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Why Mnangagwa cut short Mangudya's Zimbabwe Reserve Bank stay
PRESIDENT Emmerson Mnangagwa was yesterday forced to retire Reserve Bank of Zimbabwe (RBZ) governor John Mangudya a month earlier to give his successor room to come up with fresh measures to stabilise...Published: 9 hrs ago | 1390 | by Staff reporter
Mnangagwa cuts short Mangudya's term at RBZ
President Emmerson Mnangagwa on Thursday brought forward by a month the appointment of John Mushayavanhu as the new Reserve Bank of Zimbabwe governor, hoping to stem the collapse of the local currency...Published: 21 hrs ago | 1531 | by Staff reporter
Basics disappear from Zimbabwe shop shelves
ZIMBABWEAN retailers are struggling to restock locally produced goods using the local unit as manufacturers and wholesalers are turning them away in favour of those that pay in the United States dolla...Published: 15 Mar 2024 at 07:19hrs | 2544 | by Staff reporter
Go Beer to reopen in 8 months
GWERU mayor Martin Chivhoko has announced that the local authority's beer concern, Go Beer will commence production in November this year.Chivhoko said a memorandum of agreement had been signe...Published: 07 Mar 2024 at 05:09hrs | 393 | by Staff reporter
Zimbabwe govt workers starving
FUNERAL policies and medical aid contributions are gobbling up a huge chunk of civil servants earnings, leaving most of them with little for food, rent, school fees and transport, NewsDay has been inf...Published: 16 Feb 2024 at 05:02hrs | 1178 | by Staff reporter
Zimbabwe civil servants push for urgent meeting
THE Zimbabwe Confederation of Public Sector Trade Unions (ZCPSTU) has pleaded with Public Service minister July Moyo to convene an urgent National Joint Negotiating Council (NJNC) meeting to address c...Published: 15 Feb 2024 at 10:07hrs | 705 | by Staff reporter
Withdraw Zimdollar from circulation
GOOD day, President Emmerson Mnangagwa. Your Excellency, it is my conviction that the Zimdollar, all things considered, is a swine. It is the epitome of voodoo economics, based on implausible assumpti...Published: 14 Feb 2024 at 19:25hrs | 759 | by Cyprian Muketiwa Ndawana
Zimbabwe to use gold to back its currency
Zimbabwe is working on new measures to stabilise its local currency including linking the exchange rate to hard assets such as gold and creating a currency board, Finance Minister Mthuli Ncube said on...Published: 12 Feb 2024 at 11:31hrs | 2209 | by Staff reporter
Zimbabwe economy edges towards full dollarisation
THE economy is edging closer to full dollarisation amid reports that the informal sector is rejecting the dual pricing regime, exclusively selling in the United States dollar.Latest figures re...Published: 09 Feb 2024 at 06:58hrs | 507 | by Staff reporter
Zimbabwe family basket doubles to ZWL$6,2m
The family basket has nearly doubled to ZWL$6,2 million from ZWL$3,6 million in December due to the continued depreciation of the Zimdollar, the Consumer Council of Zimbabwe (CCZ) has said, spelling d...Published: 07 Feb 2024 at 04:46hrs | 365 | by Staff reporter
Zimbabwe forex policy chokes exporters
LISTED agricultural concern Ariston Holdings says the 25% export retention coupled with the huge disparity between the interbank exchange rate and the fair market rate used by suppliers is making some...Published: 31 Jan 2024 at 06:59hrs | 452 | by Staff reporter
Zimbabweans sink deeper into poverty
Zimbabweans are having to digging deeper into their pockets to buy basic commodities as the cost of living continues to rise with the food poverty line reaching ZWL$155 360,39 for a single perso...Published: 30 Jan 2024 at 07:47hrs | 328 | by Staff reporter
Zimdollar exchange rate bolts
MARKET watchers have predicted a gloomy 2024 outlook amid a galloping exchange rate, steep taxation and an ever tanking economy, NewsDay reported.As usual, this is heavily impacting on ordinar...Published: 08 Jan 2024 at 05:36hrs | 4993 | by Staff reporter
Zimbabwe govt urged to dollarise pensions
THE Zimbabwe National Union of School Heads (Zinush) has pleaded for the dollarisation of pensions as inflation continues to eat away the life savings of educators, condemning many to poverty after ye...Published: 27 Dec 2023 at 07:32hrs | 385 | by Staff reporter
Prices go 'haywire' during Zimbabwe festive season
A FRESH wave of price increases on basic goods and services has dampened the festive mood, stealing the cheer away from the majority of the country's citizens already struggling to make ends meet....Published: 15 Dec 2023 at 07:30hrs | 455 | by Staff reporter
Zimbabwe govt 'sabotaged' de-dollarisation plan, says Biti
Former Finance minister Tendai Biti has said government's forceful nature of its policies to adopt the volatile Zimdollar sabotaged plans to de-dollarise the economy .The local currency has be...Published: 04 Dec 2023 at 04:48hrs | 997 | by Staff reporter
Biti rips into Ncube's 'disastrous' budget
FORMER Finance minister Tendai Biti has described the 2024 budget as a disaster amid concerns that the proposed raft of taxes will deepen Zimbabwe's poverty levels and worsen the economic challenges....Published: 03 Dec 2023 at 17:33hrs | 317 | by Staff reporter
'Zimdollar here to stay'
GOVERNMENT says it will announce a clear and transparent roadmap towards de-dollarisation to avoid shocks that may hurt the economy and drive citizens deeper into poverty.The country was due t...Published: 17 Nov 2023 at 05:06hrs | 577 | by Staff reporter
Zimbabwe's crisis of an ineffective opposition and messiah politics
Late on Saturday night, I was sitting in a hotel room in Guangzhou, China, streaming the announcement of the results of the presidential race in Zimbabwe. Zimbabweans went to the polls on the 23rd of ...Published: 10 Sep 2023 at 15:05hrs | 830 | by Malaika Lesego Samora Mahlatsi
Zimdollar remains volatile
LOCAL financial service firm Fincent Securities Private Limited (Fincent) says the Zimbabwe dollar has lost significant value since the announcement of the disputed election results.From the e...Published: 10 Sep 2023 at 09:00hrs | 546 | by Staff reporter
Zimdollar firms, exchange premium widens
THE Confederation of Zimbabwe Industries (CZI) said this week the gap between the official and parallel market exchange rates widened to 41% last month as a result of stability in the official forex m...Published: 09 Sep 2023 at 08:51hrs | 835 | by Staff reporter
Why properties in Zimbabwe are overpriced
YOU probably have heard that properties in Zimbabwe are expensive, especially compared to regional peers like South Africa and Kenya.To substantiate this claim, a quick online survey on proper...Published: 09 Sep 2023 at 08:50hrs | 873 | by Rufaro Hozheri
Time for action, Mr Mnangagwa
President Emmerson Mnangagwa began his second and final term yesterday with the daunting task of uniting the nation after a disputed poll which observers said did not meet regional and international b...Published: 05 Sep 2023 at 06:18hrs | 260 | by Staff reporter
Zimbabwe companies edgy ahead of next week's elections
Zimbabwean companies – among them the local unit of South Africa-listed Nampak – are holding their breath as business uncertainty pervades the southern African country ahead of elections next week...Published: 19 Aug 2023 at 16:29hrs | 20 | by Staff reporter
Zimdollar depreciation scares Mthuli Ncube
FINANCE and Economic Development minister Mthuli Ncube is concerned about the depreciation of the local currency against the greenback as he drafts the national budget for 2024, fearing Zimbabwe's fis...Published: 18 Aug 2023 at 18:10hrs | 107 | by Staff reporter
Reserve Bank of Zimbabwe's external debt gives Treasury headache
TREASURY says taking over Reserve Bank of Zimbabwe (RBZ)'s external debt will make budget financing for the 2024 fiscal year difficult.On June 15, President Emmerson Mnangagwa issued Statutory...Published: 15 Aug 2023 at 06:34hrs | 22 | by Staff reporter
Zimbabwe workers scoff at reviewed tax threshold
WORKERS have scoffed at government's latest review of the tax-free threshold to $500 000 effective this month, saying there is nothing to celebrate when the majority are earning below that figure....Published: 11 Aug 2023 at 06:45hrs | 15 | by Staff reporter
Chamisa to free political prisoners, reform Judiciary
OPPOSITION Citizens Coalition for Change (CCC) leader Nelson Chamisa says he will free all political prisoners and the Judiciary from State capture, as part of his key deliverables in 100 days once el...Published: 10 Aug 2023 at 06:45hrs | 17 | by Staff reporter
Zimbabwe govt increases tax-free threshold
GOVERNMENT has increased the tax-free threshold to $500 000 from $91 000 with effect from August 1 to boost Zimbabweans' disposable incomes who earn in local currency in the face of a rising cost of l...Published: 10 Aug 2023 at 06:43hrs | 162 | by Staff reporter
Zimbabwe govt loses battle on the redollarisation of salaries
THE government has issued a circular allowing public entities to pay salaries and allowances partly in United States dollars, in a development that shows the state is losing the war of redollarisation...Published: 27 Jul 2023 at 20:31hrs | 26 | by Staff reporter
Government says NO to payment of bills in forex
THE directive late last week by the Government that all local councils must continue charging in local currency as opposed to United States dollars as had just been announced by the Harare City Counci...Published: 03 Jul 2023 at 07:08hrs | 19 | by Staff rporter
Mnangagwa dangles boreholes in campaign
PRESIDENT Emmerson Mnangagwa yesterday went a gear-up in his election promises pledging to drill forty boreholes at every district where he addresses a Zanu-PF campaign rally.Mnangagwa made th...Published: 02 Jul 2023 at 07:46hrs | 14 | by Staff reporter
Mthuli Ncube's bag of tricks running on empty
"FOOL me once, shame on you; fool me twice, shame on me."Basically, the famous English saying denotes that after being tricked once, one should learn from their experience and avoid being tric...Published: 29 Jun 2023 at 06:43hrs | 17 | by Staff reporter
Why Mnangagwa failed to improve Zim's economic prospects
IT is now more than five years since President Emmerson Mnangagwa assumed power with a mandate from his backers to improve the country's economic fortunes, the nemesis of his predecessor, Robert Gabri...Published: 29 Jun 2023 at 06:29hrs | 15 | by Martin Majaji
'Zimdollar will never die'
ZIMNAT Asset Management says the Zimbabwe dollar, which has lost 99% of its value since it was reintroduced in 2019, will not collapse, but rather get relegated to low value transactions.At th...Published: 21 Jun 2023 at 06:24hrs | 19 | by Staff reporter
'Full dollarisation suicidal for Zimbabwe'
THE Reserve Bank of Zimbabwe (RBZ) has warned against full dollarisation as the economy battles exchange rate volatility which has triggered astronomical price hikes.In 2008, the country ditch...Published: 20 Jun 2023 at 18:39hrs | 7 | by Staff reporter
'US dollar appetite cannot be satisfied in Zimbabwe'
WHILE Zimbabwe has enough foreign currency, the country's major challenge is not money supply but liquidity because a small percentage of the population has foreign currency while the generality of ci...Published: 20 Jun 2023 at 06:49hrs | 4 | by Staff reporter
Fuel smuggling hampers growth
FUEL smuggling into Zimbabwe is hampering the Government's revenue collection, and has become a threat to economic growth, despite tax and law enforcement authorities' efforts to curb the scourge....Published: 20 Jun 2023 at 06:46hrs | 3 | by Staff reporter
Dollarisation key at this juncture
THE instability in the country's macroeconomic environment is a serious cause for concern and solutions should be sought as a matter of urgency.Macroeconomics is a branch of economics that stu...Published: 15 Jun 2023 at 06:49hrs | 1 | by Johannes Marisa
Mnangagwa rallies Zanu-PF storm troopers
PRESIDENT Emmerson Mnangagwa yesterday rallied the Zanu-PF election machinery, including liberation war veterans and youths, to take charge of the ruling party's campaign ahead of the August 23 polls....Published: 14 Jun 2023 at 06:39hrs | 3 | by Staff reporter
Protests loom over Zimdollar implosion
Workers unions are agitating for a nationwide strike over the continued economic implosion that has been characterised by the spectacular collapse of the Zimbabwe dollar.The country is facing ...Published: 11 Jun 2023 at 21:34hrs | 12 | by Staff reporter
ZITF seeks refuge from currency crisis
THE Zimbabwe International Trade Fair (ZITF) Company has proposed to pay its utility bills to the Bulawayo City Council (BCC) four months in advance citing a free-falling local currency.The lo...Published: 11 Jun 2023 at 21:33hrs | 1 | by Staff reporter
RBZ in bid to calm run on banks over currency fears
The Reserve Bank of Zimbabwe on Friday sought to calm a run on banks, insisting that depositors' funds were safe.Thousands of panicky Zimbabweans lined up in bank queues to withdraw their Unit...Published: 10 Jun 2023 at 17:53hrs | 6 | by Staff reporter
'Shut down RBZ's irrelevant forex auction system'
ECONOMIC analysts this week said the central bank must close the foreign exchange auction system, saying it was no longer serving its purpose.The Reserve Bank of Zimbabwe (RBZ) last month limi...Published: 09 Jun 2023 at 06:33hrs | 6 | by Staff reporter
'RBZ directive to trigger more power cuts'
EXPERTS have warned of more power outages after the central bank ordered non-exporters to settle their energy bills in Zimbabwean dollars in a bid to keep the under-fire local currency relevant....Published: 09 Jun 2023 at 06:33hrs | 1 | 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 | 1 | by Staff reporter
Mnangagwa threatens to legislate against foreign currency use
PRESIDENT Emmerson Mnangagwa has, in a yet-to-be-aired interview, declared Zimbabwe will continue using its waning currency despite it fast-losing value.In snippets of the interview shared by ...Published: 02 Jun 2023 at 06:43hrs | 1 | by Staff reporter
'Zimbabwe has no capacity for full dollarisation'
RESERVE Bank of Zimbabwe (RBZ) Governor, Dr John Mangudya, has urged Zimbabweans to embrace the local currency saying the country has no capacity to sustain a fully dollarised economy.While th...Published: 02 Jun 2023 at 06:42hrs | 3 | by Staff reporter
'Dump Zimdollar'
ECONOMIC analysts have said Finance minister Mthuli Ncube's new measures introduced on Monday have very little chance of saving the Zimbabwe dollar from collapse.They instead advised Ncube to ...Published: 01 Jun 2023 at 06:47hrs | 2 | by Staff reporter
ConCourt backs RBZ on US dollar conversion
The 2018 decision by the Reserve Bank of Zimbabwe (RBZ) to convert all US dollar balances in Zimbabwean bank accounts to local currency was quite constitutional the Constitutional Court ruled yesterda...Published: 01 Jun 2023 at 06:40hrs | 1 | by Staff reporter
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