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Zimbabwe banking sector strengthens amid declining non-performing loans
The Reserve Bank of Zimbabwe (RBZ) has reported a significant improvement in the country's banking sector credit risk landscape, marked by a decrease in the ratio of non-performing loans (NPLs) to tot...Published: 24 Nov 2024 at 09:55hrs | 76 | by Staff reporter
Zimbabwe joins United Nations (UN) Water Convention, leading wave of countries in Southern Africa
Zimbabwe, a landlocked country in drought-stricken Southern Africa, has joined the UN Water Convention in a clear demonstration of political will for water cooperation across borders. Home to some 17 ...Published: 24 Jul 2024 at 12:55hrs | 256 | by APO
Zimbabwe fast-tracks progress on UN Water Convention accession, aiming to accrue multiple benefits
GENEVA, Switzerland - Zimbabwe, a landlocked country in Southern Africa, lies entirely within a total of five transboundary river basins (Buzi, Limpopo, Pungwe, Save and Zambezi) and one international...Published: 19 Jun 2024 at 15:23hrs | | by APO
Mozambique and Zimbabwe establish tri-basin institution to manage the Buzi, Pungwe, and save water resources
Harare, May 2023: The governments of Mozambique and Zimbabwe have established a tri-basin institution to manage the Buzi, Pungwe, and Save River Basins' water resources, which have, over the years, su...Published: 11 Jun 2023 at 19:21hrs | 1 | by Agencies
Zimbabwe manufacturing sector on rebound
The Reserve Bank of Zimbabwe (RBZ) says the country's manufacturing sector is on a massive expansion push after consuming roughly 70% of all foreign currency injected into the economy last year....Published: 02 Apr 2023 at 11:02hrs | | by Staff reporter
Parly shielding govt from legislative scrutiny, says Chamisa's MP
HATCLIFFE legislator Allan Markham says Parliament is protecting cabinet and the President from answering crucial questions, after Treasury for the fourth time failed to answer questions on the shareh...Published: 05 Mar 2023 at 13:58hrs | | by Staff reporter
Zimbabwe requests US$17m for Zambezi project
ZIMBABWE is set to make a US$17 million drawdown as part of an African Development Bank package for the Programme for Integrated Development and Climate Change in the Zambezi Basin (Pidacc Zambezi)....Published: 25 Feb 2023 at 07:09hrs | 10 | by Staff reporter
'RBZ risks litigation over rates'
THE Reserve Bank of Zimbabwe (RBZ) violated the in duplum rule by increasing the bank interest rate to 200% from 80% with indications that the market could be bracing for more economic shocks and liti...Published: 15 Jul 2022 at 09:12hrs | | 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 | | by Staff reporter
Mthuli Ncube told his tricks are not working
LEGISLATORS took Finance Minister Professor Mthuli Ncube to task in Parliament Wednesday, challenging him over the government's "failed" NDS-1 economic blue-print and the administration's apparent lac...Published: 16 Jun 2022 at 08:34hrs | 5 | by Staff reporter
Zimbabwe to lose out on loans
ZIMBABWE is set to miss out on a multi-million-dollar fund for countries sharing the Zambezi watercourse because of its external debt estimated at US$10,5 billion.The funds will be disbursed t...Published: 15 Oct 2021 at 20:20hrs | 4 | 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 | | by Staff reporter
Zimbabwe banks defy headwinds
ZIMBABWE'S banking sector posted a combined ZW$15,1 billion (US$176,2 million) net profit during the first half of the year, after riding out headwinds posed by the deadly Covid-19 pandemic, Reserve B...Published: 06 Aug 2021 at 07:53hrs | | by Staff reporter
Mthuli Ncube under fire over COVID-19 bailout loan
GOVERNMENT'S management of State coffers has come under scrutiny after Finance minister Mthuli Ncube guaranteed a $10 million loan by a Victoria Falls hotelier to cushion its business against COVID-19...Published: 17 Mar 2021 at 06:33hrs | 9 | by Staff reporter
RBZ to sell Fidelity Printers & Refinery
Reserve Bank of Zimbabwe has announced its intention to unbundle and dispose of part of its stake in Fidelity Printers and Refiners.According to a statement from RBZ governor John Mangudya, th...Published: 16 Dec 2020 at 15:09hrs | 2 | by Staff reporter
Mthuli Ncube crafts debt control plan
Government has formulated a framework for evaluating, monitoring and managing publicly guaranteed and on-lent loans as they contribute to significant debt accumulation in the event of default by the p...Published: 06 Dec 2020 at 07:41hrs | 1 | 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
Chamisa impoverishing MDC members on the altar of political correctness
A "RATIONAL economic" Zanu-PF has been masterminding massive wealth transfers to their enlightened members since 2000. The ruling party members are winning on the economic front by creating wealth whi...Published: 23 Nov 2020 at 19:58hrs | | by Brian Sedze
Zimbabe military clarifies NSSA role in Afreximbank loan
Africom wishes to state facts on the Africom Afreximbank loan of 15m after having noted that certain elements of the media continue to misrepresent the contents on the recently published Forensic Audi...Published: 14 Aug 2019 at 15:16hrs | | by Africom
ZACC boss says 'no-one above law' as husband sucked into NSSA scandal
Zimbabwe Anti-Corruption Commission (ZACC) boss Loice Matanda-Moyo said "no-one is above the law" after her husband Sibusiso Moyo was sucked into the National Social Security Authority (NSSA) corrupti...Published: 12 Aug 2019 at 19:06hrs | | by ZimLive
Zamco debt recovery at 23%
A SPECIAL purpose vehicle set to take up banks' accrued debts, the Zimbabwe Asset Management Company (Zamco), has so far recovered only 23,2% of the $1,13 billion toxic money, the minister of Finance ...Published: 05 Aug 2019 at 07:37hrs | | by Staff reporter
Zimbabwe inflation calculation deferred till 2020
ZIMBABWE has suspended calculation and publication of annual inflation rates until February next year to rebase consumer prices indices, after reintroducing local currency, to ensure that the data ref...Published: 02 Aug 2019 at 08:17hrs | 1 | by Staff reporter
Zimbabwe Treasury Bills auction begins
THE Reserve Bank of Zimbabwe (RBZ) is looking to raise $30 million to finance Government programmes through the issuance of Treasury Bills via an auction system. Treasury Bills (TBs) are...Published: 01 Aug 2019 at 09:18hrs | | by Staff reporter
Lancashire Steel ready to resume operations
KWEKWE-based company, Lancashire Steel, has received a US$2 million boost to purchase raw materials and indications are that formal operations may resume anytime soon. The company ceased opera...Published: 24 Jul 2019 at 08:11hrs | | by Staff reporter
Scrapping of multi-currency regime: The implications
ON Monday, the government announced major changes in the monetary policy of Zimbabwe, highlighted by the ending of a 10-year multi-currency system.Further measures announced include the intend...Published: 26 Jun 2019 at 07:32hrs | | by Respect Gwenzi
David Whitehead sale raises a stink
CONFLICT of interest and possible abuse of office concerns emerged this week after David Whitehead Textiles Ltd (DWTL) judicial manager Knowledge Hofisi sold a 51% equity stake in the textile company ...Published: 07 Jun 2019 at 07:26hrs | | by Staff reporter
RBZ warns over wild interest rates
The Reserve Bank of Zimbabwe (RBZ) has warned domestic banks against arbitrary hikes of lending rates and called for a fine balancing act in dealing with cost and inflationary pressures to avoid tippi...Published: 12 Apr 2019 at 07:28hrs | 2 | by Staff reporter
Zimdaba concludes on a 'successful note'
LONDON - Business forum, Zimdaba concluded its two-day conference on a very productive note, with high-profile business leaders and governmental officials conti...Published: 11 Apr 2019 at 09:11hrs | 6 | by Tidi Kwidini
Understanding the ZAMCO business model
There has been a lot of talk about the Zimbabwe Asset Management Company (Zamco) lately, particularly after the appearance of the Reserve Bank of Zimbabwe governor, John Mangudya, before the Parliamen...Published: 04 Apr 2019 at 07:02hrs | | by Vince Musewe
'Nduna's claims on US$2m Zamco facility false'
David Whitehead Limited has dismissed claims by Chegutu West Member of Parliament Dexter Nduna that the company was failing to account for a $2 million facility extended by the Reserve Bank of Zimbabw...Published: 25 Mar 2019 at 23:02hrs | 9 | by Staff reporter
National Blankets faces imminent liquidation
BULAWAYO-BASED textile maker National Blankets is facing imminent liquidation after failing to court a suitable investor to inject fresh capital into the ailing company.The company, which was ...Published: 19 Mar 2019 at 06:47hrs | | by Staff reporter
Tendai Biti's mischief exposed
The recent summoning of the Reserve Bank Governor, Dr John Mangudya, to appear before the Parliamentary Public Account Portfolio Committee (PAC) has exposed Tendai Biti, the Committee Chairman of usin...Published: 12 Mar 2019 at 22:29hrs | 1 | by Staff reporter
Mangudya's RBZ tenure coming to an end
AS the curtain comes down on Reserve Bank of Zimbabwe (RBZ) governor John Mangudya's five-year term of office, speculation has been rife on whether he will be handed another contract or not.Ma...Published: 10 Mar 2019 at 09:05hrs | | by Staff reporter
Name, shame loan defaulters, Biti demands
PARLIAMENT has demanded that Reserve Bank of Zimbabwe (RBZ) governor John Mangudya make public the schedule of beneficiaries whose loans were taken up by the Zimbabwe Asset Management Company (Zamco) ...Published: 05 Mar 2019 at 10:26hrs | | by Staff reporter
Mangudya to appear before Parly committee
The Reserve Bank Governor of Zimbabwe, Dr John Panonetsa Mangudya, is set to appear before the Parliament's Public Accounts Committee to explain several monetary issues as the august House resumes sit...Published: 04 Mar 2019 at 07:07hrs | 1 | by Staff reporter
Zimbabwe commercial bank deposits surge 25% to $8 billion
Commercial banks deposits rose by 25% to $8 billion in the first 10 months of last year, data from the central bank has shown.According to the Reserve Bank of Zimbabwe (RBZ)'s monthly review o...Published: 30 Jan 2019 at 08:05hrs | | by Staff reporter
Time to confront bloodsuckers wherever and whenever
THAT things could be on the verge of boiling over is not an overstatement, but for the "big boys" these are the best of times as they are making a killing.But it should be pointed out from the...Published: 11 Jan 2019 at 09:39hrs | | by Conway Tutani
MDC senator moves motion to probe ZC
SENATE this week moved a motion calling on the forensic investigation of alleged rampant corruption and maladministration at Zimbabwe Cricket (ZC) as pressure continues to mount on the country's crick...Published: 22 Dec 2018 at 19:10hrs | | by Staff reporter
Multi-million dollar theft of tax payer's money exposed
Whistleblower Prisca Mutema has exposed an alleged multi-million dollar theft of taxpayers money involving government paymaster Brighton Chiuzungo and Ngoni Masoka who served as the permanent Secretar...Published: 07 Dec 2018 at 10:29hrs | | by Mandla Ndlovu
Thumbs up for Mthuli Ncube
THE cost-cutting measures announced by Finance and Economic Development Minister Professor Mthuli Ncube are expected to restore confidence in the economy while also trimming budget deficit, analysts h...Published: 03 Dec 2018 at 06:47hrs | | by Staff reporter
Zimbabwe Treasury Bills rollover triggers market panic
FINANCE minister Mthuli Ncube's engagement with market players to explore options for restructuring the Treasury Bills (TBs) to longer tenure - effectively rollovers of maturities - and surging inflat...Published: 30 Nov 2018 at 09:48hrs | | by Staff reporter
Mthuli Ncube's budget: The good, bad and ugly
In September, while meeting fund managers in New York, Finance minister Mthuli Ncube said what the economy needed was a "big bang", a shock to the system. A week later, he brought that big bang; on th...Published: 26 Nov 2018 at 06:08hrs | 1 | by NewZWire
'Arrest Mangudya now for $1billion loot' whistleblower demands
Whistleblower Prisca Mutema has heightened her call for President Emerson Mnangagwa , Finance minister Mthuli Ncube and General Constantino Chiwenga to probe Reserve Bank Governor John Panonetsa Mangu...Published: 13 Nov 2018 at 12:00hrs | 6 | by Mandla Ndlovu
Mangudya's US$1 billion fraud exposed?
Whistle blower Prisca Mutema has alleged that embattled Central Bank Governor John Panonetsa Mangudya is involved in a US$1 billion fraud that saw him and his cronies benefiting from loans taken from ...Published: 06 Nov 2018 at 07:38hrs | 15 | by Mandla Ndlovu
Chiwenga's ex-wife looted millions
A whistleblower Prisca Mutema has claimed on microblogging site, Twitter, that Jocelyn Chiwenga who is Vice President Constantino Chiwenga's former wife looted millions from various banks and she has ...Published: 05 Nov 2018 at 09:46hrs | | by Mandla Ndlovu
Merlin squabbles stall progress
SQUABBLES between shareholders and judicial manager of struggling Bulawayo textile manufacturer, Merlin, are stalling the disbursement of a $5 million recapitalisation facility secured from the Zimbab...Published: 26 Oct 2018 at 06:54hrs | | by Staff reporter
Zamco gives grace period for bad loans
The Zimbabwe Asset Management Company (Zamco) will allow an eight-year moratorium on all restructured non-performing loans (NPLs) before the central bank's bad loans cleansing special purpose vehicle ...Published: 17 Sep 2018 at 06:43hrs | | by Staff reporter
Red flag over govt spending
Business leaders have expressed doubts that government's fiscal indiscipline will end any time soon, warning the persistent build-up in the imbalances will dampen Zimbabwe's economic prospects over th...Published: 19 Aug 2018 at 06:50hrs | 1 | by Staff reporter
Delma Lupepe not facing civil arrest, says Lawyers
PROMINENT businessman Mr Delma Lupepe is not facing arrest as insinuated by some media reports, his lawyers have said.In a statement through his personal legal representatives Messrs. Mashayam...Published: 20 Jun 2018 at 06:55hrs | | by Staff reporter
Ecobank to source more funds for critical imports
ECOBANK Zimbabwe, a unit of Togo-based Ecobank Transnational Inc, is arranging a $45 million line of credit to fund importation of critical raw materials, an official has said. Zimbabwe is grappling w...Published: 20 Jun 2018 at 06:46hrs | | by Staff reporter
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