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Quicker route to wealth for black Africans
AFRICANS are currently receiving education that orients them towards employment rather than real wealth creation.Most value chains for our daily consumables as black people in Africa are contr...Published: 17 hrs ago | 771 | by Dumisani Nduku
Mnangagwa urged to reopen economy
ZIMBABWEANS have urged the government to ease COVID-19 restrictions today and allow churches, businesses and informal traders to operate, arguing that the latest two-month lockdown had subjected many ...Published: 01 Mar 2021 at 04:59hrs | 1935 | by Staff reporter
RBZ backtracks on farmers' forex retention thresholds
THE Reserve Bank of Zimbabwe (RBZ) has been forced to raise foreign currency retention thresholds for tobacco producers by 10% following pressure from farmers.RBZ also scrapped the compulsory ...Published: 28 Feb 2021 at 08:51hrs | 726 | by Staff reporter
Mnangagwa to announce new lockdown measures
THE current Level Four national lockdown lapses tomorrow with President Mnangagwa expected to announce new ordinances to balance the reopening of the economy and mitigating against further spread of C...Published: 28 Feb 2021 at 06:54hrs | 2776 | by Staff Reporter
Suspended Natpharm boss back in court
SUSPENDED National Pharmaceutical Company of Zimbabwe (NatPharm) acting managing director Zealous Nyabadza appeared at the Harare Magistrates' Court yesterday facing criminal abuse of office allegatio...Published: 26 Feb 2021 at 06:45hrs | 297 | by Staff reporter
'Auction rate is the real market rate'
THE auction exchange rate represents the proper market trends contrary to the contrived perception that the parallel market signifies the "real exchange rate", a senior Treasury official has said. &nb...Published: 26 Feb 2021 at 06:30hrs | 233 | by Staff reporter
Chikwinya urges Zinara to decongest tollgates
MBIZO MP Settlement Chikwinya (MDC Alliance) has called on the Zimbabwe National Road Administration (Zinara) to decongest traffic at tollgates by introducing tap cards.In a statement yesterda...Published: 23 Feb 2021 at 06:51hrs | 1394 | by Staff reporter
Zimra system disruptions affect business
THE Zimbabwe Revenue Authority (Zimra) could have lost millions of dollars in the past two months following glitches in its information technology system which threatened to cripple financial transact...Published: 19 Feb 2021 at 07:15hrs | 310 | by Staff reporter
Checkpoints and supermarkets severely exposed to Covid-19
POLICE roadblocks and supermarkets are potential Covid-19 super spreaders as they are failing to adhere to basic safety precautions to contain the deadly novel virus that has ravaged the globe....Published: 19 Feb 2021 at 07:12hrs | 602 | by Staff reporter
Forex auction apportions US$38 million to productive sector
OVER US$38 million was allotted to the productive sectors at yesterday's Reserve Bank of Zimbabwe (RBZ) weekly Foreign Currency Auction Trading System reflecting a 11,44 percent jump from last Tuesday...Published: 17 Feb 2021 at 15:04hrs | 636 | by Staff reporter
Zimdollar will maintain a 'fragile stability' this year report
ZIMBABWE's currency will maintain a "fragile stability" this year, continuing from the volatilities that haunted the domestic unit even after the introduction of theforeign currency auction system...Published: 17 Feb 2021 at 06:11hrs | 804 | by Staff reporter
OK Zimbabwe CEO retires after two years
ZIMBABWE Stock Exchange- listed retail giant OK Zimbabwe says its CEO Alex Siyavora will leave the group at the end of next month, after assuming the role just over two years ago. He will be replaced ...Published: 14 Feb 2021 at 09:51hrs | 1856 | by Staff reporter
Mugabe's business empire, The death of a dynasty
BARELY five years after the demise of Zimbabwe's former ruler Robert Mugabe, the vast wealth he owned and accumulated throughout the 37 years of his reign is disappearing.A great dynasty appea...Published: 14 Feb 2021 at 09:39hrs | 1283 | by Africa Report
'Forex enough to stabilise rate'
The exchange rate of the Zimbabwean dollar against the US dollar will continue to hold steady on the weekly auction market because the country is earning enough forex to support critical imports, the ...Published: 12 Feb 2021 at 05:34hrs | 374 | by Staff reporter
Mnangagwa, Chiwenga-linked cartels take over public firms, mines, fuel sector - report
HIGHLY secretive cartels linked to President Emmerson Mnangagwa and Vice President Constantino Chiwenga are reported to have taken over the operations of key state-owned companies, including private f...Published: 10 Feb 2021 at 07:33hrs | 8101 | by Staff reporter
RBZ still optimistic about low inflation
Reserve Bank of Zimbabwe Governor, Dr John Mangudya, remains confident authorities will be able to maintain a lid on prices to curtail potential relapse into runaway inflation, following worrying incr...Published: 10 Feb 2021 at 05:29hrs | 211 | by Staff reporter
MDC-A must act on food security
Zimbabwe has been talking about Minister Sekai Nzenza's crude oil remarks. MDCA National Spokesperson joined the discussion and dragged mealie meal into the conversation on twitter.Fadzayi Mah...Published: 09 Feb 2021 at 12:35hrs | 741 | by Nicholas Ncube
140 vehicles impounded for lockdown breach
POLICE in Bulawayo have impounded 140 vehicles including pirate taxis and a bus from Botswana, for defying the lockdown regulations meant to curb the spread of Covid-19 in the second phase of operatio...Published: 05 Feb 2021 at 17:35hrs | 1079 | by Staff reporter
Retailers group appeals for increase in business hours
THE Confederation of Zimbabwe Retailers (CZR) has urged President Emmerson Mnangagwa to intervene and save businesses in the wake of tough Covid-19 lockdown measures on companies.In an update ...Published: 05 Feb 2021 at 06:48hrs | 787 | by Staff reporter
ZANU-PF condemns businesses that are increasing prices
ZANU-PF has condemned unscrupulous businesses that are increasing prices of basic commodities and services without justification.Lately, some large retailers have been reportedly abusing the p...Published: 03 Feb 2021 at 18:52hrs | 268 | by Staff reporter
Court dismisses lockdown challenge
The attempt by an organisation claiming to represent the informal sector to end the Level Four national lockdown failed after the High Court dismissed the urgent application on several grounds with th...Published: 03 Feb 2021 at 05:54hrs | 497 | by Staff reporter
Record US$36m allotment at auction
A record US$36,32 million was allotted at yesterday's 31st foreign currency auction of the Reserve Bank of Zimbabwe, but for the second week running all bids below $82 were rejected so the Zimbabwe do...Published: 03 Feb 2021 at 05:54hrs | 288 | by Staff reporter
Proudly made in Zimbabwe
The advent of globalization has demonstrated that each country has expertise in a certain trade and there are commodities that resonate with certain countries more than others. It is often argued that...Published: 02 Feb 2021 at 00:25hrs | 2145 | by Victor Bhoroma
Zacc probes pharmacies in Covid-19 drug scam
SOME pharmacies are allegedly diverting onto the black market drugs bought using foreign currency allotted on the Reserve Bank of Zimbabwe auction facility and then resold for much higher prices in fo...Published: 01 Feb 2021 at 05:32hrs | 492 | by Staff reporter
Zera introduces electronic licensing
THE Zimbabwe Energy Regulatory Authority (Zera) has introduced electronic licencing for players in the petroleum sector.The energy regulator said it started issuing out the electronic licences...Published: 29 Jan 2021 at 18:53hrs | 1209 | by Staff reporter
Mnangagwa pleads with business
President Emmerson Mnangagwa this week extended the begging bowl to the private sector to fund the importation of coronavirus vaccines amid a rise in new infections of the virus with deaths breaching ...Published: 28 Jan 2021 at 06:54hrs | 5545 | by Staff reporter
Zimdollar depreciates
The local currency depreciated by almost a percentage point on Tuesday in an auction which failed to make allotments on all qualified bids. The Zimbabwe dollar was quoted at 82.6756 after depreciating...Published: 27 Jan 2021 at 06:10hrs | 6569 | by Staff reporter
Poor grain production hurting Zimbabwe economy
Zimbabwe has been a net importer of food for the past 2 decades and the country's import bill has increasingly featured grain imports with maize imports averaging 1.1 million Metric Tonnes (MT) per ye...Published: 25 Jan 2021 at 13:18hrs | 521 | by Victor Bhoroma
British foreign secretary tours Econet facility
BRITISH foreign secretary Mr Dominic Raab last week visited the East African Data Centre in Nairobi, Kenya, during which tour he unveiled his Britain's support for developing countries to shift to cle...Published: 24 Jan 2021 at 22:27hrs | 439 | by Staff reporter
Bulawayo police impound 95 cars
POLICE in Bulawayo yesterday impounded 95 vehicles from motorists, including pirate taxis, for defying the level 4 lockdown regulations meant to curb the spread of Covid-19. The country has of...Published: 23 Jan 2021 at 06:22hrs | 697 | by Staff reporter
'Zimbabwe printing $1 billion weekly to buy gold'
FORMER legislator and Monetary Policy Committee member Eddie Cross has made sensational claims that the Reserve Bank of Zimbabwe (RBZ) was printing $1 billion weekly mainly to buy gold.At the ...Published: 21 Jan 2021 at 06:46hrs | 3199 | by Staff reporter
Trail of relatives' deaths exposes cruel hand of Covid-19
My brothers and sisters last Friday I lost my elder brother Elvis to Covid-19. Elvis Maplanka was a prominent businessman in Bulawayo in the transport and retail sector. Over and above his business, h...Published: 20 Jan 2021 at 06:44hrs | 900 | by Apostle St Paul Maplanka
Ingwebu scales down operations
INGWEBU Breweries has scaled-down operations to 50 percent due to Covid-19 pandemic that has forced the Government to ban bottle stores from operating as part of measures to contain the disease. Befor...Published: 19 Jan 2021 at 07:22hrs | 527 | by Staff reporter
What caused the 50% plunge in Zimbabwe's fuel import bill?
ZIMBABWE'S fuel import bill fell by more than 50% in 2020, from US$1,2 billion the previous year.Figures recently released by the Zimbabwe National Statistics Agency (ZimStat), capturing data ...Published: 18 Jan 2021 at 06:03hrs | 1420 | by Staff reporter
Ramaphosa causes R2.5 billion investment cancellation
South African Breweries (SAB) has cancelled a further R2.5 billion of capital investment following the third blanket ban on alcohol sales, it announced on Friday.In announcing the ban, Preside...Published: 15 Jan 2021 at 10:44hrs | 2157 | by Staff reporter
'Zimbabwe inflation fall no cause for celebration'
ZIMBABWE's year-on-year inflation rate ended the year 2020 at 348,5% down from a high of more than 800% in July but analysts say it is no cause for celebration as it remains way too high."The ...Published: 15 Jan 2021 at 07:49hrs | 599 | by Staff reporter
Stockfeeds shortage hits the market
A SHORTAGE of stockfeeds has hit the market, with poultry farmers going from one supplier to another in search of the major input for their business.This comes at a time the country is faced with ...Published: 13 Jan 2021 at 07:59hrs | 376 | by Staff reporter
Zimdollar maintains stability after first auction of the year
THE Foreign Currency Auction Trading System resumed activity after the festive season break with the Zimbabwe dollar maintaining stability despite marginally weakening by 0,44 percent from an exchange...Published: 12 Jan 2021 at 17:58hrs | 1634 | by Staff reporter
Ramaphosa closes SA border to general traffic
South Africa will close its borders to general passenger traffic for the next two weeks to contain the spread of a new strain of Covid-19. President Cyril Ramaphosa announced the decision last night, ...Published: 12 Jan 2021 at 08:41hrs | 673 | by Staff reporter
Varun opens new production line
VARUN Beverages Zimbabwe Private Limited (VBZPL) has commissioned a new production line to ramp up production of its Aquaclear bottled mineral water.VBZPL is a subsidiary of the Indian headqua...Published: 10 Jan 2021 at 20:58hrs | 1030 | by Staff reporter
'Buy Zimbabwe' will never succeed as long as local companies produce sub-standard goods and services
Zimbabweans are generally a proudly patriotic people - who, never hesitate to show unquestionable devotion and love for their dear country - but, that dedication should never be equated to foolishness...Published: 10 Jan 2021 at 15:06hrs | 361 | by Tendai Ruben Mbofana
Zimbabwe to introduce new banknotes soon
THE Reserve Bank of Zimbabwe (RBZ) will soon introduce a new set of higher denomination banknotes to increase physical money supply, curb cash shortages and improve transacting convenience.Aut...Published: 10 Jan 2021 at 07:52hrs | 999 | by Staff reporter
Stringent govt lockdown requirements cripple companies
THE ministry of Industry and commerce has given industry a seven day moratorium to obtain exemptions to operate during the 30-day national lockdown while at the same time introducing stringent demands...Published: 10 Jan 2021 at 07:45hrs | 260 | by Staff reporter
Rights doctors flag Zimbabwe govt for weak Covid-19 lockdown measures
THE Zimbabwe Association of Doctors for Human Rights (ZADHR) has raised concerns over non-compliance to Covid-19 lockdown regulations by some citizens.The measures were imposed by government a...Published: 10 Jan 2021 at 07:44hrs | 110 | by Staff reporter
Zimbabwe's economic outlook for 2021
Zimbabwe's economy ended the year 2020 on a fairly stable note due to the return of the multi-currency regime and decline in general inflation levels in the market. Headwinds caused by incessant power...Published: 08 Jan 2021 at 21:02hrs | 1267 | by Victor Bhoroma
The soft peg and local economic stability
Zimbabwe introduced the Dutch inspired foreign exchange auction system on the 23th of June to replace the fixed exchange rate (hard peg) of US$1: ZW$25 that had been in existence since 26 March 2020. ...Published: 08 Jan 2021 at 20:58hrs | 521 | by Victor Bhoroma
Stanbic Bank to step up COVID-19 mitigation measures through digitisation
Leading financial services institution, Stanbic Bank, is banking on its top-notch innovative mobile and internet platforms to ensure its clients are well served throughout the 30-day lockdown....Published: 08 Jan 2021 at 11:33hrs | 450 | by Staff reporter
Lockdown violator rams into police drums
POLICE officers manning a roadblock in Bulawayo survived death by a whisker after a speeding motorist ploughed into barricades resulting in his car veering off the road and uprooting a street light. ...Published: 08 Jan 2021 at 07:30hrs | 692 | by Staff reporter
Kazembe orders ZRP to deal with windscreen smashing cops
HOME Affairs Minister Kazembe Kazembe has ordered the Zimbabwe Republic Police (ZRP) to take stern action against police operatives who smash vehicle windscreens in attempts to arrest offending motori...Published: 08 Jan 2021 at 07:21hrs | 621 | by Staff reporter
Govt told to tailor-make measures for COVID-19 hotspots
GOVERNMENT should identify COVID-19 provincial hotspots and implement tailored measures or different levels of the lockdown depending on the incidence of the virulent disease, human rights doctors hav...Published: 07 Jan 2021 at 08:25hrs | 352 | by Staff reporter
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