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Zimbabwe is undermining the ZiG by overspending
Zimbabwe's new gold-backed currency is likely being undermined by the state tapping the central bank for funding and selling Treasury bills to pay for its overspending, Imara Asset Management said....Published: 18 Oct 2024 at 08:54hrs | 1264 | by Staff reporter
EcoCash reintroduces US-dollar loans
LEADING financial services company, EcoCash, has re-introduced the Kashagi loans in United States dollars, reaffirming its commitment to providing accessible financial services to its customers....Published: 06 Feb 2024 at 15:01hrs | 3 | by Staff reporter
Civil servants scoff at split-bonus payments
CIVIL servants are not happy with government splitting payment of their annual bonus into two batches, saying the arrangement was meaningless considering their meagre salaries.They have been d...Published: 24 Nov 2023 at 05:36hrs | | 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 | 1 | by Staff reporter
Zimbabwe ready to dump US dollar
PRESIDENT Mnangagwa has said the country is agreeable to the use of alternative forms of payment for various transactions as opposed to the sole use of the United States dollar.Yesterday durin...Published: 28 Jul 2023 at 06:44hrs | 7 | 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 | | by Staff reporter
Mthuli Ncube's import duty waiver on basic goods praised
ZIMBABWEANS have applauded the Government for lifting all restrictions on the import of basic commodities to boost market supplies and granting a 100 percent retention of domestic foreign currency ear...Published: 06 Jun 2023 at 06:17hrs | | by Staff reporter
Forex speculators to face disciplinary action
THE market should expect significant restoration of stability in the pricing of basic goods in response to comprehensive Government measures while disciplinary action will be swiftly meted against bus...Published: 23 May 2023 at 06:34hrs | 1 | by Staff reporter
Zimbabwe govt lifts import restrictions on basics
GOVERNMENT has lifted all restrictions on the importation of basic commodities to boost market supplies and granted 100 percent retention of domestic foreign currency earnings, with a further fine-tun...Published: 12 May 2023 at 06:00hrs | | by Staff reporter
Zera cuts US-dollar diesel price
THE Zimbabwe Energy Regulatory Authority (Zera) has announced a drop in the price of diesel in forex terms for this month while blend petrol remains at the same price in line with the trends on the in...Published: 06 May 2023 at 06:31hrs | | by Staff reporter
NUST student has solutions to power challenges
HE started with developing a unique dry biomass-powered prototype machine in 2020, which has the capacity to pump up to 60 000 litres of water per hour, a model that could be scaled up for use on larg...Published: 11 Oct 2022 at 06:04hrs | 1 | by Staff reporter
'Allocate more funds for Nkayi projects'
GOVERNMENT has been urged to increase funding in the 2023 budget to ensure speedy completion of the Bulawayo-Nkayi Road and Ziminya Dam projects, which would enhance economic activity and create more ...Published: 04 Oct 2022 at 06:08hrs | 1 | by Staff reporter
Zimdollar, US dollar exchange rate cleavage narrows
THE narrowing of the gap between parallel market and official exchange rates from an elevated level of 140 percent in May to current levels of between five percent and 15 percent is a significant move...Published: 29 Sep 2022 at 05:56hrs | | by Staff reporter
Zimbabwe inflation tumbles to 3,5%?
ZIMBABWE'S month-on-month inflation rate has drastically dropped to 3,5 percent in September, shedding 8,9 percentage points on the August rate of 12,4 percent as price stability persists across the m...Published: 27 Sep 2022 at 05:52hrs | | by Staff reporter
Mnangagwa laments banking sector rot
GOVERNMENT's recent adoption of tough economic measures is in response to mischievous behaviour by some economic players and syndicates who are bent on sabotaging the economic transformation achieved ...Published: 16 Jul 2022 at 10:29hrs | 7 | by Staff reporter
Gwanda mine raises US$8 million from Victoria Falls bourse
WITH only six months after officially listing on the Victoria Falls Stock Exchange (VFEX), Jersey domiciled gold producer, Caledonia Mining Corporation, which operates Blanket Mine in Gwanda, says the...Published: 09 Jun 2022 at 06:37hrs | 7 | by Staff reporter
Telecel introduces US-dollar products
MOBILE operator, Telecel Zimbabwe, has introduced a new US$1 promotional recharge bundle that has various packages that offer more convenience and greater airtime purchase options for customers....Published: 06 May 2022 at 19:29hrs | | by Staff reporter
RBZ to double down in inflation fight
Reserve Bank of Zimbabwe (RBZ) will deploy various monetary tools at its disposal to stem out rampant "market indiscipline" that it believes is driving price increases.Market indiscipline, the...Published: 03 Apr 2022 at 08:20hrs | | by Staff reporter
Zimbabwe will not dollarise, says Prof Ncube
GOVERNMENT has reiterated that it will not dollarise the economy, brushing off demands from various sectors for it to do so in the face of the weakening local currency.Zimbabwe re-introduced i...Published: 25 Feb 2022 at 05:42hrs | | by Staff reporter
MPs echo US-dollar salary demands
LEGISLATORS have joined the call for adoption of United States dollar salaries in a vote of no confidence in the local currency, a development government said wasdisheartening.Public and p...Published: 19 Feb 2022 at 18:34hrs | | by Staff reporter
Power cuts threaten growth targets
Players in the manufacturing industry and mining sector have warned that continued power cuts could derail first quarter 2022 economic growth targets due to lost production time.This follows a...Published: 17 Jan 2022 at 06:28hrs | | by Staff reporter
Bread price set to rise
ZIMBABWE'S baking sector has been thrown off balance by escalating fuel prices and deadly power cuts that have recently rattled the economy.So dire is the situation that some baking industry e...Published: 24 Dec 2021 at 16:39hrs | 8 | by Staff reporter
Forex bonus withdrawals overwhelm banks
SCORES of civil servants and pensioners continued to queue outside banking halls in Bulawayo yesterday seeking to withdraw their foreign currency, forcing some banks to seek police intervention to con...Published: 12 Dec 2021 at 19:56hrs | 6 | by Staff reporter
Trust gets US$5million, collapses in 3 years
THE Marange-Zimunya Community Share Ownership Trust (MZCSOT) has collapsed only three years after the Zimbabwe Consolidated Diamonds Corporation (ZCDC) injected US$5 million to prop it, a Zimbabwe Ind...Published: 08 Oct 2021 at 18:58hrs | 9 | by Staff reporter
'Banks troop back into Zimbabwe agric funding'
GOVERNMENT has announced a fresh plan to attract banks into funding agricultural production, with draw-downs from the recently released International Monetary Fund Special Drawing Rights (SDRs) being ...Published: 03 Sep 2021 at 06:57hrs | 6 | by Staff reporter
Zimbabwean banks in strong position to fund economy
Fundamentals in the financial services sector have improved over the past few years, with the sector poised to bankroll local economic activity, the central bank has said.Bank failures that pl...Published: 09 May 2021 at 08:01hrs | | by Staff reporter
Demand for rand disbursements spurs Access Forex
MONEY transfer services firm, Access Forex, says it has positioned itself to expand business in response to overwhelming demand for rand cash disbursements mainly in Matabeleland provinces and parts o...Published: 06 Apr 2021 at 15:41hrs | 1 | by Staff reporter
Mnangagwa's govt pleads with teachers
GOVERNMENT yesterday said it was committed to ensuring better conditions of service for teachers after they pled incapacitation and demanded that their salaries be restored to the 2018 US$520 to US$55...Published: 30 Mar 2021 at 06:47hrs | 9 | by Staff reporter
Zimbabwe makes another U-turn on mines
GOVERNMENT on Tuesday reverted to Zimbabwe dollar-denominated mining fees, only a week after Mines minister Winston Chitando made wide-ranging reviews based in United States dollars.Chitando's...Published: 24 Feb 2021 at 21:46hrs | 5 | by Staff reporter
Mnangagwa orders US-dollar payment on foreign currency pensions
PRESIDENT Emmerson Mnangagwa Friday ordered US dollar pension pay-outs on all investments under which workers injected foreign currency.This comes after thousands of Zimbabwean workers were be...Published: 28 Nov 2020 at 07:08hrs | | by Staff reporter
Zimbabweans mend shabby dollar notes amid economic crisis
Albert Marombe takes a grimy, tattered US$1 note and delicately, expertly glues it back into one piece, holding it up for inspection."I don't care how torn it is. All I want to see is the seri...Published: 25 Nov 2020 at 06:20hrs | | by AP
'We need more Zimdollar than US$'
UNITED Refineries Limited (URL) chief executive officer, Mr Busisa Moyo says the Bulawayo headquartered agro-processing company needs more of the local dollar to localise production of key raw materia...Published: 30 Oct 2020 at 06:19hrs | 7 | by Staff reporter
'Mnangagwa's economy has turned workers into slaves'
THE Zimbabwe Congress of Trade Unions (ZCTU) western region chairman Ambrose Sibindi has lamented the escalating level of poverty among workers caused by the continuous erosion of their salaries....Published: 27 Aug 2019 at 07:45hrs | | by Staff reporter
IMF welcomes Mthuli Ncube's monetary reforms
The International Monetary Fund (IMF) says the latest reforms announced by both the Ministry of Finance and Economic Development through SI 142 of 2019 and the Reserve Bank of Zimbabwe through exchang...Published: 05 Jul 2019 at 07:49hrs | | by Staff reporter
Mthuli Ncube's quotes on currency reforms . . .
"Replacing the multi-currency regime anchored in the United States dollar by the South African rand as the sole transaction currency would help reduce over-valuation and stimulate exports and growth. ...Published: 01 Jul 2019 at 08:13hrs | 1 | by Lisa Tazviinga
Major forex scam hits Nedbank Zimbabwe
A massive scandal has rocked Nedbank Zimbabwe - a local unit of one of South Africa's largest financial services groups - after 28 employees were nabbed by police for allegedly swindling the financial...Published: 07 Apr 2019 at 08:26hrs | 9 | by Staff reporter
Mnangagwa running out of options - and time
ZIMBABWE'S political chaos is a function of its economic crisis – and the economy is only getting worse. To all intents and purposes, Zimbabwe is broke.The government has so little income that i...Published: 25 Jan 2019 at 08:40hrs | | by Simon Allison
Mnangagwa urged to hike public sector salaries
A Zimbabwean businessman has urged government to raise wages in a bid to prevent the meagre income of public sector workers becoming a source of anger for citizens.In a letter to President Emm...Published: 14 Jan 2019 at 14:56hrs | | by Staff reporter
Why Mnangagwa doesn't have the answers
When President Emmerson Mnangagwa campaigned in July for Zimbabwe's...Published: 22 Oct 2018 at 07:19hrs | | by Robert Rotberg, Harvard University
Zimbabwe economy continues to shrink
ZIMBABWE's economy has continued to shrink, leading to growing unemployment and significant underemployment, an international research body has said.A recent Business Monitor International (BM...Published: 01 Aug 2017 at 07:08hrs | | by Staff reporter
Diamond mogul speaks on how US sanctions hurt Zimbabwe diamonds
THIS week the Zimbabwe Independent - which in December last year began publishing fresh stories based on new and original material into the Chiadzwa alluvial diamonds discovery and subsequent plunderi...Published: 14 Mar 2017 at 13:17hrs | 8 | by Staff reporter
Pensioners suffer massive prejudice
THE Government-appointed Commission of Inquiry probing the conversion process of pension and insurance benefits after dollarisation in 2009 has wound up its work and will have a comprehensive repo...Published: 29 Jan 2017 at 09:24hrs | | by Staff reporter
Prophet Chiza hands down 25 prophecies
Bulawayo based prophet and founder and leader of Eagle Life Assembly Church Blessing Chiza has said God handed him a massive 25 prophecies which include a rise in sex workers in the next t...Published: 08 Jan 2017 at 05:31hrs | | by Staff Reporter
Reasons NOT to trust Mugabe's central bank chief
Long queues outside ATMs. Security guards confirming that those machines that are already empty "won't be stocked until Monday." News24 gives us 5 reasons NOT to trust Mugabe's central bank chief on b...Published: 27 Nov 2016 at 15:42hrs | | by Staff reporter
New building society to spur construction
THE launch of the National Building Society, wholly owned by statutory body the National Social Security Authority, is widely expected to provide relief to a construction industry that has been seriou...Published: 22 May 2016 at 10:49hrs | 6 | by Staff Reporter
Withdraw all cash in banks, informal sector told
Zimbabweans have been urged to immediatly withdraw all their cash in banks. Zimbabwe Informal Sector's Organization Director Promise Mkwanazi made the call to all those in t...Published: 12 May 2016 at 13:31hrs | | by Staff Reporter
Victoria Falls hotel occupancy up
AVERAGE hotel occupancies in the tourists' favourite Victoria Falls shot to 100 percent during the festive season, up from 80 percent.However, arrivals from key regional source markets, South ...Published: 03 Jan 2016 at 09:51hrs | | by Staff reporter
Zimbabwe banks ready to issue out new US dollar bills
Zimbabwe Banks are ready to issue out new US dollar bills to replace old, dirty and defaced notes in circulation if the public and corporates deposit the money, the Bankers Association of Zimbabwe has...Published: 13 Jul 2011 at 00:29hrs | | by Ndou Paul
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