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It will take more than Mnangagwa's gold vault tour to restore public trust in the ZiG
There's a saying: trust is built over time - but can be destroyed in an instant, and once broken, confidence is not only shattered, but painfully difficult to rebuild.President Emmerson Mnanga...Published: 23 Jun 2025 at 18:56hrs | 351 | by Tendai Ruben Mbofana
Nedbank Zimbabwe wins US$2m Supreme Court case
The Supreme Court has thrown out an appeal by Israel-based firm Magic Software Enterprises Limited, which had sought to overturn a High Court decision that ruled nearly US$2 million held in a Nedbank ...Published: 10 Jun 2025 at 17:20hrs | 962 | by Staff reporter
Zimbabwean man wins US$1m loan court challenge
A HARARE man has won a US$1 million Supreme Court loan challenge after a local company that he loaned US$900 000 tried to repay the loan in local currency.The applicant Brian Rodney Baron had ...Published: 19 Mar 2024 at 12:58hrs | 5 | by Staff reporter
Biti says pharmacy licence cancellation illegal
FORMER finance minister, Tendai Biti, says the suspension and cancellation of trading licences for pharmaceutical companies for flouting foreign exchange regulations is "blatantly illegal, puerile and...Published: 14 Jul 2023 at 07:45hrs | 16 | by Staff reporter
Government says NO to payment of bills in forex
THE directive late last week by the Government that all local councils must continue charging in local currency as opposed to United States dollars as had just been announced by the Harare City Counci...Published: 03 Jul 2023 at 07:08hrs | 11 | by Staff rporter
US$226 000 debt chokes Joice Mujuru
FORMER Vice-President Joice Mujuru and her company, Ruzirun Investments, are swimming in a US$226 000 debt incurred in 2015 and efforts to evade paying the debt have hit a brickwall at the Supreme Cou...Published: 28 Mar 2023 at 06:48hrs | 2 | by Staff reporter
Masuka in court over US$94 000 loan
AGRICULTURE Minister Anxious Masuka has allegedly failed to pay back a US$94 000 loan advanced to him five years ago in the form of tobacco farming inputs.A Chinese tobacco contracting firm Ti...Published: 19 May 2022 at 06:36hrs | | by Staff reporter
Council official in court over US$ scandal
A Mudzi Council employee is in soup over collection of rates in RTGS dollars and converting them to US dollars.Tenuous Chimene on Frida...Published: 14 Mar 2022 at 23:58hrs | 5 | by Simbarashe Sithole
Ex-Zupco boss wins US$400k lawsuit
FORMER Zupco board chairman Charles Nherera has won a claim of US$130 000 against businessman Jayesh Shah, who he was suing for causing his wrongful arrest, prosecution and incarceration.Nhere...Published: 21 Dec 2021 at 06:17hrs | 10 | by Staff reporter
Mthuli, Mangudya target Innscor over iIllegal forex rates
THE Reserve Bank of Zimbabwe (RBZ) and Finance Minister are investigating Innscor and other companies using illegal exchange rates of as high as US$1: $200.This follows a public outcry Wednesd...Published: 07 Oct 2021 at 18:25hrs | 6 | by Staff reporter
Eddie Cross says 'not unhappy' with black market foreign currency exchange
For a year, Eddie Cross sat on the Reserve Bank of Zimbabwe's Monetary Policy Committee, before he was fired for being too outspoken. In a recent interview with TechZim, he reveals why he is "...Published: 07 Oct 2021 at 18:21hrs | 11 | by Staff reporter
Grace Mugabe's huge daily cash withdrawals exposed
FORMER first lady Grace Mugabe allegedly made multiple United States dollar cash withdrawals amounting to US$300 000 per day in 2019 from her CBZ Bank account at a time ordinary Zimbabweans were allow...Published: 23 Apr 2021 at 07:31hrs | 1 | by Staff reporter
Mthuli Ncube should increase 2% tax to 5%, says Eddie Cross
ECONOMIST Eddie Cross Friday left business executives and other invited guests at the CEO Africa Roundtable in Harare, in shock after he proposed that Finance Minister Mthuli Ncube must increase trans...Published: 05 Dec 2020 at 06:23hrs | | by Staff reporter
Small Claims Court jurisdiction reviewed to $300 000
The Ministry of Justice, Legal and Parliamentary Affairs has with immediate effect increased the jurisdiction of the Small Claims Courts to $300 000 from $1 000. The move is aimed at decongesting the ...Published: 28 Oct 2020 at 06:27hrs | 1 | by Staff reporter
RBZ debt accumulation above US$2 billion
THE US$2,23 billion debt accumulated by the Reserve Bank of Zimbabwe (RBZ) in the 12 months since July 2019 could be grossly understated, as fresh details emerged this week indicating the central bank...Published: 23 Oct 2020 at 08:41hrs | | by Staff reporter
Prioritise locals over Chinese contractors for the benefit of Zim economy
Kenyan law professor Patrick Lumumba gets animated when he talks about China's rising influence on the African continent where governments get blinded by their fraternal ties with the Communist Party ...Published: 30 Sep 2020 at 10:51hrs | 7 | by Anthony Matutu
Government plans to gazette health fees
THE Government has warned private doctors, medical aid societies and pharmacies that it might soon be forced to gazette health fees to protect suffering patients from errant practitioners charging in ...Published: 06 Sep 2019 at 07:03hrs | 2 | by Staff reporter
Introducing a new currency was Zimbabwe's only viable option
Zimbabwe, the country I serve as finance minister, has been in the news for restricting the use of the US dollar and other international currencies as legal tender. Why would we want to return to our ...Published: 28 Aug 2019 at 18:24hrs | 2 | by Prof Mthuli Ncube
Court throws away RTGS$ challenge
THE High Court has dismissed with costs an application filed by Harare businessman and University of Zimbabwe lecturer, Shakespear Hamauswa, challenging the legality of the Real Time Gross Settlement ...Published: 23 Aug 2019 at 07:45hrs | 3 | by Staff reporter
'New Zimdollar not priority,' says Mthuli Ncube
Finance and Economic Development Minister Professor Mthuli Ncube said on Tuesday Government was not in a hurry to issue new Zimbabwean dollar notes/coins, but rather focused on the need to replace soi...Published: 22 Aug 2019 at 07:36hrs | | by Staff reporter
Mthuli Ncube's budget gets Parliament's thumbs up
FINANCE Minister Professor Mthuli Ncube's Finance Bill and $10,62 billion Supplementary Budget as well as measures proposed in the mid-term budget to boost production and revenue inflows sailed past t...Published: 16 Aug 2019 at 00:00hrs | | by Staff reporter
Zimbabwe MPs demand $3 000 accommodation allowances
LEGISLATORS on Tuesday demanded that Finance minister Mthuli Ncube give them money so that they find their own accommodation in Harare instead of using hotels which Treasury was failing to pay for, re...Published: 08 Aug 2019 at 07:53hrs | | by Staff reporter
Power tariff hike gives Zesa headstart
Finance and Economic Development Minister Professor Mthuli Ncube last week announced an interim tariff framework meant to support Zesa's operations.But will the new tariff(s) address the cripp...Published: 04 Aug 2019 at 10:06hrs | 1 | by Staff reporter
Mthuli Ncube's budget plots progress on fundamentals
Presenting his supplementary budget last week, Minister of Finance and Economic Development Professor Mthuli Ncube spoke directly to the concerns of Zimbabweans, both as individuals and as businesses....Published: 04 Aug 2019 at 10:02hrs | | by Staff reporter
Mthuli Ncube: King of the Last Minute
On February 22, 2019, President Emmerson Mnangagwa issued the Presidential Powers (Temporary Measures) (Amendment of Reserve Bank of Zimbabwe Act and Issue of Real Time Gross Settlement Electronic Dol...Published: 02 Aug 2019 at 08:07hrs | 5 | by Mike Murenzvi
Mnangagwa dumps Mugabe's indigenisation law
Zimbabwe's Finance Minister Mthuli Ncube said Thursday that an equity law blamed for scaring off foreign investors would be abolished as the country seeks to woo fresh capital to shore up its moribund...Published: 02 Aug 2019 at 07:54hrs | | by Staff reporter
Northern Region Soccer league referees not receiving match fee
Editor,The Northern Region Soccer league has gone from week 9 (June 2019) without paying soccer referees match fees for all matches played despite teams having paid full amounts for referees w...Published: 31 Jul 2019 at 19:22hrs | 1 | by Anonymous
Forex black market struggles
FOREIGN currency trades on the interbank market have greatly improved as people shun the risky black market, Reserve Bank of Zimbabwe governor Dr John Mangudya said.The trades are also expecte...Published: 28 Jul 2019 at 09:08hrs | | by Staff reporter
Zesa seeks 9-fold tariff hike
Zesa wants to convert its old 9,83 cent kilowatt hour to RTGS dollars at the interbank rate, a near 9-fold increase to almost $1 a unit.Zesa is seeking Government approval for customers to pay...Published: 26 Jul 2019 at 09:02hrs | | by Staff reporter
Closed banks: Depositors to be compensated in Zimdollars
GOVERNMENT has instructed its insurer to compensate holders of nostro accounts in closed banks in either US dollars or the equivalent in local currency, it was revealed.Currently, the Deposit ...Published: 24 Jul 2019 at 08:20hrs | 3 | by Staff reporter
'RBZ can do more to force rate down'
THERE is significant headroom for the foreign exchange rates to come further down, thereby reining in inflation and speculative price increases, but only if the Reserve Bank of Zimbabwe abides by Gove...Published: 24 Jul 2019 at 08:01hrs | | by Staff reporter
Zimbabwe nostro accounts have no deposit cover
Nostro account holders in Zimbabwe have no fall back in the event of bank failures amid startling revelations their accounts do not have deposit cover.Deposit Protection Corporation (DPC) chai...Published: 23 Jul 2019 at 14:53hrs | 5 | by Staff reporter
Mthuli Ncube needs to work his magic on inflation
ECONOMIC analysts expect Finance and Economic Development Minister Professor Mthuli Ncube to announce new measures to contain and bring Zimbabwe's galloping inflation under control when he presents hi...Published: 21 Jul 2019 at 10:03hrs | 1 | by Staff reporter
SI 142 yields positive results
Having been asked by fellow Zimbabweans to clarify the impact of Statutory Instrument 142 of 2019 (SI 142/2019), announced by Finance and Economic Development Minister Professor Mthuli Ncube on June 2...Published: 15 Jul 2019 at 07:45hrs | 1 | by Tendai A. Chinamasa
Masiyiwa 'former' lawyer's multi-currency regime challenge ruled not urgent
High Court judge Justice Joseph Musakwa has ruled as not urgent an application by businessman and lawyer, Tawanda Nyambirai who was seeking an order to interdict Finance minister Mthuli Ncube and Rese...Published: 11 Jul 2019 at 07:25hrs | 3 | by Staff reporter
Why Mthuli Ncube fast-tracked Zimdollar return plans
Zimbabwe re-introduced its local currency earlier than scheduled because the market was rapidly re-dollarizing, putting more pressure on the government, finance minister Mthuli Ncube said Monday....Published: 09 Jul 2019 at 17:59hrs | 1 | by Xinhua
Multi-currency was a disaster
Government says multi-currency system created fiscal and monetary challenges, stunting economic growth and making most industries in Zimbabwe uncompetitive. Treasury permanent-secretary George...Published: 08 Jul 2019 at 08:31hrs | 1 | by Staff reporter
'Multi-currency stifled Zimbabwe economic growth'
THE use of the multi-currency system since 2009 stifled growth as the country could not utilise monetary instruments to stimulate economic activity, Finance and Economic Development Minister, Prof Mth...Published: 08 Jul 2019 at 07:57hrs | 1 | by Staff reporter
UZ accommodation for August 2019 intake students
The University of Zimbabwe wishes to advise successful applicants for the August 2019 intake that the online application window for student accommodation will open on the 8the of July 2019. Pl...Published: 07 Jul 2019 at 22:09hrs | 7 | by Ndou Paul
Fresh Zimdollar headache for govt
The government's decision to reintroduce the local currency faces a serious test after a third person filed a High Court application challenging President Emmerson Mnangagwa's use of presidential powe...Published: 07 Jul 2019 at 21:34hrs | 1 | by Staff reporter
Prophet Magaya's world crumbling?
The world around Prophet Walter Magaya is crumbling as more allegations of sexual abuse and harassment continue to surface.A week after the Maenzanise family went on social media alleging that...Published: 07 Jul 2019 at 21:00hrs | 1 | by Garikai Mazara
Strive Masiyiwa's 'former' lawyer sues Mthuli Ncube over currency reforms
Tawanda Nyambirai, who is on record as having been a lawyer to leading businessman Strive Masiyiwa in his bid to license Econet Wireless Zimbabwe, has sued the Minister of Finance and Economic Deleopm...Published: 06 Jul 2019 at 20:43hrs | 2 | by Staff reporter
ZCTU can do better than demonstrate for redollarisation
No good deed goes unpunished.Normally, the doer of a good deed expects just a "thank you", but usually someone is adversely affected by the good deed. For example, saving someone's life from a...Published: 05 Jul 2019 at 08:10hrs | 1 | by Conway Tutani
Harare to splash US$23 000 on iPads
CASH-strapped Harare City Council, which is struggling to buy chemicals to treat drinking water, is set to splash US$23 000 on councillors' iPads. Each of Harare's 46 councillors plus some sel...Published: 05 Jul 2019 at 07:49hrs | 2 | by Staff reporter
RBZ takes aim at forex speculators
Government says the sharp hike of the overnight bank rate by the Reserve Bank of Zimbabwe to support the domestic currency will discourage borrowing for currency speculation as well as protect the val...Published: 03 Jul 2019 at 08:29hrs | | by Staff reporter
Interbank rate overtakes black market
THE interbank exchange rate has surpassed parallel market rates with some banks offering more in local currency for those exchanging their foreign currency. Government last week outlawed the u...Published: 03 Jul 2019 at 08:25hrs | | by Staff reporter
Zimdollar return: Financial engineering not the answer
If the Reserve Bank of Zimbabwe (RBZ) was a ship it would be the Titanic, sailing with the patronage of a well-heeled elite with privileged access to the life boats towards a deadly iceberg.Th...Published: 30 Jun 2019 at 09:04hrs | 3 | by Sipho Malunga
Only RTGS dollars are legal tender
On Monday, an important statutory instrument (SI) was published in a Government Gazette Extraordinary: the Reserve Bank of Zimbabwe (Legal Tender) Regulations, 2019 (SI 142 of 2019).The effect...Published: 30 Jun 2019 at 09:04hrs | 2 | by Veritas
Chinese miner's property attached over 'slave' wages
CHINESE mining firm, San He Zimbabwe, had its property attached by the sheriff after it failed to settle over US$218 970 in salary arrears and non-payment of overtime.The mine, based in Guruve...Published: 28 Jun 2019 at 06:26hrs | 1 | by Staff reporter
Scrapping of multi-currency regime: The implications
ON Monday, the government announced major changes in the monetary policy of Zimbabwe, highlighted by the ending of a 10-year multi-currency system.Further measures announced include the intend...Published: 26 Jun 2019 at 07:32hrs | 2 | by Respect Gwenzi
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