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Zimbabwe's banking sector sees surge in US dollar deposits
Zimbabwe's banking sector has experienced a remarkable increase in confidence, with foreign currency deposits rising by 13% to US$2.64 billion in October 2024, compared to the same period in 2023. Thi...Published: 14 Dec 2024 at 12:35hrs | 2125 | by Staff reporter
More trouble for Zimbabwe as Trump makes return
The incoming administration of Donald Trump in the United States has sparked significant interest across Africa, as analysts speculate on how his second presidency will affect the continent's security...Published: 14 Dec 2024 at 12:34hrs | 764 | by Staff reporter
Zimbabwe's GDP takes US$12bn knock
Zimbabwe's gross domestic product (GDP) has sharply fallen to US$35 billion in November, a staggering 25% decline from US$47 billion in April. The sharp contraction highlights the dire economic challe...Published: 14 Dec 2024 at 10:35hrs | 179 | by Staff reporter
Zimbabwe bans riverbed mining
The government has announced that over 300 illegal miners have been arrested across Zimbabwe as authorities intensify the enforcement of the ban on alluvial mining, following a directive issued by Cab...Published: 11 Dec 2024 at 06:40hrs | 270 | by Staff reporter
'Banks refuse to make salary payments on behalf of Zimbabwe govt'
A dramatic financial crisis has hit Zimbabwe's civil service as banks have reportedly withheld payments for thousands of public sector workers' salaries, citing the government's inability to meet its ...Published: 03 Dec 2024 at 09:58hrs | 12940 | by Staff reporter
Zimbabwe forex receipts jumps 17.9% to $10 billion in 2024
Zimbabwe recorded a remarkable 17.9% increase in foreign currency receipts in the first nine months of 2024, reaching US$10 billion compared to US$8.5 billion during the same period in 2023. This grow...Published: 02 Dec 2024 at 07:17hrs | 89 | by Staff reporter
Parliament apologises to Mnangagwa after budget speech power disruption
Zimbabwe's Parliament has issued an official apology to President Emmerson Mnangagwa and the nation after an embarrassing power outage occurred at the New Parliament Building during Finance Minister M...Published: 30 Nov 2024 at 13:08hrs | 139 | by Staff reporter
Zimbabweans abroad sent home US$1,9 billion in 9 months
Zimbabweans living abroad sent a record-breaking US$1.9 billion back home in the first nine months of 2024, marking a significant 16.5% increase from the US$1.6 billion remitted in the same period las...Published: 29 Nov 2024 at 07:17hrs | 365 | by Staff reporter
Zimbabwe's blueberry sector eyes 30,000-tonne target by 2030
Zimbabwean horticultural farmers are aiming to produce 30,000 metric tonnes of blueberries annually by 2030, a goal that underscores the rapid growth of the sector. However, this ambitious target is b...Published: 27 Nov 2024 at 12:44hrs | 362 | by Staff reporter
Construction thrives in Zimbabwe
Zimbabwe's construction sector is on the rebound despite the effects of currency volatility and an uncertain monetary policy framework.Piniel Mkushi, chairman of Cafca - the only cable manufac...Published: 22 Nov 2024 at 17:18hrs | 3179 | by Staff reporter
Zimbabwe to get normal to above-normal rains
The Meteorological Services Department (MSD) has reassured the nation that the 2024/25 rainfall season is expected to bring normal to above-normal rains, alleviating concerns of another drought in Zim...Published: 19 Nov 2024 at 08:47hrs | 2667 | by Staff reporter
High interest rates choking Zimbabwe currency borrowing
Listed clothing retailer, Edgars Stores Limited, has reported a resilient performance for the half-year period ending July 7, 2024, despite the ongoing economic setbacks and high interest rates that c...Published: 10 Nov 2024 at 11:02hrs | 182 | by Staff reporter
We Africans have our way of doing things
The thunderous weather, intensified by blinding lightning, instils fear in many of us. Folklore has it that during such storms, bad debtors and adulterers often tremble to the core, fearing that those...Published: 08 Nov 2024 at 14:57hrs | 275 | by Thomas Murisa
Zimbabwe ready to work with Donald Trump
Zimbabwe is prepared to strengthen its relationship with the United States and work together towards a more peaceful and prosperous world, President Emmerson Mnangagwa announced in a congratulatory me...Published: 07 Nov 2024 at 07:01hrs | 291 | by Staff reporter
Normal to above-normal rainfall still expected in ZImbabwe
Zimbabwe's Meteorological Services Department (MSD) has reaffirmed its forecast for normal to above-normal rainfall during this year's summer cropping season, despite reports suggesting a potential we...Published: 03 Nov 2024 at 10:03hrs | 325 | by Staff reporter
Rains spark optimism for Zimbabwe's planting season
The recent rains across Zimbabwe have brought hope to farmers nationwide, with several regions receiving over 20mm of rainfall, a key marker for initiating the planting season. Notable downpours were ...Published: 01 Nov 2024 at 06:26hrs | 193 | by Sgtaff reporter
South Africa plans to say goodbye to cash?
Despite the surging adoption of contactless payments in South Africa, more than half of the country still relies on cash as their dominant payment method, and the digital divide is slowing the migrati...Published: 29 Oct 2024 at 13:54hrs | 3058 | by Staff reporter
IMF upgrades Russia to world's fourth-largest economy
The International Monetary Fund (IMF) has ranked Russia as the world's fourth-largest economy based on purchasing power parity (PPP). PPP compares economic produc...Published: 24 Oct 2024 at 16:21hrs | 6321 | by Staff reporter
Britain's interference in the US presidential election will backfire badly
Foreign interventions in elections or referenda rarely end well for the interventionists. In 2016, then US President Barack Obama foolishly lectured the British people on how they should vote in the u...Published: 19 Oct 2024 at 20:22hrs | 984 | by Nile Gardiner
Mnangagwa, central bank deliver damp squibs
President Emmerson Mnangagwa's recent State of the Nation Address (Sona) has come under heavy criticism from leading economists, who say it lacked concrete solutions to arrest the nation's spiraling e...Published: 11 Oct 2024 at 18:33hrs | 1320 | by Staff reporter
Nduna apologise to Mnangagwa after UZ graduation flop, disrepute
Former Chegutu West legislator and wishful lawyer, Dexter Nduna has issued an apology to President Emmerson Mnangagwa for celebrating before his graduation flops, an incident that tainted credibility ...Published: 10 Oct 2024 at 16:10hrs | 1041 | by Gideon Madzikatidze
Zimbabwe's aviation sector soars with 24.8% passenger traffic surge
Zimbabwe's aviation industry is showing strong signs of recovery, with passenger traffic surging by 24.8% in the first half of 2024. The Civil Aviation Authority of Zimbabwe (Caaz) revealed this posit...Published: 05 Oct 2024 at 16:36hrs | 315 | by Staff reporter
'ZiG defence plan doomed'
The introduction of Zimbabwe's gold-backed currency, Zimbabwe Gold (ZiG), has faced a series of severe setbacks, pushing the economy deeper into turmoil, according to a new report by the Confederation...Published: 05 Oct 2024 at 16:35hrs | 2670 | by Staff reporter
Zimbabwe expects rains 'from November onwards'
Rains are anticipated to begin in Zimbabwe starting in November, with October expected to remain largely dry, according to Climate Minister Sithembiso Nyoni's briefing to the cabinet on Tuesday. Nyoni...Published: 02 Oct 2024 at 09:10hrs | 599 | by Staff reporter
Zimbabwe faces groundwater drought, claims World Bank
A recent report from the World Bank Group (WBG) has revealed a concerning outlook for Zimbabwe's critical sectors, including agriculture, water, forestry, and energy, due to the severe impacts of clim...Published: 02 Oct 2024 at 07:52hrs | 493 | by Staff reporter
Zambezi River Authority increases 2025 water allocation
The Zambezi River Authority (ZRA) has announced an increase in water allocation for power generation in 2025 to 27 billion cubic meters (BCM), a significant rise from the 16 BCM allocated at the begin...Published: 27 Sep 2024 at 15:42hrs | 509 | by Staff reporter
RBZ raises bank policy rate to 35%
The Reserve Bank of Zimbabwe (RBZ) has announced significant measures to tackle resurgent exchange rate volatility and mitigate inflationary pressures. Effective immediately, the bank policy rate has ...Published: 27 Sep 2024 at 15:29hrs | 1316 | by Staff reporter
Zimbabwe govt welcomes Uganda Airways
The Zimbabwean government has announced that the introduction of new airlines into the market will significantly reduce air travel times, thereby enhancing access to broader markets. This statement ca...Published: 26 Sep 2024 at 09:59hrs | 176 | by Staff reporter
Currency crisis piles more misery on fragile Zimbabwe economy
Leading economists have raised concerns over the potential economic impact of the recent waves of price hikes and currency volatility, which threaten to further destabilize an already fragile economy....Published: 20 Sep 2024 at 13:12hrs | 3498 | by Staff reporter
ZiG exchange premium skyrockets
Leading research firms have raised alarm this week over the ballooning exchange premium for the Zimbabwe Gold (ZiG) currency, with parallels being drawn to the collapse of the Zimbabwe dollar. The rap...Published: 13 Sep 2024 at 16:03hrs | 7515 | by Staff reporter
'Rhythm City' star opens up about family rejection due to his Zimbabwean wife
Renowned South African actor and former "Rhythm City star" Setlhabi Taunyane - also known as Bra Kop - has revealed painful personal struggles involving his family's rejection of his wife due to her Z...Published: 11 Sep 2024 at 09:08hrs | 709 | by Staff reporter
Zimbabwe to continue generating power from Kariba
Zimbabwe will continue generating power from the Kariba Hydro-Power Station through the end of the year, despite facing challenges due to low water levels. This assurance comes as Zambia plans to...Published: 05 Sep 2024 at 07:14hrs | 2673 | by Staff reporter
Normal to above normal rains expected in Zimbabwe for 2024/2025
Zimbabwe and other Southern African countries are expected to receive normal to above-normal rainfall during the 2024/25 farming season, offering hope for improved agricultural production and food sec...Published: 29 Aug 2024 at 16:09hrs | 604 | by Staff reporter
Kariba Dam levels worsen
The Zambezi River Authority (ZRA) has reported that severe rainfall shortages and the El Niño-induced drought of the 2023/24 season continue to impact water levels in Lake Kariba.As of this y...Published: 28 Aug 2024 at 10:19hrs | 483 | by Staff reporter
Unilever pulling out of Zimbabwe after 80 years
Unilever, one of the world's leading consumer goods companies, is pulling out of Zimbabwe after 80 years of operation.The company, which had reaffirmed its long-term commitment to the country ...Published: 27 Aug 2024 at 11:21hrs | 1234 | by Staff reporter
Mohadi meets Chakwera
Vice-President Kembo Mohadi emphasized the importance of ongoing collaboration between Zimbabwe and Malawi to ensure the effective implementation of bilateral trade agreements. Following a mee...Published: 27 Aug 2024 at 07:55hrs | 276 | by Staff reporter
Zimbabwe modernises weather monitoring systems
The Meteorological Services Department in Zimbabwe has been upgraded with advanced weather observing equipment, including automatic weather stations and radars, to strengthen the country's early warni...Published: 27 Aug 2024 at 07:49hrs | 97 | by Staff reporter
Are your friends damaging your health? Five signs they might be
There's no doubt we love our friends. Many of them we'll have grown up with, known for decades and been through thick and thin with. Others we may have developed over more recent times, connecting...Published: 23 Aug 2024 at 13:29hrs | 683 | by Staff Reporter
Helen Zille says South Africa's GNU was a lie
In a dramatic twist, DA federal chairperson Helen Zille has, for the first time, publicly admitted that the multi-party government in its current form is not a Government of National Unity (GNU)....Published: 02 Aug 2024 at 14:10hrs | 2371 | by Staff reporter
Zimbabwe misses mineral revenue target
Zimbabwe faces a challenging economic outlook for 2024, with economists warning of reduced foreign exchange reserves, diminished government revenue, and decreased economic activity due to lower global...Published: 19 Jul 2024 at 06:20hrs | 538 | by Staff reporter
Zimbabwe economy on the upswing, rating agency says
ICRA Rating, a UAE-based credit rating agency, has lauded Zimbabwe's economy for demonstrating impressive resilience and growth. The agency attributes this positive outlook to recent government initia...Published: 12 Jul 2024 at 09:15hrs | 43 | by Staff reporter
Bleak outlook for Zimbabwe's consumers
Inter Horizon (IH) Securities, a prominent financial services firm, has released a sobering report on Zimbabwe's consumer spending patterns for 2024. The analysis paints a bleak picture, attributing t...Published: 07 Jul 2024 at 10:58hrs | 10 | by Staff reporter
Govt takes over Harare ahead of Sadc summit
In preparation for the upcoming SADC summit in August, Harare City Council has temporarily ceded control of key services, including waste management, public transport management, and road rehabilitati...Published: 07 Jul 2024 at 10:23hrs | 9 | by Staff reporter
IMF says Zimbabwe's economy continues to show resilience
In light of new policy developments, an International Monetary Fund (IMF) staff team led by Mr. Wojciech Maliszewski conducted a second mission to Harare during June 18-27, 2024, to conclude the 2024 ...Published: 28 Jun 2024 at 13:01hrs | 4 | by Staff reporter
Zimbabwe central bank sees slower economic growth of 2%
The Reserve Bank of Zimbabwe (RBZ) projects the economy to grow by 2% in 2024, which is slower than the government's earlier forecast of 3.5%. Despite the lower inflation outlook and market calls for ...Published: 27 Jun 2024 at 14:22hrs | | by Staff reporter
Herman Mashaba's ActionSA rejects ANC of Ramaphosa's overtures
Herman Mashaba's ActionSA has declined an invitation to join the ANC-led Government of National Unity, saying it was important for Parliament to have a strong opposition to the government.Lead...Published: 26 Jun 2024 at 12:57hrs | 10 | by Staff reporter
'Zimbabwe's ZiG won't fail'
President Mnangagwa affirmed the robustness of the Zimbabwe Gold (ZiG), a meticulously developed currency backed by gold, which the government diligently worked on for two years. Introduced by...Published: 09 Jun 2024 at 09:09hrs | 3 | by Staff reporter
ZiG needs to be backed by RBZ discipline
According to the Reserve Bank of Zimbabwe (RBZ), a structured currency is a currency that is pegged to a specific exchange rate or currency basket and backed by a bundle of foreign exchange assets lik...Published: 16 Apr 2024 at 18:04hrs | 2 | by Zimbabwe Coalition on Debt and Development
'Bond notes, Zimdollar had no backing'
BOND notes and the Zimdollar (ZWL$) did not have any backing during their tenure, the central bank has said, raising questions on the facilities that were bandied to be supporting the local currency....Published: 12 Apr 2024 at 09:49hrs | 2 | by Staff reporter
'ZiG difficult to accept in US$-dominated market'
RESPECTED businessman and economist Nigel Chanakira says acceptance of the new currency, Zimbabwe Gold (ZiG), will be difficult given that the majority still prefer the greenback.The Reserve B...Published: 11 Apr 2024 at 08:45hrs | | by Staff reporter
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