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NRZ looting unearthed
AN internal audit has uncovered corporate governance rot, and looting at ailing parastatal National Railways of Zimbabwe (NRZ) with board chairperson Martin Dinha (pictured) and his board allegedly bl...Published: 24 Jun 2022 at 08:20hrs | 1808 | by Staff reporter
Zimbabwe state workers scoff at 100% raise, as inflation hits 132%
Zimbabwean public servants have rejected an offer for a 100% pay increase from the government of the Southern African nation where inflation surged to 132% last month. Workers "flatly rejected...Published: 19 Jun 2022 at 10:25hrs | 1123 | by Staff reporter
Mduduzi Mathuthu detained, charged with insulting Mnangagwa
On Monday, police in Bulawayo in southwest Zimbabwe detained Mduduzi Mathuthu, editor of privately owned news website ZimLive, and charged him with insulting or undermining the authority of President ...Published: 07 Jun 2022 at 06:19hrs | 6713 | by AJC
Blame game between govt, banks reaches tipping point
A NIGHT of long knives beckons for banks after Finance minister Mthuli Ncube accused them of driving the parallel market rate up, causing the sharp tumbling of the local currency.President Emm...Published: 23 May 2022 at 06:42hrs | 1316 | by Staff reporter
Mnangagwa guns for economic hitmen
PRESIDENT Emmerson Mnangagwa's administration has launched a massive clampdown on some big corporates suspected of conniving with local banks to borrow billions of Zimbabwean dollars which they used t...Published: 13 May 2022 at 19:14hrs | 393 | by Staff reporter
Foreign banks troop to Zimbabwe forex auction
UNITED States-based multinational investment outfit JP Morgan was among global lenders that repatriated a combined US$30 million through the Reserve Bank of Zimbabwe (RBZ)'s forex auction system by th...Published: 13 May 2022 at 19:10hrs | 690 | by Staff reporter
Bank lending freeze targets big corporates enjoying 'arbitrage profits'
HARARE - The Zimbabwe government is clamping down on big corporates which borrowed billions in Zimbabwean dollars and allegedly used the money for speculative activities.Authorities say the co...Published: 13 May 2022 at 14:50hrs | 1327 | by Staff Reporter
Raw deal for old passport applicants
ZIMBABWEANS, who paid passport fees in United States dollars before the introduction of the e-passport in December last year, are being grossly short-changed with the Central Registry Office reimbursi...Published: 06 May 2022 at 19:27hrs | 817 | by Staff reporter
'Mnangagwa will regret the day he appointed Mangudya, Mthuli Ncube,' says Biti
Former Zimbabwe Finance Minister Tendai Biti has said the move by the Reserve Bank to introduce a ZW$100 note is ill advised and a waste of time.Biti said the fact that the note can not buy an...Published: 09 Apr 2022 at 19:47hrs | 1974 | by Staff reporter
Mnangagwa crony made US$90m in dodgy RBZ deal
Kudakwashe Tagwirei, close adviser to Zimbabwean President Emmerson Mnangagwa, used some of the profits to buy gold mines and a platinum mine, according to a report published on Thursday by The Sentry...Published: 19 Mar 2022 at 07:19hrs | 664 | by Staff reporter
Renewed exodus of healthcare workers hits Zimbabwe
Earlier this year, Johnson Chegore, 33, resigned from his job as a nurse at a government hospital in the Zimbabwean capital Harare before he left for the UK.In Bulawayo, Zimbabwe's second-larg...Published: 23 Feb 2022 at 06:45hrs | 3054 | by Staff reporter
The Transfer of Title Deeds 101
WE have been discussing over the past few weeks' actions that a homeowner can take to help sell their property for the desired price. So you have done all these things, and now you have an offer...Published: 20 Feb 2022 at 08:53hrs | 450 | by Real Estate Issues, with Jonathan Thompson
Zimdollar fuel points to increase
The Government will increase service stations selling fuel in local currency as part of deliberate measures to make it affordable to many people, Senate heard yesterday.Energy and Power Develo...Published: 18 Feb 2022 at 05:31hrs | 318 | by Staff reporter
Gata divorces Mugabe's sister after 35 years of marriage
ZESA executive chairman Sydney Gata is divorcing his wife of 35 years after telling a court their marriage has "irretrievably broken down."Gata married Ntombana Regina Mugabe, a sister to the ...Published: 11 Feb 2022 at 16:43hrs | 2625 | by Staff reporter
Key expectations from upcoming monetary policy
The Reserve Bank of Zimbabwe (RBZ) is expected to present the first monetary policy statement of 2022 within the next 30 days amid rising inflationary pressures. The monetary policy comes after the de...Published: 19 Jan 2022 at 11:52hrs | 667 | by Victor Bhoroma
Counterfeit US Dollar notes traders arrested
TWO Harare women Memory Sanjanga (27) and Chesta Zvomunya appeared before a Harare magistrate Thursday on allegations of duping a local man of his ZW$300 000.The two were arraigned before Hara...Published: 31 Dec 2021 at 07:28hrs | 1227 | by Staff reporter
Zimra warns traders over US$ transactions
THE Zimbabwe Revenue Authority (Zimra) has warned traders and businesses against fabricating financial information on transactions done in foreign currency. Zimra implored those in violation o...Published: 24 Nov 2021 at 09:01hrs | 409 | by Staff Reporter
Student stabs classmate in 'gang war'
An 18-year-old student at Domboramwari High School in Epworth has appeared in court for allegedly stabbing his classmate in a suspected gang war.Allegations are that Honest Chitakunye, an Ordi...Published: 13 Nov 2021 at 07:51hrs | 18 | by Staff Reporter
'End Zimdollar fuel fraud'
Government has roped in the National Oil and Infrastructure Company (NOIC) to monitor the distribution of fuel imported under the Reserve Bank's foreign currency allocation facility to ensure oil firm...Published: 13 Nov 2021 at 05:55hrs | 64 | by Staff reporter
RBZ decries divided politics
RESERVE Bank of Zimbabwe (RBZ) has bemoaned polarisation and the negative impact of social media for derailing the central bank's efforts to stabilise the exchange rate.Addressing senior army ...Published: 08 Nov 2021 at 05:22hrs | 3 | by Staff reporter
RBZ warns rogue elements operating in black market
RESERVE Bank of Zimbabwe (RBZ) has warned rogue elements involved in illegal foreign exchange trading on the parallel market to desist from the destablising habit of disseminating messages that fuel l...Published: 04 Nov 2021 at 06:13hrs | 2 | by Staff reporter
Big Zimbabwean companies are fingered in forex fiddle
TOP executives and directors from up to 20 big companies face imminent arrest following a Reserve Bank of Zimbabwe (RBZ) investigation into massive multi-million-dollar fraud involving the country's f...Published: 08 Oct 2021 at 18:58hrs | 7 | by Staff reporter
Trust gets US$5million, collapses in 3 years
THE Marange-Zimunya Community Share Ownership Trust (MZCSOT) has collapsed only three years after the Zimbabwe Consolidated Diamonds Corporation (ZCDC) injected US$5 million to prop it, a Zimbabwe Ind...Published: 08 Oct 2021 at 18:58hrs | 4 | by Staff reporter
Police cash in on unlicensed vehicles
POLICE are making a killing from a recently launched operation to nab unlicensed vehicles, and those with fitted bar headlights, as well as touts.The issue was revealed in a recent police upda...Published: 01 Oct 2021 at 07:58hrs | | by Staff reporter
Robbers prey on mistrust of financial system
TARIRO remembers hearing a sudden bang on her kitchen door, the kind that produces shivers. She peaked through the window and saw 10 men armed with iron crowbars. They wanted to enter.The 54-y...Published: 24 Sep 2021 at 09:45hrs | | by Staff reporter
Biti caution govt over IMF windfall
ZIMBABWE'S former Finance ministers Herbert Murerwa and Tendai Biti have warned the government against using the recent US$961 million worth of special drawing rights (SDRs) from the International Mon...Published: 10 Sep 2021 at 07:39hrs | 3 | by Staff reporter
Pandemic jump-starts Zimbabwe online retail sales
Kenneth Mudzingwa has worked and studied in Turkey for five and a half years. To help his two siblings with groceries, the Zimbabwean citizen used a money transfer service that sometimes took days....Published: 03 Aug 2021 at 08:06hrs | 10 | by Staff reporter
'Mthuli Ncube, Mangudya refusing to cooperate with fuel cartels investigations'
Energy and Power Development deputy minister Magna Mudyiwa has told Parliament that the finance ministry and the Reserve Bank of Zimbabwe (RBZ) are refusing to release information that is critical in ...Published: 28 Jul 2021 at 08:58hrs | 3 | by Staff reporter
Fact-checking Biti's corruption speech
Opposition MDC Alliance vice president and former finance minister Tendai Biti gave an online speech on corruption in Zimbabwe on July 18, 2021.Here, we check key claims from Biti's address:...Published: 26 Jul 2021 at 19:35hrs | 1 | by Staff reporter
Zimbabwe's new $50 can't buy bread
LAST week, the Zimbabwean central bank introduced a $50 note, the country's highest denomination since a return to Zimbabwean dollars as the main currency in 2019.It joins other denominations ...Published: 13 Jul 2021 at 09:15hrs | 466 | by Staff reporter
Auction market cannot end the parallel market
Despite launching the Dutch inspired Foreign Currency Auction System (FCAS) in June 2020 (Almost 1 year running), the Zimbabwean economy continues to face acute foreign currency shortages on the forma...Published: 19 Jun 2021 at 08:52hrs | 8 | by Port Louis Riverfront, Mauritius
Govt to review pensioners' payouts upwards to US$60
PUBLIC Service, Labour and Social Welfare minister Paul Mavima yesterday revealed that pensioners' payouts would be reviewed upward to US$60 per month by December this year from the current US$25....Published: 05 Jun 2021 at 09:21hrs | 1 | by Staff reporter
Zimbabwe's breakneck inflation rate slows
ZIMBABWE'S breakneck inflation rate is slowing and that's prompting signs of normalcy in the local stock market.In the southern African nation's topsy-turvy markets, stocks have proved a haven...Published: 06 May 2021 at 19:25hrs | 2 | by Staff reporter
Zimbabwe maintains 7.4% growth target
Zimbabwe's Treasury is sticking to its economic growth estimate of 7.4%, even after the nation's president said the projection would have to be lowered.The forecast is achievable after the cou...Published: 20 Apr 2021 at 18:00hrs | 1 | by Staff reporter
Zimra slammed over non-disclosure of US dollar revenue
ECONOMIC experts have slammed the Zimbabwe Revenue Authority (Zimra) over the non-disclosure of foreign currency revenues in its earnings.This is despite the fact that government published Sta...Published: 17 Apr 2021 at 16:24hrs | 1 | by Staff reporter
US$ prices must come with US$ salaries, says MDC Alliance
THE main opposition MDC Alliance has blasted government for its decision to price passport fees in United States dollars at a time when workers in the country earn measly amounts in local currency....Published: 13 Apr 2021 at 06:41hrs | | by Staff reporter
Taming high inflation, economic priority
Despite the significant fall in annual inflation from 363% (In January) to 322% for the month of February 2021, prices for goods and services in the economy continue to increase marginally in every mo...Published: 09 Mar 2021 at 22:31hrs | 9 | by Victor Bhoroma
Biti wants government to fully dollarise
HARARE East legislator and former finance minister Tendai Biti has called on government to both accept the country's economy has dollarised by default and to liberalise the exchange rate following con...Published: 04 Mar 2021 at 06:22hrs | 4 | by Staff reporter
Plans to repeal crippling taxation on cards
THE Ministry of Mines and Mining Development is currently engaged in major discussions with fiscal and monetary authorities to address the issues of the punitive tax regime and surrender thresholds th...Published: 26 Feb 2021 at 06:55hrs | | by Staff reporter
Zimdollar to weaken after lockdown
DESPITE enjoying some illusory stability owing to depressed demand for foreign currency due to Covid-19 lockdowns, which reduced business activity, the Zimbabwe dollar remains volatile with high risks...Published: 19 Feb 2021 at 07:08hrs | 5 | by Staff reporter
Mandiwanzira confronts TIZ with $1m defamation suit over article
FORMER ICT minister and serving legislator Supa Mandiwanzira is demanding damages amounting to $1 million from Transparency International Zimbabwe (TIZ) over what he terms defamatory content against h...Published: 19 Feb 2021 at 06:52hrs | 6 | by Staff reporter
Rhodesian Model worked and it will work even better NOW
Zimbabwe needs to look at the model that worked and make it even better under sanctions. From the 1940 when the Rhodesian economy was booming the country had only one university and the focus of the t...Published: 06 Feb 2021 at 20:32hrs | 2 | by Engineer Jacob Kudzayi Mutisi
'Zimbabwe printing $1 billion weekly to buy gold'
FORMER legislator and Monetary Policy Committee member Eddie Cross has made sensational claims that the Reserve Bank of Zimbabwe (RBZ) was printing $1 billion weekly mainly to buy gold.At the ...Published: 21 Jan 2021 at 06:46hrs | 5 | by Staff reporter
Zimbabwe bank workers offered 349% pay hike
Zimbabwean bank workers have been offered a once-off 349% annual-pay increase by employers, falling far short of labor union demands and setting the stage for a potential legal challenge.The p...Published: 19 Jan 2021 at 16:13hrs | 5 | by Staff reporter
How to kill a country
Nearly forty years ago Ian Smith, the Prime Minister of Rhodesia, became the first and only white colonial ruler to break away from the British Crown. He had tired of London's nagging about the subjug...Published: 13 Jan 2021 at 16:49hrs | 13 | by Samantha Power
Zimbabwe journalists dogged by poor wages, harassment
Poor wages, a devalued currency, and intimidation are haunting journalists in the southern African country of Zimbabwe.With over a decade of experience as a freelance journalist under his belt...Published: 10 Jan 2021 at 18:24hrs | | by Staff reporter
The soft peg and local economic stability
Zimbabwe introduced the Dutch inspired foreign exchange auction system on the 23th of June to replace the fixed exchange rate (hard peg) of US$1: ZW$25 that had been in existence since 26 March 2020. ...Published: 08 Jan 2021 at 20:58hrs | | by Victor Bhoroma
Council splashes US$480k on chefs' cars
CHIREDZI Rural District Council (RDC) has pampered its six top executives with top-of-the-range Toyota Hilux GD-6 double-cab vehicles at a time service delivery has plunged to unprecedented levels....Published: 07 Jan 2021 at 08:23hrs | 6 | by Staff reporter
How South Africa can nudge Zimbabwe toward stability
What's new? As Zimbabwe's political and economic crises worsen, South Africa is moving beyond its policy of "quiet diplomacy" with its northern neighbour and applying more pressure on Harare to open...Published: 18 Dec 2020 at 06:42hrs | 6 | by crisisgroup
Water crisis ravages Bulawayo
Women carry the burden of collecting water for households...Published: 15 Dec 2020 at 07:48hrs | | by Brezhnev Malaba
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