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ZESA singlehandedly destroying Zimbabwe: The shocking truth behind the power crisis
In Zimbabwe, there is a harsh reality that every citizen faces: power outages, or "load shedding," are an almost daily occurrence. Power cuts, sometimes lasting up to 18 hours, have become the...Published: 12 Nov 2024 at 21:07hrs | 3567 | by Tendai Ruben Mbofana
Zimbabwe's new policy outlines plans to widen tax base
The Zimbabwean government has announced a new policy under the Zimbabwe Industrial Reconstruction and Growth Plan (ZIRGP) to simplify tax models for Small to Medium Enterprises (SMEs). This move aims ...Published: 27 Oct 2024 at 12:18hrs | 264 | by Staff reporter
The power crisis farce: Unpacking Mnangagwa's broken promise to Zimbabwe
Zimbabwe's power crisis has been a perennial problem, plaguing the country for decades.In August 2023, President Emmerson Dambudzo Mnangagwa proudly declared that the commissioning of the new ...Published: 08 Oct 2024 at 17:30hrs | 512 | by Tendai Ruben Mbofana
Zimra launches crackdown on economic saboteurs
The Zimbabwe Revenue Authority (ZIMRA) has launched a nationwide blitz targeting businesses that evade taxes and undermine the local currency, the Zimbabwe Gold (ZiG), by either rejecting it or falsel...Published: 27 Sep 2024 at 08:16hrs | 142 | by Staff reporter
Stanbic Bank named national winners for supporting Micro, SMEs in Zimbabwe
Leading financial services institution, Stanbic Bank has been named National Winner for supporting micro, small to medium enterprises in Zimbabwe by the Zimbabwe National Chamber of Commerce (ZNCC)....Published: 12 Jul 2024 at 10:35hrs | 122 | by Staff Reporter
Zimbabwe power crisis grounds industries
In Zimbabwe, recent rolling blackouts have severely impacted key industries, raising concerns about potential economic downturns and job losses. Kurai Matsheza, president of the Confederation of Zimba...Published: 30 Jun 2024 at 18:32hrs | 1 | by Staff reporter
ZiG performance pleases RBZ, private sector leaders
Private sector leaders and the Reserve Bank of Zimbabwe (RBZ) have praised the performance of Zimbabwe's structured currency, the Zimbabwe Gold (ZiG), citing its stability and positive impact on price...Published: 28 Jun 2024 at 07:39hrs | 2 | by Staff reporter
Bulawayo firms shine at ZNCC awards
At the Zimbabwe National Chamber of Commerce (ZNCC) 2024 Matebeleland Annual Business Awards, Mr. George Kudya of Star Distributors emerged as the star of the night, winning both the Overall Winner an...Published: 09 Jun 2024 at 09:07hrs | 11 | by Staff reporter
'Zimbabweans will stampede for ZiG by June'
Reserve Bank of Zimbabwe (RBZ) Governor, Dr. John Mushayavanhu has highlighted the impending surge in demand for the Zimbabwean dollar (ZiG) anticipated to occur by June. This surge is expecte...Published: 18 May 2024 at 11:47hrs | 70 | by Staff reporter
Zimbabwe central bank governor gets a rude awakening
BUSINESS executives yesterday gave Reserve Bank of Zimbabwe (RBZ) governor John Mushayavanhu a rude awakening after a snap survey which showed that they were not ready to support the new currency....Published: 12 Apr 2024 at 09:49hrs | 43 | by Staff reporter
Zimdollar remains legal tender until month-end
The Zimbabwe dollar remains legal tender for all domestic transactions until April 30, when the Zimbabwe Gold (ZiG) notes and coins will come into circulation, the Reserve Bank of Zimbabwe (RBZ) has s...Published: 10 Apr 2024 at 06:02hrs | 1 | by Staff reporter
Kenya's William Ruto to open ZITF
KENYAN President Dr William Ruto will officially open the 64th edition of the Zimbabwe International Trade Fair next month with 25 international exhibitors from 21 countries confirming their participa...Published: 27 Mar 2024 at 06:36hrs | 1 | by Staff reporter
Zidera is the primary obstacle Zimbabwe's economic progress
INDUSTRY leaders have pleaded for the total removal of the sanctions programme under the Zimbabwe Democracy and Economic Recovery Act (Zidera), citing them as the primary obstacle to the economic prog...Published: 06 Mar 2024 at 20:54hrs | 1 | by Staff reporter
'Bulawayo 80% forex rates illegal'
GOVERNMENT has said the decision by the Bulawayo City Council to force residents and businesses to pay 80 percent of rates strictly in foreign currency is illegal and ordered the local authority to re...Published: 20 Feb 2024 at 05:04hrs | 1 | by Staff reporter
Bulawayo set for major transformation
BULAWAYO is experiencing a renaissance as investor interest is surging, reindustrialisation efforts taking root and multi-million dollar projects underway, signalling a promising future for the city....Published: 18 Feb 2024 at 09:00hrs | 5 | by Staff reporter
Power cuts costing Zimbabwe US$1,2 billion
THE World Bank has urged the government to address the country's energy deficit after estimating that power cuts are costing the economy at least US$1,27 billion annually.In its fourth Zimbabw...Published: 14 Dec 2023 at 12:37hrs | 1 | by Staff reporter
Professor Ncube readies Zimbabwe's budget
AS Finance, Economic Development and Investment Promotion Minister, Professor Mthuli Ncube, readies to present the 2024 National Budget tomorrow, expectations are high that it will consolidate prevail...Published: 29 Nov 2023 at 05:08hrs | 10 | by Staff reporter
'Zimbabwe has a leadership crisis'
ALPHA Media Holdings (AMH) chairman Trevor Ncube says Zimbabwe has a leadership crisis with the people who are supposed to drive and make a huge impact on the economy having abdicated responsibility....Published: 23 Nov 2023 at 05:37hrs | 1 | by Staff reporter
'Zimbabwe's hastened currency shift won't end lending crisis'
Economists suggest that the recent issuance of a Statutory Instrument (SI) extending the use of multiple currencies in Zimbabwe until 2030 may have revealed the extent of President Emmerson Mnangagwa'...Published: 03 Nov 2023 at 14:55hrs | 7 | by Staff reporter
UN tells Zimbabwe to make changes to attract FDI
The United Nations (UN) has urged Zimbabwe to implement necessary changes to attract foreign direct investment (FDI) as global foreign assistance diminishes, moving away from quiet diplomacy. This adv...Published: 12 Oct 2023 at 06:41hrs | | by Staff reporter
Please tell Mnangagwa our meat is rotting!
On Thursday, 3rd August 2023, President Emmerson Dambudzo Mnangagwa commissioned the new Hwange Thermal Power Station Units 7 and 8.Amidst the pomp and fanfare, Mnangagwa proudly and confident...Published: 02 Oct 2023 at 07:46hrs | 1 | by Tendai Ruben Mbofana
Bulawayo hotels, lodges fully booked ahead of Sanganai/Hlanganani Expo
Many of the major hotels and lodges in Bulawayo are fully booked ahead of the upcoming Sanganai/Hlanganani World Tourism Expo, scheduled to take place from October 12 to 14. This annual event showcase...Published: 01 Oct 2023 at 07:34hrs | 2 | by Staff reporter
Zimbabwe targeting Zimdollar return in 5 years
Zimbabwe will continue to put in place measures to entrench the use of the domestic currency because having its own currency forms the basis for sustainable economic growth and development, President ...Published: 06 Sep 2023 at 19:09hrs | 1 | by Staff reporter
Bulawayo's late unsung hero
DEATH has robbed Bulawayo of one of its finest sons Bulisani Ncube who passed away on June 3 afternoon at Mpilo Hospital.Chris Raymond posits that as much as good men may die, death cannot kil...Published: 07 Jul 2023 at 07:41hrs | 2 | by Edwin Ndlovu
ZNCC calls for review of Customs and Excise Act
THE Zimbabwe National Chamber of Commerce (ZNCC) has called on government to review the Customs and Excise Act, saying the law is now outdated and no longer addressing critical issues."For the...Published: 30 Jun 2023 at 14:31hrs | 2 | by Staff reporter
Zimbabwe industry applauds improved power situation
THE business community has started feeling the positive impact of improved power generation in the country, expressing hope that the situation will continue to stabilise, thereby guaranteeing enhanced...Published: 26 Jun 2023 at 06:46hrs | 9 | by Staff reporter
4 rogue firms' accounts frozen
BANK accounts belonging to four major basic commodity distributors have been frozen for suspected economic sabotage, while unscrupulous manufacturers and pharmaceutical companies also face the same co...Published: 28 May 2023 at 07:59hrs | 1 | by Staff reporter
Mnangagwa's govt to investigate the latest spate of basic commodity price hikes
A CABINET committee has been set up to investigate the latest spate of basic commodity price increases as Government moves to ensure corrective measures are taken to protect consumers. The int...Published: 10 May 2023 at 05:57hrs | 5 | by Staff reporter
ZITF roars to life
THE 63rd edition of the premium trade exhibition — the Zimbabwe International Trade Fair — kicks off in Bulawayo today amid high optimism that the platform will strengthen existing business linkag...Published: 26 Apr 2023 at 06:25hrs | 2 | by Staff reporter
'Black market rates to fall,' dreams RBZ
THE Reserve Bank of Zimbabwe (RBZ) is set to introduce a gold-backed digital currency to be used as legal tender for transacting in the country as part of interventions to stabilise the local currency...Published: 23 Apr 2023 at 07:48hrs | 1 | by Staff reporter
Beitbridge woman builds successful business empire
ONLY yesterday, Beitbridge-based businesswoman, Dr Anna Muleya (50) operated a barbershop in the border town.Today, she is a multi-award-winning successful businesswoman with a thriving busine...Published: 08 Mar 2023 at 05:29hrs | 2 | by Staff reporter
'Power cuts to wipe out US$4bn'
ROLLING blackouts, which have deepened in the past few months, could cost the economy close to US$5 billion this year, industrialists told the Zimbabwe Independent.They said many companies had...Published: 03 Mar 2023 at 18:23hrs | 1 | by Staff reporter
Zimbabwe records US$328mln in FDI
ZIMBABWE recorded USS327,9 million in foreign direct investment last year, an increase from USS237,5 million recorded in 2021. Despite the strong growth, analysts say the investment inflows re...Published: 12 Feb 2023 at 07:20hrs | 1 | by Staff reporter
Business community slams BCC forex conversions
THE Zimbabwe National Chamber of Commerce and the Confederation of Zimbabwe Industries have accused the Bulawayo City Council of using a wrong formula to convert the 2022 and this year's tariffs to Un...Published: 13 Jan 2023 at 05:47hrs | 1 | by Staff reporter
Zimbabwe business mulls night-shift, weekend operations
INDUSTRY representative bodies are considering adopting night and weekend shifts as a short-term strategy to mitigate the adverse impact of crippling power cuts while ensuring steady production....Published: 14 Dec 2022 at 06:31hrs | | by Staff reporter
Top Belarus official jets into Zimbabwe
BELARUSIAN Deputy Prime Minister, Mr Piotr Parkhomchik, arrived in Zimbabwe yesterday and is expected to hold bilateral meetings with various ministries as the two countries seek to deepen their long ...Published: 10 Oct 2022 at 06:05hrs | 8 | by Staff reporter
'Half of Zimbabwe youths loafing'
ABOUT half of Zimbabwean youths are loafing, the latest Zimbabwe National Statistics Agency (ZimStat) 2022 second quarter labour force survey has revealed, laying bare the job crisis facing the countr...Published: 04 Oct 2022 at 06:10hrs | 11 | by Staff reporter
Sanctions increase cost of doing business in Zimbabwe
ILLEGAL sanctions imposed on Zimbabwe by the West hamper the free movement of funds across international borders, and therefore can raise the cost of doing business, or at least make investors worry a...Published: 03 Oct 2022 at 06:06hrs | 1 | by Staff reporter
'No easy road to recovery for Zimbabwe'
THE Zimbabwe National Chamber of Commerce (ZNCC) warned on Thursday that there would be no quick fix to the myriad of economic challenges afflicting the country.Zimbabwe is in the throes of an...Published: 30 Sep 2022 at 06:10hrs | 2 | by Staff reporter
SA blackouts bleed Zimbabwe industry
ZIMBABWEAN industries, already battered by a long running economic crisis, have been thrown off balance by rolling blackouts in South Africa, which escalated this week, briefly grounding trade....Published: 23 Sep 2022 at 19:24hrs | 1 | by Staff reporter
Concern over reluctance to reduce prices
THE Parliamentary committee on Industry and Commerce has expressed concern over the reluctance by the business sector to reduce prices of goods and services in line with sustained and continued reduct...Published: 16 Sep 2022 at 06:04hrs | 1 | by Staff reporter
Parking fees too high for Bulawayo'
BULAWAYO businesses and residents associations have insisted that fees under the new parking system implemented by the Bulawayo City Council (BCC) in partnership with the privately-owned company Tendy...Published: 07 Sep 2022 at 06:40hrs | 4 | by Staff reporter
Zimbabwe black market rates tumble
A raft of robust economic measures put forward by President Mnangagwa and his administration have proved to have a stabilising effect on the national economy as they managed to arrest the parallel mar...Published: 21 Aug 2022 at 08:43hrs | | by Staff reporter
Falling fuel prices ease pressure on consumers
The sustained drop in fuel prices, which saw prices being reviewed downwards twice over a two-week period this month owing to falling international crude ...Published: 31 Jul 2022 at 07:08hrs | 1 | by Staff Reporter
Zimbabwe secures 300MW
ZESA Holdings has secured a 300 megawatt (MW) power import deal with regional suppliers as the energy crisis threatens to cripple industry and domestic consumers, confidential documents show.T...Published: 22 Jul 2022 at 10:43hrs | 5 | by Staff reporter
Interbank rate now sole legal rate, huge penalties for breaches
The interbank exchange rate has been set as the sole exchange rate to be used in commercial and other transactions and anyone selling goods and services, who uses any other rate faces a minimum civil ...Published: 29 Jun 2022 at 07:42hrs | | by Staff reporter
Highlanders win ZNCC award
HIGHLANDERS were honoured with a Zimbabwe National Chamber of Commerce (ZNCC) Matabeleland Chapter Lifetime Achievement award presented to board member Methuseli Mafu at a Bulawayo hotel on Friday...Published: 14 Jun 2022 at 06:40hrs | 3 | by Staff reporter
'The Reserve Bank of Zimbabwe is not creating money'
The Sunday Mail Editor Victoria Ruzvidzo (VR) had a no-holds-barred interview with RBZ Governor Dr John Mangudya (JM) on the latest developments in the economy, among them suspension of bank lending, ...Published: 05 Jun 2022 at 09:00hrs | 1 | by Staff reporter
Bulawayo reindustrialisation ongoing
The Zimbabwe Investment and Development Agency (ZIDA) has licensed three companies under the Special Economic Zones (SEZs) initiative in Bulawayo but there are growing concerns implementation is movin...Published: 22 May 2022 at 08:27hrs | | by Staff reporter
'Zimbabwe Reserve Bank is not creating money'
The Sunday Mail Editor Victoria Ruzvidzo (VR) had a no-holds-barred interview with RBZ Governor Dr John Mangudya (JM) on the latest developments in the economy, among them suspension of bank lending, ...Published: 22 May 2022 at 08:26hrs | 10 | by Staff reporter
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