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Mzembi claims Succession is not on Zanu-PF Agenda at Conference
Self-exiled former ZANU-PF Politburo member Walter Mzembi has stated that succession is not on the agenda for the ruling party, countering speculation surrounding President Emmerson Mnangagwa's future...Published: 23 Oct 2024 at 11:30hrs | 1038 | by Staff reporter
ZiG's false promise: Debunking the gold-backed myth
Some of us said it from day one, but we were accused of being 'prophets of doom'.When the Zimbabwe authorities declared war on illegal money changers, ostensibly, in order to 'defend' the stab...Published: 07 Oct 2024 at 16:36hrs | 1409 | by Tendai Ruben Mbofana
Mr. President, you'll never fix the economy when you behave like a witchdoctor!
When I was listening to President Emmerson Dambudzo Mnangagwa delivering his State of the Nation Address (SONA) yesterday, I hoped he would finally provide solutions to the country's economic crisis....Published: 03 Oct 2024 at 10:45hrs | 791 | by Tendai Ruben Mbofana
Exposing economic saboteurs threatening Zimbabwe's future
THE introduction of the Zimbabwe Gold Currency (ZiG) symbolised a shift toward economic sovereignty, self-reliance and stability. Yet, instead of celebrating this monumental effort, some individuals w...Published: 02 Oct 2024 at 07:49hrs | 248 | by Innocent Mujeri
An Open Letter to Finance Minister Mthuli Ncube
Dear Finance Minister Mthuli Ncube,As you navigate the complexities of Zimbabwe's economic landscape, a pressing matter deserves your urgent attention: the persistent depreciation of the Zimba...Published: 27 Sep 2024 at 22:51hrs | 841 | by Engineer Jacob Kudzayi Mutisi
'Western war hawks want Ukraine's resources'
Western countries want Kiev to achieve victory in the conflict with Russia, because it would give them the opportunity to "acquire and divide" Ukraine's wealth, Hungarian Prime Minister Viktor Orban h...Published: 10 Jun 2024 at 09:04hrs | 1 | by Staff reporter
Mthuli Ncube always wanted to be in politics
FINANCE and Economic Development Minister, Professor Mthuli Ncube, who is also the Zanu-PF parliamentary candidate for Cowdray Park constituency in Bulawayo says his participation in mainstream politi...Published: 08 Aug 2023 at 06:48hrs | 8 | by Staff reporter
Forex rate premium falls
THE parallel market exchange rate premium has fallen below 50 percent, as policy interventions by the Government continue to drive appreciation of the Zimbabwe dollar, but pockets of resistance remain...Published: 02 Jul 2023 at 07:37hrs | 7 | by Staff reporter
Banks scale back Zimbabwe dollar lending
BANKS have significantly reduced lending in the local currency ever since monetary authorities hiked interest rates last year to prevent rent-seeking behaviour by individuals and corporates, Reserve B...Published: 04 Jun 2023 at 08:29hrs | | by Staff reporter
Mthuli Ncube says currency manipulators won't rest
Currency manipulators and economic saboteurs will always be lurking about looking for opportunities and loopholes to unjustly profiteer but authorities will also be always ready to institute measures ...Published: 31 May 2023 at 06:58hrs | | by Staff reporter
NetOne threatens to blacklist dealers for overpricing
TELECOMMUNICATIONS operator, NetOne, has embarked on a drive to intensify its distribution channels countrywide in a bid to neutralize parallel market speculators and make its SIM card readily availab...Published: 29 May 2023 at 19:33hrs | 1 | by Staff reporter
Forex speculators to face disciplinary action
THE market should expect significant restoration of stability in the pricing of basic goods in response to comprehensive Government measures while disciplinary action will be swiftly meted against bus...Published: 23 May 2023 at 06:34hrs | 1 | by Staff reporter
Zimbabwe's monthly inflation goes negative
Monthly inflation went negative last month to -1,6 percent, meaning prices fell on average, according to ZimStat, the national statistics agency, using the new weighted consumer price index that takes...Published: 06 Mar 2023 at 05:14hrs | | by Staff reporter
Mnangagwa moves to calm Zimbabwe investors
PRESIDENT Emmerson Mnangagwa this week moved to calm market concerns over the obtaining business climate, as he gave fresh undertakings to iron out hurdles to investment under his "Zimbabwe is Open fo...Published: 26 Aug 2022 at 20:47hrs | | by Staff reporter
Interest rate hike haunts black market kingpins
Interventions by the Reserve Bank of Zimbabwe (RBZ) to stem prolonged currency battering have sent black market rates tumbling by over 50 percentage points within a month, Inter Horizon Securities (IH...Published: 16 Aug 2022 at 06:40hrs | 1 | by Staff reporter
Zimbabwe currency speculators cornered?
THE retreat of the recent inflation spiral is expected to accelerate, and purchasing power increase in light of recent pay rises without matching price rises, as speculative market forces are being co...Published: 15 Aug 2022 at 06:38hrs | | by Staff reporter
Zimbabwe's cash-rich govt suppliers fuel currency volatility
GOVERNMENT procurement and service providers - who include public works contractors and suppliers of goods and services - are destabilising the foreign exchange market by offloading part of their stag...Published: 10 Aug 2022 at 08:40hrs | 2 | by Staff reporter
Econet cuts physical airtime sales to 10%
ECONET Wireless Zimbabwe has reduced physical airtime sales to 10 percent in line with the Reserve Bank of Zimbabwe directive regarding the phasing out of physical airtime distribution by mobile netwo...Published: 08 Aug 2022 at 05:43hrs | | by Staff reporter
Mnangagwa laments banking sector rot
GOVERNMENT's recent adoption of tough economic measures is in response to mischievous behaviour by some economic players and syndicates who are bent on sabotaging the economic transformation achieved ...Published: 16 Jul 2022 at 10:29hrs | 7 | by Staff reporter
Will gold coins ease the pain?
A SENATOR and economic analysts have dismissed government's new gold coins as elitist and told Finance minister Mthuli Ncube to sort out the country's financial mess.This is after Reserve Bank...Published: 07 Jul 2022 at 08:06hrs | 8 | by Staff reporter
Interbank rate now sole legal rate, huge penalties for breaches
The interbank exchange rate has been set as the sole exchange rate to be used in commercial and other transactions and anyone selling goods and services, who uses any other rate faces a minimum civil ...Published: 29 Jun 2022 at 07:42hrs | | by Staff reporter
Zimbabwe central bank hikes interest rates to 200%
THE Reserve Bank of Zimbabwe (RBZ) on Monday hiked interest rates from 80% to 200% in a bid to block cheaper speculative borrowing which has adverse effects on exchange rates.The developments ...Published: 27 Jun 2022 at 19:08hrs | 7 | by Staff reporter
Zanu-PF supporters corner ministers, RBZ over failure
Zanu-PF supporters have strongly warned the party of impending electoral defeat in the 2023 general election and accused some of President Emmerson Mnangagwa's deployees in government, particularly Fi...Published: 21 Jun 2022 at 15:24hrs | 10 | by Staff reporter
Forex auction props up industry revival
The foreign exchange auctions have disbursed over US$3,2 billion to productive sectors since they opened in 2020, a development that resulted in the growth of local industry's capacity utilisation to ...Published: 17 Jun 2022 at 08:17hrs | | by Staff reporter
Grain middlemen and speculators fight GMAZ
Powerful grain traders and speculators who buy grain from state owned enterprises and resell it to millers at an exorbitant price are up in arms with the Grain Millers Association of Zimbabwe for cutt...Published: 04 Jun 2022 at 09:32hrs | 1 | by Mandla Ndlovu
Zanu-PF fissures widen
Zanu-PF has confirmed growing fissures within the party ahead of the December elective congress while warning those using money in their plot to challenge the party leader that they will be dealt with...Published: 03 Jun 2022 at 19:18hrs | 7 | by Staff reporter
'Mnangagwa must resign'
CITIZENS Coalition for Change (CCC) vice president Tendai Biti, has launched a scathing attack on President Emmerson Mnangagwa, saying he was an extremely incompetent leader with no capacity to run th...Published: 18 May 2022 at 06:24hrs | 6 | by Staff reporter
RBZ auction rate reaches $258
The auction rate, the weighted average of successful bids on the Reserve Bank of Zimbabwe foreign currency auction for productive businesses, fell from $173,2685 to the US dollar last week to $258,540...Published: 18 May 2022 at 06:18hrs | | by Staff reporter
Mnangagwa ban added fuel to a fire
The government's on-going crackdown against financial institutions to stem the collapse of the Zimbabwe dollar will only worsen the economic crisis facing the country instead of solving it.Pre...Published: 15 May 2022 at 06:13hrs | | by Staff reporter
Mnangagwa guns for economic hitmen
PRESIDENT Emmerson Mnangagwa's administration has launched a massive clampdown on some big corporates suspected of conniving with local banks to borrow billions of Zimbabwean dollars which they used t...Published: 13 May 2022 at 19:14hrs | | by Staff reporter
Govt cracks down on speculators
GOVERNMENT is clamping down on big corporates, which borrowed billions of Zimbabwe dollars and used the money for speculative activities while taking advantage of exchange rate movements to push up pr...Published: 13 May 2022 at 19:02hrs | | by Staff reporter
Bank lending freeze targets big corporates enjoying 'arbitrage profits'
HARARE - The Zimbabwe government is clamping down on big corporates which borrowed billions in Zimbabwean dollars and allegedly used the money for speculative activities.Authorities say the co...Published: 13 May 2022 at 14:50hrs | 4 | by Staff Reporter
Mnangagwa unleashes Financial Intelligence Unit on currency speculators
President Emmerson Mnangagwa has reportedly instructed securocrats to work closely with the Financial Intelligence Unit to root out currency saboteurs.Sources privy to the Monday security brie...Published: 26 Apr 2022 at 16:24hrs | 6 | by Nkosana Maphosa
Russia-Ukraine war disrupts Zimbabwe supply
ZIMBABWE may be far-away from the Russian-Ukraine war, but it is set to suffer the consequences of the bloody conflict within the next few days, as the southern African country largely relies on Russi...Published: 05 Mar 2022 at 17:12hrs | | by Staff reporter
'Dollarisation is not a panacea'
Returning to dollarisation is "not a panacea" to the challenges facing the economy, but Zimbabweans need to embrace broader use of the local currency and foster market discipline in order to consolida...Published: 08 Feb 2022 at 05:36hrs | | by Staff reporter
December monthly budget surges 6%
ZIMBABWE'S average Total Consumption Poverty Line (TCPL), monthly expenditure needs, for an individual surged 6 percent to $8 008 in December 2021, the Zimbabwe National Statistics Agency (Zimstat) sa...Published: 07 Jan 2022 at 05:52hrs | 8 | by Staff reporter
Mnangagwa takes rogue businesses issue to advisors
Pricing by businesses using black-market exchange rates yet getting foreign currency at the auctions run by the Reserve Bank of Zimbabwe is seeing prices rise unnecessarily and a danger of speculation...Published: 12 Dec 2021 at 20:00hrs | 6 | by Staff reporter
Monetary policy in a complex economy
MAINSTREAM neoclassical economics, which has been the dominant economic thinking for over a century, is no longer an adequate mental model to interpret and shape the socio-economics of a new reality....Published: 17 Nov 2021 at 05:36hrs | 7 | by Vince Musewe
Mthuli warns fuel dealers against rejecting Zimdollar
FINANCE minister Mthuli Ncube has warned fuel operators getting foreign currency through the Reserve Bank of Zimbabwe (RBZ) auction system that they risk losing their licenses if they continue rejecti...Published: 13 Nov 2021 at 05:53hrs | 5 | by Staff reporter
US$2bn allocated at forex auctions
More than US$2 billion was allotted to almost 6 000 entities at the Reserve Bank of Zimbabwe's weekly foreign currency auctions from when they opened near the end of June last year to the end of last ...Published: 16 Oct 2021 at 06:26hrs | | by Staff reporter
RBZ must keep tight lid on forex auction system
FOR a while the Reserve Bank of Zimbabwe (RBZ) has been "availing" United States dollars to businesses at a capped auction rate.This means RBZ funds are the cheapest as they are availabled at ...Published: 13 Oct 2021 at 06:12hrs | | by Ndebele
Govt to ban firms from forex auctions over 'rampant abuse'
ZIMBABWE has threatened to ban traders from the country's foreign-exchange auction platform for exploiting the gap between black-market and official currency prices.Authorities are dealing wit...Published: 06 Jun 2021 at 17:48hrs | | by Bloomberg
What Zimbabweans must know about Retail Forex Trading
The forex market is the largest financial market in the world surpassing even the global stock markets. The BIS triennial survey of 2019 states that the global forex market generates nearly 6.6 trilli...Published: 06 Mar 2021 at 05:21hrs | 3 | by Staff writer
RBZ to lower borrowing costs
Monetary authorities agree that there is need to lower the cost of borrowing in Zimbabwe in order to support high production in the economy, but are still studying key fundamentals to see if that will...Published: 24 Dec 2020 at 05:04hrs | 1 | by Staff reporter
Zimbabwe's inflationary figures beat expectations
Analysts say the reduction in year on year inflation from more than 700 percent to around 400 is testimony of the success of fiscal economic interventions.Zimbabwe's inflation figures were the...Published: 06 Nov 2020 at 20:08hrs | 1 | by Staff reporter
Zimbabwe's inflationary figures beat expectations
Analysts say the reduction in year on year inflation from more than 700 percent to around 400 is testimony of the success of fiscal economic interventions.Zimbabwe's inflation figures were the...Published: 06 Nov 2020 at 16:05hrs | 1 | by Staff Reporter
Govt engages civil servants over salaries
Virtual meetings and other avenues are being considered by the Government to speed up talks on civil servants salaries. Consultations with civil servants representatives on a possible date to ...Published: 28 Aug 2020 at 06:45hrs | | by Staff reporter
Uptake of solar products still low in Zimbabwe
Zimbabwe's ambitious drive to promote clean energy and eradicate energy poverty in the country through the power of sunshine is still facing numerous barriers. The country has developed strong...Published: 29 Aug 2019 at 07:25hrs | | by Staff reporter
Mnangagwa advisor lashes govt, Mthuli Ncube
One of President Emmerson Mnangagwa's most loyal backers, Eddie Cross, has attached the government-accusing it of "practising the worst kind of corruption" and struggling to keep the country afloat. ...Published: 09 Aug 2019 at 08:10hrs | | by Staff reporter
Mthuli Ncube riles industry
FINANCE minister Mthuli Ncube was yesterday taken to task by captains of industry for suspending the production of annualised inflation figures, saying the policy move can trigger rampant speculation....Published: 06 Aug 2019 at 13:00hrs | | by Staff reporter
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