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Chiwenga claims currency sabotaged
Zimbabwe's government admitted Wednesday that its domestic currency is facing new pressure as its value continues on a sharp slide against the United States dollar.The official exchange rate, ...Published: 23 Sep 2021 at 06:55hrs | 7058 | by Staff reporter
Con woman in court over US$488 000 fraud
A 33-year-old Harare suspected con-artist who dropped President Emmerson Mnangagwa's name in a fraud case involving close to half a million United States dollars has been further remanded in custody t...Published: 20 Sep 2021 at 18:59hrs | 1309 | by Staff reporter
'Dead' 14kg gold smuggler resurfaces, arrested
POLICE in Bulawayo have arrested Jefat Chaganda, the chief suspect in the 14 kilogramme gold case that happened in Plumtree in 2018.The case also resulted in the arrest of nine other suspects ...Published: 19 Sep 2021 at 08:16hrs | 496 | by Staff reporter
Zera probe unearths fuel scam
AN investigation by the Zimbabwe Energy Regulatory Authority (ZERA) has unearthed "massive abuse" of the Zimbabwean dollar fuel facility by oil marketers that insist on US dollar payments despite acce...Published: 19 Sep 2021 at 08:12hrs | 173 | by Staff reporter
Zimbabwe loses US$1,3bn in forex leaks
ABOUT US$1,3 billion is being siphoned out of the country every year and the proceeds are benefitting countries that ironically accuse Government of corruption.This was revealed by the Zimbabw...Published: 19 Sep 2021 at 08:10hrs | 235 | by Staff reporter
'Zimbabwean families struggling to buy food'
LEADING consumer bodies have confirmed that residents are experiencing decreased food levels in households on the back of the rising cost of living.This comes following a recent damning report...Published: 17 Sep 2021 at 06:19hrs | 286 | by Staff reporter
Mthuli Ncube in US
ZIMBABWE will seek to raise $200m in a debut domestic US dollar bond sale on its stock exchange in Victoria Falls that trades exclusively in foreign currency, says finance minister Mthuli Ncube....Published: 16 Sep 2021 at 19:50hrs | 1057 | by Staff reporter
Rising cement prices choke construction sector
Zimbabwe's construction sector is on a massive rebound, boosted by public spending on infrastructure and private development, but recent rising cement prices is becoming a major threat to the industry...Published: 13 Sep 2021 at 05:51hrs | 433 | by Staff reporter
Bosso on verge of securing massive sponsorship
FROM being labelled as clueless in the early days of his term, Highlanders executive committee chairman Johnfat Sibanda is about to prove his detractors wrong as he is on the verge of clinching the bi...Published: 12 Sep 2021 at 08:46hrs | 122 | by Staff reporter
ZSE-listed firms defy SecZim
ZIMBABWE'S listed companies have ignored implementing several measures put in place by the Securities and Exchange Commission of Zimbabwe (SecZim) about six years ago to enhance disclosure levels in f...Published: 10 Sep 2021 at 07:33hrs | 137 | by Staff reporter
Govt tells private schools to reimburse parents
Government has said private schools that increased fees without seeking approval must reimburse parents and guardians, as those behind the illegal hikes risk being jailed. Some private schools...Published: 10 Sep 2021 at 07:20hrs | 1674 | by Staff reporter
Bureaux de change start selling US dollars to public
BUREAUX de change yesterday started selling foreign currency to ordinary walk-in customers as per the resolutions of Reserve Bank of Zimbabwe monetary policy committee MPC) meeting last month to promo...Published: 10 Sep 2021 at 07:19hrs | 754 | by Staff reporter
Inside the cotton value chain
Cotton has been grown in Zimbabwe from as far back as 1940, even though production was enhanced after the establishment of the Cotton Marketing Board (CMB) in 1969. The white Gold is the second most i...Published: 09 Sep 2021 at 19:33hrs | 346 | by Victor Bhoroma
Mujuru's property escapes hammer
THE High Court has confirmed the provisional order granted on February 28 last year for stay of execution of a judgment allowing Tony Sarpo to attach former Vice-President Joice Mujuru's property over...Published: 08 Sep 2021 at 06:20hrs | 2331 | by Staff reporter
Banks wary of lending out US dollar loans
ZIMBABWE'S banks are sitting on US$1.7 billion and not willing to lend it to corporates due to the uncertainty around currency reforms which exposes them if they issue United States dollar-denominated...Published: 06 Sep 2021 at 06:50hrs | 2437 | by Staff reporter
Mines troop to VFEX
GOVERNMENT says several mining firms have indicated plans to list on Zimbabwe's year-old bourse, the Victoria Falls Stock Exchange (VFEX).VFEX, which exclusively trades in foreign currency, ha...Published: 03 Sep 2021 at 06:51hrs | 234 | by Staff reporter
Mnangagwa's growing love for rule-by-decree
President Emmerson Mnangagwa has been increasingly making use of Statutory Instruments (SI units) during his tenure as head of State. Analysts are describing it as a form of command politics steering ...Published: 02 Sep 2021 at 06:16hrs | 730 | by Staff reporter
Deutsche Bank cuts ties with Zimbabwean bank
Deutsche Bank has cut correspondent banking ties with Standard Bank Group’s Zimbabwean unit, dealing a body-blow to one of the few remaining international banking providers operational in the southe...Published: 01 Sep 2021 at 17:30hrs | 743 | by Staff reporter
2021 Mid Term Monetary & Budget analysis
The latest mid-term budget and monetary policy statements were presented in a low key mode with emphasis on avoiding policy shocks that can rock the economy. The Zimbabwean government revised upwards ...Published: 01 Sep 2021 at 15:30hrs | 485 | by Victor Bhoroma
More funds for road rehab
Government is set to go onto the market for complementary funding to ensure simultaneous implementation of the Emergency Road Rehabilitation Programme 2 (ERRP2) and undertaking of new road development...Published: 30 Aug 2021 at 05:48hrs | 170 | by Staff reporter
IPP doubts Zimbabwe judiciary
AN independent power producer (IPP) that is battling to force Zesa Holdings to settle US$9 million for electricity transmitted into the national grid has cast doubts in the independence of the judicia...Published: 29 Aug 2021 at 07:14hrs | 251 | by Staff reporter
Mthuli Ncube won't adopt the black market rate
FINANCE Minister Mthuli Ncube says the government will not be forced into following the parallel market foreign currency rate.He was responding to MPs during a question and answer session Wedn...Published: 28 Aug 2021 at 05:48hrs | 928 | by Staff reporter
Public confidence in Zimdollar keeps waning, no end in sight
THE revelation by Reserve Bank of Zimbabwe (RBZ) governor John Mangudya that the widening gap between the official and parallel foreign currency exchange rates is due to locals preferring the greenbac...Published: 27 Aug 2021 at 06:37hrs | 1626 | by Staff reporter
Power firm demands payment in forex, drags Zesa to arbitration
ONE of Zimbabwe's biggest independent power projects (IPPs) has approached the Johannesburg-based International Chamber of Commerce (ICC) to arbitrate over a payment dispute with the State-run Zimbabw...Published: 26 Aug 2021 at 06:38hrs | 464 | by Staff reporter
Zimbabwe welcomes IMF financial package
Zimbabwe has received a decisive economic boost from the International Monetary Fund (IMF) after the institution availed 961 million United States Dollars in a Special Drawing Rights allocation....Published: 24 Aug 2021 at 18:19hrs | 984 | by Staff reporter
Zimbabwe telcos facing resistance to more tariff increases
ZIMBABWE'S telecommunications firms desperately want to increase tariffs to counter rising costs stemming from the huge gulf between the official exchange rate and the one prevailing on the parallel m...Published: 24 Aug 2021 at 06:34hrs | 1063 | by Staff reporter
Zambian economy outplayed Lungu
The misconception that a replication of Edgar Lungu's political dilemma will befall Zimbabwe come 2023 will remain a mirage, not only for Nelson Chamisa who rushed to ululate at the then opposition pa...Published: 23 Aug 2021 at 07:47hrs | 2377 | by Daphine Zulu
Zimbabwe tobacco surpasses expectations, but farmers need better deal
ZIMBABWE has this year enjoyed one of its most productive tobacco seasons, but poor payment models for the farmers caused by the currency volatility left many farmers at the mercy of contract buyers....Published: 23 Aug 2021 at 06:52hrs | 235 | by Staff reporter
Outcry as RTGS fuel is sold in forex
HALF of the fuel on the market is procured through the Reserve Bank of Zimbabwe (RBZ) financial facility and should be sold in local currency, but some unscrupulous garage owners who are benefitting f...Published: 22 Aug 2021 at 07:49hrs | 474 | by Staff reporter
'Public prefers US$ over Zimdollars'
RESERVE Bank of Zimbabwe (RBZ) governor John Mangudya has blamed the widening gap between the official and parallel forex rates on locals preferring greenback over the local currency as a store of val...Published: 21 Aug 2021 at 07:35hrs | 1321 | 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 | 6471 | by Staff reporter
Unfortunately, you can now buy counterfeit money online
DUE to the Covid-19 outbreak counterfeiters of United States dollars and South African rands have now moved from the streets to online.There is now always a website that is ready to sell and d...Published: 13 Aug 2021 at 06:45hrs | 199 | by Jacob Mutisi
Shocking bills for Covid-19 patients
Most private hospitals offering Covid-19 treatment are turning the pandemic into an economic and psychological nightmare for patients, with some of the institutions charging admission fees of up to US...Published: 08 Aug 2021 at 07:16hrs | 410 | by Staff reporter
Doctors profiteer from COVID-19 patients
SOME medical practitioners in collusion with private health facilities are reportedly reaping off COVID-19 patients by charging extortionate fees for treatment, NewsDay reported.This followed ...Published: 06 Aug 2021 at 08:07hrs | 996 | by Staff reporter
Inefficient auction system dragging economic recovery
Zimbabwe has managed to turnaround and achieve double digit annual inflation from a periodic high of 838% realized in July 2020 to 56% achieved in July 2021. The redollarization of the local economy a...Published: 04 Aug 2021 at 15:57hrs | 785 | by Victor Bhoroma
IMF approves SDR for Zimbabwe, Biti will not be happy
The International Monetary Fund (IMF) has approved a new general allocation of Special Drawing Rights (SDR) equivalent to US$650 billion, the largest in the IMF's history, in an effort to boost global...Published: 04 Aug 2021 at 06:24hrs | 1608 | by Staff reporter
Zimbabweans thrown into fresh misery
ZIMBABWE ANS were yesterday thrown into fresh misery after Finance minister Mthuli Ncube stuck to his anti-people policies announced in the 2021 National Budget last November, saying he would not revi...Published: 30 Jul 2021 at 07:48hrs | 4797 | by Staff reporter
'Mthuli Ncube, Mangudya refusing to cooperate with fuel cartels investigations'
Energy and Power Development deputy minister Magna Mudyiwa has told Parliament that the finance ministry and the Reserve Bank of Zimbabwe (RBZ) are refusing to release information that is critical in ...Published: 28 Jul 2021 at 08:58hrs | 3040 | by Staff reporter
State makes U-turn in Mnangagwa name-dropping con-artist
THE State yesterday made a U-turn and filed an application for the revocation of its consent after it allowed bail to a 33-year-old Harare con-artist who dropped President Emmerson Mnangagwa's name in...Published: 27 Jul 2021 at 07:24hrs | 3777 | by Staff reporter
Cop arrested for receiving money to influence magistrate, prosecutor
A POLICE officer based in Ruwa has appeared before Harare magistrate Dennis Mangosi facing criminal abuse of office charges after he allegedly received money meant to influence the magistrate to deny ...Published: 27 Jul 2021 at 07:22hrs | 2723 | by Staff reporter
Challenges facing Zimbabwe's foreign exchange auction
IT is clear that the auction for foreign exchange is in trouble. The arrears now stand at over US$200 million. That is equivalent to nearly Z$18 billion and the delays are having a serious impact on c...Published: 27 Jul 2021 at 07:16hrs | 1052 | by Eddie Cross
Con-artist drops Mnangagwa's name in US$488 000 fraud case
A 33-YEAR-OLD Harare con-artist dropped President Emmerson Mnangagwa's name in a fraud case involving close to half a million United States dollars.The woman, Eustine Charambira (33), duped a ...Published: 24 Jul 2021 at 07:24hrs | 1647 | by Staff reporter
CABS taken to court over currency conversion
ARCHITECTURAL firm Stone/Beattie Studio has filed a High Court application seeking to recover US$142 000 from Central Africa Building Society (CABS) that was converted to the equivalent local unit fol...Published: 23 Jul 2021 at 08:58hrs | 938 | by Staff reporter
Teachers reject 'measly' pay hike
TEACHERS have rejected the 45% to 50% salary increment that government has offered them, saying it was inadequate as it will result in the lowest-paid teacher earning $28 600 against a poverty datum l...Published: 22 Jul 2021 at 08:02hrs | 1484 | by Staff reporter
Zimra collects $108bn revenue
Zimra collected $108,93 billion in taxes and duties for the quarter of April to June this year surpassing its target by 15,96 percent, mainly due to intensified enforcement of tax laws and revenue enh...Published: 19 Jul 2021 at 06:38hrs | 208 | by Staff reporter
Tagwirei's vast tentacles grip Zimbabwe government
KUDAKWASHE Tagwirei's influence on government in recent years has been unmatched.The shadowy businessman has emerged one of the biggest beneficiaries of the November 2017 military coup which o...Published: 17 Jul 2021 at 15:26hrs | 2353 | by Staff reporter
Zanu-PF dismisses fake news
Zanu-PF has dismissed as fictitious, a report in a local daily newspaper yesterday claiming the ruling party has failed to fulfil its 2018 election promises. In a statement yesterday, Za...Published: 16 Jul 2021 at 09:02hrs | 368 | by Staff reporter
What does it take for the judiciary to hear a matter before them?
Marvo Stationary Manufacturing Company employees have not been paid their unpaid salaries since the United States Dollar and the use of the multi currency regime during the Government of Nationa...Published: 14 Jul 2021 at 16:37hrs | 226 | by Mbonisi Gumbo
SI 127 ghost still haunting economy
After passing Statutory Instrument (SI) 127 of 2021 on the 26th of May 2021, the Zimbabwean government made a quick summersault on the new regulations through a press statement issued by the Reserve B...Published: 14 Jul 2021 at 08:47hrs | 518 | by Victor Bhoroma
What does it take for the judiciary to hear a matter before them?
Marvo Stationary Manufacturing Company employees have not been paid their unpaid salaries since the United States Dollar and the use of the multi currency regime during the Government of Nationa...Published: 13 Jul 2021 at 20:24hrs | 640 | by Mbonisi Gumbo
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