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Zimbabwe economic meltdown deepens
SOME of Zimbabwe's largest companies have painted a grim picture of the country's socio-economic situation, reporting a sharp fall in revenues, as the relentless economic meltdown intensifies....Published: 13 Nov 2020 at 07:31hrs | 1670 | by Staff reporter
Companies urged to drill own boreholes
THE Zimbabwe National Chamber of Commerce (ZNCC) has urged companies to drill their own boreholes and stop solely relying on council water.The call was made after Bulawayo-based agro-processin...Published: 07 Nov 2020 at 05:57hrs | 297 | by Staff reporter
Mnangagwa warned
Businesses have issued a stern warning to the government to effectively deal with a "poisoned political environment" which has the potential to scare away investors.In its submissions for the ...Published: 29 Oct 2020 at 06:25hrs | 14382 | by Staff reporter
Red flag over inflation data
A PROFESSIONAL accountants' body has raised the red flag over factoring blended inflation data during the preparation of statements, saying firms pursuing this model risked distorting their organisati...Published: 21 Oct 2020 at 21:52hrs | 366 | by Staff reporter
'Push for US$100m IDC'
ZIMBABWE's industrial sector has appealed for a lifeline of up to Us$100 million to recapitalise the state-run Industrial Development Corporation (IDC) and bolster its capacity to bail out struggling ...Published: 16 Oct 2020 at 07:03hrs | 341 | by Staff reporter
Mthuli Ncube clarifies 2% tax
WHILE the objective of Intermediate Money Transfer Tax (IMTT) was to bring the previously untaxed informal businesses under the tax bracket, captains of industry claim it has had double taxation effec...Published: 16 Oct 2020 at 06:52hrs | 2990 | by Staff reporter
Zimbabwe industry demands complete reforms
ZIMBABWE'S industry has proposed a raft of far-reaching reforms to be incorporated in Finance minister Mthuli Ncube's 2021 national budget, including the abolishment of subsidies.In its propos...Published: 15 Oct 2020 at 06:42hrs | 405 | by Staff reporter
Zimdollar near flat at $81.44 against the US dollar
The local currency appreciated a marginal 0.06% as it firmed against the dollar in the latest auction. The Zimdollar now trades at 81.4439 against the dollar from 81.4965 attained last week.Th...Published: 29 Sep 2020 at 18:48hrs | 2842 | by Staff writer
'Zimbabwe political squabbling cripples business'
THE Zimbabwe National Chamber of Commerce (ZNCC) has called for political dialogue between President Emmerson Mnangagwa and MDC Alliance leader Nelson Chamisa, saying the standoff between the two main...Published: 11 Sep 2020 at 07:19hrs | 562 | by Staff reporter
Zimbabwe loses US$1 billion to smuggling annually
Smuggling, ineffective border controls and customs loopholes at Beitbridge Border Post might be costing Zimbabwe nearly a US$1 billion a year in unpaid customs duty, industry leaders and authorities c...Published: 15 Jul 2020 at 08:20hrs | 376 | by Staff reporter
Pessimism grips forex platform
Business wants more "transparency more than promises" on the foreign currency auction system for the platform to succeed as the parallel market continued unabated yesterday, a day after monetary autho...Published: 25 Jun 2020 at 16:36hrs | 2216 | by Staff reporter
ZAPU President Isaac Mabuka speaks
Q1: Thank you Mr. Mabuka for your time. Please introduce yourself to the people. Who is Mabuka?A: I am Isaac Mabuka. I was born in 1953 on 26 April in Gwanda South. I did my primary education ...Published: 24 Jun 2020 at 13:15hrs | 3314 | by Mandla Ndlovu
RBZ launches foreign exchange auction today
The Reserve Bank of Zimbabwe (RBZ)today replaces the interbank market with weekly foreign exchange auctions to determine the Zimbabwe dollar exchange rate with those in industry and commerce cautiousl...Published: 23 Jun 2020 at 07:47hrs | 1656 | by Staff reporter
Catastrophe looms in Zimbabwe, says SA's BusinessDay
As Zimbabwe enters the next phase of its coronavirus-induced lockdown - a partial but indefinite hold on economic activity - fears for the country’s economic future are rising.The economy wa...Published: 28 May 2020 at 20:45hrs | 3613 | by Chris Muronzi I BusinessDay
Fixed Exchange Rate: More harm than good
The Reserve Bank of Zimbabwe suspended the new managed floating exchange rate and introduced the fixed exchange rate of 1 US Dollar to 25 Zimbabwean Dollars on the 26th of March 2020. Two weeks earlie...Published: 25 May 2020 at 13:24hrs | 1764 | by Victor Bhoroma
'Money printing impact is worse than Covid-19'
THE Zimbabwe National Chamber of Commerce (ZNCC) has warned government against printing money to fund the ZW$18 billion Covid-19 Economic Recovery and Stimulus Package saying to do so will have a more...Published: 22 May 2020 at 07:25hrs | 1383 | by Staff reporter
Clampdown on forex dealers hits importers
IN the wake of the Reserve Bank of Zimbabwe (RBZ)'s latest swoop on several bureaux de change and closure of EcoCash agent facilities in a bid to tame currency volatility and illicit foreign currency ...Published: 15 May 2020 at 08:08hrs | 1487 | by Staff reporter
Small millers stop politics...people want mealie meal!
Goal 2 of the Sustainable Development Goals speaks to the need to End hunger, achieve food security and improved nutrition and promote sustainable agriculture. Goal 2 seeks sustainable solutions to en...Published: 01 May 2020 at 09:06hrs | 1127 | by Mxiolisi Mathonsi
Zimra set to miss revenue targets
ZIMBABWE'S distressed industries are struggling to pay taxes, amid widespread company closures and retrenchments owing to the raging coronavirus pandemic that has rattled the global economy.Th...Published: 26 Apr 2020 at 12:34hrs | 184 | by Staff reporter
Calls grow to reopen parts of Zimbabwe's crisis-ridden economy
A tall, medium build security guard stands behind a large steel gate at Boka Tobacco Auction Floors on the outskirts of Harare, his face partially covered by a white surgical mask and his hands encase...Published: 23 Apr 2020 at 19:46hrs | 2027 | by Al Jazeera
To extend or not to extend lockdown is the question
Government will determine the next course of action ahead of tomorrow's expiry of the 21-day lockdown period and the nation anxiously awaits the pronouncement of new ordinances to guide the fight agai...Published: 18 Apr 2020 at 07:54hrs | 574 | by Staff reporter
Lockdown to wipe out 25% of Zimbabwe jobs
ZIMBABWE should brace for massive economic dislocation as business leaders project that 25% of formal and 75% of informal jobs in the country will be lost as a result of Covid-19 amid calls by industr...Published: 17 Apr 2020 at 08:24hrs | 1640 | by Staff reporter
Bleak future beckons for businesses after lockdown
AS the 21-day lockdown continues with shops that sell non-essentials closed, there are concerns in the Gwanda business community that some of them might collapse while others might be left crippled. ...Published: 14 Apr 2020 at 07:16hrs | 390 | by Staff reporter
Zimbabwe businesses welcome US$ relaxation
The black market exchange rate for the United States dollar is likely to fall following the relaxation of the usage of free funds by the Reserve Bank of Zimbabwe (RBZ) on Thursday. Business le...Published: 28 Mar 2020 at 07:35hrs | 499 | by Staff reporter
lllegitimate Regime's corrupt forex allocation, and policy inconsistencies responsible for perpetual fuel problems
The Movement for Democratic Change (MDC) has said it is increasingly concerned by the never-ending propensity by the ZANU(PF) regime for corrupt tendencies in foreign currency allocations; as well as ...Published: 16 Mar 2020 at 07:17hrs | 345 | by Stephen Jakes
Electricity supplies improve countrywide
THE country's electricity supply has improved in the past few weeks with consumers confirming the reduction in the power outages. While complaining about what they view as "steep" charges, fol...Published: 04 Mar 2020 at 07:54hrs | 983 | by Staff reporter
'Tell Mnangagwa the truth about economy'
PARLIAMENTARIANS have called on economic stakeholders to be honest when meeting President Emmerson Mnangagwa over the deteriorating state of the economy blamed on the unusual growth in the money suppl...Published: 03 Mar 2020 at 07:34hrs | 762 | by Staff reporter
94% exhibition space taken at Trade Fair
THE Zimbabwe International Trade Fair (ZITF) Company has sold 94 percent of its exhibition space, as preparations for this year's edition of the trade showcase gather momentum, an official has said....Published: 01 Mar 2020 at 07:56hrs | 789 | by Staff Reporter
Mnangagwa's govt urged investigate milling industry
Government should interrogate the structure of the milling industry, including the subsidy model, to prevent the leakage of roller meal that is in short supply. The subsidy was introduced in December ...Published: 28 Jan 2020 at 12:32hrs | 143 | by Staff reporter
Polad economic summit on the cards
POLITICAL leaders under the banner, Political Actors Dialogue (Polad) have set plans to engage various business and industry sector players to come up with economic reforms that will be key in revivin...Published: 19 Jan 2020 at 05:40hrs | 238 | by Staff reporter
Energy challenges sinking Zimbabwe's economy
The 2019 survey report by the Zimbabwe National Chamber of Commerce (ZNCC) on the impact of energy challenges on business paints a grim picture of the state of production in the economy. Unrelenting p...Published: 17 Dec 2019 at 07:08hrs | 796 | by Victor Bhoroma
$110m new notes, coins in circulation
So far, $110 million in new notes and coins have been "drip-fed" into the banking system since their introduction last month. While addressing business stakeholders at the Zimbabwe National Ch...Published: 10 Dec 2019 at 06:43hrs | 506 | by Staff reporter
Mnangagwa wants business to help build economy
PRIVATE businesses are critical in growing Zimbabwe's economy and should exploit Government moves to improve infrastructure and make doing business easier by playing their part in the attainment of an...Published: 06 Dec 2019 at 07:14hrs | 219 | by Staff reporter
Business Executives can change the political fortunes
Now that the President of Zimbabwe has reshuffled the cabinet. There is a lot of hullabaloo who should have been included, but the truth of the matter is, he can only choose and work with the crop of ...Published: 13 Nov 2019 at 10:31hrs | 1313 | by Jacob Kudzayi Mutisi
Mnangagwa to headline economic indaba
President Mnangagwa headlines an economic and financial indaba in Harare on Thursday, which is set to deliberate on solutions to the country's economic challenges, including foreign currency shortages...Published: 05 Nov 2019 at 06:43hrs | 270 | by Staff reporter
'Cash injection to end bank queues'
THE move by the Reserve Bank of Zimbabwe (RBZ) to inject $1 billion new notes and coins by mid this month will ease cash shortages, economists have said. Bank queues had become a norm in Zimba...Published: 04 Nov 2019 at 05:54hrs | 943 | by Staff reporter
BCC faces lawsuits over US$ contracts
THE Bulawayo City Council (BCC) says it is being sued by several companies for failing to pay them in United States dollars as per contractual agreements.BCC concluded a number of contracts wi...Published: 26 Oct 2019 at 07:37hrs | 381 | by Staff reporter
Harare blows millions on bloated trips
THE cash-strapped Harare City Council (HCC) has splurged ZW$1,6 million and US$69 000 on local and foreign travel at a time it is battling to provide treated water and other essential services to resi...Published: 18 Oct 2019 at 05:23hrs | 142 | by Staff reporter
Zimbabwe ready to ride on AfCFTA opportunities
Foreign Affairs ministry secretary James Manzou has told Parliament that Zimbabwe is geared to take advantage of the opportunities to be brought about by the African Continental Free Trade Area (AfCFT...Published: 10 Oct 2019 at 06:49hrs | 121 | by Staff reporter
Business decries fuel price hikes
THE Zimbabwe National Chamber of Commerce (ZNCC) has expressed concern over continuous fuel price increases saying the trend was negatively impacting on production due to rising cost of goods and serv...Published: 09 Oct 2019 at 06:56hrs | 881 | by Staff reporter
Mthuli Ncube told to scrap 2% tax
CAPTAINS of industry and commerce yesterday asked Treasury to scrap or lower the controversial 2% intermediated money transfer tax (IMTT) imposed last year by Finance minister Mthuli Ncube, saying it ...Published: 08 Oct 2019 at 13:45hrs | 4403 | by Staff reporter
Industrialists welcome rogue accounts freeze
THE decision by the Reserve Bank of Zimbabwe (RBZ) to freeze accounts of companies suspected to have been involved in the manipulation of the local currency last week, has been hailed as a bold move b...Published: 25 Sep 2019 at 06:30hrs | 554 | by Staff reporter
Competition and Tariff Commission under fire
The Competition and Tariff commission has once again come under the spotlight as prices sky rocket. While it is said that the Competition and Tariff Commission is not legally mandated to deal with pri...Published: 17 Sep 2019 at 12:07hrs | 1063 | by Nicholas Ncube
Tsvangirai destroyed the ZCTU
Those who have meticulously followed developments on the country's labour landscape since the turn of the millennium will, no doubt, concur with me that Morgan Tsvangirai (may his departed soul rest i...Published: 05 Sep 2019 at 08:03hrs | 413 | by Cuthbert Mavheko
Policies to promote business linkages now in place: Ndlovu
GOVERNMENT says it has put in place policies and strategies to promote backward and forward linkages within the business supply chain.Industry and Commerce minister Nqobizitha Mangaliso Ndlovu...Published: 29 Aug 2019 at 07:39hrs | 485 | by Staff reporter
Zimbabwe govt working on power imports for industry
GOVERNMENT is negotiating with South Africa and Mozambique for electricity imports dedicated to power industry, currently reeling from the ongoing load-shedding lasting up to 18 hours a day."C...Published: 30 Jul 2019 at 07:29hrs | 601 | by Staff reporter
Zimbabwe industry okays power tariff hike
The private sector has said it is ready to pay a cost reflective power tariff of up to US$0,14 per kilowatt-hour to guarantee constant supply of electricity in the country. Zimbabwe Nati...Published: 30 Jul 2019 at 07:25hrs | 1275 | by Staff reporter
It's time to revive the Affirmative Action Group
The Affirmative Action Group AAG was a powerful entity which made a huge difference in the business sector. AAG was a successful pressure group which contributed immensely to the growth of several bla...Published: 15 Jul 2019 at 08:50hrs | 1045 | by Nicholas Ncube
Business community must take a leading role in Economic Transformation
We have energy problems, we have political disputes, we have shortage inflation at hand and it is the duty and obligation of the business community to take a leading role in fostering the national dev...Published: 01 Jul 2019 at 19:04hrs | 701 | by Tinashe Eric Muzamhindo
Mnangagwa's speech hit by load shedding
PRESIDENT Emmerson Mnangagwa Thursday came face to face with reality after he was forced to temporarily stop engaging captains of industry at the Zimbabwe National Chamber of Commerce (ZNCC) conferenc...Published: 29 Jun 2019 at 16:42hrs | 2057 | by newzimbabwe
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