Search / Expenditure
Biti led MPs blast Mthuli Ncube's supplementary budget
CITIZENS Coalition for Change (CCC) interim vice-president Tendai Biti yesterday criticised Finance minister Mthuli Ncube for constantly overriding Parliament following his announcement of a supplemen...Published: 17 Aug 2022 at 06:39hrs | 488 | by Staff reporter
MDC-Alliance MP taken to task over CDF
Mpopoma residents, Saturday, took to task their parliamentary representative, Charles Moyo, demanding proof of the amounts spent on development projects under the Constituency Development Fund (CDF)....Published: 15 Aug 2022 at 18:27hrs | 658 | 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 | 2133 | by Victor Bhoroma
Zimbabwe's cash-rich govt suppliers fuel currency volatility
GOVERNMENT procurement and service providers - who include public works contractors and suppliers of goods and services - are destabilising the foreign exchange market by offloading part of their stag...Published: 10 Aug 2022 at 08:40hrs | 1202 | by Staff reporter
Parly grills govt over US$9.6bn unauthorised expenditure
PARLIAMENT last week grilled ministry of Finance officials for failing to furnish the Auditor-General's office and the Parliamentary Public Accounts Committee (PAC) with adequate information justifyin...Published: 07 Aug 2022 at 18:49hrs | 157 | by Staff reporter
Ramaphosa goes after ANC's Pule Mabe
The Special Investigating Unit (SIU) is probing a company with alleged links to ANC spokesperson Pule Mabe over a waste picking tender it scored in 2017.This comes after President Cyril Ramaph...Published: 01 Aug 2022 at 07:54hrs | 8498 | by Staff reporter
No joy in Mthuli Ncube's budget
CALLS by Zimbabwe's restive civil service for United States dollar salaries went unheeded by Finance minister Mthuli Ncube yesterday.Ncube doubled the national budget to $1,9 trillion as a res...Published: 29 Jul 2022 at 06:54hrs | 2983 | by Staff reporter
Zimbabwe tax-free threshold doubled, bonus windfall for workers
The tax-free threshold for income tax was doubled to $50 000 a month yesterday by Finance and Economic Development Minister Mthuli Ncube as part of the doubling of all tax bands to improve disposable ...Published: 29 Jul 2022 at 06:46hrs | 710 | by Staff reporter
Harare-Beitbridge highway project: A new big step in the right direction
AS we turn right off the Harare-Beitbridge highway - just before the intersection of the Harare and Bulawayo arteries five kilometres north of Beitbridge Border Post on the banks of the Limpopo River ...Published: 25 Jul 2022 at 07:57hrs | 1071 | by Staff reporter
Zimra is now owed over $33 billion as defaults rise
THE Zimbabwe Revenue Authority (Zimra) has reported a 283,65% increase in debt to $33,25 billion in 2021 owing mostly to exporting firms indicating that the current tax regime remains too high for com...Published: 24 Jul 2022 at 10:01hrs | 161 | by Staff reporter
Zimra builds main office in Bulawayo
THE Zimbabwe Revenue Authority (Zimra) has started the construction of its main offices in Bulawayo, set to house all its operations as the tax collector seeks to improve efficiency.Work on th...Published: 24 Jul 2022 at 09:59hrs | 437 | by Staff reporter
Mthuli Ncube evades Parliament grilling
UNDERFIRE Finance minister Mthuli Ncube on Thursday dodged Senate after he was summoned to give a ministerial statement on the currency crisis, gold coins and state of the economy.Senate deput...Published: 23 Jul 2022 at 07:32hrs | 667 | by Staff reporter
Teachers now need to take decisive action if they desire to be taken seriously!
As our country's esteemed teachers leave their banks, shaking their heads in utter disbelief and disgust, at the continued brazen insults at the hands of their employer, after the recently promised 10...Published: 22 Jul 2022 at 21:56hrs | 442 | by Tendai Ruben Mbofana
Inflation wipes out govt budget
GOVERNMENT says it has failed to recruit teachers required to minimise the shortfall of educators at the country's public schools because inflation has wiped out the budget for theexercise....Published: 22 Jul 2022 at 06:44hrs | 577 | by Staff reporter
Postal, telecoms sector revenue up
TOTAL revenues for the country's postal and telecommunications sector increased by 11% to $43,5 billion during the first quarter of this year, despite depressed consumption, inflation, foreign currenc...Published: 22 Jul 2022 at 06:42hrs | 76 | by Staff reporter
Anger will not solve Zimbabwe's plight
ANGER doesn't solve anything. It builds nothing, but it can destroy everything," wrote one African-American lawyer and politician, Lawrence Douglas Wilder.As Zimbabwe battles to navigate a tre...Published: 14 Jul 2022 at 07:34hrs | 481 | by Staff reporter
'Mthuli Ncube's economic measures illegal'
LEGAL think tank Veritas has poked holes into recent measures announced by Finance Minister Mthuli Ncube to tame inflation saying they undermined Parliament's legislative role.In its latest Bi...Published: 13 Jul 2022 at 07:20hrs | 593 | by Staff reporter
Treasury releases $6m more for Lake Gwayi-Shangani
TREASURY has released a further $6 million to steer progress at the on-going construction of the Lake Gwayi-Shangani in Matabeleland North province as Government races towards finishing the strategic ...Published: 06 Jul 2022 at 18:04hrs | 248 | by Staff reporter
Mnangagwa's ailing govt splurges millions on ministers
GOVERNMENT will soon splurge millions of United States (US) dollars to buy luxury homes for Cabinet ministers and their deputies at a time President Emmerson Mnangagwa's administration is ...Published: 01 Jul 2022 at 19:45hrs | 2579 | by Staff reporter
nZondo Commission 'a useful distraction' from South Africa's pressing problems
Many South Africans have already drawn their conclusions regarding the judicial Commission of Inquiry into Allegations of State Capture, corruption and fraud in the Public Sector, including Organs of ...Published: 28 Jun 2022 at 19:50hrs | 403 | by Sipho Seepe
Gweru City Council grinding to a halt
A DIRE financial situation threatens to ground Gweru City Council (GCC)'s operations by September, unless drastic action is taken, Southern Eye has learnt.Speaking at a breakfast meeting hoste...Published: 28 Jun 2022 at 07:23hrs | 366 | by Staff reporter
NRZ looting unearthed
AN internal audit has uncovered corporate governance rot, and looting at ailing parastatal National Railways of Zimbabwe (NRZ) with board chairperson Martin Dinha (pictured) and his board allegedly bl...Published: 24 Jun 2022 at 08:20hrs | 2032 | by Staff reporter
Zimbabwe schools seek to peg fees in USD
SCHOOL authorities have appealed to Government to allow them to peg fees in United States dollars saying that is the only way they can remain afloat as their RTGS budgets are quickly eroded by inflati...Published: 24 Jun 2022 at 07:37hrs | 280 | by Staff reporter
Meikles disposes of Cape Grace Hotel
ZIMBABWE Stock Exchange-listed diversified group Meikles Limited has disposed of its strategic foreign asset, Cape Grace Hotel in Cape Town, South Africa, for about US$20 million, the Zimbabwe Indepen...Published: 17 Jun 2022 at 08:55hrs | 519 | by Staff reporter
Mthuli Ncube seeks condonation from Parliament
FINANCE minister Mthuli Ncube has appealed to Parliament for condonation for unauthorised expenditure amounting to $100,7 billion in 2020 and $6,8 billion for 2019.This is contained in the Fin...Published: 11 Jun 2022 at 09:10hrs | 299 | by Staff reporter
Gwanda mine raises US$8 million from Victoria Falls bourse
WITH only six months after officially listing on the Victoria Falls Stock Exchange (VFEX), Jersey domiciled gold producer, Caledonia Mining Corporation, which operates Blanket Mine in Gwanda, says the...Published: 09 Jun 2022 at 06:37hrs | 377 | by Staff reporter
Monetary policy inconsistency sinking economy
On the 17th of May 2022, the Reserve Bank of Zimbabwe (RBZ) issued a circular cancelling the order announced by the head of state on the suspension of bank lending one week earlier. The head of state ...Published: 08 Jun 2022 at 07:19hrs | 428 | by Victor Bhoroma
Zesa needs US$300m to address backlog
ZESA Holdings has a backlog of 305 000 domestic customers who need to have electricity connected to their homes, but requires a whooping US$300 million to connect all of them, a senior official has sa...Published: 06 Jun 2022 at 09:59hrs | 931 | by Staff Reporter
European Investment Bank warms up to Zimbabwe
The European Investment Bank (EIB) has availed about €40m to Zimbabwe banks within a year, which will go towards bailing out the country's SMEs and mid-cap companies, in a vote of confidence in the ...Published: 02 Jun 2022 at 09:04hrs | 3132 | by Staff reporter
Mthulisi Ncube reminded of PWDs
FINANCE minister Mthuli Ncube has been reminded to timely release funding for social services for people living with disabilities (PWDs).The reminder came during the 2022 national budget feedb...Published: 31 May 2022 at 06:29hrs | 487 | by Staff reporter
'75% of parents in Zimbabwe can't afford school fees'
PARENTS and guardians can no longer afford paying school fees with only 26% able to meet education expenses for their children, the Zimbabwe Statistics Agency (ZimStat) has said in its latest survey w...Published: 27 May 2022 at 06:44hrs | 368 | by Staff reporter
Civil servants plot massive demonstration against poor wages
CIVIL servants under the Zimbabwe Confederation of Public Sector Trade Unions (ZCPSTU) are this Friday set to march against government's continued reluctance to pay them in US dollars.Worries ...Published: 26 May 2022 at 06:29hrs | 2534 | by Staff reporter
Dollar o'clock: Should Zimbabwe axe its faltering currency again?
IN early 2019, Zimbabwe's central bank announced plans to bring back the Zimbabwe dollar as legal tender after a decade of using the US dollar and seven other international currencies because raging h...Published: 11 May 2022 at 09:11hrs | 407 | by Staff reporter
'Zimdollar volatility makes no sense'
The Reserve Bank of Zimbabwe (RBZ) believes disproportionate demand for the US dollar and lingering fears of hyperinflation are driving exchange rate volatility, as the country's currency should ordin...Published: 01 May 2022 at 11:05hrs | 211 | by Staff reporter
Red flag over murky govt vehicle deals
THE Zimbabwe Anti-Corruption Commission (Zacc) says it will not investigate various cases in which the government, local authorities and parastatals have been prejudiced through the non-delivery of mo...Published: 30 Apr 2022 at 16:25hrs | 837 | by Staff reporter
The departure of Stan Chartered: A case of Economic commitment
Few days ago, the Standard Chartered bank closed all it's branches in Zimbabwe, except a few remaining as they wind up their 120 year journey in the southern African nation. This came as a surprise, a...Published: 16 Apr 2022 at 19:56hrs | 970 | by Tinashe Eric Muzamhindo
Ghost Workers: A Testament of Government's Failure in Rationalising the Wage Bill: Zimcodd
The findings of the Auditor-General on the Appropriation Accounts, Finance and Revenue Statements and Funds Accounts for the financial year ending December 31, 2020, stated that approximately $2.5 bil...Published: 16 Apr 2022 at 19:37hrs | 156 | by Stephen Jakes
ZRP fails to submit financial books for audit
THE Zimbabwe Republic Police has for the past two years failed to present its books for 16 farms to the Auditor-General while the Police Service Commission has also failed to submit its annual report ...Published: 15 Apr 2022 at 19:21hrs | 424 | by Staff reporter
ZACC fails to account for over US$12m availed to it
The Zimbabwe Coalition of Debt and Development has expressed concerns that in a contradictory and dramatic irony that has left the country in shock, the Z...Published: 14 Apr 2022 at 08:03hrs | 1064 | by Stephen Jakes
Zacc admits its books were not in order
THE Zimbabwe Anti-Corruption Commission (Zacc) has admitted its books were in a mess when the Auditor-General (AG) Mildred Chiri audited them in 2019.In her 2020 audit of Zacc accounts, Chiri ...Published: 13 Apr 2022 at 06:40hrs | 165 | by Staff reporter
Potraz records increase in revenue
The Postal and Telecommunication Regulatory Authority of Zimbabwe (Potraz), recorded significant revenue growth in all service markets in 2021 but also spent a lot more.Presenting the 20...Published: 13 Apr 2022 at 06:35hrs | 24 | by Staff reporter
Failure to compensate white farmers will result in Zimbabwe debt ballooning; IMF warns
ZIIMBABWE's failure to compensate white former farmers as per agreement will result in the country's public debt bulging, the International Monetary Fund (IMF) has warned.The Bretton woods ins...Published: 11 Apr 2022 at 07:56hrs | 917 | by Staff reporter
Chiri report exposes police
POLICE are said to have failed to produce financial records for 16 farms to facilitate auditing for the past two years, a situation that has raised eyebrows.The revelations were made by the Au...Published: 11 Apr 2022 at 06:34hrs | 918 | by Staff reporter
Zimbabwe debt burden to worsen, claims IMF
THE International Monetary Fund (IMF) has warned that Zimbabwe's debt burden will worsen considerably due to the country's inability to compensate its displaced white former farmers, and the Reserve B...Published: 11 Apr 2022 at 06:34hrs | 287 | by Staff reporter
Govt depts, ministries fail to account for $1,3bn
THE Auditor-General (AG) Mildred Chiri has decried continued failure to account for public funds by ministries and government departments, which resulted in more than $1,3 billion expenditure not bein...Published: 11 Apr 2022 at 06:34hrs | 169 | by Staff reporter
Auditor-General redflags Bulawayo, Gweru councils
THE Auditor-General has red-flagged the Bulawayo and Gweru city councils for a host of misconduct, among them evading paying taxes, failure to account for millions of donations and selling stands to m...Published: 10 Apr 2022 at 08:14hrs | 118 | by Staff reporter
Zupco costs Zimbabweans $1,2 billion in 1 year
GOVERNMENT pumped up to ZWL$1,2 billion (US$10 million) to subsidise the Zimbabwe United Passenger Company (Zupco) in 2020 alone without any supporting documents, Auditor General Mildred Chiri has dis...Published: 09 Apr 2022 at 19:36hrs | 467 | by Staff reporter
Govt loses millions of dollars in vehicle scandal - Report
A VEHICLE scam has hit the government, with several ministries, including Information and Justice, spending millions of dollars in purchasing vehicles that were not delivered, in a development that ex...Published: 09 Apr 2022 at 11:16hrs | 1482 | by Staff reporter
Fuel scam rocks Zimbabwe Parliament
PARLIAMENT is failing to account for thousands of litres of fuel after leaving out serial numbers in its coupons disbursements, while also failing to provide documentation for its expenses in contrave...Published: 09 Apr 2022 at 11:15hrs | 1221 | by Staff reporter
Zimbabwe Anti-Corruption Commission fails to account for millions in state funds
IN a dramatic irony, Auditor-General Mildred Chiri says the Zimbabwe Anti-Corruption Commission (Zacc) has failed to properly account for millions of United States dollars which could have been misapp...Published: 09 Apr 2022 at 08:40hrs | 508 | by Staff reporter
Load More Stories
