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'Mliswa tried to rape my wife and kill me' says British man.
A United Kingdom based man Paul Westwood has written to President Mnangagwa alleging that Norton Member of Parliament Temba Mliswa illegally took over his companies, before threatening to rape his and...Published: 19 Nov 2018 at 15:32hrs | 5734 | by Mandla Ndlovu
Businessman’s wife caught pants down
IT is one of life's laws that when the poor are pondering on where they will get their next meal, the moneyed have their own fair share of tribulations that, at times, leave them envying the less priv...Published: 18 Nov 2018 at 08:00hrs | 3433 | by Staff reporter
Skeletons tumble as MPs begin investigation
FORMER Mines deputy minister Freddie Moyo has become the latest politician to be linked to the demise of Hwange Colliery Company Limited (HCCL), a development that left the lives of thousands of famil...Published: 18 Nov 2018 at 07:54hrs | 986 | by Staff reporter
Zimbabwe must adopt the rand, says Fitch Solutions
ZIMBABWE must adopt the South African Rand to deal with the worsening currency crisis caused by the shortage of United States dollars, an international research firm has said. United Kingdom-b...Published: 18 Nov 2018 at 07:46hrs | 1286 | by Staff reporter
Fake brown bread on the market
Some unscrupulous bakers are reportedly colouring white flour brown in making bread as a substitute to using brown flour, NewsDay reported.The difference between colouring white flour brown an...Published: 14 Nov 2018 at 05:52hrs | 1452 | by Staff reporter
Zimbabwe inflation hits the 20.8% mark, RBZ targets 7%
Zimbabwe's annual inflation rose sharply to a record 20.8 percent in October after it gained 15.46 percentage points from the September rate of 5.39 percent. The Consumer Price Index (CPI) for...Published: 13 Nov 2018 at 16:03hrs | 1555 | by Staff reporter
New law on illegal currency trading welcome
WE welcome President Emmerson Mnangagwa's decision to use temporary powers for a new law that will see illegal currency traders being sentenced to up to 10 years in jail, while ill-gotten wealth will ...Published: 12 Nov 2018 at 05:23hrs | 2347 | by Staff reporter
Mthuli Ncube tax evokes memories of 2008 crisis in Zimbabwe
When Zimbabwean President Emmerson Mnangagwa appointed a comparatively youthful, Cambridge-trained economist as finance minister in September, he gave him an almost impossible task: repay billions of ...Published: 11 Nov 2018 at 10:25hrs | 1136 | by Bloomberg
Reality check for Mthuli Ncube
Under-pressure Finance minister Mthuli Ncube faces a tough task in balancing policy measures that stabilise the economy and populist demands from the ruling party when he presents his much-awaited N...Published: 09 Nov 2018 at 17:18hrs | 4422 | by Staff reporter
Workers bemoan rot at Hwange Colliery
HWANGE Colliery Company workers have claimed management deliberately failed to repair conveyor belts to transport coal in order to promote private transport operators with whom they have links....Published: 08 Nov 2018 at 05:40hrs | 675 | by Staff reporter
'Mnangagwa refused Hwange concession licence renewal'
PRESIDENT Emmerson Mnangagwa used his Executive powers to refuse Hwange Colliery a renewal licence for the Western area concession, Mines minister Winston Chitando told Parliament yesterday, a claim w...Published: 06 Nov 2018 at 05:35hrs | 1043 | by Staff reporter
Mugabe's wealth exposed
Robert Mugabe has always been a well-kept secret with no one knowing exactly how much the Mugabes are worth. The only snippets has been the $1.35m diamond ring bought for Grace's wedding anniver...Published: 04 Nov 2018 at 14:46hrs | 45103 | by Mandla Ndlovu
New structure for Zimbabwe public service
The Public Service Commission is examining the roles, functions and mandates of Government ministries and departments as part of a process to come up with a new civil service structure.Governm...Published: 04 Nov 2018 at 08:44hrs | 956 | by Staff reporter
Mnangagwa privately admits economic woes
PRESIDENT Emmerson Mnangagwa this week acknowledged to business leaders that the country's economy was in distress and in dire need of immediate rescue, amid rising inflationary pressures and currency...Published: 03 Nov 2018 at 12:59hrs | 3993 | by Staff reporter
Afreximbank pledges to continue assisting Zimbabwe
AFRICAN Export-Import Bank (Afreximbank) has pledged to continue assisting Zimbabwe meet its financial needs, saying all the loans extended to local entities by the bank have performed to expectation,...Published: 03 Nov 2018 at 12:54hrs | 1084 | by Staff reporter
Econet stops Kwese subscriptions
ECONET Media has stopped its satelite subscription service to pave way for a review of its business strategy and service offerings to ensure they are in sync with changes in the global and digital bro...Published: 03 Nov 2018 at 08:46hrs | 1640 | by Staff reporter
Zimbabwe gets $1 billion bailout?
The African Export Import Bank (Afreximbank) has extended a $1 billion loan to Zimbabwe to guarantee the convertibility value of Real Time Gross Settlement (RTGS) balances into United States dollars a...Published: 02 Nov 2018 at 15:08hrs | 13668 | by Staff reporter
Econet Media refocuses business towards a digital future
Econet Media has reviewed its business strategy and service offerings, to align them with the changes in the global digital and satellite broadcasting sector, and growth in access to mobile and fixed ...Published: 02 Nov 2018 at 14:06hrs | 5032 | by Mandla Ndlovu
Mnangagwa sucked into missing $6,4m mess
PRESIDENT Emmerson Mnangagwa and Mines minister Winston Chitando were yesterday dragged into a case in which $6,4 million pumped into Hwange Colliery Company for exploration, allegedly disappeared, wh...Published: 02 Nov 2018 at 06:18hrs | 3227 | by Staff reporter
Mthuli Ncube should be ashamed of himself
Finance minister Mthuli Ncube should be ashamed of himself for the unprecedented events that culminated in the suspension of senior Reserve Bank of Zimbabwe (RBZ) officials.This was an uncalle...Published: 29 Oct 2018 at 12:33hrs | 13214 | by Staff reporter
Mnangagwa's command policies spark off market turmoil
GOVERNMENT'S commandist strategy to contain currency volatility and the rising tide of price increases ravaging Zimbabwe are likely to worsen an economic crisis that has persisted for decades while da...Published: 26 Oct 2018 at 08:25hrs | 2664 | by Staff reporter
Fierce crackdown on parallel market drops forex rate
A fierce government crackdown on illegal forex dealers, increased electronic surveillance of bank accounts, deployment of state security agents and arrests of individuals suspected to be at the centre...Published: 26 Oct 2018 at 08:13hrs | 6153 | by Staff reporter
Mnangagwa guns for Zanu-PF chefs
PRESIDENT Emmerson Mnangagwa yesterday told restive Zanu-PF chefs, who he said were using political positions to achieve selfish and corrupt ends to sabotage the economy, that he was coming for them....Published: 26 Oct 2018 at 07:18hrs | 5990 | by Staff reporter
Black market rates nosedive 1:1,5
PARALLEL market rates further plummeted to as low as US$1:RTGS/Bond1,5 this week from a peak of 1:6 in the last two weeks as Government forges ahead with implementing measures to stabilise the economy...Published: 26 Oct 2018 at 06:29hrs | 3294 | by Staff reporter
Mthuli Ncube on a trajectory of vendettas?
We received this article from a senior banker at the Reserve Bank of Zimbabwe, supporting his colleagues who are facing corruption allegations. We are withholding his...Published: 23 Oct 2018 at 07:58hrs | 10045 | by The Banker
Ex-CIO RBZ director suspended again
Reserve Bank of Zimbabwe has suspended its senior officials pending investigations into allegations levelled against them by Finance and Economic Development Ministry chairman of the communications ta...Published: 22 Oct 2018 at 21:39hrs | 8870 | by Staff reporter
Zimbabwe bakers, retailers haggle over $5 bread
A STORM is brewing between the Confederation of Zimbabwe Retailers (CZR) and the National Bakers' Association of Zimbabwe (NBAZ) after the latter proposed to hike the price of bread from $1,50 to abou...Published: 22 Oct 2018 at 06:40hrs | 1609 | by Staff reporter
Zimbabwe bakers plot $4 per loaf
Some stakeholders in the baking industry have held secret consultations over the past week to unilaterally peg the price of a standard loaf of bread to the prevailing black market rate of the United S...Published: 21 Oct 2018 at 15:25hrs | 3632 | by Staff reporter
Mnangagwa's lieutenants in political storms
President Emmerson Mnangagwa's vow to clean up the image of the government and its officials is increasingly coming under the spotlight - as his lieutenants keep getting embroiled in self-inflicted po...Published: 21 Oct 2018 at 14:17hrs | 4527 | by Staff reporter
Teacher, money-changer, fuel dealer, thigh vendor - all rolled in one
WHAT is this that we hear about this fortune hunter who is venturing into any trade that guarantees her an extra penny? Initially Blabber was not whether she is a teacher or hairdresser given ...Published: 19 Oct 2018 at 06:21hrs | 2001 | by Staff reporter
PPC mulls cement price increase
PPC Zimbabwe (PPC) is mulling an increase in cement prices to hedge against rising inflation, The Financial Gazette has learnt.In the wake of runaway United States dollar (USD) parallel market...Published: 18 Oct 2018 at 15:15hrs | 2502 | by Staff reporter
Mugabe forced to submit list of properties he acquired outside Zimbabwe
Former President Robert Mugabe has found himself on a list of individuals suspected to have externalised billions in recent years and forced to submit a list of properties he acquired outside the coun...Published: 18 Oct 2018 at 07:31hrs | 17488 | by Staff reporter
Banks comply with RBZ's FCAs directive
LOCAL banks have started creating separate Nostro Foreign Currency Accounts (FCAs) and Real Time Gross Settlement (RTGS) FCAs in line with a directive issued by the Central Bank early this month. ...Published: 18 Oct 2018 at 06:35hrs | 1416 | by Staff reporter
ZSE drops $4 billion in a day
The Zimbabwe Stock Exchange on Monday lost $4 billion in value after parallel market rates for bond notes and real time gross settlement (RTGS) rates against major currencies deteriorated.The ...Published: 17 Oct 2018 at 16:00hrs | 1220 | by Staff reporter
Mnangagwa closes in on forex kingpins
President Emmerson Mnangagwa's administration is apparently closing in on foreign currency kingpins - amid indications that a number of Zanu-PF bigwigs and prominent businesspeople are among those fac...Published: 17 Oct 2018 at 15:40hrs | 7120 | by Staff reporter
Bond note rate tumbles to 400%, Mthuli Ncube reassures market
FINANCE minister, Mthuli Ncube has said government has no control over the parallel market rates of the US dollar, which yesterday soared to about 400% after tumbling last Friday from 600% to less tha...Published: 17 Oct 2018 at 07:11hrs | 16795 | by Staff reporter
UK announces big inrease in cost of its visas
The UK Government has announced that it will double the current Immigration Health Surcharge from December 2018.According to Breytenbachs Immigration Consultants, the new immigration health su...Published: 16 Oct 2018 at 19:09hrs | 3289 | by Staff reporter
Mnangagwa says, 'No one will lose their money'
PRESIDENT Mnangagwa has assured the nation that no one will lose their money in banks as Government continues to work flat out to protect consumers through defending wage values and securing their sav...Published: 15 Oct 2018 at 06:20hrs | 2013 | by Staff reporter
Zimbabwe empty shelves scare
Austin Mushanguri shakes his head in dejection and walks away from the fridges in an affluent supermarket in the capital after reading a sign saying he can only buy one bottle of beer instead of the d...Published: 14 Oct 2018 at 10:09hrs | 4554 | by Staff reporter
Panic bond notes sellers count their losses
PARALLEL market rates continued tumbling yesterday with US$100 which was recently being exchanged $600 falling to as low as $150 bond. The rates started declining after Government guaranteed t...Published: 13 Oct 2018 at 07:09hrs | 7787 | by Staff reporter
Did government buy bond notes at +400% discount to reduce exposure?
There is speculation that the Mnangagwa led government deliberately fuelled Zimbabwe's sky-high parallel market rates to mop out bond notes at a cheaper price compared to the 1:1 to the US dollars....Published: 12 Oct 2018 at 19:25hrs | 5879 | by Ndoro Tafadzwa
Black market rates crash
Confidence is slowly returning to Zimbabwe's capital markets as parallel market rates dropped again today (Friday) after government's assurances of a 1 as to 1 real time gross settlement (RTGS) ...Published: 12 Oct 2018 at 18:28hrs | 3576 | by Staff reporter
Zimbabwe black market rates tumble
PARALLEL market rates plummeted in Bulawayo yesterday after Government guaranteed the 1:1 convertibility value of Real Time Gross Settlement (RTGS) balances into the United States dollar as well as av...Published: 12 Oct 2018 at 06:53hrs | 7247 | by Staff reporter
Mthuli Ncube fuelled parallel market rates, price increases
UNCERTAINTY hangs over the future of bond notes and real time gross settlement (RTGS) transfers, as more businesses are rejecting the two payment methods and the economy is effectively re-dollarising....Published: 11 Oct 2018 at 18:20hrs | 5027 | by Staff reporter
Bond notes not equal to US dollar, says Mthuli Ncube
FINANCE minister Mthuli Ncube has admitted that the country's surrogate bond note is not equal to the United States dollar, contradicting earlier government pronouncements on the currency.The ...Published: 09 Oct 2018 at 07:02hrs | 3745 | by Staff reporter
RBZ, fat cats rule the black market
Someone must do the right thing, grab the office keys from the Reserve Bank of Zimbabwe (RBZ) governor, John Mangudya, and take him to a job that he actually deserves. Because he looks and acts like a...Published: 07 Oct 2018 at 08:53hrs | 2928 | by Tawanda Majoni
Zimbabwe: Troubled nation now faces tough foreign policy choices
The toxic presidency of Mugabe may be over, but the new Zimbabwean government of Emmerson Mnangagwa must quickly make some hard foreign p...Published: 05 Oct 2018 at 17:18hrs | 1595 | by Stephen Chan, Professor of World Politics, University of London
Teachers demand pay hike
TEACHERS have threatened industrial action if government does not adjust their salaries to $600 per month to cushion them against a wave of price increases and the central bank's 2% tax on all electro...Published: 05 Oct 2018 at 06:47hrs | 3213 | by Staff reporter
Mnangagwa gamble backfires
President Emmerson Mnangagwa has got it all to do after the government's new measures to stabilise the country's sickly economy were rejected by a wide cross-section of the Zimbabwean populace — who...Published: 05 Oct 2018 at 06:28hrs | 1215 | by Staff reporter
Money transfers tax a threat to financial inclusion
Announcing fiscal measures on Monday, Finance and Economic Development minister Mthuli Ncube said the intermediated money transfer tax had been reviewed from five cents per transaction to two cents pe...Published: 04 Oct 2018 at 05:49hrs | 789 | by David Mhlanga
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