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Hillside Teachers' College to build secondary school
HILLSIDE Teachers' College has acquired 600 hectares of land in Matobo District to construct a secondary boarding school, with 60 Form One pupils having already been enrolled.Lessons for the l...Published: 06 Mar 2023 at 05:16hrs | 3 | by Staff reporter
Power cuts could derail industrial targets
The power outages besetting the country are set to derail economic growth prospects during a difficult phase for Zimbabwe when the economy is reeling from the effects of COVID-19, economic analysts an...Published: 28 Sep 2021 at 06:18hrs | 5 | by Staff reporter
Why Zimbabwe's electric vehicle vision may flop
A strategic plan twinning the development of electric vehicle (EVs) in Zimbabwe and commensurate investment into the power industry will be key to sustaining their presence on the country's roads, acc...Published: 09 Dec 2020 at 17:07hrs | | by Staff reporter
Liberalised market expected to generate foreign currency for struggling economy
The Confederation of Zimbabwe Industries (CZI) sees the parallel market exchange rate correcting when it reaches Real Time Gross Settlement (RTGS)$8:US$1, saying there is not enough stock of the local...Published: 31 May 2019 at 08:07hrs | 5 | by Staff reporter
Forex measures suffocate exporters
INDUSTRY has warned a fresh tide of closures of exporting manufacturing companies is looming in Zimbabwe owing to stringent foreign currency retention measures introduced by government in February at ...Published: 31 May 2019 at 08:07hrs | 1 | by Staff reporter
Zimbabwe business agree on price stabilisation process
BUSINESS organisations have agreed on a process to arrest the economic decline and stabilise prices of basic commodities.At the end of last week, the forex parallel market rates had jumped to ...Published: 20 May 2019 at 06:59hrs | 2 | by Staff reporter
Zimbabwe interbank forex market set for overhaul
A proposal has been tabled to overhaul the interbank market with a view to make it market driven and free from government intervention as part of measures to ensure liberalization of the foreign marke...Published: 18 May 2019 at 13:59hrs | 1 | by Staff reporter
Mnangagwa's govt gears for winter of discontent
PRESSURE continues to mount on President Emmerson Mnangagwa as the country faces the prospect of crippling power cuts and looming work stoppages by doctors and teachers over poor salaries.Powe...Published: 14 May 2019 at 11:37hrs | 1 | by Staff reporter
Pressure mounts on Mnangagwa
PRESSURE continues to mount on President Emmerson Mnangagwa as the country faces the prospect of crippling power cuts and looming work stoppages by doctors and teachers over poor salaries.Powe...Published: 14 May 2019 at 08:13hrs | | by Staff reporter
Industry warms up to Zesa tariff increase
MANUFACTURERS say an upward electricity tariff review to allow Zesa Holdings to fund generation projects, in the face of rolling power shortages of up to 10 hours a day in some parts of the country, h...Published: 14 May 2019 at 07:28hrs | 2 | by Staff reporter
Zimbabwe customers hit back at unscrupulous businesses
Prices of some local products appear to have entered a self-correction mode as consumer demand is said to have declined by at least 40 percent. Just last week, listed beverages giant Delta Cor...Published: 14 May 2019 at 07:27hrs | 1 | by Staff reporter
'Private sector frustrates interbank system'
INDUSTRY and Commerce Minister Mangaliso Ndlovu has blamed the private sector for frustrating the success of the interbank foreign currency market by shifting goal posts and blaming Government for the...Published: 30 Apr 2019 at 06:36hrs | 1 | by Staff reporter
The rationale behind Mnangagwa's pro-poor interventions
Since October last year prices of most basic commodities and services have been on an upward trajectory making life difficult for the majority of people. Manufacturers, retailers and other sup...Published: 28 Apr 2019 at 07:49hrs | 3 | by Khumbulani Vodlaza Sibanda
Basic goods prices shoot up 200%
PRICES of basic commodities have risen sharply with some increasing by almost 200% between October last year and April this year, according to official statistics.Presenting a paper titled Zim...Published: 26 Apr 2019 at 17:30hrs | 2 | by Staff reporter
'Zimbabwe economic crisis is not about currency'
ZIMBABWE's economic crisis is not a result of currency shortage but low production, hence government must look at the real issue, economic experts have said.Recently, Finance minister Mthuli N...Published: 23 Apr 2019 at 08:23hrs | | by Staff reporter
Price madness: Manufacturers blame retailers
MANUFACTURES have blamed retailers for the price madness prevailing on the market, accusing them of unethically adding high-profit margins on products, hence suffocating the consuming public.C...Published: 23 Apr 2019 at 07:48hrs | 2 | by Staff reporter
WATCH: Historic ZITF opens
THE 60th edition of the Zimbabwe International Trade Fair (ZITF) opens in Bulawayo today with record breaking subscription at 532 direct local exhibitors and 16 countries participating. ...Published: 23 Apr 2019 at 07:02hrs | | by Staff reporter
Mnangagwa told to be realistic
GOVERNMENT needs to be realistic about the economic situation in the country, captains of industry have said.They were reacting to statements made by President Emmerson Mnangagwa in his keynot...Published: 22 Apr 2019 at 08:38hrs | 2 | by Staff reporter
RTGS$ plunges
Zimbabwe is nearing the much dreaded economic horrors of 2008 punctuated by hyperinflation, widespread shortages of foreign currency and fuel coupled with a spike in prices of everything, including st...Published: 21 Apr 2019 at 08:55hrs | 35 | by Staff reporter
Zimbabwe black market running amok
GOVERNMENT is facing renewed pressure on the economic front, with the parallel foreign currency market once again running amok — pushing the prices of basic consumer goods like bread beyond the reac...Published: 17 Apr 2019 at 07:25hrs | 2 | by Staff reporter
Mthuli Ncube triggers panic
LONG-suffering Zimbabweans should brace for even tougher economic times ahead, following last week's surprise announcement by Finance minister Mthuli Ncube that the country would have yet another curr...Published: 15 Apr 2019 at 10:56hrs | 2 | by Staff reporter
Zimbabwe says US$ not good for economy
ZIMBABWE's continued use of the United States dollar is no longer sustainable for the economy as it hurts industry's competitiveness, a Cabinet minister has said.Industry and Commerce minister...Published: 14 Apr 2019 at 10:03hrs | | by Staff reporter
Mnangagwa fumes
PRESIDENT Emmerson Mnangagwa yesterday warned retailers and companies against "unjustified" price increases which he said had brought untold suffering to ordinary Zimbabweans.Incidentally, as ...Published: 12 Apr 2019 at 08:24hrs | 2 | by Staff reporter
'Exports, investor confidence to jumpstart forex inflows'
The Reserve Bank of Zimbabwe (RBZ) says the country's forex situation will improve as the year progresses on the back of increased confidence and growing exports.RBZ deputy director for econom...Published: 12 Apr 2019 at 06:42hrs | 3 | by Staff reporter
The dynamics of smuggling in Zimbabwe
Catch me if you can, is a phrase that may describe the goings on at Zimbabwe's ports of entry as the Treasury continues to lose millions of dollars in revenue due to smuggling and other criminal activ...Published: 11 Apr 2019 at 16:39hrs | | by Staff reporter
Make fresh interbank interventions: Industry
CAPTAINS of industry have called on authorities to make fresh interventions in the inter-bank market to ensure access to foreign currency for importation of critical raw materials for the manufacturin...Published: 09 Apr 2019 at 07:22hrs | | by Staff reporter
Prices of goods have risen by between 25 and 75%
RETAILERS have said consumer spending has declined considerably in recent months, as Zimbabwean consumers cannot afford to maintain spending with the high prices of goods and services. Prices ...Published: 09 Apr 2019 at 07:17hrs | 2 | by Staff repoirter
Mthuli Ncube's RTGS $ under siege
ZIMBABWE's local currency, the RTGS dollar, has shed more than 20 percent of its value since its introduction as the availability of foreign currency on the formal market remains subdued.By Fr...Published: 07 Apr 2019 at 12:43hrs | 4 | by Staff reporter
Fresh price hikes hit Zimbabweans
CONSUMERS have expressed shock after major supermarkets and small scale retailers once again increased prices of some basic commodities by margins of up to 75 percent. Despite the stability in...Published: 02 Apr 2019 at 08:02hrs | 4 | by Staff reporter
Afreximbank grants Zimbabwe interbank forex trade loan
Cairo-based Africa Export and Import Bank (Afreximbank) has extended an undisclosed amount in lines of credit to Zimbabwe's interbank foreign exchange trading to stabilise the forex supply...Published: 24 Mar 2019 at 18:55hrs | 21 | by Staff reporter
Government starts fuel bonuses
Government will now refund businesses for extra costs incurred in buying fuel at new prices that became effective on January 13, raising expectations that this might positively impact on prices, it ha...Published: 23 Mar 2019 at 22:26hrs | | by Staff reporter
Cyclone Idai weakens Zimbabwe's export competitiveness
ZIMBABWE's export promotion body, Zimtrade has said the country's exports were left uncompetitive after Cyclone Idai destroyed Beira Port leaving companies to use longer routes which are more expensiv...Published: 21 Mar 2019 at 07:49hrs | 1 | by Staff reporter
'Interbank market won't be manipulated'
Mechanisms have been put in place to ensure that the foreign currency interbank market will not be manipulated, Finance and Economic Development Minister Professor Mthuli Ncube has said. This ...Published: 19 Mar 2019 at 06:25hrs | | by Staff reporter
RBZ, CZI push for interest on forex accounts
The Reserve Bank of Zimbabwe (RBZ) and industry are currently engaging banks to offer interest on foreign currency deposits in order to attract more inflows, particularly those with a long-term tenure...Published: 17 Mar 2019 at 08:33hrs | | by Staff reporter
'Fuel import liberalisation to ease forex demand'
BUSINESS and analysts say the move by government to liberalise fuel imports will ease pressure on forex demands and improve supply of the commodity across the country.Zimbabwe relies on fuel i...Published: 08 Mar 2019 at 07:01hrs | 1 | by Staff reporter
Zimbabwe consumer prices post first drop in months
Some local consumer prices marginally fell this week for the first time in months as declining costs for foreign exchange offset rising prices after the central bank ditched the fanciful greenback bon...Published: 07 Mar 2019 at 13:26hrs | | by Staff reporter
Botswana credit line to Zimbabwe unpacked
The $95-million credit line to Zimbabwe is earmarked for the private sector and revival of struggling industries.Although this is a drop in the ocean to what Zimbabwe requires for total recove...Published: 04 Mar 2019 at 07:29hrs | 3 | by DW
Government to liberalise fuel imports
GOVERNMENT is working on a new set of regulations that would allow holders of free funds to import fuel to augment current supplies.In 2015, Statutory Instrument (SI) 171 was amended to allow ...Published: 03 Mar 2019 at 01:36hrs | 2 | by Staff reporter
Mnangagwa mortgages diamonds to Botswana
PRESIDENT Emmerson Mnangagwa's government could be mortgaging the country's diamond deposits to Botswana, which has offered the struggling economy a US$500 million bailout backed by diamonds and a fur...Published: 26 Feb 2019 at 20:33hrs | 3 | by Staff reporter
2-day indaba to track Mnangagwa progress
SIVIO Institute will host a two-day conference to deliberate on the progress made under President Emmerson Mnangagwa's leadership and launch an online tracking tool."The aim of the conference ...Published: 26 Feb 2019 at 06:57hrs | 2 | by Staff reporter
Mangudya is a thief, he has devalued people's salaries
Reserve Bank of Zimbabwe (RBZ) governor John Mangudya yesterday announced the eagerly awaited monetary policy for 2019, in which he liberalised the trade of foreign currency and effectively declared t...Published: 21 Feb 2019 at 07:33hrs | | by Staff reporter
Problems at Eskom won't affect Zimbabwe
THE Zimbabwe Electricity Supply Authority (Zesa) has assured its clients that the power generation challenges being experienced by its South African supplier, Eskom would not spill over into Zimbabwe ...Published: 13 Feb 2019 at 08:42hrs | | by Staff reporter
Dairibord boss calls for new Zimbabwe currency
DAIRIBORD Holdings Limited chief executive officer Mr Antony Mandiwanza has waded into the debate over the re-introduction of a local currency, saying using the US dollar to produce pushes up operatin...Published: 10 Feb 2019 at 05:47hrs | | by Staff reporter
'Zimbabwe to introduce domestic currency'
Zimbabwe will reintroduce domestic currency only when conditions are ripe and critical economic fundamentals are in place since using the US dollar as an anchor currency is now unsustainable, accordin...Published: 08 Feb 2019 at 09:04hrs | | by Business weekly
Zimbabwe banks plunge deeper into forex crisis
A vendor counts money at a vegetable street market in Caracas, Venezuela, on Wednesday, Aug. 17, 2016. Venezuela's imports from its six biggest trading partners including Brazil, the U.S., China, Arge...Published: 01 Feb 2019 at 14:06hrs | | by Staff reporter
Zimbabwe's central bank to allow US dollar trading
Zimbabwe's central bank says it has upgraded its RTGS platform to allow the settlement of transactions in dollars and trading will go live on February 1.Trading is currently in test mode, it s...Published: 29 Jan 2019 at 08:23hrs | 1 | by Bloomberg news
'Float or demonetise bond notes,' says experts
RESERVE Bank of Zimbabwe (RBZ) governor John Mangudya is this week expected to present the monetary policy statement amid calls that he should address the deep-seated currency challenges which are aff...Published: 27 Jan 2019 at 19:18hrs | 1 | by Staff reporter
Internet shutdown negatively impacts on Zimbabwe businesses
THE internet shutdown by government has had an adverse impact on business operations in various sectors of the economy, businessdigest has learnt.Government last week switched off internet con...Published: 25 Jan 2019 at 14:06hrs | 1 | by Staff reporter
Zimbabwe counts cost of violent stay-away
GOVERNMENT has expressed concern over the negative impact of the violent protests, which rocked Zimbabwe last week, paralysing business activity and public sector operations, amid fears the ugly event...Published: 20 Jan 2019 at 09:08hrs | 1 | by Staff reporter
Temporary forex relief for companies
COMPANIES facing imminent closure due to lack of foreign currency got temporary respite after government issued letters of credit allowing large corporates to procure raw materials, Confederation of Z...Published: 18 Jan 2019 at 12:16hrs | 1 | by Staff reporter
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