Search / Debt
SA's troubles are mounting, IMF warns
The IMF has warned that SA faces "mounting economic and social challenges" as economic growth recedes, consumer and business sentiment remain weak, and energy and logistics crises deepen. It a...Published: 10 hrs ago | 291 | by Staff reporter
Mnangagwa's 5 election hurdles
AFTER days of political drama, anxiety and bated breath, President Emmerson Mnangagwa proclaimed the election date, setting the stage for a season of intrigue, joy and heartaches. Zimbabwe decides on ...Published: 05 Jun 2023 at 19:06hrs | 1647 | by Staff reporter
Redwing: a tale of plunder, impunity, chaos and death
Redwing Gold Mine, once touted as a giant gold mining venture capable of transforming the quality of life in the Penhalonga area of Manicaland province and a cash cow for the national economy, has bec...Published: 04 Jun 2023 at 12:12hrs | 348 | by Staff reporter
Banks scale back Zimbabwe dollar lending
BANKS have significantly reduced lending in the local currency ever since monetary authorities hiked interest rates last year to prevent rent-seeking behaviour by individuals and corporates, Reserve B...Published: 04 Jun 2023 at 08:29hrs | 40 | by Staff reporter
Zimbabwe needs to manage her debts
DEBT plays an important role in the resource mobilisation strategy of any country.However, the processes of its contraction, sources, structure and its implications on the economy and the live...Published: 03 Jun 2023 at 08:19hrs | 44 | by Zimcodd
Did war vets collapse Zimdollar?
I HEAR many Zimbabweans suggesting that Zimbabwe was driven to bankruptcy and the crash of the dollar by paying war veterans in 1997.However, this perception is wrong because Zimbabwe printed ...Published: 03 Jun 2023 at 08:19hrs | 437 | by Rutendo Matinyarare
'Mnangagwa must withdraw 'Patriotic Bill' from parliament'
THE Zimbabwe Lawyers for Human Rights is greatly saddened by the passing of the Criminal Law (Codification and Reform) Amendment Bill H.B. 15, 2022 introducing so-called patriotism provisions in the H...Published: 02 Jun 2023 at 18:18hrs | 415 | by Staff reporter
Zimbabwe 'sellouts' shocked as Parly passes 'Patriot Bill'?
THE Criminal Law (Codification and Reform) Amendment Bill, popularly known as the Criminal Code, sailed through the National Assembly on Tuesday night and immediately sent chills down spines of many p...Published: 02 Jun 2023 at 06:50hrs | 893 | by Staff reporter
Mangudya rules out dollarisation
RESERVE Bank of Zimbabwe (RBZ) governor John Mangudya yesterday claimed that past experiences, rather than basic economic issues, were to blame for the country's exchange rate volatility, as he ruled ...Published: 02 Jun 2023 at 06:46hrs | 346 | by Staff reporter
EcoCash posts $4,76bn loss
ECOCASH Holdings Zimbabwe Limited (EHZL) has posted a $4,76 billion loss for its financial year ended February 28, 2023 owing to monetary exchange losses worth $30,1 billion linked to its failure to r...Published: 02 Jun 2023 at 06:44hrs | 243 | by Staff reporter
Low tariffs chew into Econet earnings
ECONET Wireless Zimbabwe (EWZ) has posted a near $17 billion loss for the year ended February 28, 2023, owing to a 317,14% increase in exchange losses during the period as the local currency tumbled....Published: 01 Jun 2023 at 06:45hrs | 160 | by Staff reporter
Mthuli Ncube banks on new currency measures
Finance minister Mthuli Ncube on Monday announced new measures to encourage the use of the Zimbabwe dollar as opposed to the U.S. dollar, in a bid to boost the local unit and tame rising consumer infl...Published: 30 May 2023 at 15:10hrs | 1320 | by Staff reporter
Mthuli Ncube announces policy measures to stabilize the economy
The Minister of Finance and Economic Development, Professor Mthuli Ncube, has announced policy measures which are meant to stabilize the local currency and stimulate the economy.The measures w...Published: 30 May 2023 at 11:50hrs | 616 | by Staff reporter
Mnangagwa says he's grateful for debt, arrears plan
Zimbabwe is grateful to development partners and creditors for embracing the resolution process of arrears clearance and debt, and hopes that if debts are rescheduled or written off, the economy will ...Published: 30 May 2023 at 06:41hrs | 108 | by Staff reporter
Mnangagwa to visit Malawi
PRESIDENT Mnangagwa is expected to embark on a three-day State Visit to Malawi on Wednesday to discuss matters of mutual interest between the two African countries.In a statement, Malawi's Min...Published: 29 May 2023 at 06:30hrs | 176 | by Staff reporter
Sanctions eroding value of Zimdollar
The depreciation of the Zimbabwe dollar is partly due to illegal economic sanctions imposed on the country by Western countries, the African Development Bank (AfDB) said in its African Economic Outloo...Published: 29 May 2023 at 06:30hrs | 191 | by Staff reporter
US credit rating downgraded
China Chengxin International Credit Rating (CCXI) slashed its sovereign credit score for the US by one notch earlier this week, becoming the first among top rating firms to make the move.The l...Published: 27 May 2023 at 19:44hrs | 478 | by Staff reporter
Jail sentence for motorists who illegally remove clamps from their vehicles
Bulawayo City Council has issued a stern warning to motorists who evade paying parking fees by removing wheel clamps from their vehicles, noting that the offence attracts a jail sentence.This ...Published: 26 May 2023 at 18:19hrs | 588 | by Staff reporter
'US debt is a pyramid scheme used to defraud other nations'
Senior Russian lawmaker Vyacheslav Volodin has branded US federal government debt a global pyramid scheme that is heading for an inevitable collapse. The comments come as Washington struggles to agree...Published: 26 May 2023 at 16:39hrs | 274 | by Staff reporter
Economic sanctions continue to place Zimbabwe further into unsustainable debt
Finance minister Enoch Godongwana says the government supports Zimbabwe's implementation of key reforms to resolve its debt problems and end 21 years of sanction.If successful, such moves can ...Published: 26 May 2023 at 16:26hrs | 87 | by Staff reporter
Mnangagwa must not deliver another Lima
WHITE commercial farmers forced off their land over 20 years ago have waited since 2018 — when government agreed to a compensation deal — to receive their settlements. It is important to note that...Published: 26 May 2023 at 06:41hrs | 5026 | by Staff reporter
Ball is in Mnangagwa's court
LAST week, Zimbabwe continued with its structured debt clearance dialogues with foreign creditors owed over US$14 billion, as the country makes important steps to weave its way out of the debt hole....Published: 26 May 2023 at 06:37hrs | 1084 | by Staff reporter
'Monitor all Zimbabwe mega infrastructure deals'
ANTI-corruption watchdog, Transparency International Zimbabwe (TI-Z) has urged government to monitor contracts of all mega infrastructure deals to curb financial leakages."There is a need to c...Published: 26 May 2023 at 06:35hrs | 175 | by Staff reporter
Master of High Court backs Telecel rescue
THE Master of the High Court has backed the application by the Communications and Allied Workers Union (CAWUZ) seeking to place the cellular services company, Telecel Zimbabwe, under corporate rescue,...Published: 26 May 2023 at 06:31hrs | 112 | by Staff reporter
Zimbabwe commits to resolve debt, arrears
PRESIDENT Mnangagwa yesterday committed to resolve Zimbabwe's long overdue debt arrears, and re-engaging with development partners and creditors to reposition the economy for sustained growth anchored...Published: 25 May 2023 at 06:23hrs | 92 | by Staff reporter
Telecel denies corporate rescue proceedings
EMBATTLED telco, Telecel Zimbabwe (Pvt) Ltd (Telecel) has dismissed its placement under "corporate rescue proceedings" first announced in a notice in the Government Gazette dated May 12, 2023....Published: 24 May 2023 at 06:02hrs | 102 | by Staff reporter
Mnangagwa disappointed by some members of the business community
PRESIDENT Mnangagwa is disappointed by some members of the business community whose conduct continues to frustrate Government efforts to stabilise the economy and the current wave of price increases o...Published: 23 May 2023 at 06:36hrs | 232 | by Staff reporter
'Re-engagement will depend on holding credible 2023 elections' AfDB warns. At long last, some home-truths
"The African Development Bank has moved to fast-track Zimbabwe's $3.5 billion compensation to white farmers whose land was seized under former president Robert Mugabe's reforms. The bank is leading ef...Published: 22 May 2023 at 21:59hrs | 844 | by Wilbert Mukori
Zimbabwe debt clearance tied to farmers' compensation and credible polls
THE African Development Bank has moved to fast-track Zimbabwe's $3.5 billion compensation to white farmers whose land was seized under former president Robert Mugabe's reforms. The bank is leading eff...Published: 22 May 2023 at 06:40hrs | 263 | by Zeenat Hansrod
Mnangagwa leaves for AfDB forum in Egypt
President Mnangagwa is expected here today to join over 3 000 delegates who include Heads of State and Government, central bank governors and members of the development community, at the 58th annual m...Published: 22 May 2023 at 06:25hrs | 153 | by Staff reporter
Mnangagwa chopper deal raises stink?
President Emmerson Mnangagwa has been criticised for presiding over a controversial deal that saw Zimbabwe acquire 32 helicopters from Russia worth a staggering US$320 million without following laid d...Published: 21 May 2023 at 08:14hrs | 818 | by Staff reporter
Zimbabwe is poor because of IMF
THE International Monetary Fund (IMF)'s programmes have come under fire from civil society, which claims they have lasting repercussions on public service delivery, development, and poverty.Th...Published: 21 May 2023 at 08:12hrs | 195 | by Staff reporter
Russian helicopters deal needs close scrutiny
The penchant for wasteful expenditure by President Emmerson Mnangagwa's government went a notch higher last week with the delivery of 32 helicopters from Russia in a deal said to be worth $320 million...Published: 21 May 2023 at 08:12hrs | 1431 | by Staff reporter
Zimbabwe ups tempo on debt resolution
President Mnangagwa's scheduled engagements at the African Development Bank (AfDB)'s annual meetings in Sharm el-Sheik, Egypt, this week will add impetus to Zimbabwe's arrears clearance and debt resol...Published: 21 May 2023 at 08:02hrs | 34 | by Staff reporter
Zimbabwe govt takes price madness head-on
Government, whose responsibility is to protect the consumer and ensure stability, will "take all measures necessary", including painful ones if need be, to ensure price stability, the President has sa...Published: 21 May 2023 at 08:02hrs | 123 | by Staff reporter
'Zimbabwe debt resolution will open funding floodgates'
THE successful conclusion of discussions on Zimbabwe's arrears clearance and debt resolution will lay a firm foundation for the lifting of economic sanctions and help to unlock fresh and affordable ex...Published: 21 May 2023 at 08:02hrs | 56 | by Staff reporter
Mthuli Ncube weaponising foreign trade to fight local firms
ZIMBABWE'S rulers think that it is within their rights to destroy their economy and turn to neighbours for stop gap solutions.This weird belief was passed from the late strongman, Robert Mugab...Published: 20 May 2023 at 19:58hrs | 352 | by Staff reporter
Zimbabwe parly miffed by high parastatals debt
THE Parliamentary Portfolio Committee on Budget, Finance and Economic Development is conducting public hearings to determine the level of debt held by State-owned firms, with early signs suggesting th...Published: 19 May 2023 at 20:44hrs | 263 | by Staff reporter
Africa should stop being such a crybaby!
We all know there is nothing more 'uncool' or 'unsexy' than someone who never owns up to his own failures in life - but seeks to blame others as to why he is not succeeding.Amongst all these, ...Published: 17 May 2023 at 13:44hrs | 496 | by Tendai Ruben Mbofana
AfDB to assist Zimbabwe govt compensate white farmers
THE African Development Bank (AfDB) says it is working on a financial instrument to fund the US$3,5 billion needed to compensate white former commercial farmers.AfDB is working with the Minist...Published: 16 May 2023 at 05:10hrs | 640 | by Staff reporter
Mnangagwa opens door to foreign observers
AHEAD of this year's harmonised elections whose dates will be proclaimed soon, President Mnangagwa has invited foreign countries interested to come and observe the polls.President Mnangagwa, w...Published: 16 May 2023 at 05:08hrs | 1796 | by Staff reporter
African Devt Bank proposes ‘fast track' compensation for Zimbabwe white ex-farmers
The African Development Bank (AFDB) has developed financial instruments to "fast track and front load" $3.5 billion in compensation to white farmers whose land was taken from them by Zimbabwe's govern...Published: 15 May 2023 at 19:05hrs | 119 | by Staff reporter
High Court orders attachment of VFEX listed WestPro's land
A High Court judge has ordered the attachment of land belonging to Victoria Falls Stock Exchange (VFEX) listed West Property Holdings (WestPro) to offset a longstanding debt with a contractor....Published: 15 May 2023 at 18:59hrs | 368 | by Staff reporter
Drilling of boreholes by ZANU PF proves regime has no permanent solution to urban water crisis!
Judging by the manner in which the ZANU PF government is so fond of always castigating the opposition for failing to run urban authorities, one would be excused for believing the party had solutions....Published: 15 May 2023 at 14:02hrs | 321 | by Tendai Ruben Mbofana
Zimbabwe hosts fourth Structured Dialogue Platform on arrears clearance and debt resolution process
Zimbabwe has concluded a fourth Structured Dialogue Platform meeting on debt clearance with creditors and development partners.Government and development partners met Thursday 11 May, to revie...Published: 15 May 2023 at 11:09hrs | 198 | by APO
Mnangagwa to engage creditors on Zimbabwe debt
PRESIDENT Mnangagwa is set to travel to the United Arab Republic of Egypt, where he has been invited by his counterpart, President Abdel Fattah El-Sisi, and will take advantage of the Africa Developme...Published: 14 May 2023 at 11:32hrs | 120 | by Staff reportetr
Zimgold seeks to ramp up production
COOKING oil producer Zimgold Oil Industries has announced plans to ramp up production by increasing its crushing capacity by 67% to 100 000 tonnes annually. The company's finance director Amit Goyal m...Published: 12 May 2023 at 06:05hrs | 98 | by Staff reporter
Mnangagwa backtracks on 'looting' law
PRESIDENT Emmerson Mnangagwa has scrapped the controversial law that sought to hide details of some procurement processes from the public after a public outcry, saying its gazetting was a fraud,...Published: 11 May 2023 at 05:33hrs | 746 | by Staff reporter
BCC, Ecocash mull debt collection partnership
The Bulawayo City Council (BCC) is set to enter into a debt collection deal with EcoCash Holdings.According to latest council minutes, EcoCash Holdings' Pride Gonde, an account executive, wrot...Published: 11 May 2023 at 05:33hrs | 280 | by Staff reporter
Pregnant immigrants turned away from Joburg clinics
Priscilla Tumira from Zimbabwe thinks she is eight months pregnant, but she has not had any prenatal health care. Without valid documents, Tumira says, staff at Jeppe and Hillbrow Clinics in Johannesb...Published: 10 May 2023 at 06:10hrs | 1328 | by Staff reporter
Load More Stories
