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Zimbabwe govt treasury surplus exceeds $6bn
Public finances have been in perfect health for a good period now, amid revelations that Treasury has maintained surpluses in excess of $6 billion on its accounts at the Reserve Bank of Zimbabwe (RBZ)...Published: 28 Feb 2021 at 10:30hrs | 622 | by Staff reporter
Business executives are sounding decidedly upbeat in Zimbabwe
Business executives are sounding decidedly upbeat in Zimbabwe, a sea change from the pessimism they've expressed through two decades of economic mismanagement and institutional decay.The south...Published: 28 Feb 2021 at 09:07hrs | 942 | by Staff reporter
Undocumented migrants bolster indigenous truck owners' businesses
THE refusal by bigger companies like Botswana Couriers, Sprint Couriers, Skynet Couriers, UPS, TNT Express and FedEx to accept parcels from individuals without identity documents has created an opport...Published: 27 Feb 2021 at 19:03hrs | 1633 | by Staff reporter
Mnangagwa's govt fails to buy security vehicles
MORALE in the security services may soon hit rock bottom as the government battles to plug a massive backlog of personal service vehicles for senior officers amid deteriorating working conditions, The...Published: 27 Feb 2021 at 19:00hrs | 957 | by Staff reporter
President ED Mnangagwa - A lucky Daka-boy?
In the aftermath of the 2017 military coup, emerged a darker force to take over the peaceful nation of Zimbabwe. A man with something of the night was suddenly thrust into the forefront of Zimbabwean ...Published: 27 Feb 2021 at 10:39hrs | 3093 | by Nobukhosi Moyo
Old Mutual sees ‘green shoots' in Zimbabwe
THE head of Old Mutual Zimbabwe says there are green shoots appearing in the economy after the devastation of a severe drought and the coronavirus pandemic."There are good signs emerging in ec...Published: 26 Feb 2021 at 06:54hrs | 1334 | by Staff reporter
Family monthly basket shoots to $25 935
THE monthly cost of living for an ordinary family of five rose again this February to record $25 935, the Zimbabwe National Statistics Agency (ZIMSTAT) has reported.The agency Thursday reporte...Published: 26 Feb 2021 at 06:43hrs | 717 | by Staff reporter
Mine workers salary talks collapse
THE Zimbabwe Diamond and Allied Minerals Workers Union (Zdamwu) yesterday claimed that negotiations for first quarter wage increments had stalled after the National Employment Council (NEC) for the mi...Published: 26 Feb 2021 at 06:38hrs | 315 | by Staff reporter
'Auction rate is the real market rate'
THE auction exchange rate represents the proper market trends contrary to the contrived perception that the parallel market signifies the "real exchange rate", a senior Treasury official has said. &nb...Published: 26 Feb 2021 at 06:30hrs | 233 | by Staff reporter
Liquidity squeeze hits Zimbabwe
Zimbabwe's central bank is in the market mopping up excess liquidity using savings bonds as a deliberate action to regulate the quantity of money in circulation in addition to dealing with an exacerba...Published: 25 Feb 2021 at 16:19hrs | 1707 | by Staff reporter
Zimbabwe's exchange rates band to narrow
The gap between the official and parallel market exchange rates is expected to narrow further from the current 20% by the end of the year owing to the containment of reserve money, good agriculture se...Published: 25 Feb 2021 at 16:19hrs | 1642 | by Staff reporter
Mangudya in shock claims
Zimbabwe's central bank governor, John Mangudya, this week claimed the southern African country does not need "anyone's money" to extricate itself from its economic woes.The country, which is ...Published: 25 Feb 2021 at 16:19hrs | 3653 | by Staff reporter
Zimbabwe inflation drops 1.98%
ZIMBABWE'S month-on-month inflation for February decreased by 1,98 percentage points to 3,45 percent from 5,43 percent recorded in January, the Zimbabwe National Statistics Agency (Zimstat) said....Published: 25 Feb 2021 at 16:03hrs | 240 | by Staff reporter
Zimbabwe's $50 note imminent
Zimbabwe announced on Thursday that it would shortly introduce a $50 note, while raising cash withdrawal limits to Z$2,000 per day from Z$1,000.The central bank also lifted its main lending ra...Published: 21 Feb 2021 at 22:30hrs | 1659 | by Staff reporter
Salary deductions irk teachers
THE government has raised the ire of teachers after taking 2.5% of their salaries as contributions to its newly set-up mutual fund for civil servants amid claims the workers were not properly consulte...Published: 21 Feb 2021 at 07:07hrs | 1164 | by Staff reporter
Zimbabwean banks strike forex auction settlement deal
ZIMBABWE's banking system has agreed to settle funds allocated at the foreign currency auction system within two weeks, central bank governor John Mangudya has said.Introduced in June 2020 to ...Published: 21 Feb 2021 at 07:06hrs | 1253 | by Staff reporter
Covid-19 pandemic grounds Zanu-PF
FINANCE and Economic Development minister Mthuli Ncube boycotted the Zanu-PF politburo on Wednesday, where the party's top brass spent hours discussing the dire state of the economy and how the ...Published: 20 Feb 2021 at 19:05hrs | 1507 | by Staff reporter
'Inflation will drop to 10% by December 2021' - not as long as Zimbabwe remains a Banana Republic
"The Reserve Bank of Zimbabwe (RBZ) yesterday forecast annual inflation to plummet to less than 10% this year, driven by a good agricultural season, fiscal and financial sector stability," reported Bu...Published: 20 Feb 2021 at 08:43hrs | 258 | by Nomusa Garikai
Zimbabwean expats keep country afloat, remits $1 billion
Diaspora remittances to Zimbabwe jumped a record 58 percent from US$635.7 million to US$1 billion in 2020, the central bank said on Thursday, highlighting the key role played by expatriates in keeping...Published: 19 Feb 2021 at 07:24hrs | 958 | by Staff reporter
RBZ projects inflation fall
THE Reserve Bank of Zimbabwe (RBZ) yesterday forecast annual inflation to plummet to less than 10% this year, driven by a good agricultural season, fiscal and financial sector stability.Zimbab...Published: 19 Feb 2021 at 07:16hrs | 382 | by Staff reporter
Eddie Cross quits
LEADING economist Eddie Cross has quit his role as a member of the Reserve Bank of Zimbabwe (RBZ)'s Monetary Policy Committee (MPC) less than two years into the role, Zimbabwe Independent reported....Published: 19 Feb 2021 at 07:14hrs | 7065 | by Staff reporter
Zimdollar to weaken after lockdown
DESPITE enjoying some illusory stability owing to depressed demand for foreign currency due to Covid-19 lockdowns, which reduced business activity, the Zimbabwe dollar remains volatile with high risks...Published: 19 Feb 2021 at 07:08hrs | 1368 | by Staff reporter
RBZ probes shady tycoons and firms
THE Financial Intelligence Unit (FIU) - an arm of the Reserve Bank of Zimbabwe (RBZ) - has opened a fresh investigation into firms and individuals who are using shelf companies to siphon money from th...Published: 19 Feb 2021 at 07:03hrs | 1206 | by Staff reporter
Cash withdrawal limits, lending rates go up
THE Reserve Bank of Zimbabwe (RBZ) has increased withdrawal limits to $2 000 from $1 000 and reviewed upwards the bank policy and private sector lending rates as part of comprehensive measures to stre...Published: 19 Feb 2021 at 06:49hrs | 683 | by Staff reporter
Mnangagwa rallies Zanu-PF
PRESIDENT Emmerson Mnangagwa has called upon Zanu-PF structures to gear up for the fast-approaching 2023 national elections, which he said will provide the ruling party with the platform to wipe out t...Published: 18 Feb 2021 at 14:58hrs | 623 | by Staff reporter
Was November 2017 a false start for Zimbabwe?
THEN there was the incident in New York on 9/11, I drove into the garden of my daughter and her husband and they shouted at me to come and see what was happening.I walked into the house and sa...Published: 17 Feb 2021 at 20:19hrs | 1096 | by Eddie Cross
Mnangagwa using COVID-19 to fight political opponents, says Moyo
Opposition Alliance for people's Agenda (APA) party leader Nkosana Moyo has accused President Emmerson Mnangagwa of using the COViD-19 lockdown period to clamp down on his political opponents....Published: 17 Feb 2021 at 06:27hrs | 1643 | by Staff reporter
Zimdollar will maintain a 'fragile stability' this year report
ZIMBABWE's currency will maintain a "fragile stability" this year, continuing from the volatilities that haunted the domestic unit even after the introduction of theforeign currency auction system...Published: 17 Feb 2021 at 06:11hrs | 804 | by Staff reporter
Pride always comes before a fall, so do egos
The country is sinking into an economic abssy because of unsettled political differences.Since President Emmerson Mnangagwa was voted into power in August 2018, the Nelson Chamisa-led MDC-Alli...Published: 15 Feb 2021 at 08:00hrs | 637 | by Staff reporter
Harare roads funds need audit
The heavy rains have highlighted the lack of maintenance and lack of required rebuilding on many Harare roads, with the city council getting its fair share of Zinara funds and having access to parking...Published: 15 Feb 2021 at 06:45hrs | 310 | by Staff reporter
Pay rise for public, private sector imminent
WORKERS in the public and private sectors have benefited from a steady increase of basic salaries between January 2020 and January this year due to a stable economic environment engendered by good Gov...Published: 14 Feb 2021 at 09:37hrs | 698 | by Staff reporter
Geoff Nyarota revisits Willowgate scandal
I WAS at the time two months short of 38 years of age and a little-known editor of The Chronicle, the Bulawayo-based daily newspaper.In a building in our neighbourhood in central Bulawayo was ...Published: 13 Feb 2021 at 14:49hrs | 1282 | by Geoff Nyarota
Blind, inflated egos is not what Zimbabwe needs right now
REVELATIONS by Zimbabwe Heads of Christian Denominations (ZHOCD) this week that political dialogue to extricate the country from the current political and economic crises is hamstrung by selfishness a...Published: 12 Feb 2021 at 15:51hrs | 111 | by Staff reporter
Zimbabwe businesses face transfer, pricing risks
BUSINESSES are facing transfer and pricing risks due to shortages of foreign currency and high inflation as the currency crisis strains the economy.This has come as a result of a waning invest...Published: 12 Feb 2021 at 15:46hrs | 245 | by Staff reporter
'Forex enough to stabilise rate'
The exchange rate of the Zimbabwean dollar against the US dollar will continue to hold steady on the weekly auction market because the country is earning enough forex to support critical imports, the ...Published: 12 Feb 2021 at 05:34hrs | 374 | by Staff reporter
'Forex auction eased liquidity crisis'
THE move by the Reserve Bank of Zimbabwe (RBZ to introduce the foreign currency auction system in June last year eased a liquidity crisis that swept through small-to-medium enterprises (SME), global r...Published: 11 Feb 2021 at 06:16hrs | 413 | by Staff reporter
Will Mnangagwa go East as more sanctions come from the West?
ZIMBABWE President Emmerson Mnangagwa's attempts to win over the West to his cause are failing, the latest sign being the UK's sanctions on his security chiefs.On Monday 1 February 2021, the U...Published: 10 Feb 2021 at 15:09hrs | 1262 | by Staff reporter
Zimbabwe must embrace 'spirit of optimism and confidence'
IT is my singular honour and privilege to have been invited to address this virtual Africa Reconstruction Global Summit organised by the World Economic Congress.The theme of this conference, Colla...Published: 10 Feb 2021 at 06:16hrs | 183 | by ED Mnangagwa
RBZ still optimistic about low inflation
Reserve Bank of Zimbabwe Governor, Dr John Mangudya, remains confident authorities will be able to maintain a lid on prices to curtail potential relapse into runaway inflation, following worrying incr...Published: 10 Feb 2021 at 05:29hrs | 211 | by Staff reporter
Zimra surpasses set targets
The country's tax collector, Zimbabwe Revenue Authority (Zimra), says its collections for the three months to December surpassed the revised set targets. Net collections for the period under r...Published: 10 Feb 2021 at 05:26hrs | 132 | by Staff reporter
Call for revival of Bulawayo industry
CIVIL society organisations have called on the government to formulate a policy aimed at reviving industries in Bulawayo.Zimbabwe's second largest city used to be an industrial hub before a co...Published: 05 Feb 2021 at 06:53hrs | 1181 | by Staff reporter
Record US$36m allotment at auction
A record US$36,32 million was allotted at yesterday's 31st foreign currency auction of the Reserve Bank of Zimbabwe, but for the second week running all bids below $82 were rejected so the Zimbabwe do...Published: 03 Feb 2021 at 05:54hrs | 288 | by Staff reporter
Proudly made in Zimbabwe
The advent of globalization has demonstrated that each country has expertise in a certain trade and there are commodities that resonate with certain countries more than others. It is often argued that...Published: 02 Feb 2021 at 00:25hrs | 2145 | by Victor Bhoroma
Zanu-PF bigwigs come face-to-face with Zimbabwe's crippled healthcare system
ON January 20, Zimbabweans were shocked to hear the news of the death of Foreign Affairs Minister Sibusiso Moyo, the latest government official to succumb to Covid-19.The 61-year-old, who rose...Published: 31 Jan 2021 at 06:58hrs | 1740 | by Staff reporter
Zimbabwe military is key to any political transition
ZIMBABWE'S military should play a role in the mediation process that seeks to break the country's never-ending socio-political impasse, a study by the Crisis in Zimbabwe Coalition has proposed....Published: 30 Jan 2021 at 17:23hrs | 933 | by Staff reporter
'Serious dialogue critical to end Zimbabwe woes'
ZIMBABWE'S economic woes will persist until there is serious dialogue among key domestic players in politics and the international community, renowned banker Nigel Chanakira has said.Chanakira...Published: 29 Jan 2021 at 07:11hrs | 1105 | by Staff reporter
How to choose a tokenization platform for your business
Cryptocurrencies, and the technology that makes their existence possible are gaining more popularity by the day. People increasingly buy bitcoins for various reasons,...Published: 28 Jan 2021 at 15:46hrs | 205 | by Staff Writer
Zimbabwe cost of living shoots to $24 935
THE cost of living continues to rise and an ordinary family of five now requires an average of $24 935 to cover its monthly expenses, the Zimbabwe National Statistics Agency (ZIMSTAT) has reported....Published: 28 Jan 2021 at 06:22hrs | 1113 | by Staff reporter
Bank workers demand US dollars
THE Zimbabwe Banks and Allied Workers Union (Zibawu) says it has rejected a wage increase of about 350% tabled by employers during ongoing negotiations.According to Zibawu, the minimum wage in...Published: 27 Jan 2021 at 06:03hrs | 2370 | by Staff reporter
$1 000 fine for not wearing face mask
THE government has doubled the fine for not wearing a face mask or breaching Covid-19 restrictions to $1 000 from the previous $500.Maximum fines for criminal offences have been doubled to cop...Published: 27 Jan 2021 at 05:53hrs | 936 | by Staff reporter
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