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Bond coins gain popularity as Rand weakens

Some traders have stopped accepting the South African rand in favor of bond coins in Zimbabwe's multi-currency economy as the rand continues losing value against the U.S. dollar, according to a report...Read more

Bond coins gain popularity as Rand weakens

24 November 2015 | 2814 Views
Some traders have stopped accepting the South African rand in favor of bond coins in Zimbabwe's multi-currency economy as the rand continues losing value against the U.S. dollar, according to a report...

by Dana Sanchez I AFKInsider newsletter

Potraz to review licensing framework

06 November 2015 | 703 Views
The Postal and Telecommunications Regulatory Authority of Zimbabwe says the current service specific licensing framework is being reviewed because the obsolete regime stifles growth of the industr...

by Staff reporter

RBZ has enough bond coins: Mangudya

04 November 2015 | 2183 Views
Reserve Bank of Zimbabwe Governor John Mangudya says the central bank has enough bond coins to cater for increased demand due to the cross-rating of rand coins. This comes as the Passenger...

by Staff reporter

Zimbabwe produces 2,2 million diamond carats in 3 months

01 November 2015 | 2493 Views
The pre-budget seminar for parliamentarians entered its second day with government revealing that over 2,2 million carats of diamonds were produced by the end of the third quarter.3,36 million...

by Staff reporter

Zimra misses target

01 November 2015 | 1374 Views
The Zimbabwe Revenue Authority (ZIMRA) has missed its third quarter revenue target by about nine percent.ZIMRA had set a target to collect US$964 million in the third quarter but managed US$87...

by Staff reporter

7 500 Zimbabwean tax cheats hide millions

01 November 2015 | 2238 Views
At least 7 500 tax evaders have prejudiced Treasury of millions of dollars in unremitted dues since introduction of the multi-currency system in 2009.This emerged when the Zimbabwe Revenue Aut...

by Lincoln Towindo

Zimbabwe moves up 'Ease of Doing Business' rankings

29 October 2015 | 1249 Views
Zimbabwe is still to improve on the World Bank's Doing Business survey in spite of recording two positive reforms under the new calculated methodology.The World Bank report shows that Zimbabwe...

by Staff reporter

Zimbabwe urged to export goats

28 October 2015 | 3509 Views
Zimtrade has called on Zimbabwe to export goats as the global trade in the commodity has reached $372 million in seven years.Zimbabwe has not exported meat since the imposition of restrictions...

by Thobekile Zhou

Zimbabwe must pay its $10,4 billion debt to international lenders

25 October 2015 | 1609 Views
Zimbabwe must pay its US$10,4 billion dues to international lenders if it wants to access new money for economic growth from multilateral financial institutions, Reserve Bank of Zimbabwe governor Dr J...

by Staff reporter

Zimbabwe economy waiting for Mugabe to go

24 October 2015 | 4124 Views
Harare (dpa) - The broad avenues lined with lilac trees in the Zimbabwean capital Harare show no images of 91-year-old President Robert Mugabe, but his presence towers over the southern African countr...

by Sinikka Tarvainen, dpa

Mphoko want banks to cut interest rates to at least 10%

18 October 2015 | 4333 Views
The banking sector must reduce interests rates to at least 10 percent in order to remain relevant to the prevailing macro-economic environment, Vice President Phelekezela Mpoko has said.M...

by Staff reporter

Can Zim economy run through generators and solar panels?

16 October 2015 | 3579 Views
A Political analyst Bekezela Maduma Fuzwayo has questioned the government's ability to run the economy through generators and solar panels and slogans."I don't dispute that miracles do happen ...

by Stephen Jakes

Zimbabwe tax penalty punitive

16 October 2015 | 3260 Views
Although Zimbabwe's tax rates compare favourably with those in neighbouring countries, the country's penalty system has been condemned as excessively punitive.The Zimbabwe Revenue Authority (Z...

by Staff reporter

Zanu-PF factional battles bleed ZSE $2.5 billion

15 October 2015 | 2472 Views
Economic and political analysts have said the post-congress Zanu-PF's factional and succession wars were worsening the economic situation and putting a damper on the upside potential of the local ...

by Staff reporter

Zimbabwe gold output at 11-year high

14 October 2015 | 2421 Views
Gold output in Zimbabwe is expected to rise this year to 18.4 tons, the highest level in 11 years, thanks to higher production from small-scale miners, the mining chamber said on Wednesday.Gol...

by Reuters

World Bank to renew credit lines to Zimbabwe

12 October 2015 | 4055 Views
The International Monetary Fund (IMF) and the World Bank have pledged to renew credit lines to Zimbabwe after the approval of the country's debt repayment plan.In a statement after the approva...

by Staff reporter

Zim to clear arrears of $1.86bn to international creditors - Chinamasa

09 October 2015 | 3430 Views
Harare - Zimbabwe will clear arrears of $1.86bn to international creditors such as the International Monetary Fund by the end of next April, the finance minister said on Friday, a major step towards u...

by Staff Reporter

Zimbabwe debt clearance plan approved

09 October 2015 | 3175 Views
Zimbabwe's plans to clear $1,8 billion arrears to three preferred creditors was approved on Thursday on the sidelines of the International Monetary Fund (IMF)/...

by Staff reporter

Zimbabwe orders industry, mines to cut power use by 25%

07 October 2015 | 2291 Views
MAJOR mining companies and other huge electricity consumers will have to reduce consumption by up to 25 percent while security cantonments have been asked to load-shed non-critical areas as part of me...

by Farirai Machivenyika

Apathy hit 2016 budget meeting

06 October 2015 | 2114 Views
The second day of the 2016 National Budget consultations at Crowne Plaza hotel in  Harare has been hit by apathy with a mere 50 people said to be in attendance.The meetings are conducted ...

by Thobekile Zhou

Consumer basket decreases to $559

05 October 2015 | 1899 Views
The consumer basket for a family of six has marginally decreased by 0.34% to $559.11 due to minimal decline of prices of goods in the basket in September, consumer watchdog Consumer Council of Zim...

by Staff reporter

Netherlands seeks to market Zimbabwe gold

28 September 2015 | 1742 Views
Dutch special envoy natural resources, Dirk Jan Koch, said last week that the Netherlands was committed to help revive Zimbabwe's gold sector. "There is too much illicit gold leaving the c...

by Staff reporter

'Zimbabwe Stock Market back to 2010 levels'

27 September 2015 | 2198 Views
PERFORMANCE of the Zimbabwe Stock Exchange has been equated to the 2010 levels with some stocks trading at the same prices as five years ago as the bourse continues on a free fall. According to market...

by Roberta Katunga

Increased trade key to meeting 'landlocked' Africa's economic development goals

25 September 2015 | 2303 Views
Access to trade, particularly in landlocked countries such as Malawi, Zimbabwe and Zambia will remain a logistical challenge in the foreseeable future for both South African and global businesses, due...

by Shelley Aarons

'Zimbabwe has potential to attract huge investments'

24 September 2015 | 2875 Views
Zimbabwe has potential to attract huge investments inflows with the availability of mineral deposits coupled with an investment friendly legislative framework.This is the view of the Pan A...

by Staff Reporter

Chinese Export and Credit insurance team arrives in Zimbabwe

22 September 2015 | 2418 Views
A delegation from the China Export and Credit Insurance Corporation is in Zimbabwe to facilitate insurance cover on loan facilities extended to Zimbabwe's companies by Chinese banks.The delega...

by Staff Reporter

ZimTrade conference to tackle Zimbabwe export competitiveness

22 September 2015 | 2079 Views
ZimTrade, the country's national trade development and promotion organisation, will host its Annual Exporters' Conference and Exporter of the year Awards on 8 October 2015 at the Meikles Hotel in ...

by Dillon Kamutenga

Fall of the rand a sign of Zim economy recovery- Social commentator

21 September 2015 | 5619 Views
A social commentator, William Nyarayi Shoriwa has claimed that the fall of rand versus the US Dollar was a sign that Zimbabwe's economy was on a recovery path despite the fact that the US dollar is no...

by Stephen Jakes

'Critical shortage of engineers hits Zimbabwe'

21 September 2015 | 3407 Views
ZIMBABWE is facing a critical shortage of engineers, a development that can be addressed if mathematics and science subjects are taught from Grade Zero, the National Manpower Advisory Council (Namaco)...

by Leonard Ncube

Fuel price goes down

19 September 2015 | 3632 Views
Government has revised the country's fuel pricing model to place it on the same level with regional standards and halt gross overcharging of petroleum products by some unscrupulous dealers. Ac...

by Fidelis Munyoro

Zimbabwe to curb unnecessary imports

17 September 2015 | 2362 Views
THE government is working to curb unnecessary imports in measures that are expected to reduce the country's trade deficit that has since reached $4 billion. This was said by President Robert Mugabe wh...

by Nqobile Tshili

Zimbabwe inflation unchanged at -2.77%

16 September 2015 | 1964 Views
Latest data from the Zimbabwe National Statistics Agency shows that August inflation was at -2.77%, remaining the same as in the previous month when rounded to two decimal places.The Augus...

by Staff reporter

RBZ to resume public auctions

14 September 2015 | 1865 Views
The Reserve Bank of Zimbabwe will soon resume public auctions to raise funding required to finance key Government programmes and move away from private placements with investors. The centr...

by Staff reporter

Zimbabwe's competitiveness has dropped by 50%, says Mthuli Ncube

11 September 2015 | 2814 Views
Professor of Public Policy at Blavatnik School of Government, University of Oxford Mthuli Ncube told an IMF meeting in Harare that Zimbabwe's competitiveness has dropped by 50% due to the US dolla...

by Staff reporter

Zimbabwe meets IMF targets

09 September 2015 | 2729 Views
Zimbabwe has met all the quantitative targets under the International Monetary Fund (IMF) Staff Monitored Programme (SMP).An IMF delegation led by Mr Domenico Fannessa says Zimbabwe has manage...

by Staff Reporter

IMF lowers Zimbabwe's growth forecast to 1.5%

09 September 2015 | 1702 Views
The International Monetary Fund (IMF) on Wednesday lowered Zimbabwe's growth forecast for this year to 1.5 percent from 2.8 percent, blaming lower commodity exports."We expect a slowdown i...

by Reuters

Mid Term Fiscal Policy Review brought changes in rebate of duty on travelers - Zimra

06 September 2015 | 2488 Views
The Zimbabwe Revenue Authority (ZIMRA) is advising its valued clients that the 2015 Mid-Term Fiscal Policy Review has brought about changes to the rebate of duty on travellers' effects (traveller's re...

by Stephen Jakes

Italian investors expected in Zimbabwe

04 September 2015 | 3222 Views
Italian investors are expected in Zimbabwe by November this year to explore business opportunities in the food processing and energy sectors.Presenting a review of the Zimbabwe Day held on the...

by Staff Reporter

Economists slam Mugabe's wish-list

02 September 2015 | 2296 Views
Analysts have slammed President Robert Mugabe's latest 10-point plan to rescue the economy, saying it is nothing but a wish-list.The plan is likely to join a string of failed economic blueprin...

by Staff reporter

Zanu PF UK challenges Zim to be careful of its investment policies

02 September 2015 | 2426 Views
Zanu PF United Kingdom Chapter has warned Zimbabwe's authorities which include the Zanu PF government to be careful of its policies which do not entitle the foreign investors to their benefits tas muc...

by Stephen Jakes

Zimbabwe Credit bureau registers 2.3 million customers

01 September 2015 | 1325 Views
The country's largest credit reference bureau, Financial Clearing Bureau (FCB), says it had 2,3 million customers on its database at the end of the second quarter of the year. In a newslet...

by Staff reporter

Treasury to probe AG's findings

01 September 2015 | 2303 Views
THE Minister of Finance and Economic Development, Patrick Chinamasa, has said plans are underway to set up a team of inquiry on the findings released by the Auditor-General's Office last month which w...

by Staff Reporter

IMF rules out giving any financial assistance to Zimbabwe

26 August 2015 | 3275 Views
The International Monetary Fund (IMF), which is dispatching a mission to Harare next week, has ruled out giving any financial assistance to Zimbabwe until all external debts are settled.The IM...

by Staff Reporter

Govt to provide modalities for exporting chrome

26 August 2015 | 958 Views
Deputy Mines and Mining Development Minister Fred Moyo says government is working on a Statutory Instrument that will provide legal modalities for exporting chrome ore. Once it is in place...

by Staff reporter

'Waive duty on liquid petroleum gas'

26 August 2015 | 1017 Views
The newly formed Zimbabwe Indigenous Gas Dealers Association (ZIDGA) has appealed to Government to waive duty on liquid petroleum gas to promote its usage as an alternative source of energy. ...

by Staff reporter

CZI identifies strategies to help ailing economy

25 August 2015 | 2340 Views
Confederation of Zimbabwe Industries (CZI) has identified seven strategies that include consistent policies and competitiveness to help resuscitate Zimbabwe's ailing economy. Other strateg...

by Staff reporter

Bimha to head delegation to ZTIF London

25 August 2015 | 2299 Views
Industry and Commerce minister Mike Bimha will head a high-powered delegation to the Zimbabwe Trade and Investment Forum (ZTIF) in London next month as the country steps up efforts to lure foreign...

by Staff reporter

Zimbabwe in port construction talks with Mozambique

21 August 2015 | 4547 Views
Government is engaging potential developers of a multi-billion-dollar project which will link Zimbabwe to a port north of Beira in Mozambique in a bid to significantly reduce distance and cost of ...

by Staff reporter

Zimbabwe pays interest on $355m China Exim Bank loan

21 August 2015 | 3147 Views
Zimbabwe has made several interest payments to the China Exim Bank for a US$355 million loan extended to the southern African nation to finance expansion of its Kariba South Power Station, an offi...

by Staff reporter

AfDB bails out Zimbabwe

19 August 2015 | 2102 Views
Zimbabwe's bid to join the African Trade Insurance Agency (ATI) has received a major boost after the African Development Bank (AfDB) chipped in with $4 million of the money required to get registr...

by Staff reporter

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