Bulawayo24 News - Skyes! "it makes perfect sense"

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 | | 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

Zimbabwe adopts multi-pronged strategy to manage debt

Zimbabwe is pursuing a multi-faceted approach to address its US$21 billion debt obligations, with the government considering leveraging the country's abundant natural resources as part of the solution, Finance, Economic Development and Inv…

Published: 14 Jul 2025 at 07:47hrs | 253 | 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 | 250 | 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 | 220 | 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 | 224 | 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

AfDB says Zimbabwe seeks $2.6bn in bridge finance to overhaul debt

The African Development Bank said Zimbabwe has proposed seeking $2.6 billion in bridge finance to help it clear arrears owed to international financial institutions as it attempts to break a debt impasse dating back to 1999.The southern Af…

Published: 24 Apr 2025 at 21:18hrs | 133 | by Staff reporter

Zimbabwe's debt unsustainably high

The International Monetary Fund (IMF) has warned that Zimbabwe's debt and external arrears remain unsustainably high, forcing the country to rely on its own resources to fund economic activities.This development follows Zimbabwe's prolonge…

Published: 16 Feb 2025 at 07:42hrs | 427 | 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

'Loan shark' seizes vehicle over US$60 debt

Isaac Matinyarare, an alleged illegal money lender from Chiredzi, is accused of forcibly confiscating a silver Nissan Sulphy Bluebird from Phillip Mafuta over a disputed US$60 debt. Mafuta told The Mirror that Matinyarare took the vehicle …

Published: 06 Dec 2024 at 13:07hrs | 323 | by Staff reporter

Zimbabwe charts ambitious return to global finance at debt conference

Zimbabwe's president hosted creditors and finance executives on Monday to discuss ambitious goals to clear debt arrears and restructure $12.7 billion in external debt, as the country aims to eventually tap international capital markets for…

Published: 26 Nov 2024 at 08:22hrs | 215 | 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 | 11750 | by Staff reporter

Zinwa loses bid to block arbitrator in debt row

The High Court has rejected an application by the Zimbabwe National Water Authority (Zinwa) to set aside an arbitration ruling in a case where the authority is accused of refusing to pay a service provider.Zinwa had sought to block the arb…

Published: 19 Nov 2024 at 08:53hrs | 263 | 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

Jeys Marabini dismisses Mazibuko debt claims

Celebrated musician Jeys Marabini has dismissed allegations made by former modelling coach Sipho Mazibuko, who claimed he owes her money stemming from events that occurred in the early 2000s. Mazibuko took to a WhatsApp group earlier this …

Published: 20 Oct 2024 at 14:07hrs | 148 | by Staff reporter

Zimbabwe paying Ian Smith regime debt used for fighting liberators

Zimbabwe has been burdened with a staggering $700 million debt incurred during the Ian Smith regime, primarily used for purchasing weapons to suppress liberation efforts, according to researcher and Australian health practitioner Jane Wood…

Published: 18 Oct 2024 at 10:25hrs | 923 | 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 | 198 | by Staff reporter

Zimbabwe hires Rothschild advisers over $21 Billion defaulted debt pile

Zimbabwe's government has hired financial and legal advisers to help it navigate potential talks with international creditors over the $21 billion it owes, according to people familiar with the matter.Paris-based boutique firm GSA & Co…

Published: 10 Oct 2024 at 12:22hrs | 553 | by Staff reporter

Conundrum in SA tax law interpretation

The Constitutional Court has decided not to have the final say on the meaning of the crucial string of words - "bona fide inadvertent error" - even though the correct interpretation is of public importance.It is of public importance becaus…

Published: 09 Oct 2024 at 07:17hrs | 140 | by Staff reporter

7 countries at risk of bankruptcy

About seven developing countries are currently in danger of facing bankruptcy or in need of a bailout due to piling debt which is slowly gearing towards a default level.Countries can file for bankruptcy when the debt burden overwhelms the …

Published: 09 Oct 2024 at 07:16hrs | 660 | by Staff reporter

Zimbabwe's ballooning US$21 billion debt spirals out of hand

Citizen Coalition for Change (CCC) Mbizo Member of Parliament (MP), Corban Madzivanyika, has raised alarm over Zimbabwe's escalating public debt, which has now surpassed US$21 billion. During a recent debate on the 2024 Mid-term Budget and…

Published: 15 Sep 2024 at 10:06hrs | 1866 | by Staff reporter

Gweru unleashes debt collectors on defaulters

The Gweru City Council has announced that it will employ debt collectors to pursue ratepayers who have defaulted on their payments for more than two months. In a statement released on September 10, the council urged residents with outstand…

Published: 12 Sep 2024 at 07:15hrs | 121 | 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 | 19 | 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 set to balloon

ZIMBABWE is set to finance its 2024 total budget financing gap of ZWL$9,2 trillion through domestic and external borrowing, a development that will further sink the country deep into debt.According to the latest annual borrowing plan relea…

Published: 28 Feb 2024 at 06:28hrs | 4 | by Staff reporter

Business Scaling: When is the right time?

Business scaling refers to expanding a business in a sustainable and manageable way. Unlike simple business growth, which can be unplanned or organic, it's a deliberate and strategic effort to increase a business's size and revenue while k…

Published: 16 Feb 2024 at 09:34hrs | 27 | by Staff Reporter

Gweru to engage debt collector

THE Gweru City Council (GCC) has resolved to engage a debt collector in a bid to force residents and ratepayers to settle their monthly bills and help recover the nearly $71 billion owed by its clients.The council has expressed concern ove…

Published: 26 Jan 2024 at 04:43hrs | 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 | 3 | 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

Hwange Colliery pays off US$350m debt

ZIMBABWE'S oldest coal producer, Hwange Colliery has repaid over US$350 million to creditors in fast-paced deals executed by external administrators since slipping into reconstruction over a year ago, the Zimbabwe Independent has been told…

Published: 15 Dec 2023 at 07:52hrs | 1 | by Staff reporter

Zimbabwe central bank fails to pay Equatorial Guinea debt for 40MW solar project

The Reserve Bank of Zimbabwe (RBZ) has reportedly failed to fulfill part of its debt to Equatorial Guinea for a local investment in a 40MW solar project in Bwoni Village, Seke District, according to information presented in the High Court.…

Published: 08 Dec 2023 at 05:39hrs | 19 | by Staff reporter

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Maswerasei blasts Chamisa

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Ex-Bosso CEO found guilty of US$2,000 fraud