BUSINESS NEWS

Zimbabweans hold on to greenback

FOREIGN currency cash transacted in July was $101,82 million down from $334,61 million in April, showing more people are increasingly holding on to the greenback, latest, statistics from the central b...

By Staff reporter | Published: 16 hours ago

BUSINESS NEWS

Import control measures save Zimbabwe $2bn

Zimbabwe saved over $2 billion in potential import expenses following the introduction of import control measures under Statutory Instrument 64 of 2016, Vice President Emmerson Mnangagwa said yesterda...

By Staff reporter | Published: 15 October 2017

BUSINESS NEWS

IMF tells Zimbabwe to live within her means

The International Monetary Fund (IMF) has said Zimbabwe needs to address the forex shortages and live within its means, as a solution to the prevailing economic woes.In a recent Press briefing, IMF de...

By Staff reporter | Published: 15 October 2017

BUSINESS NEWS

Zimbabwe rules out adopting SA Rand

Reverse Bank of Zimbabwe (RBZ) governor John Mangudya has ruled out prospects of Zimbabwe adopting the South African rand as its anchor currency.This comes amid frenzied social media posts claiming Pr...

By Staff reporter | Published: 06 October 2017

MINING & RETAIL

Probe into Zimbabwe missing $15 billion still on

GOVERNMENT is still pursuing investigations into the suspected leakage of $15 billion from Chiadzwa diamond fields in Manicaland, Mines and Minerals Development Minister Walter Chidhakwa said yesterda...

By Staff reporter | Published: 06 October 2017

BUSINESS NEWS

Zimbabwe relaxes import rules

Government has reduced the number of products that require import licences as part of its ongoing efforts to improve Zimbabwe's ease of doing business while at the same time placing imports of school ...

By Staff reporter | Published: 05 October 2017

BUSINESS NEWS

Zimbabwe government burns through cash

PRESIDENT Robert Mugabe's government has run up a cumulative budget deficit of more than $3 billion since 2014, funded through local borrowings which have fuelled inflation and compounded a foreign cu...

By Staff reporter | Published: 05 October 2017

BUSINESS NEWS

'Zim's nostro facility to run for 8 months'

RESERVE Bank of Zimbabwe (RBZ) governor John Mangudya yesterday said the US$600 million nostro stabilisation facility from the African Export Import Bank (Afreximbank) will help alleviate foreign curr...

By Staff reporter | Published: 05 October 2017

BUSINESS NEWS

ZCTU plans national shutdown protests

THE Zimbabwe Congress of Trade Unions (ZCTU) is planning demonstrations to protest against the current economic meltdown, in a bid to pile pressure on government to resuscitate the economy.ZCTU's gene...

By Staff reporter | Published: 05 October 2017

POLITICS

'Zimbabwe unknown in China'

CHINESE ambassador to Zimbabwe Huang Ping says the southern African country is virtually unknown in the Asian country, despite the country spending millions of dollars over the past decade marketing i...

By Staff reporter | Published: 05 October 2017

BUSINESS NEWS

Zimbabwe grosses $4 billion

Zimbabwe grossed $4 billion during the first nine months of this year through exports and foreign currency inflows from mostly Diaspora remittances, the central bank said on Wednesday.Speaking at a Co...

By Staff reporter | Published: 04 October 2017

TRANSPORT & TOURISM

Visit Zimbabwe campaign launched

The Zimbabwe Tourism Authority (ZTA) has unveiled a Visit Zimbabwe campaign targeting three markets, in an ambitious bid to grow tourist arrivals.The campaign targets South Africa, China and Russia, Z...

By Staff reporter | Published: 03 October 2017

Zimbabwe chrome popular in China

Zimbabwe exported over 136 000 tonnes of ferrochrome to China during the first five months of 2017, according to trade statistics just released.According to data published by ferroalloynet.com, about ...

By Staff reporter | Published: 02 October 2017

BUSINESS NEWS

Uproar over 'slavery' on Zimbabwe farms

Farmworkers in Zimbabwe can now be employed for four and half years by the same employer on short-term contracts, an arrangement that leaves them vulnerable to abuse and without terminal benefits.Acco...

By Staff reporter | Published: 02 October 2017

BUSINESS NEWS

'Zim has potential for economic growth'

ZIMBABWE has potential to grow tremendously into a viable and enviable economy on the continent despite sanctions imposed by the West, a top Chinese academic has said.Addressing journalists during a s...

By Staff reporter | Published: 02 October 2017

TRANSPORT & TOURISM

Zimbabwe offers sweetener to foreign airlines

THE government is considering waiving navigation and landing fees to lure new airlines into the destination, in an ambitious drive to grow the tourism sector.The tourism sector is considered a low han...

By Staff reporter | Published: 02 October 2017

POLITICS

There is no currency crisis in Zimbabwe, claims minister

Fears of a return to the hyperinflation era that preceded the introduction of the multi-currency system in 2009 were heightened in the past fortnight when the value of bond notes tumbled on the parall...

By Staff reporter | Published: 02 October 2017

ZIMBABWE

Zimbabwe-SA trade deficit shrinks by 32%

THE trade deficit between Zimbabwe and South Africa narrowed by 32% to $98 million in the first eight months of the year, after exports increased by 15%, latest trade data from the Zimbabwe Statistica...

By Staff reporter | Published: 29 September 2017

BUSINESS NEWS

Zimbabwe nowhere near 2008

The country is not going back to the 2008 ea as the fundamentals then and now are different. About a decade ago Zimbabwe suffered record breaking hyperinflation, which resulted in the total collapse o...

By Staff reporter | Published: 29 September 2017

BUSINESS NEWS

Afreximbank, Zimbabwe's lender of last resort

THE African Export Import Bank (Afreximbank) has emerged as Zimbabwe's key source of financial succour since the early 2000s, when President Robert Mugabe's government was frozen out of international ...

By Staff reporter | Published: 28 September 2017

MINING & RETAIL

Zimbabwe to displace more for diamond mining

Government - through its Zimbabwe Consolidated Diamond Company (ZCDC) - could relocate more people in Manicaland province to pave way for diamond mining, if it secures claims to the Tsvingwe area.Tsvi...

By Staff reporter | Published: 28 September 2017

BUSINESS NEWS

Bond notes still legal tender in Zimbabwe, says RBZ

THE Reserve Bank of Zimbabwe (RBZ) has dismissed as a hoax messages circulating on social media calling on Zimbabweans to deposit all bond notes claiming the Central Bank wants to replace them with a ...

By Staff reporter | Published: 28 September 2017

INDUSTRIALS & ENERGY

'Zimbabwe has over 2 months' supply of fuel'

The Ministry of Energy and Power Development has assured the nation that it is holding more than two months' supply of diesel and over a month's supply of petrol.  Minister of Energy Dr Samuel Un...

By Staff reporter | Published: 27 September 2017

INDUSTRIALS & ENERGY

Uptake of solar energy in Zimbabwe set to rise

For a country that is blessed with plentiful sunlight and at the same time blighted with constrained electricity supply, Zimbabwe's utilisation of renewable energy – solar energy in particular – i...

By Staff reporter | Published: 27 September 2017

TRANSPORT & TOURISM

Fly Zimbabwe Airways recruits staff

Fly Zimbabwe Airways has started recruiting staff pending its launch.A newspaper advertisement which was published yesterday said Fly Zimbabwe Airways is seeking an unspecified number of flight attend...

By Staff reporter | Published: 27 September 2017
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