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State firms owe Zimra US$450m

Official reports have exposed swelling defaults in a broad range of taxes due to government by 15 State firms, including the troubled ZBC and NRZ. The 15 firms accounted for nearly half a ...Read more

State firms owe Zimra US$450m

02 July 2015 | 2176 Views
Official reports have exposed swelling defaults in a broad range of taxes due to government by 15 State firms, including the troubled ZBC and NRZ. The 15 firms accounted for nearly half a ...

by Staff reporter

Exiting dollarisation won't be easy for Zimbabwe, says UN official

30 June 2015 | 5685 Views
A United Nations Development Programme senior economic advisor in Zimbabwe Amarakoon Bandara says no country has ever been able to reintroduce its domestic currency in the history of dollarisatio...

by Staff reporter

7000 workers lose jobs in 2014

29 June 2015 | 3628 Views
A total of 7 000 employees in Zimbabwe lost their jobs through retrenchments in 2014 as the country's economy continues to weaken.fin24 reported that according to figures from the National Soc...

by Staff Reporter

Zimbabwe targets 50 tonnes of gold

22 June 2015 | 4369 Views
Minister of Finance Patrick Chinamasa told junior parliamentarians that the government was implementing measures to increase gold production in the country. Chinamasa noted that government...

by Staff reporter

'Surrender of Zimdollars instils confidence in sickly economy'

19 June 2015 | 7488 Views
CASH-STRAPPED citizens have started trooping to banks to surrender the old Zimbabwe dollar rendered useless at the adoption of the multiple currency regime in February 2009, a development analysts say...

by Sij Ncube

Thamsanqa analysing the World Economic Forum - Video

16 June 2015 | 6538 Views
Charles Aniagolu asks what the World Economic Forum will do for private sector investment in Africa with journalist, Thamsanqa Zhou.https://www.youtube.com/watch?v=J72h0wi1uashttp...

by Youtube

Zimbabwe annualised inflation ease, says ZimStat

15 June 2015 | 4608 Views
Zimbabwe's annual inflation for the month of May shed 0.05 percentage points to -2.70 percent from -2.65 percent recorded in April 2015, ZimStat has said.On a monthly basis, inflation stoo...

by Thobekile Zhou

Zimdollars worth more on eBay

12 June 2015 | 7596 Views
On online auction site eBay, a 100 trillion Zimbabwean dollar note is a collector's item fetching up to $35, a small fortune compared with the 40 US cents on offer from the central bank as it seeks to...

by Reuters

World Bank aims to make Zimbabwe more investor-friendly

12 June 2015 | 4605 Views
The World Bank's International Finance Corporation (IFC) said it is assisting Zimbabwe with regularising and improving its operating environment to attract investors and pave the way for potential...

by Staff reporter

AfDB ranks ZSE worst performer in African region

12 June 2015 | 3643 Views
Zimbabwe's stock market was ranked the worst performer in the African region for the month of March 2015 as lack of investor confidence took a toll on trade, the latest African Development Bank (A...

by Staff reporter

Worthless Zimdollar officially phased out

11 June 2015 | 10502 Views
The Zimbabwean dollar will officially be taken out of circulation, officials said Thursday, six years after hyper-inflation rendered it worthless and US dollars became the most widely-used currency....

by AFP

Zimbabwe raw sugar prices drop 8%

09 June 2015 | 4124 Views
The producer price for raw sugar in Zimbabwe this year has decreased by eight percent to $517 per tonne from last year's closing price, an official has said.At the end of the last marketing se...

by Staff reporter

Manufacturing sector capacity utilisation reaches 39%

09 June 2015 | 3716 Views
The manufacturing sector has recorded a 1,9 percentage increase in capacity utilisation to 39% driven by activities in the beverages and construction sectors, the Confederation of Zimbabwe Indust...

by Staff reporter

Zimbabwe to experience power outages of up to 16 hours a day

29 May 2015 | 4039 Views
ZIMBABWE will experience power outages for up to 16 hours a day during the winter season after demand for electricity rose to 1, 800 megawatts (MW) against current output of 1,300MW, the power uti...

by Staff reporter

VAT makes Zimbabwe expensive

27 May 2015 | 3063 Views
Zimbabwe's tourism products already cost 35 percent more than similar offerings from the region and Value Added Tax on accommodation for non-residents will worsen its profile as an expensive desti...

by Staff reporter

Zimbabwe to exit deflation in 2016

27 May 2015 | 3315 Views
Zimbabwe should move into positive inflation in 2016, with regional economists projecting an annual inflation rate of 1,5 percent by the end of 2016. The African Development Bank also estimate...

by Tawanda Musarurwa

Zimbabwe records 3.2% economic growth

26 May 2015 | 3057 Views
The African Economic Outlook 2015 said Zimbabwe's economy is set to record marginal increases in gross domestic product (GDP) this year and in 2016 on the back of a planned investment in infrastru...

by Staff reporter

Zimbabwe to rope in Chinese in SEZs infrastructure development

20 May 2015 | 3330 Views
The Government says it would like to see Chinese developers becoming heavily involved in the development of infrastructure for Special Economic Zones (SEZs) that will be set up across the country....

by Tawanda Musarurwa

'Overvalued' world markets spark interest in cheap Zimbabwe

20 May 2015 | 4372 Views
As investment managers are under pressure to find value opportunities in a reportedly overvalued global equity environment, the annual Imara Zimbabwe Investor conference will showcase the potentia...

by Staff reporter

Zimbabwe targets $1,5 billion from tourism

18 May 2015 | 2486 Views
Zimbabwe is targeting to earn $1,5 billion from the tourism sector this year, an official said on Friday.Zimbabwe Tourism Authority (ZTA) chief executive Mr Karikoga Kaseke said the country wh...

by New Ziana

Zimbabwe's pay gap above 4,000%

14 May 2015 | 4507 Views
The wage gap between Zimbabwe's highest and the lowest paid employees is slightly above 4 000%, a survey has shown.According to a survey conducted by one of Zimbabwe's leading employment consu...

by Staff reporter

Dollarisation the new normal for Zimbabwe, says RBZ

11 May 2015 | 5532 Views
Reserve Bank of Zimbabwe Governor John Mangudya says the lack of competitiveness and negative perception besetting the economy were not a currency problem, but a production phenomenon. The...

by Staff reporter

Sanctions bite IDC subsidiaries

05 May 2015 | 1283 Views
Industrial Development Corporation subsidiaries Zimbabwe Phosphates and the Zimbabwe Fertiliser Company have had over $3,5 million intercepted because of the US sanctions imposed on the country....

by Staff reporter

RBZ boss calls for an immediate further reduction in prices

25 April 2015 | 3144 Views
Reserve Bank of Zimbabwe Governor Dr John Mangudya has called for an immediate further reduction in prices of locally-produced goods if the country is to stem the influx of cheap imports and the liqui...

by Farirai Machivenyika

Zimra misses revenue targets

24 April 2015 | 4994 Views
The Zimbabwe Revenue Authority missed its first quarter revenue collection targets by 6 percent as poor economic conditions continue to affect inflows to the fiscus.Net collections amounted to...

by Staff reporter

South Africa makes billions from Zimbabwe

21 April 2015 | 8918 Views
South Africa could be the region's dominant economy but the untold story is that the country makes billions of dollars from the Zimbabwean market.Implats, Tongaat-Hulett, Multi-Choice, Old Mu...

by Staff reporter

RBZ re-orients exchange control

14 April 2015 | 2547 Views
The Reserve Bank of Zimbabwe has started re-orienting its exchange control department to become a body that facilitates a favourable doing business environment which can attract foreign direct investm...

by Staff reporter

Zimbabwe's unemployment level up 11.3%?

13 April 2015 | 1791 Views
Zimbabwe's unemployment level has risen to 11,3 percent with the majority of people moving into the informal sector particularly agriculture, the Zimbabwe National Statistics agency (Zimstat) has said...

by Staff reporter

Bond coins benefiting from slipping Rand

12 April 2015 | 3597 Views
The uptake of bond coins in Zimbabwe has improved in the past few weeks due to a positive consumer perception over their value against the United States dollar.South Africa's slipping rand has...

by Staff reporter

Zimra extends tax amnesty to June 30

10 April 2015 | 2675 Views
The Zimbabwe Revenue Authority (Zimra) has extended the Tax Amnesty window to the June 30, after the initial window expired last month, Director of finance, corporate planning and modernization, Rober...

by Staff reporter

Zimbabwe open for business, Mugabe tells SA

09 April 2015 | 4864 Views
President Robert Mugabe assured South African investors that they would not have their assets seized by his government in a nationalisation drive."I wish to assure all of you that Zimbabwe...

by ANA

50 cent bond coins to be introduced next week

24 March 2015 | 3319 Views
The Reserve Bank of Zimbabwe (RBZ) is set to avail a 50 cent bond coins next week to complement the already smaller units.Late last year, the RBZ injected minted coins imported from South Afri...

by Thobekile Zhou

Big wigs suck Zimbabwe banks dry

22 March 2015 | 3973 Views
The majority of banks that folded over the past five months choked on souring loans extended to top executives and serial debtors, The Sunday Mail reported.AfrAsia is the latest victim of toxi...

by Staff Reporter

'Zimbabweans prefer foreign investment instead of indigenisation'

19 March 2015 | 1748 Views
Zimbabweans prefer foreign direct investment (FDI) to indigenisation for employment creation, a new survey by the Mass Public Opinion Institute (MPOI) has revealed. According to the survey, an...

by Staff reporter

Zimbabwe among most unattractive mining destinations

11 March 2015 | 4777 Views
Zimbabwe according to a latest Canadian think tank Fraser Institute ranks Zimbabwe among the most unattractive mining destinations with the country lagging behind the DRC, Mozambique and South Afr...

by Staff reporter

Zimbabwe crafts debt repayment plan

09 March 2015 | 2599 Views
Zimbabwe urgently needs to come up with a solid debt repayment strategy to settle ballooning debts to international creditors.Finance Minister Patrick Chinamasa  is quoited by Daily News ...

by Thobekile Zhou

50c bond coins expected by end of March

05 March 2015 | 2365 Views
Reserve Bank of Zimbabwe (RBZ) Governor Dr John Mangudya has revealed that the country will receive $5 million worth of 50c coins by end of this month to complete the cycle of other denominations alre...

by Staff reporter

'No financial assistance until Zimbabwe clears arrears,' says IMF

04 March 2015 | 3118 Views
Zimbabwe cannot get a debt rescheduling which will enable it to start receiving financial assistance from international financial institutions until it has cleared arrears owed to the International Mo...

by Rumbidzayi Zinyuke

1 471 defaulters apply for Zimra tax amnesty

27 February 2015 | 3022 Views
1 471 defaulters have submitted tax amnesty applications to the Zimbabwe Revenue Authority (Zimra) to date, Zimra commissioner general Gershem Pasi has said.The tax amnesty commenced in Octobe...

by Funny Hudzerema

ZSE's integrity under spotlight

17 February 2015 | 1775 Views
The Zimbabwe Stock Exchange yesterday temporarily suspended trading of Meikles Africa shares over the way they accounted for the Reserve Bank of Zimbabwe debt, but failed to give the company formal co...

by Staff reporter

Zimbabwe relaxes foreign remittances controls

16 February 2015 | 5323 Views
The Reserve Bank of Zimbabwe (RBZ) is set to introduce relaxed controls on international remittances by April this year, as part of its measures to boost inflows and ease liquidity constraints....

by Staff reporter

Emirates Connects the World to the ICC Cricket World Cup 2015

16 February 2015 | 2070 Views
HARARE - Emirates Airline has launched a celebration of cricket with fans the world over, as the national teams from 14 countries commence their journey to compete for the glory and the title of worl...

by Staff Reporter

UK's private sector seeks investment in Zimbabwe

11 February 2015 | 2854 Views
A private investor delegation privately sponsored by Invest Africa arrives in Harare to seek investment opportunities.A United Kingdom (UK) Private Sector led International Investor Delegation...

by PRN Africa

RBZ Boss urges price cuts instead off wage increases

11 February 2015 | 3030 Views
Zimbabwe's central bank on Wednesday urged companies to reduce the prices of their products and services, saying salary hikes being called for by workers would "choke the economy"."I am convin...

by AFP

'Zimbabwe not experiencing deflation'

11 February 2015 | 2807 Views
Zimbabwe is not experiencing deflation but disinflation, with the sustained reduction in inflation due to price correction in the market, the Reserve Bank of Zimbabwe (RBZ) said Wednesday. RBZ...

by Cihan/Xinhua

RBZ to pay $5 for Zimdollar accounts

11 February 2015 | 5774 Views
The Reserve Bank of Zimbabwe will pay out $5 for every Zimbabwe Dollar account as compensation for account holders that lost their money in 2008 with the introduction of the multi-currency regime....

by Rumbidzayi Zinyuke

'Interbank market now operational,' says RBZ

11 February 2015 | 1968 Views
Local banks' ability to extend liquidity reprieve to each other has been enhanced following the full operationalisation of the interbank market.Besides ensuring stability of the financial sect...

by Tawanda Musarurwa

Reserve Bank of Zimbabwe unveils its monetary policy

11 February 2015 | 5006 Views
The Reserve Bank of Zimbabwe has unveiled a monetary policy 2015.Below is the full presentation. ...

by RBZ

Monetary policy review this week

10 February 2015 | 1995 Views
Reserve Bank of Zimbabwe governor John Mangudya will this week present the Monetary Policy Statement at a time his hands are tied with little room to manoeuvre as the economy continues to take a nosed...

by Staff reporter

Zimdollars accounts to be compensated

08 February 2015 | 6963 Views
THE Reserve Bank of Zimbabwe is coming up with a formula to calculate how Government can compensate individuals with Zimbabwe dollars locked in accounts after the country adopted the use of multi-curr...

by Gabriel Masvora and Ngonidzashe Chiutsi
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