiG prices
SEVERAL businesses and key service providers had by yesterday successfully converted prices of their goods and services to the new Zimbabwe Gold (ZiG) currency to ensure smooth consumer transactions....Published: 10 Apr 2024 at 06:02hrs | | by Staff reporter
Foreign currency dealers ditch trading spots
MOST illegal money changers popularly known as "Osiphatheleni" have abandoned their traditional trading spots in Bulawayo following the launch by the Government of the new gold-backed currency, the Zi...Published: 09 Apr 2024 at 06:20hrs | 3 | by Staff reporter
RBZ scraps bank charges for low-cost accounts
IN a move meant to encourage a culture of banking, the Reserve Bank of Zimbabwe (RBZ) has announced the scrapping of bank charges for low-cost accounts.Presenting his first Monetary Policy Sta...Published: 07 Apr 2024 at 10:06hrs | | by Staff reporter
Zimbabwe's new currency notes out this week
ZIMBABWEANS were transacting exclusively in United States dollars yesterday as the country began transitioning to the new currency — Zimbabwe Gold (ZiG) — following unveiling of the new gold-backe...Published: 07 Apr 2024 at 10:06hrs | 1 | by Staff reporter
'Zimdollar will be defended'
THE Zimbabwe dollar will continue to be promoted and defended as it is crucial in boosting the operations of some companies, especially in the cooking oil sector, Finance, Economic Development and Inv...Published: 04 Mar 2024 at 04:42hrs | 1 | by Staff reporter
Zimbabwe debt set to balloon
ZIMBABWE is set to finance its 2024 total budget financing gap of ZWL$9,2 trillion through domestic and external borrowing, a development that will further sink the country deep into debt.Acco...Published: 28 Feb 2024 at 06:28hrs | 2 | by Staff reporter
Bard Santner sets up New York office
HARARE - Local financial services firm Bard Santner Inc has set up an office in New York, United States, in a move to attract capital investment and transaction opportunities offshore.The comp...Published: 15 Feb 2024 at 18:42hrs | 13 | by Staff Reporter
IMF not ready to extend financial support to Zimbabwe
THE International Monetary Fund's (IMF) two-week-long high-level visit ended on Wednesday amid revelations that no financial support will be extended to Zimbabwe without authorities undertaking seriou...Published: 15 Feb 2024 at 10:08hrs | | by Staff reporter
Zimbabweans sink deeper into poverty
Zimbabweans are having to digging deeper into their pockets to buy basic commodities as the cost of living continues to rise with the food poverty line reaching ZWL$155 360,39 for a single perso...Published: 30 Jan 2024 at 07:47hrs | 1 | by Staff reporter
Zimdollar decline fueled by surge in money supply
THE Zimbabwe dollar has taken a battering in the past month with economists attributing the depreciation of the local currency to increased money supply after private and public sector employees were ...Published: 24 Dec 2023 at 16:10hrs | 7 | by Staff reporter
Zimbabwe govt approves 27 IPP projects
GOVERNMENT has approved 27 out of 28 projects from independent power producers (IPPs) amid a rising backlog in unapproved applications at a time when Zimbabwe is facing incessant power cuts.It...Published: 15 Dec 2023 at 07:55hrs | 1 | by Staff reporter
Mnangagwa ruined Zanu-PF business empire
THE predictable appointment of FBC Holdings chief executive John Mushayavanhu as the incoming Reserve Bank of Zimbabwe (RBZ) governor has completed President Emmerson Mnangagwa's critical post-electio...Published: 12 Dec 2023 at 18:00hrs | 5 | by Staff reporter
Professor Ncube readies Zimbabwe's budget
AS Finance, Economic Development and Investment Promotion Minister, Professor Mthuli Ncube, readies to present the 2024 National Budget tomorrow, expectations are high that it will consolidate prevail...Published: 29 Nov 2023 at 05:08hrs | 10 | by Staff reporter
Econet doubles its tariffs
ECONET Wireless Zimbabwe, the country's largest mobile network operator has with effect from today (Tuesday) doubled its data bundles.50-gigabyte wi-fi now costs whopping ZW$1 012 212, up from...Published: 24 Oct 2023 at 13:35hrs | | by Staff reporter
Zisco to start iron ore mining ahead of revival
MOTHBALLED steel giant, Zisco, has procured the equipment it requires to start limestone and iron ore mining in Redcliff early next year ahead of the much-anticipated resumption of operations, a senio...Published: 09 Oct 2023 at 06:05hrs | 1 | by Staff reporter
Mthuli Ncube says Zimbabwe's economy remains on positive trajectory
The country's economy remains on a positive growth trajectory with the prevailing macro-economic stability expected to continue, Finance and Investment Promotion Minister Professor Mthuli Ncube has sa...Published: 03 Oct 2023 at 06:10hrs | 1 | by Staff reporter
Zimdollar future hangs in the balance
IT is imperative for every successful and expanding economy in the world to have its own currency and monetary policy. I make that statement because it is important for all Zimbabweans to understand t...Published: 12 Sep 2023 at 06:33hrs | | by Eddie Cross
Outcry over Zimbabwe varsity fees increase
THE marginal increase in fees for public university students is meant to meet operational costs while ensuring quality education at a time when the Government is subsidising tuition fees and levies by...Published: 30 Aug 2023 at 06:44hrs | | by Staff reporter
A vote not cast, is a future lost
SOME citizens think that voting is a waste of time. Many a time, these people don't think that their circumstances can be changed by voting because of the assumption that associates politics with dirt...Published: 18 Aug 2023 at 06:58hrs | 1 | by Nicholas Aribino and Cyprian Muchemwa
Mthuli Ncube always wanted to be in politics
FINANCE and Economic Development Minister, Professor Mthuli Ncube, who is also the Zanu-PF parliamentary candidate for Cowdray Park constituency in Bulawayo says his participation in mainstream politi...Published: 08 Aug 2023 at 06:48hrs | 8 | by Staff reporter
Zinara reduces vehicle licence and tollgate fees again
ZIMBABWE National Roads Administration (Zinara) has reviewed downwards both toll and vehicle licensing fees effective today following the continuous strengthening of the local currency against the Uni...Published: 01 Aug 2023 at 20:54hrs | 7 | by Staff reporter
Vote ED to ensure development continuity, says Chiwenga
VICE-PRESIDENT Dr Constantino Chiwenga has implored Zimbabweans to vote in large numbers for President Mnangagwa in the forthcoming elections saying he has proven leadership qualities required to guar...Published: 23 Jul 2023 at 08:07hrs | 1 | by Staff reporter
Zimdollar demand soars
DEMAND for the Zimbabwean dollar continues to soar as more businesses and individuals seek to transact using the local currency, which has regained its lost value for the third consecutive time at the...Published: 05 Jul 2023 at 07:15hrs | | by Staff reporter
Why Mnangagwa blocked Mthuli Ncube's export tax
PRESIDENT Emmerson Mnangagwa recently blocked Finance minister Mthuli Ncube's 10% tax on mining exports to pay arrears on the country's debt overhang - which makes it difficult for the government to b...Published: 02 Jul 2023 at 17:27hrs | 11 | by Staff reporter
Zimdollar collapse a harbinger of worse things to come
THE Zimdollar this week recorded its biggest single day drop off since its reintroduction in June 2019 of 26% to $1 888,01, against the United States dollar on the official market.On the paral...Published: 29 Jun 2023 at 06:30hrs | 7 | by Staff reporter
Why Mnangagwa failed to improve Zim's economic prospects
IT is now more than five years since President Emmerson Mnangagwa assumed power with a mandate from his backers to improve the country's economic fortunes, the nemesis of his predecessor, Robert Gabri...Published: 29 Jun 2023 at 06:29hrs | 10 | by Martin Majaji
Econet increases tariffs again
ECONET Wireless Zimbabwe, the country's largest mobile network operator has with effect from today (Tuesday) hiked data bundles by up to 300 percent."We are reviewing our ZWL data and SMEs bun...Published: 20 Jun 2023 at 08:57hrs | 2 | by Staff reporter
Zimbabwe consumer demand remains firm despite currency depreciation
DEMAND within Zimbabwe's consumer sector will remain firm, supported by the informal sector, which makes up the bulk of the economy and shows resilience to macro-economic changes, a research firm has ...Published: 19 Jun 2023 at 06:43hrs | | by Staff reporter
Econet, EcoCash seek to raise US$60 million
Zimbabwe's largest telecommunications firm, Econet and its sister company EcoCash Holdings are planning to raise US$30,3 million each from shareholders to redeem outstanding debentures.The deb...Published: 09 Jun 2023 at 06:33hrs | | by Staff reporter
Zimbabwe's gold-backed digital tokens mop up $34bn excess liquidity
THE Reserve Bank of Zimbabwe (RBZ) has mopped up $34 billion through gold-backed digital tokens, which are part of measures to reduce liquidity in the market and expand the value-preserving instrument...Published: 06 Jun 2023 at 06:21hrs | | by Staff reporter
Econet pays $89bn in statutory obligations
ECONET Wireless Zimbabwe contributed $89 billion to the Government coffers through various statutory payments in the financial year ended 28 February 2023.The amount is a significant jump of 2...Published: 06 Jun 2023 at 06:21hrs | | by Staff reporter
Mthuli Ncube's import duty waiver on basic goods praised
ZIMBABWEANS have applauded the Government for lifting all restrictions on the import of basic commodities to boost market supplies and granting a 100 percent retention of domestic foreign currency ear...Published: 06 Jun 2023 at 06:17hrs | | by Staff reporter
Mthuli Ncube feels heat
THE government's ambitious growth projections are unlikely to be met because of protracted blackouts, which have stifled exports and further weakened the local currency.In December last year, ...Published: 02 Jun 2023 at 18:17hrs | 1 | by Staff reporter
RBZ clarifies new forex surrender policy
THE Reserve Bank of Zimbabwe (RBZ) is set to meet with the Bankers Association of Zimbabwe (BAZ) and Accountant General with a view to map the way forward on the use of foreign exchange from the 25 pe...Published: 02 Jun 2023 at 06:40hrs | 1 | by Staff reporter
Labour quota system key to reducing future conflict in Zimbabwe
The current president of NMWUZ - National Mine Workers' Union of Zimbabwe, Mr Kurebwa Javangwe Nomboka during an interview on labour and the combined 2023 Presidential, Parliamentary and Local Governm...Published: 01 Jun 2023 at 18:39hrs | 11 | by Maxwell Teedzai
Low tariffs chew into Econet earnings
ECONET Wireless Zimbabwe (EWZ) has posted a near $17 billion loss for the year ended February 28, 2023, owing to a 317,14% increase in exchange losses during the period as the local currency tumbled....Published: 01 Jun 2023 at 06:45hrs | | by Staff reporter
Mealie-meal shortage hits Zimbabwe?
ILLICIT deals involving some unscrupulous suppliers and traders have been blamed for creating artificial shortages of mealie-meal in formal shops while the commodity is being diverted to the streets a...Published: 01 Jun 2023 at 06:42hrs | | by Staff reporter
Mthuli Ncube says currency manipulators won't rest
Currency manipulators and economic saboteurs will always be lurking about looking for opportunities and loopholes to unjustly profiteer but authorities will also be always ready to institute measures ...Published: 31 May 2023 at 06:58hrs | | by Staff reporter
Zimdollar collapse a harbinger of worse things to come
THE Zimdollar this week recorded its biggest single day drop off since its reintroduction in June 2019 of 26% to $1 888,01, against the United States dollar on the official market.On the paral...Published: 27 May 2023 at 09:16hrs | | by Staff reporter
Zimbabwe govt lifts import restrictions on basics
GOVERNMENT has lifted all restrictions on the importation of basic commodities to boost market supplies and granted 100 percent retention of domestic foreign currency earnings, with a further fine-tun...Published: 12 May 2023 at 06:00hrs | | by Staff reporter
Mnangagwa's govt to investigate the latest spate of basic commodity price hikes
A CABINET committee has been set up to investigate the latest spate of basic commodity price increases as Government moves to ensure corrective measures are taken to protect consumers. The int...Published: 10 May 2023 at 05:57hrs | 5 | by Staff reporter
Ministry engages industry over price hikes
The Government is engaging the manufacturing and retail sectors with a view of establishing their operational challenges and arresting business malpractices causing unprecedented consumer price hikes....Published: 09 May 2023 at 06:01hrs | 1 | by Staff reporter
Zimbabwe price spikes spook consumers
A NEW wave of price hikes, triggered by the plummeting local currency on the parallel market, has thrown many consumers off balance.As of yesterday, the local currency was trading between $1 8...Published: 26 Apr 2023 at 06:35hrs | | by Staff reporter
More contractors blacklisted over illegal foreign currency deals
The crackdown on companies that channel funds to the illegal foreign currency market has been widened, with 13 more firms being blacklisted for their involvement.In November last year, 19 comp...Published: 04 Apr 2023 at 06:21hrs | | by Staff reporter
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