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Zimbabwe must adopt the rand, says Fitch Solutions
ZIMBABWE must adopt the South African Rand to deal with the worsening currency crisis caused by the shortage of United States dollars, an international research firm has said. United Kingdom-b...Published: 18 Nov 2018 at 07:46hrs | 1130 | by Staff reporter
Currency options for crisis-ridden Zimbabwe
Zimbabwe needs to introduce a hybrid foreign currency management system or create a long maturity US$ Brady type bond to preserve savings amid the currency chaos, renowned economist Ashok Chakravarti ...Published: 18 Nov 2018 at 07:45hrs | 705 | by Staff reporter
The most treasonous act you can do for your country is to support Zanu PF
If you support Zanu, you will be helping future Zimbabwean children to become perpetual slaves of other Nations while armed thieves in Zanu exponentiate their wealth.Imagine a country where yo...Published: 17 Nov 2018 at 17:19hrs | 3976 | by Ryton Dzimiri
Opinion: Perspective . . .
SEEING things in perspective has never been more important in Zimbabwe. If we fail to do so, our view of the current problems we are encountering will be distorted and we may all make decisions we lat...Published: 17 Nov 2018 at 06:49hrs | 112 | by Eddie Cross
'Mnangagwa crackdown on money changers futile'
The crackdown on black market currency trading to curb a parallel market blamed for the spike in prices is not enough to address the problem, economists said yesterday.This comes as there has ...Published: 16 Nov 2018 at 12:31hrs | 6518 | by Staff reporter
US dollar taxes loom
Businesses charging goods and services in foreign currency should start paying taxes, particularly value added tax (VAT) in hard currency, according to Zimbabwe Revenue Authority (Zimra) Commissioner ...Published: 16 Nov 2018 at 07:03hrs | 8700 | by Staff reporter
A year after Mugabe, hopes for a new Zimbabwe still low
A year since a trio of army generals held former Zimbabwean President Robert Mugabe under house arrest as part of a 10-day military operation that enabled his protege, Emmerson Mnangagwa, to take powe...Published: 15 Nov 2018 at 09:19hrs | 942 | by Aljazeera
Government calls rogue pharmacies to order
GOVERNMENT has directed pharmacies to stop demanding foreign currency from patients for drugs which are now available locally through NatPharm. In an interview at the close of the 67th East, C...Published: 15 Nov 2018 at 05:35hrs | 985 | 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: 14 Nov 2018 at 15:10hrs | 3013 | by newZwire with The Source
Mnangagwa's govt and Zimbabwe banks should carry own cross
If there is anything that we could learn from the global economic crisis of 2008, it is that excessive risk-taking, manipulation and poor hedging often result in huge enterprise and economic losses. T...Published: 14 Nov 2018 at 09:39hrs | 2450 | by Equity Axis
Industrial action against Mthuli Ncube looming
Air Zimbabwe has been allowed by the cabinet of President ED Mnangagwa to charge its clients (especially diasporas) in foreign currency. The confused minister in charge of Air Zimbabwe Joel Biggie Mat...Published: 13 Nov 2018 at 11:50hrs | 3413 | by Don Chigumba
Questions Mthuli Ncube won't answer
With the economy in a tailspin, Finance minister Mthuli Ncube's role has become ever so important, but instead of being accessible, he has shied away from the media.In the past few weeks, his ...Published: 11 Nov 2018 at 12:10hrs | 1032 | by Staff reporter
Schools in USD fees U-turn
A number of private schools that were contemplating charging their fees in foreign currencies are now backtracking on the idea which could have pushed away some of their learners.In the wake o...Published: 10 Nov 2018 at 16:46hrs | 4915 | 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 | 5056 | by Staff reporter
RBZ boss refuses to scrap bond notes
RESERVE Bank of Zimbabwe (RBZ) Governor Dr John Mangudya yesterday defended the use of bond notes saying the real cause of problems facing the economy was not the surrogate currency but ballooning ele...Published: 09 Nov 2018 at 05:02hrs | 5761 | by Staff reporter
Mthuli Ncube to present 2019 budget on November 22
FINANCE minister Mthuli Ncube has said he will present his maiden budget statement on November 22, in what will be a litmus test of how he will address Zimbabwe's economic crisis.Shortages of ...Published: 07 Nov 2018 at 06:07hrs | 955 | by Staff reporter
Mnangagwa's pronouncement on Mthuli Tax a welcome relief
President Emmerson Mnangagwa's recent announcement that he will review the two cents per dollar transaction tax is a welcome relief to long-suffering Zimbabweans.The new tax regime introduced ...Published: 06 Nov 2018 at 11:49hrs | 12594 | by Staff reporter
Boarding schools face early closure
Most boarding schools in the country are at the verge of shutting down early due to food shortages amid current price hikes.This comes after price hikes disarmed the buying power that many sch...Published: 06 Nov 2018 at 11:39hrs | 3564 | 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 | 6054 | 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 | 3993 | by Staff reporter
Zimbabwe gets $1 billion bailout?
The African Export Import Bank (Afreximbank) has extended a $1 billion loan to Zimbabwe to guarantee the convertibility value of Real Time Gross Settlement (RTGS) balances into United States dollars a...Published: 02 Nov 2018 at 15:08hrs | 13663 | by Staff reporter
'Zimbabwe goods smuggled out of the county'
A number of product lines that have become household names in Zimbabwe are being smuggled out of the country, thereby depriving the fiscus of millions of United States dollars.The Daily News c...Published: 31 Oct 2018 at 13:25hrs | 1167 | by Staff reporter
Zimbabwe banks fingered in US dollar scams
Market indiscipline in the local financial services sector necessitated the separation of Foreign Currency Accounts (FCAs) and real time gross settlement (RTGS) accounts, Finance and Economic Developm...Published: 30 Oct 2018 at 05:17hrs | 2312 | by Staff reporter
Millers blast bakers over bread price
The Grain Millers Association of Zimbabwe (GMAZ), which represents the country's major milling companies, has said bakers' decision to unilaterally increase the price of bread from $1.10 to $2.20 is u...Published: 29 Oct 2018 at 05:36hrs | 833 | by Staff reporter
Zimbabweans sleeping in food and petrol queues
Zimbabweans are sleeping in petrol queues and spending hours lining up for basic food, as the country suffers its worst economic crisis in a decade.Nearly a year after the downfall of dictator...Published: 28 Oct 2018 at 08:51hrs | 1040 | by abc.net.au/
Gumbo defends Sakunda boss AKA 'Queen B'
An explosive social media broadcast by a Zanu-PF insider last week sparked debate about an alleged cartel controlling fuel distribution in the country amid allegations of abuse of foreign currency....Published: 28 Oct 2018 at 08:18hrs | 1812 | by Staff reporter
Mnangagwa expose government's lack of appreciation of Zimbabwe's problems
President Emmerson Mnangagwa's claim that social media is to blame for the current economic meltdown has exposed the government's lack of appreciation of Zimbabwe's problems that now require decisive ...Published: 28 Oct 2018 at 08:10hrs | 566 | by Editorial - The Standard
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 | 2659 | by Staff reporter
Mnangagwa guns for Zanu-PF chefs
PRESIDENT Emmerson Mnangagwa yesterday told restive Zanu-PF chefs, who he said were using political positions to achieve selfish and corrupt ends to sabotage the economy, that he was coming for them....Published: 26 Oct 2018 at 07:18hrs | 5990 | by Staff reporter
Let's not indulge obstructionists
The more I see some categories of people who are stridently and rabidly opposing Finance minister Mthuli Ncube's economic stabilisation programme - as opposed to those offering measured and constructi...Published: 26 Oct 2018 at 07:10hrs | 179 | by Conway Tutani
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 linked to 'untidy' Zanu-PF hatchet job
ZIMBABWEANS have reacted strongly to government's apparent failure to both detect and act upon a massive foreign currency scandal involving some top central bank managers and a handful connected indiv...Published: 25 Oct 2018 at 08:10hrs | 8267 | by newzimbabwe
US dollar payment of salaries dilemma
WITH the economic meltdown continuing to erode salaries, many employees are now searching for ways of preserving their earnings and many are now demanding payment in US dollars. Unions have al...Published: 25 Oct 2018 at 06:36hrs | 2241 | by Davies Ndumiso Sibanda
Desperate Chamisa now wants a transitional govt
MDC Alliance leader Nelson Chamisa yesterday proposed a transitional government for the country, which he said would resolve the issue of legitimacy and have sufficient buy-in from Zimbabweans to deal...Published: 24 Oct 2018 at 06:49hrs | 5192 | by Staff reporter
Chamisa demands 2% tax refunds
MDC leader Nelson Chamisa, has demanded that government reverses and refund Zimbabweans all the money they lost following the introduction of the infamous tax regime, which milks two cents on every do...Published: 23 Oct 2018 at 14:03hrs | 1893 | by Staff reporter
Mnangagwa strikes at RBZ as promised
HEADS have started rolling at the Reserve Bank of Zimbabwe (RBZ), with four top executives being suspended yesterday less than 24 hours after Finance ministry communications taskforce chairperson Will...Published: 23 Oct 2018 at 06:40hrs | 12083 | by Staff reporter
Ex-CIO RBZ director suspended again
Reserve Bank of Zimbabwe has suspended its senior officials pending investigations into allegations levelled against them by Finance and Economic Development Ministry chairman of the communications ta...Published: 22 Oct 2018 at 21:39hrs | 8861 | by Staff reporter
Wadyajena blasts Modi, Mthuli for indicating right while turning left
Zanu-PF legislator Justice Mayor Wadyajena has blasted deputy minister of Industry Raji Modi and Finance Minister Mthuli Ncube for what he called "indicating right while they turn left" through preach...Published: 22 Oct 2018 at 09:31hrs | 5162 | by Stephen Jakes
Zimbabwe 'soldiers' invade shops, impose own prices
THREE men clad in army uniform on Wednesday went on a rampage, forcing Mutasa shop owners, "at knife point", to reduce prices of selected goods they went on to purchase, an MP from the area has report...Published: 22 Oct 2018 at 07:41hrs | 17196 | by newzimbabwe
Mnangagwa's ministers in political storm
POLICE have reportedly sought search and seizure warrants against named top Zanu PF officials and former Cabinet ministers as government begins swooping on cash barons and suspected economic saboteurs...Published: 21 Oct 2018 at 10:20hrs | 3235 | by Staff reporter
'Zimbabwe teachers' wages now US$75'
Takavafira Zhou, Progressive Teachers Union of Zimbabwe (PTUZ) president says Zimbabwean teachers' wages have now diminished to a paltry US$75 if converted to the more stable foreign currency....Published: 21 Oct 2018 at 10:15hrs | 3541 | by newzimbabwe
Jonathan Moyo raps Modi for selling goods in US Dollar
Former Zanu PF legislator Jonathan Moyo has rapped deputy minister of industry Raji Modi for telling the public that some of his goods are being sold in US dollar only while telling other businesses t...Published: 21 Oct 2018 at 08:27hrs | 3979 | by Stephen Jakes
Biti savages Mthuli Ncube
Opposition kingpin Tendai Biti has lashed Finance minister Mthuli Ncube for his "wrong economic prescriptions" for the country.This comes after Ncube's recent policy measures - which include t...Published: 20 Oct 2018 at 13:54hrs | 6111 | by Staff reporter
Zimbabwe shops cut working hours amid crisis
The country's economy continues in turbulence with some retail outlets now reducing business hours while the fuel situation is deteriorating with diesel, which is the engine of industry, in short supp...Published: 20 Oct 2018 at 08:19hrs | 949 | by Staff reporter
Ministers face arrest in blitz
POLICE have reportedly sought search and seizure warrants against named top Zanu-PF officials and former Cabinet ministers as government begins swooping on cash barons and suspected economic saboteurs...Published: 20 Oct 2018 at 08:18hrs | 2002 | by Staff reporter
Price controls, tinkering with the deck while the titanic is sinking
Zanu PF mediocrity, lack of care for the people of Zimbabwe and their nauseating pursuit of patronage and self-preservation are the reasons of economic collapse in Zimbabwe.An attempt to contr...Published: 19 Oct 2018 at 15:54hrs | 2294 | by Jacob Mafume, MDC National Spokesperson
Mnangagwa's first 50 days: Zimbabwe sinks deeper into abyss
PRESIDENT Emmerson Mnangagwa this week completed 50 days in office, but in that short stint, the negatives have so far outweighed the positives amid indications he faces a herculean task in his bid to...Published: 19 Oct 2018 at 06:56hrs | 3573 | by Staff reporter
Mthuli Ncube running out of time
AS ZIMBABWE'S economy continues to lurch from one crisis to the other, business leaders and economists say the government is running out of both time and "rope" to turn the situation around.Th...Published: 18 Oct 2018 at 15:06hrs | 3866 | by Staff reporter
Zim economy in typical labour pains
Some pains are just but a necessary evil and ought to be lived through than avoided if the benefits are to be harnessed in totality. Joys of motherhood come with excruciating pain, sweating and energy...Published: 18 Oct 2018 at 11:13hrs | 2669 | by Caitlin Kamba
We told you so!
SOMETIMES it's nice to be right, that does not often happen, but in this case I am sorry that those of us who had said we are headed for trouble, were right.I am referring to the first stateme...Published: 18 Oct 2018 at 06:59hrs | 1373 | by Eddie Cross
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