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'Abandon the Zimdollar'
PRESSURE is mounting on Finance minister Mthuli Ncube to dollarise the economy after members of the public told Parliamentarians that it was the only way to tackle price and exchange rate instability ...Published: 21 hrs ago | 451 | by Staff reporter
RBZ bans bulk airtime sales
RESERVE Bank of Zimbabwe has banned on bulk airtime sales, ordering telecommunications service providers to stagger reduction of physical airtime sales to 10% in a bid to contain illicit foreign curre...Published: 21 hrs ago | 486 | by Staff reporter
Of sanctions and misgovernance
Am writing this piece after 1 year since I wrote on sanctions and with this small piece I think I will manage to clarify the position on sanctions, however, democracy dictates that one is free to agre...Published: 25 Oct 2021 at 20:48hrs | 462 | by Kumbirai Stein Chivhuna
Mthuli Ncube told to dollarise
PRESSURE is mounting on Finance minister Mthuli Ncube to dollarise the economy after members of the public told Parliamentarians that it was the only way to tackle price and exchange rate instability ...Published: 25 Oct 2021 at 06:25hrs | 2820 | by Staff reporter
Zanu-PF tense as factional intrigue overshadows upcoming conference
PRESIDENT Emmerson Mnangagwa will preside over a potentially heated Zanu-PF conference in Bindura next week amid bruising infighting in the Midlands and Masvingo, with the party leader expected to cra...Published: 23 Oct 2021 at 23:53hrs | 846 | by Staff reporter
Shops continue using 'illegal' rates
WARNINGS by the Reserve Bank of Zimbabwe's (RBZ) Financial Intelligence Unit and the recent arrest of directors of some top companies over foreign currency manipulation seem to have fallen on deaf ear...Published: 21 Oct 2021 at 06:17hrs | 552 | by Staff reporter
Sanctions devastate rural communities
RURAL communities are among the worst areas affected by illegal sanctions as the embargo has led to limited opportunities for communities increasing poverty levels.Studies have shown that the ...Published: 20 Oct 2021 at 07:35hrs | 143 | by Staff reporter
'Offshore centre plans on track'
FINANCE minister Mthuli Ncube says Zimbabwe has made significant strides in its quest to set up an offshore financial services centre in Victoria Falls.He said a planned commodities exchange w...Published: 19 Oct 2021 at 06:28hrs | 132 | by Staff writer
Illegal sanctions choking business
ILLEGAL economic sanctions imposed by the United States and her allies have negatively affected the business community, which cannot access loans, and even do straightforward transfers for their needs...Published: 18 Oct 2021 at 06:26hrs | 79 | by Staff reporter
Mthuli Ncube sees potential for 'diaspora remittances' via Blockchain
ZIMBABWE'S central bank frowns at digital currency and previously ordered all banks to stop processing transactions involving digital currencies, such as BTC and other altcoins in 2017.They te...Published: 17 Oct 2021 at 09:11hrs | 1229 | by Agencies
Zimbabwean bankers sweat over forex crackdown
Zimbabwean bankers are fretting over compliance with government directives to root out "illegal foreign currency dealings, with the country's biggest bank, CBZ, cautioning its employees against facili...Published: 17 Oct 2021 at 09:05hrs | 1012 | by Staff reporter
+200 arrested for not wearing face masks
POLICE in Bulawayo have arrested more than 200 people in the past two weeks for flouting Covid-19 prevention and control measures among them failure to wear masks properly.Bulawayo provincial ...Published: 17 Oct 2021 at 09:02hrs | 114 | by Staff reporter
Mureza to assemble Prim8 vehicle in Zimbabwe
MUREZA Automobile Company, a South Africa-based Zimbabwean auto mobile company, says it is now looking to localise production of its Mureza Prim8 vehicle that has been "successfully accepted" worldwid...Published: 17 Oct 2021 at 08:57hrs | 129 | by Staff reporter
Zimdollar plunges into death spiral
ZIMBABWE's currency is in a death spiral and headed for a tragic end, two years after it was re-introduced into circulation, stoking fears of the 2008 hyperinflationary era where the government was fo...Published: 15 Oct 2021 at 20:22hrs | 2957 | by Staff reporter
Govt, business stalemate rages
BUSINESS executives made desperate attempts from last week Friday to worm their way out of arrests for violating foreign currency exchange regulations, but the government turned a deaf ear as it vowed...Published: 15 Oct 2021 at 20:19hrs | 318 | by Staff reporter
BCC announces revised 200% budget increase
THE Bulawayo City Council yesterday announced a $23 billion 2022 budget, down from the initially proposed $24 billion budget, while rate increases have been revised downwards to 200% from 216%....Published: 15 Oct 2021 at 06:21hrs | 647 | by Staff reporter
Mthuli Ncube signals soft stance towards crypto-currencies
Zimbabwe is ready to soften its stance on crypto-currencies, judging by Finance and Economic Development Minister Professor Mthuli Ncube's remarks this week, that he intends to develop a framework and...Published: 15 Oct 2021 at 06:18hrs | 516 | by Staff reporter
Forex auction revitalises economy, claims RBZ
THE foreign currency auction introduced by Government last year has been critical in revitalising the economy despite deliberate inflation of black market exchange rates by some unscrupulous businesse...Published: 15 Oct 2021 at 06:18hrs | 118 | by Staff reporter
Residents resist BCC tariff hikes
BULAWAYO City Council (BCC) yesterday bowed to pressure from residents and slightly slashed its proposed 2022 budget by $900 million, with the tariff regime going down by 16 percent.During las...Published: 15 Oct 2021 at 06:17hrs | 521 | by Staff reporter
'Zimbabwe has enough forex to sustain economy'
THE foreign currency auction introduced by Government last year has been critical in revitalising the economy despite deliberate inflation of black market exchange rates by unscrupulous businesses and...Published: 15 Oct 2021 at 06:17hrs | 121 | by Staff reporter
RBZ directs banks to detect currency abusers
THE Reserve Bank of Zimbabwe (RBZ) has directed banks to configure their automated transaction systems in order to implement robust mechanisms that detect the abuse of debit cards in facilitating ille...Published: 14 Oct 2021 at 06:20hrs | 229 | by Staff reporter
14 community radio stations licensed
GOVERNMENT has made tremendous progress in opening up the airwaves with 14 community radio stations having been licensed so far.In her post-Cabinet briefing, Information, Publicity and Broadca...Published: 13 Oct 2021 at 06:07hrs | 119 | by Staff reporter
Company bosses in court over exchange rate
THE director of Consolidated Farming Investments, trading as Farm and City, Tanaka Hofisi, yesterday appeared at the Harare Magistrates Courts on allegations of selling products using an exchange rate...Published: 12 Oct 2021 at 06:02hrs | 3759 | by Staff reporter
Govt needs to stabilise bread and butter prices
THE looming increase in bread price will pile pressure on the country's citizens already battling a wildly inflationary environment aided by poor monetary policies by Treasury.To say that the ...Published: 12 Oct 2021 at 06:00hrs | 793 | by Eddie Cross
RBZ vows to tame forex black market
RESERVE Bank of Zimbabwe (RBZ) governor John Mangudya yesterday pledged to continue availing foreign currency through the foreign exchange auction system to ensure uninterrupted supply.Mangudy...Published: 12 Oct 2021 at 05:58hrs | 682 | by Staff reporter
Company bosses in court over exchange rate
THE director of Consolidated Farming Investments, trading as Farm and City, Tanaka Hofisi, yesterday appeared at the Harare Magistrates Courts on allegations of selling products using an exchange rate...Published: 12 Oct 2021 at 05:56hrs | 439 | by Staff reporter
RBZ, business reach consensus on exchange rates, pricing
A number of agreements were thrashed out yesterday between the Reserve Bank of Zimbabwe and leaders of the business sector to deal with what everyone agreed were unjustified jumps in black-market exch...Published: 12 Oct 2021 at 05:55hrs | 691 | by Staff reporter
ZimTrade predicts exports growth
TRADE development and promotion agency, ZimTrade, says Zimbabwe's exports will continue on the growth trajectory experienced throughout this year until December.The growth has been underpinned...Published: 10 Oct 2021 at 06:55hrs | 241 | by Staff reporter
Rautenbach enjoys Zanu-PF links
MULLER Conrad "Billy" Rautenbach is one of the most controversial business moguls in Zimbabwe, with several legal challenges against him and his company Green Fuel. Rautenbach, who is into vast mining...Published: 09 Oct 2021 at 07:35hrs | 1997 | by Staff reporter
Mnangagwa's leadership deficiency exposed by Zanu-PF's vicious factional fights
GROWING infighting in Zanu-PF, especially among President Emmerson Mnangagwa's allies in his political citadel, the Midlands, is testimony to weak leadership which has failed to stem the internal stri...Published: 09 Oct 2021 at 07:24hrs | 144 | by Staff reporter
Mnangagwa's govt fears currency crisis may trigger social uprising
PRESIDENT Emmerson Mnangagwa's government is intensifying its sweeping crackdown on foreign currency traders in the volatile market amid growing fears of an exchange rate-driven economic meltdown, The...Published: 09 Oct 2021 at 07:24hrs | 416 | by Staff reporter
Mnangagwa sticks to 7,8% growth, defies crisis
PRESIDENT Emmerson Mnangagwa yesterday stuck with the 7,8% growth projection announced by the Ministry of Finance in July, as he opened the fourth session of the ninth parliament, defying recent infla...Published: 08 Oct 2021 at 19:04hrs | 297 | by Staff reporter
Mthuli Ncube threatens companies
Finance minister Mthuli Ncube resorted to threats yesterday as he battled to bring sanity to the foreign currency market.Ncube said the government was planning impromptu audits and to suspend ...Published: 08 Oct 2021 at 19:04hrs | 985 | by Staff reporter
Zimdollar market correction
A MAJOR highlight of this week's auction is the magnitude of currency depreciation. The Zimbabwean dollar (Zimdollar) weakened by the highest weekly margin since the beginning of the year, a strong si...Published: 08 Oct 2021 at 19:03hrs | 295 | by Respect Gwenzi
Mnangagwa's State of the Nation address
PRESIDENT Mnangagwa delivered a State of the Nation Address and officially opened the Fourth Session of the Ninth Parliament of Zimbabwe yesterday. He tackled a wide r...Published: 08 Oct 2021 at 06:27hrs | 422 | by Staff reporter
Govt ups forex black market fight
GOVERNMENT is implementing a raft of additional measures to curb the illegal trading of forex and the benchmarking of prices using the parallel market rates, Finance and Economic Development Minister ...Published: 08 Oct 2021 at 06:26hrs | 303 | by Staff reporter
Noose tightened on Innscor and other retailers using black market rates
Retailers that continue to flout foreign currency regulations by setting prices in US dollars and then converting at the blackmarket rate will have their operating licences immediately suspended while...Published: 08 Oct 2021 at 06:26hrs | 412 | by Staff reporter
Currency manipulators on the prowl
CURRENCY manipulation by businesses setting their Zimbabwe dollar prices to black-market exchange rates, has reached levels where some shops are pricing their goods and services using illegal rates ra...Published: 08 Oct 2021 at 06:25hrs | 168 | by Staff reporter
Mnangagwa to officiate at disability expo
PRESIDENT Mnangagwa is expected to officiate at the 9th edition of the National Disability Expo in Gweru next week and running from Monday to Wednesday at Gweru Sports Club.During the expo, st...Published: 08 Oct 2021 at 06:23hrs | 51 | by Staff reporter
3 must-know benefits of decentralized finance (Defi)
The most intriguing use cases for blockchain have always been in financial services. From digital purchases and remittances to cryptocurrency storage and trading, blockchain has been challenging tradi...Published: 08 Oct 2021 at 06:21hrs | 62 | by Staff writer
Mthuli, Mangudya target Innscor over iIllegal forex rates
THE Reserve Bank of Zimbabwe (RBZ) and Finance Minister are investigating Innscor and other companies using illegal exchange rates of as high as US$1: $200.This follows a public outcry Wednesd...Published: 07 Oct 2021 at 18:25hrs | 1159 | by Staff reporter
Mbudzi traders to resist eviction
TRADERS yesterday described the Harare City Council's order for them to vacate Mbudzi roundabout within 48 hours as illegal and unconstitutional.On Tuesday, council ordered traders who conduct...Published: 07 Oct 2021 at 07:05hrs | 1212 | by Staff reporter
PPC projects jump in volumes
REGIONAL cement producer, PPC Limited, is forecasting its local unit - PPC Zimbabwe's volume performance for the half year to September 30, 2021 to be ahead of prior year level on the back of strong r...Published: 07 Oct 2021 at 07:02hrs | 312 | by Staff reporter
Forex blackmarket: More arrests loom
More people illegally dealing in foreign currency will soon be arrested and more financial institutions charged as Government cracks the whip against those driving and manipulating the black market de...Published: 07 Oct 2021 at 07:01hrs | 710 | by Staff reporter
Fuel prices increased again
THE Zimbabwe Energy Regulatory Authority (Zera) has increased the price of both diesel and petrol by between 1,45 percent and six percent in both local and foreign currency.The review, which i...Published: 06 Oct 2021 at 21:03hrs | 1824 | by Staff reporter
Forex abusers, money laundering kingpins not deterred by arrests
Foreign currency abusers and money laundering kingpins continue to defy the law despite recent arrests, a situation that has resulted in the eroding of incomes and unnecessary suffering.The ex...Published: 06 Oct 2021 at 05:46hrs | 928 | by Staff reporter
Illegal forex dealers launch bail appeals
LAWYERS representing companies and individuals accused of involvement in illicit foreign currency trading are launching bail appeals at the High Court.The illegal foreign currency deals saw ov...Published: 06 Oct 2021 at 05:45hrs | 233 | by Staff reporter
Illegal forex dealers denied bail
COMPANIES and individuals alleged to have been involved in illegal foreign currency deals that saw over $1,5 billion being transacted on the parallel market within six months, were yesterday denied ba...Published: 05 Oct 2021 at 06:29hrs | 182 | by Staff reporter
RBZ sets fortnight forex payments window
SIGNIFICANT headway is being made in clearing the backlog of foreign currency allotments and going forward all disbursements will be made within two weeks, the Reserve Bank of Zimbabwe (RBZ) has said....Published: 04 Oct 2021 at 05:52hrs | 1134 | by Staff reporter
Crack team set up for mobile money crime
A crack team of 15 experienced prosecutors has been set up to work with seasoned investigators to come up with watertight dockets and so effectively prosecute economic saboteurs abusing mobile money p...Published: 04 Oct 2021 at 05:47hrs | 393 | by Staff reporter
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