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Mnangagwa's govt, civil servants headed for clash
GOVERNMENT and its workers are headed for a showdown amid revelations the civils servants were demanding United States dollar-denominated salaries post the Covid-19 pandemic.In the past, the g...Published: 20 hrs ago | 917 | by Staff reporter
Zimbabwe parallel market rates nosedive
THE value of the United States dollar against the Zimbabwe dollar on the parallel market has nosedived due to a drop in demand, economists have said.The depreciation comes hardly a week after ...Published: 30 Mar 2020 at 18:58hrs | 7793 | by Staff reporter
RBZ takes MDC advice on redollarization but....
At long last it has happened. The RBZ has finally announced in its 26th March Monetary Policy an...Published: 27 Mar 2020 at 09:30hrs | 4229 | by Dr Tapiwa Maji-Marefu Mashakada Economist and MDC Secretary for Policy and Research
Company challenges USD-Zimdollar ruling
THE legal validity of a Supreme Court judgment which converted United States dollar debts to the Zimdollar at a rate of 1:1 in line with Statutory Instrument 33 of 2019, must be tested by a nine-judge...Published: 25 Mar 2020 at 05:45hrs | 1168 | by Staff reporter
'No going back on land reform, Zimdollar'
President Mnangagwa on Wednesday stressed that land reform was irreversible and the Government would not substitute the local currency - the Zimbabwe dollar - despite machinations to destabilise and d...Published: 20 Mar 2020 at 20:36hrs | 350 | by Staff reporter
Zim$ depreciates 27.28% as Reuters goes live
The Reuters foreign currency trading platform went live today, marking Zimbabwe's long-delayed step towards a transparent and effective foreign exchange trading platform.This also comes as Bur...Published: 18 Mar 2020 at 16:50hrs | 5761 | by Staff reporter
Zimbabwe urged to adopt a dual currency
AFRICAN Economic Development Strategies (AEDS) has urged government to adopt for a dual currency - where the Zimbabwean dollar and the US dollar are used as the main currency.Presenting the St...Published: 15 Mar 2020 at 17:45hrs | 4814 | by Staff reporter
Zimdollar chaos power producers
The ban on the use of foreign currency in local transactions and the rapid collapse of the re-introduced Zimbabwe dollar has left independent power producers (IPPs) facing viability problems and is st...Published: 15 Mar 2020 at 11:09hrs | 1609 | by Staff reporter
'Dump Zimdollar'
THE government is coming under growing pressure to return the country to the general use of multi-currencies anchored by the American dollar, as the prematurely re-introduced Zim dollar continues to p...Published: 14 Mar 2020 at 23:56hrs | 1300 | by Staff reporter
Mnangagwa's Zanu-PF infiltrates Chamisa's MDC structures
THE mainstream opposition Movement for Democratic Change (MDC) says Zanu-PF has infiltrated its structures by planting intelligence agents and sponsoring some top-ranking officials to destabilise the ...Published: 13 Mar 2020 at 06:12hrs | 3673 | by Staff reporter
Zimdollar wreaks havoc
THE Zimbabwean dollar has continued its dramatic meltdown as it weakened even further against the greenback this week, 263 days after it was made the sole legal tender.The local unit has plumm...Published: 13 Mar 2020 at 06:12hrs | 2322 | by Staff reporter
Things fall apart as Zim$ crashes
There are fresh fears in the country- amid the continuing plunge of the Zimbabwe dollar on the black market and the ever rising prices of basic goods- that things could deteriorate to the horror level...Published: 12 Mar 2020 at 07:19hrs | 8908 | by Staff reporter
ZCTU pushes for rand salaries as Zimdollar plunges
The Zimbabwe Congress of Trade Unions (ZCTU) has tabled before government a demand that all wages be paid in the South African rand and that the country joins the Rand Monetary Union as the Zimbabwe d...Published: 12 Mar 2020 at 07:12hrs | 1327 | by Staff reporter
Zimdollar crashes, fuel prices shoot up
THE prices of basic goods and services are set to skyrocket anew, after the local currency plunged against the United States dollar on the black market yesterday, the Daily News reports.This c...Published: 07 Mar 2020 at 18:08hrs | 6608 | by Staff reporter
No forex, no fuel for Zimdollar earning Zimbabweans
FUEL is readily available for motorists buying in foreign currency, but not for those using local currency who have to queue for hours to access the commodity. This supply situation of diesel ...Published: 07 Mar 2020 at 06:42hrs | 769 | by Staff reporter
Questions on IMF, Zim optimism
MEDIA reports on the International Monetary Fund (IMF) Article IV Consultation with Zimbabwe which were deliberated upon by the executive board of the international financial institution last week on ...Published: 06 Mar 2020 at 06:15hrs | 311 | by The Brett Chulu
'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 | 752 | by Staff reporter
RBZ not printing any Zimdollars
THE government said yesterday that the country was not printing money unduly and would stick to its targets aimed at stabilising the Zimbabwe dollar, to reduce prices.This comes as the Reserve...Published: 03 Mar 2020 at 05:52hrs | 2355 | by Staff reporter
'Zimbabwe is open for business' mantra now rings hollow
ZIMBABWE's failure to attract foreign direct investment (FDI) in 2019, with investment plummeting by more than 50%, demonstrates that President Emmerson Mnangagwa's "Zimbabwe is open for business" man...Published: 28 Feb 2020 at 05:39hrs | 370 | by Staff reporter
I would rather be a dog
In this perverted life, good behaviour is generally viewed as uninspiringly drab, while bad habits are considered to be titillatingly infectious, contagious, addictive and fashionable.This is ...Published: 23 Feb 2020 at 08:17hrs | 247 | by Bishop Lazarus
Mnangagwa comes face to face with reality
BUSINESS and labour yesterday openly told President Emmerson Mnangagwa that the mono currency policy was not working and had pauperised many Zimbabweans while scaring away investors.In a candi...Published: 21 Feb 2020 at 06:13hrs | 10406 | by Staff reporter
Investors desert Zimbabwe stock market
FAILURE by foreign investors to repatriate funds has led to massive disinvestment on the Zimbabwe Stock Exchange (ZSE) with investments plummeting to 25% in 2019 from 52% in 2016.This comes as...Published: 21 Feb 2020 at 05:49hrs | 312 | by Staff reporter
Zimdollar stays, insists Mthuli Ncube
FINANCE minister Mthuli Ncube yesterday vowed that government will not take the Zimdollar out of circulation despite pleas by MPs across the political divide that it had brought suffering to Zimbabwea...Published: 20 Feb 2020 at 13:25hrs | 699 | by Staff reporter
What de-dollarising Mr Mangudya?
THE monetary authorities must just accept the obvious, the country is re-dollarising and not de-dollarising.When you reach a point where even government itself is offering United States dollar...Published: 20 Feb 2020 at 13:24hrs | 139 | by Staff reporter
Decent salaries guarantee stability
FOR any economy to develop, there is need for stability in the country, and stability can only be realised when people are able to put food on the table. But as the Zimbabwean economy continues on a d...Published: 18 Feb 2020 at 05:51hrs | 799 | by Staff reporter
Zimbabwe de-dollarisation on track, claims RBZ
Zimbabwe is making progress towards enforcing the use of the Zimbabwe dollar as the sole legal tender, after 189 million transactions valued at $459,6 billion were completed using local currency last ...Published: 18 Feb 2020 at 05:34hrs | 299 | by Staff reporter
ZCTU plots crippling living wage protests
THE country's largest labour body, the Zimbabwe Congress of Trade Unions (ZCTU), has threatened to roll out mass protests and make life difficult for President Emmerson Mnangagwa's government until it...Published: 17 Feb 2020 at 10:49hrs | 924 | by Staff reporter
Deadlock over minimum wage
SALARY talks in the Tripartite Negotiating Forum (TNF) have reportedly stalled after parties failed to agree on a minimum wage, with workers threatening to pull out of the negotiations and declare a s...Published: 14 Feb 2020 at 06:25hrs | 780 | by Staff reporter
Market rejects Zimdollar
PRESSURE is mounting from business, labour and informal traders for government to abandon the Zimbabwe dollar, which is being rejected as a medium of exchange because of lack of confidence and its ins...Published: 12 Feb 2020 at 06:07hrs | 2492 | by Staff reporter
Zimdollar stability key, says Mthuli Ncube
ONE of Government's main priorities this year is exchange rate stability that Treasury says will be achieved through the Reuters Trading System and keeping an eye on money supply growth, a Cabin...Published: 12 Feb 2020 at 05:34hrs | 452 | by Staff reporter
US$-RTGS court ruling challenged
NR Barber, a mining firm, is seeking the Constitutional Court (Concourt)'s permission to challenge last month's Supreme Court ruling which converted United States dollar debts to the Zimdollar at a ra...Published: 10 Feb 2020 at 22:13hrs | 1719 | by Staff reporter
'Mono-currency here to stay'
FINANCE and Economic Development Minister Professor Mthuli Ncube on Friday said Government has no intention to change its policy on the mono-currency and will introduce stiff penalties against those w...Published: 09 Feb 2020 at 05:47hrs | 930 | by Staff reporter
Indicators point towards further Zimdollar loss
CURRENCY instability remains one of the fundamental challenges the Zimbabwe economy is facing. The lack of a stable exchange rate stems from weak economic fundamentals such as high inflation, cash sho...Published: 07 Feb 2020 at 06:09hrs | 1218 | by Respect Gwenzi
Zimbabweans freaks over mealie-meal crisis
Long-suffering Zimbabweans yesterday made an imposed plea to the government to work harder to end the biting shortages of mealie-meal in the country. This comes as millers were yet to receive 50 000 t...Published: 05 Feb 2020 at 06:26hrs | 2748 | by Staff reporter
'Zimbabwe's maize supplies critically low'
NATIONAL maize supplies are critically low as a result of the poor 2019 harvest and limited ability for imports, USAid's food security arm has said.The poor 2018/19 season as a result of droug...Published: 04 Feb 2020 at 05:47hrs | 344 | by Staff reporter
Zimra surpasses revenue target by 24,65%
THE Zimbabwe Revenue Authority (Zimra) says it surpassed its net revenue target by 24,65% to register $23,19 billion in the 2019 fiscal year, largely as a result of inflationary pressures.Zimr...Published: 30 Jan 2020 at 09:02hrs | 281 | by Staff reporter
Zimbabwe banks face bleak future
ZIMBABWE's banks may face hurdles in meeting new minimum capital thresholds by year end, analysts have warned.In a show of lack of confidence in the local currency, the Monetary Policy Committ...Published: 26 Jan 2020 at 06:26hrs | 1243 | by Staff reporter
RBZ freezes accounts used for parallel market activities
THE Reserve Bank of Zimbabwe (RBZ) yesterday froze the bank accounts of a Chinese construction company, China Nanchang, on suspicion of injecting millions of dollars into the parallel market to buy fo...Published: 25 Jan 2020 at 08:06hrs | 5144 | by Staff Reporter
'Ruling on US$ debt a grand heist'
TUESDAY'S Supreme Court ruling declaring that debts owed in United States dollars (US$) incurred on or before February 22, 2019 should be settled using the Zimdollar at a 1:1 parity will further deepe...Published: 23 Jan 2020 at 06:26hrs | 587 | by Staff reporter
Landmark ruling on US dollar debts
THE Supreme Court of Zimbabwe has delivered a landmark ruling declaring that a debt owed in United States dollars (US$) incurred on or before February 22, 2019 should be discharged by paying in local ...Published: 23 Jan 2020 at 06:16hrs | 362 | by Staff reporter
Nelson Chamisa’s Agenda 2020 address to the nation
(Transcript of MDC leader Nelson Chamisa’s ‘Agenda 2020’ address as prepared for delivery at Stodart Hall in Mbare on January 21, 2020)Fellow Zim...Published: 22 Jan 2020 at 19:47hrs | 1484 | by Nelson Chamisa
Zimdollar has been a disaster for asset values, economy
The introduction of Zimbabwe's own currency, the ZWL, in February 2019 has been a disaster as many economists, as well as ourselves, had predicted. Since it was launched the ZWL has fallen fro...Published: 19 Jan 2020 at 13:14hrs | 585 | by John Legat
Competition hits PPC cash flows
PERSISTENT macro-economic risks and intense competition across regional cement producer Pretoria Portland Cement (PPC)'s business units have affected the firm's return on capital and free cash flows, ...Published: 17 Jan 2020 at 06:07hrs | 207 | by Staff rpeorter
Mnangagwa's Zanu-PF wary of unions
ZANU-PF is wary of labour unions and is accusing them of attempting to use workers to oust President Emmerson Mnangagwa's government under the guise of fighting for better working conditions.I...Published: 15 Jan 2020 at 06:47hrs | 1352 | by Staff reporter
Second-hand vehicles will not be restricted, says Mthuli Ncube
GOVERNMENT will continue to allow the importation of old second-hand vehicles, the older the vehicle, the less the duty charged.The issue was discussed on Tuesday in the National Assembly duri...Published: 21 Dec 2019 at 08:10hrs | 4766 | by Staff Reporter
Zimbabwe faces a gloomy 2020
IN the three weeks since the 2020 national budget both the economy and Finance Minister Mthuli Ncube's recovery strategy have drifted closer to the rocks. In their stubborn refusal to heed development...Published: 13 Dec 2019 at 07:30hrs | 802 | by Anthony Hawkins
Introduction of new currency a piecemeal solution
DURING the 2020 national budget presentation in Parliament last month, Finance minister Mthuli Ncube held up a note of the new Zimbabwe dollar and proudly announced that it was tough and resilient....Published: 04 Dec 2019 at 09:20hrs | 1212 | by Staff reporter
Zimbabwe's current economic meltdown beyond description
I am writing this piece writhing in agony because I see helplessness in our society with a moribund leadership on a broad scale. The current economic meltdown is beyond description especially given th...Published: 01 Dec 2019 at 10:20hrs | 2681 | by JJD Dube
This is how the cash gets onto the black market
The question is, how on this cursed land is money that the Reserve Bank of Zimbabwe (RBZ) is busy printing getting onto the black market in such huge amounts? The answer is, it's taking quite a team â...Published: 01 Dec 2019 at 06:11hrs | 3300 | by Tawanda Majoni
State of Zimdollar spells doom
IT can only happen in Africa; and it is, indeed, such a shame that the continent has become world famous and synonymous with leaders who are so crass that they will walk with a swagger while their nos...Published: 29 Nov 2019 at 09:39hrs | 552 | by Staff reporter
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