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Zimbabwe security chefs fingered in mobile money suspension
Zimbabwe's security force leaders sidelined the nation's economic chiefs and forced the government to close the stock exchange and halt most mobile-money transactions, people familiar with the situati...Published: 30 Jun 2020 at 22:44hrs | 5830 | by Staff reporter
Plot to destabilise Zimbabwe economy exposed?
AS Government intensifies efforts to close channels that are fuelling the black market and other illicit financial activities, it has emerged that some foreign nations and individuals have been trying...Published: 30 Jun 2020 at 07:52hrs | 1993 | by Staff reporter
Zimdollar continues to tumble
A forex dealer brandishes wads of $2 and $5 notes in Harare. The Zimdollar has continued losing value against stronger currencies like the rand and the United States dollar.THE Zimbabwe dollar...Published: 29 Jun 2020 at 07:46hrs | 4247 | by Staff reporter
Govt suspends EcoCash, 3 other platforms
GOVERNMENT has, with immediate effect, suspended all monetary transactions on mobile money platforms "to deal with malpractices, criminality and economic sabotage perpetuated by the wolves in sheep sk...Published: 27 Jun 2020 at 17:03hrs | 1093 | by Staff reporter
Mobile money services banned
THE Government has suspended phone-based money transactions with immediate effect as investigations into allegations that they fuel black market transactions that have caused runaway inflation gather ...Published: 27 Jun 2020 at 08:08hrs | 729 | by Staff reporter
Zimbabwe suspends phone based mobile money transactions - Fulltext
The Statement of Suspension on Monetary Transaction on Phone-Based Mobile Money TransactionsThe government of Zimbabwe has with immediate effect suspended all mobile money services and trading...Published: 26 Jun 2020 at 19:41hrs | 7640 | by Staff reporter
BREAKING: Mnangagwa suspends phone based mobile money transactions
President Emmerson Mnangagwa's government has banned the use of mobile money platforms with immediate effect. In a statement issued by Secretary for Information Ndabaningi Nick Mangwana, ...Published: 26 Jun 2020 at 18:47hrs | 11591 | by Mandla Ndlovu
Zimbabwe's economic collapse govt's own doing
PRESIDENT Emmerson Mnangagwa's claims that the deepening economic crisis is the work of his political detractors and greedy businesspeople reflect the government's failure to take responsibility for i...Published: 19 Jun 2020 at 08:25hrs | 1604 | by Staff reporter
Zimbabwe instability blights Common monetary Area prospects
FORMER Finance minister Tendai Biti says Zimbabwe's economic crisis, characterised by currency volatility, 785% inflation, a gargantuan debt stock estimated at US$10 billion and dwindling exports, hin...Published: 19 Jun 2020 at 08:25hrs | 791 | by Staff reporter
Chamisa insists that ball is in Mnangagwa's court
AS ZIMBABWE'S political and economic crises continue to deepen, Nelson Chamisa says the ball is in President Emmerson Mnangagwa's court to initiate sincere and inclusive national dialogue to help reso...Published: 18 Jun 2020 at 17:47hrs | 5093 | by Staff reporter
RBZ sweats over depreciating Zimdollar
THE Reserve Bank of Zimbabwe (RBZ) measures to stem parallel market activities are proving to be futile as the Zimbabwe dollar continues to plunge on the forex parallel market.Even after the c...Published: 17 Jun 2020 at 07:00hrs | 1921 | by Staff reporter
FIU revokes internal transfer directive
The Financial Intelligence Unit has revoked a directive issued to banks limiting internal transfer amounts following representations made by the Bankers Association of Zimbabwe. On June 4...Published: 16 Jun 2020 at 14:04hrs | 1352 | by Staff reporter
Mnangagwa pulled the plug on shady Covid-19 deals, claims Charamba
WITH the advent of the global pandemic, coronavirus (Covid-19), many civil society organisations have called for transparency in the use of various donations that the government has been receiving....Published: 14 Jun 2020 at 19:01hrs | 1972 | by Staff reporter
Biti warns Mnangagwa
FORMER Finance minister Tendai Biti has warned President Emmerson Mnangagwa and his under-pressure government that the country is facing imminent implosion.Speaking in an interview with the Da...Published: 07 Jun 2020 at 16:38hrs | 8432 | by Staff reporter
Solving political turmoil key to addressing Zimbabwe's economic crisis
ZIMBABWE is experiencing one of its worst economic crises since independence characterised by cash and foreign currency shortages, fuel scarcities, rampant prices hikes, hyperinflation and increased v...Published: 07 Jun 2020 at 16:35hrs | 712 | by Staff reporter
Zanu-PF lover nails Joanna Mamombe on 'abduction'?
ADDRESSING a press conference on Thursday last week, Home Affairs and Cultural Heritage Minister Kazembe Kazembe revealed that the vehicle driven by MDC-T Harare West legislator Joanna Mamombe during ...Published: 07 Jun 2020 at 09:00hrs | 8430 | by Staff reporter
Old Mutual Zimbabwe records $2,6 billion loss
DIVERSIFIED financial services firm Old Mutual Zimbabwe recorded a massive loss of $2,61 billion for the financial year ended December 31, 2019 due to the devaluation of the Zimbabwe dollar .T...Published: 07 Jun 2020 at 08:44hrs | 950 | by Staff reporter
'Chamisa, diplomats stage-managed abductions for United States 10-month scholarship'
GOVERNMENT yesterday claimed opposition MDC Alliance leader Nelson Chamisa, Western diplomats, human rights doctors and lawyers had connived to stage manage the recent alleged abduction and torture of...Published: 05 Jun 2020 at 09:09hrs | 3773 | by Staff reporter
Telcos want another tariff hike
Local mobile telecommunications operators have approached the Postal and Telecommunications Regulatory Authority of Zimbabwe (Potraz) for another upward review of tariffs. Earlier in March Pot...Published: 03 Jun 2020 at 09:47hrs | 393 | by Staff reporter
Peter Moyo loses out on multi-million rand payment
Peter Moyo lost out on R68.4 million in share options when his employment at Old Mutual was controversially terminated over an irreconcilable conflict of interest last year.Just over R13 milli...Published: 01 Jun 2020 at 16:15hrs | 3190 | by Staff reporter
Key economic lessons for Zimbabwe from South Africa
Zimbabwe and South Africa share a long history of trade, socio-economic, political and cultural ties that span for decades. The two countries are separated by a 225km border that runs along the Limpop...Published: 01 Jun 2020 at 15:42hrs | 681 | by Smetch Sibanda
Clueless gaze in the face of free-falling Zimdollar
THE spectacular collapse of the Zimbabwean dollar in the past week has yet again exposed the government's bankrupt currency policies worsening the country's deepening economic crisis.The Zimdo...Published: 29 May 2020 at 08:17hrs | 426 | by Staff reporter
'Restrictions on ZIPIT counter-productive'
IN a desperate bid to halt the rapid weakening of the Zimbabwean dollar, the Reserve Bank of Zimbabwe (RBZ)'s Financial Intelligence Unit (FIU) has, with immediate effect, imposed daily and monthly tr...Published: 29 May 2020 at 08:15hrs | 653 | by Staff reporter
Strong leadership in times of crisis
CT GSB alumnus Mehluli Mpofu was recently appointed as the Managing Director of Central Africa Building Society (CABS), a wholly-owned subsidiary of Old Mutual Zimbabwe. On the first day of his appoin...Published: 24 May 2020 at 22:01hrs | 953 | by Staff reporter
Cassava jumps to the top on ZSE
Fintech group, Cassava Smartech, has jumped to top company on the Zimbabwe Stock Exchange (ZSE) by market capitalisation, replacing Delta from its long held position. Figures from the local bo...Published: 27 Apr 2020 at 09:31hrs | 220 | by Staff reporter
No date for Ekusileni Medical Centre opening
EVEN the threat of coronavirus might fail to finally see the doors of Ekusileni Hospital in Bulawayo opened.The hospital, a brainchild of late Vice-President Dr Joshua Nkomo, has experienced a...Published: 26 Apr 2020 at 12:08hrs | 210 | by Staff reporter
ZSE registers OMSEC as first market maker
THE Zimbabwe Stock Exchange (ZSE) has announced the registration of Old Mutual Securities (Pvt) Limited (OMSEC) as the first market maker on the ZSE.OMSEC has been approved as a market maker f...Published: 20 Apr 2020 at 08:36hrs | 194 | by Staff reporter
Zimbabwe doctors offered hotel accommodation during combat with Covid-19
GOVERNMENT has given in to demands for special accommodation by Zimbabwean doctors during the current period of their potentially dangerous experiences with Covid-19 patients.This was revealed...Published: 17 Apr 2020 at 07:23hrs | 460 | by newzimbabwe
Mthuli Ncube yet to release COVID-19 funds
GOVERNMENT's incapacity to stop the spread of the deadly coronavirus in the country was exposed in a case currently before the High Court where the Health ministry disclosed that Treasury has not yet ...Published: 13 Apr 2020 at 08:32hrs | 488 | by Staff reporter
Old Mutual unveils $2 billion package to fight Covid-19 in Zimbabwe
GIANT financial services group, Old Mutual, has unveiled a ZWL$2 billion risk cover for frontline health care workers in the fight against Covid-19 in Zimbabwe. Speaking during a podcast meeti...Published: 10 Apr 2020 at 08:00hrs | 303 | by Staff reporter
What Old Mutual is doing to its valued countries, R10k cover for every healthcare worker
Every single one of South Africa's registered healthcare workers will now be entitled to free life insurance worth R10,000 in light of Covid-19, insurance group Old Mutual announced. Old Mutua...Published: 08 Apr 2020 at 13:10hrs | 536 | by Staff reporter
Fungibility suspension to 'materially' affect Old Mutual Zimbabwe share price
DIVERSIFIED financial services group, Old Mutual Limited (OML) has advised shareholders in the Zimbabwean unit that the fungibility suspension order on its shares would materially affect the share pri...Published: 07 Apr 2020 at 07:50hrs | 149 | by Staff reporter
Simbisa lays off contract workers
LOCAL companies are starting to feel the pinch of coronavirus, with Zimbabwe Stock Exchange (ZSE)-listed fast-foods concern Simbisa Brands announcing that it is laying off contract workers, putting em...Published: 07 Apr 2020 at 07:49hrs | 261 | by Staff reporter
Covid-19 triggers massive share sell-offs on ZSE
Share prices on the Zimbabwe Stock Exchange (ZSE) are expected to plunge during the national lockdown and beyond as companies engage in massive sell-offs on the stock market in the face of the global ...Published: 03 Apr 2020 at 08:52hrs | 206 | by Staff reporter
Lockdown and economic responses
ZIMBABWE went into lockdown on Monday over the Covid-19 pandemic that has seen the United States, at 164 387 cases (at the time of writing, Tuesday), becoming the country with the highest number of co...Published: 03 Apr 2020 at 08:50hrs | 143 | by Brett Chulu
Mpofu appointed Cabs MD
Building society Cabs has appointed Mehluli Mpofu as managing director, replacing Simon Hammond who retires after more than five years at the helm of the Old Mutual Zimbabwe unit.Mpofu served ...Published: 02 Apr 2020 at 11:46hrs | 520 | by Staff reporter
Old Mutual faces money laundering charges
THE Securities and Exchange Commission of Zimbabwe (SECZ) has launched an investigation into suspected illicit activities surrounding trading in fungible stocks linked to three listed companies — Ol...Published: 29 Mar 2020 at 07:27hrs | 783 | by Staff reporter
War vets support 'fungibility' ban
The Zimbabwe National Liberation War Veterans Association (ZNLWVA) has dismissed a story in a local weekly newspaper headlined "Fungibility shares ban unlawful", as an act of intimidation towards Gove...Published: 27 Mar 2020 at 06:35hrs | 536 | by Staff reporter
Zimbabwe banks close branches, suspend some services
Several Zimbabwean banks have seen closures at some of their branches, while others are no longer accepting physical documents, as the southern African country ramps up preventive measures against the...Published: 24 Mar 2020 at 19:21hrs | 3525 | by Staff reporter
Achieving an efficient interbank market
The Zimbabwean government announced that it was going to introduce a managed floating exchange rate system in order to manage exchange rate volatility. The move is also aimed at bringing transparency ...Published: 24 Mar 2020 at 18:32hrs | 1143 | by Victor Bhoroma
Achieving an efficient interbank market
The Zimbabwean government announced that it was going to introduce a managed floating exchange rate system in order to manage exchange rate volatility. The move is also aimed at bringing transparency ...Published: 24 Mar 2020 at 11:58hrs | 923 | by Victor Bhoroma
Zesa cuts Eskom debt to US$4m
LOAD-SHEDDING is expected to significantly ease within the next three months as Zimbabwe is close to settling its debt with South Africa's Eskom - one of the country's major power suppliers - while pa...Published: 23 Mar 2020 at 05:27hrs | 200 | by Staff reporter
'Law must punish anti-Zimbabwe elements'
PARLIAMENT should push for a punitive law that deals with citizens who demonise the country and serve foreign interests, war veterans leader Douglas Mahiya has said. Addressing delegates at th...Published: 18 Mar 2020 at 06:32hrs | 306 | by Staff reporter
Peter Moyo vs. Old Mutual: 'Captured' court dismisses bid to block hiring of new CEO
The Johannesburg High Court has dismissed an urgent application by former Old Mutual CEO Peter Moyo to stop the company from hiring a new chief executive on a permanent basis pending the appeal of a J...Published: 17 Mar 2020 at 15:50hrs | 1525 | by Staff reporter
Zimbabwe shuts down main source of hard currency
Zimbabwe has suspended the transfer of local shares in dual-listed companies to foreign bourses, one of the main ways citizens and businesses have been able to obtain dollars as inflation wipes out th...Published: 17 Mar 2020 at 14:11hrs | 8785 | by Reuters
Zimbabwe suspends international trading of shares for 3 companies
GOVERNMENT has suspended for 12 months the international trading of shares for three local companies, namely Old Mutual, PPC limited and Seedco International, amid suspicion they were driving foreign ...Published: 16 Mar 2020 at 07:06hrs | 616 | by Staff reporter
Mnangagwa's govt suspends fungibility on dual listed shares
Finance and Economic Development Minister Mthuli Ncube has suspended fungibility on dual listed shares for a period of twelve months as part if efforts to stabilise the exchange rate. This com...Published: 15 Mar 2020 at 11:29hrs | 1693 | by Staff reporter
Mthuli Ncube is going nowhere
Every Saturday morning, especially when the weather is beneficent, I take a copy of the Big Saturday Read by the supreme brother Alex Magaisa to my garden chair and settle myself with some expectation...Published: 15 Mar 2020 at 11:07hrs | 1396 | by Kenneth Mufuka
Mutsvangwa takes Biti to task
Zanu-PF Politburo member Chris Mutsvangwa last night took MDC-Alliance vice president Mr Tendai Biti to task for inviting illegal sanctions that have ravaged the country's economy.In a highly-...Published: 12 Mar 2020 at 23:59hrs | 5074 | by Staff reporter
What IMF report really says about Zimbabwe's economy
Unsurprisingly, the Reserve Bank of Zimbabwe (RBZ)'s 2020 monetary policy statement is more of the same — a tired litany of promises waiting to be broken and targets queuing up to be missed. Governo...Published: 06 Mar 2020 at 12:34hrs | 562 | by Anthony Hawkins
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