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No joy in Mthuli Ncube's budget
CALLS by Zimbabwe's restive civil service for United States dollar salaries went unheeded by Finance minister Mthuli Ncube yesterday.Ncube doubled the national budget to $1,9 trillion as a res...Published: 29 Jul 2022 at 06:54hrs | 2983 | by Staff reporter
Zamco winds up operations
THE Zimbabwe Asset Management Company (Zamco) is winding up operations after it paid off, last year, the $1,2 billion it received from the Government to acquire Non-Performing Loans (NPLs).Zam...Published: 17 Jun 2022 at 08:14hrs | 39 | by Staff reporter
Zimbabweans told to brace for more price hikes
CONSUMERS should brace for more basic commodity price hikes as inflation continues to rise and the foreign currency exchange auction system falters, economists warned yesterday.Last week, fore...Published: 25 May 2022 at 06:36hrs | 511 | by Staff reporter
IMF raises red flag on murky Command Agric
THE International Monetary Fund (IMF) has expressed concern over the limited levels of transparency and accountability on the country's agriculture import substitution programme, widely known as Comma...Published: 16 Apr 2022 at 20:41hrs | 712 | 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 | 96 | 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 | 164 | 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 | 771 | by Staff reporter
Mnangagwa crony made US$90m in dodgy RBZ deal
Kudakwashe Tagwirei, close adviser to Zimbabwean President Emmerson Mnangagwa, used some of the profits to buy gold mines and a platinum mine, according to a report published on Thursday by The Sentry...Published: 19 Mar 2022 at 07:19hrs | 664 | 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 | 215 | by Staff reporter
Parly clarifies Command Agriculture figures
Parliament's Public Accounts Committee (PAC) has said the Government extended about $1,1 billion to private sector participants in the Command Agriculture Programme instead of the falsely touted US$3,...Published: 10 Mar 2022 at 05:52hrs | 82 | 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 | 1141 | by Staff reporter
Bank deposits jump 30%
Zimbabwe's banking sector registered a 29,79 percent growth in deposits to $476 billion in 2021, latest statistics from the Reserve Bank of Zimbabwe (RBZ) show.This comes as the sector has mai...Published: 11 Feb 2022 at 05:38hrs | 190 | by Staff reporter
Fight for Caps turns ugly
THE government's fight to control pharmaceutical giant Caps Holdings from its previous majority shareholder Frederick Mutanda has turned ugly amid claims that there have been threats to kill the busin...Published: 07 Feb 2022 at 05:15hrs | 1332 | by Tapiwa Gomo
Mthuli Ncube defends crumbling Zimdollar
FINANCE minister Mthuli Ncube has ruled out a return to dollarisation, as he maintained that huge pockets of the market required the free falling domestic unit.In an interview with Standardbus...Published: 06 Feb 2022 at 06:57hrs | 1225 | by Staff reporter
Mnangagwa signs 2022 budget laws
President Mnangagwa has assented to the two sets of law required to implement the 2022 National Budget presented by Finance and Economic Development Minister Professor Mthuli Ncube in November, so all...Published: 04 Jan 2022 at 05:55hrs | 292 | by Staff reporter
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 | 921 | by Victor Bhoroma
Munatsi, Dzanya wanted US$14m from BancABC
AT the time of his mysterious death, which relatives and friends believe was a cold blooded murder, Zimbabwe Investment and Development Agency boss Douglas Munatsi and his business partner Francis Dza...Published: 12 Dec 2021 at 20:18hrs | 1394 | by Staff reporter
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 | 16 | 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 | 6 | by Staff Rporter
Mutanda fights CAPS govt shareholding claim
WAR veteran and businessman Fredrick Charles Mutanda has approached the High Court seeking an order to set aside an arbitration ruling that government is the majority shareholder of pharmaceutical com...Published: 22 Nov 2021 at 06:11hrs | 11 | by Staff reporter
'RBZ assets can't be attached'
The Reserve Bank of Zimbabwe has breathed a sigh of relief after the High Court ruled that the central bank's assets cannot be attached in a lawsuit over more than US$26 million in unsettled debt with...Published: 25 Oct 2021 at 06:22hrs | | by Staff reporter
'Tagwirei gift to Guvamatanga a bribe'
Treasury secretary George Guvamatanga's acceptance of lavish gifts from corruption-accused business tycoon Kudakwashe Tagwirei is legally questionable, lawyers have said.Guvamatanga spared no ...Published: 10 Oct 2021 at 20:32hrs | 9 | by Staff reporter
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 | 1 | by Staff reporter
UK warns citizens against doing business in Zimbabwe
THE United Kingdom (UK) has warned its citizens against doing business in Zimbabwe as the southern African country ranks among high-risk countries to set up enterprises due to prohibitive and volatile...Published: 18 Aug 2021 at 15:43hrs | 12 | by Staff reporter
Zimbabwe makes token payments to clear foreign debt
ZIMBABWE has started making token payments to service the country's foreign debt with the Treasury channelling about US$17 million in the first quarter of 2021 towards clearing the arrears owed to dif...Published: 30 Jul 2021 at 07:26hrs | 5 | by Staff reporter
Whites more corrupt than us, says Mliswa
OUTSPOKEN Independent Norton legislator Themba Mliswa says white owned companies in Zimbabwe are looting the country's natural resources much more than those owned by indigenous people.In a se...Published: 28 Jul 2021 at 07:45hrs | | by Staff reporter
Fact-checking Biti's corruption speech
Opposition MDC Alliance vice president and former finance minister Tendai Biti gave an online speech on corruption in Zimbabwe on July 18, 2021.Here, we check key claims from Biti's address:...Published: 26 Jul 2021 at 19:35hrs | 1 | by Staff reporter
UK slaps sanctions on Kudakwashe Tagwirei and companies
The United Kingdom on Thursday announced it had imposed an asset freeze and travel ban on Sakunda boss and President Emmerson Mnangagwas adviser, Kudakwashe Tagwirei.The sanctions will also ap...Published: 22 Jul 2021 at 16:11hrs | 2 | by Staff reporter
Air Zimbabwe says administrators rescued the insolvent airline
AIR Zimbabwe administrators Grant Thornton, whose term of office came to an end last week when government appointed a six-member board, saved the airline from litigious creditors and set the troubled ...Published: 17 Jul 2021 at 15:26hrs | 38 | by Staff reporter
Air Zimbabwe debt assumption promotes corruption
ZIMBABWEAN taxpayers continue to be burdened by debt from parastatals which are riddled with mismanagement and corruption, with the latest being the assumption of Air Zimbabwe's huge debt, as governme...Published: 19 Jun 2021 at 15:04hrs | 16 | by Staff reporter
Zimbabwe financial sector heads for crisis
THE financial services sector is headed for a major crisis, with bankers now saying they are struggling to manage their balance sheets following the Reserve Bank of Zimbabwe (RBZ)'s decision to compel...Published: 18 Jun 2021 at 12:58hrs | | by Staff reporter
Govt to raise $30bn through Treasury Bills, bonds
Zimbabwe plans to raise $30 billion through the issuance of Treasury Bills and bonds to finance its 2021 budget deficit, the Government debt plan show. Treasury bonds and Treasury Bills are all ...Published: 17 Jun 2021 at 06:08hrs | 2 | by Staff reporter
Security agents stalk war veteran
THE fight for control of Caps Holdings Limited (CHL) has turned nasty, with war veteran and businessman Frederick Mutanda alleging that State security agents were involved in a plot to assassinate him...Published: 11 Jun 2021 at 07:30hrs | 1 | 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 | 7 | 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 | 7 | by Staff reporter
Zimbabwe govt treasury surplus exceeds $6bn
Public finances have been in perfect health for a good period now, amid revelations that Treasury has maintained surpluses in excess of $6 billion on its accounts at the Reserve Bank of Zimbabwe (RBZ)...Published: 28 Feb 2021 at 10:30hrs | | by Staff reporter
Pfumvudza, bond notes: Mnangagwa's saviour
THE gigantic lake TugwiMukosi is spilling. This is a rare phenomenon for a water body so big to spill less than four years after commissioning.It holds a promise that is too big to hide or ign...Published: 20 Feb 2021 at 08:55hrs | 1 | by Paidamoyo Muzulu
Mnangagwa, Chiwenga-linked cartels take over public firms, mines, fuel sector - report
HIGHLY secretive cartels linked to President Emmerson Mnangagwa and Vice President Constantino Chiwenga are reported to have taken over the operations of key state-owned companies, including private f...Published: 10 Feb 2021 at 07:33hrs | 15 | 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 | 1 | 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
Zimbabwe slides deeper into debt distress
ZIMBABWE'S total external debt rocketed by US$106 million to US$8,2 billion at the end of September, throwing the economy into further debt distress, according to Finance minister Mthuli Ncube....Published: 27 Nov 2020 at 07:05hrs | | 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 | 15 | 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 | | by Staff reporter
Slow pace of reforms derailed TSP
The Zimbabwean government recently announced the conclusion of the 2 year Transitional Stabilization Programme (TSP) which will be replaced by the first five year National Development Plan (NDP). TSP ...Published: 11 Oct 2020 at 10:00hrs | | by Victor Bhoroma
Farms deal 'complicates' Zimbabwe crisis
A LANDMARK deal recently inked between white former commercial farmers and the government of Zimbabwe will make it difficult for the country to repay debts, negotiate fresh lines of credit and ask for...Published: 11 Oct 2020 at 08:13hrs | 13 | by Staff Reporter
Slow pace of reforms derailed TSP
The Zimbabwean government recently announced the conclusion of the 2 year Transitional Stabilization Programme (TSP) which will be replaced by the first five year National Development Plan (NDP). TSP ...Published: 10 Oct 2020 at 12:04hrs | 7 | by Victor Bhoroma
Tempers flare as RBZ debt spikes
GOVERNMENT was this week caught in the eye of a storm after the Reserve Bank of Zimbabwe (RBZ) said it had accumulated US$2,23 billion in fresh debt between July 2019 and July 2020.Authorities...Published: 09 Oct 2020 at 10:20hrs | | by Staff reporter
Why RBZ needs autonomy
Former reserve Bank of Zimbabwe (RBZ) governor Gideon Gono recently appeared on Zimbabwean entrepreneur and newspaper publisher Trevor Ncube's discussion series In Conversation with Trevor.Amo...Published: 13 Sep 2020 at 07:15hrs | 34 | by Admire Dube
Zimdollar, prices of basic goods remain stable
THERE is a glimmer of hope among long-suffering Zimbabweans that the stabilising cost of basic consumer goods in the country will soon lead to more prices coming down on the back of the continuing goo...Published: 07 Sep 2020 at 17:06hrs | 6 | by Staff reporter
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