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Row over release of fraud suspects
A senior regional prosecutor in Harare, Ms. Gossy Mudambu, is facing allegations of facilitating the release of three fraud suspects before their scheduled bail hearing, sparking concerns of potential...Published: 03 Oct 2024 at 08:43hrs | 183 | by Staff reporter
Community share ownership trust CEO faces arrest
TRADITIONAL leaders, villagers and other stakeholders have called for the arrest Chiadzwa Community Share Ownership Trust (CCSOT) Chief executive officer Hardwork Mukwada over charges of abuse of fund...Published: 04 Apr 2024 at 13:42hrs | 20 | by Staff reporter
Mnangagwa niece's legacy woes haunt ZBC
THE Zimbabwe Broadcasting Corporation (ZBC) is grappling with serious management challenges linked to Helliate Rushwaya - the newly appointed board chair - during her tenure as the acting chief execut...Published: 10 Mar 2024 at 06:51hrs | 9 | by Staff reporter
Delta, Zimra fight over US$ tax
DELTA Beverages Pvt Ltd is up in arms with the Zimbabwe Revenue Authority (Zimra) after the tax collector concluded that the company had improperly computed its income tax, resulting in the matter spi...Published: 29 Jan 2024 at 10:14hrs | 10 | by Staff reporter
Harare hacker steals US$30,000
A Harare man hacked into an account belonging to Premier Tobacco Auction Floors and stole US$30 000.Nyasha Mutasa (33) appeared before magistrate Dennis Mangosi charged with contravening the C...Published: 24 Dec 2023 at 16:11hrs | 8 | by Staff reporter
Zimbabwe gold-backed tokens enter market
Zimbabwe Gold (ZiG), the digital tokens backed by gold, has gained approval as a legitimate means of payment for domestic transactions, effective immediately. Transactions involving ZiG will be proces...Published: 06 Oct 2023 at 06:32hrs | 1 | by Staff reporter
Vehicle owners demand US$ from Zec
OWNERS of vehicles hired by the Zimbabwe Electoral Commission (Zec) for various election-related tasks have lamented receiving payment in local currency at the interbank rate instead of United States ...Published: 14 Aug 2023 at 06:35hrs | 7 | by Staff reporter
'If Zimdollar is abandoned markets and financial institutions will recover'
As the Zimbabwean dollar continues to battle for its survival under severe pressure from the United States dollar despite its recent recovery rally, John Legat, Imara Asset Management (Zimbabw...Published: 21 Jul 2023 at 07:56hrs | | by Staff reporter
Journalist appeals for US$15,000 for child's heart operation
A CHRONICLE staffer, Mashudu Netsianda is appealing for funds to enable his three-month-old baby to undergo open heart surgery in India.The baby was born with a congenital heart defect called ...Published: 16 Jul 2023 at 09:14hrs | 7 | by Staff reporter
RBZ in bid to calm run on banks over currency fears
The Reserve Bank of Zimbabwe on Friday sought to calm a run on banks, insisting that depositors' funds were safe.Thousands of panicky Zimbabweans lined up in bank queues to withdraw their Unit...Published: 10 Jun 2023 at 17:53hrs | | by Staff reporter
Chiwenga punishing Zimbabwe's health workers?
VICE President Constantino Chiwenga has been accused by some disgruntled nurses of blocking salary and allowance increments in the health sector as punishment for past strikes and demonstrations....Published: 26 Apr 2023 at 19:43hrs | 1 | by Staff reporter
Political plot to corrupt Zimbabwe's judiciary?
CORRUPT government officials are maneuvering to manipulate an anticipated investigation into allegations of misconduct and corruption against High Court judge Webster Chinhamora as he is seen to be pr...Published: 02 Apr 2023 at 11:12hrs | | by Staff reporter
Mangudya warns against forex loans
In a situation where there is little foreign currency in the market despite the banking sector having US$2,5 billion in nostro deposits, Reserve Bank of Zimbabwe governor John Mangudya has warned agai...Published: 12 Mar 2023 at 06:37hrs | 3 | by Staff Reporter
Headmaster accused of concocting exchange rates for fees
SOME parents with children attending Mangwara Primary School in Kariba have accused the school headmaster of allegedly threatening them whenever they question the exchange rate the school uses to char...Published: 25 Jan 2023 at 17:16hrs | 3 | by Staff reporter
Tough foreign exchange regime suffocating economy
Zimbabwe's broad money supply has grown from just under ZW$364,60 billion as of September 2021 to more than ZW$1,920 trillion as of September 2022. This represents growth of over 426% over a period of...Published: 16 Dec 2022 at 00:02hrs | | by Victor Bhoroma
Zimdollar to further strengthen?
The Zimbabwe dollar is likely to strengthen as extra strands in the policies to decrease the amount of local currency in bank accounts, while increasing the amount of foreign currency in official mark...Published: 20 Sep 2022 at 06:02hrs | 1 | by Staff reporter
Schools reject Zimdollar fees
SEVERAL schools across the country are demanding fees exclusively in United States (US) dollars owing to rising inflation, a development that has left parents and guardians in quandary ahead of school...Published: 02 Sep 2022 at 06:51hrs | 1 | by Staff reporter
Huge appetite for Zimbabwe gold coins
ZIMBABWE'S central bank has registered an overwhelming uptake of the Mosi-oa-Tunya gold coin after local financial institutions, pension funds, insurance companies and individuals bought the bulk of t...Published: 31 Jul 2022 at 17:51hrs | | by Staff reporter
ZANU PF MPs want 2023 elections postponed
With the party popularity nosediving from 51% in 2018 down to below 30% at present due to poverty, unemployment and poor economic policies, ZANU PF Members of Parliament (MPs) are sensing danger and w...Published: 25 May 2022 at 10:26hrs | | by John Mbizvo
Maize farmers plead for a 50% USD payment
FARMERS are pleading with the Grain Marketing Board to raise to 50% United States dollar (USD) offer to maize farmers.Zimbabwe Farmers Union (ZFU) president Abdul Nyathi: "We welcome the...Published: 23 May 2022 at 06:41hrs | | by Staff reporter
ZANU-PF MPs want 2023 elections postponed
With the party popularity nosediving from 51% in 2018 down to below 30% at present due to poverty, unemployment and poor economic policies, ZANU PF Members of Parliament (MPs) are sensing danger and w...Published: 21 May 2022 at 16:05hrs | 6 | by John Mbizvo, Political Analyst
Legislators letting citizens down
IT is now clear that Zimbabwe's parliamentarians are not playing their role of fixing the mess in our country's financial sector. The Zimbabwean government has introduced several statutory instruments...Published: 13 May 2022 at 19:04hrs | 1 | by Engineer Jacob Kudzayi Mutisi
Parliamentarians letting the citizens down
It is now clear that Zimbabwe's MPs or parliamentarians are not playing their role to fix the mess that our country's economic financial service is in. The Zimbabwean government has had Statutory Inst...Published: 12 May 2022 at 09:45hrs | 8 | by Engineer Jacob Kudzayi Mutisi
Govt moves to compensate depositors
MILLIONS of taxpayers' money will be channelled into reimbursing depositors whose United States dollar bank balances were wiped out in 2019 when the Zimbabwe dollar was reintroduced.Finance mi...Published: 10 May 2022 at 07:46hrs | | by Staff reporter
'Govt not withdrawing US$175 civil servants benefit'
The US$175 benefit paid to civil servants through their nostro accounts has not been withdrawn.In fact, the Government is working on several measures to improve the welfare of its workers, Sec...Published: 09 May 2022 at 07:04hrs | | by Staff reporter
Foreign currency deposits continue to surge
FOREIGN currency deposits in local banks continue to increase in a development indicating growing confidence in the country's banking sector, latest Reserve Bank of Zimbabwe (RBZ) data has reveals....Published: 11 Apr 2022 at 06:39hrs | 4 | by Staff reporter
Grace Mugabe frets over son's unholy alliances
PRESIDENT Robert Mugabe's widow, Grace, is fretting over her son Robert Jnr's newfound acquaintances who have nudged him into embracing his father's "tormentors" in Zanu-PF, amid fears he is being exp...Published: 08 Apr 2022 at 09:23hrs | | by Staff reporter
Forex auction market a perfect looting front for the connected
BUSINESSES finally had enough and told the Reserve Bank governor John Mangudya that the Zimbabwe dollar was done as a sustainable currency. They do not want it.Last Wednesday, at a review of t...Published: 14 Feb 2022 at 05:29hrs | | by Staff reporter
Zimdollar: The writing is on the wall
THE United States Agency for International Development food security watchdog, the Famine Early Warning Systems Network, reported a 20% increase in the price of bread and cooking oil last month....Published: 03 Feb 2022 at 05:42hrs | | by Staff reporter
Chibuku Super drives Delta Q3 performance
CHIBUKU Super spurred Delta Corporation's third-quarter performance, after the product contributed 77 percent to total sorghum beer sales volumes in the nine months to December 2021.Sorghum be...Published: 17 Jan 2022 at 06:28hrs | | by Staff reporter
No US$ bonus for nurses
HEALTH professionals have expressed disgruntlement after some of them allegedly received their bonuses in local currency while other civil servants were struggling to access their 13th cheques at loca...Published: 03 Dec 2021 at 05:34hrs | 5 | by Staff reporter
Civil servants seek bank charges exemption
Civil servants have asked Government to engage banks so that they are exempt from paying account maintenance charges to enable them to get their bonuses in full.Civil servants will this year b...Published: 25 Nov 2021 at 07:04hrs | 5 | by Staff Reporter
Civil servant's USD bonuses rate set
Civil servants will have their US dollar bonuses calculated on the conversion rate of $97,1361 to the US dollar, the rate existing when the decision was made.The bonus will include the total o...Published: 23 Nov 2021 at 05:52hrs | 5 | by Staff reporter
Factoring 'animal spirits' into Zimbabwe's economic discourse
John Maynard Keynes is considered by many to be the most consequential economist of the past century. Perhaps one of his boldest contributions to economics was postulating, perhaps correctly, that the...Published: 18 Nov 2021 at 19:02hrs | 7 | by Simbarashe Bepete
USD cash bonuses explained
CIVIL servants and Government pensioners will receive their bonuses later this month through bank deposits into their nostro accounts, Finance and Economic Development Minister Professor Mthuli Ncube ...Published: 14 Nov 2021 at 05:38hrs | 5 | by Staff reporter
Air Force commander sues top school after daughter excluded over US dollar fees
A top military commander whose daughter's offer letter for a Form 1 place at top Harare school, Dominican Convent, was withdrawn for refusing to pay fees in United States dollars has gone to court cha...Published: 10 Nov 2021 at 19:24hrs | 4 | by Staff writer
Telecoms sector appeals for tax reduction
ZIMBABWE'S Mobile Network Operators (MNOs) have appealed to the Government to reduce multiple taxes levied on the telecommunications industry to enhance operational viability and new investments....Published: 10 Nov 2021 at 05:32hrs | 5 | by Staff reporter
Zimta demands forex bonuses for teachers
THE Zimbabwe Teachers' Association (Zimta) has demanded that teachers' bonuses be paid in foreign currency to cushion them against inflation.Bonuses for teachers are due this month.Tea...Published: 09 Nov 2021 at 05:35hrs | 5 | by Staff reporter
'RBZ assets can't be attached'
The Reserve Bank of Zimbabwe has breathed a sigh of relief after the High Court ruled that the central bank's assets cannot be attached in a lawsuit over more than US$26 million in unsettled debt with...Published: 25 Oct 2021 at 06:22hrs | | by Staff reporter
Govt will keep digging in on currency
IN the week under review the Zimbabwean dollar (Zimdollar) swept past the psychological 1:90 mark. The local unit has been losing ground against the United States dollar on a weekly basis, for 24 stra...Published: 15 Oct 2021 at 20:20hrs | | by Respect Gwenzi
RBZ summons businesses over price madness
RESERVE Bank of Zimbabwe (RBZ) Governor Dr John Mangudya yesterday said his meeting with business this morning is not a witchhunt, but an effort by authorities to grasp the root cause of the prevailin...Published: 11 Oct 2021 at 05:54hrs | | by Staff reporter
'US$500m changing hands outside banks'
ABOUT US$500 million could be circulating outside Zimbabwe's banking system, Reserve Bank of Zimbabwe (RBZ) estimates showed last week, as industries said they had raised only a fraction of billions r...Published: 08 Oct 2021 at 19:03hrs | 6 | by Staff reporter
Eddie Cross says 'not unhappy' with black market foreign currency exchange
For a year, Eddie Cross sat on the Reserve Bank of Zimbabwe's Monetary Policy Committee, before he was fired for being too outspoken. In a recent interview with TechZim, he reveals why he is "...Published: 07 Oct 2021 at 18:21hrs | 6 | by Staff reporter
Authorities unleash sweeping crackdown on forex market
IN a renewed bid to contain the runaway foreign exchange rate - now trading at double the official rate around US$1: ZW$170 - the government has launched a fierce crackdown on currency traders in a mu...Published: 03 Oct 2021 at 08:19hrs | 6 | by Staff reporter
RBZ takes forex rate war to the streets
RESERVE Bank of Zimbabwe (RBZ) governor John Mangudya says the apex bank will continue its crackdown against black market kingpins to rid the market of delinquent behaviour.In an interview wit...Published: 01 Oct 2021 at 08:05hrs | | by Staff reporter
Zimbabwe set for US$1,1 billion current account surplus
ZIMBABWE's current account is projected to register a stronger surplus position of about US$1, 091 billion this year, higher than the initial projection of US$611,5 million, the Reserve Bank of Zimbab...Published: 01 Oct 2021 at 07:52hrs | | by Staff reporter
Zifa dangle US$64 000 winning bonus
ZIFA have dangled a US$64 000 winning bonus for the Warriors to inspire them to win the 2022 World Cup Group G qualifier against Ethiopia, at the Bahir Dar International Stadium, this afternoon. ...Published: 07 Sep 2021 at 06:08hrs | | by Staff reporter
RBZ forex auction system overwhelmed
THE Reserve Bank of Zimbabwe (RBZ)'s foreign currency auction system is overwhelmed as it struggles to meet growing demand, leading to a two-month delay in payment of successful bids.This has ...Published: 30 Jul 2021 at 07:29hrs | 3 | by Staff reporter
Challenges facing Zimbabwe's foreign exchange auction
IT is clear that the auction for foreign exchange is in trouble. The arrears now stand at over US$200 million. That is equivalent to nearly Z$18 billion and the delays are having a serious impact on c...Published: 27 Jul 2021 at 07:16hrs | 3 | by Eddie Cross
CABS taken to court over currency conversion
ARCHITECTURAL firm Stone/Beattie Studio has filed a High Court application seeking to recover US$142 000 from Central Africa Building Society (CABS) that was converted to the equivalent local unit fol...Published: 23 Jul 2021 at 08:58hrs | 1 | by Staff reporter
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