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Zimbabwe's errant bankers must be punished
Vocal Harare political activist and business advocate, Engineer Jacob Mutisi, has called for stringent accountability for bankers and financial institutions involved in the mismanagement and fraudulen...Published: 05 Dec 2024 at 09:19hrs | 1400 | by Staff reporter
All eyes on Professor Mthuli Ncube
As Zimbabwe prepares for the presentation of the 2025 National Budget, all eyes are on Finance, Economic Development, and Investment Promotion Minister, Professor Mthuli Ncube. The Budget, which serve...Published: 27 Nov 2024 at 08:13hrs | 1087 | by Staff reporter
BancABC uses 'dirty tactics' to silence bosses?
BancABC is engulfed in controversy, facing accusations of fabricating charges against at least nine top managers as part of a strategy to evade paying retrenchment packages, NewZimbabwe.com has learne...Published: 04 Nov 2024 at 06:50hrs | 1348 | by Staff reporter
Billions 'wiped off' Zimbabwe banks
Bankers in Zimbabwe have attributed a significant downturn in revenues to frequent changes in the country's functional currency, as first-half financial statements revealed a staggering loss of billio...Published: 18 Oct 2024 at 12:28hrs | 1433 | by Staff reporter
Govt happy with arrears clearance progress
The Zimbabwean Government has expressed optimism over the progress and milestones achieved in reforms under the arrears clearance and debt resolution process. During a meeting with Sector Working Grou...Published: 18 Oct 2024 at 08:32hrs | 70 | by Staff reporter
Over 400 ex-settlers to get compensation
In a significant development for former farm owners, over 400 individuals have been cleared for compensation under the Global Compensation Deed, aimed at addressing losses incurred during Zimbabwe's f...Published: 17 Oct 2024 at 08:59hrs | 190 | by Staff reporter
Zimbabwe scores milestones on arrears clearance process
The Government of Zimbabwe has received commendations for significant progress in the implementation of reforms under the Arrears Clearance and Debt Resolution process, a vital step towards transformi...Published: 17 Oct 2024 at 08:57hrs | 187 | by Staff reporter
'Zimbabwe's new land laws biggest heist'
Former Cabinet minister Walter Mzembi has raised concerns over a possible land grab by Zimbabwe's elite following the government's announcement of a new model that allows for land acquired under the l...Published: 10 Oct 2024 at 07:50hrs | 1237 | by Staff reporter
BCC grappling with fire at Richmond Landfill Site for 4 days now
The City of Bulawayo is actively working to extinguish a fire that erupted last Sunday at the Richmond Landfill Site, attributed to spontaneous combustion. The incident has raised alarm among resident...Published: 03 Oct 2024 at 08:56hrs | 224 | by Staff reporter
Zimbabwe bankers warn of price increases
Bankers in Zimbabwe are raising alarms about potential price increases and shortages of basic commodities following the recent devaluation of the Zimbabwe Gold (ZiG) by over 40% by the Reserve Bank of...Published: 03 Oct 2024 at 08:56hrs | 299 | by Staff reporter
BAZ, central bank meet over policy interventions
The Bankers Association of Zimbabwe (BAZ) held a crucial meeting with the Reserve Bank of Zimbabwe (RBZ) governor, Dr. John Mushayavanhu, on Monday to address key policy changes from the Monetary Poli...Published: 03 Oct 2024 at 08:44hrs | 56 | by Staff reporter
Can Zimbabwe ZiG-zag away from the USD?
ZIMBABWE'S economy has suffered immensely since 2008, when inflation exceeded a million percent.Since then, the government has made six attempts to adopt a local currency, with the latest comi...Published: 13 Sep 2024 at 16:04hrs | 2771 | by Nkosi Moyo
90% of Zimbabwe adults in the informal sector
Millions of adult Zimbabweans have been driven into the informal business sector due to the declining formal market, according to a recent statement from the Coalition for Market and Liberal Solutions...Published: 11 Sep 2024 at 08:53hrs | 165 | by Staff reporter
Zimbabwe banks reduce lending as crisis persists
Zimbabwe's banking sector is facing significant challenges that have limited its ability to lend, according to the Bankers Association of Zimbabwe (BAZ). Key issues include the absence of a le...Published: 06 Sep 2024 at 14:41hrs | 201 | by Staff reporter
Zimbabweans use gold-backed ZiG to pay for 40% of transactions
Zimbabweans are using the nation's gold-backed currency for 40% of payments compared with 20% when it first started in April, Finance Permanent Secretary George Guvamatanga said.The ZiG - an a...Published: 22 Aug 2024 at 07:26hrs | 521 | by Staff reporter
Zuma's MK wants release of Verwoerd 'monopolies' report
The Umkhonto Wesizwe (MK) party is asking the National Assembly to share a report on the influence of the Oppenheimer and Rupert families on South Africa's economy, which Prime Minister Hendrik Verwoe...Published: 14 Aug 2024 at 16:57hrs | 741 | by Staff reporter
Debunking mischief about Tagwirei, Sakunda
There has been a sustained casting of aspersions over the success of businessman Mr Kudakwashe Tagwirei, whom I will simply call Kuda, from anti-Zimbabwe media and activists both locally and outside t...Published: 10 Jul 2024 at 16:49hrs | 18 | by Rutendo Bereza Matinyarare
Zimbabwe banks downplay ZWG shortages
Zimbabwe's banking sector has sought to downplay reports of severe liquidity shortages following the introduction of the new Zimbabwe Gold (ZWG) currency by the Reserve Bank of Zimbabwe (RBZ) on April...Published: 30 Jun 2024 at 18:32hrs | 1 | by Staff reporter
ZEC paid US$5.4 million for fancy V11 display boxes that it never used
The Zimbabwe Electoral Commission (ZEC) splurged US$5 million on gadgets to display digital V11 polling station forms for last August's elections - but the devices, bought at inflated prices, were onl...Published: 28 Jun 2024 at 09:16hrs | 1 | by Staff reporter
Zimbabwe currency code changes to ZWG
The World Bank International Organisation for Standardisation (ISO) Committee has approved the change of Zimbabwe's local currency code from ZWL to ZWG (Zimbabwe Gold).The ISO 4217 standard, w...Published: 26 Jun 2024 at 13:00hrs | 11 | by Staff reporter
Zimbabwe's banks not ready for cryptocurrency
At the inaugural Capital Markets Conference in Nyanga, it was disclosed that Zimbabwean banks are not yet prepared to fully integrate cryptocurrency trading, despite ongoing efforts by regulators to d...Published: 23 Jun 2024 at 10:40hrs | 33 | by Staff reporter
Farewell Chairman VK: Reflections of a dear friend
The late Vimbai Kamoyo (VK) was quite a character.They buried him last week in Chiunye village, Mt Darwin, Mashonaland Central. Between him and I, the title of "Chairman" took tu...Published: 18 Jun 2024 at 14:54hrs | 40 | by Josiah Mucharowana in Pretoria
Reserve Bank of Zimbabwe appoints tainted Mpofu
TRUST, confidence and credibility of the Reserve Bank of Zimbabwe (RBZ) has been put at stake after the new central bank governor John Mushayavanhu appointed tainted banker Morris Bekezela Mpofu as hi...Published: 19 May 2024 at 11:54hrs | 17 | by Staff reporter
RBZ is the problem not ZiG!
Before going to press on the Zimbabwe currency crisis, I had seven questions I wanted authoritatively answered. Professor Gift Mugano was the answer."Isn't he the one who is supposed to disapp...Published: 16 Apr 2024 at 17:58hrs | 2 | by Kenneth Mufuka
RBZ scraps bank charges for low-cost accounts
IN a move meant to encourage a culture of banking, the Reserve Bank of Zimbabwe (RBZ) has announced the scrapping of bank charges for low-cost accounts.Presenting his first Monetary Policy Sta...Published: 07 Apr 2024 at 10:06hrs | | by Staff reporter
Zimbabwe's new currency notes out this week
ZIMBABWEANS were transacting exclusively in United States dollars yesterday as the country began transitioning to the new currency — Zimbabwe Gold (ZiG) — following unveiling of the new gold-backe...Published: 07 Apr 2024 at 10:06hrs | 1 | by Staff reporter
Police arrest 6 suspects after money transfer agency robbed
A gang of 12 armed robbers stole US$716,340 cash after breaking into the offices of a financial services company in Harare and blowing up safes, police said on Tuesday.Six suspects have been a...Published: 27 Feb 2024 at 19:07hrs | 1 | by Staff reporter
CBZ opens Johannesburg office
CBZ Bank Limited, a wholly-owned subsidiary of the diversified and listed financial services group CBZ Holdings (CBZH), has opened a new office in Sandton, Johannesburg, South Africa.CBZH prov...Published: 12 Feb 2024 at 13:53hrs | 13 | by Staff reporter
Zimdollar crashes to lowest since its 2019 revamp
A fresh plunge in the value of the Zimbabwean dollar means that everyone in the country with US$100 is now a millionaire in local-currency terms. Again.The local unit on Tuesday weakened past ...Published: 31 Jan 2024 at 04:56hrs | 2 | by Staff reporter
Zimdollar flounders
Zimbabwe's central bank will hold its first rate-setting meeting of the year next Monday as it seeks to deal with a currency rout.The monetary policy committee will meet "to discuss interventi...Published: 25 Jan 2024 at 06:37hrs | 1 | by Staff reporter
Mnangagwa tightens his grip on levers of Zimbabwe's Treasury
WITH his close business ally John Muyashavanhu now confirmed as the incoming Reserve Bank of Zimbabwe (RBZ) governor, George Guvamatanga as Finance permanent secretary — chief accounting officer of ...Published: 12 Dec 2023 at 17:58hrs | 2 | by Staff reporter
John Mushayavanhu: A strong candiate to lead the Reserve Bank of Zimbabwe
As Zimbabwe looks to appoint a new Governor for the Reserve Bank, the candidacy of John Mushayavanhu has gained significant attention and support from various quarters. With an impressive track record...Published: 10 Dec 2023 at 10:56hrs | 10 | by Nkululeko Nkomo
'Zimbabweans are already overtaxed'
AMERICAN financial literacy website, Investopedia defines 'wealth tax' as a tax based on the market value of assets owned by a taxpayer.A wealth tax is typically put on a 'high-net-worth' indi...Published: 03 Dec 2023 at 17:37hrs | 12 | by Staff reporter
Zimbabwe's an anti-poor budget
Finance, Economic Development and Investment Promotion minister Mthuli Ncube yesterday presented the ZWL$58,2 trillion 2024 national budget.According to the Treasury chief, the economy is proj...Published: 01 Dec 2023 at 04:55hrs | 10 | by Staff reporter
Businessman takes US$19,5m claim to Supreme Court
AL Shams Global BVI Ltd, a company owned by businessman Jayesh Shah, has filed an appeal at the Supreme Court seeking to reverse a High Court judgment which dismissed a US$19,5 million damages claim f...Published: 23 Nov 2023 at 05:37hrs | 1 | by Staff reporter
US sanctions embargo 21 Zimbabwe banks
Sanctions against Zimbabwe, initiated by the United States in 2001 through the Zimbabwe Democracy and Economic Recovery Act (ZDERA) and followed by the European Union in 2002, were prompted by allegat...Published: 30 Oct 2023 at 05:19hrs | 1 | by Staff reporte
Zimbabwe Communist Party elections observer report for 2023 elections
OBSERVATIONS ON THE 2023 GENERAL ELECTIONGeneralFirstly, as Communists, we do not confuse democracy with voting.The word ‘democracy' is derived from Greek and means ‘rule by the pe...Published: 04 Sep 2023 at 06:34hrs | 1 | by Central Committee of the Zimbabwe Communist Party
South African media has failed to bring regime change in Zimbabwe
Over the past 22 years since sanctions were imposed on Zimbabwe, western governments have invested billions of dollars into South African white owned media, with the aim of discrediting Zanu-PF. ...Published: 29 Aug 2023 at 12:34hrs | | by Rutendo Matinyarare
Reserve Bank of Zimbabwe bails out 3 banks
THE Reserve Bank of Zimbabwe (RBZ) has used its lender of last resort (LoLR) facility to bail out three distressed banks which had run out of liquidity following the steep depreciation of the local cu...Published: 16 Aug 2023 at 06:49hrs | 10 | by Staff reporter
Ex-Zinara boss loses houses, cars
FORMER Zimbabwe National Road Administration (Zinara) chief executive Frank Chitukutuku and his wife Nyasha, have lost their two upmarket houses, a fleet of vehicles and shares in two businesses belie...Published: 26 Jul 2023 at 06:37hrs | 15 | by Staff reporter
Smelly Dube inducted into African Leaders Hall of Fame
Businesswoman and philanthropist Smelly Dube was last Thursday inducted into the African Leaders Hall of Fame at the African Business Summit in Accra, Ghana.Dube, who is the CEO of River Valle...Published: 23 Jul 2023 at 08:09hrs | | by Staff reporter
Zimdollar flips to best currency in the world?
The rebound, driven by new rules that require corporate taxes to be settled in the local currency, are seen easing inflation ahead of next month's general elections.In most countries, the curr...Published: 20 Jul 2023 at 17:27hrs | 1 | by Staff reporter
Consider paying Zimbabwe civil servants in gold coins'
Government has been urged to explore the feasibility of paying a portion of civil servants' salaries in gold-backed digital tokens and gold coins.The tokens have proven to be effective in mopp...Published: 12 Jul 2023 at 08:15hrs | | by Staff reporter
Why Mnangagwa blocked Mthuli Ncube's export tax
PRESIDENT Emmerson Mnangagwa recently blocked Finance minister Mthuli Ncube's 10% tax on mining exports to pay arrears on the country's debt overhang - which makes it difficult for the government to b...Published: 02 Jul 2023 at 17:27hrs | 14 | by Staff reporter
New city for 30 000 residents on the cards in Zimbabwe
GOVERNMENT has approved a plan for the development of a new town between Mvuma-Chivhu and Manhize in the Midlands province amid growing interest from industrialists, banks, and other service providers...Published: 19 Jun 2023 at 06:45hrs | 29 | by Staff reporter
RBZ clarifies new forex surrender policy
THE Reserve Bank of Zimbabwe (RBZ) is set to meet with the Bankers Association of Zimbabwe (BAZ) and Accountant General with a view to map the way forward on the use of foreign exchange from the 25 pe...Published: 02 Jun 2023 at 06:40hrs | 1 | by Staff reporter
Money changers hijack POS machines for big transactions
DECKED out in trendy designer wear, clutching energy drink cans and munching take-aways while engaging in high-pitched conversations, illegal money changers, popularly known as osiphatheleni who have ...Published: 22 May 2023 at 06:35hrs | | by Staff reporter
Zimbabwe govt guns for maximum land utilisation
Government has put in place several maesures, such as penalising multiple land owners and re-allocation, to ensure that every piece of agricultural land is fully utilised, NewsDay Farming reported....Published: 20 Apr 2023 at 07:33hrs | | by Staff reporter
The Coming BRICS Summit: The ending of US worldwide domination
The Coming BRICS Summit: The ending of US worldwide dominationAn African PerspectivePart 1South Africa will host the 15th BRICS Summit from 22nd-24th August 2023, with the theme;...Published: 13 Apr 2023 at 18:50hrs | 5 | by Ian Beddowes
Zimbabwean appointed managing director at Uganda's DFCU Bank
Development Finance Company of Uganda Bank Limited (DFCU) Bank has appointed Mr Charles M Mudiwa, a Zimbabwean national, as the new managing director, almost three months after Mr Mathias Katamba resi...Published: 09 Apr 2023 at 08:07hrs | | by Staff reporter
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