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Mnangagwa, central bank deliver damp squibs
President Emmerson Mnangagwa's recent State of the Nation Address (Sona) has come under heavy criticism from leading economists, who say it lacked concrete solutions to arrest the nation's spiraling e...Published: 10 hrs ago | 372 | by Staff reporter
Zinara claims to be liquid to rehabilitate roads
The Zimbabwe National Road Administration (Zinara) has pledged to continue rehabilitating and constructing roads across the country, assuring the public that it has secured sufficient funds for these ...Published: 10 Oct 2024 at 07:48hrs | 504 | by Staff reporter
Mnangagwa frets over resurgent black market
In his State of the Nation Address (SONA) delivered during the official opening of the second session of the 10th Parliament in Mt Hampden, President Emmerson Mnangagwa expressed deep concern over the...Published: 03 Oct 2024 at 08:58hrs | 566 | by Staff reporter
Mnangagwa warns forex dealers
In a bold move to stabilize the beleaguered Zimbabwe Gold (ZWG) currency, President Emmerson Mnangagwa announced on Wednesday that 50% of mining royalties will be allocated to bolster the currency's r...Published: 03 Oct 2024 at 08:58hrs | 1052 | by Staff reporter
Zimbabwe bankers warn of price increases
Bankers in Zimbabwe are raising alarms about potential price increases and shortages of basic commodities following the recent devaluation of the Zimbabwe Gold (ZiG) by over 40% by the Reserve Bank of...Published: 03 Oct 2024 at 08:56hrs | 297 | by Staff reporter
Zimbabwe govt working on currency stability
In a comprehensive State of the Nation Address delivered yesterday at the new Parliament Building in Mt Hampden, President Emmerson Mnangagwa highlighted the government's ongoing efforts to stabilize ...Published: 03 Oct 2024 at 08:47hrs | 167 | by Staff reporter
BAZ, central bank meet over policy interventions
The Bankers Association of Zimbabwe (BAZ) held a crucial meeting with the Reserve Bank of Zimbabwe (RBZ) governor, Dr. John Mushayavanhu, on Monday to address key policy changes from the Monetary Poli...Published: 03 Oct 2024 at 08:44hrs | 52 | by Staff reporter
An Open Letter to Finance Minister Mthuli Ncube
Dear Finance Minister Mthuli Ncube,As you navigate the complexities of Zimbabwe's economic landscape, a pressing matter deserves your urgent attention: the persistent depreciation of the Zimba...Published: 27 Sep 2024 at 22:51hrs | 837 | by Engineer Jacob Kudzayi Mutisi
Zimbabwe's gold backed currency ZiG plummets by over 75%
The Reserve Bank of Zimbabwe (RBZ) today allowed the Zimbabwe Gold (ZiG) currency to fall by over 74% against the US dollar, following weeks of mounting pressure on the currency introduced in April. A...Published: 27 Sep 2024 at 13:56hrs | 950 | by Staff reporter
Steve Hanke celebrates the demise of Zimbabwe's ZiG
US-based economist and currency expert Steve Hanke has issued a stark warning about Zimbabwe's economic situation, claiming that the country's inflation rate has reached a staggering 880% per year, de...Published: 27 Sep 2024 at 08:28hrs | 21425 | by Staff reporter
Overview of Popular Crypto Trading Platforms
Crypto Trading Platforms Over the past ten years, cryptocurrency trading has become somewhat popular since many platforms have developed to serve trader...Published: 25 Sep 2024 at 17:05hrs | 220 | by Staff Reporter
Zimbabwe's Water Crisis: Boreholes will cause more harm than good
This morning, as I watched a news report on the ongoing so-called ‘Presidential Borehole Drilling Scheme', my heart was troubled. Just how sustainable is the drilling of boreholes all over t...Published: 23 Sep 2024 at 18:29hrs | 2350 | by Tendai Ruben Mbofana
Wise farmers prepare land before the rains
The advent of Chinehasha Irrigation Scheme initiative that has seen 'boots on the ground' is a good omen for the locale and its environs. Our young farmers have the experience, zealousne...Published: 23 Sep 2024 at 18:25hrs | 626 | by Thomas Murisa
Econet's investment in Liquid may be poised for a decline in value
Morgan & Co, a prominent securities firm, has issued a cautionary warning to Econet Wireless Zimbabwe regarding its investment in Liquid Telecommunications Holdings (LTH). The firm anticipates a p...Published: 20 Sep 2024 at 11:14hrs | 661 | by Staff reporter
Zimbabwe injects US$64m into foreign currency market
The Reserve Bank of Zimbabwe (RBZ) has injected US$64 million into the foreign exchange market in response to a growing demand for hard currency, ensuring that all bona fide foreign currency applicati...Published: 20 Sep 2024 at 07:49hrs | 237 | by Staff reporter
TelOne jumps on Starlink train
TelOne, one of Zimbabwe's largest fixed internet providers, has announced its partnership with Starlink, becoming an authorized reseller of the satellite internet service. This move comes in response ...Published: 18 Sep 2024 at 15:33hrs | 2574 | by Staff reporter
Gordhan gave tenders to his cronies, leaves a fractured legacy
ONCE praised as an "incorruptible" crusader in South Africa, Pravin Gordhan has left behind a legacy tarnished by mistakes, poor leadership, and growing corruption claims, giving rise to the question ...Published: 15 Sep 2024 at 12:35hrs | 1127 | by Sizwe Dlamini, Thabo Makwakwa, Manyane Manyane
Bosso puts 38-seater bus up for sale
Highlanders FC has put up its 38-seater bus for sale, a vehicle acquired in 2014 with the assistance of President Emmerson Mnangagwa. The bus played a significant role in reducing the club's transport...Published: 15 Sep 2024 at 10:00hrs | 297 | by Staff reporter
PPC Zimbabwe remits US$11,3m dividend to PPC SA
PPC Zimbabwe remitted R203 million (US$11.3 million) in dividends to its South African parent after a strong performance in the fiscal year ending March 31, 2024. The company's CEO, Matias Ca...Published: 11 Sep 2024 at 08:37hrs | 96 | by Staff reporter
Late businesswoman's family pushed for top lawyer's arrest
The family of the late businesswoman Jane Maisiri is calling for the arrest of prominent lawyer Wilson Manase, accusing him of mismanaging her estate since her death in 2002. Manase, appointed as the ...Published: 08 Sep 2024 at 15:16hrs | 1882 | by Staff reporter
RBZ predicts further Zimbabwe economic downturn
The Reserve Bank of Zimbabwe (RBZ) has revised its 2024 economic growth forecast down to 2%, citing the severe drought's impact on economic activity. This is a sharp decline from earlier estim...Published: 06 Sep 2024 at 14:42hrs | 2579 | by Staff reporter
Zimbabwe banks reduce lending as crisis persists
Zimbabwe's banking sector is facing significant challenges that have limited its ability to lend, according to the Bankers Association of Zimbabwe (BAZ). Key issues include the absence of a le...Published: 06 Sep 2024 at 14:41hrs | 198 | by Staff reporter
Zimbabwe Central Bank issues revised forex market guidelines
The Reserve Bank of Zimbabwe (RBZ), through its Exchange Control department, has issued updated guidelines and compliance parameters for the interbank foreign exchange market, emphasizing the limitati...Published: 04 Sep 2024 at 07:46hrs | 126 | by Staff reporter
RBZ makes U-turn
The Reserve Bank of Zimbabwe (RBZ) has announced that holders of non-negotiable certificates of deposit (NNCDs) will now receive tradable government bonds. This decision comes in response to pressure ...Published: 03 Sep 2024 at 15:45hrs | 27482 | by Staff reporter
The Grand Tour: One for The Road - Zimbabwe edition to premiere on September 13
Prime Video has now unveiled a first look at the final episode of The Grand Tour: One For The Road.The first look snaps reveal emotional Grand Tour stars Jeremy Clarkson, 64, Richard Hammond, ...Published: 23 Aug 2024 at 15:32hrs | 305 | by Staff reporter
Zera sues 13 dealers over fuel contamination
Thirteen out of 155 fuel samples collected from retail sites across Zimbabwe were found to be contaminated or adulterated, falling below acceptable quality standards, according to a report by the Zimb...Published: 22 Aug 2024 at 07:05hrs | 262 | by Staff reporter
US$1m stolen from Namibian bank was paid to Mugabe's pilot
A total of N$18,8 million (US$1m) stolen from SME Bank was transferred to and laundered by former Zimbabwean president Robert Mugabe's pilot and confidant Robert Mhlanga.This is according to c...Published: 20 Aug 2024 at 16:18hrs | 8404 | by Staff reporter
South African Rand takes a hit
The rand and a number of South African stocks took a hit on Monday as investors moved away from purchasing riskier assets, and it became evident that the US may enter a recession.The rand was ...Published: 06 Aug 2024 at 09:12hrs | 1342 | by Staff reporter
ZiG uncertainties to frustrate GDP forecasts
Zimbabwe's economic growth prospects are facing serious challenges due to liquidity shortages and a severe drought, according to leading advisory firms and economists. In a recent mid-term bud...Published: 03 Aug 2024 at 12:57hrs | 195 | by Staff reporter
Mthuli Ncube makes bold measures to anchor ZiG stability
The Government has introduced measures to enhance the stability of the Zimbabwe Gold (ZiG) currency, promote its use, and provide tax relief to boost consumer spending and production. In the Mid-Term ...Published: 26 Jul 2024 at 06:32hrs | 364 | by Staff reporter
Chivayo's IMC doesn't have exclusive rights to partner Starlink
The Postal and Telecommunications Regulatory Authority of Zimbabwe (Potraz) has issued several internet service provider (ISP) licenses to various operators, clarifying that none of these licenses gra...Published: 20 Jul 2024 at 16:31hrs | 1052 | by Staff reporter
Zimbabwe diaspora remittances up 17%
In the first quarter of the year, diaspora remittances to Zimbabwe surged by 17%, reaching US$490 million compared to US$420 million during the same period in 2023. This increase in remittances is see...Published: 18 Jul 2024 at 06:41hrs | 159 | by Staff reporter
Cyril Ramaphosa's 'plot' to kill the ANC
SOME senior ANC leaders have accused President Cyril Ramaphosa of working with external parties to collapse the governing party and replace it with a centre-right coalition led by him after the 2024 g...Published: 17 Jul 2024 at 09:09hrs | 1717 | by Staff reporter
Zimbabwe should ditch the toxic US dollar
Zimbabwe's economy has been intertwined with the US dollar for over a decade, a relationship that began as a pragmatic response to hyperinflation and economic collapse in the late 2000s. The adoption ...Published: 12 Jul 2024 at 09:46hrs | 55 | by Staff writer
Cost-cutting money transfer facility launched
In the wake of liquidity crunch, economic meltdown and massive transaction taxation on remittances, TX Money Transfer has been launched this Wednesday to ease doing of business.The facility ha...Published: 11 Jul 2024 at 14:36hrs | 186 | by Edson Mapani in Buhera
Zimbabwe company ventures into lithium battery production
Verify Engineering, a Zimbabwean company, has started lithium battery production, aligning with Zimbabwe's focus on mineral value addition and beneficiation. With Africa's largest lithium reserves, Zi...Published: 08 Jul 2024 at 10:50hrs | 7 | by Staff reporter
Bleak outlook for Zimbabwe's consumers
Inter Horizon (IH) Securities, a prominent financial services firm, has released a sobering report on Zimbabwe's consumer spending patterns for 2024. The analysis paints a bleak picture, attributing t...Published: 07 Jul 2024 at 10:58hrs | 5 | by Staff reporter
Reserves backing Zimbabwe's ZiG shoot to US$370 million
Prices of goods and services in Zimbabwe are expected to remain stable, thanks to increased cash and mineral reserves backing the new currency, Zimbabwe Gold (ZiG). These reserves have risen from US$2...Published: 07 Jul 2024 at 10:34hrs | 75 | by Staff reporter
The Sentry report on Mutapa Fund is shallow and weak
I had the MISFORTUNE of going through a report prepared and distributed by The Sentry, possibly written by an excitable Nick Donovan. Long story short, the report is shallow and weak. Here is ...Published: 04 Jul 2024 at 16:37hrs | 11 | by MMatigary
EcoCash to invest in banking technologies
EcoCash Holdings Zimbabwe Limited (EcoCash) plans to invest in technologies to expand its banking unit, Steward Bank, after transferring its fintech firms to Econet Wireless Zimbabwe. This move was ap...Published: 02 Jul 2024 at 11:16hrs | 6 | by Staff reporter
Boost for ZSE as govt suspends tax on stocks
Government has implemented significant tax reductions and suspensions aimed at revitalizing trading activity on the Zimbabwe Stock Exchange (ZSE). The 40% capital gains tax (CGT) on stocks sol...Published: 02 Jul 2024 at 06:36hrs | 2 | by Staff reporter
Mnangagwa confirms structure to 'drip feed' ZWG into economy
Deputy Minister of Finance, Economic Development, and Investment Promotion, David Mnangagwa, acknowledged that the introduction of the Zimbabwe Gold (ZWG) currency in April has been characterized by a...Published: 01 Jul 2024 at 13:34hrs | 9 | by Staff reporter
Zimbabwe banks downplay ZWG shortages
Zimbabwe's banking sector has sought to downplay reports of severe liquidity shortages following the introduction of the new Zimbabwe Gold (ZWG) currency by the Reserve Bank of Zimbabwe (RBZ) on April...Published: 30 Jun 2024 at 18:32hrs | | 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
ZiG performance pleases RBZ, private sector leaders
Private sector leaders and the Reserve Bank of Zimbabwe (RBZ) have praised the performance of Zimbabwe's structured currency, the Zimbabwe Gold (ZiG), citing its stability and positive impact on price...Published: 28 Jun 2024 at 07:39hrs | 2 | by Staff reporter
Tackling Zimbabwe's property price surge
The Zimbabwean property market is facing significant challenges, marked by skyrocketing property prices that seem incongruous when compared to those in neighbouring South Africa.These challeng...Published: 24 Jun 2024 at 10:13hrs | 68 | by Dr Bekithemba Mpofu
Mutapa Fund facilitates US$431m loan for NRZ
The Mutapa Investment Fund (MIF) is facilitating a US$431 million loan from Afreximbank to support the National Railways of Zimbabwe (NRZ) in its infrastructural rehabilitation efforts. This developme...Published: 17 Jun 2024 at 09:00hrs | 2 | by Staff reporter
Ex- ZOL executive appointed IMC managing director
IMC Communications, the exclusive distributor of Starlink services in Zimbabwe linked to Wicknell Chivayo, has appointed Mr. Denny Marandure as its managing director. Mr. Marandure, an IT expert and f...Published: 12 Jun 2024 at 06:20hrs | 3 | by Staff reporter
Bulawayo tightens water rationing
THE Bulawayo City Council has further tightened its water rationing regime and introduced punitive fines for those exceeding daily expected limits.The stringent measures contained in the lates...Published: 09 Jun 2024 at 09:09hrs | 15 | by Staff reporter
Chitungwiza's Chibuku Breweries in hot soup for environmental violations
Chitungwiza's Chibuku Breweries has found itself at the center of controversy after reports surfaced of the company allowing liquid waste to flow into food processors, industrial areas, and Mapostori ...Published: 07 Jun 2024 at 06:28hrs | 6 | by George Tshuma
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