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Zimra to garnish Chinese firm with US$2m sting over taxes
Chinese-owned mining company, AfroChine Smelting, has been unsuccessful in its attempt to stop the Zimbabwe Revenue Authority (Zimra) from garnishing its bank account to recover US$2 million in unpaid...Published: 30 mins ago | 31 | by Staff reporter
'Mutapa Fund will become Zimbabwe's economic bedrock'
Finance, Economic Development, and Investment Promotion Minister, Mthuli Ncube, has expressed strong confidence in the future of the Mutapa Investment Fund (MIF), highlighting its potential as a key d...Published: 09 Dec 2024 at 07:03hrs | 668 | by Staff reporter
Zimbabwe's 'pizza budget' proves economy on the verge of collapse
Zimbabwe's 'pizza budget,' presented two days ago by Finance Minister Professor Mthuli Ncube as the 2025 National Budget Proposal, is a stark illustration of an economy on the verge of collapse. ...Published: 30 Nov 2024 at 19:01hrs | 549 | by Tendai Ruben Mbofana
All eyes on Professor Mthuli Ncube
As Zimbabwe prepares for the presentation of the 2025 National Budget, all eyes are on Finance, Economic Development, and Investment Promotion Minister, Professor Mthuli Ncube. The Budget, which serve...Published: 27 Nov 2024 at 08:13hrs | 1087 | by Staff reporter
Zimbabwe miners propose royalties linked to metal prices
Zimbabwe's Chamber of Mines has put forward a proposal to the Ministry of Finance suggesting that royalty payments be linked to the market prices of metals, including lithium and platinum group metals...Published: 16 Nov 2024 at 14:27hrs | 95 | by Staff reporter
Zimbabwe's gold output surges 33%
Zimbabwe's gold production surged by 33 percent in the third quarter of 2024, with output rising to 10.3 tonnes, compared to 7.7 tonnes in the previous quarter, according to official data from Fidelit...Published: 30 Oct 2024 at 07:53hrs | 148 | by Staff reporter
CCC MPs demand Mnangagwa action as ZiG devalues
Opposition Members of Parliament (MPs) have expressed frustration over the continued devaluation of Zimbabwe's local currency, the Zimbabwe Gold (ZWG), urging the government to address the nation's lo...Published: 03 Oct 2024 at 16:25hrs | 956 | by Staff reporter
Mnangagwa frets over resurgent black market
In his State of the Nation Address (SONA) delivered during the official opening of the second session of the 10th Parliament in Mt Hampden, President Emmerson Mnangagwa expressed deep concern over the...Published: 03 Oct 2024 at 08:58hrs | 613 | by Staff reporter
Mnangagwa warns forex dealers
In a bold move to stabilize the beleaguered Zimbabwe Gold (ZWG) currency, President Emmerson Mnangagwa announced on Wednesday that 50% of mining royalties will be allocated to bolster the currency's r...Published: 03 Oct 2024 at 08:58hrs | 1081 | by Staff reporter
Zimbabwe govt working on currency stability
In a comprehensive State of the Nation Address delivered yesterday at the new Parliament Building in Mt Hampden, President Emmerson Mnangagwa highlighted the government's ongoing efforts to stabilize ...Published: 03 Oct 2024 at 08:47hrs | 169 | by Staff reporter
Foreign mining companies should follow Zimbabwe laws
Foreign mining companies must ensure their operations in Zimbabwe benefit indigenous citizens, who are the rightful owners of the country's natural resources. This was the message from Remigious Matan...Published: 03 Oct 2024 at 08:40hrs | 154 | by Staff reporter
Zimbabwe's currency conundrum: Meagre gold reserves can't sustain the ZiG
Today, during his State of the Nation Address (SONA), President Emmerson Dambudzo Mnangagwa announced that the government would set aside 50% mineral royalties to shore up the local currency. ...Published: 02 Oct 2024 at 20:53hrs | 2936 | by Tendai Ruben Mbofana
Chrome ore concentrates are not minerals, rules Zimbabwe High Court
High Court Justice Siyabona Paul Musithu has issued a landmark ruling that could significantly affect the financial landscape for chrome miners in Zimbabwe. The court has determined that chrome ore co...Published: 20 Sep 2024 at 09:15hrs | 1527 | by Staff reporter
Boost for ZiG as gold deliveries soar
Zimbabwe saw a significant increase in gold deliveries in July, driven mainly by contributions from artisanal and small-scale miners. Deliveries surged by 33% to 3,495 kg from 2,618 kg in June...Published: 11 Aug 2024 at 18:33hrs | 345 | by Staff reporter
2 Zimra officers busted in 26 chrome trucks smuggling deal
Two Zimbabwe Revenue Authority (Zimra) officers stationed in Beitbridge have been arrested for colluding with two other suspects to facilitate the illegal exportation of 26 trucks loaded with chrome c...Published: 23 Jul 2024 at 07:17hrs | 1028 | by Staff reporter
Zimbabwe's currency will remain fully backed by gold reserves
Zimbabwe's government will stick to what it promised when it launched a new currency in April by ensuring it remains fully backed by reserves, the central bank governor told Reuters on Wednesday, addi...Published: 18 Jul 2024 at 09:20hrs | 752 | by Staff reporter
WATCH: A group of artists claims non-payment for work on Madam Boss' skits
Ingwe Farm, Zimbabwe - A group of artists based in Ingwe Farm is alleging that they were not paid fairly for their work on the popular skits "Ka life kemu komboni" and "Komboni life" produced by socia...Published: 15 Jul 2024 at 20:22hrs | 711 | by Gideon Madzikatidze in Ingwe Farm
Reserves backing Zimbabwe's ZiG shoot to US$370 million
Prices of goods and services in Zimbabwe are expected to remain stable, thanks to increased cash and mineral reserves backing the new currency, Zimbabwe Gold (ZiG). These reserves have risen from US$2...Published: 07 Jul 2024 at 10:34hrs | 76 | by Staff reporter
Bulawayo to spend US$10 000 per month to keep tower lights on
The Bulawayo City Council (BCC) is facing a monthly expense of approximately US$10,000 to purchase electricity tokens for tower lights in the city, following their transition to a prepaid system by th...Published: 23 Jun 2024 at 10:33hrs | 5 | by Staff reporter
Zimbabwe mulls probe into drop in gold output
The government is considering investigating the small-scale gold mining sector to determine the factors behind the recent decline in deliveries, amid fears of increased smuggling. Gold production from...Published: 02 Jun 2024 at 09:04hrs | 1 | by Staff reporter
'Zimbabweans will stampede for ZiG by June'
Reserve Bank of Zimbabwe (RBZ) Governor, Dr. John Mushayavanhu has highlighted the impending surge in demand for the Zimbabwean dollar (ZiG) anticipated to occur by June. This surge is expecte...Published: 18 May 2024 at 11:47hrs | 86 | by Staff reporter
ZiG needs to be backed by RBZ discipline
According to the Reserve Bank of Zimbabwe (RBZ), a structured currency is a currency that is pegged to a specific exchange rate or currency basket and backed by a bundle of foreign exchange assets lik...Published: 16 Apr 2024 at 18:04hrs | 2 | by Zimbabwe Coalition on Debt and Development
Annual independent external audit for RBZ reserves
Independent external auditors shall audit Reserve Bank of Zimbabwe (RBZ) precious minerals and foreign currency reserves backing the country's new currency, Zimbabwe Gold (ZiG), once a year as part of...Published: 11 Apr 2024 at 08:32hrs | 16 | by Staff reporter
Half ZiG and coins to start circulating on April 30
The Reserve Bank of Zimbabwe (RBZ) in the 2024 Monetary Policy Statement introduced a new "structured currency" termed ZiG (Zimbabwe Gold) on April 5. A "structured currency" is a currency tha...Published: 07 Apr 2024 at 21:08hrs | 6 | by Staff reporter
Zimbabwe Abandons Weakened Dollar for Gold-Linked Currency
Reserve Bank of Zimbabwe (RBZ) Governor Dr. John Mushayavanhu unveiled the 2024 Monetary Policy Statement (MPS) this afternoon, outlining a comprehensive plan to stabilize the nation's currency. The p...Published: 05 Apr 2024 at 13:28hrs | 97 | by Staff Reporter
Zimbabwe's structured currency launch on Friday
IN a bid to address currency volatility and exchange rate-driven inflation badly battering the economy amid arbitrage, the Zimbabwean government will next week launch a "structured currency" which the...Published: 31 Mar 2024 at 20:50hrs | | by Staff reporter
How NFTs have transformed the art world
The art world has historically been regarded as an exclusive domain, preserved for a select few who have the contacts, money, and expertise required to enter it. Owning a prestigious piece of art has,...Published: 22 Mar 2024 at 09:09hrs | 27 | by Staff Reporter
Afrochine loses US$3m tax battle with Zimra
AFROCHINE Smelting Private Limited has been ordered to pay nearly US$3 million in royalties for under-declaring its earnings. Afrochine Smelting is a company that produces and exports ferrochrome, an ...Published: 11 Mar 2024 at 11:31hrs | 2 | by Staff reporter
'Mutapa Investment Fund mustn't become conduit for looting'
AS prevalence of public sector corruption reaches alarming levels, the International Monetary Fund (IMF) has demanded that Zimbabwean authorities ensure the newly-established Mutapa Investment Fund (M...Published: 11 Mar 2024 at 09:09hrs | 31 | by Staff reporter
Zimbabwe govt's proposed new currency reforms doomed
THE recently proposed currency changes, intended to underpin the Zimbabwe dollar with assets, will come to nought, given that country lacks sufficient reserves to support the local unit, an independen...Published: 25 Feb 2024 at 09:27hrs | | by Staff reporter
Winky D slapped with copyright strikes
The now-defunct music label, Kenako Muzik, has resurfaced to assert its claim for royalties from Winky D, a prominent figure in Zimdancehall.Over the weekend, Kenako Muzik made a move to asser...Published: 21 Feb 2024 at 07:41hrs | 12 | by Staff reporter
Zimbabwe central bank accumulates almost a ton of gold reserves
Zimbabwe's central bank accumulated 793 kilograms (25,000 ounces) of gold reserves since introducing a law that compels mining companies to pay part of their royalties using the metal.The rese...Published: 14 Feb 2024 at 04:46hrs | | by Staff reporter
Bulawayo residents demanding their power station back
Some Bulawayo residents are demanding that the Bulawayo Thermal Power Station be handed back to the Bulawayo City Council (BCC) instead of being decommissioned.This came out during an engageme...Published: 24 Jan 2024 at 19:40hrs | | by Staff reporter
Zimbabwe police warn textbook pirates
In a brief but strongly worded statement, Bulawayo provincial police spokesperson, Inspector Abednico Ncube, said the law enforcement agents will soon descend on perpetrators without fear or favour....Published: 24 Jan 2024 at 04:47hrs | | by Staff reporter
WATCH: DJ Sbu responds to accusations on Zahara's death
South Africans are pointing fingers at DJ Sbu, former manager of the late musician Zahara, and his record label TS Records, accusing them of neglecting the artist's financial well-being. The allegatio...Published: 13 Dec 2023 at 09:32hrs | 4 | by Mandla Ndlovu
Henrietta Rushwaya judge gets US$400,000 house on eve of sentencing
A judge set to deliver judgment in Henrietta Rushwaya's gold smuggling trial was given a house by the government last Friday, ZimLive can reveal.The transaction was approved by chief cabinet s...Published: 15 Nov 2023 at 05:21hrs | 13 | by Staff reporter
Rushwaya deserves a harsh sentence
THE State yesterday said Zimbabwe Miners Federation president, Henrietta Rushwaya, deserves a harsh custodial sentence following her conviction on charges of attempting to smuggle 6 kilogrammes of gol...Published: 15 Nov 2023 at 05:14hrs | 8 | by Staff reporter
D-Day for gold smuggler Rushwaya
ZIMBABWE Miners Federation president Henrietta Rushwaya, recently convicted of trying to smuggle 6kg of gold worth more than US$333 000 to Dubai, United Arab Emirates, will be sentenced at the High Co...Published: 15 Nov 2023 at 05:09hrs | 8 | by Staff reporter
Mnangagwa niece's sentencing delayed again
The High Court has once again deferred sentencing of Zimbabwe Miners Federation (ZMF) president Henrietta Rushwaya to Wednesday after prosecution called in three witnesses to nail her in aggravation. ...Published: 14 Nov 2023 at 20:21hrs | 10 | by Staff reporter
Lawyer takes Mnangagwa to court
HARARE lawyer and businessman Frederick Nyamande has taken President Emmerson Mnangagwa to court following the promulgation of the controversial Mutapa Investment Fund which he argues allows the head ...Published: 09 Oct 2023 at 13:51hrs | 1 | by Staff reporter
How taxation and royalties work in Zimbabwe's mining industry
The mining industry in Zimbabwe is not only rich in mineral resources but also subject to a nuanced taxation and royalty framework. In this article, we delve into the special rules governing taxation ...Published: 05 Oct 2023 at 11:10hrs | 104 | by Clifford S. Ncube
Mnangagwa's 'amendment' 'legalises' looting on a grand scale
CCC Member of Parliament, Fadzayi Mahere, has accused President Emmerson Mnangagwa of attempting to plunder public funds without restrictions through his recent amendment of the Sovereign Wealth Fund ...Published: 22 Sep 2023 at 06:28hrs | | by Staff reporter
Sandawana Mines value shoots to US$3bn
SANDAWANA Mines, which has resumed operations after it shut down years ago due to a number of reasons, is now valued at approximately US$3 billion, up from US$5 million, NewsDay Business can reveal. T...Published: 28 Jul 2023 at 06:45hrs | 1 | by Staff reporter
'Zimbabwe treasury lost $1,6 trillion to tax exemptions'
TREASURY, always in financial distress, lost about $1,6 trillion last year, up 312% compared to the prior year, through tax expenditures consisting of uncollected tax due to exemptions and incentives ...Published: 27 Jul 2023 at 06:39hrs | | by Staff reporter
Chamisa taunts Mnangagwa
CITIZENS Coalition for Change (CCC) leader Nelson Chamisa finally launched his party campaign before a capacity crowd at Gweru's Mkoba Stadium yesterday following weeks of being denied to do so by the...Published: 17 Jul 2023 at 06:59hrs | 12 | by Staff reporter
Floyd 'Money' Mayweather jnr jets into Zimbabwe tomorrow
FLOYD Mayweather Jnr jets into the country midday tomorrow in fulfilment of a promise he made in May last year when he met with boxing enthusiast, businessman and politician Scott Sakupwanya.M...Published: 11 Jul 2023 at 07:39hrs | 11 | by Staff reporter
Chinese firm gets lucrative US$200m Zimbabwe exploration deal
GOVERNMENT has awarded a US$200 million contract to China Harbour Engineering Company (CHEC) to modernise Zimbabwe’s geological survey and metallurgical laboratory infrastructure facilities, the Zim...Published: 25 Jun 2023 at 18:22hrs | 90 | by Staff reporter
Masiyiwa named among only 17 black billionaires in the world
ACCORDING to Forbes, there are currently 2,640 billionaires in the world. They are collectively worth $12.2 trillion. The United States is the number one home of billionaires with 735 of them, followe...Published: 05 Jun 2023 at 06:59hrs | 4 | by Staff reporter
US foreign policy and the Zimbabwe dollar!
In my life journey, my three years stay in Jamaica was probably the most traumatic and most revealing as to how the imperialists work.I am, therefore, surprised that Mthuli Ncube and his handl...Published: 04 Jun 2023 at 08:37hrs | 1 | by Kenneth Mufuka
Lithium investor begins US$22m power line project
LITHIUM giant Bikita Sinomine has started work on the US$22 million (132KVA) power line stretching from Tokwe to Bikita in Masvingo Province.The 120km power line is meant to provide power to t...Published: 01 May 2023 at 08:09hrs | | by Staff reporter
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