Bulawayo24 News - Skyes! "it makes perfect sense"

Prophet Magaya makes arrangements to pay US$420k debt

Harare-based preacher Prophet Walter Magaya and his wife Tendai have secured a reprieve in their ongoing financial troubles after paying US$180,000 to GetBucks Microfinance Bank and signing a deed of settlement for the remainder of their o…

Published: 23 hrs ago | 666 | by Staff reporter

Zimbabwe in top five of Afreximbank borrowers

Zimbabwe has emerged as one of the top five borrowers from the African Export-Import Bank (Afreximbank), highlighting its growing reliance on the regional lender at a time when global credit assessors are warning of escalating debt vulnera…

Published: 06 Sep 2025 at 19:53hrs | 95 | by Staff reporter

Zimbabwe's tobacco farmers trapped in debt

Zimbabwe's tobacco industry has continued to record impressive export earnings, with revenues approaching US$1 billion in 2024. However, behind the success story, many smallholder farmers say they are sinking deeper into debt and poverty.T…

Published: 02 Sep 2025 at 06:35hrs | 81 | by Staff reporter

Zimbabwe's debt plan faces test

Zimbabwe's arrears clearance and debt resolution plan will come under renewed scrutiny as Mauritanian banker Sidi Ould Tah assumes office today as the ninth president of the African Development Bank Group (AfDB).Tah secured the presidency …

Published: 01 Sep 2025 at 05:53hrs | 280 | by Staff reporter

Government debt cripples Masvingo City

Masvingo City Council is facing mounting challenges in delivering basic services due to the government's failure to settle substantial debts owed to the local authority, with claims that various government departments now owe the council m…

Published: 13 Aug 2025 at 13:04hrs | 196 | by Staff reporter

Zimbabwe prioritises debt clearance

Resolving Zimbabwe's crippling debt overhang has been elevated to a top national priority, with the Government declaring that the success of the arrears clearance and debt resolution process is essential for unlocking affordable, long-term…

Published: 12 Aug 2025 at 19:35hrs | 178 | by Staff reporter

Zimbabwe repays US$176 million in external debt

The Zimbabwean government has made notable progress in repaying its external debt, with a total of US$176.28 million paid during the first six months of 2025, according to data released by the Ministry of Finance and Economic Development.T…

Published: 10 Aug 2025 at 12:12hrs | 529 | by Staff reporter

Zimbabwe needs G20 help to exit debt trap

Zimbabwe's best chance of exiting a 25-year debt default is to engage the Group of 20 nations to help formulate a solution and stop trying to work its way out of the quagmire itself, World Bank President Ajay Banga said.The southern Africa…

Published: 28 Jul 2025 at 14:02hrs | 158 | by Staff reporter

Blood shortage crisis pushes Zimbabweans into debt

Zimbabwe's promise of free blood transfusions in public hospitals is being severely undermined by a deepening national shortage, forcing desperate patients to turn to private medical facilities where they are charged over US$250 per pint o…

Published: 26 Jul 2025 at 15:14hrs | 313 | by Staff reporter

Meikles's debt to suppliers raises fresh concerns

Meikles Limited's trade payables more than doubled to ZiG925,78 million in its financial year ended February 28, 2025, sparking fears of deepening debt pressures within Zimbabwe's formal retail sector and drawing parallels with the supplie…

Published: 21 Jul 2025 at 12:34hrs | 483 | by Staff reporter

Prophet demands US$6K from stranger's dead dad's 'spiritual debt'

A self-styled prophet who claimed divine powers to extort money from a woman over a fabricated debt allegedly owed by her deceased father has been convicted and sentenced to community service in a case that left a Bulawayo courtroom stunne…

Published: 13 Jul 2025 at 16:09hrs | 453 | by Staff reporter

Zimbabwe hopes to service external debt

Zimbabwe, locked out of international capital markets since defaulting in 1999, expects its stronger economy to help it pay back external creditors, without saying when this would begin.Finance Minister Mthuli Ncube told reporters in the c…

Published: 09 Jul 2025 at 07:48hrs | 86 | by Staff reporter

'Zimbabwe losing billions in tax revenue to informal sector'

Zimbabwe is losing between US$7.5 billion and US$8 billion in potential tax revenue every year due to the dominance of its informal sector, according to new estimates by the African Development Bank (AfDB).The bank is now urging the govern…

Published: 04 Jul 2025 at 14:22hrs | 228 | by Staff reporter

Air Zimbabwe pays $1mn to rejoin GDSs

Air Zimbabwe has settled more than US$1 million in outstanding debts to key international service providers, a development that paves the way for its reintegration into global ticketing and code-sharing platforms - a major milestone in the…

Published: 04 Jul 2025 at 12:56hrs | 347 | by Staff reporter

TelOne struggles to attract investment

TelOne (Private) Limited is facing significant challenges in securing fresh capital for vital infrastructure expansion projects, as legacy debts inherited from the defunct Posts and Telecommunications Corporation (PTC) continue to weigh he…

Published: 03 Jul 2025 at 12:29hrs | 133 | by Staff reporter

TelOne suffers liquidity crunch

State-owned telecommunications giant TelOne Private Limited is facing a serious liquidity crisis amid revelations that the government owes the company US$19.2 million for voice and data services rendered over several years.The debt burden …

Published: 02 Jul 2025 at 09:37hrs | 203 | by Staff reporter

Beer binge ends in bloody attack over debt

A routine beer session spiralled into a night of horror when a 40-year-old man attacked his drinking companion with an axe over a debt dispute, leaving the victim fighting for his life.Nkosilathi Ndlovu was sentenced to eight years in pris…

Published: 27 Jun 2025 at 15:07hrs | | by Staff reporter

Zimbabwe asks South Africa to back G-20 debt overhaul

Zimbabwe has asked South Africa to help garner support for its debt to be revamped under the Group of 20's Common Framework, a step that could restore its access to international capital markets for the first time in more than 25 years."So…

Published: 19 Jun 2025 at 07:17hrs | 222 | by Staff reporter

Gwanda residents face water disconnections over debt

The Gwanda Municipality has intensified its water disconnection exercise across the mining town as part of efforts to recover mounting unpaid bills from residents and businesses.In an official notice issued this week, the local authority w…

Published: 11 Jun 2025 at 17:51hrs | 247 | by Staff reporter

Time Bank proposes US$38bn debt bailout to Zimbabwe govt

Time Bank Holding Company has unveiled a bold proposal to lend the Zimbabwean government US$38 billion to clear national debt and compensate multiple groups owed by the State, with the loan secured through the conversion of 500,000 hectare…

Published: 10 Jun 2025 at 08:40hrs | 470 | by Staff reporter

Afreximbank exposes US$2,4 billion hole in Zimbabwe external debt

The African Export-Import Bank (Afreximbank) has revealed a significant US$2.4 billion discrepancy in Zimbabwe's official external debt data, raising fresh concerns over the credibility of the country's fiscal reporting and debt management…

Published: 30 May 2025 at 12:09hrs | | by Staff reporter

Zimbabwe's economic reforms gain momentum with IMF deal

Finance, Economic Development and Investment Promotion Minister, Professor Mthuli Ncube, has announced that Zimbabwe expects to secure a Staff Level Agreement (SLA) with the International Monetary Fund (IMF) on a Staff Monitored Programme …

Published: 28 May 2025 at 10:38hrs | 104 | by Staff reporter

Seed firms crippled by Zimbabwe govt debt

Zimbabwe's seed industry is teetering on the edge of collapse as the government grapples with ballooning debt, having failed to pay seed suppliers nearly US$270 million over the past three farming seasons.The debt, stemming from flagship s…

Published: 22 May 2025 at 11:36hrs | | by Staff reporter

Zimbabwe targets 2030 to clear US$21 billion debt

Zimbabwe has set an ambitious 2030 deadline to clear its ballooning US$21 billion public debt, in a bid to create the foundations for a stable mono-currency regime anchored by the Zimbabwe Gold (ZiG) currency, Finance Minister Mthuli Ncube…

Published: 19 May 2025 at 09:21hrs | 135 | by Staff reporter

Woman raped as she chases debt

A 26-year-old man appeared in court facing allegations of raping a vendor who had visited his office to collect a debt. Ignatius Chindudzi, who is facing charges of rape, was arraigned before Harare magistrate Mrs. Marehwanazvo Gofa.Accord…

Published: 10 Dec 2024 at 06:36hrs | 622 | by Staff reporter

Chinese debt threatens to switch off Zimbabwe's Hwange

Zimbabwe's industrial sector is on edge this week as concerns grow over the future of the Hwange Thermal Power Station, a critical asset for the country's beleaguered power grid. With power utility Zesa Holdings struggling to meet its debt…

Published: 24 Nov 2024 at 10:14hrs | | by Staff reporter

Serial fraudster ordered to pay US$215,000 debt

HIGH Court judge Siyabona Musithu has ordered suspected con-artist Tawanda Denford Bondamakara to pay back US$215,000 in debt he incurred after he allegedly sold a non-existent piece of land to one Rumbidzai Bushu in 2021.Bondamakara, who …

Published: 22 Oct 2024 at 10:25hrs | 802 | 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 transforming the economy and unlocking greater in…

Published: 17 Oct 2024 at 08:57hrs | 2 | by Staff reporter

Zinara on course to clearing DBSA debt

The Zimbabwe National Road Administration (Zinara) has made significant progress in reducing its US$200 million debt with the Development Bank of South Africa (DBSA), now owing US$59 million. Zinara board chair George Manyaya reported this…

Published: 04 Jun 2024 at 11:54hrs | | by Staff reporter

Chissano meets Mnangagwa over debt clearance program

Former President of Mozambique, Joaquim Chissano, paid a visit to President Emmerson Mnangagwa on Monday to address political and socio-economic concerns affecting Zimbabwe. Chissano, who serves as the High-Level Facilitator for Zimbabwe's…

Published: 09 Apr 2024 at 06:25hrs | 1 | by Staff reporter

Zimbabwe debt clearance talks on despite US disengagement

THE United States, through its embassy in Harare, has decided to disengage from participation in Zimbabwe's debt resolution and clearance programme and the round of negotiations resuming next month.US ChargÃ© d'Affaires Ms Elaine French, i…

Published: 23 Jan 2024 at 04:37hrs | 2 | by Staff reporter

Zimbabwe arrears clearance, debt resolution talks resume

THE next round of high-level talks on Zimbabwe's arrears clearance and debt resolution process will be held next month, marking yet another pivotal moment in the country's quest to clear its international debt and unlock fresh sources of c…

Published: 21 Jan 2024 at 07:27hrs | | by Staff reporter

Bosso clubhouse water disconnecetd

HIGHLANDERS Football Club owes the Bulawayo City Council (BCC) over US$8 900 in unpaid rates resulting in the water supply being disconnected at the Highlanders clubhouse, a money-earning joint that is patronised by hundreds of soccer fans…

Published: 05 Jan 2024 at 06:01hrs | 16 | by Staff reporter

Man kills brother over US$20

A 19-YEAR-OLD man from Mabutweni bludgeoned his elder brother to death after accusing him of spending his share US$20 that came from rentals of their home.Bulawayo police spokesperson Assistant Insp Msebele said on August 5 this year the n…

Published: 08 Dec 2023 at 05:35hrs | 7 | by Staff reporter

Zimbabwe to clear its foreign debt by the end of 2025

ZIMBABWEAN Finance Minister Mthuli Ncube says Harare will do all it can to clear its foreign debt by December 2025 to open fresh lines of credit that would help in revamping the floundering economy.According to a debt bulletin released by …

Published: 07 Aug 2023 at 06:36hrs | 3 | by Staff reporter

TelOne chokes under ZWL$20.5 billion govt debt

TelOne is struggling to recover about ZWL$20.5bn in unpaid obligations by the government which has affected the viability of the State-owned fixed telecommunications network operator.The government, which is the major shareholder of TelOne…

Published: 06 Jul 2023 at 17:53hrs | 3 | 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 on raising its debt ceiling to avoid a…

Published: 26 May 2023 at 16:39hrs | 1 | by Staff reporter

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 efforts to clear Zimbabwe's crippling debt…

Published: 22 May 2023 at 06:40hrs | 2 | by Zeenat Hansrod

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, wrote to council on March 30 proposing the partners…

Published: 11 May 2023 at 05:33hrs | 3 | by Staff reporter

US$226 000 debt chokes Joice Mujuru

FORMER Vice-President Joice Mujuru and her company, Ruzirun Investments, are swimming in a US$226 000 debt incurred in 2015 and efforts to evade paying the debt have hit a brickwall at the Supreme Court.Mujuru and her company have been owi…

Published: 28 Mar 2023 at 06:48hrs | 2 | by Staff reporter

Debt financing to fund 2023 budget

Finance minister Mthuli Ncube says debt financing will be used to fund the $4,5 trillion 2023 national budget, raising concerns about money supply growth.Treasury expects $3,9 trillion in revenue supported by increased value-added and fore…

Published: 04 Dec 2022 at 08:11hrs | 1 | by Staff reporter

Why is debt tough in poor countries than US?

The debate on African development has been trapped between mismanagement by its leadership and those who argue that Africa is rising but its progress is waylaid by conditions it found itself in upon joining the global community at independ…

Published: 10 Oct 2022 at 06:09hrs | | by Tapiwa Gomo

Zesa cuts Maphisa off over debt

POWER utility, Zesa, has cut off electricity supplies to Old Antelope District Hospital in Maphisa, Matobo District, over tariff arrears amounting to $526 000.Although the facility has stopped serving as a hospital since 1997 following the…

Published: 23 Feb 2022 at 05:43hrs | 2 | by Staff reporter

Zimbabwe should refuse to repay colonial debt

THE Zimbabwean government is currently engaging with its creditors in order to reduce its external debt burden.Economic watchers argue that the country would be justified in repudiating the debt it inherited from the colonial era since the…

Published: 10 Jul 2021 at 10:56hrs | 3 | by Kudakwashe Matiza

The issue of Zimbabwe debt

THIS past Sunday, our church sermon was taken from Nehemiah Chapter 10 and focused on the instructions given to the tribes of Israel which had returned to Israel from exile in Babylon about 400 years before Christ. It is clear from this ac…

Published: 21 Oct 2020 at 21:50hrs | 1 | by Eddie Cross

Air Zimbabwe legacy debts spook investors

GOVERNMENT'S delay in moving on the Air Zimbabwe's US$381 million debt assumption plan continues to weaken the airline's chances of courting new partners, an official has said.Grant Thornton, the special administrator which now runs the af…

Published: 24 May 2019 at 07:37hrs | 1 | by Staff reporter

How did Zimbabwe end up with such toxic debts?

What I witnessed last Saturday at Zimbabwe's biggest hospital, Parirenyatwa, got me thinking.In the casualty unit, there was no doctor attending to patients from 5.30pm to 9pm. I saw patients on stretchers and wheelchairs groaning in pain …

Published: 05 Apr 2019 at 09:59hrs | | by Editorial _ The Independent

Forcing countries to pay debt in currency it denies them - that's the US!

ONE thing for sure is that Zimbabwe is not short of real original thinking to counter the West's capture of some Zimbabwean minds.Because of donor funding, too many politicians (naturally more so in the opposition), economists and others w…

Published: 15 Mar 2019 at 06:02hrs | | by Conway Tutani

Mthuli Ncube hits brick wall on debt clearance plan

FINANCE minister Mthuli Ncube is struggling to nail down the debt clearance roadmap which has been on the table since 2015 to clear urgent US$2,3 billion in arrears before securing game changing new funding, the Zimbabwe Independent can re…

Published: 08 Mar 2019 at 10:22hrs | 3 | by Staff reporter

Porter stabs colleague over $3 debt

A Murewa porter, Tendai Jakarasi was arrested on charges of stabbing his colleague on the chest following a heated argument over a $3 debt.Evans Mapfumo (27) is currently battling for life at Parirenyatwa Hospital after being stabbed by Ja…

Published: 18 Jul 2018 at 06:40hrs | | by Staff reporter

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Zimbabwe welcomes MCC, showcases sports tourism potential

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