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'Zimbabwe economy enters growth phase'
President Mnangagwa said Zimbabwe's economy has transitioned from recovery to a growth phase, adding economic activity is projected to expand by a weighty 4,6 percent in 2022 despite the negative impa...Published: 11 Aug 2022 at 06:38hrs | 353 | by Staff reporter
Zimbabwe tax-free threshold doubled, bonus windfall for workers
The tax-free threshold for income tax was doubled to $50 000 a month yesterday by Finance and Economic Development Minister Mthuli Ncube as part of the doubling of all tax bands to improve disposable ...Published: 29 Jul 2022 at 06:46hrs | 709 | by Staff reporter
Cyber-City putting Zimbabwe on 4th Industrial Revolution footing?
The Cyber-City development in Mount Hampden, a major investment by a group of Dubai-based investors and part of the efforts for Zimbabwe to push ahead through the Fourth Industrial Revolution, took an...Published: 21 Jul 2022 at 06:39hrs | 245 | by Staff reporter
Backlash over Chinese loans
ZIMBABWE'S debt-stricken administration last year struggled to access fresh loans to scale up ambitious plans to revamp key infrastructure projects after accumulating significant arrears on lifelines ...Published: 23 Jun 2022 at 06:47hrs | 715 | by Staff reporter
Chamisa to introduce full dollarisation
CITIZENS Coalition for Change (CCC) political party has effectively backed the need for Zimbabwe to adopt its own currency but maintained that such a strategy must only be implemented in a conducive e...Published: 22 Jun 2022 at 06:49hrs | 4054 | by Staff reporter
Chamisa outlines rapid and accelerated economic transformation plan
The CITIZENS government will come up with policy framework and turnaround strategy which among others includes the following:Develop demand driven policies informed by inclusive policies and i...Published: 21 Jun 2022 at 19:54hrs | 693 | by Nelson Chamisa
FULL TEXT: Nelson Chamisa's address to the nation
The CITIZENS government will come up with policy framework and turnaround strategy which among others includes the following:Develop demand driven policies informed by inclusive policies and i...Published: 21 Jun 2022 at 12:57hrs | 2941 | by Nelson Chamisa
'Timely IMF boost saved Zimbabwe'
A PAN African lender has ranked Zimbabwe among the biggest beneficiaries of the US$33 billion injected into the region's economies by the International Monetary Fund (IMF) last year.Africa Exp...Published: 14 Jun 2022 at 06:41hrs | 579 | by Staff reporter
Zimbabwe trade deficit hits US$34bn as industrialisation flops
ZIMBABWE has since 2002 accumulated a trade deficit of more than US$34 billion, a clear indication that the country's industrialisation-led import-substitution programmes have failed, new data show....Published: 11 Jun 2022 at 09:31hrs | 359 | by Staff reporter
Govt tops pension defaulters list
STATE enterprises and parastatals top the list of 50 employers paying their former workers measly pensions, while owing the Insurance and Pensions Commission (Ipec) $5,3 billion in pension contributio...Published: 09 Jun 2022 at 06:41hrs | 459 | by Staff reporter
Dollarization will lead to 'very nasty' events for Zimbabwe
FINANCE minister Mthuli Ncube has said the banking sector will be wiped out, causing a cash crisis if Zimbabwe ever fully dollarizes.This follows growing calls for government to adopt the USD ...Published: 08 Jun 2022 at 18:15hrs | 1191 | by Staff reporter
Why Zimbabwe's de-dollarization route flopped
The Zimbabwean government has announced measures to promote the wider use of the domestic currency (The Zimbabwean Dollar) in a last-ditch effort to save it from the re-dollarization onslaught. Part o...Published: 08 Jun 2022 at 07:08hrs | 4300 | by Victor Bhoroma
Zimbabwe's forex currency crisis worsens
An outlet in Harare's Graniteside industrial area has been turning away customers using local currency through point of sale (POS) platforms on the pretext that they are experiencing network failure....Published: 05 Jun 2022 at 09:16hrs | 2711 | by Staff reporter
IMF warns against Zimbabwe war veterans compensation
THE International Monetary Fund (IMF) has warned that the government's decision to compensate war veterans could have a major strain on the country's debt overhang.This comes after the governm...Published: 27 May 2022 at 20:17hrs | 2233 | by Staff reporter
Civil servants plot massive demonstration against poor wages
CIVIL servants under the Zimbabwe Confederation of Public Sector Trade Unions (ZCPSTU) are this Friday set to march against government's continued reluctance to pay them in US dollars.Worries ...Published: 26 May 2022 at 06:29hrs | 2534 | by Staff reporter
Import licences on seven grocery items removed
The government has removed import licences for seven commodities as more measures to contain prices and increase product availability continue to be unveiled.The new measures, which were revea...Published: 21 May 2022 at 16:27hrs | 4662 | by Staff Reporter
ZCTU slams Mnangagwa
THE Zimbabwe Congress of Trade Unions has slammed President Emmerson Mnangagwa for implementing a raft of economic stabilisation measures before consulting with partners at the Tripartite Negotiation ...Published: 16 May 2022 at 06:27hrs | 4126 | by Staff reporter
Mnangagwa guns for economic hitmen
PRESIDENT Emmerson Mnangagwa's administration has launched a massive clampdown on some big corporates suspected of conniving with local banks to borrow billions of Zimbabwean dollars which they used t...Published: 13 May 2022 at 19:14hrs | 394 | by Staff reporter
Govt cracks down on speculators
GOVERNMENT is clamping down on big corporates, which borrowed billions of Zimbabwe dollars and used the money for speculative activities while taking advantage of exchange rate movements to push up pr...Published: 13 May 2022 at 19:02hrs | 110 | by Staff reporter
Bank lending freeze targets big corporates enjoying 'arbitrage profits'
HARARE - The Zimbabwe government is clamping down on big corporates which borrowed billions in Zimbabwean dollars and allegedly used the money for speculative activities.Authorities say the co...Published: 13 May 2022 at 14:50hrs | 1450 | by Staff Reporter
Govt moves to compensate depositors
MILLIONS of taxpayers' money will be channelled into reimbursing depositors whose United States dollar bank balances were wiped out in 2019 when the Zimbabwe dollar was reintroduced.Finance mi...Published: 10 May 2022 at 07:46hrs | 1197 | by Staff reporter
Zimbabwe inflations quickens to 96.4%
Below is the full statement by Reserve Bank of Zimbabwe (RBZ) Governor John Mangudya on the resolutions of the Monetary Policy Committee (MPC) meeting of 29 April 2022.RESOLUTIONS OF THE MONET...Published: 03 May 2022 at 16:25hrs | 1559 | by Staff reporter
'Zimbabwe has $28 billion reserve money' Mnangagwa says
Zimbabwe has ZWL28 billion in reserve money, President Emmerson Mnangagwa has said. The President made the revelations through an OP-ED that was published in the state-owned Sunday Mail yesterday. ...Published: 02 May 2022 at 10:06hrs | 4022 | by Mandla Ndlovu
No return to horrors of 2008, says Mnangagwa
PRESIDENT Mnangagwa has warned economic saboteurs involved in illicit financial dealings to stop forthwith as they were reversing the wins gained so far in trying to grow the economy.President...Published: 01 May 2022 at 11:13hrs | 261 | by Staff reporter
Zimbabwe ranked the least attractive country for mining investments
ZIMBABWE has been ranked the least attractive destination for mining investments in the world in terms of mining policy and mineral potential.This was revealed by the Fraser Institute in their...Published: 21 Apr 2022 at 11:34hrs | 137 | by Staff reporter
IMF notes show no appetite for reform
The Executive Board of the International Monetary Fund (IMF) concluded its Article IV Consultation with Zimbabwe on 21 March 2022. The press release noted that real Gross Domestic Product (GDP) rose b...Published: 12 Apr 2022 at 16:50hrs | 631 | by Victor Bhoroma
Zimbabwe is best investment destination, claims Implats
South Africa's Impala Platinum Holdings (Implats) has described Zimbabwe as the best investment jurisdiction due to its predictable and supportive operating environment, which has allowed its investme...Published: 08 Apr 2022 at 06:42hrs | 126 | by Staff reporter
IMF notes show no appetite for reform
The Executive Board of the International Monetary Fund (IMF) concluded its Article IV Consultation with Zimbabwe on 21 March 2022. The press release noted that real Gross Domestic Product (GDP) rose b...Published: 01 Apr 2022 at 12:34hrs | 1040 | by Victor Bhoroma
'Auction system creating fresh public debt'
ZIMBABWE'S foreign currency system could be creating fresh debts for Zimbabweans who could be forced to settle them in the future, former Finance minister Tendai Biti warned yesterday.Biti, wh...Published: 30 Mar 2022 at 07:24hrs | 293 | by Staff reporter
Zimbabwe wallows in debt distress
ZIMBABWE has reached a critical moment in terms of its debt obligations as serious violations of constitutional provisions of public finance management continue unsolved.Deliberation at this w...Published: 28 Mar 2022 at 06:49hrs | 345 | by Staff reporter
Fresh trouble for Zimbabwe
AT least a third of Zimbabwe's estimated 16 million people face starvation as a result of high inflation and exchange rate fragilities, which have been compounded by a poor rainfall season, the Intern...Published: 25 Mar 2022 at 06:06hrs | 537 | by Staff reporter
IMF sees positive economic recovery signs in Zimbabwe
The International Monetary Fund (IMF) says there are positive signs of the economic recovery in Zimbabwe starting last year after two years of recession, adding that Government had done well in addres...Published: 25 Mar 2022 at 05:53hrs | 73 | by Staff reporter
Zanu-PF has already won by-elections, says Chiwenga
VICE-PRESIDENT Constantino Chiwenga yesterday said Zanu-PF had already won the March 26 by-elections and told party members to start celebrating.Speaking during the launch of the public procur...Published: 21 Mar 2022 at 06:42hrs | 882 | by Staff reporter
Zanu-PF has already won by-elections, says Chiwenga
VICE-PRESIDENT Constantino Chiwenga yesterday said Zanu-PF had already won the March 26 by-elections and told party members to start celebrating.Speaking during the launch of the public procur...Published: 19 Mar 2022 at 06:49hrs | 577 | by Staff reporter
Headwinds piling up for Zimbabwe
The United States Agency for International Development (USAid)'s food security arm, the Famine Early Warning Systems Network (Fewsnet) has warned of below average harvests this year and a shortlived i...Published: 18 Mar 2022 at 05:37hrs | 1019 | by Staf reporter
'Mineral leakages bleeding Zimbabwe economy'
SOCIO-ECONOMIC watchdog, Zimbabwe Coalition on Debt and Development (Zimcodd) has called on government to curb mineral leakages and export of raw minerals to help revive the economy.In its rec...Published: 15 Mar 2022 at 05:37hrs | 134 | by Staff reporter
Bulawayo dominates provincial GDPs
The Zimbabwe National Statistics Agency (ZimStat) provincial gross domestic product (GDP) data shows that nominal GDP per capita was highest in Bulawayo province at $203 868 in 2020 followed by Harare...Published: 15 Mar 2022 at 05:30hrs | 208 | by Staff reporter
'Zimbabwe political violence poses risk to region,' says American firm
An American research firm Fitch Solutions has said Zimbabwe poses political and economic risks in southern Africa ahead of the 2023 general elections.The report, produced in December 2021, sta...Published: 10 Mar 2022 at 06:07hrs | 231 | by Staff reporter
Mthuli Ncube to headline CZI conference
FINANCE minister Mthuli Ncube is set to headline the Confederation of Zimbabwe Industries (CZI) annual economic outlook symposium next Thursday, which is expected to seek solutions to price hikes and ...Published: 11 Feb 2022 at 05:46hrs | 246 | by Staff reporter
Treasury focussed on inflation, Zimdollar
TREASURY says it remains focused on reducing inflation and stabilising the exchange rate in its quest to achieve full macroe-conomic stability and attain the Government's medium term targets.I...Published: 11 Feb 2022 at 05:38hrs | 97 | by Staff reporter
Zimbabwe foreign currency receipts hits US$9,7 billion
A TOTAL US$9,7 billion receipts were injected into the economy last year, breaking the levels reached during the dollarisation era.Data contained in the latest Reserve Bank of Zimbabwe (RBZ) M...Published: 08 Feb 2022 at 05:41hrs | 1455 | by Staff reporter
Mthuli Ncube defends crumbling Zimdollar
FINANCE minister Mthuli Ncube has ruled out a return to dollarisation, as he maintained that huge pockets of the market required the free falling domestic unit.In an interview with Standardbus...Published: 06 Feb 2022 at 06:57hrs | 1225 | by Staff reporter
New Gates Foundation trustee led plot to overthrow Zim leader alongside US
WHILE Zimbabwean billionaire Strive Masiyiwa, recently appointed to the Bill & Melinda Gates Foundation to add his other high-profile board appointments such as at Rockefeller Foundation, is a rol...Published: 05 Feb 2022 at 19:41hrs | 1727 | by Staff reporter
Mangudya ranked worst performing central bank governor in Africa
The Central Banker Report Cards, published annually by Global Finance since 1994, grade the central bank governors of 101 key countries and territories, including the European Union, the Eastern Carib...Published: 12 Jan 2022 at 05:13hrs | 5077 | by Staff reporter
Zimbabwe edges closer to US$12bn target?
Government and private sector players in the mining industry are resolute in their commitments towards achieving the US$12 billion by 2023.Zimbabwe launched the Strategic Road to the Achieveme...Published: 03 Jan 2022 at 05:53hrs | 463 | by Staff reporter
Zimbabwe to borrow $147 billion in 2022
Finance and Economic Development Minister, Professor Mthuli Ncube, says the Treasury will borrow $146,8 billion using Treasury Bills (TBs) and Treasury Bonds in 2022 to finance key Government projects...Published: 01 Dec 2021 at 05:34hrs | 16 | by Staff reporter
Zimbabwe pays US$44m of foreign debt
PRESIDENT Emmerson Mnangagwa's administration paid US$44,2 million to foreign creditors during the nine months to September, as part of its refreshed debt repayment plan, data showed at the weekend....Published: 29 Nov 2021 at 05:36hrs | 18 | by Staff reporter
US$1bn SDRs to be used over three years
The US$958 million worth of Special Drawing Rights (SDRs) allocated to Zimbabwe by the International Monetary Fund (IMF) will be used over a three-year period, with US$311 million expected to be relea...Published: 28 Nov 2021 at 07:48hrs | 12 | by Staff reporter
Mnangagwa govt to borrow US$1,4bn
GOVERNMENT has announced a plan to borrow ZW$146,8 billion (about US$1,4 billion) in 2022 to fund various infrastructure development projects.This debt would add to the existing stock of US$13...Published: 26 Nov 2021 at 19:42hrs | 6 | by Staff Rporter
Policy incentives to reindustrialization lacking
Zimbabwe aspires to create an upper middle income economy with a Gross Domestic Product (GDP) of US$65 billion by 2030. This vision is premised on the reindustrialization strategy where competitivenes...Published: 24 Nov 2021 at 10:35hrs | 9 | by Victor Bhoroma
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