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'Zimbabwe Reserve Bank is not creating money'
The Sunday Mail Editor Victoria Ruzvidzo (VR) had a no-holds-barred interview with RBZ Governor Dr John Mangudya (JM) on the latest developments in the economy, among them suspension of bank lending, ...Published: 22 May 2022 at 08:26hrs | 183 | by Staff reporter
Mnangagwa's govt bullish on Zupco viability
THE government is bullish on the profitability and viability prospects of the Zimbabwe United Passengers Company (Zupco) following the opening up of the public transport sector to private players....Published: 21 May 2022 at 18:27hrs | 150 | by Staff reporter
Zimbabwe: Class IN itself versus Class FOR itself
US goose versus NED ganderTHERE is always more to write about than there is space to publish. Last week I had to drop two key matters, to allow myself to address in extenso what I sought to ra...Published: 21 May 2022 at 17:53hrs | 53 | by Staff reporter
Basic goods disappear from shelves in Zimbabwe
SOME basic commodities such as cooking oil have virtually disappeared from shop shelves as the monthly food basket shot to $120 000.The Consumer Council of Zimbabwe (CCZ) yesterday said a fami...Published: 20 May 2022 at 06:31hrs | 2047 | by Staff reporter
Zimbabwe govt reduces fuel prices
Mandatory blending of ethanol in unleaded petrol has been increased from 10 percent to 20 percent at the end of this month to reduce fuel price increases on the global market and give a relief to ...Published: 18 May 2022 at 18:45hrs | 580 | by Staff reporter
Ethanol blending up increased to 20% to kill injectors
Mandatory blending of ethanol in unleaded petrol has been increased from 10 percent to 20 percent at the end of this month to reduce fuel price increases on the global market and give a relief to ...Published: 18 May 2022 at 06:18hrs | 464 | by Staff reporter
RBZ auction rate reaches $258
The auction rate, the weighted average of successful bids on the Reserve Bank of Zimbabwe foreign currency auction for productive businesses, fell from $173,2685 to the US dollar last week to $258,540...Published: 18 May 2022 at 06:18hrs | 659 | by Staff reporter
'RBZ's currency auction a headache'
THE Confederation of Zimbabwe Industries (CZI) yesterday told Parliament that the country's foreign currency auction system was problematic, resulting in a huge backlog.Giving oral evidence be...Published: 17 May 2022 at 06:38hrs | 1795 | by Staff reporter
MPs gang up against Mthuli Ncube over Mnangagwa measures
LEGISLATORS across the political divide joined hands in strongly condemning recent economic containment measures introduced by President Emmerson Mnangagwa, saying they were piece-meal and counterprod...Published: 15 May 2022 at 06:13hrs | 2228 | by Staff reporter
RBZ to name firms taking bank loans to black market
THE Reserve Bank of Zimbabwe (RBZ) has unearthed an elaborate practice by some big corporates in the country, who were borrowing large amounts of money from banks which they would then channel into th...Published: 15 May 2022 at 06:12hrs | 905 | by Staff reporter
'The Reserve Bank is not creating money'
The Sunday Mail Editor Victoria Ruzvidzo (VR) had a no-holds-barred interview with RBZ Governor Dr John Mangudya (JM) on the latest developments in the economy, among them suspension of bank lending, ...Published: 15 May 2022 at 06:12hrs | 304 | by Staff reporter
Zimbabwe loans suspension review this week
The Reserve Bank of Zimbabwe (RBZ) will this week review the suspension of bank lending that was recently announced, as it moves to investigate contractors on allegations they have been fuelling the p...Published: 15 May 2022 at 06:11hrs | 394 | by Staff reporter
Mnangagwa guns for economic hitmen
PRESIDENT Emmerson Mnangagwa's administration has launched a massive clampdown on some big corporates suspected of conniving with local banks to borrow billions of Zimbabwean dollars which they used t...Published: 13 May 2022 at 19:14hrs | 392 | by Staff reporter
Zimdollar worries industry
THE Confederation of Zimbabwe Industries (CZI) is having sleepless nights over an overvalued Zimbabwean dollar (Zimdollar), which is now undermining the scope for maximising structural efficiency and ...Published: 13 May 2022 at 19:09hrs | 170 | by Staff reporter
Govt cracks down on speculators
GOVERNMENT is clamping down on big corporates, which borrowed billions of Zimbabwe dollars and used the money for speculative activities while taking advantage of exchange rate movements to push up pr...Published: 13 May 2022 at 19:02hrs | 110 | by Staff reporter
Bank lending freeze targets big corporates enjoying 'arbitrage profits'
HARARE - The Zimbabwe government is clamping down on big corporates which borrowed billions in Zimbabwean dollars and allegedly used the money for speculative activities.Authorities say the co...Published: 13 May 2022 at 14:50hrs | 1175 | by Staff Reporter
Chamisa's CCC slams Mnangagwa
The Citizens Coalition for Change (CCC) on Wednesday vowed a robust challenge to controversial measures to shore up the fast-depreciating Zimbabwe dollar, announced by President Emmerson Mnangagwa las...Published: 11 May 2022 at 19:10hrs | 550 | by Staff reporter
Zimbabwe to miss 2022 GDP forecast
ZIMBABWE will most likely miss its 5,5% gross domestic product (GDP) forecast due to prolonged hyper-inflationary conditions as the country's local currency continues to tumble against the United Stat...Published: 11 May 2022 at 09:12hrs | 98 | by Staff reporter
'Zimbabwe army will step in if Zanu-PF loses in 2023, calls for dialogue'
LITTLE known opposition Ideas Party for Democracy (IDP) president, Herbert Chamuka, has warned Zimbabwe Defence Forces (ZDF) commander, Valerio Sibanda, might step in to save ruling Zanu-PF if it lose...Published: 10 May 2022 at 07:48hrs | 5765 | by Staff reporter
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 | 1196 | by Staff reporter
'Mnangagwa's govt killing Zimdollar'
GOVERNMENT'S short-term financing mechanisms to fund its programmes are the major contributors to the depreciation of the local currency, the Zimbabwe National Chamber of Commerce (ZNCC) has noted....Published: 10 May 2022 at 07:46hrs | 907 | by Staff reporter
Retailers defy Mnangagwa on pricing
RETAILERS have defied President Emmerson Mnangagwa's directive to adhere to the official interbank rate when pricing goods.On Saturday, Mnangagwa announced a raft of measures aimed at controll...Published: 10 May 2022 at 07:46hrs | 700 | by Staff reporter
No plans to dump Zimdollar
FINANCE deputy minister Clemence Chiduwa yesterday said the government had no plans to dump the free-falling Zimbabwe dollar, adding that authorities would instead ramp up surveillance and penalise bu...Published: 05 May 2022 at 07:13hrs | 1806 | by Staff reporter
Govt urged to address issues fuelling inflation
TRADE unions have urged Government to promote dialogue among social partners to address issues revolving around the welfare of workers and whip into line cartels which are fuelling inflation.T...Published: 02 May 2022 at 07:59hrs | 86 | by Staff reporter
Domestic airports rehab forecast to boost tourism
PLAYERS in the tourism industry have welcomed the ongoing airports rehabilitation programme by the Airports Company of Zimbabwe (ACZ) saying this will complement efforts to grow the tourism sector to ...Published: 02 May 2022 at 07:52hrs | 38 | by Staff reporter
Chamisa tells Mnangagwa to throw away the Zimdollar
OPPOSITION Citizens Coalition for Change (CCC) leader Nelson Chamisa yesterday told President Emmerson Mnangagwa to throw away the Zimbabwe dollar as a matter of urgency."Stop the auction syst...Published: 30 Apr 2022 at 16:25hrs | 801 | by Staff reporter
Chamisa advises government on solving economic crisis
CCC President Nelson has called upon government to abolish the auction system and go for full dollarization in order to stop multiple pricing and bring stability in the market. In a Twitter th...Published: 29 Apr 2022 at 08:46hrs | 4837 | by Mandla Ndlovu
'Cartels controlling Zimbabwe fuel sector'
THE Zimbabwe Coalition on Debt and Development (Zimcodd) has alleged that the country's fuel sector is run by cartels that are manipulating fuel prices.In its weekly review on socio-economic d...Published: 28 Apr 2022 at 09:04hrs | 1283 | by Staff reporter
Human rights group exposes rampant violations of female waste pickers' rights
The Matabeleland Institute for Human Rights (MIHR) have revealed that female waste pickers in Bulawayo face challenges ranging from lack of protective clothing, poverty, very low prices of the picking...Published: 28 Apr 2022 at 07:26hrs | 151 | by Stephen Jakes
Zera's continued excessive fuel price increases worry Zimcodd
The Zimbabwe Coalition on Debt and Development (Zimcodd) has expressed worry over the continued excessive increase of fuel price by the Zimbabwe Energy Regulatory Authority (Zera).The worry ca...Published: 27 Apr 2022 at 08:06hrs | 1038 | by Stephen Jakes
Temba Mliswa calls for return of the US Dollar
Norton Member of Parliament Temba Mliswa says the introduction of the United States Dollar as a single currency is the best salvation to the revival of Zimbabwe's economy. In a Twitter thread ...Published: 26 Apr 2022 at 10:24hrs | 4104 | by Mandla Ndlovu
Fuel hikes to worsen economic woes
GOVERNMENT yesterday increased prices of petrol and diesel by 23.78% and 18.23% respectively, a move that economists said will result in a hike in prices of basic goods and services and further erode ...Published: 26 Apr 2022 at 08:21hrs | 175 | by Staff reporter
Please help and protect the rural consumer
Urbanites by way of proximity to big supermarkets are enjoying wallet-friendly monetary rates whilst rural villagers are singing the blues. Pensioners and communal farmers buy all basic commod...Published: 12 Apr 2022 at 16:42hrs | 342 | by Tondo Murisa
SA faces severe cooking oil crisis
Some experts are predicting that consumers can expect to pay up to R120 for two litres of cooking oil soon due to a severe shortage of oilseed products, according to the commercial director of Souther...Published: 12 Apr 2022 at 06:24hrs | 291 | by Staff reporter
Experts laud liberalisation of foreign exchange market
The move by the Reserve Bank of Zimbabwe (RBZ) to liberalise the foreign exchange market by allowing banks to conduct foreign exchange transactions of up US$1 000 in which individuals and corporates c...Published: 08 Apr 2022 at 09:16hrs | 388 | by Staff reporter
Prices in Zimbabwe run riot!
THE economic malaise has deepened in recent weeks as the cost of living is spiralling out of control with prices soaring by about 30% during the first week of April. This has plunged households into e...Published: 08 Apr 2022 at 08:22hrs | 1007 | by Staff reporter
Potraz defends data tariff hikes
THE Postal and Telecommunications Regulatory Authority (Potraz) yesterday justified data tariff hikes by telecommunications operators saying the telcos were actually operating below profitable thresho...Published: 05 Apr 2022 at 06:47hrs | 226 | by Staff reporter
Financial Intelligence raids Shangri-La restaurant over pricing
The FINANCIAL Intelligence Unit of Zimbabwe recently raided Shangri-La restaurant for converting prices of a product using an exchange rate above the official rate.According to a letter ...Published: 03 Apr 2022 at 12:56hrs | 2737 | by Stephen Jakes
RBZ to double down in inflation fight
Reserve Bank of Zimbabwe (RBZ) will deploy various monetary tools at its disposal to stem out rampant "market indiscipline" that it believes is driving price increases.Market indiscipline, the...Published: 03 Apr 2022 at 08:20hrs | 189 | by Staff reporter
Zimbabwe economy urgently needs tax reforms
For the fourth consecutive year, the Zimbabwe Revenue Authority (ZIMRA) has been exceeding budgeted quarterly and annual revenue targets (in ZW Dollar and in US Dollar terms). Even though the economy ...Published: 01 Apr 2022 at 12:40hrs | 1449 | by Victor Bhoroma
Mthuli Ncube's economic projections unrealistic
ECONOMIC analysts have dismissed Finance minister Mthuli Ncube's inflation and economic growth forecasts as unrealistic as they did not factor in the rising global oil crisis and the country's gallopi...Published: 25 Mar 2022 at 06:03hrs | 102 | by Staff reporter
Unfriendly' states to pay for Russian gas in roubles
Russia will refuse to accept payment for natural gas supplies in ‘compromised' currencies, including the dollar and the euro, and will move to payments in roubles, President Vladimir Putin said yest...Published: 24 Mar 2022 at 05:16hrs | 596 | by Staff reporter
Gweru bouncer hangs self
THE Zimbabwe Energy Regulatory Authority (Zera) has reviewed downwards the price of fuel in line with the prevailing international oil prices.The move brings relief to motorists who have exper...Published: 22 Mar 2022 at 05:44hrs | 743 | by Staff reporter
Fuel prices drop for Zimbabweans
THE Zimbabwe Energy Regulatory Authority (Zera) has announced a drop in the price of fuel for this week in accordance with the trends on the international market.In a public notice today, Zera...Published: 22 Mar 2022 at 05:44hrs | 498 | by Staff reporter
CBD parking fees furore escalates
THE public backlash against the Bulawayo City Council's contentious parking management system in the city centre continues to escalate with more residents blasting council for failure to adequately co...Published: 22 Mar 2022 at 05:44hrs | 342 | by Staff reporter
Zimbabwean toast fuel price cut
The cut in fuel prices by 8 US cents a litre following Government tax cuts has been welcomed by businesses and motorists who have been feeling the pinch after prices rose swiftly following the big jum...Published: 22 Mar 2022 at 05:41hrs | 133 | by Staff reporter
Zanu-PF has already won by-elections, says Chiwenga
VICE-PRESIDENT Constantino Chiwenga yesterday said Zanu-PF had already won the March 26 by-elections and told party members to start celebrating.Speaking during the launch of the public procur...Published: 21 Mar 2022 at 06:42hrs | 882 | by Staff reporter
Zanu-PF has already won by-elections, says Chiwenga
VICE-PRESIDENT Constantino Chiwenga yesterday said Zanu-PF had already won the March 26 by-elections and told party members to start celebrating.Speaking during the launch of the public procur...Published: 19 Mar 2022 at 06:49hrs | 562 | by Staff reporter
People have lost confidence in Zimdollar, says Minister
GOVERNMENT has all but admitted that Zimbabweans have lost confidence in the local currency, saying it was aware people were trooping to the black market to buy foreign currency to avoid a repeat of 2...Published: 19 Mar 2022 at 06:48hrs | 714 | by Staff reporter
Mthuli Ncube rules out US$ dollar payment to farmers
FINANCE minister Mthuli Ncube has ruled out paying farmers in United States dollars for maize deliveries, but said there were exceptions for those growing export-oriented cropsThere are wider ...Published: 18 Mar 2022 at 05:38hrs | 748 | by Staf reporter
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