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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
Simbisa Bulawayo outlet employees test positive for Covid-19
Several employees at the listed leading fast-food chain, Simbisa Brands, in Bulawayo have reportedly tested for Covid-19 amid reports the issue is being kept under wraps by the management. Sim...Published: 06 Dec 2020 at 23:00hrs | 795 | by Staff reporter
Rushed Zim Dollar introduction cost the economy
The Zimbabwean government recently gazetted the Finance Bill (H.B.4 of 2020) which validates the fiscal changes that were tabled in the Mid-Term budget review in July 2020. The Bill amends the Gains T...Published: 22 Sep 2020 at 18:17hrs | 1313 | by Victor Bhoroma
Cassava jumps to the top on ZSE
Fintech group, Cassava Smartech, has jumped to top company on the Zimbabwe Stock Exchange (ZSE) by market capitalisation, replacing Delta from its long held position. Figures from the local bo...Published: 27 Apr 2020 at 09:31hrs | 224 | by Staff reporter
Zimbabwe must introduce wealth tax and improve our health sector as Nguwaya donates drugs
Mr D Nguwaya a Zimbabwean business man has challenged other Zimbabwean businesses to come together and help the government to fight COVID 19. Mr D Nguwaya is a decorated dedicated Zimbabwean business ...Published: 25 Apr 2020 at 17:45hrs | 2464 | by Dr Masimba Mavaza
Poverty levels rise as COVID-19 hits Zimbabwe
The poverty levels in Zimbabwe are likely to worsen as an effect of the COVID-19 global pandemic that has hit world economies resulting in business operations coming to a standstill in most countries....Published: 13 Apr 2020 at 08:20hrs | 211 | by Staff repprter
Zimbabwe in throes of unprecedented recession
ZIMBABWE will struggle to recover from the recession caused by the Covid-19 pandemic as companies are already beginning to show signs of severe stress.Companies are struggling to remain viable and...Published: 10 Apr 2020 at 08:31hrs | 332 | by Staff reporter
Simbisa lays off contract workers
LOCAL companies are starting to feel the pinch of coronavirus, with Zimbabwe Stock Exchange (ZSE)-listed fast-foods concern Simbisa Brands announcing that it is laying off contract workers, putting em...Published: 07 Apr 2020 at 07:49hrs | 268 | by Staff reporter
Baker's Inn reduces bread supply
BREAD manufacturer, Baker's Inn, says it has reduced supply of bread onto the market due to depressed demand following the 21-day national lockdown period. Speaking by telephone from Harare ye...Published: 01 Apr 2020 at 07:34hrs | 415 | by Staff reporter
5 armed robbers killed in shoot-out
FIVE armed robbers accused of robbing two Harare businessmen - Messrs Tawanda Nyambirai and Rodney Dangarembizi - of over US$220 000, were yesterday killed in a shoot-out with detectives. Two ...Published: 20 Mar 2020 at 20:36hrs | 448 | by Staff reporter
Armed robbers killed in shoot-out with
FIVE armed robbers accused of robbing two Harare businessmen - Messrs Tawanda Nyambirai and Rodney Dangarembizi - of over US$220 000, were yesterday killed in a shoot-out with detectives.Two o...Published: 20 Mar 2020 at 17:42hrs | 2051 | by Staff Reporter
'ZSE a safe haven for investors in 2020'
THE Zimbabwe Stock Exchange (ZSE) will recover this year as valuation mismatches on stocks brought by the de-dollarisation of the economy are corrected, a latest report has said.In their 2020 ...Published: 08 Mar 2020 at 13:14hrs | 298 | by Staff reporter
Simbisa targets 15 new outlets
ZIMBABWE's largest fast-food chain, Simbisa Brands Limited (Simbisa) is targeting to open 15 new outlets across the country this year, at an estimated cost of US$3 million, managing director Warren Me...Published: 21 Feb 2020 at 05:51hrs | 353 | by Staff reporter
'Zimbabwe is redollarising, not de-dollarising'
On Tuesday, ZUVA Petroleum announced that eight of its service stations would be accepting foreign currency payments as number of fuel operators continue to withhold the liquid.ZUVA said four ...Published: 20 Feb 2020 at 13:29hrs | 723 | by Staff reporter
Chicken Inn rapped for selling ‘poisonous’ chicken
Fast food outlet Chicken Inn, a part of Simbisa Brands, has been accused of selling rotten chicken and exposing customers to serious health risk. ...Published: 15 Feb 2020 at 07:56hrs | 1805 | by Staff Reporter
Pizza Hut opens second branch in Bulawayo
AMERICAN fast food giant, Pizza Hut has opened a second branch in Bulawayo as the brand continues to focus on growing within the Zimbabwean market. The international fast food brand opened its...Published: 08 Jan 2020 at 07:41hrs | 2523 | by Staff Reporter
More Zimbabwe businesses join Black Friday crusade
MORE businesses in Zimbabwe have joined the Black Friday craze set for today by slashing prices of their goods and services in a bid to stimulate consumer spending. For others like Gold Medal ...Published: 29 Nov 2019 at 09:38hrs | 648 | by Staff reporter
Countdown to Black Friday
BLACK Friday, that time when shoppers go ballistic in trying to clinch the best deals ahead of the festive season is here! The overrated Black Friday shopping frenzy, an informal name for the Fr...Published: 27 Nov 2019 at 06:20hrs | 1112 | by Staff reporter
RBZ raids US$3,2bn in depositors' funds
THE Reserve Bank of Zimbabwe (RBZ) raided depositors' accounts, wiping out US$3,2 billion in the process, before introducing bond notes in 2016 and eventually outlawing the use of foreign currency in ...Published: 22 Nov 2019 at 18:07hrs | 5509 | by Staff reporter
Zimbabwe set to gain from depreciating currency
Zimbabwe may have to roll up its sleeve with regards to the newly-established single continental market for goods and services, the African Continental Free Trade Area (AfCFTA).AfCFTA will ope...Published: 27 Oct 2019 at 09:52hrs | 1330 | by Staff reporter
Bread price shoots to $16 a loaf
THE Consumer Rights' Association says bread is now beyond the reach of many consumers in the country after retailers this week increased its price to almost ZWL$16 a loaf from around ZWL$10. A...Published: 17 Oct 2019 at 08:50hrs | 20 | by Staff reporter
Zimbabwe adopts hyperinflation reporting
Zimbabwe's listed companies will start presenting their financial statements using the hyperinflationary economies standard (IAS) following approval by the Public Accountants Board (PAAB).Acco...Published: 15 Oct 2019 at 06:45hrs | 916 | by Staff reporter
Zimbabwe gears for hyperinflation reporting
ZIMBABWE is on the verge of adopting a hyperinflation financial reporting model at a time inflation figures have spiked as its fragile economy teeters on the brink of collapse.The reporting modali...Published: 10 Oct 2019 at 06:55hrs | 567 | by Staff reporter
Simbisa suffers exchange rate loss
LISTED fast food retail giant, Simbisa Brands Limited suffered a net foreign exchange loss of $2,7 million during the year ended June 2019, arising from revaluation of foreign denominated assets and l...Published: 09 Oct 2019 at 07:01hrs | 305 | by Staff reporter
Confusion over Sekuru Ndunge's estate
THE mystery that defined Sekuru Ndunge's life and work persists several months after his demise. The revered traditional healer - famed for possessing supernatural powers that attracted people of diff...Published: 29 Sep 2019 at 12:16hrs | 204 | by Staff reporter
'Ndunge's' son jailed for cellphone theft
Is he a real prophet or a thief . . . you decide!A self-proclaimed prophet based in Bulawayo's Northend suburb that claims to be the late popular Chipinge n'anga Sekuru Ndunge's son has been j...Published: 21 Sep 2019 at 06:43hrs | 198 | by Staff reporter
Zimbabwe's richest: How they made their money
WHILST there is no official list of Zimbabwe's richest men and women, such as the one compiled by the Times and Forbes Magazine, the country has its fair share of rich people, including some who are m...Published: 08 Sep 2019 at 07:26hrs | 1034 | by Staff reporter
Zimbabwe power outages a manifestation of endemic corruption in govt
THE massive daily power outages rocking the country have had a devastating impact on an already fragile economy, throwing into disarray President Emmerson Mnangagwa's mantra that "Zimbabwe is open for...Published: 12 Jul 2019 at 09:24hrs | 1137 | by Staff reporter
Zimbabwe retailers in major price climbdown
THE price hike madness that had manifested in the country in recent weeks appears to be dissipating with some of the major players in the economy starting to see reason following the gazetting of Stat...Published: 08 Jul 2019 at 07:51hrs | 2368 | by Staff reporter
Mthuli Ncubes' pass to ease dollar woes works, for now
Crisis-stricken Zimbabwe may have landed a raft of major monetary-policy reforms that were dubbed by one analyst as a "Hail-Mary pass."Last week, the central bank banned the use of foreign cur...Published: 05 Jul 2019 at 08:25hrs | 3790 | by Staff reporter
PHOTOS: Mthuli Ncube's magic now working?
FINANCE Minister Mthuli Ncube's prophecy that prices of basic goods in terms of RTGS$ were, in fact, going down looks like is coming to pass.Professor Ncube in June said that reforms whic...Published: 04 Jul 2019 at 21:52hrs | 18892 | by Staff reporter
Zimbabwe businesses reduce prices
Zimbabwean businesses have started to reduce prices of services and commodities following threats issued by President Emmerson Mnangagwa that the government would be taking measures to enforce price r...Published: 04 Jul 2019 at 17:18hrs | 4976 | by Staff reporter
Simbisa Brands slashes prices
LISTED quick service business, Simbisa Brands, has set the pace by slashing prices of its major products by 20 percent margins in response to monetary and fiscal consolidation measures being implement...Published: 04 Jul 2019 at 07:57hrs | 3796 | by Staff reporter
Zanu-PF's power obsession in hunger-stricken nation
THE acquisition of a huge assortment of weapons and ammunition at a time the country's economic crisis is deepening is reflective of government's misplaced priorities, as well as President Emmerson Mn...Published: 21 Jun 2019 at 07:49hrs | 1053 | by Staff reporter
Zimbabwe runs out of wheat
Zimbabwe has run out of wheat and bakeries in the country may soon not be able to produce bread.One of the leading bakeries has suspended operations and other major players are holding their b...Published: 16 Jun 2019 at 09:41hrs | 990 | by Staff reporter
Bulawayo's transport network affects tourism
Bulawayo's poor transport network is negatively affecting tourism in the city, Bulawayo Publicity Association (BPA) has said.BPA recently had an opportunity to market the City of Kings and Que...Published: 10 May 2019 at 07:04hrs | 1106 | by Staff reporter
Zimbabwe companies get greenlight to report in US$
THE Public Accountants and Auditors' Board (PAAB) has issued a new reporting guidance framework that permits companies to present financials for year ending December 31, 2018 in United States dollars ...Published: 27 Mar 2019 at 07:00hrs | 968 | by Staff reporter
Alternative currencies still legal tender in Zimbabwe
Legal think tank Veritas says the use of alternative currencies remains legal as Statutory Instruments (SIs) 32 or 33 of 2019 do not prohibit their use for pricing, recording debts, accounting and set...Published: 26 Mar 2019 at 06:18hrs | 622 | by Staff reporter
Pizza Inn, Chicken Inn open in Gwanda
SIMBISA Brands has opened its first Pizza Inn branch in Gwanda and a second Chicken Inn branch in the mining town. In an interview during the official opening of the new outlets yesterday, Chi...Published: 20 Feb 2019 at 22:38hrs | 402 | by Staff reporter
Mnangagwa leads Clean-Up from Parirenyatwa Hospital
PRESIDENT Mnangagwa today heads to Parirenyatwa Group of Hospitals in Harare for the national monthly clean-up exercise as Government intensifies efforts to build sustainable environment management an...Published: 31 Jan 2019 at 22:46hrs | 1076 | by Staff reporter
Zimbabwe now has the world's highest petrol price
Police clashed with protesters in the Zimbabwean capital as the main labor-union confederation began a three-day national strike after the government more than doubled fuel prices to the highest in th...Published: 14 Jan 2019 at 22:26hrs | 761 | by Bloomberg
Man jailed 4 years for impregnating niece
A man who impregnated his 18-year-old niece before his wife took her to a traditional healer to terminate the pregnancy has been jailed for four years.James Chihuri, 51, of Seke, was initially...Published: 10 Jan 2019 at 12:19hrs | 1312 | by Staff reporter
Valueless bond notes the source of Zimbabwe's problems, say analysts
GOVERNMENT'S promise to avail foreign currency to the country's largest beverages manufacturer, Delta Corporation, to avoid forex pricing is not sustainable, analysts have said.Delta last Wedn...Published: 06 Jan 2019 at 10:13hrs | 1393 | by Staff reporter
Consumers appeal for protection against wave of pricing in forex
THE Consumer Council of Zimbabwe (CCZ) has appealed for urgent Government intervention in protecting consumers against the tide of foreign currency pricing of goods and services at a time when a major...Published: 04 Jan 2019 at 09:15hrs | 392 | by Staff reporter
Mnangagwa's Minister to meet Delta over US dollar prices
DELTA Corporation yesterday said it would start selling all its products in foreign currency with effect from tomorrow, a decision described by the Government as unacceptable and illegal. Anal...Published: 03 Jan 2019 at 09:11hrs | 1978 | by Staff reporter
It's time to just re-dollarise the Zimbabwe economy
THE recent announcement by one of country's stock market leaders, Delta Beverages, that it will be selling its products in United States dollars starting tomorrow should be a wake-up call to governmen...Published: 03 Jan 2019 at 09:08hrs | 1070 | by Editorial - newsday
Local firms in SOS over forex crunch
Local manufacturers have asked government to liberalise the foreign exchange market as most companies continue to face challenges in accessing the elusive greenback from the Reserve Bank of Zimbabwe a...Published: 20 Dec 2018 at 09:02hrs | 906 | by Staff reporter
Ginimbi didn't buy Chicken Inn for inmates
Harare businessman and socialite, Genius "Ginimbi" Kadungure who yesterday trended on social media after allegedly treating 1 000 inmates to 2 piecer meals from Chicken Inn has denied these claims. ...Published: 22 Nov 2018 at 05:51hrs | 2710 | by Staff reporter
Haefelis opens in Harare
As the "coffee culture" grows in Harare with various shops popping up especially in the northern suburbs, Simbisa Brands has introduced their highly coveted Haefelis Confectionery and Coffee Co at Chi...Published: 04 Oct 2018 at 05:35hrs | 406 | by Staff reporter
Bread price shoots up, bakeries shut down
THE price of bread is set to go up today as bakers struggle to secure flour amid rising operational costs and shortage of foreign currency to buy essential raw materials and equipment, it has emerged....Published: 15 Sep 2018 at 09:24hrs | 3081 | by Staff reporter
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