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Tshabangu's MPs question validity of Mutapa Investment Fund valuation
Opposition parliamentarians have raised concerns over the validity of the Mutapa Investment Fund's (MIF) asset valuation, pointing to discrepancies between the reported US$16 billion valuation and ear...Published: 22 Dec 2024 at 11:13hrs | 580 | by Staff reporter
Concerns mount over devolution fund shortfalls in Zimbabwe
The government's failure to meet the five percent constitutional threshold for devolution funding since 2019 has sparked widespread criticism. From its inception to 2023, the Inter-Governmental Funds ...Published: 17 Dec 2024 at 15:00hrs | 389 | by Staff reporter
ZBC urged to build national consciousness
The recapitalisation of the Zimbabwe Broadcasting Corporation (ZBC) is essential for the national broadcaster to fulfill its mandate of fostering national consciousness and promoting heritage-based br...Published: 15 Dec 2024 at 09:13hrs | 133 | by Staff reporter
Zimbabwe authorities step up crackdown on smuggled goods
The Zimbabwean government has ramped up efforts to combat smuggling and the influx of counterfeit goods as part of a broader strategy to protect domestic industries and enhance their competitiveness....Published: 15 Dec 2024 at 09:11hrs | 417 | by Staff reporter
Biti criticizes Zimbabwe's economic policies
Former finance minister Tendai Biti has strongly criticized the economic policies under the current administration, describing them as "fictitious" and blaming them for Zimbabwe's ongoing de-industria...Published: 14 Dec 2024 at 12:34hrs | 505 | by Staff reporter
MPs back Mthuli Ncube's sports betting tax proposal
Parliamentarians have approved Finance Minister Mthuli Ncube's proposal to introduce a 10% tax on gross winnings from sports betting, marking a significant step in the growing Zimbabwean sports bettin...Published: 14 Dec 2024 at 10:46hrs | 176 | by Staff reporter
Mthuli Ncube willing to review tax proposals
The Zimbabwean Treasury may revise certain tax measures outlined in the 2025 National Budget following concerns raised by business leaders, economists, and other stakeholders. Finance, Economic Develo...Published: 11 Dec 2024 at 06:30hrs | 441 | by Staff reporter
US, UK sanction Gold Mafia linked dealer
The United States and Britain imposed sanctions on several individuals and businesses linked to global gold smuggling and money laundering networks, with Zimbabwean businessman Kamlesh Pattni at the c...Published: 10 Dec 2024 at 07:08hrs | 946 | by Staff reporter
'Mutapa Fund will become Zimbabwe's economic bedrock'
Finance, Economic Development, and Investment Promotion Minister, Mthuli Ncube, has expressed strong confidence in the future of the Mutapa Investment Fund (MIF), highlighting its potential as a key d...Published: 09 Dec 2024 at 07:03hrs | 668 | by Staff reporter
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
Zimbabwe's education sector saddled with billions in debt
The Ministry of Primary and Secondary Education in Zimbabwe is grappling with significant financial challenges, with debts running into billions of Zimbabwe Gold (ZiG) currency, revealing the deepenin...Published: 06 Dec 2024 at 06:39hrs | 282 | by Staff reporter
Lake Gwayi-Tshangani construction set to resume
The long-awaited construction of the Lake Gwayi-Tshangani Dam in Matabeleland North is set to resume, thanks to a ZWG1 billion allocation in the 2025 national budget aimed at completing the remaining ...Published: 06 Dec 2024 at 06:35hrs | 992 | by Staff reporter
Forbes Border Post upgrade project approved
Cabinet has approved a public-private partnership (PPP) between the Ministry of Transport and Infrastructural Development and the Forbes Border Consortium, ushering in a new phase of modernisation for...Published: 01 Dec 2024 at 08:55hrs | 507 | by Staff reporter
RBZ assures bonus payments will not disrupt economic stability
Reserve Bank of Zimbabwe (RBZ) Governor Dr. John Mushayavanhu has assured that the payment of civil servant bonuses ahead of the festive season will not affect price stability or the exchange rate....Published: 01 Dec 2024 at 08:50hrs | 97 | by Staff reporter
Zimbabwe says 'undocumented migrants a security risk'
A recent report by the Parliamentary Portfolio Committee on Defence and Home Affairs has raised alarm about the potential security risks posed by undocumented migrants in Zimbabwe. The committee, chai...Published: 28 Nov 2024 at 06:53hrs | 1271 | by Staff reporter
Govt urged to empower traditional leaders to issue IDs
The Zimbabwean government has been called upon to expedite efforts in training traditional leaders to issue essential primary documents, such as birth and death certificates.This initiative is...Published: 27 Nov 2024 at 16:07hrs | 346 | by Staff reporter
All eyes on Professor Mthuli Ncube
As Zimbabwe prepares for the presentation of the 2025 National Budget, all eyes are on Finance, Economic Development, and Investment Promotion Minister, Professor Mthuli Ncube. The Budget, which serve...Published: 27 Nov 2024 at 08:13hrs | 1087 | by Staff reporter
Zimbabwe teachers petition govt over 'farm-like' wages
The Progressive Teachers Union of Zimbabwe (PTUZ) has formally petitioned the government over the ongoing issue of erratic salary payments, particularly highlighting delays in the payment of the local...Published: 23 Nov 2024 at 13:31hrs | 1642 | by Staff reporter
Zimbabwe chiefs to receive bonuses raising controversy
In a move that is likely to spark debate, Zimbabwe's traditional chiefs are set to receive bonuses just two months after they were gifted twin-cab vehicles worth millions of dollars. The decision come...Published: 20 Nov 2024 at 06:58hrs | 359 | by Staff reporter
Zimbabwe govt sinks in deep financial hole
The recent 43% devaluation of Zimbabwe's Zimbabwe Gold (ZiG) currency has exacerbated the government's financial crisis, leaving it struggling to meet its obligations while civil servants and other pu...Published: 19 Nov 2024 at 13:38hrs | 7666 | by Staff reporter
Underfunding sinks Zimbabwe school projects
Government-funded school projects are progressing at a snail's pace, with many targets missed due to insufficient funding from Treasury, according to a Parliamentary Portfolio Committee report. The re...Published: 19 Nov 2024 at 08:50hrs | 65 | by Staff reporter
Zimbabwe finance ministry bans foreign trips
The Zimbabwean government is tightening its belt in response to a severe cash crunch as it approaches the end of 2024. Finance Secretary George Guvamatanga has announced measures aimed at curbing spen...Published: 18 Nov 2024 at 15:24hrs | 5543 | by Staff reporter
Zimbabwe cuts some spending items as ZiG drop hits budget
Zimbabwe's currency devaluation is forcing the government to cut spending on certain budget items.The country's Treasury asked government departments to prioritize their spending commitments f...Published: 18 Nov 2024 at 15:08hrs | 156 | by Staff reporter
Innscor engages govt over tax
Innscor Africa Limited has raised concerns over high taxes and their detrimental impact on the company's profitability, warning that the escalating cost-push pressures are putting a strain on its fina...Published: 18 Nov 2024 at 15:06hrs | 175 | by Staff reporter
Mnangagwa commissions US$18,5m Bulawayo students' complex
President Emmerson Mnangagwa yesterday officially commissioned the state-of-the-art Bulawayo Students Accommodation City Complex, a landmark project in Matsheumhlope suburb valued at US$18.5 million. ...Published: 16 Nov 2024 at 14:22hrs | 332 | by Staff reporter
Confidence in Zimbabwe gold currency hits historic low
Confidence in the Zimbabwe Gold (ZiG) currency has dropped to an all-time low, a member of the Reserve Bank of Zimbabwe (RBZ) Monetary Policy Committee has admitted.Introduced in April this ye...Published: 14 Nov 2024 at 09:52hrs | 1830 | by Staff reporter
Mthuli Ncube to clear ZiG57m BEAM arrears
The Government has pledged to clear ZiG57 million in arrears owed to the Basic Education Assistance Module (BEAM), following a recent directive from the ruling Zanu-PF party to settle outstanding debt...Published: 14 Nov 2024 at 09:23hrs | 91 | by Staff reporter
Zimbabwe sitting on a time bomb, minister warns
Youth Empowerment Minister Tinoda Machakaire expressed frustration on Friday over Treasury's failure to settle approved allocations for his ministry as outlined in the 2024 national budget. Machakaire...Published: 10 Nov 2024 at 11:00hrs | 1165 | by Staff reporter
Emmerson Mnangagwa Stadium to be built in Mt Hampden?
In a bid to tackle the country's ongoing stadium crisis, the Parliamentary Portfolio Committee on Sports, Arts and Recreation has recommended the construction of a new stadium in Mt Hampden, located j...Published: 08 Nov 2024 at 07:13hrs | 11254 | by Staff reporter
ZiG4 billion required for digital migration
Zimbabwe requires an estimated ZiG4 billion to fully execute the second phase of its long-delayed digital migration project, known as Zim Digital, according to Dr. Jenfan Muswere, the Minister of Info...Published: 08 Nov 2024 at 06:56hrs | 89 | by Staff reporter
Zimbabwe govt posts ZiG3,4bn budget deficit
GOVERNMENT has reported a ZiG3,4 billion budget deficit for the first nine months of the year owing to inflationary pressures and growing expenditure.Finance, Economic Development and Investme...Published: 07 Nov 2024 at 07:13hrs | 269 | by Staff reporter
MPs demand release of CDF funds
Zimbabwean legislators have expressed frustration over the delayed release of Community Development Funds (CDF), which are intended to support development projects in their constituencies. The issue w...Published: 06 Nov 2024 at 06:58hrs | 44 | by Staff reporter
BancABC uses 'dirty tactics' to silence bosses?
BancABC is engulfed in controversy, facing accusations of fabricating charges against at least nine top managers as part of a strategy to evade paying retrenchment packages, NewZimbabwe.com has learne...Published: 04 Nov 2024 at 06:50hrs | 1349 | by Staff reporter
Bonuses for civil servants will be paid starting Friday next week
Starting Friday next week, Zimbabwean public sector employees will begin receiving their 2024 annual bonuses, with the first 50 percent instalment to be paid alongside November salaries and the remain...Published: 03 Nov 2024 at 10:05hrs | 1455 | by Staff reporter
Kwekwe doctors' residence project stalls
The reconstruction of the doctor's residence at Kwekwe General Hospital remains stalled due to lack of funding, leaving hospital staff struggling for accommodation nearly four years after a devastatin...Published: 01 Nov 2024 at 06:31hrs | 67 | by Staff reporter
Willowgate linked minister in another scandal involving 'stolen' millions
The High Court has mandated Public Service, Labour and Social Welfare Minister July Moyo and Higher and Tertiary Education Minister Fredrick Shava, who is linked to the Willowgate motor scandal, to re...Published: 30 Oct 2024 at 07:56hrs | 703 | by Staff reporter
One-stop-shop for Victoria Falls road upgrade
The Zimbabwean government has established a one-stop-shop to streamline coordination between key stakeholders and expedite the finalisation of a concession agreement for the rehabilitation of the Beit...Published: 30 Oct 2024 at 07:54hrs | 1162 | by Staff reporter
Zimbabwe ministers convicted for borrowing delinquency
Public Service Minister July Moyo and Higher and Tertiary Education Minister Fredrick Shava have been ordered by the High Court to repay a staggering ZWG206,370,840, which was borrowed from critical s...Published: 29 Oct 2024 at 16:37hrs | 5817 | by Staff reporter
Mnangagwa's govt in soup over unsanctioned US$500m 'loan'
A local citizen, Marvelous Khumalo, has taken the Zimbabwean government to court, demanding the repayment of over half a billion United States dollars allegedly misappropriated through unauthorized bo...Published: 29 Oct 2024 at 07:44hrs | 1116 | by Staff reporter
Zanu-PF to renew talks with Britain over pledge to fund Zimbabwe land reform process
President Emmerson Mnangagwa's party plans to reopen talks with Britain amid faint hopes the former colonial master could reconsider a return to its pledges to contribute financially towards Harare's ...Published: 28 Oct 2024 at 09:50hrs | 414 | by Staff reporter
Zimbabwe sees US$16.3 billion in diaspora remittances over a decade
Zimbabwe has experienced a significant influx of diaspora remittances, totaling US$16.3 billion over the past ten years, as more Zimbabweans living abroad send money back home to support their familie...Published: 28 Oct 2024 at 07:05hrs | 396 | by Staff reporter
Zimbabwe's new policy outlines plans to widen tax base
The Zimbabwean government has announced a new policy under the Zimbabwe Industrial Reconstruction and Growth Plan (ZIRGP) to simplify tax models for Small to Medium Enterprises (SMEs). This move aims ...Published: 27 Oct 2024 at 12:18hrs | 264 | by Staff reporter
Zimbabwe govt officials accused of land grab at Kanondo
Government officials have been accused of seizing land in the Kanondo area of Matabeleland North, designated for relocating villagers from Lubimbi to make way for the Gwayi-Tshangani Dam catchment are...Published: 25 Oct 2024 at 14:39hrs | 300 | by Staff reporter
Zimbabwe scales up fight against fraudulent vehicle imports
The Zimbabwe Revenue Authority (ZIMRA) has enlisted the help of the police in a new operation to track down fraudulently imported vehicles in the capital. The exercise, which runs from October to Dece...Published: 24 Oct 2024 at 16:27hrs | 4193 | by Staff reporter
Is Zimbabwe about to create land oligarchs?
The government, through Information minister Jenfran Muswere, has announced a significant shift in land policy, declaring that state land, previously offered to local indigenous people under the "land...Published: 21 Oct 2024 at 11:06hrs | 705 | by Admire Maparadza Dube
US$48 million needed to complete Lake Gwayi-Tshangani by 2025
At least US$48 million is required next year to complete the construction of Lake Gwayi-Tshangani, a crucial water project aimed at alleviating water shortages in Bulawayo and surrounding areas. This ...Published: 21 Oct 2024 at 07:40hrs | 253 | by Staff reporter
BRICs payment system being tested
A new digital payments system, BRICS Pay, debuted for live testing at this week's BRICS Business Forum at the International Trade Center in Moscow.During the trial - on 17 and 18 October - for...Published: 19 Oct 2024 at 15:54hrs | 1751 | by Staff reporter
Zimbabwe is undermining the ZiG by overspending
Zimbabwe's new gold-backed currency is likely being undermined by the state tapping the central bank for funding and selling Treasury bills to pay for its overspending, Imara Asset Management said....Published: 18 Oct 2024 at 08:54hrs | 1266 | by Staff reporter
George Guvamatanga rules out Zimbabwe exchange-rate convergence
Zimbabwe won't allow the street rate of the ZiG to determine where its official rate should be as it isn't driven by market fundamentals, a senior Treasury official said.The ZiG is trading at ...Published: 18 Oct 2024 at 08:53hrs | 1704 | by Staff reporter
Zimbabwe will start to pay 444 white farmers after land grabs
Zimbabwe will begin compensating White farmers whose land was seized in 2000 and led to the decimation of agriculture and the economy.The government has cleared 444 former commercial farm owne...Published: 17 Oct 2024 at 09:09hrs | 429 | by Staff reporter
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