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Modi invited to India gold summit
THE Deputy Minister of Industry and Commerce, Raj Modi, has been invited by the Gem and Jewellery Export Promotion Council of India (GJPEC) to participate in the second edition of the India Gold and J...Published: 4 hrs ago | 327 | by Staff reporter
Money changers desert Bulawayo streets
ILLEGAL money changers in Bulawayo have devised new tricks to evade arrest following President Emmerson Mnangagwa's promulgation of new regulations that may see offenders being jailed for up to 10 yea...Published: 5 hrs ago | 1101 | by Staff reporter
A timeline of how Zimbabwe lost its currency
Today, November 14, marks the 21st anniversary of "Black Friday", the day the Zimbabwe dollar crashed in 1997.We track the Zimdollar's collapse from that fateful November day, and the many des...Published: 19 hrs ago | 2144 | by newZwire with The Source
Zimbabweans to explain deposits of more than $10,000
President Emmerson Mnangagwa has promulgated Statutory Instrument 246 of 2018, Presidential Powers (Temporary Measures) Amendment of Money Laundering & Proceeds of Crime Act & Exchange Control...Published: 21 hrs ago | 10614 | by Ndou Paul
Zinara bosses off the hook
THE National Prosecuting Authority (NPA)'s bid to revive corruption charges against five Zimbabwe National Roads Administration (Zinara) bosses yesterday hit a snag after the Supreme Court threw out t...Published: 14 Nov 2018 at 05:37hrs | 517 | by Staff reporter
WATCH: Mnangagwa approves 11 projects worth $5.3 billion
The Chief Secretary to the President and Cabinet circulated for the information of Cabinet a list of eleven projects which have been approved by His Excellency the President for immediate impleme...Published: 13 Nov 2018 at 16:21hrs | 3715 | by Staff reporter
Money is the root of all evil
We all use money every day and yet few of us really understand what these bits of paper or cotton or simply figures in a ledger really mean. But we know the stuff is important.In economic term...Published: 12 Nov 2018 at 05:38hrs | 989 | by Eddie Cross
New law on illegal currency trading welcome
WE welcome President Emmerson Mnangagwa's decision to use temporary powers for a new law that will see illegal currency traders being sentenced to up to 10 years in jail, while ill-gotten wealth will ...Published: 12 Nov 2018 at 05:23hrs | 2312 | by Staff reporter
Zimta, PTUZ in ugly fallout
The Zimbabwe Teachers Association (Zimta) and Progressive Teachers Union of Zimbabwe (PTUZ) are engaged in a war of words emanating from whether or not to engage in collective bargaining with their em...Published: 11 Nov 2018 at 16:29hrs | 1435 | by Staff reporter
'Bond notes have been a success'
RESERVE Bank of Zimbabwe governor John Mangudya had a torrid time at the pre-budget seminar for legislators in Bulawayo last week when he was grilled over currency problems bedevilling the country....Published: 11 Nov 2018 at 12:26hrs | 2019 | by Staff reporter
All eyes on Mthuli Ncube
FINANCE and Economic Development minister Mthuli Ncube's maiden national budget should target the revival of the productive sectors of the economy to set the tone for revival, business has advised....Published: 11 Nov 2018 at 12:24hrs | 1236 | by Staff reporter
Mnangagwa fight against corruption is real
This week saw an unprecedented number of high-profile individuals appearing before our courts of law in connection with corruption, giving momentum to Government's fight against graft. Given t...Published: 10 Nov 2018 at 10:34hrs | 670 | by Nick Mangwana
Van Hoogstraten cleared of CFI insider trading
The Securities and Exchange Commission of Zimbabwe (SECZ) has cleared Nicholas van Hoogstraten's investment vehicle, Messina Investments (Private) Limited of insider trading involving shares in CFI ...Published: 09 Nov 2018 at 17:19hrs | 744 | by Staff reporter
Who's who in Zimbabwe’s cutthroat fuel sector
SIX major oil-importing entities, including the Indigenous Petroleum Association of Zimbabwe (Ipaz), Zuva Petroleum, Puma Energy, Total Zimbabwe, Petrotrade (Pvt) Ltd and Engen Petroleum Zimbawe, are...Published: 09 Nov 2018 at 18:06hrs | 5876 | by Staff reporter
Mangudya lost his cool under pressure from legislators
RESERVE Bank of Zimbabwe (RBZ) governor John Mangudya - who is usually calm and patient - yesterday lost his cool under pressure from legislators at a pre-budget seminar in Bulawayo who took him to ta...Published: 09 Nov 2018 at 16:41hrs | 5055 | by Staff reporter
Cottco boss arrested for fraud
COTTCO Acting Chief Executive Officer Pius Manamike and two COTTCO managers have appeared before Harare Magistrate Mrs Rumbidzai Mugwagwa facing charges of US$2 million fraud.The trio was gran...Published: 09 Nov 2018 at 15:40hrs | 634 | by Staff reporter
Mnangagwa coming after cartels
PRESIDENT Emmerson Mnangagwa yesterday vowed to clamp down on cartels involved in various corrupt activities such as fraud, money-laundering, insider trading and manipulation of government procurement...Published: 09 Nov 2018 at 05:16hrs | 6838 | by Staff reporter
4 Cottco bosses arrested
The Zimbabwe Anti-Corruption Commission has arrested four Cotton Company of Zimbabwe managers fingered in illegal cotton trading, prejudicing the country of millions of dollars.Managing direct...Published: 09 Nov 2018 at 05:12hrs | 1878 | by Staff reporter
Mnangagwa warns against abuse of funds
The Second Republic does not tolerate siphoning of public funds for personal gain and such criminal propensities will leave offenders in jail, President Mnangagwa said yesterday. Addressing de...Published: 09 Nov 2018 at 05:00hrs | 518 | by Staff reporter
2% money transfer tax simplified
Intermediated Money Transfer Tax is a tax collected in terms of Section 36G as read with the Thirtieth Schedule of the Income Tax Act [Chapter 23:06]. This tax has been in place since 2003 and an amen...Published: 08 Nov 2018 at 10:30hrs | 5032 | by Staff reporter
Zimbabwe must set a clear development agenda
First and foremost, Zim is poised with toxic politics. We must deal with our politics first before we table economic matters. , it is important to admit that we have a crisis so that whoever comes on ...Published: 07 Nov 2018 at 16:27hrs | 503 | by Tinashe Eric Muzamhindo
Jonathan Moyo's ex-deputy flees over $400,000 scam
THE High Court yesterday issued a warrant of arrest for former Higher and Tertiary Education deputy minister Godfrey Gandawa, who is facing allegations of swindling the Zimbabwe Manpower Development F...Published: 06 Nov 2018 at 05:35hrs | 1175 | by Staff reporter
ZSE suspends Hwange Colliery Company
THE Zimbabwe Stock Exchange (ZSE) Limited has suspended Hwange Colliery Company from trading on the bourse following its placement under administration.Last week, the Zimbabwean government - w...Published: 06 Nov 2018 at 05:34hrs | 90 | by Staff reporter
'Cassava Smartech initiative way to go'
Lands, Agriculture, Water, Climate and Rural Resettlement Ministry says it highly upholds technological innovations that seek to develop agriculture productivity. This follows advances made by...Published: 06 Nov 2018 at 05:25hrs | 74 | by Staff reporter
Kasukuwere and Chombo will not be convicted, this is why?
You often hear about politicians facing public corruption charges in the news. Public corruption refers to any time of instance in which a government official abuses their position of power or public ...Published: 05 Nov 2018 at 20:12hrs | 7692 | by Dr Masimba Mavaza
Lumumba to be probed by ZAAC?
More details have emerged of rabble-rousing influence peddler William Gerald Mutumanje's recent hatchet job on top Reserve Bank of Zimbabwe (RBZ) officials and businessman Kudakwashe Tagwirei - all of...Published: 05 Nov 2018 at 13:41hrs | 3361 | by Staff reporter
'Zimbabwe diamond output to shatter records'
THE Zimbabwe Consolidated Diamond Company is expected to smash production records as it guns for a three million carat haul this year, driven by US$100 million invested in operations over the last two...Published: 04 Nov 2018 at 08:41hrs | 512 | by Staff reporter
Adopt the Rand to stabilise the economy
The lifting of SI 122 made this writer to revisit a debate that made headlines in the post- election period in Zimbabwe. This was premised on whether Zimbabwe should join the Rand monetary community o...Published: 03 Nov 2018 at 13:06hrs | 6049 | by Brightface Mutema
Mnangagwa privately admits economic woes
PRESIDENT Emmerson Mnangagwa this week acknowledged to business leaders that the country's economy was in distress and in dire need of immediate rescue, amid rising inflationary pressures and currency...Published: 03 Nov 2018 at 12:59hrs | 3992 | by Staff reporter
Afreximbank pledges to continue assisting Zimbabwe
AFRICAN Export-Import Bank (Afreximbank) has pledged to continue assisting Zimbabwe meet its financial needs, saying all the loans extended to local entities by the bank have performed to expectation,...Published: 03 Nov 2018 at 12:54hrs | 1079 | by Staff reporter
Mnangagwa's prosecution unit moves in to tackle deep-rooted corruption
An investigation by the Special Presidential Prosecution Unit (SPPU) has unearthed a cartel of senior executives at Cottco together with a group of high profile politicians as being behind a spate of ...Published: 02 Nov 2018 at 15:10hrs | 3454 | by Staff reporter
Mnangagwa linked Zuva still has fuel service licence
Yesterday we reported that the government revoked service stations licence for Zuva Petroleum accusing the company o...Published: 31 Oct 2018 at 09:19hrs | 5297 | by Ndou Paul
Zuva Service Stations lose trading licence
The government today revoked service stations licence for Zuma Petroleum accusing the company of overcharging customers.In a Press Briefing to the Media after today's Cabinet meeting, Minister...Published: 30 Oct 2018 at 18:46hrs | 20264 | by Mandla Ndlovu
#IGForexChat 3: What does the next year hold for emerging market currencies?
IG presents 'IG Forex Chat 3' – a live di...Published: 30 Oct 2018 at 15:53hrs | 563 | by Tech Reporter
Mnangagwa cornered over deteriorating economy
PRESIDENT Emmerson Mnangagwa yesterday met captains of industry to tackle challenges in the economy, but the meeting failed to come up with solutions, according to people with knowledge of the meeting...Published: 30 Oct 2018 at 05:33hrs | 5651 | by Staff reporter
Reduce military budget: Beitbridge residents
PARLIAMENT's Finance and Economic Development and Sustainable Development Goal Thematic Committee chairperson Matthew Nyashanu last week said a cross-section of Zimbabweans had recommended a massive c...Published: 29 Oct 2018 at 05:48hrs | 525 | by Staff reporter
Mnangagwa's net closing in on fuel dealers
The net is closing in on fuel dealers who stand accused of abusing their foreign currency allocation from the central bank amid revelations a syndicate of Zambian fuel smugglers was [on Wednesday] nab...Published: 28 Oct 2018 at 21:19hrs | 5395 | by Staff reporter
'Mnangagwa's government is primitive'
Mthwakazi activist Hloniphani Ncube has said Zanu-PF government is a primitive political organisation which has introduced failed policies leading to the suffering of the Zimbabwean masses.The...Published: 28 Oct 2018 at 14:10hrs | 2742 | by Stephen Jake
Hefty fines for price hikes
Retailers and manufacturers who increase prices of goods and services without justification will face heavy Government fines under a new consumer protection law that fosters fair business practices....Published: 28 Oct 2018 at 09:11hrs | 3485 | by Staff reporter
Inside the fierce war for control of Zimbabwe's fuel industry
A fierce war is brewing behind the scenes for control of Zimbabwe's fuel industry pitting President Emmerson Mnangagwa and Vice-President Constantino Chiwenga's allies following a bid by a South Afric...Published: 28 Oct 2018 at 08:13hrs | 4908 | by Staff reporter
Mnangagwa bangs door in Chamisa's face
President Emmerson Mnangagwa has spoken for the first time on opposition leader Nelson Chamisa's push for a transitional government, saying any form of a power-sharing arrangement was not on his agend...Published: 26 Oct 2018 at 22:27hrs | 11439 | by Staff reporter
'I heard people's cries' says ED - after 38 years, yet to hear cry for free elections
When President Mnangagwa finally took over the presidency, after 37 years of waiting in the wings, he was determined not to repeat the disastrous mistakes of his former boss the deposed dictator Rober...Published: 26 Oct 2018 at 16:50hrs | 8823 | by Nomusa Garikai
Mangudya says demonetised Zim dollar notes not for sale
The Reserve Bank of Zimbabwe (RBZ) says it has come to its attention that there are certain persons who are purportedly buying or selling, or trading in, demonetised Zimbabwe dollar notes in and outsi...Published: 26 Oct 2018 at 16:16hrs | 5823 | by Staff Reporter
Capital gains tax choking Zimbabwe investors
Underperformance of the Zimbabwe Stock Exchange and huge voids in the property sector has seen most insurance companies reducing their exposure to traditional assetsTHE 1% capital gains withho...Published: 26 Oct 2018 at 08:44hrs | 1060 | by Staff reporter
Mnangagwa's command policies spark off market turmoil
GOVERNMENT'S commandist strategy to contain currency volatility and the rising tide of price increases ravaging Zimbabwe are likely to worsen an economic crisis that has persisted for decades while da...Published: 26 Oct 2018 at 08:25hrs | 2656 | by Staff reporter
Fierce crackdown on parallel market drops forex rate
A fierce government crackdown on illegal forex dealers, increased electronic surveillance of bank accounts, deployment of state security agents and arrests of individuals suspected to be at the centre...Published: 26 Oct 2018 at 08:13hrs | 6146 | by Staff reporter
Import with your own forex, Mangudya says
Companies and individuals seeking to import basic commodities following the lifting of the import ban will have to use free funds, freeing the central bank from having to raise funds for the imports, ...Published: 26 Oct 2018 at 06:55hrs | 2141 | by Staff reporter
37 forex dealers convicted, money forfeited
AT least 37 illegal foreign currency dealers who were arrested in Harare under "Operation Dzosai mari" on separate occasions during the past few days have appeared at the Harare magistrates' court, wi...Published: 26 Oct 2018 at 06:46hrs | 1278 | by Staff reporter
Black market rates nosedive 1:1,5
PARALLEL market rates further plummeted to as low as US$1:RTGS/Bond1,5 this week from a peak of 1:6 in the last two weeks as Government forges ahead with implementing measures to stabilise the economy...Published: 26 Oct 2018 at 06:29hrs | 3294 | by Staff reporter
Lumumba to expose more dirt on RBZ rot
Acie Lumumba says his sacking from the ministry of Finance is a blessing in disguise as he will be able to open the Reserve Bank of Zimbabwe (RBZ) can of worms without fear.Finance minister Mt...Published: 25 Oct 2018 at 14:13hrs | 6561 | by Staff reporter
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