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Mnangagwa warned of brewing unrest
THERE are growing fears that Zimbabwe's fast-deteriorating economic situation - marked by shocking price hikes and severe shortages of foreign currency, fuel and vital medicines - could trigger social...Published: 11 hrs ago | 12308 | by Staff reporter
Price madness: Manufacturers blame retailers
MANUFACTURES have blamed retailers for the price madness prevailing on the market, accusing them of unethically adding high-profit margins on products, hence suffocating the consuming public.C...Published: 11 hrs ago | 1408 | by Staff reporter
Strive Masiyiwa's maths on Rand pricing is wrong
A lot of publications have run with this story already but I couldn't find the original Facebook post. Strive Masiyiwa posts extensively and engages quite much on his page so I spent an hour trying to...Published: 22 Apr 2019 at 11:08hrs | 4266 | by Tinashe Nyahasha
'Collateral registry to be operational by December'
THE Reserve Bank of Zimbabwe (RBZ) is set to operationalise the collateral registry system by year end as authorities move to make movable property securitisable, an official has said.The driv...Published: 21 Apr 2019 at 08:49hrs | 189 | by Staff reporter
Angry Mnangagwa lashes 'unpatriotic and inhumane' forces
PRESIDENT Emmerson Mnangagwa yesterday accused some businesses of being "unpatriotic and inhumane" following the recent sharp hikes in the prices of basic consumer goods around the country.At ...Published: 19 Apr 2019 at 11:10hrs | 2444 | by Staff reporter
Rebirth of the Zimdollar
Zimbabwean central bank authorities have a traceable record of overnight monetary policy changes. Memories of the former Reserve Bank of Zimbabwe (RBZ) governor Gideon Gono era of monetary policy hip-...Published: 19 Apr 2019 at 11:09hrs | 1363 | by Paddington Masamha
Why Mthuli Ncube's new currency is likely to be doomed
THE announcement by Finance minister Mthuli Ncube of his intention to introduce "a new, fully-fledged currency" in 12 months piqued the interest of the general public in Zimbabwe.It comes soon...Published: 19 Apr 2019 at 11:08hrs | 653 | by Martin Tarusenga
Zimbabwe marks 39th Independence Day amid economic crises
Thousands of people will gather today to watch a military-civilian parade in the capital, Harare, as Zimbabwe marks the 39th anniversary of its independence from Britain.Thousands of people ar...Published: 18 Apr 2019 at 07:19hrs | 380 | by Staff reporter
Zimbabwe black market running amok
GOVERNMENT is facing renewed pressure on the economic front, with the parallel foreign currency market once again running amok — pushing the prices of basic consumer goods like bread beyond the reac...Published: 17 Apr 2019 at 07:25hrs | 30735 | by Staff reporter
Zimbabwe needs a weak currency to stimulate production, exports
Shortly after the government was sworn in August 2018, they agreed to an economic and monetary reform programme. Since then, much of this ambitious plan has been implemented and the consequences have ...Published: 17 Apr 2019 at 07:15hrs | 1200 | by Eddie Cross
RTGS$ to stabilise, gain value, insists Mthuli Ncube
FINANCE and Economic Development Minister, Professor Mthuli Ncube, has expressed confidence that the RTGS dollar will stabilise and gain value beyond the prevailing market volatility as Government for...Published: 17 Apr 2019 at 07:02hrs | 3287 | by Staff reporter
Allow Zimbabweans to trade in Gold, Diamonds and other minerals
Lets empower the people of Zimbabwe and allow them to trade in gold and diamond. I have travelled throughout Zimbabwe, and some of my family members are geologists and miners.I have seen some of them ...Published: 16 Apr 2019 at 07:34hrs | 1582 | by Engineer Jacob Kudzayi Mutisi
Chamisa's MDC unhappy with IMF assisting Zimbabwe
Cyclone Idai, which brought unprecedented destruction as incessant rain and gusty winds caused catastrophic damage, has prompted the International Monetary Fund (IMF) to agree to deepen the Fund's eng...Published: 15 Apr 2019 at 10:58hrs | 4023 | by Staff reporter
Mthuli Ncube triggers panic
LONG-suffering Zimbabweans should brace for even tougher economic times ahead, following last week's surprise announcement by Finance minister Mthuli Ncube that the country would have yet another curr...Published: 15 Apr 2019 at 10:56hrs | 19664 | by Staff reporter
Tobacco income down 76%
TOBACCO sales have generated $19,4 million in the first 17 days of the marketing season this year compared to $81 million realised over the same period last year, statistics from the industry regulato...Published: 15 Apr 2019 at 06:49hrs | 1157 | by Staff reporter
MDC against IMF's support for Zimbabwe
The proposed IMF Staff Monitored Program is an entry point for full support of the regime and it ignores the factors arresting the Zimbabwean economy. Zimbabwe has had a stolen election; ...Published: 13 Apr 2019 at 15:56hrs | 1512 | by Jacob Mafume
Zimbabwe economy stabilising, claims Mthuli Ncube
FINANCE minister Mthuli Ncube says Zimbabwe's economy is stabilising following the introduction of economic reforms announced under his Transitional Stabilisation Programme (TSP).Latest offici...Published: 13 Apr 2019 at 15:51hrs | 2002 | by Staff reporter
Massive retrenchments loom as Zimbabwe economy slows down
HUNDREDS of formal jobs are on the line in the economy as various businesses grapple with the realities of hyperinflation and exchange rate-induced losses. The market has witnessed massive price hikes...Published: 12 Apr 2019 at 09:14hrs | 4218 | by Victor Bhoroma
Mnangagwa fumes
PRESIDENT Emmerson Mnangagwa yesterday warned retailers and companies against "unjustified" price increases which he said had brought untold suffering to ordinary Zimbabweans.Incidentally, as ...Published: 12 Apr 2019 at 08:24hrs | 13364 | by Staff reporter
RBZ to monitor externalised shareholding
The Reserve Bank of Zimbabwe says it allows for companies operating in Zimbabwe to partially externalise their shareholding, but warned it will enhance monitoring mechanisms to ensure that the dispens...Published: 12 Apr 2019 at 07:29hrs | 341 | by Staff reporter
RBZ warns over wild interest rates
The Reserve Bank of Zimbabwe (RBZ) has warned domestic banks against arbitrary hikes of lending rates and called for a fine balancing act in dealing with cost and inflationary pressures to avoid tippi...Published: 12 Apr 2019 at 07:28hrs | 2099 | by Staff reporter
'Exports, investor confidence to jumpstart forex inflows'
The Reserve Bank of Zimbabwe (RBZ) says the country's forex situation will improve as the year progresses on the back of increased confidence and growing exports.RBZ deputy director for econom...Published: 12 Apr 2019 at 06:42hrs | 180 | by Staff reporter
IMF, Zimbabwe agree on policies & reforms
The International Monetary Fund and Government have reached agreement on macroeconomic policies and structural reforms that can underpin a Staff Monitored Programme. This follows a visit ...Published: 11 Apr 2019 at 07:30hrs | 1841 | by FinX
Ncubenomics
In February, Reserve Bank Governor, John Mangudya announced the introduction of the RTGS dollar - the currency that confirmed what we knew all along: one is not to one. The RTGS dollar was initially s...Published: 09 Apr 2019 at 15:19hrs | 3336 | by Kubatana
Facing national challenges: None but ourselves
In mid-March Zimbabwe together with Malawi and Mozambique fell victim to the violent and destructive Cyclone Idai which killed hundreds of people and left thousands displaced in these three southern A...Published: 08 Apr 2019 at 15:31hrs | 320 | by Nobleman Runyanga
Reserve Bank of Zimbabwe broke, says Biti
PARLIAMENT'S Public Accounts Committee chairperson Tendai Biti says the Reserve Bank of Zimbabwe (RBZ) is effectively broke after government ran up its overdraft facility with the bank to finance its ...Published: 08 Apr 2019 at 13:56hrs | 3068 | by Staff reporter
Facing national challenges: None but ourselves
In mid-March Zimbabwe together with Malawi and Mozambique fell victim to the violent and destructive Cyclone Idai which killed hundreds of people and left thousands displaced in these three southern A...Published: 08 Apr 2019 at 12:17hrs | 135 | by Nobleman Runyanga
Olivine shuts down margarine plant
AGROPROCESSING firm, Olivine Industries Private Limited, has closed its margarine plant, management has confirmed. Olivine used to produce Buttercup margarine, Olivine cooking oil and jade soap among ...Published: 08 Apr 2019 at 06:35hrs | 1550 | by Staff reporter
More fuel supplies for Bulawayo
BULAWAYO will during the internationally-acclaimed exhibition, the Zimbabwe International Trade Fair (ZITF) receive adequate fuel supplies to ensure the smooth running of the show, officials have said...Published: 07 Apr 2019 at 14:07hrs | 1765 | by Staff reporter
Mnangagwa's currency 'joke in bad taste'
AN off-hand comment regarding the local RTGS currency, by President Emmerson Mnangagwa has left the country's biggest opposition party, the MDC fuming.Mnangagwa told victims of Cyclone Idai in...Published: 07 Apr 2019 at 08:35hrs | 534 | by newzimbabwe
No fuel price hikes, says Jorum Gumbo
Government has no intention of adjusting current fuel prices, a Cabinet Minister has said, dismissing claims on social media that fuel prices will go up next week.Energy and Power Development ...Published: 05 Apr 2019 at 17:30hrs | 1506 | by Staff reporter
Beer prices go up again
THE price of clear beer has gone up again, hardly a month after Delta Corporation Limited increased the asking price of the commodity by 100 percent following the company's decision to sell some of it...Published: 05 Apr 2019 at 17:27hrs | 3649 | by newzimbabwe
RTGS$ introduction inflicts further pensioner prejudice
MANY pensioners now being paid in Real-Time Gross Settlement (RTGS) dollars against their will have reported a drastic reduction in the purchasing power of their pensions.The RTGS$ is a new na...Published: 05 Apr 2019 at 09:58hrs | 1062 | by Martin Tarusenga
Zimbabwe tobacco sales plummet 85%
Zimbabwe's tobacco sales have plunged 85% with deliveries reaching only 1,6 million kg in the first 10 days of trade compared to the 10,9 million kg sold last year, statistics from the industry regula...Published: 05 Apr 2019 at 07:14hrs | 1331 | by Staff reporter
Zimbabweans should brace for imminent interest rates hike
Finance and Economic Development minister Mthuli Ncube has warned the country to brace for an imminent rise in interest rates.Interest rates in the southern African nation have been capped at ...Published: 05 Apr 2019 at 06:38hrs | 1069 | by Staff reporter
Understanding the ZAMCO business model
There has been a lot of talk about the Zimbabwe Asset Management Company (Zamco) lately, particularly after the appearance of the Reserve Bank of Zimbabwe governor, John Mangudya, before the Parliamen...Published: 04 Apr 2019 at 07:02hrs | 507 | by Vince Musewe
Zimbabwean banks ask RBZ to lift interest-rate cap
Zimbabwe's lenders, which include units of Standard Bank Group and Ecobank, appealed to the central bank to raise interest rates that have been capped at 12% for the past two years, saying this would ...Published: 03 Apr 2019 at 20:22hrs | 1543 | by Bloomberg
RBZ grants 26 firms bureaux de change licences
THE Reserve Bank of Zimbabwe (RBZ) has issued licences to 26 institutions to operate as Bureaux de Change.In a notice, the RBZ said this is line with foreign exchange guidelines in the 2019 Mo...Published: 01 Apr 2019 at 21:38hrs | 1063 | by Staff reporter
Export incentives - Good Call on managing the trade deficit
The Reserve Bank of Zimbabwe (RBZ) introduced the Export Incentive Policy in September 2016 at 5% of Gross Export Receipts in order to improve production of minerals and tobacco. The policy was widene...Published: 01 Apr 2019 at 09:28hrs | 778 | by Victor Bhoroma
Parly committee urges transparency on debt
Chairperson of the Parliamentary Portfolio Committee on Finance and Budget, Felix Mhona, has called for transparency and accountability on the country's contracting of debts to avoid overburdening fut...Published: 01 Apr 2019 at 06:44hrs | 244 | by Staff reporter
Zesa insists on 30% tariff hike
Zesa Holdings insists that a 30 percent tariff increase is critical to ensure the country continues to enjoy a steady supply of electricity, as there would be funds to repair the transmission and dist...Published: 31 Mar 2019 at 23:52hrs | 1465 | by Staff reporter
US companies keen on Zimbabwe, says envoy
United States companies are keen to invest in Zimbabwe but they are wary of a violatile foreign currency exchange environment, American ambassador Brian Nichols has said.Nichols spoke to Stand...Published: 31 Mar 2019 at 10:05hrs | 832 | by Staff reporter
Reserve Bank of Zimbabwe betrays tobacco farmers
Tobacco sales floors were officially opened but farmers are frustrated and angry with the demeanour of the government. The Reserve Bank of Zimbabwe prior to the opening of the floors promised th...Published: 30 Mar 2019 at 18:04hrs | 1891 | by Matora Hupile
Zimbabwe inflation seen dropping below 15% by December
The RESERVE Bank of Zimbabwe (RBZ) expects inflation to tumble significantly to less than 15% this December, indicating that threats of receding to hyperinflation were remote.Last month, infla...Published: 30 Mar 2019 at 17:42hrs | 497 | by Staff reporter
Govt, Zimra authorities in standoff over 2% tax
A standoff - which disrupted the start of the tobacco marketing season last week - has erupted between the Finance Ministry and the Zimbabwe Revenue Authority (Zimra) over the operationalisation of th...Published: 29 Mar 2019 at 12:07hrs | 1594 | by Staff reporter
Government to introduce a new currency called E-Zollar by September?
In a pretexted bid to bring an end to the nation's perennial nightmarish currency woes, government is allegedly working on a secret plan to introduce a digital Zimbabwe dollar, as soon as a new curren...Published: 29 Mar 2019 at 09:00hrs | 29235 | by Spotlight
RTGS$ weakens 20% against the dollar
The RTGS dollar introduced by the Reserve Bank of Zimbabwe (RBZ) in its 2019 Monetary Policy Statement, has continued to weaken against major currencies as exporters continue to hold on to their US do...Published: 29 Mar 2019 at 06:27hrs | 3607 | by Staff reporter
Econet increases voice call tariffs
THE country's biggest cellular network, Econet Wireless Zimbabwe, has increased tariffs for local voice calls to as high as RTGS$2,24 per minute. The new tariff adjustments come into effect from...Published: 28 Mar 2019 at 23:42hrs | 2955 | by Staff reporter
Zimbabwe tobacco farmers hold firm to their crop
Tobacco farmers have continued to hold on to their crop amid reports that they have only delivered less than 10% of the golden leaf in the first five days of trading this year, citing poor prices and ...Published: 28 Mar 2019 at 07:48hrs | 1614 | by Staff reporter
Zimbabwe to import 900,000 tonnes of maize
Meanwhile, a Mauritius based firm, Afrigran Trading, has terminated its cereal supply contract with National Foods Limited (Natfoods) after the Reserve Bank of Zimbabwe (RBZ) failed to honour a US$55 ...Published: 28 Mar 2019 at 07:47hrs | 1089 | by Staff reporter
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