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'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 | 12939 | by Staff reporter
Zimbabwe teachers petition govt over 'farm-like' wages
The Progressive Teachers Union of Zimbabwe (PTUZ) has formally petitioned the government over the ongoing issue of erratic salary payments, particularly highlighting delays in the payment of the local...Published: 23 Nov 2024 at 13:31hrs | 1641 | by Staff reporter
Annual independent external audit for RBZ reserves
Independent external auditors shall audit Reserve Bank of Zimbabwe (RBZ) precious minerals and foreign currency reserves backing the country's new currency, Zimbabwe Gold (ZiG), once a year as part of...Published: 11 Apr 2024 at 08:32hrs | 16 | by Staff reporter
Govt blitz as traders dump Zimdollar
THE Consumer Protection Commission together with the police and the Financial Intelligence Unit has launched a blitz on businesses refusing to accept the Zimdollar following the launch of a new curren...Published: 09 Apr 2024 at 06:22hrs | | by Staff reporter
POSB privatisation put on halt
THE planned partial privatisation of the People's Own Savings Bank (POSB) has been put on halt as the bank awaits further guidance on the project from the shareholder.Partial privatisation was...Published: 04 Apr 2024 at 06:14hrs | | by Staff reporter
'Mutapa Investment Fund mustn't become conduit for looting'
AS prevalence of public sector corruption reaches alarming levels, the International Monetary Fund (IMF) has demanded that Zimbabwean authorities ensure the newly-established Mutapa Investment Fund (M...Published: 11 Mar 2024 at 09:09hrs | 31 | by Staff reporter
POSB rolls-out ATMS
The People's Own Savings Bank (POSB) has rolled out 15 advanced Automated Teller Machines (ATMs) across its service centres as part of enhancing customer experience and convenience.This is the...Published: 10 Feb 2024 at 06:29hrs | | by Staff reporter
Zanu-PF members label police liars
There was drama at the Gweru Magistrates Court yesterday where Zanu-PF witnesses are testifying in the case in which Citizens Coalition for Change (CCC) members are facing charges of malicious damage ...Published: 19 Jan 2024 at 13:08hrs | | by Staff reporter
Massive queue at Hwange Post office
Masses of people flooded Hwange Post office in the late morning hours of Monday for pay withdrawals.Doors at Hwange Zim Post office were heavily congested with Civil Servants, Village heads an...Published: 15 Jan 2024 at 19:22hrs | 1 | by Peter Matuka
Mnangagwa's Mutapa Fund likely to create oligarchs
FEARS abound that President Emmerson Mnangagwa's self-serving Mutapa Investment Fund project has hallmarks of how Russian state assets were sold for a song or brazenly stolen during its transition fro...Published: 09 Oct 2023 at 13:50hrs | | by Staff reporter
Kasukuwere to challenge Mnangagwa's 'looting scheme' in court
Saviour Kasukuwere, a former Zanu-PF commissar in exile, has signaled that his movement is contemplating legal action against President Emmerson Mnangagwa's recent decision to shield the procurement p...Published: 01 Oct 2023 at 14:34hrs | | by Staff reporter
Masvingo Mayoress promises to tame corruption in council
The newly elected Masvingo City Mayoress Shantiel Chiwara has promised to arrest corruption in council as one of her major goals during her term following her election as top leader of the house....Published: 29 Sep 2023 at 08:12hrs | 2 | by Staff reporter
Mnangagwa's Mutapa fiasco raises eyebrows
Observers have raised concerns over President Emmerson Mnangagwa's decision to transfer the shareholding of 20 state-owned companies to the renamed Mutapa Investment Fund (MIF) without parliamentary i...Published: 24 Sep 2023 at 09:09hrs | | by Staff reporter
Mnangagwa's govt to offload 49% POSB stake
GOVERNMENT has put a 29% stake in the People's Own Savings Bank (POSB) for sale as the bank's partial privatisation exercise gets underway.The private placement will be followed by an initial ...Published: 21 Aug 2023 at 06:41hrs | 5 | by Staff reporter
Reserve Bank of Zimbabwe bails out 3 banks
THE Reserve Bank of Zimbabwe (RBZ) has used its lender of last resort (LoLR) facility to bail out three distressed banks which had run out of liquidity following the steep depreciation of the local cu...Published: 16 Aug 2023 at 06:49hrs | 10 | by Staff reporter
Zimbabwe civil servants smile all the way to the bank
Civil servants smiled all the way to the bank yesterday as they started receiving along with the normal salary and allowances, a newly increased forex component of US$50 plus an additional local curre...Published: 19 Jul 2023 at 06:38hrs | 10 | by Staff reporter
CCC activists further remanded over politically-motivated violence
MVUMA magistrate Constance Mtandwa last Friday further remanded to July 27 for confirmation of trial date, Citizens Coalition for Change (CCC) Chirumanzu South candidate Patrick Cheza and five other p...Published: 11 Jul 2023 at 07:39hrs | 7 | by Staff reporter
New city for 30 000 residents on the cards in Zimbabwe
GOVERNMENT has approved a plan for the development of a new town between Mvuma-Chivhu and Manhize in the Midlands province amid growing interest from industrialists, banks, and other service providers...Published: 19 Jun 2023 at 06:45hrs | 29 | by Staff reporter
CCC dismisses 'leaked' candidates list
OPPOSITION Citizens Coalition for Change (CCC) has warned its aspiring candidates against celebrating early victory, saying the party was yet to confirm the successful candidates.In some areas...Published: 07 Jun 2023 at 08:44hrs | 1 | by Staff reporter
Chamisa's activists detained over violence
Gweru provincial magistrate Miriam Banda yesterday remanded in custody Citizens Coalition for Change (CCC) Chirumanzu South candidate Patrick Cheza and four other party activists on charge...Published: 04 Jun 2023 at 08:39hrs | 1 | by Staff reporter
Women in agriculture capacitated
Over 200 women in agriculture were invited to meet with various stakeholders in Mashonaland East province for a capacity building in Agribusiness in Marondera today.The workshop unpacked oppor...Published: 18 May 2023 at 16:12hrs | 16 | by Simbarashe Sithole in Marondera
Zimbabwe gold digital tokens to hit market on Monday
THE Reserve Bank of Zimbabwe (RBZ)'s will release its gold-backed digital tokens into the market on Monday to serve as both an instrument for store of value and transacting.The bank has since ...Published: 05 May 2023 at 20:22hrs | | by Staff reportr
The Nkulumane Complex: A sleeping giant
The Nkulumane Mall is named after Nkulumane who was King Mzilikazi's son. Nkulumane was born in Mhlahlandlela, near modern-day Pretoria in South Africa. Nkulumane was named after Kuruman, where Dr. Ro...Published: 08 Mar 2023 at 10:18hrs | 220 | by Mncedisi Nyathi
NSSA shouldn't act as if they derive some depraved pleasure from elderly's suffering
Whenever I witness the sad plight of the elderly in Zimbabwe, the adage, ‘there's no rest for the weary' always comes to mind.Having gone to the local Kwekwe branch of the state-owned POSB (...Published: 29 Dec 2022 at 20:23hrs | 10 | by Tendai Ruben Mbofana
Bulawayo's iconic Post Office Gardens crumble
A gaping hole now exposes the western part of the Post Office Gardens. It is perhaps ironic that a building also known as the War Memorial Park or the Cenotaph, now looks like it was the victim of a n...Published: 20 Nov 2022 at 15:37hrs | | by Staff reporter
John Tallach reigns supreme at high schools quiz
JOHN Tallach High school from Matabeleland North province, came out tops in the inaugural Capital Markets high schools quiz competition held in Harare yesterday.The quiz show was organised by ...Published: 17 Sep 2022 at 06:42hrs | 2 | by Staff reporter
NSSA awards pensioners 50pc increment
Pension payouts will be reviewed by up to 50 percent this month and be progressively adjusted in subsequent months subject to "affordability and sustainability" to cushion pensioners from price increa...Published: 21 Aug 2022 at 08:41hrs | 9 | by Staff reporter
New parastatals on cards, restructuring continues
GOVERNMENT will continue to restructure and partially privatise parastatals including establishing new ones in order to buttress the ongoing economic transformation drive in line with Vision 2030....Published: 16 Aug 2022 at 06:37hrs | | by Staff reporter
Nssa to increase pension pay-outs
NATIONAL Social Security Agency (Nssa) has promised to increase pension pay-outs starting from next month and it will be backdated to this month.In an interview with Daily News on Sunday yeste...Published: 27 Apr 2022 at 12:57hrs | | by Staff reporter
IMF notes show no appetite for reform
The Executive Board of the International Monetary Fund (IMF) concluded its Article IV Consultation with Zimbabwe on 21 March 2022. The press release noted that real Gross Domestic Product (GDP) rose b...Published: 12 Apr 2022 at 16:50hrs | 2 | by Victor Bhoroma
IMF notes show no appetite for reform
The Executive Board of the International Monetary Fund (IMF) concluded its Article IV Consultation with Zimbabwe on 21 March 2022. The press release noted that real Gross Domestic Product (GDP) rose b...Published: 01 Apr 2022 at 12:34hrs | 1 | by Victor Bhoroma
Govt courts banks for $2,1bn bailout
ZIMBABWE'S cash-strapped government has turned to banks for a $2,1 billion bailout to bankroll public expenditure programmes and bolster its weak cashflows.Under the programme, government will...Published: 24 Mar 2022 at 05:22hrs | 1 | by Staff reporter
RBZ issues ZW$2,1bn Treasury Bill
THE Reserve Bank of Zimbabwe (RBZ) yesterday issued a ZW$2,1 billion Treasury Bill seeking to raise funding from the market to support development programmes and public cashflow management.Tre...Published: 24 Mar 2022 at 05:20hrs | | by Staff reporter
Govt moves to ease burden on pensioners
PENSIONERS in various parts of the country are reportedly travelling long distances to access their paltry monthly stipends at banks in cities.Last Thursday, Finance deputy minister Clemence C...Published: 22 Mar 2022 at 05:45hrs | 1 | by Staff reporter
Fierce fight erupts at POSB
A FIERCE boardroom fight has erupted at the People's Own Savings Bank (POSB) over retired chief executive officer Admore Kandlela's decision to hold on to the job despite having been paid lucrative te...Published: 14 Feb 2022 at 05:35hrs | 8 | by Staff reporter
Nssa pensioners get 20% increment in January
PUBLIC Service, Labour and Social Welfare Minister Professor Paul Mavima has authorised the National Social Security Authority (Nssa) to increase benefits pay-outs by up to 21 percent to meet its targ...Published: 02 Jan 2022 at 09:09hrs | 8 | by Staff reporter
Forex bonus withdrawals overwhelm banks
SCORES of civil servants and pensioners continued to queue outside banking halls in Bulawayo yesterday seeking to withdraw their foreign currency, forcing some banks to seek police intervention to con...Published: 12 Dec 2021 at 19:56hrs | 8 | by Staff reporter
Govt to send health attachés to other countries
Government is committed to improving the expertise of its health services through financing their advanced education and is working on sending personnel to foreign countries as health attachés....Published: 12 Dec 2021 at 19:52hrs | 7 | by Staff reporter
POSB extends banking hours
The People's Own Savings Bank (POSB) has extended banking time by four hours to cater for the surge in demand for civil servants' foreign currency payouts.In a public notice, POSB said its ban...Published: 12 Dec 2021 at 19:51hrs | 5 | by Staff reporter
War vets stage demo over bonus delays
THERE was commotion at the Peoples Own Savings Bank (POSB) in Masvingo Thursday when war veterans and government pensioners staged a demonstration over delays to pay them their 13th cheque in hard cur...Published: 03 Dec 2021 at 05:38hrs | 6 | by Staff reporter
Who is Sybeth Musengezi?
IN the aftermath of his High Court application challenging his own party Zanu-PF over how it unconstitutionally and illegally convened, constituted and conducted a Central Committee meeting on 19 Nove...Published: 27 Nov 2021 at 16:57hrs | 10 | by Staff reporter
Musengezi claims to have strong case against Mnangagwa
Zanu-PF member Sybeth Musengezi, also a local businessman and economist, says he has a strong case against the ruling party which installed President Emmerson Mnangagwa at its helm unconstitutionally ...Published: 27 Nov 2021 at 16:53hrs | 7 | by Staff reporter
NetOne intensifies electronic airtime recharge
THE mobile markets in Africa are for the most part prepaid, with the traditional means of distribution being the sale of scratch cards.It is no secret that this distribution channel has brough...Published: 07 Nov 2021 at 07:07hrs | 10 | by Staff reporter
Of sanctions and misgovernance
Am writing this piece after 1 year since I wrote on sanctions and with this small piece I think I will manage to clarify the position on sanctions, however, democracy dictates that one is free to agre...Published: 25 Oct 2021 at 20:48hrs | 1 | by Kumbirai Stein Chivhuna
NSSA, banks in talks over charges
THE National Social Security Authority (NSSA) says it has lined up a cocktail of incentives to improve pensioners' incomes, including removing bank charges.Nssa deputy director for social secu...Published: 17 Sep 2021 at 06:23hrs | | by Staff reporter
Govt mulls merger of six banks into three entities
A PROPOSAL to merge six financial institutions into three big ones is being considered by the Zimbabwean government, in a different consolidation process from the CBZ Holdings, ZB Financial Holdings, ...Published: 10 Sep 2021 at 18:53hrs | 6 | by Staff reporter
POSB gets Cabinet nod to list on ZSE
POSB expects the proposal for the listing of the Bank on the stock exchange to be finalised and ready for consideration by Cabinet in the second half of the year 2021, company executives revealed. ...Published: 09 Aug 2021 at 07:33hrs | | by Staff reporter
Collateral-free loans for pensioners
PENSIONERS are set to benefit from collateral-free loans through a new facility that has been developed by the National Social Security Authority (NSSA).This is the latest in a number of initi...Published: 08 Aug 2021 at 07:19hrs | 1 | by Staff reporter
Bank card cloner gets away with $3m
A-29-YEAR-OLD suspected fraudster yesterday appeared before a Harare magistrate after he allegedly withdrew $3 million from various depositors' bank accounts using cloned cards.Tinotenda Chiny...Published: 15 Jun 2021 at 06:19hrs | | by Staff reporter
Privatization plans off rails
In November 2018, the Zimbabwean government set out a privatization plan to dispose completely and partially privatize over 23 state entities and parastatals (SEPs). According to the Auditor General R...Published: 07 May 2021 at 15:41hrs | | by Victor Bhoroma
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