Breaking News

Banks hike withdrawing fees by 50%

Banks will increase cash withdrawal charges under the Zimswitch platform by 50% from the current $2, starting from October - in a development likely to draw the ire of depositors.Depositors h...Read more

Banks hike withdrawing fees by 50%

22 September 2014 | 3616 Views
Banks will increase cash withdrawal charges under the Zimswitch platform by 50% from the current $2, starting from October - in a development likely to draw the ire of depositors.Depositors h...

by Staff reporter

RBZ mulls electronic payments regulation

22 September 2014 | 825 Views
RBZ plans to introduce regulations that govern electronic transactions following the proliferation of technology based payment platforms. RBZ Financial markets division deputy director Wil...

by Staff reporter

'Tendai Biti misfires on Kariba'

22 September 2014 | 3955 Views
The state media reports that adjustment made to the cost of constructing Kariba South hydro-electric power project from USD $355 million to USD $533 million reflects the full cost of the project m...

by Freeman Razemba

Prices of local products rising

19 September 2014 | 2576 Views
Prices of locally produced goods are seen rising as manufacturers pass the cost for excise duty on fuel to consumers, analysts have warned. MMC Capital says in its weekly market report it ...

by Staff reporter

Air Zimbabwe's woes mount

19 September 2014 | 1472 Views
The Supreme Court judgment allowing a former Air Zimbabwe manager, Dr Stephen Nhuta, to attach 29 vehicles to recover his dues has opened floodgates for the airline with more workers who had been hold...

by Daniel Nemukuyu

Emirates offers up to 25% discount to Zimbabwe travellers

18 September 2014 | 3826 Views
HARARE - Emirates, which flies daily from Harare to Dubai via Lusaka, is offering travellers from Zimbabwe up to 20 percent discount on Economy Class and 25 percent discount Business Class fares ...

by Matthews Estell

Steady growth for Zimbabwean economy

18 September 2014 | 2782 Views
The Zimbabwean economy has maintained steady growth, slightly improving this year compared to last year's ranking, according to the latest World Economic Forum Global Competitiveness Report for 20...

by Staff Reporter

Delays in reviving New Zim-Steel explained

18 September 2014 | 2156 Views
The Government and an Indian conglomerate, Essar Holdings, signed a US$750 million deal to revive New Zim-Steel, formerly Ziscosteel, in Redcliff, in 2011 but due to outstanding issues over the th...

by Staff Reporter

'Zimbabwe economy could collapse on Zimdollar reintroduction'

17 September 2014 | 2637 Views
ZIMBABWE'S economy risks collapsing if the country prematurely re-introduces the local currency, Finance Minister Patrick Chinamasa has said.The country adopted a basket of multi-currencie...

by Staff reporter

Subscribers cry foul over NetOne blackout

17 September 2014 | 2768 Views
Tonnes of farm produce is reportedly going to bad in Nyamandlovu with farmers failing to get in touch with their customers after NetOne has gone three days without service.The farms in the...

by Moyo Roy

IMF delegation jets into Zimbabwe

17 September 2014 | 1420 Views
An International Monetary Fund (IMF) delegation has arrived in Zimbabwe for a two week review of economic policies.The IMF team will hold meetings with government ministries, the Reserve Bank ...

by Staff reporter

Zimbabwe targets 1 million platinum ounces a year

17 September 2014 | 717 Views
The Zimbabwean government is targeting to reach 1 million ounces of platinum in the next few years as four concessions of platinum are expected to be operational in the next five years.The tar...

by Staff reporter

Delta Beverages slashes beer prices

17 September 2014 | 3239 Views
Delta Beverages has slashed beer prices across the whole portfolio except for the pint.  Delta Beverages management advises that the quart comes down from a recommended retail price of $...

by Staff reporter

'NRZ is the backbone of Bulawayo industry'

17 September 2014 | 2255 Views
THE rejuvenation of the National Railways of Zimbabwe (NRZ) will open floodgates Bulawayo business, Transport and Infrastructural Development Minister Obert Mpofu and his Industry and Commerce co...

by Hangoyapalala waTjibundule

Telecel re-introduces voice promo

17 September 2014 | 1204 Views
Telecel has announced the long - awaited return of the popular Mega Juice promotion which gives 100%  Telecel - to - Telecel call bonus to subscribers whenever they load a $1 or more worth of air...

by Staff reporter

Calls for Stanbic boycott

17 September 2014 | 1617 Views
The Zimbabwe Banks and Allied Workers Union has called for a boycott of Stanbic Bank as it presses ahead with its protracted collective job action against the bank over salaries and benefits dispute....

by Staff reporter

AfrAsia Bank runs out of money

17 September 2014 | 1385 Views
AfrAsia Bank depositors yesterday complained bitterly that they failed to access cash from the bank. While AfrAsia was recently limiting withdrawal due to solvency challenges, matters came to ...

by Staff reporter

Mugabe seals and signs $3 billion platinum deal with Russia

16 September 2014 | 3021 Views
Russia and Zimbabwe signed Tuesday a $3bn deal to jointly mine platinum in the southern African country, the world's third largest producer, with Moscow providing the investment funds.The ...

by AFP

Goldstar Sugars Harare plant reopens

15 September 2014 | 2205 Views
White Goldstar sugar from the Goldstar Sugars Harare plant is expected to be released onto the market this week, following the upgrading of the plant, which began in August last year. Pub...

by Staff Reporter

Russian company prospecting for Zimbabwe diamonds

15 September 2014 | 1545 Views
Diamond mining company Alrosa is partnering a Zimbabwe-Russia joint venture company to prospect for diamonds in the southern African country, Russia's trade and industry minister said on Monday....

by Reuters

Zimbabwe, Russia sign mining equipment agreement

15 September 2014 | 1338 Views
Zimbabwe and Russia have signed a Memorandum of Understanding for the supply of mining equipment to the Southern African country.The signing took place during the Ministerial Segment of th...

by Staff reporter

Delta, Dairibord fight over advertising

14 September 2014 | 2659 Views
An advertising war has erupted between two of the country's leading beverage manufacturers, Delta Beverages and Dairibord Holdings.Delta Beverages recently erected a billboard along Rekai ...

by Staff reporter

ZFTU criticises fiscal policy review

13 September 2014 | 1689 Views
A labour representative body has called on the government to extensively consult before making key national decisions.Commenting on the recently announced Mid-Term Fiscal Policy Review stateme...

by Staff Reporter

Emirates to Launch Second Service to Dar es Salaam

12 September 2014 | 1180 Views
HARARE - Emirates, which flies daily from Harare to Lusaka and Dubai, will be able to connect even more people and cargo with Dar es Salaam in Tanzania, with the start of a second service from D...

by Staff Reporter

Econet to partner Zimbabwe govt to improve economy

12 September 2014 | 3672 Views
Econet Zimbabwe is prepared to work with Government in stimulating economic revival through spearheading investments that develops infrastructure and creation of jobs. The company express...

by Staff reporter

Zimbabwe's external debt to hit $7.2 billion

12 September 2014 | 732 Views
Zimbabwe's external debt will hit $7, 2 billion by December this year, according to government projections. Chinamasa said in the midterm fiscal policy debt distress has continued to undermine...

by Staff reporter

Chinese insurer coming to Zimbabwe

12 September 2014 | 1630 Views
Officials from the Chinese export credit insurance agency, China Export and Credit Insurance Corporation (Sinosure) are expected in the country next week to finalise negotiations for lending to th...

by Staff reporter

Govt to offload $1,3 billion RBZ debt on taxpayers

12 September 2014 | 1444 Views
The government is working on modalities to make taxpayers fund the $1,35 billion debt raked up by the Reserve Bank of Zimbabwe during the hyper inflationary period of the Zim dollar era.Ev...

by Staff Reporter

Zimbabwe introduces 5% duty on airtime, 25% duty on mobile phone handsets

11 September 2014 | 7567 Views
Finance Minister Patrick Chinamasa has said that he will levy excise duty of 5% on air time for voice and data with effect from September 15. Chinamsa said customs duty at 25% on mobile hands...

by Staff reporter

Bulawayo closed for business

11 September 2014 | 6826 Views
SIXTY percent of companies operating in Bulawayo have been placed under judicial management, indicative of the dire state of affairs in the country's second largest city. Once Zimbabwe's indus...

by Ray Ndlovu

Zimbabwe pays almost R2 billion to service Chinese loans

10 September 2014 | 2647 Views
Zimbabwe has spent $180m (about R2bn) in unbudgeted expenditure to service outstanding loans from China in an effort to improve relations and encourage new financial support, Finance Minister Patrick ...

by Reuters

Fears that AMH will create a media monopoly in Zimbabwe

10 September 2014 | 2561 Views
There are fears that the newspaper group, Alpha Media Holding will morph into a media monopoly if given a chance to venture into radioAMH chairman Trevor Ncube yesterday worked hard to dispell...

by Staff reporter

Bimha to officially open 2014 ZimTrade Exporters' Conference

10 September 2014 | 794 Views
The Minister of Industry and Commerce, Honourable Mike Bimha, will officially open the Exporters' Conference scheduled for the 2nd of October 2014, at Meikles Hotel in Harare.The Conferenc...

by Dillon Kamutenga

RBZ takes ex-RBZ Governor's company to court

10 September 2014 | 2494 Views
The Reserve Bank of Zimbabwe is embroiled in a legal battle with the firm of its former governor Dr Kombo Moyana over the sale of a block of flats in Avondale, Harare, seven years ago.The cent...

by Fidelis Munyoro

Clothing Indaba set for Bulawayo on 26 September 2014

09 September 2014 | 1627 Views
Zimbabwe Clothing Manufacturers Association (ZCMA) will be hosting their 5th Clothing Indaba in Bulawayo on the 26th of September 2014.These events have become well known for their proactive w...

by ZCMA

Econet launches Buddie Beats platform for ringtones

08 September 2014 | 1594 Views
Econet Wireless has partnered with Bozza, an African music, video and poetry content system, to enable customers to access more songs for use as caller ringback tones, ITWeb reported. Bozz...

by Staff reporter

Zimbabwe's economic competitiveness tumbles

08 September 2014 | 1128 Views
The country needs to move mountains to ensure that the local economy is globally competitive if the report released last week by World Economic Forum (WEF), which saw Zimbabwe's ranking dropping t...

by Staff reporter

Chinamasa clueless on industries revival

08 September 2014 | 1617 Views
Finance minister Patrick Chinamasa has revealed he is clueless on how to bring life to ailing Bulawayo industries having discovered that there is absolutely nothing remaining of what used to be an...

by Staff reporter

Choppies to open four more supermarkets

07 September 2014 | 2696 Views
BOTSWANA Stock Exchange-listed retail chain - Choppies - is set to continue expanding its foothold in Zimbabwe, with four more supermarkets set to be opened in Bulawayo and Harare before the end of th...

by Roberta Katunga

NRZ workers demand resignation of managers - Photos

06 September 2014 | 3352 Views
Scores of National Railways of Zimbabwe (NRZ) workers took to the streets countrywide today demanding the resignation of their managers.The workers are owed more than $55 million in back ...

by Mafu Sithabile

Workers demand resignation of NRZ managers

06 September 2014 | 2244 Views
Scores of National Railways of Zimbabwe (NRZ) workers took to the streets countrywide today demanding the resignation of their managers.The workers are owed more than $55 million in back p...

by Mafu Sithabile

China to help Zimbabwe build economic zones

05 September 2014 | 3113 Views
Harare - China will help Zimbabwe build special economic zones and industrial parks to jump-start exports and a struggling economy, its ambassador to Harare said on Thursday as a Chinese firm starte...

by Staff Reporter

Zimbabwe toughens import measures

04 September 2014 | 5978 Views
Zimbabwe has widened the number of goods that require import licences for import into the country as government moves to protect local industry following an insurmountable proliferation of imports fr...

by Staff reporter

Air Zim requires $368 million for recapitalisation

03 September 2014 | 1033 Views
AIR Zimbabwe requires close to $368 million to recapitalise its operations and clear debts, among others, a company official has said.Of that amount, $331,97 million would go towards aircraft...

by Staff Reporter

Telecel partners with Mukuru.com

03 September 2014 | 2050 Views
The country's second largest mobile phone company, Telecel has partnered with Mukuru.com to enable its mobile money transfer platform clients to instantly receive money, from South Africa, directly in...

by Staff Reporter

'Zimdollar return suicidal,' says RBZ boss

29 August 2014 | 4772 Views
Government should not reintroduce the Zimbabwe dollar as this amounts to economic suicide, central bank boss John Mangudya warned.In his maiden mid-term monetary policy statement presentation ...

by Taurai Mangudhla

RBZ rules out return of Zimdollar

27 August 2014 | 3564 Views
Zimbabwe will continue using multiple foreign currencies for the foreseeable future until production levels have increased, the central bank has said.This comes as various stakeholders in the ...

by Staff reporter

KFC to open more branches in Zimbabwe

27 August 2014 | 4606 Views
International fast-food retail giant KFC is planning to open more branches in Zimbabwe, in a development that will result in employment creation in the country.Bruce Layzell,  general man...

by Staff reporter

11 Zimbabwe banks distressed

27 August 2014 | 4317 Views
The Depositors Protection Corporation (DPC) says it is closely watching 11 banks exhibiting signs of financial distress under the Capital, Assets, Management, Earnings, Liquidity and Sensitivity to r...

by Staff reporter

Zera bars Zesa from increasing tariffs

27 August 2014 | 2773 Views
The Zimbabwe Energy Regulatory Authority (ZERA) has turned down an application by the Zimbabwe Energy Distribution Company (ZETDC) to increase electricity tariffs.The power utility had ap...

by Staff Reporter
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