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75% of Bulawayo's industrial plants idle
THE battle to reposition Bulawayo as the heartbeat of Zimbabwe's industries appears to be hitting a brick wall.Just when national manufacturing output is reportedly rising, Bulawayo's industri...Published: 21 Mar 2021 at 08:36hrs | 296 | by Staff reporter
Ex-RBZ advisors under fire
THE Zimbabwe National Chamber of Commerce (ZNCC) has slammed the Reserve Bank of Zimbabwe (RBZ)'s "underachieving" outgoing monetary policy committee (MPC) saying it lacked depth and expertise to driv...Published: 05 Mar 2021 at 06:57hrs | 1869 | by Staff reporter
Power cut closes Bulawayo businesses
BUSINESSES in Bulawayo are counting losses following a five-day blackout in parts of the city centre due to an electrical fault at a Zesa substation in Belmont industrial area. The fault has a...Published: 05 Mar 2021 at 06:20hrs | 312 | by Staff reporter
Govt should treat every business as essential
THE Zimbabwe National Chamber of Commerce (ZNCC) has said there is no business entity within the country which can be considered non-essential, arguing the economy operates as an ecosystem.The...Published: 13 Feb 2021 at 10:27hrs | 228 | by Staff reporter
Mthuli Ncube sticks to 7,4% growth
GOVERNMENT remains bullish about a positive economic performance in 2021 where it has projected a 7,4% gross domestic product (GDP) growth despite the negative effects of the Covid-19 pandemic, accord...Published: 05 Feb 2021 at 06:49hrs | 586 | by Staff reporter
Zambia bans haulage trucks from crossing Victoria Falls Border Post
Zambia has announced restrictions on exports which will see commercial trucks being banned from using the Victoria Falls Border Post with effect from the first of March, amid an outcry from citizens w...Published: 03 Feb 2021 at 20:25hrs | 3617 | by Staff reporter
Proudly made in Zimbabwe
The advent of globalization has demonstrated that each country has expertise in a certain trade and there are commodities that resonate with certain countries more than others. It is often argued that...Published: 02 Feb 2021 at 00:25hrs | 2168 | by Victor Bhoroma
Zimbabwe in key post-Brexit UK investment indaba
Zimbabwe's engagement and re-engagement drive continues to bear fruit after the United Kingdom invited local businesses to participate in next week's Africa Investment Conference along with companies ...Published: 15 Jan 2021 at 07:28hrs | 387 | by Staff reporter
Mugabe dies of COVID-19
Well-known Bulawayo tycoon Worthwhile Mugabe has died.He died of Covid-19 in Harare.Mugabe was DSK Holdings managing director.Mr Mugabe was Worthwhile Investments founder....Published: 01 Jan 2021 at 08:06hrs | 11560 | by Staff reporter
Zimbabweans see gloomy 2021
ZIMBABWEANS are not enthused about the New Year, 2021, and see no improvement in the social, economic and political problems that bedevilled the country throughout 2020.Most people entered January...Published: 01 Jan 2021 at 07:45hrs | 335 | by Staff reporter
Economic growth stimulus precedes taxation
Zimbabwe's 2021 national budget paints a picture of sustained austerity in the mid-term, with increases in taxes for various sectors of the depressed economy. A 126% jump in budgeted tax revenue colle...Published: 22 Dec 2020 at 19:28hrs | 381 | by Victor Bhoroma
RBZ clarifies use of USD
RESERVE Bank of Zimbabwe (RBZ) Governor Dr John Mangudya has explained the use of US dollars in the country, including value and legal status of the virtual form of the greenback. This comes a...Published: 22 Dec 2020 at 06:40hrs | 554 | by Staff reporter
Mangudya threatens to freeze businesses' bank accounts
RESERVE Bank of Zimbabwe (RBZ) governor John Mangudya has threatened to freeze the bank accounts of businesses which are taking advantage of the lower forex auction rate to make exchange gains through...Published: 21 Dec 2020 at 06:38hrs | 1294 | by Kennedy Kaitano
RBZ to crack whip on auction abusers
THE Reserve Bank of Zimbabwe (RBZ) says it will request the Financial Intelligence Unit (FIU) to close bank accounts of business entities that are pricing using exchange rates not linked to the ruling...Published: 21 Dec 2020 at 06:14hrs | 177 | by Staff reporter
CCZ bemoans price increases
THE Consumer Council of Zimbabwe (CCZ) has bemoaned the steady increase in prices, saying the trend defies the economic environment in the country.Rose Mpofu, the CCZ deputy director, said bus...Published: 20 Dec 2020 at 07:03hrs | 276 | by Staff reporter
Forex earnings inch closer to US$6 billion
The economy has been resilient for much of the year, with key macroeconomic fundamentals reflecting strong performance in the January to November period despite the fallout from the coronavirus, Reser...Published: 20 Dec 2020 at 06:40hrs | 139 | by Staff reporter
Minister admits to policy inconsistency
INDUSTRY and Commerce minister Sekai Nzenza has admitted that inconsistent and often outdated policies hinder implementation of key government strategies.Nzenza was responding to Norton legisl...Published: 19 Dec 2020 at 05:51hrs | 461 | by Staff reporter
Mangudya slams Ncube tariff increases
RESERVE Bank of Zimbabwe (RBZ) governor John Mangudya has launched a rare scathing attack on the government for steeply increasing tariffs for public utilities, warning the decision will have serious ...Published: 18 Dec 2020 at 06:21hrs | 5342 | by Staff reporter
'Zimbabwe crisis presents immense opportunities'
IT has been an eventful year for Tendo Electronics MD and recent winner of the director of the year award at this year's edition of the Megafest awards, Mike Kamungeremu (MK).The firm, which s...Published: 13 Dec 2020 at 08:10hrs | 244 | by Staff reporter
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 | 1687 | 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 | 307 | 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 | 14419 | 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 | 373 | 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 | 353 | 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 | 3031 | 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 | 417 | 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 | 2879 | 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 | 566 | 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 | 378 | 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 | 2218 | 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 | 3469 | 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 | 1658 | 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 | 3616 | 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 | 1765 | 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 | 1386 | 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 | 1495 | 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 | 1131 | 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 | 2028 | 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 | 576 | 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 | 1664 | 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 | 391 | 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 | 501 | 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 | 347 | 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 | 984 | 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 | 763 | 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 | 790 | 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 | 239 | 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 | 797 | by Victor Bhoroma
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