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'Zimbabwe printing $1 billion weekly to buy gold'
FORMER legislator and Monetary Policy Committee member Eddie Cross has made sensational claims that the Reserve Bank of Zimbabwe (RBZ) was printing $1 billion weekly mainly to buy gold.At the ...Published: 21 Jan 2021 at 06:46hrs | 3127 | by Staff reporter
Trail of relatives' deaths exposes cruel hand of Covid-19
My brothers and sisters last Friday I lost my elder brother Elvis to Covid-19. Elvis Maplanka was a prominent businessman in Bulawayo in the transport and retail sector. Over and above his business, h...Published: 20 Jan 2021 at 06:44hrs | 873 | by Apostle St Paul Maplanka
Ingwebu scales down operations
INGWEBU Breweries has scaled-down operations to 50 percent due to Covid-19 pandemic that has forced the Government to ban bottle stores from operating as part of measures to contain the disease. Befor...Published: 19 Jan 2021 at 07:22hrs | 514 | by Staff reporter
What caused the 50% plunge in Zimbabwe's fuel import bill?
ZIMBABWE'S fuel import bill fell by more than 50% in 2020, from US$1,2 billion the previous year.Figures recently released by the Zimbabwe National Statistics Agency (ZimStat), capturing data ...Published: 18 Jan 2021 at 06:03hrs | 1404 | by Staff reporter
Ramaphosa causes R2.5 billion investment cancellation
South African Breweries (SAB) has cancelled a further R2.5 billion of capital investment following the third blanket ban on alcohol sales, it announced on Friday.In announcing the ban, Preside...Published: 15 Jan 2021 at 10:44hrs | 2151 | by Staff reporter
'Zimbabwe inflation fall no cause for celebration'
ZIMBABWE's year-on-year inflation rate ended the year 2020 at 348,5% down from a high of more than 800% in July but analysts say it is no cause for celebration as it remains way too high."The ...Published: 15 Jan 2021 at 07:49hrs | 579 | by Staff reporter
Stockfeeds shortage hits the market
A SHORTAGE of stockfeeds has hit the market, with poultry farmers going from one supplier to another in search of the major input for their business.This comes at a time the country is faced with ...Published: 13 Jan 2021 at 07:59hrs | 369 | by Staff reporter
Zimdollar maintains stability after first auction of the year
THE Foreign Currency Auction Trading System resumed activity after the festive season break with the Zimbabwe dollar maintaining stability despite marginally weakening by 0,44 percent from an exchange...Published: 12 Jan 2021 at 17:58hrs | 1625 | by Staff reporter
Ramaphosa closes SA border to general traffic
South Africa will close its borders to general passenger traffic for the next two weeks to contain the spread of a new strain of Covid-19. President Cyril Ramaphosa announced the decision last night, ...Published: 12 Jan 2021 at 08:41hrs | 668 | by Staff reporter
Varun opens new production line
VARUN Beverages Zimbabwe Private Limited (VBZPL) has commissioned a new production line to ramp up production of its Aquaclear bottled mineral water.VBZPL is a subsidiary of the Indian headqua...Published: 10 Jan 2021 at 20:58hrs | 1003 | by Staff reporter
'Buy Zimbabwe' will never succeed as long as local companies produce sub-standard goods and services
Zimbabweans are generally a proudly patriotic people - who, never hesitate to show unquestionable devotion and love for their dear country - but, that dedication should never be equated to foolishness...Published: 10 Jan 2021 at 15:06hrs | 357 | by Tendai Ruben Mbofana
Zimbabwe to introduce new banknotes soon
THE Reserve Bank of Zimbabwe (RBZ) will soon introduce a new set of higher denomination banknotes to increase physical money supply, curb cash shortages and improve transacting convenience.Aut...Published: 10 Jan 2021 at 07:52hrs | 987 | by Staff reporter
Stringent govt lockdown requirements cripple companies
THE ministry of Industry and commerce has given industry a seven day moratorium to obtain exemptions to operate during the 30-day national lockdown while at the same time introducing stringent demands...Published: 10 Jan 2021 at 07:45hrs | 255 | by Staff reporter
Rights doctors flag Zimbabwe govt for weak Covid-19 lockdown measures
THE Zimbabwe Association of Doctors for Human Rights (ZADHR) has raised concerns over non-compliance to Covid-19 lockdown regulations by some citizens.The measures were imposed by government a...Published: 10 Jan 2021 at 07:44hrs | 103 | by Staff reporter
Zimbabwe's economic outlook for 2021
Zimbabwe's economy ended the year 2020 on a fairly stable note due to the return of the multi-currency regime and decline in general inflation levels in the market. Headwinds caused by incessant power...Published: 08 Jan 2021 at 21:02hrs | 1225 | by Victor Bhoroma
The soft peg and local economic stability
Zimbabwe introduced the Dutch inspired foreign exchange auction system on the 23th of June to replace the fixed exchange rate (hard peg) of US$1: ZW$25 that had been in existence since 26 March 2020. ...Published: 08 Jan 2021 at 20:58hrs | 513 | by Victor Bhoroma
Stanbic Bank to step up COVID-19 mitigation measures through digitisation
Leading financial services institution, Stanbic Bank, is banking on its top-notch innovative mobile and internet platforms to ensure its clients are well served throughout the 30-day lockdown....Published: 08 Jan 2021 at 11:33hrs | 377 | by Staff reporter
Lockdown violator rams into police drums
POLICE officers manning a roadblock in Bulawayo survived death by a whisker after a speeding motorist ploughed into barricades resulting in his car veering off the road and uprooting a street light. ...Published: 08 Jan 2021 at 07:30hrs | 686 | by Staff reporter
Kazembe orders ZRP to deal with windscreen smashing cops
HOME Affairs Minister Kazembe Kazembe has ordered the Zimbabwe Republic Police (ZRP) to take stern action against police operatives who smash vehicle windscreens in attempts to arrest offending motori...Published: 08 Jan 2021 at 07:21hrs | 614 | by Staff reporter
Govt told to tailor-make measures for COVID-19 hotspots
GOVERNMENT should identify COVID-19 provincial hotspots and implement tailored measures or different levels of the lockdown depending on the incidence of the virulent disease, human rights doctors hav...Published: 07 Jan 2021 at 08:25hrs | 343 | by Staff reporter
Job hunters defy Covid-19 regulations
BULAWAYO residents who survive on hunting for piece jobs are defying the Covid-19 lockdown regulations by continuing to flood the streets as part of their daily struggles to eke out a living. ...Published: 06 Jan 2021 at 06:51hrs | 272 | by Staff reporter
Dealing with Zimbabwe's hard lockdown
Zimbabwe started its a 30 day level four lockdown on Tuesday a move that is expected to save lives but have dire consequences on the economy and livelihoods. In announcing the lockdown measure...Published: 05 Jan 2021 at 07:24hrs | 3570 | by Staff reporter
Congestion, panic buying in Bulawayo
BULAWAYO residents yesterday defied stay-at-home lockdown measures that Government imposed with effect from Saturday to combat the spread of Covid-19. It was a hive of activity in the city cen...Published: 04 Jan 2021 at 23:04hrs | 1863 | by Staff reporter
Ministry of Industry & Commerce to issue exemption letters
POLICE yesterday said the Ministry of Industry and Commerce is now solely responsible for issuance of travel exemption letters for essential service workers who will be working during the tightened Le...Published: 04 Jan 2021 at 23:02hrs | 2328 | by Staff reporter
Zimbabwe govt enforces strict movement controls
Strict control of people's movements will be enforced as Zimbabwe returns to Level Four lockdown from today, with the Government seeing the 30-day tightening of the lockdown as the best way to rein in...Published: 04 Jan 2021 at 23:01hrs | 882 | by Staff reporter
Zimbabwe police announce movement restrictions
POLICE yesterday said only those classified as essential service providers would be allowed to travel into city centres for the next 30 days as government intensifies measures to contain the spread of...Published: 04 Jan 2021 at 22:30hrs | 1363 | by Staff reporter
Businessman 'divorces' wife over witchcraft
A Bulawayo businessman is embroiled in a bitter marital battle which has all elements of a soap opera after his wife sensationally claimed her marriage had been turbulent and fraught with fights, quar...Published: 02 Jan 2021 at 13:59hrs | 1419 | by Staff reporter
Xmas rush exposes banks
A STEEP rise in demand for liquid cash experienced during the Christmas period exposed weaknesses in Zimbabwe's electric money strategy, a NewsDay Business survey revealed. Clients said electr...Published: 01 Jan 2021 at 07:39hrs | 737 | by Staff reporter
Zimra, CZR escalate rice tax standoff
THE Confederation of Zimbabwe Retailers (CZR) has maintained that the Zimbabwe Revenues Authority (Zimra) is failing to interpret laws in its move to charge 15% value added tax (VAT) on rice packaged ...Published: 30 Dec 2020 at 07:32hrs | 191 | by Staff reporter
Big brands troop into Victoria Falls facility
A STRING of the country's big brands, including fast food outlets, has stampeded into Zimre Property Investments' Sawanga Mall in Victoria Falls, helping the top end real estate gem notch 95% occupanc...Published: 28 Dec 2020 at 07:32hrs | 1211 | by Staff reporter
Bread price jumps 13,8%
THE price of a standard loaf of bread has risen by 13,8 percent this week to $82 from $72 and consumers feel the move is not justified. Some retailers, who had already effected the latest pric...Published: 25 Dec 2020 at 07:11hrs | 997 | by Staff reporter
Zimra 'clarifies' backdated VAT on rice
THE Zimbabwe Revenue Authority (Zimra) has maintained that the collection of Value Added Tax (VAT) on rice packages of 25 kilogrammes and below, which is being backdated to February 2017, is in line w...Published: 25 Dec 2020 at 07:11hrs | 344 | by Staff reporter
Christmas fever grips Bulawayo
HUNDREDS of people yesterday thronged supermarkets in Bulawayo to make last-minute shopping ahead of Christmas Day today. Shop attendants said they recorded much business with many outlets res...Published: 25 Dec 2020 at 07:08hrs | 392 | by Staff reporter
Zimbabwe unveils US$8 billion industrialisation plan
INDUSTRY and Commerce minister, Sekai Nzenza, has unveiled a massive industrialisation plan which seeks to transform Zimbabwe's 94 manufacturing and commercial sub-sectors into a mouthwatering US$8 bi...Published: 24 Dec 2020 at 16:58hrs | 638 | by Staff reporter
Bleak Christmas as cost of living rises again
THE cost of living for a family of six increased by 5,66% to $22 976 in November, underpinned by a rampaging parallel market exchange rate, according to the Consumer Council of Zimbabwe (CCZ)....Published: 23 Dec 2020 at 07:11hrs | 478 | by Staff reporter
Zimdollar depreciates
Parallel market Zipit rates have held steady within the 110-115 range although it seems that volume sellers were scarce within the past couple of days. At the same time, the local currency slipped aga...Published: 22 Dec 2020 at 17:40hrs | 2581 | by Staff reporter
Can the South African Rand Hold its Position Against the Greenback?
The South African rand remains one of the poster boys for emerging currencies across the globe, and like many of its contemporaries it has experienced a highly turbulent 2020.For example, the ...Published: 22 Dec 2020 at 17:22hrs | 1374 | by Staff writer
Backlash over rice tax
THE Confederation of Zimbabwe Retailers (CZR) came out guns blazing yesterday, slamming the Zimbabwe Revenue Authority (Zimra) for undermining business confidence following latest moves to charge Valu...Published: 22 Dec 2020 at 07:04hrs | 586 | by Staff reporter
RBZ urged retailers to accept torn and soiled US$ bank notes
THE Reserve Bank of Zimbabwe (RBZ) governor, John Mangudya has urged retailers and other traders to accept both old and worn out US dollar bank notes as legal tender.The central bank chief's p...Published: 22 Dec 2020 at 06:32hrs | 321 | by Staff writer
Mthuli Ncube launches agricultural commodities exchange
THE Zimbabwean government on Monday launched the agricultural commodities exchange that will ensure farmers get market determined prices for their commodities.Zimbabwe previously had a commodi...Published: 22 Dec 2020 at 06:31hrs | 219 | by Staff writer
Mangudya threatens to freeze businesses' bank accounts
RESERVE Bank of Zimbabwe (RBZ) governor John Mangudya has threatened to freeze the bank accounts of businesses which are taking advantage of the lower forex auction rate to make exchange gains through...Published: 21 Dec 2020 at 06:38hrs | 1278 | by Kennedy Kaitano
Stanchart in eye of storm over Mthuli Ncube tax
Standard Chartered Bank Zimbabwe has been criticised for its plans to unilaterally recover from customers uncollected transaction taxes, dating back two years, in just three months. For unknow...Published: 17 Dec 2020 at 06:52hrs | 668 | by Staff reporter
'Mthuli Ncube tax' a huge success
ZIMBABWE managed to avert a potential Covid-19 pandemic disaster while civil servants are receiving their salaries on time and infrastructural development projects are underway across the country - a ...Published: 16 Dec 2020 at 06:44hrs | 791 | by Staff reporter
Indian investors target Vic Falls
Victoria Falls, which was declared a city last week and is already a special economic zone, has started attracting foreign investors, with an Indian transnational firm with interests in the health sec...Published: 16 Dec 2020 at 06:39hrs | 479 | by Staff reporter
2021 National Budget: The Good & the Bad
Zimbabwe's 2021 national budget set a taxing agenda with a 126% jump in budgeted revenues from ZW$173 billion (About US$2.12 billion) anticipated in 2020 to ZW$391.8 billion (US$4.8 billion) budgeted ...Published: 14 Dec 2020 at 13:54hrs | 381 | by Victor Bhoroma
Zimbabwe looking forward to merrier Christmas
Ordinary Zimbabweans and businesses are poised to have a much better festive season this year. This comes as the Zimdollar has been holding steady against the US dollar in recent months. ...Published: 14 Dec 2020 at 07:46hrs | 368 | by Staff reporter
PG Industries relocates its Bulawayo Centre
GIANT building materials producer and supplier, PG Industries, has relocated its Bulawayo PG Centre branch from Donnington Industrial Area to Belmont Industrial Area. For many years, the compa...Published: 14 Dec 2020 at 07:10hrs | 652 | by Staff reporter
Five-star Euro NCAP rating for the award-winning New Land Rover Defender 110
South Africa, 9 December 2020 - The award-winning New Land Rover Defender 110* has earned another five-star review - this time from the safety experts at Euro NCAP. Land Rover's most capable and durab...Published: 09 Dec 2020 at 09:31hrs | 1121 | by Agencies
332 COVID-19 cases reported in schools
GOVERNMENT says 332 new COVID-19 infections have so far been reported at learning institutions, but most of the cases were asymptomatic, obviating the need to close schools.This was said by De...Published: 08 Dec 2020 at 21:26hrs | 338 | by Staff reporter
Increased demand for US$ on black market
An increase in US$ demand on the parallel market has seen the rate shifting upwards although it remains range bound. Rates are being quoted from $105 to $120 with demand mostly coming from small trade...Published: 08 Dec 2020 at 18:27hrs | 1487 | by Staff reporter
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