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Econet shakes up to ride out crisis
ZIMBABWE Stock Exchange listed telecoms giant, Econet Wireless Zimbabwe says it is casting its net wide to identify fresh opportunities on the domestic market, while scanning the global terrain to see...Published: 03 Dec 2020 at 06:44hrs | 1134 | by Staff reporter
Sector priorities for NDS implementation
Zimbabwe launched its new 5 year economic blueprint called the National Development Strategy (NDS-1) on 16 November 2020. The new plan succeeds the Transitional Stabilization Programme (TSP) that ends...Published: 01 Dec 2020 at 09:17hrs | 661 | by Victor Bhoroma
Mnangagwa's new republic, worse than Mugabe era
THE country looks like a civilian regime where everything is run by civilians in which democratic institutions exist in form, but not in substance, because the electoral, legislature, judicial, media ...Published: 01 Dec 2020 at 07:03hrs | 1197 | by Leonard Koni
Stanbic in eye of 'wage theft' storm
STANBIC Bank Zimbabwe is facing its toughest moments in many years, after a key union approached the financial institution's South African headquartered parent, Standard Bank Group, raising a stink ov...Published: 01 Dec 2020 at 06:55hrs | 2121 | by Staff reporter
'Dollarisation was our biggest mistake,' says Mthuli Mcube
Dollarisation was a big mistake as it took away the country's monetary autonomy and made industry uncompetitive, Finance and Economic Development Minister Mthuli Ncube said yesterday. Besides,...Published: 01 Dec 2020 at 06:48hrs | 2880 | by Staff reporter
24 senior military officers promoted
Twenty-four Zimbabwe National Army lieutenant colonels have been promoted to the rank of colonel by Commander-in-Chief of the Zimbabwe Defence Forces President Mnangagwa. The promotions were i...Published: 01 Dec 2020 at 06:48hrs | 801 | by Staff reporter
Govt rules out return of US dollar
ZIMBABWE will not consider using the US dollar as its default tender again, saying it won't repeat its past mistake of abandoning the local currency."One of the biggest mistakes was dollarisin...Published: 30 Nov 2020 at 19:05hrs | 2640 | by Staff reporter
Operation restore legacy was a no brainer
This regime that looked democratic in appearance but grounded in authoritarian rule is a time bomb and waiting for the right time to explode.The country also looked like a civilian regime wher...Published: 30 Nov 2020 at 17:10hrs | 841 | by Leonard Koni
Zimbabweans living in extreme poverty increase to 6 million in 2019
The number of poor people in the country increased to 8.9 million in 2019 - more than half of its estimated population - from 8 million in 2017 while those living in extreme poverty increased to 6 mil...Published: 27 Nov 2020 at 17:31hrs | 490 | by Staff reporter
Zimbabwe struggles to save trapped miners as flood halts rescue
Hope is fading by the day for 40 informal gold miners trapped in a collapsed mine in Zimbabwe for more than 48 hours ago after rescue operations were stalled due to flooding.The disused mine c...Published: 27 Nov 2020 at 17:02hrs | 347 | by Staff reporter
Depositors and pensioners to be compensated for exchange losses, says Mthuli Ncube
Depositors with small bank balances and pensioners whose savings were wiped out by currency changes last year will be compensated from a US$150 million fund, finance minister Mthuli Ncube said on Thur...Published: 27 Nov 2020 at 07:56hrs | 6694 | by Staff reporter
Mthuli Ncube piles more misery on Zimbabweans
FINANCE minister Mthuli Ncube yesterday dampened the hopes for a merry Christmas for the majority Zimbabweans after he reviewed the tax-free threshold to $10 000, about half the cost of a monthly bask...Published: 27 Nov 2020 at 07:28hrs | 3937 | by Staff reporter
Mthuli Ncube out of touch with reality
SO much was expected from Finance and Economic Development minister Mthuli Ncube's 2021 national budget, which was presented yesterday. Yet he delivered very little.Zimbabwe has been badly bat...Published: 27 Nov 2020 at 07:26hrs | 1481 | by Staff reporter
Zimbabwe eyes 7% growth in year 2021
FINANCE minister Mthuli Ncube stuck to his 7,4% gross domestic product (GDP) growth target when he presented the 2021 National Budget yesterday, tipping most of the growth to be driven by strong recov...Published: 27 Nov 2020 at 07:13hrs | 88 | by Staff reporter
Econet hikes tariffs 20%
Econet Wireless Zimbabwe has hiked its voice tariff by 20% to guarantee continued delivery of the service.The latest tariff adjustment comes at a time when government is banking on increased i...Published: 27 Nov 2020 at 07:10hrs | 2125 | by Staff reporter
$421.6bn inclusive 2021 budget unveiled
FINANCE and Economic Development Minister, Professor Mthuli Ncube yesterday announced a $421.6 billion National Budget for 2021 in which he handed down tax relief measures to cushion workers and corpo...Published: 27 Nov 2020 at 07:02hrs | 328 | by Staff reporter
Zimbabwe has 9 million poor people - report
NEARLY 9 million Zimbabweans are poor with the majority of them among those living in rural areas.This is according to recent ZimStats report focussing on Poverty, Income, Consumption and Expe...Published: 27 Nov 2020 at 06:58hrs | 212 | by Staff reporter
Chikwinya blasts toll fees hike
MDC Alliance national secretary for transport and logistics, Settlement Chikwinya has blasted the recent hike in tollgate fees saying it will strain the already finacially-struggling motorists and int...Published: 26 Nov 2020 at 07:30hrs | 1536 | by Staff reporter
2021 budget: Fitting a round peg in a square hole
THE 2021 national budget due to be presented this afternoon presents one of the toughest challenges for Finance minister, Mthuli Ncube.He is expected to roll out strategies that will help the ...Published: 26 Nov 2020 at 07:27hrs | 399 | by Staff reporter
All eyes on Mthuli Ncube's budget
VENDORS, teachers and retailers are pinning their hopes on today's budget presentation by Finance minister Mthuli Ncube to address key issues affecting their constituencies that have been hard hit by ...Published: 26 Nov 2020 at 07:16hrs | 777 | by Staff reporter
Biti says RBZ forex auction system headed for collapse
FORMER Finance Minister and legislator Tendai Biti has dismissed the Reserve Bank of Zimbabwe (RBZ) foreign currency auction system as a charade that is set implode once all economic fundamentals begi...Published: 26 Nov 2020 at 07:06hrs | 1737 | by Staff reporter
Zimbabweans mend shabby dollar notes amid economic crisis
Albert Marombe takes a grimy, tattered US$1 note and delicately, expertly glues it back into one piece, holding it up for inspection."I don't care how torn it is. All I want to see is the seri...Published: 25 Nov 2020 at 06:20hrs | 6873 | by AP
1,200 defiant nurses struck off payroll
MORE than 1 200 nurses who failed to comply with a Government directive to revert to the normal working hours did not receive their November salaries and bonuses after they were struck off the payroll...Published: 25 Nov 2020 at 04:41hrs | 1179 | by Staff reporter
Econet marginally adjusts voice bundle tariffs
HARARE - Econet Wireless Zimbabwe (Econet) this week marginally adjusted its voice bundle tariffs in a bid to guarantee continued delivery of acceptable service to its customers.The telecommun...Published: 24 Nov 2020 at 16:31hrs | 2438 | by Agencies
'Finance cops soldiers better'
CABINET ministers in charge of security ministries have pleaded with Finance minister Mthuli Ncube to avail more resources to security forces when he presents his 2021 national budget this week, the D...Published: 23 Nov 2020 at 06:01hrs | 4375 | by Staff reporter
Zinara commits $1 billion to roads rehab
The ability of local authorities to spruce up roads, especially ahead of the rainy season, has been further enhanced after the Zimbabwe National Road Administration (Zinara) injected an additional $1,...Published: 22 Nov 2020 at 04:38hrs | 211 | by Staff reporter
'Govt must compensate for lost pension earnings'
GOVERNMENT and insurance companies have an obligation to compensate pensioners who lost the true value of their pension savings in two consecutive periods of hyperinflation, 2008 to 2009 and 2019, law...Published: 21 Nov 2020 at 22:20hrs | 292 | by Staff reporter
Mnangagwa's straitjacket has no wriggle room, especially now coups are 'legal' - off with his head with crown upon it
"Zanu-PF has a constitution and under that constitution, we sit as a congress to elect our president," said Zanu PF acting national spokes-person Patrick Chinamasa."In 1977, a lot of the leade...Published: 21 Nov 2020 at 08:31hrs | 822 | by Wilbert Mukori
Cost of living spirals to $20 680
ZIMBABWE'S monthly cost of living rose by 4,4% to $18 750 in October, even as the Zimbabwe National Statistics agency (ZimStat) said the annual inflation rate dropped during the period.This fi...Published: 20 Nov 2020 at 06:21hrs | 1275 | by Staff reporter
Govt interference on ZSE queried
STOCK exchange stakeholders spoke for the first time this week since the Zimbabwe Stock Exchange (ZSE) was shut down in June, questioning the powers behind its shutdown and warning government not to r...Published: 20 Nov 2020 at 06:09hrs | 248 | by Staff reporter
Firms hail forex auction system
ZIMBABWE'S biggest companies have hailed central bank governor, John Mangudya's foreign currency auction system for defusing a forex crisis that had affected production in the past year.The Re...Published: 20 Nov 2020 at 06:08hrs | 286 | by Staff reporter
Govt ranks highest payer, says Mthuli Ncube
THE Government is currently the highest paying employer in the country and pay scales for public servants far outstrip what private sector players are giving their employees, Finance and Economic Deve...Published: 20 Nov 2020 at 05:57hrs | 214 | by Staff reporter
Chamisa goes down as Mnangagwa rises high
After 37 years in power, President Robert Mugabe of Zimbabwe resigned via in November 2017. His successor and former vice president, Emmerson Mnangagwa, promised a break from Mugabe's authoritarian ru...Published: 19 Nov 2020 at 08:33hrs | 9522 | by Dr Masimba Mavaza
FCB set to retrench employees
FIRST Capital Bank (FCB) is set to retrench workers as the business restructures in the face of the hyperinflationary environment and the need to digitalise.In a letter dated November 12, FCB ...Published: 19 Nov 2020 at 05:36hrs | 1399 | by Staff reporter
Printing money will bury us: Govt
GOVERNMENT yesterday called on teachers and civil servants to be realistic in their salary demands, saying any unreasonable demands would push them into printing money to fund employment costs, which ...Published: 18 Nov 2020 at 05:34hrs | 4648 | by Staff reporter
Reviving the rural economy in Zimbabwe
Zimbabwe's rural economy plays a significant role in national food production, in alleviating extreme poverty and in the attainment of Sustainable Development Goals (SDGs). The Zimbabwe National Stati...Published: 17 Nov 2020 at 12:37hrs | 2401 | by Victor Bhoroma
Mnangagwa launches new economic blueprint
PRESIDENT Mnangagwa yesterday launched the National Development Strategy 1 (NDS1), which is anchored on economic growth and institutional reforms aimed at attaining an upper middle-income economy by 2...Published: 17 Nov 2020 at 07:29hrs | 2017 | by Staff Reporter
Zimbabwe looks underground for golden economic revival
REELING from decades of economic mismanagement, Zimbabwe is banking on gold to shore up revenue and tackle the upshots of rampant hyperinflation, corruption and coronavirus restrictions.Global...Published: 16 Nov 2020 at 05:48hrs | 274 | by Staff reporter
'Rushwaya gold could buy UniFreight, Zeco'
THE gold that underfire Zimbabwe Miners' Federation (ZMF) boss Henrietta Rushwaya allegedly tried to smuggle out of the country before running into an airport security trap about three weeks ago was e...Published: 14 Nov 2020 at 21:20hrs | 1885 | by Staff reporter
WATCH: Auxillia Mnangagwa pleads with business community to avoid corruption
The business sector has received a thumbs up from the First Lady, Amai Auxillia Mnangagwa for complementing government efforts in stabilising prices of basic goods and the economy.With governm...Published: 13 Nov 2020 at 13:57hrs | 1977 | by Staff Reporter
Zimbabwe economic meltdown deepens
SOME of Zimbabwe's largest companies have painted a grim picture of the country's socio-economic situation, reporting a sharp fall in revenues, as the relentless economic meltdown intensifies....Published: 13 Nov 2020 at 07:31hrs | 1670 | by Staff reporter
World Bank lauds Zimbabwe reforms
The World Bank sees Zimbabwe's reforms fixing economic fundamentals and economic blueprints, such as the Budget Strategy Paper and the National Development Strategy-1 (2021-2025), as being the major p...Published: 13 Nov 2020 at 05:36hrs | 416 | by Staff reporter
Zimbabwe industry on edge over 2% forex tax
Bankers have said the recently introduced 2% Intermediated Money Transfer Tax on foreign currency is inflationary and erodes the rising confidence in the local currency. Bankers Association of...Published: 12 Nov 2020 at 07:08hrs | 1889 | by Staff reporter
Teachers decline 'mockery' govt pay offer
TEACHERS have rejected the government's 40% salary hike offer, describing it as a mockery, vowing not to return to work until their employer pays them meaningful salaries.Government on Tuesday...Published: 12 Nov 2020 at 06:31hrs | 5116 | by Staff reporter
Zimbabwe inflation drops to 471,25%
ZIMBABWE'S annual inflation rate dropped to 471,25% in October from 659,40% in September, according to latest data from the Zimbabwe National Statistics Agency (ZimStat).The annual inflation r...Published: 12 Nov 2020 at 06:29hrs | 1143 | by Staff reporter
'Zimbabwe trapped between State collapse and State failure'
ZIMBABWE is trapped between State collapse and State failure because President Emmerson Mnangagwa's government has failed to provide basic amenities for its citizens, uphold civil liberties and arrest...Published: 12 Nov 2020 at 06:28hrs | 1527 | by Staff reporter
Treasury records $5.39 billion deficit in July
Government incurred a deficit of $549.95 million in the seven months to July, missing a targeted surplus of $2.02 billion after higher expenses mainly due to the payment of Covid-19 risk allowances to...Published: 11 Nov 2020 at 14:03hrs | 1451 | by Staff reporter
CBZ profits slide as pandemic bites
FINANCIAL services giant, CBZ Holdings (CBZH) on Tuesday said inflation-adjusted post-tax profits slipped to $2,44 billion during the third quarter ended September 30, 2020 after the economy suffered ...Published: 11 Nov 2020 at 06:32hrs | 366 | by Staff reporter
RBZ forex auction allotments to industry reach highest ever at US$32 million
RESERVE Bank of Zimbabwe Tuesday allotted a total US$31.7 million to industry, becoming the highest amount to be availed since the launch of the auction system in June this year.The auction la...Published: 10 Nov 2020 at 19:44hrs | 1680 | by Staff reporter
Zimbabwe imports 600MW to cover power supply gap
THE country is importing up to 600MW of electricity from regional producers so as to cover the supply gap, which is created by subdued energy generation capacity mainly by ageing thermal power station...Published: 09 Nov 2020 at 23:28hrs | 922 | by Staff Reporter
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