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Zimbabwe commits ZiG550m to industrial growth plan
The Zimbabwean government has committed ZiG$550 million to support the newly launched Zimbabwe Industrial Reconstruction and Growth Plan (ZIRGP), aimed at fostering growth opportunities in the manufac...Published: 11 Dec 2024 at 06:40hrs | 146 | by Staff reporter
Zimbabwe power outages to ease as Hwange Unit 7 returns to operation
The Zimbabwean government has assured citizens that severe power outages affecting the country will ease this weekend as Hwange Unit 7, recently down for maintenance, is set to resume operation. The u...Published: 01 Nov 2024 at 06:32hrs | 381 | by Staff reporter
Ministry advocates for skills audit, accreditation for Mbare Siyaso
The Ministry of Skills Audit and Development has expressed it's quest to audit, accredit and create a database for some unregistered skilled operators wit...Published: 10 Jul 2024 at 00:29hrs | 33 | by Gideon Madzikatidze/Simbarashe Sithole
Mnangagwa says Zimbabweans must not be shy to make money
Zimbabweans should not hesitate to make money, as the government has created a conducive environment for economic success, President Emmerson Mnangagwa stated.Speaking at the commissioning of ...Published: 18 May 2024 at 10:59hrs | 17 | by Staff reporter
Mnangagwa niece's legacy woes haunt ZBC
THE Zimbabwe Broadcasting Corporation (ZBC) is grappling with serious management challenges linked to Helliate Rushwaya - the newly appointed board chair - during her tenure as the acting chief execut...Published: 10 Mar 2024 at 06:51hrs | 13 | by Staff reporter
Zimbabwe foundries engage banks to raise US$15m for retooling
THE Zimbabwe Institute of Foundries (ZIF) this week said it was engaging banks and government to raise uS$15 million for retooling of the existing foundries dotted around the country.Foundries...Published: 25 Feb 2024 at 09:26hrs | 15 | by Staff reporter
Mthuli Ncube to prioritise Zimdollar stability
FURTHER stabilising the Zimbabwe dollar and consolidating economic growth will be prioritised in the 2024 budget, Finance, Economic Development and Investment Promotion Minister Professor Mthuli Ncube...Published: 12 Nov 2023 at 11:43hrs | 9 | by Staff reporter
Mineral revenue slumps 29%
In the first half of this year, Zimbabwe's mineral revenue experienced a 29% decline, amounting to US$2.6 billion, owing to several challenges, including falling commodity prices, foreign currency sho...Published: 03 Nov 2023 at 05:44hrs | 11 | by Staff reporter
CCC MP candidate to push for laws against deindustrialisation
The Citizens Coalition Candidate for Change (CCC) candidate for Nketa Constituency, Obert Manduna, has a lofty goal to push for laws prohibiting deindustrialisation in Bulawayo once he is in Parliamen...Published: 21 Jul 2023 at 16:27hrs | 3 | by Staff reporter
Mnangagwa disappointed by some members of the business community
PRESIDENT Mnangagwa is disappointed by some members of the business community whose conduct continues to frustrate Government efforts to stabilise the economy and the current wave of price increases o...Published: 23 May 2023 at 06:36hrs | 23 | by Staff reporter
Zimbabwe foundries require US$50m for retooling
The Zimbabwe Institute of Foundries (ZIF) says the sector requires about US$50 million for retooling of the existing foundries dotted around the country.Foundries are facilities that produce m...Published: 21 May 2023 at 08:11hrs | 1 | by Staff reporter
Chamisa's MPs wants Zimbabwe to dump the Zimdollar
GOVERNMENT has defied opposition calls to abandon the local currency despite its spectacular free-fall and price spikes that have seen businesses abandoning it.In Parliament on Wednesday, oppo...Published: 19 May 2023 at 20:45hrs | | by Staff reporter
13 distressed Zimbabwe firms rescued
Testifying to its commitment to tangible deliverables aimed at transforming the livelihoods of the people, the Second Republic, under the stewardship of President Mnangagwa, has resuscitated 13 previo...Published: 11 May 2023 at 05:30hrs | 1 | by Staff reporter
Willowvale to start assembling vehicles in Zimbabwe
WILLOWVALE Motor Industries will in August resume assembling vehicles after a hiatus of more than five years as the subsidiary of the Industrial Development Corporation of Zimbabwe (IDCZ) returns to i...Published: 03 Apr 2023 at 06:20hrs | 2 | by Staff reporter
Zimbabwe manufacturing sector on rebound
The Reserve Bank of Zimbabwe (RBZ) says the country's manufacturing sector is on a massive expansion push after consuming roughly 70% of all foreign currency injected into the economy last year....Published: 02 Apr 2023 at 11:02hrs | | by Staff reporter
Zimbabwe macroeconomic priorities for 2023
Zimbabwe's treasury department presented a ZW$4.5 trillion budget (21% of 2021 GDP) for the 2023 fiscal year. The budget roughly translates to US$5.3 billion if the market exchange rate is used. As is...Published: 15 Dec 2022 at 23:53hrs | | by Victor Bhoroma
Reserve Bank of Zimbabwe keeps bank rate at 200%
THE Reserve Bank of Zimbabwe (RBZ) has kept its bank policy rate at 200 percent after its Monetary Policy Committee (MPC) expressed satisfaction with how the current tight monetary policy stance has h...Published: 06 Dec 2022 at 04:58hrs | 1 | by Staff reporter
US$1,5m biscuit plant opens in Bulawayo
AGRO-PROCESSING factory, Flynote Investments Private Limited, has channelled more than US$1,5 million towards the establishment of new biscuit and stockfeed manufacturing units.Flynote Investm...Published: 30 Nov 2022 at 05:03hrs | | by Staff reporter
Zimbabwe miners in urgent plea for forex
THE Chamber of Mines of Zimbabwe says it is engaging authorities to come up with mechanisms that can accommodate the foreign currency requirements for the sector as shortages are weighing down the sec...Published: 24 Nov 2022 at 04:59hrs | 5 | by Staff reporter
Mnangagwa's govt draws down US$311m from IMF kitty
ZIMBABWE has drawn down US$311 million from the US$958 million it was allocated under extra Special Drawing Rights by the International Monetary Fund in August last year, an automatic allocation along...Published: 14 Nov 2022 at 05:09hrs | | by Staff reporter
Obert Mpofu takes bootlicking to another level over re-appointment?
Zanu-PF's secretary for administration Obert Mpofu has taken bootlicking to another level by penning an open letter praising President Emmerson Mnangagwa over his recent reappointment as party leader....Published: 07 Nov 2022 at 05:31hrs | 1 | by Staff reporter
Investors to get Zimbabwean citizenship
Deserving investors will be granted citizenship as part of Government efforts to increase investment, Information, Publicity and Broadcasting Services Minister Monica Mutsvangwa has said.The S...Published: 04 Nov 2022 at 05:27hrs | | by Staff reporter
Zanu-PF leans on parastatals to fund congress
THE ruling Zanu-PF party has reportedly ordered struggling State-owned parastatals to sponsor its congress this week by buying exhibition space that cost between US$3 000 and US$6 000.State en...Published: 24 Oct 2022 at 06:14hrs | | by Staff reporter
Nzenza speaks on Zisco
Industry and Commerce minister Sekai Nzenza has broken silence on reports that she branded the current ZiscoSteel board as a failure in its quest to secure investment for the parastatal for the past s...Published: 24 Oct 2022 at 06:13hrs | | by Staff reporter
Chiwenga circumvents Parliament grilling for 6 months
KUWADZANA East legislator Chalton Hwende this week took to task deputy speaker of Parliament Tsitsi Gezi over the continued non-attendance of Vice-President Constantino Chiwenga who doubles as ministe...Published: 16 Oct 2022 at 19:31hrs | 1 | by Staff reporter
Sanctions increase cost of doing business in Zimbabwe
ILLEGAL sanctions imposed on Zimbabwe by the West hamper the free movement of funds across international borders, and therefore can raise the cost of doing business, or at least make investors worry a...Published: 03 Oct 2022 at 06:06hrs | 1 | by Staff reporter
Concern over reluctance to reduce prices
THE Parliamentary committee on Industry and Commerce has expressed concern over the reluctance by the business sector to reduce prices of goods and services in line with sustained and continued reduct...Published: 16 Sep 2022 at 06:04hrs | 1 | by Staff reporter
Zupco leading local bus assembly revival
From being a shining beacon of mass public transport during the early years of independence, Zupco had in recent years mutated into a classic example of a failed State-owned entity.In 1993, it...Published: 14 Aug 2022 at 07:22hrs | | by Staff reporter
Power imports cost Zesa US$17m monthly
THE Zimbabwe Electricity Supply Authority (Zesa) requires US$17 million per month for power importation to augment local supplies which are set to receive a major boost with coming on line of Hwange u...Published: 27 Jul 2022 at 06:27hrs | | by Staff reporter
Bata puts faith on Zimbabwe economy: US$5 million in plant and machinery
BATA Shoe Company Zimbabwe has invested over US$5 million in plant and machinery, in sheer demonstration of confidence in the economy.The company recently installed a polyurethane pouring plan...Published: 24 Jun 2022 at 07:36hrs | 8 | by Staff reporter
European Investment Bank warms up to Zimbabwe
The European Investment Bank (EIB) has availed about €40m to Zimbabwe banks within a year, which will go towards bailing out the country's SMEs and mid-cap companies, in a vote of confidence in the ...Published: 02 Jun 2022 at 09:04hrs | | by Staff reporter
Zimbabwe to draw US$145 million IMF funds
SOME US$145 million from the US$960 million Special Drawing Rights released by the International Monetary Fund last year to cushion member States against the effects of the Covid-19 pandemic will be d...Published: 06 Apr 2022 at 06:24hrs | | by Staff reporter
2 000 farming joint ventures approved
So far 2 000 joint farming ventures covering up to 200 000 hectares have been approved by Government to boost agriculture.Speaking at the first meeting of the Joint Venture and Investment Trus...Published: 06 Apr 2022 at 06:24hrs | | by Staff reporter
Zesa faces massive brain drain
ZESA Holdings has revealed that it faces the risk of skills flight as employees seek better paying job opportunities elsewhere, even across the country's borders, a top management official said....Published: 02 Mar 2022 at 05:44hrs | 1 | by Staff reporter
Dynamics of anti-Chinese crusade in Zimbabwe
In recent times, a steady stream of anti-Chinese propaganda in Zimbabwe - driven mostly by Western-sponsored media, civil society and the opposition - has grown into a huge tide.On January 20,...Published: 22 Jan 2022 at 05:21hrs | | by Staff reporter
Zimbabwe firms predict gloom
MORE than three quarters of businesses across various sectors of the economy have said the ease of doing business in Zimbabwe was unfavourable as a result of policy inconsistencies and limited financi...Published: 12 Dec 2021 at 19:14hrs | 6 | by Staff reporter
Economist questions govt use of IMF money
A LEADING economist, Gift Mugano has questioned government's plans to disburse substantial amounts drawn from the nearly US$1 billion special drawing rights (SDR) from the International Monetary Fund ...Published: 02 Dec 2021 at 05:33hrs | 8 | by Staff reporter
Bulawayo firm commits to re-industrialisation
THE availing of lines of credit to the automobile repair industry is the sure way to facilitate retooling so the sector becomes a key enabler in Government efforts to modernise and stabilise the econo...Published: 02 Dec 2021 at 05:30hrs | 8 | by Staff reporter
US$1bn SDRs to be used over three years
The US$958 million worth of Special Drawing Rights (SDRs) allocated to Zimbabwe by the International Monetary Fund (IMF) will be used over a three-year period, with US$311 million expected to be relea...Published: 28 Nov 2021 at 07:48hrs | 6 | by Staff reporter
Second Republic marred by litany of unfulfilled pledges
WHEN President Emmerson Mnangagwa got into power in 2017, a lot of promises were made, creating the impression that Zanu-PF was ready to give Zimbabweans a fresh start.Four years later, it see...Published: 22 Nov 2021 at 06:16hrs | 6 | by Staff reporter
ZNCC backs call for power tariff hike
THE Zimbabwe National Chamber of Commerce (ZNCC) yesterday said government should grant troubled power producer, Zesa Holdings, authority to hike power tariffs and give impetus to its recapitalisation...Published: 11 Nov 2021 at 06:21hrs | 7 | by Staff reporter
'Zimbabwe will be a net power exporter'
ZIMBABWE has commenced several programmes to improve power generation and plug a crippling electricity deficit.The projects are at various stages of completion.Our business reporter, F...Published: 07 Nov 2021 at 07:53hrs | 13 | by Staff reporter
Zanu-PF conference lacked strategic imperatives for economic growth
THE Zanu-PF conference is of strategic importance due to its potential of providing simultaneous and sequential signal on the general direction or economic trajectory of the country. It is also not fa...Published: 04 Nov 2021 at 06:30hrs | | by Brian Sedze
Unpacking ZIDERA, atrocities of sanctions
It is without doubt that sanctions are a crime against humanity, an unfair treatment of race against race, nation against nation, the strong against the presumably weak, all with the intention to crea...Published: 26 Oct 2021 at 06:38hrs | 7 | by Takasununguka Ziki
Name, shame exercise divides Zanu-PF
GOVERNMENT's name and shame operation targeting companies and individuals accused of fuelling the galloping foreign currency parallel exchange rate has triggered fierce fights within Zanu-PF, with som...Published: 09 Oct 2021 at 07:33hrs | 8 | by Staff reporter
Govt sets up farm mechanisation hubs
The GOVERNMENT has begun setting up provincial farm mechanisation hubs to provide tillage, harvesting and logistics support to farmers during the 2021/2022 summer cropping season.The Agricultu...Published: 26 Sep 2021 at 19:34hrs | | by Staff reporter
Mthuli Ncube to launch US$ bond on VFEX
WITH the Victoria Falls Stock Exchange (VFEX) being one of the innovation reforms meant to support the process of financial deepening, Government is working on launching a US$ bond and list it on the ...Published: 05 Sep 2021 at 06:58hrs | | by Staff reporter
'Top bankers assigned to guard Zimbabwe's IMF windfall'
Finance Minister Mthuli Ncube laid out a solid spending plan for the US$961 million recently injected by the International Monetary Fund (iMF), saying the windfall would be guarded by three top banker...Published: 03 Sep 2021 at 07:01hrs | | by Staff reporter
IMF funds to power Zimbabwe's economic agenda
The US$961 million boost received from the International Monetary Fund (IMF) last week will give impetus to the country's economic programmes guided by the five-year National Development Strategy 1 (N...Published: 29 Aug 2021 at 07:07hrs | 1 | by Staff reporter
Mthuli Ncube won't adopt the black market rate
FINANCE Minister Mthuli Ncube says the government will not be forced into following the parallel market foreign currency rate.He was responding to MPs during a question and answer session Wedn...Published: 28 Aug 2021 at 05:48hrs | 1 | by Staff reporter
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