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SA-based Diaspora Kapita to issue US$10m bond in Zimbabwe
South Africa-based investment holding firm Diaspora Kapita (DK) is set to make waves in the Zimbabwean financial landscape as it prepares to list on the Victoria Falls Stock Exchange (VFEX) and raise ...Published: 02 Dec 2024 at 07:16hrs | 192 | by Staff reporter
ZiG spawns upheavals in insurance industry
Insurers have been scrambling to reassure policyholders as market jitters resurface in the wake of the introduction of Zimbabwe Gold (ZiG) in April. With memories of the devastating currency shifts in...Published: 24 Nov 2024 at 10:13hrs | 253 | by Staff reporter
New Zimbabwe High Court Judge faces scrutiny over lawsuit against CIMAS
Justice Phillipa Phillips-Sadza, appointed to the High Court bench in June this year, is embroiled in a legal dispute with CIMAS, a prominent medical aid society, over an alleged mishandling of her me...Published: 14 Nov 2024 at 13:17hrs | 936 | by Staff reporter
RBZ blames speculative behaviour for ZiG's woes
The Reserve Bank of Zimbabwe (RBZ) has attributed the recent collapse of the newly introduced Zimbabwe Gold (ZiG) currency to rampant rent-seeking behavior and speculative activities within the parall...Published: 20 Oct 2024 at 14:12hrs | 236 | by Staff reporter
It's time African leaders were barred from foreign medical care!
So, the people of Cameroon have no idea where their president is. Paul Biya, who is now the oldest head of state in the world, at 91 years old, has not been seen in public for the past three m...Published: 09 Oct 2024 at 10:51hrs | 1106 | by Tendai Ruben Mbofana
'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
Old Mutual's O'mari launches home insurance solution
O'mari, the fintech subsidiary of Old Mutual Zimbabwe, has announced the launch of its new digital-first, low-cost home insurance product 'O'mari HomeCare', underwritten by Old Mutual Zimbabwe Insuran...Published: 15 Aug 2024 at 17:56hrs | 386 | by Simbarashe Sithole
NMBZ optimistic on ZiG inflation-easing impact
Listed financial services provider, NMBZ Holdings Limited, has expressed optimism about the inflation-easing impact of the new Zimbabwe Gold (ZiG) currency, following a 209% revenue increase in the fi...Published: 21 May 2024 at 08:27hrs | 1 | by Staff reporter
Ex-Zipra war vet gets ZiG200 funeral payout
A former Zimbabwe People's Revolutionary Army (Zipra) veteran based in Bulawayo, who participated in the liberation struggle, has accused a prominent insurance broker of offering inadequate funeral pa...Published: 19 May 2024 at 12:38hrs | 4 | by Staff reporter
Econet launches mobile phone insurance
Econet Insurance, a leader in innovative short-term insurance solutions, has launched a new package covering mobile phone damage. Named Moovah Mobile Phone Insurance, the package was developed in resp...Published: 18 May 2024 at 11:00hrs | 4 | by Staff reporter
Private sector against third party insurance takeover
THE government's decision to take over the running of third-party insurance will crowd out the private sector and result in bureaucratic inefficiencies around claims processing, which will destroy eco...Published: 07 Apr 2024 at 10:21hrs | 1 | by Staff reporter
'Zimbabwe is a case study of hardships people will face in hell'
Obert Masaraure, the president of the Amalgamated Rural Teachers' Union of Zimbabwe (ARTUZ), drew a striking analogy, likening Zimbabwe's current state to a grim portrayal of Gehenna, as described in ...Published: 01 Apr 2024 at 21:29hrs | 16 | by Staff reporter
Zimbabweans prepare more for death than life
Zimbabweans prepare more for death than life with 76% of all insurance taken being funeral policies, Old Mutual Zimbabwe Group CEO, Samuel Matsekete has said.The uptake of life policies is low...Published: 11 Mar 2024 at 07:34hrs | 1 | by Staff reporter
The Role of Autonomous Vehicles in the Future of Car Hire Services
The car rental industry stands at the crossroads of innovation and transformation. As we navigate the current landscape, characterized by traditional rental models and evolving customer preferences, a...Published: 20 Feb 2024 at 10:56hrs | 18 | by Staff Reporter
High Court quashes former Air Zimbabwe bosses' convictions
THE High Court has upheld an appeal by former Air Zimbabwe bosses Peter Chikumba and Grace Pfumbidzai who were challenging their conviction for swindling the airline of $10 million.Chikumba, A...Published: 31 Jan 2024 at 04:50hrs | 8 | by Staff reporter
Zimbabwe govt 'sabotaged' de-dollarisation plan, says Biti
Former Finance minister Tendai Biti has said government's forceful nature of its policies to adopt the volatile Zimdollar sabotaged plans to de-dollarise the economy .The local currency has be...Published: 04 Dec 2023 at 04:48hrs | 10 | by Staff reporter
Zimdollar maintains stable range on RBZ Auction, parallel market
The Zimbabwean dollar has maintained a stable range on both the Reserve Bank of Zimbabwe (RBZ) Foreign Exchange Auction and the parallel market platforms in recent weeks, according to a trading update...Published: 23 Nov 2023 at 05:45hrs | | by Staff reporter
Zimdollar weakens by 0.75%
The Zimbabwean dollar (ZWL) experienced a slight 0.75% depreciation on the Reserve Bank of Zimbabwe's (RBZ) Foreign Exchange Auction this week. This was due to a substantial allocation of foreign curr...Published: 11 Oct 2023 at 06:30hrs | | by Staff reporter
Zimdollar recovery diminishes telecommunications services providers' tariff hikes prospects
THE steady recovery of the ZW$ in recent weeks almost diminishes recent calls by mobile telecommunications services providers, making it difficult to ascertain where exactly to place the peg.T...Published: 20 Jul 2023 at 06:49hrs | 2 | by Staff reporter
'Greedflation' rocks Zimbabwe
THE ZW$ gained by 4,8% on the Reserve Bank of Zimbabwe Foreign Exchange Auction Tuesday amid concerns that most retailers remain reluctant to reduce prices of basic goods.A trading update rele...Published: 12 Jul 2023 at 08:13hrs | 2 | by Staff reporter
Zimdollar in first time gain on RBZ Auction
THE ZW$ value firmed up by 8,6% on the Reserve Bank of Zimbabwe Auction platform , signalling improved widespread usage of the local currency on the back of the economy's swift response to economic me...Published: 28 Jun 2023 at 20:27hrs | | by Staff reporter
Zimdollar takes a heavy knock on RBZ Auction
THE Zimdollar tumbled by 43% on the Reserve Bank of Zimbabwe (RBZ) Foreign Exchange Auction market effectively closing the parallel market gap which had become a source for market arbitrage in recent ...Published: 06 Jun 2023 at 17:58hrs | 1 | by Staff reporter
ZCBTA statement on scrapping of duty on basic commodities
The Zimbabwe Cross Border Traders Association (ZCBTA) commends the Minister of Finance for taking appropriate steps to protect ordinary citizens and other vulnerable groups in Zimbabwe from negative i...Published: 23 May 2023 at 14:33hrs | 5 | by Erick Matotoba
Zimdollar tanks
THE ZWL value breached the US$1: ZWL1,000 mark on the Reserve Bank of Zimbabwe (RBZ) Foreign Exchange Auction this week in a development moving towards closing the gap created by the official market r...Published: 20 Apr 2023 at 07:39hrs | | by Staff reporter
Zimbabwe telcos in another staggered price review
ZIMBABWE'S main telecommunication companies are set for another price adjustment on April 1, 2023, as operator battle to offset rising operational costs.The telecoms industry will review tarif...Published: 21 Mar 2023 at 20:24hrs | 2 | by Staff reporter
OyOs announces official release of the OyOs Online Stores and the OyOs Chatbot
OyOs hereby announces the official release of two top of the range IT related products onto the Zimbabwean digital space, OyOs Online Store and the OyOsBOt. OyOs standing for Own Your Online Store is ...Published: 08 Mar 2023 at 22:28hrs | 18 | by Agencies
Zimdollar official rate converges with black market premium on RBZ Auction
THE Zimdollar official exchange rate has converged with the parallel market premiums while at the same time falling within internationally acceptable margins the Reserve Bank of Zimbabwe (RBZ) Foreign...Published: 15 Feb 2023 at 05:04hrs | | by Staff reporter
'Zimbabwe's $5 000 withdrawal limit no longer adequate'
THE transacting public has implored the Reserve Bank of Zimbabwe (RBZ) to consider increasing cash withdrawal limits saying the weekly $5 000 cap is no longer convenient given the exchange rate moveme...Published: 02 Feb 2023 at 08:24hrs | | by Staff reporter
Mthuli Ncube rules out income tax relief
FINANCE minister Mthuli Ncube (pictured) says raising the income tax threshold again after the previous one in August would have been too soon because widening this tax relief further is dependent on ...Published: 02 Dec 2022 at 04:58hrs | | by Staff reporter
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
Is Zimbabwe's new gold coin evidence of a broader global trend?
Saber rattling by the Chinese Communist Party stoked investor fears this week, putting upward pressure on gold prices. CCP officials felt aggrieved by House Speaker Nancy Pelosi's visit to Taiwan, whi...Published: 09 Aug 2022 at 08:20hrs | 2 | by Mike Gleason
Africanise the law and land
In Mzansi, most citizens can only own real estate when they are dead - their graves and tombstones if they can afford one. From the living majority, they become the silent majority.Throughout ...Published: 27 Jul 2022 at 19:29hrs | 1 | by Lindiwe Sisulu
African Mining Sector Set for Strong Growth in 2022
Johannesburg - 16 May 2022 - With mining companies currently enjoying high prices, exceptional production performance and robust supply chains, the mining team from Stanbic Bank's parent company, Stan...Published: 16 May 2022 at 11:52hrs | 16 | by Mark Buncombe, Head of Mining and Metals at Standard Bank Group
Outcry over insurance service gaps
THE Insurance Council for Zimbabwe (ICZ) was inundated with widespread complaints from the public over lack of transparency by insurers.This was highlighted at the recently held Zimbabwe Inter...Published: 13 May 2022 at 19:10hrs | 1 | by Staff reporter
Zesa on brink of collapse
ZIMBABWE risks sinking into a deeper power crisis amid reports that the country's power utility Zesa is on the brink of collapse due to an unsustainable tariff regime, NewsDay has learnt.The p...Published: 13 May 2022 at 19:06hrs | 1 | by Staff reporter
Econet partners Harare, Capitol for insurance scheme
Econet Insurance, a subsidiary of EcoCash Holdings Zimbabwe, has partnered with Capitol Insurance Brokers and City of Harare to launch CitySure, a one-stop-platform that allows residents to buy insura...Published: 15 Apr 2022 at 08:57hrs | | by Staff reporter
Zimbabwe faces cooking oil shortage
Zimbabwe is facing fresh cooking oil shortages following a sharp increase in edible oil prices on the international markets and foreign currency shortages leading to viability challenges f...Published: 08 Apr 2022 at 09:17hrs | 7 | by Staff reporter
Zimdollar in worst freefall on auction
THIS week the Zimbabwean dollar (Zimdollar) dropped by yet another noteworthy margin against the greenback, on the auction market.The Zimdollar has lost value in each of the 10 trading weeks s...Published: 25 Mar 2022 at 17:57hrs | | by Respect Gwenzi
Headwinds piling up for Zimbabwe
The United States Agency for International Development (USAid)'s food security arm, the Famine Early Warning Systems Network (Fewsnet) has warned of below average harvests this year and a shortlived i...Published: 18 Mar 2022 at 05:37hrs | | by Staf reporter
Currency: The long road of pain awaiting Zimbabwe
IN June 2019, the Zimbabwe dollar was officially reintroduced as the main legal tender for domestic transactions in the country amid scepticism from the general public concerning its sustainability. T...Published: 17 Mar 2022 at 05:49hrs | | by Staff reporter
ZSE inches closer to $2 trillion
MARKET capitalisation on the Zimbabwe Stock Exchange (ZSE) inched closer to $2 trillion on Monday, after gaining 40% since the beginning of the year, according to official data.As of yesterday...Published: 09 Mar 2022 at 07:01hrs | 1 | by Staff reporter
UZ employees down tools
UNIVERSITY of Zimbabwe (UZ) employees downed tools yesterday citing incapacitation.This follows a declaration of incapacitation by teachers since schools opened on February 7 as they demanded ...Published: 22 Feb 2022 at 05:42hrs | | by Staff reporter
Zimbabwe rules out US dollar return
VICE President Constantino Chiwenga has declared Zimbabwe will never revert to the dollarisation era despite evidence the Zimdollar is sharply weakening.Economists have even warned the local c...Published: 21 Feb 2022 at 05:37hrs | | by Staff reporter
Chiwenga threatens
VICE-President Constantino Chiwenga yesterday threatened black market money traders with long jail terms and declared that the country will not redollarise despite a sharp weakening of the Zimdollar....Published: 21 Feb 2022 at 05:35hrs | | by Staff reporter
Zesa workers go on strike claiming 'incapacitation'
Zimbabwe's embattled power utility ZESA faces a crippling strike by workers demanding better pay.The Zimbabwe Energy Workers Union (ZEWU) says ZESA has "mistaken our patience for a weakness", ...Published: 15 Feb 2022 at 19:09hrs | 6 | by Staff reporter
CZI urges RBZ to fine tune auction
The Confederation of Zimbabwe Industries (CZI) says the Reserve Bank of Zimbabwe (RBZ) should only sell foreign currency that it has already received to avoid creating backlogs from auctioning unreali...Published: 03 Feb 2022 at 05:34hrs | | by Staff reporter
Nyaradzo effects 300% premium increases
Covid-19 has decimated economies leaving people with little or no money to spend on basic essentials like food, health and funeral insurance among others.With prolonged lockdowns in many count...Published: 01 Feb 2022 at 05:27hrs | 1 | by Staff reporter
Doves faces two counts of fraud
DOVES Funeral Services faces two counts of fraud following a bizarre case in which the company last year buried two bodies in one coffin to cover a body mix-up.The mix-up in March 2021 saw Dov...Published: 30 Jan 2022 at 08:22hrs | 6 | by Staff reporter
Doves burial scandal: New details emerge
DOVES Funeral Services allegedly stuffed blankets and plastic bags inside the coffin meant to have carried the remains of the late Maxwell Chimwamurombe, in the latest twist to the burial saga of the ...Published: 30 Jan 2022 at 08:15hrs | 1 | by Staff reporter
Zinara dismisses licence fees hike
Zinara yesterday reported that its motor vehicle licensing system was overwhelmed as far more motorists than normal rushed to buy the basic third party insurance and licence their vehicles for another...Published: 25 Jan 2022 at 05:32hrs | 21 | by Staff reporter
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