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Zimbabwe Parliament demands removal of punitive taxes
Parliament has sharply escalated pressure on Treasury to urgently scrap punitive taxes, including the highly contentious 2% Intermediated Money Transfer Tax (IMTT), by August 31, 2025, in a bid to hal...Published: 26 Jun 2025 at 11:25hrs | 1725 | by Staff reporter
Woes mount for Zimbabwe formal businesses\
Informal traders who largely evade taxes and levies are placing formal retail and wholesale businesses in Zimbabwe at a significant competitive disadvantage, burdened by a heavy and complex taxation r...Published: 23 Jun 2025 at 10:58hrs | 245 | by Staff reporter
Mthuli Ncube under pressure to ease tax burden
Finance, Economic Development and Investment Promotion Minister Professor Mthuli Ncube is facing mounting pressure from business leaders and economists to overhaul Zimbabwe's tax regime, with demands ...Published: 19 Jun 2025 at 11:24hrs | 1281 | by Staff reporter
Treasury launches last-ditch push to stabilise Zimbabwe economy
Zimbabwe's Treasury has embarked on a last-ditch effort to stabilise the country's fragile economy, amid growing fears that policy inconsistency, inflation, and currency volatility could derail indust...Published: 22 May 2025 at 11:33hrs | 619 | by Staff reporter
Smuggling takes toll on Zimbabwe economy
A sharp increase in smuggling and unregulated imports is intensifying illicit financial flows (IFFs) in Zimbabwe, severely undermining the country's formal retail sector. Authorities have recently pro...Published: 16 May 2025 at 10:41hrs | 399 | by `
Zimra targets US$7.155 billion in 2025 revenue collection drive
The Zimbabwe Revenue Authority (ZIMRA) has set an ambitious target to collect US$7.155 billion in tax revenue for 2025, reflecting a 17 percent increase from the 2024 target.ZIMRA, the governm...Published: 03 Apr 2025 at 08:05hrs | 86 | by Staff reported
The futility of Zimbabwe's crackdown on the informal sector
The Zimbabwean government has once again embarked on a futile mission to regulate the informal sector, a behemoth that has long outgrown the state's capacity to control it.In a desperate bid t...Published: 01 Feb 2025 at 21:32hrs | 1071 | by Tendai Ruben Mbofana
Mthuli Ncube willing to review tax proposals
The Zimbabwean Treasury may revise certain tax measures outlined in the 2025 National Budget following concerns raised by business leaders, economists, and other stakeholders. Finance, Economic Develo...Published: 11 Dec 2024 at 06:30hrs | 449 | by Staff reporter
Zimbabwe introduces taxes on pizza, burgers, fries
Finance Minister Mthuli Ncube has announced a new 0.5% tax on fast foods and a 10% withholding tax on sports betting winnings, set to take effect on January 1, 2025. The measures, unveiled during...Published: 28 Nov 2024 at 16:17hrs | 2288 | by Staff reporter
All eyes on Professor Mthuli Ncube
As Zimbabwe prepares for the presentation of the 2025 National Budget, all eyes are on Finance, Economic Development, and Investment Promotion Minister, Professor Mthuli Ncube. The Budget, which serve...Published: 27 Nov 2024 at 08:13hrs | 1090 | by Staff reporter
Zimbabwe must be bold in FDI drive
Finance, Economic Development, and Investment Promotion Permanent Secretary George Guvamatanga has disclosed that the government has been inundated with demands from prospective investors seeking Zimb...Published: 09 Sep 2024 at 08:24hrs | 101 | by Staff reporter
Zimra faces significant debt
The Zimbabwe Revenue Authority (Zimra) faces a significant debt of US$421.4 million and ZiG854.72 million from both private companies and public institutions by the end of the first half of 2024. The ...Published: 02 Aug 2024 at 07:04hrs | 219 | by Staff reporter
ZiG is putting lipstick on a pig, says Biti
The Reserve Bank of Zimbabwe (RBZ) on Friday introduced a new currency to be known as the ZiG, which stands for Zimbabwe Gold.RBZ governor John Mushayavanhu said the ZiG would be structured an...Published: 07 Apr 2024 at 10:31hrs | 29 | by Staff reporter
Zimbabwe's an anti-poor budget
Finance, Economic Development and Investment Promotion minister Mthuli Ncube yesterday presented the ZWL$58,2 trillion 2024 national budget.According to the Treasury chief, the economy is proj...Published: 01 Dec 2023 at 04:55hrs | 12 | 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 | 16 | by Staff reporter
Will the new ‘ZiG' ‘gold backed' digital currency alleviate Zimbabwe's currency stability woes?
THE chronic problem of Zimbabwe's economy has its roots in the land reform activities that began more than 30 years ago.The principle of ‘ethnic balance' in land ownership was fair. The prob...Published: 08 Oct 2023 at 08:02hrs | 2 | by John Mc Keown
Zimbabwe gold-backed tokens enter market
Zimbabwe Gold (ZiG), the digital tokens backed by gold, has gained approval as a legitimate means of payment for domestic transactions, effective immediately. Transactions involving ZiG will be proces...Published: 06 Oct 2023 at 06:32hrs | 3 | by Staff reporter
'Zimbabwe treasury lost $1,6 trillion to tax exemptions'
TREASURY, always in financial distress, lost about $1,6 trillion last year, up 312% compared to the prior year, through tax expenditures consisting of uncollected tax due to exemptions and incentives ...Published: 27 Jul 2023 at 06:39hrs | 1 | by Staff reporter
Intermediated Money Transfer Tax reduced from 4 to 1%
Mobile money customers are happy that the government has reduced the Intermediated Money Transfer Tax (IMTT) on domestic foreign currency transactions from 4% to 1%.The reduction, which was an...Published: 19 Jun 2023 at 18:10hrs | 4 | by Staff reporter
Banks scale back Zimbabwe dollar lending
BANKS have significantly reduced lending in the local currency ever since monetary authorities hiked interest rates last year to prevent rent-seeking behaviour by individuals and corporates, Reserve B...Published: 04 Jun 2023 at 08:29hrs | | by Staff reporter
EcoCash posts $4,76bn loss
ECOCASH Holdings Zimbabwe Limited (EHZL) has posted a $4,76 billion loss for its financial year ended February 28, 2023 owing to monetary exchange losses worth $30,1 billion linked to its failure to r...Published: 02 Jun 2023 at 06:44hrs | 2 | by Staff reporter
Zimbabwe telcos in another staggered price review
ZIMBABWE'S main telecommunication companies are set for another price adjustment on April 1, 2023, as operator battle to offset rising operational costs.The telecoms industry will review tarif...Published: 21 Mar 2023 at 20:24hrs | 2 | by Staff reporter
Zimbabwe records US$328mln in FDI
ZIMBABWE recorded USS327,9 million in foreign direct investment last year, an increase from USS237,5 million recorded in 2021. Despite the strong growth, analysts say the investment inflows re...Published: 12 Feb 2023 at 07:20hrs | 1 | by Staff reporter
Next, university graduates will be 'hailing' Mnangagwa for capping them!
It is now a well-established fact that the state-controlled broadcaster, ZBC - as well as the rest of the state media in Zimbabwe - is an embarrassment not only to the journalism profession, but also ...Published: 17 Jan 2023 at 19:15hrs | 1 | by Tendai Ruben Mbofana
Mthuli Ncube speaks on the IMMT 2% Tax
Finance and Economic Development Minister Mthuli Ncube has made it clear that the Intermediate Money Transfer Tax (IMTT) charged at 2% will not be scrapped.Legislators have made a call to the ...Published: 21 Dec 2022 at 13:33hrs | | by Mzingaye Nxumalo
Analysis of the 2023 national budget
The Zimbabwean government presented a ZW$4.5 trillion budget (21% of 2021 GDP) for the 2023 fiscal year. The government expects to collect revenues totaling ZW$3.9 billion (18% of GDP), thus resulting...Published: 16 Dec 2022 at 00:15hrs | 15 | by Victor Bhoroma
Mnangagwa's govt in $174 billion expenditure overrun
ZIMBABWE has reported a $174 billion expenditure overrun in the nine months of 2022 to September, latest figures show.Despite beating revenue collection targets for the nine months of 2022 by ...Published: 27 Nov 2022 at 14:54hrs | | by Staff reporter
Mthuli Ncube raises VAT, restores duty on basics
Finance minister Mthuli Ncube unveiled his 2023 budget on Thursday, raising value added tax (VAT) in a move the main opposition Citizens Coalition for Change (CCC) described as "an attack on working p...Published: 25 Nov 2022 at 05:21hrs | 1 | by Staff reporter
Mnangagwa's govt turns to Treasury bills, bonds
THE cash-strapped government is likely to print money to finance its $575,5 billion budget deficit, economic analysts warned yesterday after Finance minister Mthuli Ncube announced next year's $4,5 tr...Published: 25 Nov 2022 at 05:12hrs | 2 | by Staff reporter
Civil servants get lion's share
SALARIES for civil servants are set to go up markedly after the Government allocated the biggest chunk of the 2023 National Budget towards the public sector wage bill to cushion workers from the negat...Published: 25 Nov 2022 at 05:05hrs | | by Staff reporter
'Mthuli Ncube must pay civil servants USD salaries'
PRESSURE is mounting on Finance minister Mthuli Ncube to announce the payment of civil servants' salaries in United States dollars in the 2023 national budget which he will announce today.Ncub...Published: 24 Nov 2022 at 04:59hrs | 1 | by Staff reporter
Mnangagwa's personalization of government programs divisive and counter-productive
So, now there is a 'Miners for ED' group!Another, in a long line of shady organizations that have mushroomed over the recent past – a...Published: 20 Nov 2022 at 16:06hrs | 3 | by Tendai Ruben Mbofana
'Billions of electronic transactions untaxed'
AS the use of modern electronic payment systems continues to grow globally, experts say it is critical to increase investment into fiscal tools that enable the country to widen its ability to tax elec...Published: 19 Oct 2022 at 05:56hrs | 2 | by Staff reporter
World Bank commends Mthuli Ncube's bold economic reforms
GLOBAL financier, the World Bank (WB) has heaped praise on Zimbabwe for continuously implementing bold economic reforms more recently saying the initiatives had positioned the economy for a sound perf...Published: 16 Oct 2022 at 19:23hrs | | by Staff reporter
Mthuli Ncube urged to present USD budget for 2023
THE Zimbabwe Coalition on Debt and Development (Zimcodd) has called on Finance minister Mthuli Ncube to present the 2023 national budget in United States dollar terms to avoid the need for a supplemen...Published: 13 Oct 2022 at 05:57hrs | 1 | by Staff reporter
Zimra rolls out self-service kiosks
The Zimbabwe Revenue Authority (Zimra) has started rolling out self service facilities (Kiosk) for clients in a move to enhance efficiency in tax remittance as well as improve collections, especially ...Published: 27 Sep 2022 at 05:49hrs | 2 | by Staff reporter
Fresh calls to scrap Mthuli Ncube tax
ZIMBABWE'S 2% intermediated money transfer tax (IMMT) is the highest charge on electronic transactions across Africa and should be scrapped because it affects the poor more, non-governmental organisat...Published: 16 Sep 2022 at 06:08hrs | | by Staff reporter
Mthuli Ncube, civil servants meet over salaries
PUBLIC Service minister Paul Mavima has invited more than 40 public service unions to a meeting to discuss salaries and conditions of service today.Finance minister Mthuli Ncube is expected to...Published: 01 Aug 2022 at 06:37hrs | 2 | by Staff reporter
Zimbabwe companies miss Zimra revenue target
THE ZIMBABWE Revenue Authority (Zimra) says companies, which are some of the major contributors to revenue, missed the target for the quarter by 17,8% due to depressed economic performance and negativ...Published: 01 Aug 2022 at 06:36hrs | 1 | by Staff reporter
Zimra builds main office in Bulawayo
THE Zimbabwe Revenue Authority (Zimra) has started the construction of its main offices in Bulawayo, set to house all its operations as the tax collector seeks to improve efficiency.Work on th...Published: 24 Jul 2022 at 09:59hrs | 18 | by Staff reporter
WorldRemit closes transfers to Zimbabwe banks
British-based digital payments service, WorldRemit has announced its removal of direct bank transfers to Zimbabwean accounts in favour of mostly cash transactions.This came a month after Zimba...Published: 18 Jun 2022 at 07:28hrs | 13 | by Staff reporter
Mnangagwa panicking over Zimdollar
President Emmerson Mnangagwa has been summoning business owners his government believes are manipulating the Zimbabwe dollar to fuel anger over his rule amid growing fears an economic implosion could ...Published: 15 May 2022 at 06:14hrs | 6 | by Staff reporter
'Mnangagwa's govt killing Zimdollar'
GOVERNMENT'S short-term financing mechanisms to fund its programmes are the major contributors to the depreciation of the local currency, the Zimbabwe National Chamber of Commerce (ZNCC) has noted....Published: 10 May 2022 at 07:46hrs | | by Staff reporter
Zimra surpasses target
The Zimbabwe Revenue Authority surpassed its target for the 2022 first quarter by over eight percent despite challenges facing the economy.Zimra collected $178,77 billion against a target of $...Published: 02 May 2022 at 07:54hrs | 3 | by Staff reporter
Zimbabwe economy urgently needs tax reforms
For the fourth consecutive year, the Zimbabwe Revenue Authority (ZIMRA) has been exceeding budgeted quarterly and annual revenue targets (in ZW Dollar and in US Dollar terms). Even though the economy ...Published: 01 Apr 2022 at 12:40hrs | 10 | by Victor Bhoroma
Zimra records Z$161bn gross revenue Q4 2021
THE ZIMBABWE Revenue Authority (Zimra) has recorded Z$161 billion in gross revenue collections for the fourth quarter ended 31 December 2021, which is 48,9 percent above target.Despite the inf...Published: 31 Jan 2022 at 05:44hrs | 3 | by Staff reporter
Zimbabwe tops Sadc on mobile money use
Global System for Mobile Communications Association (GSMA), an association of mobile telecoms from across the world, has ranked Zimbabwe top of the Southern African Development Community (SADC)'s 16 m...Published: 28 Dec 2021 at 07:03hrs | 10 | by Staff reporter
2022 Post Budget Analysis
The Zimbabwean government presented a ZW$927.3 billion budget (18% of GDP) for the 2022 fiscal year. The government expects to collect revenues totaling ZW$850.7 billion (17% of GDP), thus resulting i...Published: 13 Dec 2021 at 09:11hrs | 9 | by Victor Bhoroma
Adequately fund health sector: MPs
LEGISLATORS have called on Treasury to adequately fund the health sector which has for decades been heavily dependent on development partners.This comes after Finance minister Mthuli Ncube (pi...Published: 12 Dec 2021 at 20:18hrs | 9 | by Staff reporter
'2% tax won't go away soon'
FINANCE and Economic Development Minister Professor Mthuli Ncube says the Government will review the intermediated money transfer tax (IMTT), commonly known as two percent tax, but this will not happe...Published: 12 Dec 2021 at 19:56hrs | 7 | by Staff reporter
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