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The Ecocash heist - A modern tale of irresponsible corporate behaviour
Sometime in 2013, I applied and became an Ecocash Agent (Agent), and immediately set shop in at least two locations within Harare CBD. The setup and running costs for me as an Agent were high, but the...Published: 03 Jul 2020 at 19:27hrs | 3997 | by Tendayi Mudhadha
Covid-19 saves Zimbabwe millions
THE Covid-19 pandemic has achieved what the government has failed to accomplish for decades: drastically slash the amount of money spent on foreign travel.According to the latest consolidated ...Published: 03 Jul 2020 at 08:31hrs | 6373 | by Staff reporter
Mthuli Ncube misses revenue collection target
FINANCE Minister Mthuli Ncube missed April's revenue collection targets by 11 % owing to the impact Covid-19 lockdown had on businesses that were grounded to a halt as part of measures to minimise the...Published: 03 Jul 2020 at 08:09hrs | 984 | by newzimbabwe
'Mthuli Ncube's policies a security threat'
FINANCE Minister Mthuli Ncube was Thursday told in Senate the newly introduced foreign currency exchange auction trading system was a security threat as it had added burden to long suffering Zimbabwea...Published: 03 Jul 2020 at 07:55hrs | 981 | by newzimbabwe
Zimbabwe security chefs fingered in mobile money suspension
Zimbabwe's security force leaders sidelined the nation's economic chiefs and forced the government to close the stock exchange and halt most mobile-money transactions, people familiar with the situati...Published: 30 Jun 2020 at 22:44hrs | 5816 | by Staff reporter
Zimdollar tanks again
The forex auction conducted this Tuesday saw the Zimbabwe dollar depreciating to Z$63.74 to the US dollar from $57.36 last week.This is the second day of the foreign currency auction foll...Published: 30 Jun 2020 at 17:42hrs | 6173 | by Staff reporter
Key concerns on the Forex auction system
The Reserve bank of Zimbabwe (RBZ) is cautiously yielding to free market demands for the complete liberalization of the foreign exchange market and scrapping of various consumption subsidies that were...Published: 30 Jun 2020 at 08:15hrs | 4839 | by Victor Bhoroma
Plot to destabilise Zimbabwe economy exposed?
AS Government intensifies efforts to close channels that are fuelling the black market and other illicit financial activities, it has emerged that some foreign nations and individuals have been trying...Published: 30 Jun 2020 at 07:52hrs | 1981 | by Staff reporter
Zimbabwe's striking nurses declare total shutdown after govt snub
HEALTH workers in the country's public hospitals Monday declared a complete shutdown of the sector after government continued to pay a deaf ear to their plight.Zimbabwe nurses downed tools som...Published: 30 Jun 2020 at 07:50hrs | 1078 | by Staff reporter
ZSE trading suspended, awaiting guidance from ministry
Following the statement issued by the Secretary for Information, Publicity and Broadcasting Services on 26 June 2020, the Zimbabwe Stock Exchange has suspended trading until further notice, FinX repor...Published: 29 Jun 2020 at 08:38hrs | 2018 | by Staff reporter
Zimbabwe mobile operators called to further national interests
The Zimbabwean government has been commended for its firm stance in fighting illegal dealings connected with the foreign currency black market to restore mobile money platforms to their original purpo...Published: 28 Jun 2020 at 20:05hrs | 1178 | by Staff reporter
Chamisa has been hijacked, says Mashakada
Founding MDC member and Economic Planning former minister Tapiwa Mashakada recently left the MDC-Alliance led by Nelson Chamisa claiming the party had stopped being a workers' movement and that it had...Published: 28 Jun 2020 at 17:44hrs | 8901 | by Staff reporter
Mobile money transactions not to blame for economic woes
FORMER Finance minister Tendai Biti has called government's ban on trading on the Zimbabwe Stock Exchange (ZSE) and all mobile money transactions as "madness" with terrible consequences.The ba...Published: 28 Jun 2020 at 08:15hrs | 556 | by Staff reporter
Zimbabwe economy run by master criminals fleecing the poor
Ordinary Zimbabweans have suffered for years as a result of currency manipulation and corruption by the elites who have siphoned US dollars away into their overseas bank accounts. Now, a recent ruling...Published: 28 Jun 2020 at 08:11hrs | 1449 | by Thandekile Moyo
Money changers and the secret of their wisdom
THE foreign currency auction announced by the Reserve Bank of Zimbabwe recently appears to have started on a high note, but there is a nagging fear that those favourable comments by observers may have...Published: 28 Jun 2020 at 08:08hrs | 5663 | by Jonathan Maphenduka
MATTER OF FACT: Matopo local leadership blocks eviction of local miner
IN our edition of June 19 2020, we published a story headlined, Matopo local leadership blocks eviction of local miner, where Bulawayo businesswoman Siphiwe GatshaDube claimed that she was being force...Published: 28 Jun 2020 at 08:04hrs | 345 | by Editor
RBZ confirms mobile money ban but keeps platforms open for small transactions
THE Reserve Bank of Zimbabwe (RBZ) has suspended all money agents from mobile financial transactions but the general public can still continue to transact using the platforms.In a statement ye...Published: 28 Jun 2020 at 07:18hrs | 301 | by Staff reporter
Govt suspends EcoCash, 3 other platforms
GOVERNMENT has, with immediate effect, suspended all monetary transactions on mobile money platforms "to deal with malpractices, criminality and economic sabotage perpetuated by the wolves in sheep sk...Published: 27 Jun 2020 at 17:03hrs | 1092 | by Staff reporter
Zimbabwe's former Economic Minister slams government
Zimbabwe's former Minister of Economic Planning and Investment Promotion, Dr. Tapiwa Mashakada has slammed at the country's recent foreign currency auction.On Tuesday, the government launched ...Published: 27 Jun 2020 at 10:37hrs | 4654 | by Daniel Itai, Harare, Zimbabwe
Mobile money services banned
THE Government has suspended phone-based money transactions with immediate effect as investigations into allegations that they fuel black market transactions that have caused runaway inflation gather ...Published: 27 Jun 2020 at 08:08hrs | 727 | by Staff reporter
Zimbabwe suspends phone based mobile money transactions - Fulltext
The Statement of Suspension on Monetary Transaction on Phone-Based Mobile Money TransactionsThe government of Zimbabwe has with immediate effect suspended all mobile money services and trading...Published: 26 Jun 2020 at 19:41hrs | 7637 | by Staff reporter
Government threatens shops over bond notes
THE government has threatened to withdraw licences of shops rejecting $1 and $2 coins as well as $2 and $5 bond notes.Businesses started rejecting the lower denominations as soon as the Reserv...Published: 26 Jun 2020 at 18:13hrs | 819 | by Staff reporter
Zimbabwe fuel price hike raises ethanol eyebrows
ZIMBABWE'S fuel is the most expensive in the region following this week's price hike, amid grave concern over the cost component of locally-produced ethanol on the overall petrol price. Ethanol is sup...Published: 26 Jun 2020 at 07:55hrs | 2733 | by Staff reporter
'RBZ's forex auction system not panacea to Zimdollar volatility'
THE Confederation of Zimbabwe Industries (CZI) has cautioned that curtailing the increase in broad money supply, among a range of fiscal measures, would ensure the success of the foreign currency auct...Published: 26 Jun 2020 at 07:50hrs | 1952 | by Staff reporter
Shops ignore official exchange rate
RETAIL shops in Bulawayo yesterday continued trading using the parallel market exchange rate of US$1:$90, ignoring the new US$1:$57 rate announced by the central bank on Tuesday after the first day of...Published: 26 Jun 2020 at 07:33hrs | 1537 | by Staff reporter
How RBZ, govt sabotaged plans to restore Zimdollar
UNITED States $75 allowances and allowing retailers to trade in forex show a government shifting into reverse gear, possibly ditching two years' worth of policy steps to end dollarisation.The ...Published: 26 Jun 2020 at 07:26hrs | 6347 | by Staff reporter
Pessimism grips forex platform
Business wants more "transparency more than promises" on the foreign currency auction system for the platform to succeed as the parallel market continued unabated yesterday, a day after monetary autho...Published: 25 Jun 2020 at 16:36hrs | 2169 | by Staff reporter
Retail shops reject local currency
Reports from Habakkuk Trust Community Advocacy Action Teams in Matabeleland Province indicate that a significant number of shops are refusing to transact in local currency.The trust in a repor...Published: 25 Jun 2020 at 08:24hrs | 3972 | by Stephen Jakes
Bulawayo Zanu-PF youths complain over COVID-19 fund
ZANU-PF youth from Bulawayo have complained over the "turning of COVID-19 relief funds into loans" with stringent conditions to access the funding.The government recently set up a $17 million ...Published: 25 Jun 2020 at 07:04hrs | 285 | by Staff reporter
Why it's time for Africa to adopt a regional digital financial identity
According to the World Bank Group's Identification for Development, 1.1 billion people globally, including women, children and refugees, lack any form of officially recognised identification. This is ...Published: 24 Jun 2020 at 19:28hrs | 241 | by Nkosinathi Ncube
New US$ pricing sparks confusion
THERE was massive confusion yesterday as retail shops were meant to start charging their goods in both American dollars and the local currency, the Daily News reports.Instead of making life ea...Published: 24 Jun 2020 at 17:22hrs | 4037 | by Staff reporter
Zimdollar tumbles
THE Zimbabwe dollar shed nearly 79% of its value on the first day of being floated under a foreign currency auction system launched yesterday.At the close of the auction, the official exchange...Published: 24 Jun 2020 at 07:28hrs | 4360 | by Staff reporter
Forex exchange auction trading system off to a good start
The foreign exchange auction trading system has made a good start when it kicked-off in Harare today (June 23, 2020), without any great difficulty.On its first day, bids worth about US$11,4 mi...Published: 23 Jun 2020 at 19:33hrs | 3022 | by Nathan Gurira
CBZ dismisses gold buying license reports
CBZ Bank has dismissed as false reports that the financial institution has been awarded a gold-buying licence by the Government.Some sections of the media had claimed that CBZ was now buying g...Published: 23 Jun 2020 at 19:31hrs | 564 | by Staff reporter
Stanbic Bank in virtual Africa investors conference
In line with current world trends, Stanbic Bank Zimbabwe's parent company, Standard Bank Group has adopted a digital approach to enable African corporate clients and leading policymakers to connect vi...Published: 23 Jun 2020 at 19:28hrs | 97 | by Staff reporter
South African jobless rate swells to worst level in 10 years under Ramaphosa
South Africa's official unemployment rate has risen to 30.1%, the highest rate in the past decade.Statistics South Africa on Tuesday released its quarterly labour force survey for the first qu...Published: 23 Jun 2020 at 15:02hrs | 1779 | by Staff reporter
Africa celebrated a continent marred by criminality, slavery and human-organ theft
On the 25th of May the African time stood still: The rich continent was celebrating the 57 years of its existence: on this day, the AU acknowledges its successes and challenges. The continent has a hi...Published: 23 Jun 2020 at 13:23hrs | 534 | by Nomazulu Thata
Bredenkamp: A dark overlord taking Zimbabwe's darkest secrets to the grave
AN entry on the website of one of John Bredenkamp's companies tells us all we need to know about the controversial businessman: "In Africa, it is essential to work with change, not against it." Breden...Published: 23 Jun 2020 at 08:00hrs | 1638 | by Staff reporter
RBZ launches foreign exchange auction today
The Reserve Bank of Zimbabwe (RBZ)today replaces the interbank market with weekly foreign exchange auctions to determine the Zimbabwe dollar exchange rate with those in industry and commerce cautiousl...Published: 23 Jun 2020 at 07:47hrs | 1627 | by Staff reporter
Govt ropes in volunteer nurse as strike rage
The Zimbabwean Government that is under pressure to pacify striking nurses and doctors countrywide has launched a Volunteer Nurse program.According to health ministry spokesperson Donald Mujir...Published: 22 Jun 2020 at 08:15hrs | 1450 | by Naume Muza
UK investor completes acquisition of Zimbabwe's Lubu coalfields
A UNITED Kingdom-based investment group, Contango Holdings, has completed acquisition by way of reverse takeover of Consolidation Growth Holdings' interest in the Lubu coalfield project in Matabelelan...Published: 22 Jun 2020 at 07:58hrs | 510 | by Staff reporter
RBZ chief clarifies local currency
FARMERS, gold miners and other producers who have been crying foul over the 1:25 fixed interbank exchange rate have something to smile about as the Reserve Bank of Zimbabwe (RBZ) starts implementing t...Published: 21 Jun 2020 at 11:07hrs | 4471 | by Staff reporter
Goobye interbank rate!…RBZ chief speaks on auction system
FARMERS, gold miners and other producers who have been crying foul over the 1:25 fixed interbank exchange rate have something to smile about as the Reserve Bank of Zimbabwe (RBZ) starts implementing t...Published: 21 Jun 2020 at 08:15hrs | 4396 | by Staff Reporter
Zimbabweans must desist from negativity before it spreads like a disease
LAST week, Reserve Bank of Zimbabwe (RBZ) Governor, Dr John Mangudya, announced the introduction of a foreign exchange auction trading system with effect from June 23, 2020, which effectively means th...Published: 20 Jun 2020 at 21:05hrs | 1243 | by Toby Sithole
Zimbabweans must desist from negativity before it spreads like a disease
LAST week, Reserve Bank of Zimbabwe (RBZ) Governor, Dr John Mangudya, announced the introduction of a foreign exchange auction trading system with effect from June 23, 2020, which effectively means th...Published: 20 Jun 2020 at 20:32hrs | 288 | by Toby Sithole
Mthuli Ncube challenged to shape up or quit
THE pressure is mounting on under-fire Finance minister Mthuli Ncube, with Members of Parliament challenging him this week to fix the country's comatose economy or resign from his Cabinet post....Published: 20 Jun 2020 at 17:46hrs | 2976 | by Staff reporter
Displaced Bulawayo vendors approach High Court
MORE than 600 informal vendors in Bulawayo who were affected by the closure of the 5th Avenue market place in the city centre have approached the High Court challenging Bulawayo City Council's decisio...Published: 20 Jun 2020 at 08:13hrs | 285 | by Staff reporter
Zimbabwe's economic collapse govt's own doing
PRESIDENT Emmerson Mnangagwa's claims that the deepening economic crisis is the work of his political detractors and greedy businesspeople reflect the government's failure to take responsibility for i...Published: 19 Jun 2020 at 08:25hrs | 1603 | by Staff reporter
'Zimbabwe's US dollar allowance to stimulate economic activity'
GOVERNMENT'S move to pay civil servants a United States dollar allowance may stimulate economic activity in the shortterm, but will expedite re-dollarisation, economic analysts have said.Gover...Published: 19 Jun 2020 at 08:20hrs | 1667 | by Staff reporter
Zimbabwe forex auction system ill-advised: Analysts
GOVERNMENT'S re-introduction of the forex auction system as Zimbabwe effectively re-dollarises could have disastrous consequences because the country does not have adequate sources of foreign currency...Published: 19 Jun 2020 at 08:15hrs | 1303 | by Staff reporter
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