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CSC, Boustead Beef deal sparks court battle
The Cold Storage Company (CSC) has officially terminated its partnership with Boustead Beef, leading to legal action, according to Lands, Agriculture, Fisheries, Water and Rural Development Minister, ...Published: 21 Oct 2024 at 07:42hrs | 235 | by Staff reporter
Mutapa to acquire drug producer CAPS Holdings
Zimbabwe's sovereign wealth fund, the Mutapa Investment Fund, is set to acquire local healthcare and drug manufacturing giant CAPS Holdings, despite a Supreme Court ruling earlier this year overturnin...Published: 14 Oct 2024 at 08:10hrs | 186 | by Staff reporter
Mutapa assets valued at US$16bn
A comprehensive valuation of companies under the Mutapa Investment Fund (MIF), carried out by prominent local and international accounting firms over the past five months, has placed the total value o...Published: 06 Oct 2024 at 10:02hrs | 217 | by Staff reporter
Zimbabwe shops impose limits amid panic-buying?
Some shops across Zimbabwe have imposed "one item per person" rules for products such as milk to fend off panic-buying triggered by a new loss of faith in the country's latest currency.Last we...Published: 02 Oct 2024 at 07:57hrs | 1181 | by Staff reporter
Zimbabwe's Mutapa Fund clinches US$350m power deal
The Mutapa Investment Fund (MIF) has approved a significant joint venture valued at US$350 million between Indian firm Jindal Africa Investments and Zesa to refurbish six units at Hwange Thermal Power...Published: 29 Sep 2024 at 14:25hrs | 3219 | by Staff reporter
Shareholders cream off US$1,6b from Mutapa
Zimbabwe's debt restructuring talks are at risk following revelations that the country's liabilities may have increased due to a secretive US$1.6 billion payment to unknown shareholders under the sove...Published: 04 Jul 2024 at 09:33hrs | 8 | by Staff reporter
Mushayavanhu discards ZiG banknotes with Mangudya's signature
The Reserve Bank of Zimbabwe (RBZ), under new governor John Mushayavanhu, destroyed millions' worth of Zimbabwe Gold (ZiG) banknotes that had been printed with the signature of his predecessor, John M...Published: 01 Jul 2024 at 10:29hrs | 10 | by Staff reporter
Mangudya underscores importance of well-managed parastatals for economic growth
John Mangudya, the chief executive of the Mutapa Investment Fund (MIF), underscored the crucial role of well-managed State-owned enterprises (SOEs) in driving economic growth in Zimbabwe.Addre...Published: 01 Jul 2024 at 04:08hrs | | by Staff reporter
Mutapa Fund facilitates US$431m loan for NRZ
The Mutapa Investment Fund (MIF) is facilitating a US$431 million loan from Afreximbank to support the National Railways of Zimbabwe (NRZ) in its infrastructural rehabilitation efforts. This developme...Published: 17 Jun 2024 at 09:00hrs | 2 | by Staff reporter
Mnangagwa urges Zimbabweans to trust the ZiG currency
President Emmerson Mnangagwa has urged industry leaders to trust in the Zimbabwe Gold (ZiG) currency, introduced to replace the unstable Zimbabwean dollar. Speaking at the 10th CEO Africa Roun...Published: 14 Jun 2024 at 07:21hrs | 8 | by Staff reporter
Zupco forced to suspend operation
The Zimbabwe Passenger Company (Zupco) has been forced to suspend operations due to a fuel shortage, despite the country having adequate fuel supplies. This crisis, ongoing for three weeks, is...Published: 04 Jun 2024 at 12:52hrs | 12 | by Staff reporter
Zimbabwe's very own Emperor Nero is burning down povo's hovels to build palatial villas for filthy rich few
"The closer the collapse of the empire, the crazier its laws" Marcus Tullius Cicero. Well we in Zimbabwe are witness this first hand. Zanu PF introduced the new local currency insisting ...Published: 18 May 2024 at 20:47hrs | | by Wilbert Mukori
RBZ is the problem not ZiG!
Before going to press on the Zimbabwe currency crisis, I had seven questions I wanted authoritatively answered. Professor Gift Mugano was the answer."Isn't he the one who is supposed to disapp...Published: 16 Apr 2024 at 17:58hrs | 1 | by Kenneth Mufuka
Mthuli Ncube pleads for patience on ZiG
FINANCE minister Mthuli Ncube has pleaded for patience with the recently introduced Zimbabwe Gold (ZiG) currency amid an uproar from the public over the disruptions it has caused to transactions....Published: 12 Apr 2024 at 09:51hrs | | by Staff reporter
Mnangagwa given five days to reverse decision
Zimbabwe National Students Union (Zinasu) co-leaders Nesbert Munyuki and Valentine Ziko have written to President Emmerson Mnangagwa challenging his appointment of top banker John Mushayavanhu as new ...Published: 07 Apr 2024 at 11:27hrs | 12 | by Staff reporter
RBZ boss appointment challenged in court
PRESIDENT Emmerson Mnangagwa's appointment of veteran bank John Mushayavanhu as the new Reserve Bank of Zimbabwe (RBZ) governor has been challenged by two university students, who allege that it contr...Published: 07 Apr 2024 at 10:33hrs | | by Staff reporter
The Zimbabwe currency crisis as seen from abroad!
AS we go to press, US financial news media has become aware of the Zimbabwe financial crisis.Bloomberg news agency and the Financial Times have reported authoritatively on the events surroundi...Published: 07 Apr 2024 at 10:25hrs | 4 | by Kenneth Mafuka
New Zimbabwe central bank boss talks tough
RESERVE Bank of Zimbabwe (RBZ) governor John Mushayavanhu on Friday declared that he will protect the central bank from external forces to maintain its independence.But analysts were quick to ...Published: 07 Apr 2024 at 10:23hrs | | by Staff reporter
Zimbabwe's new currency greeted with pessimism
The new currency introduced by the Reserve Bank of Zimbabwe (RBZ) on Friday has been branded old wine in new bottles by economists and financial experts who doubt that it will stand the test of time....Published: 07 Apr 2024 at 10:18hrs | 1 | by Mthandazo Nyoni
Mnangagwa's foot in the mouth again
PRESIDENT Emmerson Mnangagwa has an uncanny ability to frequently put his foot in the mouth, sometimes without harm but his recent episode on structured currency has left a trail of economic disaster....Published: 07 Apr 2024 at 10:11hrs | 6 | by Paidamoyo Muzulu
Anti-Zimbabwe economist says ZiG is old wine in new bottles
Prominent Zimbabwean economist and financial analyst Professor Gift Mugano says the new local currency launched today - unimaginatively named Zimbabwe Gold (ZiG) amid noisy claims by government offici...Published: 06 Apr 2024 at 13:20hrs | | by Staff reporter
Mnangagwa presides over the RBZ handover takeover process
President Emmerson Mnangagwa presides over the handover takeover process between new Reserve Bank of Zimbabwe (RBZ) governor John Mushayavanhu and his predecessor John Mangudya at the central ba...Published: 05 Apr 2024 at 10:11hrs | 6 | by Staff reporter
'RBZ reserves inadequate'
New Reserve Bank of Zimbabwe (RBZ) governor John Mushayavanhu talking to journalists at the central bank in Harare on Thursday during a handover takeover process from his predecessor John Mangudya ove...Published: 04 Apr 2024 at 21:16hrs | 98 | by Staff reporter
Mnangagwa inspects Zimbabwe's gold reserves
President Emmerson Mnangagwa conducted an inspection of the Reserve Bank of Zimbabwe (RBZ) vaults on Thursday, where officials informed him that Zimbabwe possesses 1.1 tonnes of gold.This visi...Published: 04 Apr 2024 at 21:16hrs | | by Staff reporter
Zimbabwe central bank summons Bank CEOs
The Reserve Bank of Zimbabwe (RBZ) has summoned chief executives of key financial institutions, specifically banks, for a meeting tomorrow morning ahead of the much-anticipated launch of a new currenc...Published: 04 Apr 2024 at 10:29hrs | 1 | by Staff reporter
Zimbabwe set to announce fate of Zimdollar
Zimbabwe's currency plunged to yet another record low as citizens rushed to the safety of the US dollar amid speculation an announcement from the central bank on the fate of the local unit is imminent...Published: 04 Apr 2024 at 06:03hrs | | by Staff reporter
Govt critic slams introduction of Zimbabwe's new 'structured currency'
Prominent economist Gift Mugano has dismissed the government's proposed introduction of a "structured currency" as merely a repetition of past unsuccessful endeavors. This move is seen as the latest e...Published: 03 Apr 2024 at 08:53hrs | 1 | by Staff reporter
Indian business mogul tried to defraud Zimbabwean govt over $100 million
Documents obtained by NewZimbabwe reveal that Ashok Jain, an Indian businessman, attempted to defraud the Zimbabwean government of over US$100 million in a dubious deal. According to these doc...Published: 03 Apr 2024 at 06:07hrs | 1 | by Staff reporter
Zimbabwe's structured currency launch on Friday
IN a bid to address currency volatility and exchange rate-driven inflation badly battering the economy amid arbitrage, the Zimbabwean government will next week launch a "structured currency" which the...Published: 31 Mar 2024 at 20:50hrs | | by Staff reporter
All eyes on new RBZ boss
RESERVE Bank of Zimbabwe (RBZ) new governor John Mushayavanhu is facing a tough challenge as he is expected to immediately halt the freefall of the Zimbabwe dollar and stop the economic implosion blam...Published: 31 Mar 2024 at 16:36hrs | | by Staff reporter
Why Mnangagwa cut short Mangudya's Zimbabwe Reserve Bank stay
PRESIDENT Emmerson Mnangagwa was yesterday forced to retire Reserve Bank of Zimbabwe (RBZ) governor John Mangudya a month earlier to give his successor room to come up with fresh measures to stabilise...Published: 29 Mar 2024 at 04:52hrs | 13 | by Staff reporter
Mnangagwa cuts short Mangudya's term at RBZ
President Emmerson Mnangagwa on Thursday brought forward by a month the appointment of John Mushayavanhu as the new Reserve Bank of Zimbabwe governor, hoping to stem the collapse of the local currency...Published: 28 Mar 2024 at 16:10hrs | 6 | by Staff reporter
New RBZ Governor to hit the ground running
Incoming Reserve Bank of Zimbabwe governor John Mushayavanhu is set to hit the ground running after his official appointment from today - 28 March 2024 - for a five year tenure to 27 March 2029 with i...Published: 28 Mar 2024 at 15:45hrs | 1 | by Staff reporter
Mnangagwa's Mutapa fund plots parastatals shake-up
The MUTAPA Investment Fund (MIF), previously criticized as a conduit for elite enrichment, has declared its commitment to establishing robust governance frameworks aimed at reining in reluctant State ...Published: 11 Mar 2024 at 04:57hrs | | by Staff reporter
Gold set to anchor Zimbabwe dollar
GOLD has emerged as the most ideal instrument likely to be used to anchor the structured currency the Government is pursuing to stabilise the exchange rate and curtail persistent inflation.The...Published: 10 Mar 2024 at 06:23hrs | 9 | by Staff reporter
Mnangagwa regime doing the work of US sanctions in Zimbabwe!
My own views on this sanctions issue have always been that we needed to prove these measures were the cause of our suffering. I have never denied that there have been targeted sanctions impose...Published: 06 Mar 2024 at 23:01hrs | 5 | by Tendai Ruben Mbofana
Ex-Indian soldiers in murky deals
SUSPECTED former Indian army officers, who have been operating in Mozambique's troubled northern province of Cabo Delgado region, have reportedly settled in Zimbabwe, where they are allegedly operatin...Published: 05 Mar 2024 at 05:01hrs | | by Staff reporter
RBZ boss designate hits ground running
JOHN Mushayavanhu, the incoming governor of the Reserve Bank of Zimbabwe (RBZ), has already started contributing to the 2024 monetary policy statement (MPS), getting things going right away, Sta...Published: 18 Feb 2024 at 09:19hrs | 9 | by Staff reporter
IMF trashes Zimbabwe inflation statistics
Government last year directed the Zimbabwe National Statistics Agency (Zimstat) to stop publishing local currency indexed inflation and switch to the blended rate, which it said was ideal as the count...Published: 16 Feb 2024 at 15:22hrs | | by Staff reporter
Zupco terminates contracts for urban buses
THE Zimbabwe United Passenger Company (Zupco) has initiated a process of terminating its contracts with private owners of buses plying urban routes.The move comes as the remaining buses on con...Published: 16 Feb 2024 at 04:57hrs | | by Staff reporter
Zimbabwe central bank accumulates almost a ton of gold reserves
Zimbabwe's central bank accumulated 793 kilograms (25,000 ounces) of gold reserves since introducing a law that compels mining companies to pay part of their royalties using the metal.The rese...Published: 14 Feb 2024 at 04:46hrs | | by Staff reporter
Another plan to rescue Zimdollar
ZIMBABWE is considering overhauling its exchangerate regime as the government seeks new measures to save its beleaguered currency.The latest proposals will be in a monetary policy statement th...Published: 11 Feb 2024 at 21:07hrs | | by Staff reporter
Major Zimpapers shake-up looms
THE state-controlled Zimbabwe Newspapers (1980) Ltd (Zimpapers) will soon appoint new editors after announcing a new board chaired by former Chief Secretary to the President and Cabinet Misheck Siband...Published: 30 Jan 2024 at 19:21hrs | 1 | by Staff reporter
Mnangagwa relative by marriage appointed to Zimpapers Board
The state-controlled Zimbabwe Newspapers (1980) Ltd (Zimpapers) has announced a new board chaired by former Chief Secretary to the President and Cabinet Misheck Sibanda's wife Doreen Joyce Sibanda....Published: 26 Jan 2024 at 13:38hrs | 62 | by Staff reporter
Zimdollar flounders
Zimbabwe's central bank will hold its first rate-setting meeting of the year next Monday as it seeks to deal with a currency rout.The monetary policy committee will meet "to discuss interventi...Published: 25 Jan 2024 at 06:37hrs | 1 | by Staff reporter
Mangudya says Zimdollar turmoil temporary
As Zimbabwe's parallel market reels under the strain of a currency crisis, central bank governor, John Mangudya, assures the public that this turmoil is merely passing.This grey market, operat...Published: 18 Jan 2024 at 17:55hrs | 1 | by Staff reporter
SA court hears how diesel consignment from British oil company to Zimbabwe 'disappeared'
British oil company BP claimed to have exported a consignment of diesel to Zimbabwe in 2019 - but the fuel never arrived.A case brought by the South African Revenue Service (Sars) in a South A...Published: 17 Jan 2024 at 05:09hrs | 15 | 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
Mnangagwa tightens his grip on levers of Zimbabwe's Treasury
WITH his close business ally John Muyashavanhu now confirmed as the incoming Reserve Bank of Zimbabwe (RBZ) governor, George Guvamatanga as Finance permanent secretary — chief accounting officer of ...Published: 12 Dec 2023 at 17:58hrs | | by Staff reporter
Mnangagwa names business associate as new RBZ governor
FBC Holdings CEO John Mushayavanhu, a business associate of President Emmerson Mnangagwa, will become governor of the central bank from May 1, 2024, the presidency announced on Friday.Current ...Published: 08 Dec 2023 at 20:52hrs | 10 | by Staff reporter
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