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Mthuli Ncube's new tax regime to trigger price hikes
The recently proposed tax regime by Finance Minister Mthuli Ncube is anticipated to lead to significant price increases, with the Grain Millers Association of Zimbabwe (GMAZ) forecasting a potential U...Published: 34 mins ago | 23 | by Staff reporter
Retailers want zero VAT restored on basics
THE Confederation of Zimbabwe Retailers has called on Finance, Economic Development and Investment Promotion Minister Mthuli Ncube to reverse proposals to introduce Value Added Tax on a small range of...Published: 06 Dec 2023 at 05:04hrs | 273 | by Staff reporter
Zimbabwe's Cross Border traders commend price stability measures
The Zimbabwe Cross Border Traders Association (ZCBTA) has commended authorities for implementing comprehensive measures that have contributed to price stability. The recognition follows the maintenanc...Published: 23 Nov 2023 at 05:45hrs | 214 | by Staff reporter
Can we honestly say someone in ICU is 'doing very well'?
So, finance minister Mthuli Ncube actually believes Zimbabwe's economy is 'doing very well'!Wow!Talk about delusional thinking!Or, perhaps it is just someone who is deliberatel...Published: 03 Nov 2023 at 17:56hrs | 560 | by Tendai Ruben Mbofana
Zimbabwe retailers index prices in USD
The foreign currency exchange rate system implemented by the Reserve Bank of Zimbabwe (RBZ) mandates that prices must be displayed in both local currency and foreign currency. Retailers are required t...Published: 31 Oct 2023 at 05:37hrs | 168 | by Staff reporte
Prices skyrocket in Zimbabwe
The ongoing depreciation of the local currency is plunging Zimbabweans further into economic hardship, causing prices of essential goods and services to soar beyond the means of most low-income famili...Published: 27 Oct 2023 at 06:18hrs | 491 | by Staff reporter
Mnangagwa law blamed for high US$ pricing
Industry and Commerce Minister, Sithembiso Nyoni, attributed the current high pricing in US dollars to Statutory Instrument (SI) 118A of 2022.SI 118A, enacted under the Presidential Powers (Te...Published: 25 Oct 2023 at 06:51hrs | 799 | by Staff reporter
Shortages of goods in Zimbabwe under probe
Industry and Commerce Minister Dr. Sithembiso Nyoni has addressed the artificial shortage of some essential goods in Harare's formal market, with a focus on ensuring price stability. During an engagem...Published: 25 Oct 2023 at 06:34hrs | 311 | by Staff reporter
Zimbabwe orders foreigners to get required documentation to continue operating businesses
The government has issued a directive requiring foreign nationals to obtain proper documentation in order to conduct business operations. This decision was prompted by the discovery that some expatria...Published: 24 Oct 2023 at 21:41hrs | 372 | by Staff reporter
'Boycott Israeli goods over blood bath,' says Malema
South Africa's third biggest political party, the Economic Freedom Fighters, has held a protest outside the Israeli embassy in the capital, Pretoria.Party leader Julius Malema once again calle...Published: 24 Oct 2023 at 06:11hrs | 579 | by Staff reporter
LP gas vendors arrested
The Zimbabwe Energy Regulatory Authority (ZERA) has reported the arrest and conviction of a minimum of 80 illegal vendors of Liquefied Petroleum Gas (LP gas) since the start of the year, along with th...Published: 23 Oct 2023 at 06:14hrs | 538 | by Staff reporter
Zimbabweans rejects Mbuya Nehanda note as inflation soars
Vendors and some retailers in Harare are now refusing to accept the ZW$50 banknote introduced in 2021 by Reserve Bank of Zimbabwe (RBZ) Governor John Mangudya. This refusal is unsurprising as the note...Published: 05 Oct 2023 at 19:50hrs | 998 | by Staff reporter
Guvamatanga rubbishes retailers' complaints over spaza shop influx
George Guvamatanga, the Secretary of the Ministry of Finance, has chosen to downplay the impact of tuck shops on formal retailers. Instead, he has suggested that many businesses are being managed by i...Published: 03 Oct 2023 at 06:18hrs | 836 | by Staff reporter
Cost of living rises as Zimdollar slips
The cost of living has surged by an additional 4.8% to reach ZWL$95,462.53 per person in September, driven by the ongoing depreciation of the Zimbabwean dollar against the US dollar. The count...Published: 29 Sep 2023 at 06:22hrs | 228 | by Staff reporter
Zimbabwe business calls on presidential poll loser to concede defeat
ZIMBABWE'S industries this week called for a peaceful post-election period, as they made a passionate plea to frontrunners in the presidential poll to concede defeat and help the country focus on rebu...Published: 29 Aug 2023 at 08:12hrs | 1086 | by Staff reporter
'Withdrawal of Zimbabwe Exemption Permits is discriminatory and inhumane'
New research has indicated that the biggest challenge in documenting immigrants is procedure, which increasingly excludes people who are considered 'not useful' to the South African economy.Th...Published: 14 Aug 2023 at 06:40hrs | 10 | by Staff reporter
Zimbabwe govt increases tax-free threshold
GOVERNMENT has increased the tax-free threshold to $500 000 from $91 000 with effect from August 1 to boost Zimbabweans' disposable incomes who earn in local currency in the face of a rising cost of l...Published: 10 Aug 2023 at 06:43hrs | 61 | by Staff reporter
Gold tokens to become medium of exchange in Zimbabwe
THE Reserve Bank of Zimbabwe (RBZ) is finalising the modalities of rolling out the gold-backed digital tokens as a medium of exchange for domestic transactions to complement the US dollars, Governor D...Published: 10 Aug 2023 at 06:43hrs | 8 | by Staff reporter
'Zimbabwe to record biggest inflation decline'
Zimbabwe is expected to record the biggest fall in inflation in the southern African region next year, according to the latest report by the African Development Bank (AfDB).This is largely due...Published: 04 Aug 2023 at 06:37hrs | 8 | by Staff reporter
Shops cash in on Zimdollar change shortage
ZIMBABWE is currently battling a local currency liquidity crisis which has resulted in large retail shops failing to give change to consumers who buy goods in United States dollars (US$), NewsDay has ...Published: 01 Aug 2023 at 06:31hrs | 7 | by Staff reporter
Hwange Power Station Unit 7 put into commercial operation
TRIALS have ended for the new Hwange Thermal Power Station's Unit 7 which has now been successfully put into commercial operation to provide an uninterrupted 300MW electricity supply to the national g...Published: 28 Jul 2023 at 06:43hrs | | by Staff reporter
RBZ sweet-talks millers
The Reserve Bank of Zimbabwe Governor John Mangudya has sweet-talked millers to reduce prices of maize meal, flour and salt ahead of elections.After successfully meeting with a high-level dele...Published: 24 Jul 2023 at 20:32hrs | 14 | by Simbarashe Sithole
Bulawayo guns for green city status
BULAWAYO City Council has started consulting various stakeholders as it gears to attains green city status in the next few years.In a notice this week, town clerk Christopher Dube said: "The C...Published: 14 Jul 2023 at 08:59hrs | 7 | by Staff reporter
Biti says pharmacy licence cancellation illegal
FORMER finance minister, Tendai Biti, says the suspension and cancellation of trading licences for pharmaceutical companies for flouting foreign exchange regulations is "blatantly illegal, puerile and...Published: 14 Jul 2023 at 07:45hrs | 8 | by Staff reporter
Zimbabwe govt punishes rogue businesses
THE Ministry of Finance and Economic Development has suspended trading licences for 17 pharmacies for violation of the Exchange Control directives and Government policy where they were using speculati...Published: 12 Jul 2023 at 08:16hrs | 2 | by Staff reporter
'Greedflation' rocks Zimbabwe
THE ZW$ gained by 4,8% on the Reserve Bank of Zimbabwe Foreign Exchange Auction Tuesday amid concerns that most retailers remain reluctant to reduce prices of basic goods.A trading update rele...Published: 12 Jul 2023 at 08:13hrs | | by Staff reporter
Discover London: An Extensive Guide for Zimbabwean Travelers
London is one of the world's most visited cities and really needs no introduction. Home to iconic architecture, vibrant nightlife, and rich culture, London is a must-visit destination for all traveler...Published: 10 Jul 2023 at 18:52hrs | 18 | by Staff Reporter
Govt descends on price manipulators
THE Consumer Protection Commission (CPC) will soon impose heavy fines on retailers that have not reduced prices of their goods in line with movements of the exchange rate on the interbank market....Published: 09 Jul 2023 at 10:30hrs | 14 | by Staff reporter
Zimdollar demand soars
DEMAND for the Zimbabwean dollar continues to soar as more businesses and individuals seek to transact using the local currency, which has regained its lost value for the third consecutive time at the...Published: 05 Jul 2023 at 07:15hrs | 3 | by Staff reporter
Zimdollar shortage hits market
A serious shortage of Zimbabwe dollar has hit the market on fiscal and monetary policy measures amid fears the crunch will affect aggregate demand.The liquidity squeeze follows recent me...Published: 30 Jun 2023 at 16:08hrs | | by Staff reporter
Zimbabwean business fears its government will interfere with the exchange rate
ZIMBABWEAN businesses fear that President Emerson Mnangagwa's administration, which is blaming foreign companies of inflating prices ahead of a key election in August, could resort to interfering with...Published: 26 Jun 2023 at 06:52hrs | 33 | by Staff reporter
Zimbabwe business jittery as electioneering goes a gear up
The business community fears that the government could resort to exchange rate control to manage inflation and price increases. Picture: Shepherd TozvirevaZimbabwean businesses fear that Presi...Published: 25 Jun 2023 at 09:37hrs | | by Staff reporter
Money-spinning in Zimbabwe shadow economy
WHILE local shoppers traditionally flocked to big groceries and supermarkets for bargains on consumer goods, of late, they have been trooping to "tuckshops" in downtown Harare, where basic commodities...Published: 25 Jun 2023 at 09:31hrs | 6 | by Staff reporter
Mthuli Ncube remains mum as Zimdollar crashes
FINANCE minister Mthuli Ncube's failure to update the nation on the state of the economy, despite several calls by legislators, shows the typical arrogance associated with Zanu-PF leaders when confron...Published: 22 Jun 2023 at 08:44hrs | 7 | by Staff reporter
Zimbabwe consumers in a fix
As Zimbabweans continue to battle with a failing economy, increases in prices of basic commodities has pushed many into abject poverty.A recent survey conducted by Standardbusiness indic...Published: 18 Jun 2023 at 08:40hrs | | by Staff reporter
Overpricing shops penalised, 16 bank accounts frozen in RBZ price blitz
THE Reserve Bank of Zimbabwe Financial Intelligence Unit (FIU) has ordered retailers and manufacturers who were exclusively charging certain goods in foreign currency and using the black-market rate f...Published: 18 Jun 2023 at 08:35hrs | | by Staff reporter
Zimbabwe retailers ban in-store pictures
RETAIL giants in Harare have reportedly resorted to banning customers from taking pictures of commodity prices and some shoppers have been forced to delete photos of prices.The retailers' stan...Published: 17 Jun 2023 at 08:08hrs | 3 | by Staff reporter
Mr. President, you can't make the nation suffer simply because of your ego!
Pride comes before a fall! When I had the inspiration for this article, a certain scenario played out in my mind.I imagined an egoistical father - who was adamant that every 'respectab...Published: 17 Jun 2023 at 07:23hrs | 11 | by Tendai Ruben Mbofana
Kembo Mohadi slams propaganda cartels
ZANU- PF Second Secretary, Kembo Mohadi has slammed Western media and propaganda cartels using social media for causing unwarranted panic among citizens through their ill-conceived messaging on price ...Published: 16 Jun 2023 at 07:51hrs | | by Staff reporter
Retailers defy Mnangagwa's government
SOME big supermarkets in Bulawayo are now exclusively charging certain goods and products in foreign currency and using the black-market rate for currency conversions in defiance of Government monetar...Published: 15 Jun 2023 at 06:44hrs | | by Staff reporter
GMAZ in US6 Million loss
The Grain Milling Association of Zimbabwe (GMAZ) has lost over USD 6 million over the past three months due to the continuous loss of value of the local currency.The board's chairman, Dr Tafad...Published: 14 Jun 2023 at 18:43hrs | | by Desmond Nleya
Zimbabweans fear repeat of 2008 inflation as Zimdollar nosedives
Zimbabwean businesses and households are fearing a repeat of the hyperinflation seen more than a decade ago as prices of basic commodities spike after a sharp weakening in the local currency, despite ...Published: 14 Jun 2023 at 18:08hrs | | by Staff reporter
Zimdollar rescue mission too late
THE surprise move by Zimbabwe's fiscal and monetary authorities to liberalise the foreign exchange policy after months of shillyshallying amid a fixed rate could be a case of closing the stable door a...Published: 12 Jun 2023 at 06:45hrs | 8 | by Staff reporter
Gas shortage looms in Zimbabwe
ZIMBABWE may face shortages of liquified petroleum gas (LPG) after wholesalers were ordered to have 48kg cylinders branded at short notice or have their licences cancelled.In a notice, the Zim...Published: 07 Jun 2023 at 08:42hrs | 4 | by Staff reporter
Zimdollar's black month
THE official auction and interbank exchange rates rose by about 100% and 150%, respectively, last month marking a significant depreciation of the Zimbabwe dollar, a new report has found.At the...Published: 05 Jun 2023 at 06:53hrs | 6 | by Staff reporter
Zimbabwe millers, retailers in stand-off over mealie meal
The Grain Millers Association of Zimbabwe (GMAZ) says mainstream retail shops have low stocks of mealie meal because they want the product on credit terms at a time the exchange rate is volatile....Published: 04 Jun 2023 at 08:38hrs | 4 | by Staff reporter
Banks scale back Zimbabwe dollar lending
BANKS have significantly reduced lending in the local currency ever since monetary authorities hiked interest rates last year to prevent rent-seeking behaviour by individuals and corporates, Reserve B...Published: 04 Jun 2023 at 08:29hrs | 1 | by Staff reporter
Mthuli Ncube feels heat
THE government's ambitious growth projections are unlikely to be met because of protracted blackouts, which have stifled exports and further weakened the local currency.In December last year, ...Published: 02 Jun 2023 at 18:17hrs | 7 | by Staff reporter
Mealie-meal shortage hits Zimbabwe?
ILLICIT deals involving some unscrupulous suppliers and traders have been blamed for creating artificial shortages of mealie-meal in formal shops while the commodity is being diverted to the streets a...Published: 01 Jun 2023 at 06:42hrs | 1 | by Staff reporter
Mthuli Ncube says currency manipulators won't rest
Currency manipulators and economic saboteurs will always be lurking about looking for opportunities and loopholes to unjustly profiteer but authorities will also be always ready to institute measures ...Published: 31 May 2023 at 06:58hrs | | by Staff reporter
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