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Zimbabwe finance ministry bans foreign trips
The Zimbabwean government is tightening its belt in response to a severe cash crunch as it approaches the end of 2024. Finance Secretary George Guvamatanga has announced measures aimed at curbing spen...Published: 18 Nov 2024 at 15:24hrs | 5499 | by Staff reporter
Zimbabwe cuts some spending items as ZiG drop hits budget
Zimbabwe's currency devaluation is forcing the government to cut spending on certain budget items.The country's Treasury asked government departments to prioritize their spending commitments f...Published: 18 Nov 2024 at 15:08hrs | 150 | by Staff reporter
CCC activist acquitted for assaulting village head
Citizens Coalition for Change (CCC) activist Wilson Guvamatanga, 62, walked out of the Gutu Magistrate Court smiling today after being acquitted of assault charges in a case that highlighted ongoing t...Published: 04 Nov 2024 at 13:44hrs | 231 | by Staff reporter
Mthuli Ncube's Ministry fails to provide Zimbabwe's basic economic data
Officials from Zimbabwe's Ministry of Finance faced sharp criticism on Monday during a Parliamentary Portfolio Committee on Budget and Finance meeting after arriving unprepared for the 2025 budget con...Published: 23 Oct 2024 at 15:58hrs | 256 | by Staff reporter
Zimbabwe is undermining the ZiG by overspending
Zimbabwe's new gold-backed currency is likely being undermined by the state tapping the central bank for funding and selling Treasury bills to pay for its overspending, Imara Asset Management said....Published: 18 Oct 2024 at 08:54hrs | 1264 | by Staff reporter
George Guvamatanga rules out Zimbabwe exchange-rate convergence
Zimbabwe won't allow the street rate of the ZiG to determine where its official rate should be as it isn't driven by market fundamentals, a senior Treasury official said.The ZiG is trading at ...Published: 18 Oct 2024 at 08:53hrs | 1701 | by Staff reporter
Mnangagwa's govt paying lip service to ZWG
In a critical assessment of Zimbabwe Gold (ZWG), industry experts predict that the future post-mortem will reveal the government's own policies as the primary culprit behind the currency's struggles. ...Published: 20 Sep 2024 at 08:02hrs | 460 | by Staff reporter
Zimbabwe economic saboteurs go after Finance ministry?
Despite the significant strides made by Zimbabwe's Second Republic in reviving the economy and spearheading widespread infrastructural development, detractors continue to work hard to discredit these ...Published: 13 Sep 2024 at 08:01hrs | 651 | by Staff reporter
Guvamatanga faces scrutiny over South African properties
George Guvamatanga, the Permanent Secretary of the Ministry of Finance, is under investigation following revelations of his extensive property portfolio in South Africa. This development has raised si...Published: 10 Sep 2024 at 08:25hrs | 10029 | by Staff reporter
Zimbabwe must be bold in FDI drive
Finance, Economic Development, and Investment Promotion Permanent Secretary George Guvamatanga has disclosed that the government has been inundated with demands from prospective investors seeking Zimb...Published: 09 Sep 2024 at 08:24hrs | 100 | by Staff reporter
Zimbabwe govt intervenes to end dual pricing
The government is closely monitoring businesses that are manipulating the exchange rate by using black market rates instead of the official ZiG currency rate. This practice undermines the ZiG, which i...Published: 05 Sep 2024 at 17:07hrs | 6034 | by Staff reporter
Zimbabwe to remove VAT on meat?
Zimbabwe is set to see price cuts on meat and poultry products following a recent policy change that eliminates Value Added Tax (VAT) on these items. This decision, confirmed by Finance Ministry perma...Published: 28 Aug 2024 at 13:31hrs | 534 | by Staff reporter
Mnangagwa must fire Mthuli, Mushayavanhu & Guvamatanga, says Zanu-PF activist
South African-based Zanu-PF supporter Kudzai Mutisi has urged President Emmerson Mnangagwa to remove Minister of Finance, Economic Development and Investment Promotion Mthuli Ncube, the Ministry's per...Published: 22 Aug 2024 at 14:59hrs | 3800 | by Staff reporter
Zimbabweans use gold-backed ZiG to pay for 40% of transactions
Zimbabweans are using the nation's gold-backed currency for 40% of payments compared with 20% when it first started in April, Finance Permanent Secretary George Guvamatanga said.The ZiG - an a...Published: 22 Aug 2024 at 07:26hrs | 521 | by Staff reporter
ZiG registers gradual growth in transactions
Zimbabwe has seen significant growth in the use of the Zimbabwe Gold (ZiG) currency in domestic transactions since its introduction in April 2024. According to Finance, Economic Development, a...Published: 22 Aug 2024 at 07:04hrs | 159 | by Staff reporter
Zimbabwe treasury defends transit fuel tax
THE new import duty for fuel tankers in transit, paid on entry and refunded on exit, was necessary to curb the abuse of the electronic cargo tracking system, the Permanent Secretary for Finance, Econo...Published: 22 Aug 2024 at 06:28hrs | 239 | by Staff reporter
Guvamatanga faces censure over outburst
The Public Accounts Committee (PAC) plans to summon Finance and Economic Development Ministry Permanent Secretary George Guvamatanga to Parliament over his criticism of the recent auditor general's re...Published: 04 Aug 2024 at 14:10hrs | 1519 | by Staff reporter
Treasury criticizes AG
Finance Secretary George Guvamatanga has criticized the Auditor General's (AG) report on undelivered motor vehicles, calling it "misdirected" and claiming that the issues it raised were already known ...Published: 23 Jul 2024 at 07:22hrs | 346 | by Staff reporter
CCC activist 'assaults' village head over food
A CCC activist from Guvamatanga Village, Ward 35 in Gutu Central has appeared in court facing allegations of assaulting a village head who had refused him food aid from the Social Welfare Department....Published: 13 Jul 2024 at 12:29hrs | 21 | by Staff reporter
Zimbabwe launches corruption bait manual for cartels
In its quest to lure cartels into spreading their looting operation spree on devolution resources (funds), the Zimbabwean government on Wednesday launched an intergovernmental fiscal transfers system ...Published: 11 Jul 2024 at 14:29hrs | 46 | by Gideon Madzikatidze/Simbarashe Sithole
Zimbabwe's civil servants long for GNU days
ZIMBABWE Prison and Correctional Service (ZPCS) officer Mbekezeli Dube* sits hunched over his desk in his discoloured uniform.The once-vibrant green shade is now a pale shadow of its former se...Published: 06 Jul 2024 at 11:48hrs | 16 | by Staff reporter
Mnangagwa fires Guvamatanga, then changes mind
President Emmerson Mnangagwa sacked finance secretary George Guvamatanga last week but then had a change of heart after he made a groveling apology, and following further representations by chief cabi...Published: 01 Jul 2024 at 10:56hrs | 9 | by Staff reporter
IMF says Zimbabwe's economy continues to show resilience
In light of new policy developments, an International Monetary Fund (IMF) staff team led by Mr. Wojciech Maliszewski conducted a second mission to Harare during June 18-27, 2024, to conclude the 2024 ...Published: 28 Jun 2024 at 13:01hrs | 4 | by Staff reporter
ZEC paid US$5.4 million for fancy V11 display boxes that it never used
The Zimbabwe Electoral Commission (ZEC) splurged US$5 million on gadgets to display digital V11 polling station forms for last August's elections - but the devices, bought at inflated prices, were onl...Published: 28 Jun 2024 at 09:16hrs | 1 | by Staff reporter
Stability of Zimbabwe's currency prompts scrapping of stock market rule
The stability of Zimbabwe's new currency, the ZiG, has prompted authorities to scrap a rule in place since 2022 that requires investors on its main bourse to hold onto stocks for a period of 180 days ...Published: 14 Jun 2024 at 15:19hrs | | by Staff reporter
Zimbabwe's public service workers to pay pension in foreign currency
The Treasury has announced that all public service workers earning in foreign currency must now make their pension contributions in the same currency, starting this year, as per the directive from the...Published: 03 Jun 2024 at 09:31hrs | 44 | by Staff reporter
Zimdollar remains legal tender until month-end
The Zimbabwe dollar remains legal tender for all domestic transactions until April 30, when the Zimbabwe Gold (ZiG) notes and coins will come into circulation, the Reserve Bank of Zimbabwe (RBZ) has s...Published: 10 Apr 2024 at 06:02hrs | 1 | by Staff reporter
Mnangagwa inspects Zimbabwe's gold reserves
President Emmerson Mnangagwa conducted an inspection of the Reserve Bank of Zimbabwe (RBZ) vaults on Thursday, where officials informed him that Zimbabwe possesses 1.1 tonnes of gold.This visi...Published: 04 Apr 2024 at 21:16hrs | | by Staff reporter
Mnangagwa's third-term bid gathers pace
THE dolling out of top-of-the-range all-terrain vehicles to 100 chiefs from across the country by the government has raised eyebrows amid revelations that the traditional leaders are being rewarded fo...Published: 11 Mar 2024 at 09:08hrs | | by Staff reporter
Zupco's marriage with contracted buses extended
Zupco's contracts with private bus owners, due to end yesterday, have been extended for another month under better conditions as negotiations are still underway.A committee has since been set ...Published: 02 Mar 2024 at 07:46hrs | | by Staff reporter
Government scraps Zupco service contract
THE Government has terminated the service contract with the Zimbabwe United Passenger Company (Zupco) to provide urban mass transport which was gobbling US$6 million a month, saying the company has be...Published: 25 Feb 2024 at 07:14hrs | 1 | by Staff reporter
'Bulawayo 80% forex rates illegal'
GOVERNMENT has said the decision by the Bulawayo City Council to force residents and businesses to pay 80 percent of rates strictly in foreign currency is illegal and ordered the local authority to re...Published: 20 Feb 2024 at 05:04hrs | 1 | by Staff reporter
Zupco terminates contracts for urban buses
THE Zimbabwe United Passenger Company (Zupco) has initiated a process of terminating its contracts with private owners of buses plying urban routes.The move comes as the remaining buses on con...Published: 16 Feb 2024 at 04:57hrs | | by Staff reporter
Mbudzi interchange fund looted
Several directors at the Ministry of Transport have been quizzed by anti-graft investigators after whistle blowers leaked explosive details linking them to the pillage of a fund meant to compensate ow...Published: 14 Jan 2024 at 20:50hrs | 17 | by Staff reporter
Mr Mnangagwa where are the ZUPCO buses purchased in 2019?
The Citizens Coalition for Change raises critical questions surrounding the fate of ZUPCO buses reportedly bought and commissioned by Mr. Mnangagwa in 2019, as citizens grapple with transport challeng...Published: 12 Jan 2024 at 06:22hrs | | by Staff reporter
Zimbabwean firm develops 120 passengers seater bus
Returning to innovative solutions to help beat Zimbabwe's urban public transport woes, AVM Africa (Pvt) Ltd has developed a prototype 120-seater bus to provide the most cost-effective solutions on bus...Published: 05 Jan 2024 at 05:49hrs | 11 | by Staff reporter
1 000 more buses for Zupco
Treasury will procure more than 1 000 buses in the next two years, with 250 of them being available in the first quarter of next year, and 50 of those being electric vehicles running off batteries, as...Published: 18 Dec 2023 at 04:53hrs | 9 | by Staff reporter
Mnangagwa ruined Zanu-PF business empire
THE predictable appointment of FBC Holdings chief executive John Mushayavanhu as the incoming Reserve Bank of Zimbabwe (RBZ) governor has completed President Emmerson Mnangagwa's critical post-electio...Published: 12 Dec 2023 at 18:00hrs | 5 | by Staff reporter
Mnangagwa tightens his grip on levers of Zimbabwe's Treasury
WITH his close business ally John Muyashavanhu now confirmed as the incoming Reserve Bank of Zimbabwe (RBZ) governor, George Guvamatanga as Finance permanent secretary — chief accounting officer of ...Published: 12 Dec 2023 at 17:58hrs | 1 | by Staff reporter
Zimbabwe civil servants get bonuses
CIVIL servants have started receiving their 2023 annual bonuses and the first group comprising those in the security services received their 13th cheque on Tuesday, as the Second Republic moves to ful...Published: 16 Nov 2023 at 05:03hrs | 1 | by Staff reporter
Zimbabwe govt announces bonus payments for civil servants
Traditional chiefs, headmen and their messengers are set to receive bonuses this year as government moved weekend to confirm plans to award bonuses to all civil servants and pensioners.Governm...Published: 12 Nov 2023 at 20:45hrs | 21 | by Staff reporter
Mnangagwa's govt awards chiefs hefty bonuses
The government has awarded traditional leaders a 100% bonus this year as a "performance reward" after they played a key role in mobilising their subjects to vote for Zanu-PF during the August election...Published: 12 Nov 2023 at 11:52hrs | 7 | by Staff reporter
Guvamatanga cleared of rape
At the conclusion of the prosecution's case, Harare regional magistrate Mr. Stanford Mambanje has acquitted Charles Guvamatanga, a music promoter and director of Kuziva Holdings, known in entertainmen...Published: 14 Oct 2023 at 07:26hrs | | by Staff reporter
UN tells Zimbabwe to make changes to attract FDI
The United Nations (UN) has urged Zimbabwe to implement necessary changes to attract foreign direct investment (FDI) as global foreign assistance diminishes, moving away from quiet diplomacy. This adv...Published: 12 Oct 2023 at 06:41hrs | | by Staff reporter
Mnangagwa's Mutapa Fund likely to create oligarchs
FEARS abound that President Emmerson Mnangagwa's self-serving Mutapa Investment Fund project has hallmarks of how Russian state assets were sold for a song or brazenly stolen during its transition fro...Published: 09 Oct 2023 at 13:50hrs | | by Staff reporter
Mnangagwa appoints line ministries permanent secretaries
PRESIDENT Emmerson Mnangagwa has with immediate effect appointed deputy chief secretaries, line ministries' permanent secretaries and provincial affairs secretaries for devolution.In a stateme...Published: 06 Oct 2023 at 21:10hrs | 9 | by Staff reporter
Zimbabwe's govt to privatise 20 enterprises under Mutapa
The government is considering removing the public entity status of the 20 State-owned enterprises (SOEs) that fall under the Mutapa Investment Fund, leading to debates regarding their procurement exem...Published: 03 Oct 2023 at 06:21hrs | | by Staff reporter
Guvamatanga rubbishes retailers' complaints over spaza shop influx
George Guvamatanga, the Secretary of the Ministry of Finance, has chosen to downplay the impact of tuck shops on formal retailers. Instead, he has suggested that many businesses are being managed by i...Published: 03 Oct 2023 at 06:18hrs | | by Staff reporter
Zimbabwe Treasury has not exempted state enterprises from procurement rules
The state enterprises under the Mutapa sovereign wealth fund still have to comply with procurement rules despite an exemption issued for the fund itself, The Ministry of Finance says.In a gove...Published: 02 Oct 2023 at 19:57hrs | 1 | by Staff reporter
WATCH: George Guvamatanga sets the record straight on Mutapa fund exemptions
Treasury Secretary George Guvamatanga says they have not exempted nearly two dozen state companies in which the Mutapa Sovereign Wealth Fund holds shares from public procurement procedures. He maintai...Published: 02 Oct 2023 at 19:46hrs | | by Staff reporter
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