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Govt to raise $30bn through Treasury Bills, bonds
Zimbabwe plans to raise $30 billion through the issuance of Treasury Bills and bonds to finance its 2021 budget deficit, the Government debt plan show. Treasury bonds and Treasury Bills are all ...Published: 22 hrs ago | 162 | by Staff reporter
Spectre didn't work, scarf clearly isn't working, so why Zimbabwe regime's obsession on Voodoo governance?
I have always tried my best to keep away from individuals' personal beliefs and faiths - since, as the phrase, "personal belief" clearly connotes, these a...Published: 16 Jun 2021 at 09:00hrs | 2019 | by Tendai Ruben Mbofana
RBZ goes for broke: names, shames forex abusers
THE Reserve Bank of Zimbabwe (RBZ) yesterday escalated plans to punish "outliers" including listed milling giant, National Foods, which it said were "abusing" foreign currency acquired through the auc...Published: 16 Jun 2021 at 08:29hrs | 2316 | by Staff reporter
18 forex abusers to pay penalties
The Reserve Bank of Zimbabwe yesterday listed the first 18 firms facing civil penalties under the new Statutory Instrument 127 after being caught abusing the foreign exchange auction system, with Zimb...Published: 16 Jun 2021 at 08:16hrs | 293 | by Staff reporter
RBZ names companies abusing foreign exchange auction system
THE Reserve Bank of Zimbabwe has named 18 companies that have been abusing the foreign exchange auction system. The RBZ released a statement and said the companies that were found out by the F...Published: 15 Jun 2021 at 18:21hrs | 1112 | by Staff reporter
Cheap electricity no longer guaranteed
ELECTRICITY tariffs will continue to be reviewed in line with inflation and exchange rate movements until they reflect the cost of production, a Cabinet Minister has said.Last month, Zesa effe...Published: 13 Jun 2021 at 19:55hrs | 489 | by Staff reporter
Delta red-flags Zimbabwe policies
ZIMBABWE Stock Exchange (ZSE)-listed beverages manufacturer, Delta Corporation yesterday added its voice to growing concerns over policy inconsistency and currency volatility in the country, saying th...Published: 11 Jun 2021 at 07:39hrs | 783 | by Staff reporter
World Bank predicts 3,9% growth
ZIMBABWE'S economy will grow by 3,9% this year, underpinned by a good agricultural season and an inflationary slowdown, the World Bank (WB) predicted yesterday.However the global lender warned...Published: 11 Jun 2021 at 07:36hrs | 185 | by Staff reporter
Mangudya clashes with World Bank
RESERVE Bank of Zimbabwe (RBZ) governor John Mangudya yesterday clashed with the World Bank representatives as he vehemently disputed their projected annual inflation rate.This played out at t...Published: 11 Jun 2021 at 06:40hrs | 2900 | by Staff reporter
Mnangagwa claims he is touched by the plight of teachers
PRESIDENT Mnangagwa has said he is touched by the plight of teachers and Government acknowledges that there is a need to improve civil servants' remuneration.The President said while Governmen...Published: 11 Jun 2021 at 06:33hrs | 1464 | by Staff reporter
RBZ steps up liquidity mopping
The Reserve Bank of Zimbabwe (RBZ)'s decision to trade non-negotiable certificates of deposits in exchange for excess liquidity held by local financial institutions is in line with authorities' contra...Published: 11 Jun 2021 at 06:28hrs | 236 | by Staff reporter
World Bank projects growth for Zimbabwe
The World Bank has commended the Government's economic revival framework and noted that Zimbabwe is poised to register economic growth this year despite a raft of challenges posed by the Covid-19 pand...Published: 11 Jun 2021 at 06:28hrs | 239 | by Staff reporter
Zimbabwe upbeat about economic rebound
Zimbabwe is hoping for economic rebound this year as Finance Minister Mthuli Ncube expects the economy to grow by 7.8%.For two consecutive years, the country's economy has been shrinking. Even...Published: 10 Jun 2021 at 21:23hrs | 159 | by Staff reporter
Mnangagwa must embrace Chamisa
THE situation that Zimbabwe finds itself in is very tricky to say the least.It is a sad reminder of how bad political and economic decisions can ruin an economy.It also evokes the memo...Published: 10 Jun 2021 at 06:43hrs | 2287 | by Rowai
OK suffers write-downs as crisis deepens
REVENUES at the Zimbabwe Stock Exchange-listed retail giant, OK Zimbabwe Limited came off slightly to $34,3 billion during the year ended March 31, 2021 as consumer spending came under pressure as a r...Published: 10 Jun 2021 at 06:35hrs | 989 | by Staff reporter
Zimbabwe back to trillion-figure era
THE Reserve Bank of Zimbabwe (RBZ) says the value of transactions processed through the national payment systems hit the $1,24 trillion mark during first quarter of this year, rising by 9% from $1,13 ...Published: 09 Jun 2021 at 07:18hrs | 2609 | by Staff reporter
Zimbabwe records $9,8bn budget surplus
ZIMBABWE recorded a budget surplus amounting to $9,8 billion in the first quarter of 2021 on the back of continued fiscal consolidation measures and sustained macro-economic stability, Finance and Eco...Published: 08 Jun 2021 at 06:29hrs | 212 | by Staff reporter
Constituency petitions Biti to account for CDF
Residents of Harare East are up in arms against their legislator, Mr Tendai Biti, over alleged misappropriation of the Constituency Development Fund (CDF).Members of Parliament, Mr Bit include...Published: 07 Jun 2021 at 22:44hrs | 900 | by Staff reporter
Zimbabwe's biggest diamond miner sees output rising 30% in 2021
THE biggest diamond miner in Zimbabwe said it will be able to increase production of rough gems by about 30% to 3 million carats this year thanks to improved mining methods.Zimbabwe Consolidat...Published: 06 Jun 2021 at 18:15hrs | 298 | by Staff reporter
Govt to ban firms from forex auctions over 'rampant abuse'
ZIMBABWE has threatened to ban traders from the country's foreign-exchange auction platform for exploiting the gap between black-market and official currency prices.Authorities are dealing wit...Published: 06 Jun 2021 at 17:48hrs | 510 | by Bloomberg
Mangudya plays down forex crisis
RESERVE Bank of Zimbabwe (RBZ) governor John Mangudya has down-played fears of an industrial bloodbath in the aftermath of government's move two weeks ago to effect far reaching reforms to stem the ab...Published: 06 Jun 2021 at 10:00hrs | 1007 | by Staff reporter
Zimbabwe forex rules 'a tragedy of good intentions'
LAST week's promulgation of Statutory Instrument 127 of 2021, which penalises issuance of local currency receipt for foreign currency purchases and pricing goods above the official auction rate, among...Published: 06 Jun 2021 at 09:59hrs | 266 | by Staff reporter
Mthuli Ncube to hold business indaba
GOVERNMENT will soon engage industry to discuss the rationale behind the recent spate of price increases which followed the promulgation of Statutory Instrument 127 of 2021.The SI was introduc...Published: 06 Jun 2021 at 09:48hrs | 96 | by Staff reporter
Zimbabwe fuel prices slashed
ZIMBABWE Energy Regulatory Authority (ZERA) Saturday announced the reduction of fuel prices as the country inflation continues to tumble on the back of the government economic reforms.The sout...Published: 05 Jun 2021 at 19:12hrs | 4691 | by Staff reporter
RBZ mulls more stringent currency measures
GOVERNMENT is looking at adding more stringent currency measures to rein in the runaway exchange rate amid an outcry over the promulgation of Statutory Instrument 127 which business says will fuel inf...Published: 05 Jun 2021 at 09:20hrs | 1116 | by Staff reporter
Mthuli Ncube declares $9.8 billion budget surplus in 3 months
FINANCE Minister, Mthuli Ncube, Thursday claimed Zimbabwe had recorded a whopping $9.8 billion budget surplus during the first quarter of 2021.Zimbabwe is currently grappling to meet adequate ...Published: 04 Jun 2021 at 06:58hrs | 455 | by Staff reporter
Short term risks for Zim economy
The Zimbabwean economy is expected to register modest growth this year after 2 years of successive decline when currency changes, high inflation, extreme weather conditions and COVID-19 downturn wreck...Published: 03 Jun 2021 at 20:26hrs | 689 | by Victor Bhoroma
2021 Mid-Term Budget Expectations
Zimbabwe's mid-term budget for 2021 is expected to be presented in the beginning of July amid encouraging signs of economic recovery in the last 12 months. The country is undergoing a period of relati...Published: 03 Jun 2021 at 20:21hrs | 687 | by Victor Bhoroma
No need to compare Tendai Biti and Prof Mthuli Ncube
Following the recently introduced Statutory Instrument number 127 of 2021, where government has instructed the business community to use the Reserve Bank of Zimbabwe (RBZ) auction floor exchange rate,...Published: 03 Jun 2021 at 20:13hrs | 1658 | by Mukachana Hanyani
RBZ, business set for showdown over Statutory Instrument 127 of 2021
The Confederation of Zimbabwe Industries (CZI) wants the government to suspend the "heavy handed" decree promulgated last week as it has the potential to kill market confidence. Statutory Inst...Published: 03 Jun 2021 at 08:38hrs | 2940 | by Staff reporter
RBZ raises $380m in TBs
The Reserve Bank of Zimbabwe (RBZ) last week raised $380 million through Treasury Bills (TBs) after it issued a one-year paper that had targeted to raise $400 million.TBs are short-term financ...Published: 03 Jun 2021 at 06:56hrs | 84 | by Staff reporter
Mnangagwa says public service not a feeding trough
PRESIDENT Mnangagwa yesterday warned public office bearers against abusing goods and services meant for the people as he rallied the ruling party to occupy the space left by the country's ever squabbl...Published: 03 Jun 2021 at 06:54hrs | 331 | by Staff reporter
Are ZANU PF and MDC shameful governance failures proving Rhodesia's Smith right that Blacks not ready to govern themselves?
There are issues that are so emotive and sensitive, that even I try my best not to provoke them unnecessarily - or, at least, tread very carefully, being alive to their potential explosiveness - nonet...Published: 02 Jun 2021 at 11:21hrs | 2048 | by Tendai Ruben Mbofana
Civil servants should remain patient, says PSC
THE Public Service Commission (PSC) says civil servants should be patient and understand efforts being made to improve their livelihoods and working conditions as Government strives to balance between...Published: 02 Jun 2021 at 07:10hrs | 999 | by Staff reporter
'New forex measures could trigger civil unrest'
WORKERS' representatives yesterday said the new foreign currency measures could trigger civil unrest as workers demand salary hikes to match the rising cost of living.Government last week prom...Published: 01 Jun 2021 at 08:11hrs | 2606 | by Staff reporter
Zimbabwe forex deposits hit $108 billion
FOREIGN currency deposits held across the banking sector have increased to $108 billion under clear signs the prevailing economic stability has contributed to the upturn.The latest Reserve Ban...Published: 31 May 2021 at 18:56hrs | 1811 | by Staff reporter
'New forex rules a time bomb'
NEW foreign currency measures imposed by government last week are a time bomb that could lead to price increases, lower economic activity and herald a return to the hyperinflation era of yesteryear....Published: 31 May 2021 at 06:45hrs | 4524 | by Staff reporter
Mnangagwa forex rules trigger chaos
President Emmerson Mnangagwa's move to introduce a host of changes that effectively banned the use of foreign currency in local transactions has left business in panic mode amid fears of steep price i...Published: 30 May 2021 at 09:14hrs | 5502 | by Staff reporter
What are we really worth?
Recently I had breakfast with three friends and we were charged at the rate of ZW$115 to US$1 for our food, which was priced in US dollars.later I had coffee with another group of friends and ...Published: 28 May 2021 at 08:06hrs | 896 | by Eddie Cross
US economist places Zimbabwean inflation at double-digit
Zimbabwe’s annual inflation dropped by 32.2 percentage points in May to settle at 161.9% but month-on-month inflation rose from 1.6% in April to 2.5% in May.United States economist Steve Han...Published: 27 May 2021 at 22:47hrs | 1279 | by Staff reporter
Mnangagwa's govt admits policy failures
GOVERNMENT has conceded that it was found wanting in the implementation of previous economic blueprints and now pins its hopes on its ambitious National Development Strategy 1 (NDS1) to cure the curre...Published: 27 May 2021 at 07:24hrs | 2637 | by Staff reporter
Zimbabwe's monthly inflation climbs
ZIMBABWE'S month-on-month inflation rate in May stood at 1,80 percent gaining 0,86 percentage points on the previous month's rate of 0,94 percent, data released on Tuesday shows.In a latest up...Published: 26 May 2021 at 14:28hrs | 778 | by Staff reporter
Africa Day has lost its significance, says workers
WORKERS' unions yesterday said Africa Day, celebrated annually on May 25 since 1963, had lost its significance following the erosion of their rights, adding that the day now symbolised oppression of t...Published: 26 May 2021 at 06:23hrs | 132 | by Staff reporter
Banks to roll out incentives for depositors
The Reserve Bank of Zimbabwe and the banking sector are coming up with the nuts and bolts of interest payments on demand deposits to encourage people to deposit money in banks, rather than bury it und...Published: 26 May 2021 at 06:19hrs | 500 | by Staff reporter
Zimbabwe hit by serious shortage of cement, PPC fails to meet orders
Zimbabwe has been hit by a shortage of cement, leaving the construction industry stranded, while in some instances resorting to the black market.The country implemented a cement import ban (SI...Published: 25 May 2021 at 13:48hrs | 1623 | by Staff reporter
Zimbabwe supermarkets face implosion
ZIMBABWE's retail industry says it is facing an implosion unless the mid-term fiscal policy review set for July makes wide-ranging reforms to stimulate demand after 12 million consumers hit hard times...Published: 23 May 2021 at 07:45hrs | 5160 | by Staff reporter
Schools investigated for demanding teacher incentives
GOVERNMENT has warned schools against fleecing parents by demanding fees in foreign currency and payment of incentives to teachers saying this remains illegal and a chargeable offence.This com...Published: 23 May 2021 at 07:30hrs | 371 | by Staff reporter
Air Zimbabwe admin tables a fresh revival plan
ADMINISTRATORS of Air Zimbabwe (AirZim) have persuaded government to roll out a foreign currency funding model under which industries would be directed to deploy United States dollars into the broke a...Published: 21 May 2021 at 06:03hrs | 501 | by Staff reporter
IMF says Zimbabwe needs sound policies and donor support
ZIMBABWE needs a "broader reform and stabilisation agenda" to sustain an almost year-long effort by authorities to support the local currency and lower inflation, the International Monetary Fund said....Published: 21 May 2021 at 06:02hrs | 503 | by Staff reporter
'Sanctions have made Zimbabweans bolder'
BUSINESS and Zimbabwe at large should forget about baneful sanctions that were imposed by Western countries on the country and focus on local resources through value addition and increasing exports, P...Published: 20 May 2021 at 06:01hrs | 681 | by Staff reporter
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