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EcoCash overturns loss into profit
EcoCash Holdings Zimbabwe Limited (EHZL), a FINTECH company, successfully transformed its financial performance, turning a loss into a profit of ZWL$130.19 million after tax for the half-year ending A...Published: 13 Nov 2023 at 05:47hrs | 329 | by Staff reporter
Zimbabwe central bank must consider introducing a ZW$500 000 note
This week, a prominent price monitoring thinktank emphasized the need for the Reserve Bank of Zimbabwe (RBZ) to contemplate the introduction of a ZW$500,000 note as the Zimbabwean currency continues t...Published: 22 Oct 2023 at 14:06hrs | 504 | by Staff reporter
Zanu-PF will not fix the econmy
Economist Gift Mugano has issued a warning, stating that the ruling Zanu-PF government will face significant challenges in revitalizing Zimbabwe's economy in the aftermath of disputed elections....Published: 14 Sep 2023 at 06:32hrs | 433 | 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
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 | 5 | by Staff reporter
Mthuli's theatrics expose government lack of seriousness in addressing Zim economic crisis!
So, finance minister Mthuli Ncube, over the weekend, went around shops in Bulawayo, like a crazed vigilante, tearing down tags displaying prices strictly in US dollars!He even berated a haples...Published: 29 May 2023 at 23:02hrs | 9 | by Tendai Ruben Mbofana
Zimbabwe govt departments warned for dumping Zimdollar
Finance and Economic Development secretary George Guvamatanga has warned government departments to desist from giving preference to clients paying for services in US dollars as opposed to local curren...Published: 29 May 2023 at 06:43hrs | 9 | by Staff reporter
Zimbabwe's local currency hits new low
The Zimbabwe dollar (ZWL), the local currency of Zimbabwe, has kept losing ground against the U.S. dollar.After hovering just below 1,000 to the U.S. dollar on the Reserve Bank of Zimbabwe (RB...Published: 23 Apr 2023 at 08:00hrs | | by Staff reporter
US Dollars replaces Zimbabwe's currency for second time
The greenback has replaced the Zimbabwean dollar as the most-used currency in the southern African nation for a second time, almost four years after the re-introduction of the local unit.US do...Published: 07 Apr 2023 at 10:20hrs | 3 | by Staff reporter
Causes of food inflation in Zimbabwe
The World Bank recently released a report of the countries hardest hit by food inflation in the world. Zimbabwe tops that list with food inflation of 353% in the month of August 2022, beating Lebanon ...Published: 16 Dec 2022 at 00:11hrs | 19 | by Victor Bhoroma
Government policy destroying the formal economy
Policy missteps and inconsistency has turned the Zimbabwean economy on its head against the formal sector, posing a threat to business continuity, domestic resource mobilization and formal employment....Published: 16 Dec 2022 at 00:06hrs | 10 | by Victor Bhoroma
Zimbabwe macroeconomic priorities for 2023
Zimbabwe's treasury department presented a ZW$4.5 trillion budget (21% of 2021 GDP) for the 2023 fiscal year. The budget roughly translates to US$5.3 billion if the market exchange rate is used. As is...Published: 15 Dec 2022 at 23:53hrs | 18 | by Victor Bhoroma
Biti dismisses Mthuli Ncube's budget as 'power retention project'
HARARE East Member of Parliament (MP), Tendai Biti has said Finance Prof. Minister Mthuli Ncube should have dollarized the economy as the opposition politician condemned the 2023 budget as "cruel and ...Published: 25 Nov 2022 at 05:17hrs | 5 | by Staff reporter
Biti tells Guvamatanga to 'shut up'
FORMER finance minister, Tendai Biti, has told off current treasury permanent secretary, George Guvamatanga, after he claimed civil servants are better paid now that they were during the government of...Published: 28 Jun 2022 at 07:32hrs | 11 | by Staff reporter
CCC dismisses new Zimbabwe economy measures; says Chamisa-led govt only solution
Minister Mthuli Ncube (on Monday) announced measures that are meant to curb hyperinflation and stabilize (prices) as well as address the remuneration crisis in the civil service. The Reserve Bank also...Published: 28 Jun 2022 at 07:29hrs | 11 | by Fadzayi Mahere
Guvamatanga challenges claim Biti paid civil servants US$540 during GNU
FINANCE Ministry's permanent secretary, George Guvamatanga on Monday said current salaries being earned by the country's civil servants are much higher than the US$540 awarded at the peak of the dolla...Published: 28 Jun 2022 at 07:28hrs | 10 | by Staff reporter
Mthuli Ncube told his tricks are not working
LEGISLATORS took Finance Minister Professor Mthuli Ncube to task in Parliament Wednesday, challenging him over the government's "failed" NDS-1 economic blue-print and the administration's apparent lac...Published: 16 Jun 2022 at 08:34hrs | 8 | by Staff reporter
Dollarization will lead to 'very nasty' events for Zimbabwe
FINANCE minister Mthuli Ncube has said the banking sector will be wiped out, causing a cash crisis if Zimbabwe ever fully dollarizes.This follows growing calls for government to adopt the USD ...Published: 08 Jun 2022 at 18:15hrs | 8 | by Staff reporter
Why Zimbabwe's de-dollarization route flopped
The Zimbabwean government has announced measures to promote the wider use of the domestic currency (The Zimbabwean Dollar) in a last-ditch effort to save it from the re-dollarization onslaught. Part o...Published: 08 Jun 2022 at 07:08hrs | 247 | by Victor Bhoroma
FULL TEXT: Nelson Chamisa Workers' Day statement
WORKERS' DAY is a special day to appreciate, salute and celebrate the amazing efforts ,resilience and endurance of all the hard pressed workers who gave and continue to give their sweat and bloo...Published: 01 May 2022 at 18:37hrs | 17 | by Nelson Chamisa
Please tell me the president is also paid in Zim dollars!
As a truly patriotic Zimbabwean - who earnestly cares about this country's development and fellow citizens' welfare and wellbeing - I make every effort in...Published: 26 Apr 2022 at 20:33hrs | 3 | by Tendai Ruben Mbofana
'Mnangagwa will regret the day he appointed Mangudya, Mthuli Ncube,' says Biti
Former Zimbabwe Finance Minister Tendai Biti has said the move by the Reserve Bank to introduce a ZW$100 note is ill advised and a waste of time.Biti said the fact that the note can not buy an...Published: 09 Apr 2022 at 19:47hrs | 8 | by Staff reporter
Monetary Policy Analysis
The Reserve Bank of Zimbabwe (RBZ) presented its first monetary policy statement for 2022 on the 7th of February. The monetary policy comes after a 53.5% surge in foreign currency receipts from US$6.3...Published: 23 Feb 2022 at 19:41hrs | 13 | by Victor Bhoroma
Biti savages liar Mangudya
FORMER Finance Minister Tendai Biti has launched a scathing attack on RBZ governor John Mangudya, dismissing his claims that Zimbabwe does not have enough US dollars to dollarize as lies.Mangu...Published: 08 Feb 2022 at 18:15hrs | 8 | by Staff reporter
LEAD hails RBZ Governor Mangudya
The Labour Economists and Afrikan Democrats (LEAD) has hailed the Reserve Bank of Zimbabwe (RBZ) Governor Dr John Mangudya for paying attention to their concerns on the need to make the United States ...Published: 02 Sep 2021 at 10:34hrs | | by Stephen Jakes
Fact-checking Biti's corruption speech
Opposition MDC Alliance vice president and former finance minister Tendai Biti gave an online speech on corruption in Zimbabwe on July 18, 2021.Here, we check key claims from Biti's address:...Published: 26 Jul 2021 at 19:35hrs | 1 | by Staff reporter
SI 127 ghost still haunting economy
After passing Statutory Instrument (SI) 127 of 2021 on the 26th of May 2021, the Zimbabwean government made a quick summersault on the new regulations through a press statement issued by the Reserve B...Published: 14 Jul 2021 at 08:47hrs | 3 | by Victor Bhoroma
Auction market cannot end the parallel market
Despite launching the Dutch inspired Foreign Currency Auction System (FCAS) in June 2020 (Almost 1 year running), the Zimbabwean economy continues to face acute foreign currency shortages on the forma...Published: 19 Jun 2021 at 08:52hrs | 9 | by Port Louis Riverfront, Mauritius
Partial dollarization to induce economic stability
The Zimbabwean economy has vaulted back to the multi-currency regime that prevailed between 2009 and 2018 with the US Dollar transactions gradually growing in the formal market while dominating trade ...Published: 03 Nov 2020 at 14:25hrs | | by Victor Bhoroma
Rushed Zim Dollar introduction cost the economy
The Zimbabwean government recently gazetted the Finance Bill (H.B.4 of 2020) which validates the fiscal changes that were tabled in the Mid-Term budget review in July 2020. The Bill amends the Gains T...Published: 22 Sep 2020 at 18:17hrs | | by Victor Bhoroma
Policy inconsistency hurting economy
The Reserve Bank of Zimbabwe (RBZ) reintroduced the Zimbabwean Dollar and outlawed the use of multicurrencies on the local market on the 24th of June 2019, despite widespread concerns on burning the m...Published: 05 Aug 2019 at 09:12hrs | | by Victor Bhoroma
'We are not USA must use Z$' argue Professor Chakravarti - no common sense nor integrity, must shut up
"Ever since we dollarised, everybody has been benchmarking against the US dollars," said Zimbabwe economics lecturer Professor Ashok Chakravarti."We are not the United States of America, we ar...Published: 27 Jun 2019 at 21:31hrs | | by Patrick Guramatunhu
Tendai Biti claims abandonment of the multi-currency system is illegal
FORMER Finance Minister and legislator Tendai Biti has described the abandonment of the multi-currency system by government as a disaster while urging its reversal.The MDC MP for Harare East w...Published: 26 Jun 2019 at 07:31hrs | | by newzimbabwe
'ZANU PF now a threat to the country' says Biti
MDC Vice President Tendai Biti says the SI 142 of 2019 gazetted on Monday by Finance Minister Mthuli Ncube is the last straw that shall lead to the removal of ZANU PF from power. On Monday Ncu...Published: 25 Jun 2019 at 10:23hrs | 1 | by Mandla Ndlovu
10 Implications of de-dollarization and introduction of the Zim dollar
Wheels have finally come off as government has been cornered and forced to involuntarily de-dollarize without a plan.When government introduced bond notes we warned that the surrogate currency was bad...Published: 24 Jun 2019 at 21:01hrs | 15774 | by Tapiwa Mashakada and Miriam Mushayi
Zimbabwe now in de-facto dollarization
The persistent price volatility in the economy has left producers and retailers in Zimbabwe with very limited options apart from indexing their products in the US Dollar or pegging their RTGS prices u...Published: 02 Jun 2019 at 21:06hrs | | by Victor Bhoroma
Ministry of lands now charging in US Dollars
The Ministry of lands, agriculture, water, climate and rural resettlement has announced that from the effect of 29 May it is now charging in US Dollars for all its goods and services. A notice...Published: 30 May 2019 at 18:12hrs | | by Mandla Ndlovu
How Mugabe destroyed Zimbabwe
What do Slobodan Milosevic, Robert Mugabe, and Nicolás Maduro have in common? Other than being leaders who kept the Communist Manifesto at their bedside, all three ushered in devastating hyperinflati...Published: 14 May 2019 at 10:14hrs | 5412 | by Prof. Steve Hanke
Can Zimbabwe manage to de-dollarize
The Zimbabwean government has indicated that a local currency will be introduced in the next 12 months in a move widely believed to be a precursor to joining the Common Monitory Area (CMA), also refer...Published: 23 Apr 2019 at 15:18hrs | 6247 | by Victor Bhoroma
Can Zimbabwe manage to de-dollarise?
THE Zimbabwean government has indicated that a local currency will be introduced in the next 12 months in a move widely believed to be a precursor to joining the Common Monetary Area (CMA), also refer...Published: 19 Apr 2019 at 11:08hrs | | by Victor Bhoroma
The current monetary policy review will worsen current fiscal imbalances
Background and Review It was trajectory, forex premiums is hurting Zimbabweans and hostile to business environment. FCA accounts have yielded positive r...Published: 20 Feb 2019 at 17:25hrs | | by Tinashe Eric Muzamhindo
New Zim currency expected this week
Former Finance Minister Tendai Biti has revealed that government will be introducing a new currency this week as promised by current Finance Minister Mthuli Ncube that the country will soon adopt its ...Published: 11 Feb 2019 at 08:28hrs | 24307 | by Mandla Ndlovu
Panacea to Zim economy no fairy tale
As a child I used to like fairy tales because they had all the magic and stuff just happened so easy and everyone would be happy in the end, with ease. Take for instance the story of Aladdin and the m...Published: 11 Jan 2019 at 16:30hrs | | by Charles Motsi
Tendai Biti speaks on fuel crisis
MDC Deputy National Chairperson Tendai Biti says the fuel queues in Zimbabwe are the most bizarre ever seen and must be captured on camera and kept as a documentary as a reminder of the difficult phas...Published: 09 Jan 2019 at 08:40hrs | 1 | by Mandla Ndlovu
The cherry on top of the 2019 National Budget
There were recent media reports to the effect that confusion ensued at Zimbabwe's ports of entry, as luxury vehicle importers refused to pay excise duty in foreign currency in line with the new regula...Published: 26 Nov 2018 at 07:30hrs | | by Mapozho Saruchera
Emergency recovery measures to stop Zimbabwe economic free-fall
This article will be brief and straight to the point. There is no need to continue to pontificate on the political-economy of the country because we all know that after the 30th July elections the eco...Published: 23 Oct 2018 at 14:00hrs | 1 | by Dr Tapiwa Mashakada
The US Dollar or the South African Rand - Let's examine the facts
Dollarization, it has come as a popular term for currency substitution. This is a term mostly used when a foreign currency is used instead of the domestic currency as legal tender. In this instance, t...Published: 11 Oct 2018 at 09:32hrs | | by Dr. Tutsirai Sakutukwa
Zimbabwe: We rise and fall together
The prophets of 'scorched earth politics are at it again. Suddenly, according to their reading Zimbabwe is back to year 2008. What utter nonsense! The scenarios could never be more different. If we ar...Published: 10 Oct 2018 at 18:23hrs | | by Lloyd Msipa
To introduce or not to introduce domestic currency in the short run, that is the question!
By "To be or not to be" is the manner the literary genius William Shakespeare chose to employ as an opening of a soliloquy for Prince Hamlet in the play Hamlet. "To re-introduce or not to re-introduce...Published: 11 Sep 2018 at 16:08hrs | 1829 | by Prosper Munyedza
Mnangagwa: The morning after
The unprecedented military intervention brought euphoria to the masses they gave their future to the crocodile, I had believed in since childhood. Questions are still asked does the alligator ha...Published: 16 Mar 2018 at 06:36hrs | | by Simplisio Muvunde
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