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'Time to 'round down' prices,' says RBZ boss

The Reserve Bank of Zimbabwe (RBZ) has said local businesses must seriously consider revising their high cost business models and reduce their prices in line with economic fundamentals if they are...Read more

'Time to 'round down' prices,' says RBZ boss

27 January 2015 | 2392 Views
The Reserve Bank of Zimbabwe (RBZ) has said local businesses must seriously consider revising their high cost business models and reduce their prices in line with economic fundamentals if they are...

by Staff reporter

Second-hand car imports gobbled $469 million in 2014 alone

27 January 2015 | 1743 Views
Zimbabweans spent $469 million importing vehicles from different countries last year, at a time capacity utilisation for local car assemblers fell to a lowly five percent, with growing calls for t...

by Staff reporter

Zimbabwe to hold second local diamond auction in February

22 January 2015 | 1191 Views
Zimbabwe is set to hold its second local diamond auction at the beginning of next month in a move to maximize diamond revenue, a Ministry Of mines official has said.Permanent secretary of Mine...

by Funny Hudzerema

'Zimbabwe needs more entrepreneurs,' says Chinamasa

22 January 2015 | 2241 Views
The Zimbabwean economy is in desperate need of entrepreneurs who take the lead in securing foreign investment that will help their companies recover from the effects of the liquidity challenges faced...

by Rumbidzayi Zinyuke

Zimbabwean economy turns many to gambling

22 January 2015 | 2548 Views
THERE is nothing in Zimbabwe that spells a crisis more than a long winding queue. The zigzagging length of humanity has from time immemorial and recorded history - from the American great depression ...

by Tendai Makaripe

Gap between lending and saving rates in Zimbabwe remains ridiculously high

20 January 2015 | 1839 Views
The gap between lending and deposit rates in Zimbabwe remains high despite showing a decline in the week ending 9 January 2015, official figures from the Reserve Bank of Zimbabwe (RBZ) show....

by Staff reporter

'Zimbabwe ready to engage international investors'

18 January 2015 | 3871 Views
GOVERNMENT is willing and ready to engage investors and international partners to drive the economic development agenda of the country, a Ministry of Finance and Economic Development official has said...

by Staff reporter

Zimbabwe misses gold target

16 January 2015 | 1238 Views
Zimbabwe has marginally missed gold output for 2014 after deliveries reached 13,9 tonnes in the year to December against a target of 14,5 tonnes, latest data shows. Statistics from the Fidelit...

by Staff reporter

Zimbabwe inflation falls to -0.80%

15 January 2015 | 2308 Views
Zimbabwe's consumer prices fell to 80 basis points or 0.8% in December on a year-on-year basis compared to a 78 basis points or 0.78% decline in November, the statistical agency Zimstats said on Thur...

by Reuters

Chinamasa increases duty on fuel

15 January 2015 | 3841 Views
Government has increased duty on fuel as means of raising revenue against the backdrop of a thinning tax base. Finance Minister Patrick Chinamasa yesterday gazetted the increase with...

by Staff reporter

Allan Gray positive on Zimbabwean equities

15 January 2015 | 1513 Views
A SLUMP in Zimbabwean equities to near two-year lows is emboldening one of the largest money managers in South Africa to keep looking beyond the nation's economic woes for returns.Allan Gray, ...

by Neo Khanyile I Bloomberg

Zimbabwe loses $2,6 billion in trade mis-invoicing

09 January 2015 | 1823 Views
Zimbabwe's current trade imbalance may be attributed to trade mis-invoicing, which has prejudiced the country of $2,6 billion through illicit financial outflows between 2003 and 2012, a new report sho...

by Tawanda Musarurwa

Zimbabwe in 'coins conundrum'

08 January 2015 | 6565 Views
Nobody wanted the Zimbabwe dollar, so the country dumped it for the US dollar in 2009 to stave off economic collapse and sky-rocketing hyperinflation.Now nobody wants the "bond coins" it put i...

by Reuters

Zimbabwe's minerals export earnings decline

07 January 2015 | 1044 Views
Zimbabwe's diamond export earnings for the month of November went down 58,4 percent in November to $6,6 million from $16 million in October, figures from Zimstats have shown.Unsorted diamonds ...

by Rumbidzayi Zinyuke

Zimbabwe's 2015 National Budget is nothing but hot air

05 January 2015 | 1016 Views
The 2015 National Budget presented late November is another clear indication that Zanu-PF government continues to run the country in a toxic and retrogressive manner. Sadly, for the people...

by Staff reporter

Teething problems for Bond coins

05 January 2015 | 3258 Views
Only US$2.5 million worth of bond coins out of the US$10 million set aside are presently circulating on the local market as banks under ordered them, an official has said. As a result, des...

by Staff reporter

Zim experiences increase in gold production

05 January 2015 | 1533 Views
ZIMBABWE has experienced increased gold production mainly driven by small-scale miners despite the fall in gold prices on the international market, a new Africa Development Bank (AfDB) report has said...

by Staff Reporter

Bond coins, signs Zim dollar might return

22 December 2014 | 6324 Views
POLICY and economic analyst Butler Tambo has said the introduction of bond coins by the Reserve Bank of Zimbabwe (RBZ) last Thursday was a sign that the Zimbabwe dollar might be brought back withi...

by Staff Reporter

Chinamasa clueless

20 December 2014 | 3952 Views
FINANCE Minister Patrick Chinamasa yesterday disclosed to Senate he had no idea how he was going to cut the wage bill gobbling 85% of the country's National Budget.His disclosure came as Senat...

by Staff Reporter

Zim licences Chinese company to print new currency, to be issued at a moment’s notice

19 December 2014 | 11101 Views
COLOGNE - President Robert Mugabe's administration, is reportedly sittings on wads of a new Zimbabwe currency to be backed by a gold standard, which can be issued at a moment's notice as a home grown...

by Itai Mushekwe

Retailers accept bond coins

19 December 2014 | 3536 Views
Retailers and other service providers have started accepting the just introduced bonded coins, demonstrating their confidence in the new coins regime which is set to ensure convenience to the tran...

by Staff reporter

World Bank pledges $44 million to help Zimbabwe

18 December 2014 | 2433 Views
The World Bank has pledged at least 44 million US dollars over the next five years to help Zimbabwe implement economic policy reforms.The new trust fund is a successor to the 2008 Analyti...

by Shingai Nyoka

Bond coins start circulating today

18 December 2014 | 2230 Views
Banks will today start circulating the Reserve Bank of Zimbabwe's imported bond coins, in a move expected to ease the problem of small change that has been bedevilling the economy since the advent...

by Staff reporter

Bond coins to face stiff resistance?

17 December 2014 | 2706 Views
Economists and informal traders have warned that new bond coins worth $10 million that are set to make their debut tomorrow might face stiff resistance from the public as there is lingering suspic...

by Staff reporter

Retailers to use RBZ Special Bond coins

16 December 2014 | 2045 Views
The Retailers Association of Zimbabwe says its members have accepted the special bond coins unveiled recently by the country's central bank designed to ease change problems faced by members of the pub...

by Gibbs Dube

Zim deflationary pressures persist in November

15 December 2014 | 1522 Views
Zimbabwe's inflation eased to -0.78% year-on-year in November, shedding 0.78% on the October rate of -0.001% as deflationary pressures persist, the official statistics agency Zimstats said on Monday....

by Staff reporter

Govt spending declines

15 December 2014 | 2146 Views
Government expenditure declined by a whopping 98% in September, a rare trend for a country with a well known propensity to overspend.According to the Consolidated Statement of Financial Perfor...

by Staff reporter

Diaspora remittances to Zimbabwe decline

15 December 2014 | 2378 Views
Diaspora remittances have fallen some 100 percent to $900 million this year despite an increase in registered money transfer agencies. Finance and Economic Development Minister Patrick Ch...

by Staff reporter

Zimbabwe's bonded coins stir up fears

09 December 2014 | 9430 Views
THE INTRODUCTION of bonded coins for sole use in Zimbabwe has sparked a wave of uncertainty.The coins have created fears among investors and the populace that the government is inching towards...

by Tawanda Karombo

Tight immigration laws hindering economic growth

07 December 2014 | 4252 Views
TIGHT immigration laws are costing the country opportunities of addressing high unemployment levels with reports that at least 600 jobs were lost when a South African investor was denied a permit ...

by Mesabe Ncube

New coins to help ease cash crunch

06 December 2014 | 2755 Views
Zimbabwe's central bank unveiled special coins on Friday to ease a shortage of low denomination cash, which has forced shoppers to accept sweets or pens in lieu of change."The bond coins a...

by AFP

Zim coins to start circulating December 18

06 December 2014 | 8579 Views
THE new Zimbabwe coins were yesterday unveiled by the central bank, but will only start circulating in the country on December 18.Reserve Bank of Zimbabwe governor John Mangudya said the count...

by Staff Reporter

Special coins unveiled in Zimbabwe

05 December 2014 | 7652 Views
Zimbabwe today unveiled a set of $10 million special "bond" coins.The coins, which arrived in the country this week from South Africa, are aimed at easing the change crisis.This comes ...

by Staff reporter

'Chinamasa's budget devoid of sound content,' says Makoni

01 December 2014 | 2273 Views
Former Finance minister Simba Makoni has described the 2015 national budget presented last Thursday as devoid of sound content.The opposition Mavambo/Kusile/Dawn leader said the ruling governm...

by Staff reporter

ZimAsset can not be funded in its current form, says Japanese envoy

30 November 2014 | 2447 Views
HARARE - Zimbabwe's economic blueprint, ZimAsset, cannot be funded in its current form and needs to be reviewed to make it practical, Japanese ambassador Yoshi "Tendai" Hiraishi says.In an int...

by Staff Reporter

Beer prices are slashed

30 November 2014 | 4604 Views
Finance minister Patrick Chinamasa has slashed exercise duty on clear beer from 45 percent to 40 percent with effect from next year, a move that is likely to further reduce the price of lager bee...

by Staff reporter

Zimbabwe suspends platinum export tax

28 November 2014 | 1945 Views
Government has suspended export tax on unbeneficiated platinum until January 1, 2017, Finance and Economic Development Minister Patrick Chinamasa said in the 2015 National Budget statement. ...

by Staff reporter

Chinamasa unveils $4.1 billion 2015 budget

27 November 2014 | 5524 Views
The Minister of Finance and Economic Development, Patrick Chinamasa has presented a $4.1 billion 2015 National Budget, amid indications that $3.32 billion will go towards employment costs.Chin...

by Staff reporter

$40 million coins to be delivered to Zimbabwe next week

26 November 2014 | 10569 Views
OVER $40 million worth of coins are expected to be delivered in the country next week to ease the shortage of change in the country.In an interview with NewsDay, yesterday Reserve Bank of...

by Staff reporter

'Motor vehicle duty must be reduced,' says Tariffs Commission

25 November 2014 | 11980 Views
GOVERNMENT has been recommended to halt any further increase in tariffs on duties on imported vehicles as the current tariffs of between 40% and 60% give the local assembly more than adequate protecti...

by Business reporter

Zim industry pushes total import ban

24 November 2014 | 2559 Views
Finance and Economic Development Minister Patrick Chinamasa made the most determined assault on imports when he unveiled a raft of tax measures to control the rising tide when he announced the MID...

by Staff reporter

Zim seeks re-engagement with IMF

24 November 2014 | 1802 Views
ZIMBABWE plans to host a second international debt resolution forum this month to resolve the country's over $9 billion total debt which has hamstrung the flow of lines of credit from multilateral fin...

by Staff Reporter

'Zimbabwe has investment potential,' says Minister Chinamasa

21 November 2014 | 3274 Views
Zimbabwe has investment  potential for South Africa, with a diversity of resources, Finance and Economic Development Minister Patrick Chinamasa said on Friday."We are not a basket ca...

by Sapa

Zimbabwe's economic recession will last for at least 15 years

21 November 2014 | 2293 Views
FORMER Finance minister Tendai Biti has warned Zimbabwe's economic recession will last for at least 15 years if urgent remedial steps are not taken.In an analysis of the economy to the Zimbabw...

by Staff reporter

Zimbabwe to impose duty on sugar imports

20 November 2014 | 2024 Views
ZIMBABWE will from January next year impose duty on all imported sugar to protect the local sugar industry negatively affected by a slump in sales.Imported sugar will attract a 10 percent impo...

by CAJ News

Deposit Protection Corporation CEO appointed IADI treasurer

20 November 2014 | 2312 Views
At the recently held 13th Annual Conference and General Meeting of the International Association of Deposit Insurers (IADI) that was held on the 23rd of October 2014, the Chief Executive Officer of ...

by Own correspondent

Zim economy at crossroads says IMF

09 November 2014 | 3524 Views
The Zimbabwe economy requires comprehensive reforms to sustain higher growth rates and poverty reduction, the International Monetary Fund (IMF) said on Friday."Zimbabwe's economy is at a cros...

by Staff Reporter

British trade mission says Zimbabwe a safe investment destination

31 October 2014 | 3397 Views
The British trade delegation that was in the country to explore business opportunities says it has had fruitful, frank and open discussions with various government officials and will carry a positive ...

by Staff reporter

'Harare diamond sale a boon for local diamond miners'

31 October 2014 | 2324 Views
About 140 diamond buyers are participating at the country’s biggest diamond sale which opened on Monday, giving local diamond miners a golden opportunity to sell their products locally.F...

by Business Reporter

Govt tightens screws on imports

31 October 2014 | 10423 Views
THE government has tightened screws on the importation of cement, cooking oil, milk products and soap among other products with effect from October 22.Individual travellers and traders are no...

by Thupeyo Muleya
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