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Zimbabwe inflation eases
Zimbabwe's inflation rate eased significantly in November, marking a slowdown to 11.7% from 37.2% in October, according to the Reserve Bank of Zimbabwe (RBZ). The decline was attributed to the central...Published: 05 Dec 2024 at 11:08hrs | 489 | by Staff reporter
Ramaphosa's economy shrinks 0.3%
The South African economy unexpectedly contracted by 0.3% from the second to the third quarter this year.Economists polled by Reuters expected growth of 0.5%.In the third quarter, the ...Published: 03 Dec 2024 at 15:39hrs | 308 | by Staff reporter
RBZ pumps US$32 million into market
The Reserve Bank of Zimbabwe (RBZ) has infused approximately US$32 million into the interbank foreign exchange market over the past three weeks to stabilize the Zimbabwe Gold (ZiG) currency and addres...Published: 27 Oct 2024 at 12:19hrs | 156 | by Staff reporter
Starlink users in Zimbabwe experiencing slow speeds
The Starlink internet service experienced significant slowdowns in Harare on Tuesday, with experts attributing the disruptions to high demand and congestion. Many users reported connectivity issues th...Published: 09 Oct 2024 at 16:55hrs | 7360 | by Staff reporter
Fresh push to drive intra-Sadc trade
Industry and Commerce Minister Nqobizitha Ndlovu urged the private sector to identify obstacles hindering regional trade within Sadc nations, aiming to enhance intra-Africa trade amid recent tensions ...Published: 24 Jun 2024 at 07:03hrs | 1 | by Staff reporter
IMF to visit Zimbabwe next month
The International Monetary Fund (IMF) is scheduled to visit Zimbabwe this month for its Article IV consultation mission amid concerns about the country's economic trajectory. The mission will ...Published: 09 Jun 2024 at 09:10hrs | | by Staff reporter
GMB maize stocks fall
MAIZE stocks have declined in the nation's reserves at Grain Marketing Board (GMB) depots dotted across the country, and this may worsen food insecurity situation at a time when inflation and currency...Published: 11 Mar 2024 at 09:08hrs | 1 | by Staff reporter
'Zimbabwe cement manufacturers exceeding local demand'
AFTER years of subdued production, local cement manufacturers are now exceeding local demand, Cabinet has revealed.Some 2.6 million tonnes of cement are now being locally produced against a de...Published: 06 Mar 2024 at 04:42hrs | 3 | by Staff reporter
Deloitte exits Zimbabwe as management leads buyout
Deloitte, one of the world's big four accountancy firms, is leaving its Zimbabwe business and senior partners will buy out the unit.The Zimbabwe practice will exit the Deloitte network by Octo...Published: 15 Feb 2024 at 10:15hrs | | by Staff reporter
Mthuli Ncube's taxes kick in
Zimbabweans will begin a new year tomorrow faced with a basket of new taxes, levies and fees that will push up the cost of living for many that are already struggling to make ends meet.Finance...Published: 31 Dec 2023 at 13:00hrs | 10 | by Staff reporter
Zimdollar decline fueled by surge in money supply
THE Zimbabwe dollar has taken a battering in the past month with economists attributing the depreciation of the local currency to increased money supply after private and public sector employees were ...Published: 24 Dec 2023 at 16:10hrs | 9 | by Staff reporter
Mthuli Ncube's budget dilemma
DON'T tell me what you value, show me your budget and I'll tell you what you value:" Joe Biden.Ordinarily, Finance minister Mthuli Ncube should have presented the ZWL$47,8 trillion 2024 nation...Published: 25 Nov 2023 at 07:59hrs | 10 | by Paidamoyo Muzulu
Zimplats is cutting spending on its US$1.8bn projects
The decline in global platinum prices is compelling Impala Platinum to reduce its planned expenditures across its operations, including Zimplats, which is expected to negatively impact local suppliers...Published: 03 Nov 2023 at 08:22hrs | 9 | by Staff reporter
'Zimbabwe to record biggest inflation decline'
Zimbabwe is expected to record the biggest fall in inflation in the southern African region next year, according to the latest report by the African Development Bank (AfDB).This is largely due...Published: 04 Aug 2023 at 06:37hrs | 11 | by Staff reporter
Zimbabwe GDP jumps 6,2% to $56 billion
ZIMBABWE's gross domestic product (GDP) grew by 6,2 percent to clock $56,1 billion during the first quarter of the year 2023 when compared to $52,8 billion recorded in the same period last year....Published: 14 Jul 2023 at 07:43hrs | 6 | by Staff reporter
Remittances anchor Zimbabwean economy
THE World Bank recently released global diaspora remittance statistics, which show that expatriates from low and middle-income countries sent over US$647 billion to their home countries in 2022....Published: 07 Jul 2023 at 07:52hrs | 12 | by Victor Bhoroma
ZESA pays coal suppliers in forex
ZESA Holdings is now paying coal suppliers in foreign currency, a development expected to ensure smooth supply of the commodity to the expanded Hwange thermal power station.The Coal Producers ...Published: 15 Jun 2023 at 06:41hrs | | by Staff reporter
Mthuli Ncube feels heat
THE government's ambitious growth projections are unlikely to be met because of protracted blackouts, which have stifled exports and further weakened the local currency.In December last year, ...Published: 02 Jun 2023 at 18:17hrs | 1 | by Staff reporter
Zimdollar plunges 53%
UNCERTAINTY over Zimbabwe's growth prospects deepened this week, after a leading advisory said its currency had shed 58% of its value in the first quarter.It was a continuation of negative dev...Published: 14 Apr 2023 at 19:48hrs | 1 | by Staff reporter
Govt engages contractors to fix pot holes
THE Transport ministry says it plans to engage contractors to work on potholes which have rendered most public roads impassable.In a statement, Transport minister Felix Mhona said: "As a minis...Published: 04 Apr 2023 at 06:32hrs | | by Staff reporter
World Bank says Zimbabwean economy to maintain modest growth in 2023
Zimbabwe's economy is projected to grow at a modest growth rate in 2023 against a weakening global economic growth outlook, according to the World Bank.Speaking at the Economic and Business Ou...Published: 09 Feb 2023 at 05:11hrs | 1 | by Staff reporter
Mnangagwa says households may be disconnected from the national electricity grid
PRESIDENT Emmerson Mnangagwa yesterday said households may be disconnected from the national electricity grid in response to the crippling energy crisis."We have a blueprint which targets hous...Published: 05 Dec 2022 at 05:11hrs | | by Staff reporter
IMF rules out loans for Zimbabwe
An International Monetary Fund (IMF) staff team led by Dhaneshwar Ghura conducted a staff visit in Harare during September 12–19, 2022, to discuss recent economic developments and the economic outlo...Published: 20 Sep 2022 at 18:46hrs | 1 | by Staff reporter
Zimbabwe food inflation tops world, claims WB report
LATEST World Bank statistics indicate that Zimbabwe has the highest food inflation of 353%.Recently, Zimbabwe was ranked second to Lebanon, but it has since overtaken the Middle East country o...Published: 20 Sep 2022 at 06:05hrs | 7 | by Staff reporter
Zimdollar depreciation on parallel and RBZ markets eases
THE depreciation of the Zimbabwean dollar has begun to ease on both the parallel and official market following months of a sustained downward spiral which saw the local currency losing more than half ...Published: 18 Aug 2022 at 06:48hrs | 8 | by Staff reporter
New Harare's US$500m Cyber City to feature 250 townhouses
PRESIDENT Emmerson Mnangagwa last week broke ground to launch the $500 million Zim Cyber City, a hi-tech park near capital Harare, that is being developed by UAE-based diversified industrial conglomer...Published: 24 Jul 2022 at 10:04hrs | 27 | by Staff reporter
Mnangagwa to copy Putin's currency strategy
Zimbabwe's President Emmerson Mnangagwa is trying to emulate Russian President Vladimir Putin in his attempt to revive Africa's worst performing currency. Mnangagwa's administration may announ...Published: 03 May 2022 at 06:43hrs | | by Staff reporter
Potraz denies throttling the internet
THE launch of the opposition Citizens' Coalition for Change (CCC) led by Nelson Chamisa last Sunday overwhelmed Zimbabwe's internet connectivity, sparking fears that the authorities in Harare had thro...Published: 26 Feb 2022 at 19:31hrs | 16 | by Staff reporter
'Zimbabwe among world's 3 leading internet censors'
ZIMBABWE has been ranked among the world's three countries with the most restrictive social media policies, especially during elections.A report by cybersecurity company, Surfshark on internet...Published: 23 Feb 2022 at 05:49hrs | 8 | by Staff reporter
Misa blasts internet slowdown during Chamisa's rally
THE Media Institute of Southern Africa (Misa-Zimbabwe) has blasted the internet slowdown on Sunday at a time when the main opposition Citizens Coalition for Change (CCC) led by Nelson Chamisa was hold...Published: 22 Feb 2022 at 05:39hrs | | by Staff reporter
Zimbabwe tops Sadc on mobile money use
Global System for Mobile Communications Association (GSMA), an association of mobile telecoms from across the world, has ranked Zimbabwe top of the Southern African Development Community (SADC)'s 16 m...Published: 28 Dec 2021 at 07:03hrs | 7 | by Staff reporter
Shake-up at African Sun
AFRICAN Sun Limited (ASL) managing director Edwin Shangwa will leave Zimbabwe's largest hospitality chain at the end of this year following a surprise shake-up announced yesterday, which will also see...Published: 16 Nov 2021 at 05:42hrs | 1 | by Staff reporter
Why does the gambling industry boom in times of economic hardship?
There is no doubt that recent times have been tough economically for many countries around the globe. While some nations might have been facing hard times anyway, Covid-19 has really put a spanner in ...Published: 11 Oct 2021 at 14:01hrs | 8 | by Staff Writer
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 | 1 | by Staff reporter
China stopping coal funding could power down Zimbabwe's energy plans
IF THERE is a country likely to be hurt the most by President Xi Jinping's decision for Beijing to stop building new power plants overseas, it is Zimbabwe.Among several African countries with ...Published: 26 Sep 2021 at 10:18hrs | 8 | by Staff Reporter
Zimbabwe hits 3 million first jabs
More than 3 million Zimbabweans, 20 percent of the entire population, have now entered the national vaccination programme by having their first shot of Covid-19 vaccine with more than 2,157 million of...Published: 25 Sep 2021 at 06:00hrs | 1 | by Staff reporter
Why are Zimbabwean companies failing to pay taxes?
A ZIMBABWE Revenue Authority (Zimra) annual report for 2020 released last week confirmed the heavy burden that the country's industries are battling to contain — outstanding taxes are mounting, and ...Published: 20 Sep 2021 at 07:13hrs | | by Staff reporter
Economists cautious as inflation falls
ECONOMISTS have given mixed views about Zimbabwe's decelerating annual inflation with some saying the rate could spike once spending increases.However, others told NewsDay Business yesterday t...Published: 06 Sep 2021 at 05:30hrs | 2 | by Staff reporter
'Zimbabwe industry defies odds, hits 95% capacity'
ZIMBABWE'S industries have emerged from the crossfire of Covid-19-induced lockdowns and forex shortages to extend a bounce-back registered since the second quarter of this year, central bank chief Joh...Published: 27 Aug 2021 at 06:39hrs | | by Staff reporter
Stanbic maintains steady performance in first half
Stanbic Bank has transcended the macroeconomic challenges bedeviling the country to post an inflation adjusted profit after tax of ZWL 1.2 billion for the half year to June 2021.The Standard B...Published: 26 Aug 2021 at 08:26hrs | | by Staff reporter
Zimbabwe ranked second least happy country in the world
The 2021 World Happiness Report is out, and Zimbabwe ranked one step above Afghanistan, the world’s unhappiest country in the world. A total of 149 countries made the pool of countries that were ran...Published: 31 Jul 2021 at 20:02hrs | 1 | by Tafara Mtutu
Resurgent power outages to gnaw at growth targets
THE power outages currently besetting the country are set to derail economic growth prospects at a time the economy is already reeling from Covid-19. Zesa has imposed rolling blackouts that ar...Published: 30 Jul 2021 at 07:31hrs | 7 | by Staff reporter
Zimbabwe's poverty datum line increases
THE Zimbabwe National Statistical Agency (ZimStats) yesterday said the country's year-on-year inflation figure eased to 56,37% in July, down from 106,4% in June.ZimStats also said the total co...Published: 28 Jul 2021 at 07:48hrs | | by Staff reporter
'Inflation a Zimbabwe regime change tool'
AFTER two decades of blaming sanctions imposed by the West for its failure on the economic front, the Zanu-PF government has found a new scapegoat - inflation - describing the scourge as enemy-enginee...Published: 26 Jul 2021 at 06:48hrs | | by Staff reporter
Zimbabwe firms fret over Mozambique crisis
ZIMBABWE'S industries have warned that a deadly insurgency roiling neighbouring Mozambique has emerged as the greatest threat to power and fuel imports that could further hurt Harare's fragile economy...Published: 23 Jul 2021 at 08:57hrs | 1 | by Staff reporter
Diaspora inflows top US$1 billion
Zimbabwe's Diaspora remittances jumped 58 percent last year, to about US$1 billion, a development that helped the country to cover gaps left by trade disruptions caused by the Covid19 pandemic. ...Published: 20 Jul 2021 at 08:11hrs | 1 | by Staff reporter
Lockdown internet demand boosts TelOne
STATE-OWNED telecoms operator TelOne last year realised inflation-adjusted revenue growth of 147% to ZW$4.7 billion compared to the corresponding period in 2019 due to an upsurge in the demand for bro...Published: 03 Jul 2021 at 21:31hrs | | by Staff reporter
500,000 Sinopharm doses expected
The latest order of 500 000 doses of Sinopharm vaccines is now expected to arrive on Saturday, taking total deliveries of bought and donated vaccines to 2,26 million doses with more commercial orders ...Published: 22 Jun 2021 at 16:57hrs | | by Staff reporter
Has the Zimbabwe dollar really stabilised against the US unit?
There is a strong debate among economic analysts pertaining to whether the Zimbabwean dollar (ZW$) has stabilised against the American dollar (US$) or not. There is a section which believes that the l...Published: 18 Jun 2021 at 13:00hrs | | by Respect Gwenzi
World Bank predicts 3,9% growth
ZIMBABWE'S economy will grow by 3,9% this year, underpinned by a good agricultural season and an inflationary slowdown, the World Bank (WB) predicted yesterday.However the global lender warned...Published: 11 Jun 2021 at 07:36hrs | 1 | by Staff reporter
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