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RBZ blacklists 11 firms over black market deals, overpricing
SIX contractors that were doing business with Government have been blacklisted by the Reserve Bank of Zimbabwe (RBZ)'s Financial Intelligence Unit (FIU) for trading on the foreign currency black marke...Published: 29 Jan 2023 at 07:42hrs | 2398 | by Staff Reporter
Headmaster accused of concocting exchange rates for fees
SOME parents with children attending Mangwara Primary School in Kariba have accused the school headmaster of allegedly threatening them whenever they question the exchange rate the school uses to char...Published: 25 Jan 2023 at 17:16hrs | 1220 | by Staff reporter
A guide to index performance when trading
Trading on the Johannesburg Stock Exchange (JSE) can be a great way to diversify your investments, but it's important to understand how the JSE index performs in order to make informed decisions. ...Published: 23 Jan 2023 at 16:21hrs | 140 | by Moyo Roy
Scud to be revived
LISTED beverages producer, Delta Corporation Limited has said it is planning to revive its Scud beer brand to cover supply gaps on the market."There are ongoing efforts to optimise the availab...Published: 20 Jan 2023 at 06:42hrs | 1339 | by Staff reporter
Econet among Africa's top 250 companies
Econet Wireless Zimbabwe and EcoCash Holdings Zimbabwe Limited have been named among Africa's top 250 companies by the African Business magazine.Every Year the African Business top 2...Published: 17 Jan 2023 at 16:21hrs | 389 | by Staff reporter
Zimbabwean Economy expected to curve-in further into 2023
The Economic Intelligence Unit (EIU), a global team of Economists with over 70 years of experience in Economic analysis has predicted a continued fall in Zimbabwe's Economy together with the value of ...Published: 30 Dec 2022 at 17:41hrs | 1714 | by Mzingaye Nxumalo
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 | 825 | by Victor Bhoroma
Tough foreign exchange regime suffocating economy
Zimbabwe's broad money supply has grown from just under ZW$364,60 billion as of September 2021 to more than ZW$1,920 trillion as of September 2022. This represents growth of over 426% over a period of...Published: 16 Dec 2022 at 00:02hrs | 411 | 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 | 227 | by Victor Bhoroma
Ramaphosa's stolen dollars linked to CIA?
South Africa and the world would have never known about President Cyril Ramaphosa's alleged illicit financial mess if the millions of US dollars had not been stolen from his Phala Phala farm.T...Published: 04 Dec 2022 at 08:16hrs | 6338 | by Staff reporter
Zimbabwe now one of the fastest growing African economies
ANALYSING Zimbabwe's unconventional economy always proves somewhat cumbersome because it is a country bridled with policy inconsistency, unfavourable operating conditions buoyed by decades of unilater...Published: 02 Dec 2022 at 19:32hrs | 1505 | by Respect Gwenzi
Chiwenga calls Zimbabwe hotels to order
VICE-PRESIDENT Constantino Chiwenga has warned operators in the hospitality industry against charging exorbitant rates which he said contributed to economic instability.Officially opening the ...Published: 02 Dec 2022 at 05:04hrs | 8020 | by Staff reporter
Mthuli Ncube rules out income tax relief
FINANCE minister Mthuli Ncube (pictured) says raising the income tax threshold again after the previous one in August would have been too soon because widening this tax relief further is dependent on ...Published: 02 Dec 2022 at 04:58hrs | 477 | by Staff reporter
Chamisa needs everybody's support and sacrifice
MANY factors can push a nation to embark on unstoppable demonstrations.Hunger is one of them. Closure of democratic space, if we read world history, can cause uprising and civil disobedience....Published: 30 Nov 2022 at 05:06hrs | 366 | by Isaac Mupinyuri
Mthuli Ncube raises VAT, restores duty on basics
Finance minister Mthuli Ncube unveiled his 2023 budget on Thursday, raising value added tax (VAT) in a move the main opposition Citizens Coalition for Change (CCC) described as "an attack on working p...Published: 25 Nov 2022 at 05:21hrs | 10496 | by Staff reporter
Civil servants get lion's share
SALARIES for civil servants are set to go up markedly after the Government allocated the biggest chunk of the 2023 National Budget towards the public sector wage bill to cushion workers from the negat...Published: 25 Nov 2022 at 05:05hrs | 518 | by Staff reporter
'Small gold coins will further anchor stability'
The introduction of small gold coins last week is expected to further stabilise the exchange rate, Reserve Bank of Zimbabwe (RBZ) governor Dr John Mangudya has said.Large-denomination bullion ...Published: 20 Nov 2022 at 15:34hrs | 85 | by Staff reporter
Zimbabwe starts disbursement of 4 500 small gold coins
THE Reserve Bank of Zimbabwe (RBZ) will tomorrow start disbursing 4 500 smaller units of Zimbabwe's Mosi-oa-Tunya gold coins to banks ahead of planned release of the bullion coins in the market on Tue...Published: 10 Nov 2022 at 04:54hrs | 411 | by Staff reporter
Bulawayo residents warned of 'pain' ahead
The City of Bulawayo has warned residents to anticipate "pain" in 2023 as economic instability continues to hamper service delivery by the local authority.Presenting the US$158 million budget ...Published: 01 Nov 2022 at 05:17hrs | 2582 | by Staff reporter
Zesa to bill in local, US dollars
WITH official and black market foreign currency exchange rates moving towards convergence, the Government is considering allowing customers to settle their electricity bills using either local currenc...Published: 23 Oct 2022 at 09:07hrs | 89 | by Staff reporter
RBZ projects 50% annual inflation rate by year end
A total of 10 400 gold coins have been sold to date, with companies dominating the buyers list in a development which has gone a long way in mopping up excess liquidity, Reserve Bank of Zimbabwe (RBZ)...Published: 22 Oct 2022 at 05:43hrs | 524 | by Staff reporter
Zimbabwe will keep world's highest interest rates into 2023
Zimbabwe will keep the world's highest benchmark interest rate of 200% into next year as it prioritises economic stability ahead of high growth rates, Finance Minister Mthuli Ncube said."I thi...Published: 17 Oct 2022 at 20:21hrs | 260 | by Staff reporter
Zimbabwe govt mulls national minerals reserve
Mining companies exploiting precious and high-value minerals in the country will now be required to cede a portion of their refined mineral produce to the Government as part payment of royalties under...Published: 09 Oct 2022 at 07:51hrs | 121 | by Staff reporter
Zimdollar notes are disappearing on the streets
October temperatures start to climb early in Harare, but by noon beverages vendor Davis Kugara is already counting his losses for the day.One after the other, many of his potential customers a...Published: 04 Oct 2022 at 22:15hrs | 3674 | by Staff reporter
Zimdollar, US dollar exchange rate cleavage narrows
THE narrowing of the gap between parallel market and official exchange rates from an elevated level of 140 percent in May to current levels of between five percent and 15 percent is a significant move...Published: 29 Sep 2022 at 05:56hrs | 1529 | by Staff reporter
'Toxicity' and 'hater' terms now used by those who don't want to hear the truth!
I have been there! It is only that we did not have such terms as 'toxicity' and 'hater' in my day - but, I have used or thought along those exact lines before.In my youth, I had a fair...Published: 28 Sep 2022 at 10:31hrs | 949 | by Tendai Ruben Mbofana
$9bn gold coins sold as individuals join rush
THE Reserve Bank of Zimbabwe (RBZ) says gold coins worth $9 billion have been sold since July this year, with individuals taking a significant chunk of the bullion, while the Monetary Policy Committee...Published: 28 Sep 2022 at 05:55hrs | 300 | by Staff reporter
Mnangagwa finally proves 'sanctions imposed on Zimbabwe' a big fat lie!
I have always asserted to my friends that, as much as state media is an insufferable drag to read or watch - due to the pathetic and disgraceful substandard work - but, most of the Zimbabwe regime's l...Published: 26 Sep 2022 at 09:31hrs | 4290 | by Tendai Ruben Mbofana
Zacc fails to account for expenses
The Zimbabwe Anti-Corruption Commission (Zacc), has failed to produce supporting documents to validate its expenditure in the previous year to auditor-general, Mildred Chiri, a situation that may have...Published: 25 Sep 2022 at 16:46hrs | 201 | by Staff reporter
Cartels bay for Mthuli Ncube's blood
PREDATORY cartels of "tenderpreneurs" preying on Zimbabwe's lax procurement systems, prejudicing government of millions of United States dollars, are baying for the blood of Finance minister Mthuli Nc...Published: 23 Sep 2022 at 19:26hrs | 7986 | by Staff reporter
Zimdollar shortage bites
THE government will today give an update on contracts it suspended last month pending a pricing review as pressure mounts for it to honour its obligations.Last month, as part of measures to sa...Published: 21 Sep 2022 at 06:02hrs | 2861 | by Staff reporter
Zimdollar to further strengthen?
The Zimbabwe dollar is likely to strengthen as extra strands in the policies to decrease the amount of local currency in bank accounts, while increasing the amount of foreign currency in official mark...Published: 20 Sep 2022 at 06:02hrs | 763 | by Staff reporter
Mthuli Ncube vows to punish government officials facilitating inflated tenders
FINANCE Minister, Mthuli Ncube has upped the anti- inflated- tender scams threatening to take disciplinary measures on any of the government officials found on the wrong side of facilitating such frau...Published: 19 Sep 2022 at 19:36hrs | 532 | by Staff reporter
Zimbabwe gold coins to be afforded by all
THE Government is planning to introduce smaller gold coins denominations amid revelations that at least Z$8 billion worth of the coins have been bought by locals since they were launched by the Reserv...Published: 18 Sep 2022 at 16:53hrs | 557 | by Staff reporter
Get Started with Forex Day Trading: Forex Trading Guide for Amateurs
Foreign exchange, sometimes known as "forex," is the exchange of currencies between buyers and sellers in a network at a specified price. It is a method used by people, businesses, and central banks t...Published: 16 Sep 2022 at 06:12hrs | 186 | by Staff reporter
CZI hails Zimdollar recovery
THE Confederation of Zimbabwe Industries (CZI) has backed the swift decline in monthly inflation alongside the recovery of the Zim$, saying the developments will go a long way in providing a strong ba...Published: 04 Sep 2022 at 07:57hrs | 1009 | by Staff reporter
'Zimbabwe poll fees too costly'
THE cost of contesting elections in Zimbabwe is now the highest in Africa, a data analysis of the new candidate nomination fees set by the Zimbabwe Electoral Commission (Zec) has shown.Zec's n...Published: 24 Aug 2022 at 06:44hrs | 494 | by Staff reporter
Mthuli Ncube turns screws on errant Govt departments
ALL ministries, Government departments and agencies have been given up to September 2 to submit due diligence reports on all contracts that were submitted as of July 31 but whose payments were suspend...Published: 24 Aug 2022 at 06:38hrs | 504 | by Staff reporter
Zimdollar depreciates by 5, 8% on the RBZ Foreign Exchange Auction
THE Zimdollar value has depreciated by 5, 8% against the greenback on the Reserve Bank of Zimbabwe (RBZ) Foreign Exchange Auction.Market watchers believe the development is a positive step whi...Published: 23 Aug 2022 at 19:49hrs | 715 | by Staff reporter
American economics says ZimStat is run by a clown
UNITED States professor of applied economics at Johns Hopkins University in Baltimore, Maryland, and senior fellow at the Cato Institute, Steve Hanke, has fiercely hit back at the Zimbabwe Statistical...Published: 21 Aug 2022 at 10:05hrs | 1552 | by Staff reporter
US economist says ZimStat boss talking 'rubbish'
AMERICAN economics professor Steve Hanke, who came under fire in Zimbabwe on Wednesday for cooking inflation data, has described the criticism as "rubbish" and defended his controversial formula....Published: 19 Aug 2022 at 06:44hrs | 593 | by Staff reporter
Zimdollar depreciation on parallel and RBZ markets eases
THE depreciation of the Zimbabwean dollar has begun to ease on both the parallel and official market following months of a sustained downward spiral which saw the local currency losing more than half ...Published: 18 Aug 2022 at 06:48hrs | 3154 | by Staff reporter
ZimStat debunks Steve Hanke's cooked data
TEMPERS flared over Zimbabwe's rioting inflation yesterday, with the country's chief statistician hitting out at an American economist and the media for querying the validity of data produced by his o...Published: 18 Aug 2022 at 06:46hrs | 617 | by Staff reporter
Mnangagwa gets tough on Government's procurement process
PRESIDENT Mnangagwa has spoken tough on the Government procurement process saying he is going to ensure that no public resources will be used to finance economic hitmen and women as has been the case ...Published: 14 Aug 2022 at 07:19hrs | 147 | by Staff reporter
RBZ strangles street money changers
They don't know what has suddenly hit them. It is no longer business as usual for most, if not all, illegal street money changers.They used to call the shots in the last few months, de...Published: 13 Aug 2022 at 07:23hrs | 1294 | by Staff reporter
Gold coins' sales hit ZW$3,7 billion, 90% sales in local currency
THE Reserve Bank of Zimbabwe (RBZ) has reported that gold coins' sales have to date reached ZW$3,7 billion with 90% sales being made in the local currency.Presenting the Mid-Term Monetary Poli...Published: 12 Aug 2022 at 20:30hrs | 452 | by Staff reporter
Chiwenga warns Innscor
A TENSE meeting between President Emmerson Mnangagwa and Innscor Africa shareholders over allegations of fuelling currency volatilities rocking the market had a chilling effect after Vice-President Co...Published: 12 Aug 2022 at 20:21hrs | 1034 | by Staff reporter
Retailers must reduce prices, says CCZ
THE Consumer Council of Zimbabwe (CCZ) has called on retailers to reduce prices of goods following a reduction in fuel prices.This follows a drop in petrol price from US$1,76 to US$1,60 per li...Published: 12 Aug 2022 at 06:37hrs | 460 | by Staff reporter
Payment for goods priced in black-market rates suspended?
All payments have been suspended for goods supplied to Government ministries, departments and agencies and possibly priced using black market exchange rates with procuring units now compelled to do du...Published: 12 Aug 2022 at 06:34hrs | 356 | by Staff reporter
Policy flaws chasing Forex from the formal market
It is estimated that US$2.5 billion is circulating outside the formal banking system in Zimbabwe with households, businesses and foreign investors preferring to store their hard-earned foreign currenc...Published: 11 Aug 2022 at 12:05hrs | 2170 | by Victor Bhoroma
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