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Zimbabwe's banking sector sees surge in US dollar deposits
Zimbabwe's banking sector has experienced a remarkable increase in confidence, with foreign currency deposits rising by 13% to US$2.64 billion in October 2024, compared to the same period in 2023. Thi...Published: 14 Dec 2024 at 12:35hrs | 2141 | by Staff reporter
RBZ deputy governor says Zimbabwe banking sector is resilient, stable
Reserve Bank of Zimbabwe (RBZ) Deputy Governor, Innocent Matshe, has highlighted the continued resilience and stability of the country's banking sector, despite facing challenges such as liquidity iss...Published: 13 Dec 2024 at 09:36hrs | 83 | by Staff reporter
Harare loses millions in potential revenue
The City of Harare is losing millions of United States dollars in potential revenue from unpaid rates, with tuckshop owners and residents among the main defaulters. This was revealed by Acting Revenue...Published: 12 Dec 2024 at 06:56hrs | 322 | by Staff reporter
Zimbabwe's cash reserves cannot cover a month
The Zimbabwe National Chamber of Commerce (ZNCC) has raised alarm over the country's dwindling foreign currency reserves, warning that the current US$540 million is insufficient to cover even a single...Published: 06 Dec 2024 at 18:10hrs | 646 | by Staff reporter
RBZ keeps rates steady
Reserve Bank of Zimbabwe (RBZ) Governor John Mushayavanhu has announced that the bank policy rate will remain at 35%, and statutory reserve requirements will stay unchanged, as the central bank seeks ...Published: 05 Dec 2024 at 06:55hrs | 447 | by Staff reporter
Mupita's contract extended by MTN Group
MTN has announced an extension of Group CEO Ralph Mupita's contract until 31 August 2030. It was originally set to run until 30 September 2025.The company says the MTN Group board of directors...Published: 30 Nov 2024 at 15:13hrs | 510 | by Staff reporter
Zimbabwe's blueberry sector eyes 30,000-tonne target by 2030
Zimbabwean horticultural farmers are aiming to produce 30,000 metric tonnes of blueberries annually by 2030, a goal that underscores the rapid growth of the sector. However, this ambitious target is b...Published: 27 Nov 2024 at 12:44hrs | 365 | 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 | 1088 | by Staff reporter
Zimbabwean inflation slows
Zimbabwe's monthly inflation rate slowed for the first time in four months, as volatility that's plagued the nation's gold-backed ZiG currency shows signs of ebbing.Consumer prices rose 11.7% ...Published: 26 Nov 2024 at 19:37hrs | 449 | by Staff reporter
ZiG spawns upheavals in insurance industry
Insurers have been scrambling to reassure policyholders as market jitters resurface in the wake of the introduction of Zimbabwe Gold (ZiG) in April. With memories of the devastating currency shifts in...Published: 24 Nov 2024 at 10:13hrs | 253 | by Staff reporter
Construction thrives in Zimbabwe
Zimbabwe's construction sector is on the rebound despite the effects of currency volatility and an uncertain monetary policy framework.Piniel Mkushi, chairman of Cafca - the only cable manufac...Published: 22 Nov 2024 at 17:18hrs | 3184 | by Staff reporter
'ZSE left with two valuable counters'
The Zimbabwe Stock Exchange (ZSE) is witnessing a significant shift, with Delta Corporation Limited and Econet Wireless Zimbabwe now standing as the only major valuable counters on the bourse. Several...Published: 20 Nov 2024 at 07:03hrs | 198 | 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
Zimbabwe miners propose royalties linked to metal prices
Zimbabwe's Chamber of Mines has put forward a proposal to the Ministry of Finance suggesting that royalty payments be linked to the market prices of metals, including lithium and platinum group metals...Published: 16 Nov 2024 at 14:27hrs | 97 | 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 | 1832 | by Staff reporter
Delta dumps normal supplies route amid Mozambique political turmoil
Despite using the shortest route for its timeous raw material distribution and chain supplies over the years, listed beverages manufacturing giant, Delta Corporation Limited, has announced political s...Published: 07 Nov 2024 at 13:02hrs | 1248 | by Gideon Madzikatidze/Simbarashe Sithole
Why Kamala Harris Lost and How Donald Trump Won: A Deep Analysis of the 2024 US Election
Today I am mourning, but this too shall favour me - Donald Trump's victory and Kamala Harris's loss carry lessons for us all. She joined the race just 107 days ago, facing a former president who began...Published: 06 Nov 2024 at 12:43hrs | 1722 | by Ifeanyi Abraham
Weak currency key to economic growth, says Mthuli Ncube
Finance, Economic Development and Investment Promotion Minister Mthuli Ncube has defended Zimbabwe's weak domestic currency, asserting that it has played a crucial role in fostering economic growth. S...Published: 31 Oct 2024 at 06:52hrs | 647 | by Staff reporter
Economy registers three-year growth, says Prof Ncube
Zimbabwe has sustained robust economic growth over the past three years, averaging an impressive 6.8 percent annually, despite significant currency fluctuations, Finance, Economic Development, and Inv...Published: 31 Oct 2024 at 06:48hrs | 89 | by Staff reporter
'Zanu-PF ignores economy over ED2030 agenda'
The recently concluded Zanu-PF annual conference in Bulawayo has drawn sharp criticism from political analysts, who argue that the event underscored the ruling party's indifference toward Zimbabwe's e...Published: 30 Oct 2024 at 07:55hrs | 228 | by Staff reporter
ZiG inflation rate now pegged at 37.2%
Zimbabwe's inflation rate for the Zimbabwe Gold (ZWG) currency surged to 37.2% in October, according to the latest data from the Zimbabwe National Statistics Agency (Zimstat). This sharp increase, ref...Published: 26 Oct 2024 at 12:48hrs | 299 | by Staff reporter
Zimbabwe needs alternative to US$
Persistence Gwanyanya, a member of the Reserve Bank of Zimbabwe's (RBZ) Monetary Policy Committee, has underscored the urgent need for alternatives to the US dollar as a store of value, highlighting c...Published: 25 Oct 2024 at 14:40hrs | 565 | by Staff reporter
'ZiG must go'
The Zimbabwe Gold (ZiG) currency is facing mounting pressure from the business community, which is advocating for its removal due to increasing volatility, despite the Reserve Bank of Zimbabwe's (RBZ)...Published: 24 Oct 2024 at 08:02hrs | 2206 | by Staff reporter
US investment in Zimbabwe's mining stall, Chinese investment booming
Zimbabwe's mining sector, despite being rich in natural resources, is facing challenges in attracting substantial investment from U.S. companies. Experts attribute this to policy inconsistency and cur...Published: 22 Oct 2024 at 17:16hrs | 1803 | by Staff reporter
Factional fighting in ZANU PF: Is Mnangagwa's quest for power putting Zimbabwe at risk?
IN 2017, Simon Khaya Moyo, the then ZANU-PF spokesperson, described Emmerson Mnangagwa as "dishonest," "divisive," and "deceptive" when the ruling party dismissed him. Today, these descriptors...Published: 20 Oct 2024 at 17:22hrs | 1085 | by Tendai Ruben Mbofana
Billions 'wiped off' Zimbabwe banks
Bankers in Zimbabwe have attributed a significant downturn in revenues to frequent changes in the country's functional currency, as first-half financial statements revealed a staggering loss of billio...Published: 18 Oct 2024 at 12:28hrs | 1433 | by Staff reporter
Taxes, fees to be paid in ZiG
The Zimbabwean Treasury is set to implement new measures requiring most taxes and fees to be paid exclusively in the Zimbabwe Gold (ZiG) currency, a move aimed at increasing demand and stabilizing its...Published: 17 Oct 2024 at 09:05hrs | 2523 | by Staff reporter
ZiG struggles persist
The woes surrounding the Zimbabwe Gold (ZWG) currency show no signs of abating, as retailers continue to implement a three-tier pricing system for products, complicating consumer transactions and unde...Published: 15 Oct 2024 at 08:39hrs | 2787 | by Staff reporter
Mthuli Ncube assures Zimbabweans amid ZiG volatility concerns
Finance Minister Mthuli Ncube has reassured Zimbabweans that there is no cause for alarm regarding potential volatility of the Zimbabwe Gold (ZWG) currency, citing the country's balanced local currenc...Published: 12 Oct 2024 at 11:22hrs | 376 | by Staff reporter
Mnangagwa, central bank deliver damp squibs
President Emmerson Mnangagwa's recent State of the Nation Address (Sona) has come under heavy criticism from leading economists, who say it lacked concrete solutions to arrest the nation's spiraling e...Published: 11 Oct 2024 at 18:33hrs | 1320 | by Staff reporter
Zimbabwe hires Rothschild advisers over $21 Billion defaulted debt pile
Zimbabwe's government has hired financial and legal advisers to help it navigate potential talks with international creditors over the $21 billion it owes, according to people familiar with the matter...Published: 10 Oct 2024 at 12:22hrs | 536 | by Staff reporter
Doji Candle: Understanding Its Role in Trading
The Doji candle stands out as one of the most intriguing candlestick patterns used by traders, offering a window into the market's state of uncertainty. It frequently appears during moments when buyer...Published: 09 Oct 2024 at 13:17hrs | 366 | by Staff Reporter
'ZiG defence plan doomed'
The introduction of Zimbabwe's gold-backed currency, Zimbabwe Gold (ZiG), has faced a series of severe setbacks, pushing the economy deeper into turmoil, according to a new report by the Confederation...Published: 05 Oct 2024 at 16:35hrs | 2670 | by Staff reporter
NetOne CEO makes US$1bn move
NetOne, Zimbabwe's oldest mobile telecoms operator, has laid ambitious plans to achieve US$1 billion in annual revenue by 2029, despite facing challenges in accessing capital. Chief executive officer ...Published: 05 Oct 2024 at 16:35hrs | 1264 | by Staff reporter
ZiG adjustment stabilises prices, claims Mthuli Ncube
The recent adjustment of the exchange rate between the Zimbabwe Gold (ZiG) currency and the United States dollar has successfully stabilised market prices, Finance, Economic Development and Investment...Published: 05 Oct 2024 at 11:29hrs | 167 | by Staff reporter
Zimbabwe bankers warn of price increases
Bankers in Zimbabwe are raising alarms about potential price increases and shortages of basic commodities following the recent devaluation of the Zimbabwe Gold (ZiG) by over 40% by the Reserve Bank of...Published: 03 Oct 2024 at 08:56hrs | 299 | by Staff reporter
BAZ, central bank meet over policy interventions
The Bankers Association of Zimbabwe (BAZ) held a crucial meeting with the Reserve Bank of Zimbabwe (RBZ) governor, Dr. John Mushayavanhu, on Monday to address key policy changes from the Monetary Poli...Published: 03 Oct 2024 at 08:44hrs | 56 | by Staff reporter
'RBZ's monetary policy not the root cause of ZiG devaluation'
Recent findings by an anonymous economist suggest that the Reserve Bank of Zimbabwe's (RBZ) monetary policy may not be the root cause of the depreciation of the Zimbabwean dollar (Zig). The analysis e...Published: 02 Oct 2024 at 11:36hrs | 1359 | by Staff reporter
Zimbabwe shops impose limits amid panic-buying?
Some shops across Zimbabwe have imposed "one item per person" rules for products such as milk to fend off panic-buying triggered by a new loss of faith in the country's latest currency.Last we...Published: 02 Oct 2024 at 07:57hrs | 1181 | by Staff reporter
Zinasu protests ZiG devaluation
The Zimbabwe National Students Union (Zinasu) has voiced its concerns over the rapid devaluation of the local currency, warning that it will exacerbate the already difficult conditions faced by studen...Published: 01 Oct 2024 at 09:04hrs | 210 | by Staff reporter
Bulawayo pegs 2025 budget at US$309m
The Bulawayo City Council (BCC) has unveiled a proposed budget of US$309 million for 2025, marking a 17% increase from the US$264 million budget for 2024. The proposal, presented by the Finance and De...Published: 30 Sep 2024 at 07:44hrs | 137 | by Staff reporter
Zimbabweans outraged after RBZ devalues ZiG
A storm of outrage has swept across Zimbabwe following the Reserve Bank of Zimbabwe's (RBZ) shocking decision to devalue the Zimbabwe Gold (ZiG) currency by 75%. The drastic measure has ignited a wave...Published: 28 Sep 2024 at 13:27hrs | 6780 | by Staff reporter
Mayor Coltart criticises ZiG, after sharp devaluation
On Friday, Bulawayo's Mayor, David Coltart, took to Twitter to express his concern over the sudden devaluation of Zimbabwe's newly introduced currency, th...Published: 28 Sep 2024 at 06:48hrs | 2053 | by Staff Reporter
RBZ raises bank policy rate to 35%
The Reserve Bank of Zimbabwe (RBZ) has announced significant measures to tackle resurgent exchange rate volatility and mitigate inflationary pressures. Effective immediately, the bank policy rate has ...Published: 27 Sep 2024 at 15:29hrs | 1317 | by Staff reporter
Zimbabwe's gold backed currency ZiG plummets by over 75%
The Reserve Bank of Zimbabwe (RBZ) today allowed the Zimbabwe Gold (ZiG) currency to fall by over 74% against the US dollar, following weeks of mounting pressure on the currency introduced in April. A...Published: 27 Sep 2024 at 13:56hrs | 960 | by Staff reporter
ZSE outshines VFEX in wealth creation
The Zimbabwe Stock Exchange (ZSE) has emerged as the preferred investment destination for those seeking wealth creation, surpassing the foreign currency-denominated Victoria Falls Stock Exchange (VFEX...Published: 26 Sep 2024 at 13:37hrs | 62 | by Staff reporter
Zimbabwe urged to ditch 'command' exchange rate
The government of Zimbabwe is facing increasing pressure to abandon its "command" exchange rate for the Zimbabwe Gold (ZiG) currency, introduced in April, as businesses struggle to cope with currency ...Published: 25 Sep 2024 at 09:21hrs | 3973 | by Staff reporter
Currency crisis piles more misery on fragile Zimbabwe economy
Leading economists have raised concerns over the potential economic impact of the recent waves of price hikes and currency volatility, which threaten to further destabilize an already fragile economy....Published: 20 Sep 2024 at 13:12hrs | 3499 | by Staff reporter
Zimbabwe central bank bites back
This year, authorities in Zimbabwe have recorded over 1,100 cases of debit card abuse linked to backstage black market dealers, highlighting the ongoing challenges of a protracted currency crisis. The...Published: 20 Sep 2024 at 09:35hrs | 6195 | by Staff reporter
Can Zimbabwe ZiG-zag away from the USD?
ZIMBABWE'S economy has suffered immensely since 2008, when inflation exceeded a million percent.Since then, the government has made six attempts to adopt a local currency, with the latest comi...Published: 13 Sep 2024 at 16:04hrs | 2772 | by Nkosi Moyo
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