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POLITICS

Ndiweni in Mnangagwa climbdown

OUTSPOKEN traditional leader, Chief Nhlanhlayamangwe Ndiweni - who has in recent months courted the ire of Zanu-PF apparatchiks with his stinging criticism of the government - has praised President Em...

By Staff reporter | Published: 02 July 2019

BUSINESS NEWS

Prices of goods in Zimbabwe will come down

PRESIDENT Emmerson Mnangagwa's under-pressure government says it is confident that the sky-high prices of basic goods that have made the lives of ordinary citizens miserable over the past few months w...

By Staff reporter | Published: 02 July 2019

TRANSPORT & TOURISM

Fastjet's hope for profit pinned on Zimbabwe currency

Low-cost African airline Fastjet Plc expects to be profitable on an underlying basis in 2019, Chief Executive Officer Nico Bezuidenhout said on Thursday, a year after a cash crunch nearly drove the ca...

By Staff reporter | Published: 02 July 2019

FINANCIAL SERVICES

Zimbabwe banks paying more than the black market rates

THE interbank market exchange rates have registered increases with most banks are now paying more than the parallel market rate.NewZimbabwe.com says it's market assessment shows that the once thriving...

By newzimbabwe | Published: 02 July 2019

MINING & RETAIL

PPC Zimbabwe revenue declines by 20%

PRETORIA Portland Cement (PPC) says revenue at its Zimbabwean entity declined by 20%, compared to last year, due to a weaker cement market, clinker shortages and depreciation in the functional currenc...

By Staff reporter | Published: 02 July 2019

BUSINESS NEWS

Chasi posts R139 million proof of payment to Eskom on Twitter

Zimbabwe's energy minister Fortune Chasi was on Tuesday forced to put the proof of the country's US$10m (R139m) payment to Eskom on his twitter account, after earlier claims of having paid was refuted...

By Staff reporter | Published: 02 July 2019

POLITICS

Chamisa will not allow Mnangagwa to stay up to 2023

Zimbabwe's economic crisis has potential to breed instability in the country and needs urgent redress, opposition leader Nelson Chamisa has said.Chamisa, mandated by the MDC congress in May to find la...

By Staff reporter | Published: 02 July 2019

POLITICS

Muchinguri claims $1 million defamation damages from Daily News

DEFENCE Minister, Oppah Muchinguri-Kashiri has filed a $1 million suit against the Daily News for alleged defamation in a case in which the private paper published an article claiming her housing coop...

By Staff reporter | Published: 02 July 2019

TELECOMS & TECHNOLOGY

Econet swings to $106,4m loss after tax

Econet Wireless Zimbabwe Limited (EWZL) posted a loss after-tax of ZWL$106,4 million in the year ended February 28, 2019, from a profit after-tax of ZWL$132,3 million recorded in 2018 following the un...

By Staff reporter | Published: 02 July 2019

INDUSTRIALS & ENERGY

Massive Zesa disconnections loom

POWER utility Zesa could soon embark on massive disconnections in an effort to recover over $1,2 billion owed to it by defaulting customers, most of whom are Cabinet ministers and top civil servants.E...

By Staff reporter | Published: 02 July 2019

FINANCIAL SERVICES

Agribank declares US$5,5m dividend

The Agricultural Development Bank (Agribank) has declared a US$5,5 million dividend to Government after recording a 63 percent growth in profit to $13 million in the year to December 2018, breaking aw...

By Staff reporter | Published: 02 July 2019

INDUSTRIALS & ENERGY

Zimbabwe confirms Eskom payment

Government yesterday confirmed paying US$10 million to South African power utility, Eskom, to service the debt to the power utility - and the money was set to be in the receiver's bank by end of day y...

By Staff reporter | Published: 02 July 2019

BUSINESS NEWS

Measures in place to preserve Zimbabwe dollar value

Finance and Economic Development Minister Professor Mthuli Ncube says authorities have instituted measures that will ensure that the local currency will not suffer previous depredations, following the...

By Staff reporter | Published: 02 July 2019

BUSINESS NEWS

Mnangagwa's govt urged to maintain fiscal discipline

THE move by government to make the RTGS currency the country's sole legal tender can work if government remains fiscally disciplined, builds political and economic confidence and boost production.Last...

By Staff reporter | Published: 01 July 2019

POLITICS

Zanu-PF youth League to look into Chiri's reports

THE Zanu-PF Youth League which has been breathing fire and brimstone over corruption in government and the private sector said it will be looking into Auditor-General (AG) Mildred Chiri's reports whic...

By Staff reporter | Published: 01 July 2019

POLITICS

Pressure on Mnangagwa

PRESIDENT Emmerson Mnangagwa is under extreme pressure to act on Auditor-General (AG) Mildred Chiri's reports, which are exposing the rot in government.This comes after Chiri released damning reports ...

By Staff reporter | Published: 01 July 2019

POLITICS

ZCTU defiant, members to proceed with demonstration

THE Zimbabwe Congress of Trade Unions (ZCTU) yesterday said its members will proceed with their demonstration if government does not revert back to the multi-currency regime, but President Emmerson Mn...

By Staff reporter | Published: 01 July 2019

ASIA PACIFIC

Russia, China to ditch US dollar

MOSCOW and Beijing have inked an intergovernmental agreement to switch to national currencies in bilateral trade and boost cross-currency settlements up to 50 percent as they ramp up efforts to move a...

By Russia Today | Published: 01 July 2019

BUSINESS NEWS

Zimbabweans resort to firewood, plastic, gas unaffordable

WITH a 15 to 19 hour load shedding schedule underway, massive hikes in prices of firewood and acute shortages on gas, some Zimbabweans have resorted to burning plastic to cook meals.Barely a week ago,...

By Staff reporter | Published: 01 July 2019

BUSINESS NEWS

Mthuli Ncube's sweeping move brings stability

FINANCE Minister Mthuli Ncube's sweeping decision to discard the multi-currency system that had obtained in Zimbabwe for the past 10 years has brought with it some modicum of stability into the econom...

By Staff reporter | Published: 01 July 2019

POLITICS

Mnangagwa thumbs nose at protest threats

BARRING threats of social upheaval, President Emmerson Mnangagwa has declared he is ready to stick it out and push with his reform agenda.Mnangagwa on Thursday told captains of industry meeting under ...

By Staff reporter | Published: 01 July 2019

BUSINESS NEWS

Mthuli Ncube's quotes on currency reforms . . .

"Replacing the multi-currency regime anchored in the United States dollar by the South African rand as the sole transaction currency would help reduce over-valuation and stimulate exports and growth. ...

By Lisa Tazviinga | Published: 01 July 2019

BUSINESS NEWS

Minister 'unleashes' Zanu-PF youths, police to grab mine

Mashonaland East Provincial Affairs minister Appolonia Munzverengi is being accused of using her political muscle to grab a mining claim owned by Mekasi Engineering.The company claim that the minister...

By Staff reporter | Published: 01 July 2019

MINING & RETAIL

Police officers clash over lucrative Gokwe mine

There was drama when police from Nembudzia Police Station fought and disarmed their counterparts from the Criminal Investigations Department (CID) in Gokwe after they tried to arrest an officer implic...

By Staff reporter | Published: 01 July 2019

OPINION

Analysis of Zimbabwe's Statutory Instrument 142 of 2019

ON June 24, 2019, Zimbabwe woke to news of a statutory instrument with clearly far-reaching effects in that it alters the currency landscape. This instrument has been followed by directives from the R...

By Mushoriwa Pasi | Published: 01 July 2019

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