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Zimbabwe juggles US$1bn TBs to avert crisis
President Emmerson Mnangagwa's government is restructuring repayment terms for Treasury Bonds (TBs) as it grapples with escalating debt obligations and the looming threat of default. With nearly US$74...Published: 06 Dec 2024 at 18:06hrs | 294 | by Staff reporter
Mnangagwa's adviser says ZiG is 'doomed', warns RBZ Governor
Local economist and adviser to President Emmerson Mnangagwa, Eddie Cross, has issued a stark warning to Reserve Bank of Zimbabwe (RBZ) Governor John Mushayavanhu, cautioning that the country's new Zim...Published: 15 Oct 2024 at 18:10hrs | 5665 | by Staff reporter
Zimbabwe white farmers reject 'bad deal'
Representatives of white commercial farmers whose land was expropriated by the Zimbabwean government have rejected Treasury Bills (TBs) proposed as compensation. This comes after the government's land...Published: 03 Aug 2024 at 12:56hrs | 1304 | by Staff reporter
The Sentry report on Mutapa Fund is shallow and weak
I had the MISFORTUNE of going through a report prepared and distributed by The Sentry, possibly written by an excitable Nick Donovan. Long story short, the report is shallow and weak. Here is ...Published: 04 Jul 2024 at 16:37hrs | 14 | by MMatigary
Biti lays into Mnangagwa, Tagwirei
SENTRY and Open Secrets exposé has confirmed that Zimbabwe has become a mafia state, run and controlled by cartels and syndicates, Former Finance Minister Tendai Biti has said.In a publicised...Published: 08 Jul 2023 at 08:29hrs | 11 | by Staff reporter
Zimdollar rescue mission too late
THE surprise move by Zimbabwe's fiscal and monetary authorities to liberalise the foreign exchange policy after months of shillyshallying amid a fixed rate could be a case of closing the stable door a...Published: 12 Jun 2023 at 06:45hrs | 2 | by Staff reporter
Mnangagwa must not deliver another Lima
WHITE commercial farmers forced off their land over 20 years ago have waited since 2018 — when government agreed to a compensation deal — to receive their settlements. It is important to note that...Published: 26 May 2023 at 06:41hrs | | by Staff reporter
Ex-farmers reject Zimbabwe govt deal
Former farm owners have rejected Zimbabwe's compensation proposal of paying in government securities over a 10 –year period amid concerns about the age profile of the supposed beneficiaries....Published: 08 Apr 2023 at 12:42hrs | 5 | by Staff reporter
Analysis of the 2023 national budget
The Zimbabwean government presented a ZW$4.5 trillion budget (21% of 2021 GDP) for the 2023 fiscal year. The government expects to collect revenues totaling ZW$3.9 billion (18% of GDP), thus resulting...Published: 16 Dec 2022 at 00:15hrs | 11 | by Victor Bhoroma
Zimbabwe macroeconomic priorities for 2023
Zimbabwe's treasury department presented a ZW$4.5 trillion budget (21% of 2021 GDP) for the 2023 fiscal year. The budget roughly translates to US$5.3 billion if the market exchange rate is used. As is...Published: 15 Dec 2022 at 23:53hrs | | by Victor Bhoroma
Debt financing to fund 2023 budget
Finance minister Mthuli Ncube says debt financing will be used to fund the $4,5 trillion 2023 national budget, raising concerns about money supply growth.Treasury expects $3,9 trillion in reve...Published: 04 Dec 2022 at 08:11hrs | | by Staff reporter
Zimbabwe govt rejigs US$3.5bn compensation to farmers
ZIMBABWE'S cash-strapped Treasury has proposed a staggered payout plan to settle the US$3.5 billion compensation to white ex-commercial farmers who lost vast tracts of land when the government embarke...Published: 29 Nov 2022 at 18:00hrs | | by Staff reporter
Mnangagwa's govt turns to Treasury bills, bonds
THE cash-strapped government is likely to print money to finance its $575,5 billion budget deficit, economic analysts warned yesterday after Finance minister Mthuli Ncube announced next year's $4,5 tr...Published: 25 Nov 2022 at 05:12hrs | | by Staff reporter
World Bank commends Mthuli Ncube's bold economic reforms
GLOBAL financier, the World Bank (WB) has heaped praise on Zimbabwe for continuously implementing bold economic reforms more recently saying the initiatives had positioned the economy for a sound perf...Published: 16 Oct 2022 at 19:23hrs | | by Staff reporter
Roads closed for Mbudzi Intercharge
MULTIPLE stretches of vital roads constituting a combined 4,5km will be shut down this Sunday, to allow for the construction of the US$88 million Mbudzi Interchange in Harare, officials said yesterday...Published: 14 Sep 2022 at 05:50hrs | | by Staff reporter
RBZ mops up ZW$31,6 billion in four months
THE Reserve Bank of Zimbabwe (RBZ) managed to mop up excess liquidity amounting to ZW$31,6 billion in the last four months of 2021 as the monetary authority upped the gear towards preserving the local...Published: 24 May 2022 at 07:26hrs | | by Staff reporter
Govt courts banks for $2,1bn bailout
ZIMBABWE'S cash-strapped government has turned to banks for a $2,1 billion bailout to bankroll public expenditure programmes and bolster its weak cashflows.Under the programme, government will...Published: 24 Mar 2022 at 05:22hrs | 1 | by Staff reporter
RBZ issues ZW$2,1bn Treasury Bill
THE Reserve Bank of Zimbabwe (RBZ) yesterday issued a ZW$2,1 billion Treasury Bill seeking to raise funding from the market to support development programmes and public cashflow management.Tre...Published: 24 Mar 2022 at 05:20hrs | | by Staff reporter
Sakunda Holdings breaks silence on command agric TBs
OIL company Sakunda Holdings, which played the leading role in the implementation of the specialised maize production programme popularly known as command agriculture, has broken its silence over the ...Published: 20 Mar 2022 at 06:22hrs | | by Staff reporter
Zanu-PF MPs defend US$1.6bn Command Agric looting
Zanu-PF members of Parliament are defending the looting of US$1.6 billion under the Command Agriculture programme and are plotting to crucify vocal individuals, mainly from the opposition, they accuse...Published: 19 Mar 2022 at 07:22hrs | | by Staff reporter
Parly queries Chinamasa's role in TBs
FORMER finance and economic development minister Patrick Chinamasa approved a Treasury Bill (TB) worth over US$737, 9 million while his term had expired, a damning parliamentary report on the Command ...Published: 11 Mar 2022 at 18:13hrs | | by Staff reporter
US$1,6bn Command Agriculture bombshell
A DAMNING parliamentary report on Command Agriculture has exposed how former Finance minister Patrick Chinamasa (pictured) and the Reserve Bank of Zimbabwe superintended over a murky and illegal proce...Published: 05 Mar 2022 at 17:11hrs | | by Staff reporter
Sadc regional integration will benefit Zimbabwe
THE Southern African Development Community's (Sadc) regional indicative strategic development plan (RISDP) 2020–30 of October 2020 is a framework for the implementation of Sadc's regional integratio...Published: 12 Jan 2022 at 23:13hrs | | by Vince Musewe
2022 Post Budget Analysis
The Zimbabwean government presented a ZW$927.3 billion budget (18% of GDP) for the 2022 fiscal year. The government expects to collect revenues totaling ZW$850.7 billion (17% of GDP), thus resulting i...Published: 13 Dec 2021 at 09:11hrs | 6 | by Victor Bhoroma
Zimbabwe to borrow $147 billion in 2022
Finance and Economic Development Minister, Professor Mthuli Ncube, says the Treasury will borrow $146,8 billion using Treasury Bills (TBs) and Treasury Bonds in 2022 to finance key Government projects...Published: 01 Dec 2021 at 05:34hrs | 8 | by Staff reporter
Mnangagwa govt to borrow US$1,4bn
GOVERNMENT has announced a plan to borrow ZW$146,8 billion (about US$1,4 billion) in 2022 to fund various infrastructure development projects.This debt would add to the existing stock of US$13...Published: 26 Nov 2021 at 19:42hrs | 10 | by Staff Rporter
Zamco clears US$14,3m in bad debts
OVER 70% of the total loans taken over by the Zimbabwe Asset Management Company (Zamco) have been fully expunged, with the vehicle now seized with processes to wind up its operations ahead of its suns...Published: 27 Aug 2021 at 06:38hrs | | by Staff reporter
RBZ raises $380m in TBs
The Reserve Bank of Zimbabwe (RBZ) last week raised $380 million through Treasury Bills (TBs) after it issued a one-year paper that had targeted to raise $400 million.TBs are short-term financ...Published: 03 Jun 2021 at 06:56hrs | 9 | by Staff reporter
Zimra beats revenue target
Government surpassed its revenue collections' target for the fourth quarter to December 2020 with five out of the 11 revenue heads performing above their quarterly targets while six heads performed be...Published: 07 Apr 2021 at 06:46hrs | | by Staff reporter
RBZ issues $400 million Treasury Bills
THE Reserve Bank of Zimbabwe (RBZ) is seeking to raise $400 million through the issuance of 270-day Treasury Bills to fund Government programmes and cashflow management. The Central Bank float...Published: 10 Mar 2021 at 05:50hrs | | by Staff reporter
Spooks investigate US$45m CAPS deal
ZIMBABWE's state security service, the Central Intelligence Organisation (CIO), is investigating a volatile commercial dispute that has erupted between the government and interim trustees of Caps Phar...Published: 19 Dec 2020 at 16:38hrs | 2 | by Staff reporter
Mthuli Ncube lines up TBs to fund deficit
GOVERNMENT is set to float Treasury Bills (TBs) to finance the 2021 budget deficit, Finance minister Mthuli Ncube said last week.Last week on Thursday, the minister unveiled a ZW$421,6 billion...Published: 04 Dec 2020 at 07:18hrs | | by Staff reporter
Treasury records $5.39 billion deficit in July
Government incurred a deficit of $549.95 million in the seven months to July, missing a targeted surplus of $2.02 billion after higher expenses mainly due to the payment of Covid-19 risk allowances to...Published: 11 Nov 2020 at 14:03hrs | | by Staff reporter
Partial dollarization to induce economic stability
The Zimbabwean economy has vaulted back to the multi-currency regime that prevailed between 2009 and 2018 with the US Dollar transactions gradually growing in the formal market while dominating trade ...Published: 03 Nov 2020 at 14:25hrs | 1 | by Victor Bhoroma
Zimbabwe industry demands complete reforms
ZIMBABWE'S industry has proposed a raft of far-reaching reforms to be incorporated in Finance minister Mthuli Ncube's 2021 national budget, including the abolishment of subsidies.In its propos...Published: 15 Oct 2020 at 06:42hrs | 1 | by Staff reporter
Mthuli Ncube cuts wage bill to below 50%
THE Government has managed to bring down the proportion of the public wage bill in the national budget from 92 percent in 2017 to below 50 percent, resulting in fiscal surpluses that have been investe...Published: 28 Aug 2020 at 06:46hrs | | by Staff reporter
Zimdollar rates tumble ahead of monetary policy
THE Reserve Bank of Zimbabwe (RBZ) is expected to announce the Mid-Term Monitory Policy statement in the coming days.The market is not anticipating major changes to the country's economic fort...Published: 06 Sep 2019 at 07:40hrs | | by Victor Bhoroma
Reviewing Zimbabwe's austerity reforms
Zimbabwe launched its austerity measures under the Transitional Stabilization Programme (TSP) in October 2018. The stabilization programme itself is running from October 2018 to December 2020. Austeri...Published: 02 Sep 2019 at 09:37hrs | | by Victor Bhoroma
ZB fears inflation-induced balance sheet contraction
LISTED financial services group, ZB Financial Holdings, has raised fears over balance sheet contraction on the back of rising inflationary pressures. Although the group's total income increase...Published: 28 Aug 2019 at 07:29hrs | | by Staff reporter
Mangudya's Treasury Bills get massive investor thumbs up
THE Reserve Bank of Zimbabwe (RBZ) said on Friday it received offers amounting to double the ZWL$60 million it sought to raise through treasury bills (TBs) it put to tender last week. The cent...Published: 26 Aug 2019 at 06:56hrs | | by Staff reporter
Govt floats $60m Treasury Bills
GOVERNMENT has floated Treasury Bills (TBs) valued at ZWL$60 million, the second auction in a month geared towards financing various programmes.In a communique yesterday, the Reserve Bank of Z...Published: 20 Aug 2019 at 08:00hrs | 7 | by Staff Reporter
To publish or not to?
It’s common cause that if you choose not to tell your own story, someone will do it for you and sell to the whole world that which he wants it to believe about you, which leaves you at high risk of ...Published: 11 Aug 2019 at 07:25hrs | | by Persistence Gwanyanya
Mthuli Ncube to act on liquidity crunch
The country is reeling under a massive liquidity crunch and Government is now looking at appropriate ways of re-injecting liquidity into the productive sector, according to Secretary for the Ministry ...Published: 09 Aug 2019 at 08:05hrs | | by Staff reporter
Nssa forensic audit report: Who is who
In today's second analysis of the National Social Security Authority (Nssa) forensic report on the key individuals implicated in the State pension fund prejudice of US$175,25 million, NewsDay Business...Published: 09 Aug 2019 at 07:27hrs | | by Staff reporter
NSSA forensic audit report: Who is who?
Adam Molai, Environment, Tourism and Hospitality Industry minister Priscah Mupfumira, Robin Vela and Ozias Bvute are the individuals heavily implicated in the National Social Security Authority (NSSA)...Published: 08 Aug 2019 at 07:51hrs | 1 | by Staff reporter
Biti tears into Mthuli Ncube's 'lipstick and mascara'
HARARE East MP Tendai Biti yesterday tore into Finance minister Mthuli Ncube's 2019 supplementary budget, describing it as a big fraud and misrepresentation of the true state of the economy.He...Published: 07 Aug 2019 at 17:03hrs | | by Staff reporter
Jonathan Moyo 'exposes' Mthuli Ncube and Sibusiso Moyo?
Professor Jonathan Moyo says President Emmerson Mnangagwa and Professor Mthuli Ncube working with general Sibusiso Moyo and businessman Kuda Tagwirei are involved in a grand theft of public funds. ...Published: 06 Aug 2019 at 12:02hrs | | by Mandla Ndlovu
Judge orders Metbank to pay back $20m to NSSA
Metbank has been ordered to pay back $20 million worth of Treasury Bills to the National Social Security Authority (NSSA), after a judge said the bank's court bid to keep the TBs had come "tumbling do...Published: 05 Aug 2019 at 22:11hrs | 1 | by newZWire
Mthuli Ncube's T-Bill auction oversubscribed
ZIMBABWE'S central bank said on Friday its first Treasury Bill auction in seven years, aimed at raising $3,25 million, was oversubscribed more than four times as the government started open market bor...Published: 05 Aug 2019 at 07:44hrs | | by Reuters
Sparks fly over NSSA scandal
Former National Social Security Authority (NSSA) board chairman Robin Vela says he will challenge the damning forensic audit report in court claiming that it was part of a witch-hunt.The repor...Published: 04 Aug 2019 at 10:24hrs | | by Staff reporter
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