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Anxiety as Mnangagwa 'visits' RBZ
PRESIDENT Emmerson Mnangagwa made two surprise visits to the Reserve Bank of Zimbabwe on Tuesday, which generated a lot of anxiety among staff and the public after he spent a combined four hours at th...Published: 19 hrs ago | 7836 | by Staff reporter
Corruption is the main problem in Zimbabwe - Knight
Former ZBC radio Presenter Eric Knight has said corruption is the main vice that has gripped Zimbabwe which needs to be extricated."But seriously, in as much as the cash shortages problem is s...Published: 20 Sep 2018 at 06:50hrs | 965 | by Stephen Jakes
Chivayo trial continues
Businessman Wicknell Chivayo's trial is set to continue today at the Harare magistrates' court.The trial, which was supposed to start yesterday, failed to kick off since their magistrate was n...Published: 20 Sep 2018 at 06:16hrs | 95 | by Staff reporter
Bond notes flood Zimbabwe border towns
The Zimbabwe Cross Border Traders Association has called on Finance and Economic Development Minister Mthuli Ncube to investigate the source of bond notes and other currencies that have flooded the bl...Published: 19 Sep 2018 at 06:38hrs | 3350 | by Staff reporter
Zimbabwe to continue using multicurrencies
Zimbabwe's use of the multicurrency system will continue until such a time that the country's macroeconomic fundamentals have re-aligned, President Emmerson Mnangagwa said today in his inaugural State...Published: 18 Sep 2018 at 19:36hrs | 1976 | by Staff reporter
Mthuli Ncube moves to stabilise forex markets
The Government has negotiated several foreign currency facilities that are set to ease liquidity challenges in the economy, as well as curb parallel forex market activity, President Mnangagwa said tod...Published: 18 Sep 2018 at 16:33hrs | 5341 | by Staff reporter
Stunted exploration to stifle Zimbabwe gold output growth
Fidelity Printers and Refiners (Fidelity), the country's sole gold buyer, says gold output could hit 50 tonnes in two years on the back of a central bank support to the small-scale mining sector, but ...Published: 18 Sep 2018 at 07:43hrs | 408 | by Staff reporter
Zimbabwe inflation breach danger zone
Zimbabwe's annual inflation rate rose 0,54 percent to 4,83 percent in the month of August, latest figures from the Zimbabwe National Statistics Agency (ZimStats) show. This was a marginal uptu...Published: 18 Sep 2018 at 06:28hrs | 624 | by Staff reporter
Econet celebrates 20 years of ZSE listing
Econet Wireless Zimbabwe yesterday reached a major milestone after completing 20 years since its shares were listed and first publicly traded on the Zimbabwe Stock Exchange (ZSE); a month after Zimbab...Published: 18 Sep 2018 at 06:17hrs | 57 | by Staff reporter
Mthuli Ncube secures $250m loan
The new Minister of Finance and Economic Development, Professor Mthuli Ncube has secured a $250 million commercial loan facility from an international finance company, Gemcorp through the Reserve Bank...Published: 17 Sep 2018 at 19:58hrs | 10471 | by Staff reporter
Zivhu calls for probe into cash vending
CHIVI SOUTH legislator Killer Zivhu (Zanu-PF) feels the government and the Reserve Bank of Zimbabwe (RBZ) must investigate circumstances resulting in the current cash crisis in the formal banking syst...Published: 17 Sep 2018 at 07:10hrs | 1359 | by Staff reporter
Zamco gives grace period for bad loans
The Zimbabwe Asset Management Company (Zamco) will allow an eight-year moratorium on all restructured non-performing loans (NPLs) before the central bank's bad loans cleansing special purpose vehicle ...Published: 17 Sep 2018 at 06:43hrs | 63 | by Staff reporter
Govt speaks on fuel situation
Erratic fuel supplies being experienced throughout the country have now been addressed, the Zimbabwe Energy Regulatory Authority (Zera) told the Daily News on Sunday yesterday.Zera chief execu...Published: 16 Sep 2018 at 13:28hrs | 1012 | by Staff reporter
Mthuli Ncube's five big challenges
NEWLY-APPOINTED Finance and Economic Development minister Mthuli Ncube faces the unenviable task of navigating Zimbabwe's stuttering economy through serious challenges and will need to make tough deci...Published: 16 Sep 2018 at 09:11hrs | 3601 | by Staff reporter
Zimbabwe's future is bright, says Mangudya
Reserve Bank of Zimbabwe (RBZ) Governor Dr John Mangudya says the economy has performed well under difficult circumstances and the future is bright, particularly following the announcement of a "dream...Published: 16 Sep 2018 at 07:22hrs | 5634 | by Staff Reporter
Bread price shoots up, bakeries shut down
THE price of bread is set to go up today as bakers struggle to secure flour amid rising operational costs and shortage of foreign currency to buy essential raw materials and equipment, it has emerged....Published: 15 Sep 2018 at 09:24hrs | 2869 | by Staff reporter
Confusion over $2bn loan from China to Zimbabwe
AFTER its desperate quest for a critical US$2,5 billion bailout package from China hit a snag last week, government has somersaulted and now claims it did not request any such money.Ministry o...Published: 14 Sep 2018 at 16:34hrs | 9184 | by Staff reporter
Mthuli Ncube gets shock reality check
NEWLY-appointed Finance minister Mthuli Ncube - who arrived in the country from Switzerland early this week amid a populist storm and blaze of publicity on how to fix Zimbabwe's critically broken econ...Published: 14 Sep 2018 at 16:27hrs | 13050 | by Staff reporter
Wheat shipments to avert bread crisis expected soon
Grain millers yesterday said shipments of wheat are expected into the country from Monday next week, alleviating a possible shortage of bread following interventions by the Reserve Bank of Zimbabwe (R...Published: 14 Sep 2018 at 06:33hrs | 552 | by Staff reporter
RBZ registers 19 new micro-finance firms
THE Reserve Bank of Zimbabwe (RBZ) registered 19 new micro-finance institutions between January and June this year, bringing the total number of licensed operators to 194. "This brings the num...Published: 14 Sep 2018 at 06:06hrs | 443 | by Staff reporter
ZCTU SG questions change of system in Zanu PF govt
Zimbabwe Congress of Trade Unions (ZCTU) secretary general Japhet Moyo has questions if the Zanu PF government systems have changed to allow rational minds in some of the ministers like Finance Minist...Published: 13 Sep 2018 at 09:02hrs | 1787 | by Stephen Jakes
RBZ creating artificial money to fund gold exports
THE Reserve Bank of Zimbabwe (RBZ) plans to flood the banking system with more transferable balances created through real time gross settlement (RTGS) intended to support gold exporters in a desperate...Published: 13 Sep 2018 at 06:27hrs | 723 | by Staff reporter
'RBZ should complement Mthuli Ncube'
Analysts yesterday called on Reserve Bank of Zimbabwe governor John Mangudya and his team to work in tandem with new Finance and Economic Development minister Mthuli Ncube efforts to help arrest econo...Published: 12 Sep 2018 at 07:35hrs | 1966 | by Staff reporter
Perrance Shiri rules out bread shortage
Government has ruled out the possibility of bread shortage in the country as mechanisms have been put in place to import wheat in the short-term. Further, Government wants to boost wheat cropp...Published: 12 Sep 2018 at 07:04hrs | 322 | by Staff reporter
Jonathan Moyo warns Minister Mthuli Ncube
Self-exiled former cabinet minister Professor Jonathan Moyo has advised new Minister of Finance, Professor Mthuli Ncube to join the ruling Zanu-PF party in order to get political clout. He also advise...Published: 11 Sep 2018 at 09:28hrs | 10210 | by Sithabile Mafu
Zimbabwe a nation of contradictions
If Zimbabwe was a patient on a hospital bed we the relatives of the patient would have been expecting nothing less than being told by the doctors that the hospital has tried all we could do and we hav...Published: 10 Sep 2018 at 18:57hrs | 2095 | by Isaac Nkomah
Zimbabwe is rising
In this progressive (baby footsteps at most) moment of rebuilding and rebranding our nation, we find ourselves in even more deepening crisis. Some of those looming up include shortage of cement, conti...Published: 10 Sep 2018 at 07:24hrs | 3136 | by Dr. Takesure Tazvishaya
Mnangagwa's quest for Chinese $2bn bailout hits a brick wall
PRESIDENT Emmerson Mnangagwa's quest for a critical US$2 billion bailout package from China in a desperate bid to ease the country's crippling liquidity crisis has hit a brick wall although the Chines...Published: 07 Sep 2018 at 13:02hrs | 1823 | by Staff reporter
Blow for Mnangagwa, $2bn Chinese bid flops
President Emmerson Mnangagwa's quest for a critical US$2 billion bailout package from China in a desperate bid to ease the country's crippling liquidity crisis has hit a brick wall although the Chines...Published: 07 Sep 2018 at 07:35hrs | 8743 | by Staff reporter
Zimbabwe pins hope on China for forex
Zimbabwe is pinning hopes on Chinese banks to extending significant lines of credit to ease a serious shortage of foreign currency following a sharp rise in demand by businesses resulting from improve...Published: 07 Sep 2018 at 07:33hrs | 1000 | by Staff reporter
'Zimbabwe is open to global investors,' says Chiwenga
ZIMBABWE will continue engaging the international community and open up investment opportunities, as Government forges ahead with its drive to transform the economy and improve livelihoods for its cit...Published: 07 Sep 2018 at 06:47hrs | 189 | by Staff reporter
Mnangagwa urged to 'Scrap bond notes'
PRESIDENT Emmerson Mnangagwa's new administration should consider scrapping bond notes, as a way of restoring confidence in the economy, industrialists have said.Zimbabwe introduced the surrog...Published: 06 Sep 2018 at 15:46hrs | 7323 | by Staff reporter
Mnangagnwa must swiftly move in to avert crisis
IT'S futile for government to bury its head in the sand and pretend all is well in light of the ever-increasing prices of basic needs coupled with shortages of money in the banking system. It's undeni...Published: 06 Sep 2018 at 06:46hrs | 594 | by Editorial - newsday
Zimbabwe plunges into wheat crisis
ZIMBABWE was by yesterday left with less than a month of wheat stocks after a United Kingdom-based supplier held back a 30 000-tonne consignment at Mozambique's port of Beira until payment is confirme...Published: 06 Sep 2018 at 06:45hrs | 397 | by Staff reporer
Zimbabwe economy skids
Analysts have raised fears that the country's troubled economy could soon plunge into another full blown crisis akin to the ugly 2008 hyper-inflationary era — unless the government acts urgently to ...Published: 05 Sep 2018 at 15:46hrs | 1908 | by Staff reporter
Zimbabwe requires US$2bn to ease liquidity challenges, says Mangudya
The Reserve Bank of Zimbabwe (RBZ) says Zimbabwe requires about US$2 billion to kick start the economy and ease the current foreign currency challenges.The RBZ governor Dr John Mangudya and Fi...Published: 04 Sep 2018 at 12:49hrs | 3522 | by Staff Reporter
Mnangagwa blamed for failure to address 'legitimacy' issues, prices soar
THE prices of basic commodities have risen sharply since elections held on July 30 to levels that are too high for a dollarised economy.The bout of inflation is blamed on excessive government ...Published: 04 Sep 2018 at 06:50hrs | 2289 | by Staff reporter
No fuel crisis, says Mangudya
RESERVE Bank of Zimbabwe (RBZ) Governor Dr John Mangudya has assured the nation that there is no fuel crisis as the central bank allocated enough foreign currency to suppliers. Dr Mangudya, wh...Published: 04 Sep 2018 at 06:29hrs | 270 | by Staff reporter
Zimbabwe fuel consumption spikes 24%
Fuel consumption has spiked 24 percent to 752,4 million litres between January and June this year, largely in response to rising economic activity sparked by renewed investor confidence following the ...Published: 03 Sep 2018 at 07:12hrs | 1071 | by Staff reporter
Zimbabwe aviation industry faces collapse
THE aviation industry faces collapse, owing to failure by monetary authorities to remit ticket sales to foreign airlines, which have now ballooned to $76 million, making Zimbabwe an unprofitable ticke...Published: 03 Sep 2018 at 06:33hrs | 1066 | by Staff reporter
Stanbic calls for economic reforms
STANBIC Bank (Stanbic) has called for currency reforms and measures to support industrial growth, foreign currency generation and price stability in order to put an end to "turbulence in the operating...Published: 03 Sep 2018 at 06:32hrs | 831 | by Staff reporter
Mthuli Ncube wants bond notes scrapped
RENOWNED financial, economic and investment expert, Professor Mthuli Ncube, has advised Treasury to scrap bond notes and revert to use of the United States dollar in the meantime while working towards...Published: 03 Sep 2018 at 06:16hrs | 4040 | by Staff reporter
Massive drug shortage hits Zimbabwe
ZIMBABWE'S pharmaceutical sector, which relies largely on imports to meet local demand for medicine, has resorted to drug rationing as stocks have fallen to unsustainable levels due to protracted dela...Published: 02 Sep 2018 at 09:24hrs | 703 | by Staff reporter
Zimbabwe gold set to breach 30 tonnes annual output
The Reserve Bank of Zimbabwe (RBZ) has applauded the gold mining sector for its strong performance this year as the country gears to breach 30 tonnes output by year-end, a record achievement since att...Published: 02 Sep 2018 at 08:53hrs | 200 | by Staff reporter
Mthuli Ncube to replace Chinamasa at finance?
GLOBALLY respected economist and public policy expert, Professor Mthuli Ncube, is thought to be in the frame as President Emmerson Mnangagwa's puts together his cabinet after the bitterly disputed Jul...Published: 01 Sep 2018 at 09:36hrs | 8524 | by Staff reporter
Zimbabwe gold output to surpass target
ZIMBABWE'S gold output is projected to surpass the 2018 annual target and is already marginally above last year's total with four months to go, according to Fidelity Printers and Refineries (FPR), the...Published: 31 Aug 2018 at 07:18hrs | 1306 | by Staff reporter
Mnangagwa challenges banks to support farmers
President Emmerson Mnangagwa has challenged the banking sector to support economic revival, which has gathered pace in the last eight months, by extending loans to farmers at affordable interest rates...Published: 31 Aug 2018 at 06:38hrs | 129 | by Staff reporter
Zimbabwe urged to legalise use of crypto-currencies
GOVERNMENT should consider legalising and regulating the use of crypto-currencies so as to benefit from tax collections and minimise financial crimes such as money laundering.This was said by ...Published: 29 Aug 2018 at 06:40hrs | 272 | by Staff reporter
Zimbabwe plans to clear debt arrears in six months
ZIMBABWE is planning to settle its debt arrears with multilateral institutions in the next six months, Reserve Bank of Zimbabwe (RBZ) governor John Mangudya has said.The southern African count...Published: 24 Aug 2018 at 06:05hrs | 2936 | by Staff reporter
Why RBZ cash injections won't ease crisis
SINCE the Reserve Bank of Zimbabwe (RBZ) announced incremental cash injections into the economy in July, bank queues have persisted; demand for foreign exchange has remained high while the parallel ma...Published: 23 Aug 2018 at 06:38hrs | 985 | by Staff reporter
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