Latest News

FINANCIAL SERVICES

Paynet switches off Zimbabwe banks

PAYNET, a subsidiary of Mauritian financial services provider Payserv Africa, has suspended all local financial institutions from its transacting platform after they refused to pay in foreign currency...

By Staff reporter | Published: 14 June 2019

OPINION

Zimbabwe in austerity-induced recession

"OUTPUT in Zimbabwe is expected to contract in 2019 with a sharp rise in inflation reducing real incomes and foreign exchange shortages constraining activity," the World Bank reports in its Global Eco...

By Tinashe Kaduwo | Published: 14 June 2019

TRANSPORT & TOURISM

Zimbabwe's air traffic control system outdated, risky

ZIMBABWE'S outdated air traffic control system is putting lives of passengers in danger as it exposes planes to possible collisions, aviation experts have said.The archaic system also exposes the coun...

By Staff reporter | Published: 14 June 2019

TRANSPORT & TOURISM

Unifreight Africa in US$19m scandal

TRANSPORT group Unifreight Africa Limited allegedly prejudiced its shareholders on the Zimbabwe Stock Exchange (ZSE) an estimated US$18 million wired into an offshore account in the United Kingdom (UK...

By Staff reporter | Published: 14 June 2019

BUSINESS NEWS

New currency unlikely to perform miracles for Zimbabwe

GOVERNMENT'S plans to unveil a new currency by year-end without addressing macro-economic fundamentals could be catastrophic, while the proposed local unit risks suffering the same fate as the defunct...

By Staff reporter | Published: 14 June 2019

OPINION

Re-igniting debate on a sovereign currency

Whilst a single sovereign currency regime might be the way to go, own currency may not deliver desired results if we do not address what is currently weighing down our pseudo-currency (RTGS$) - the st...

By Persistence Gwanyanya | Published: 14 June 2019

BUSINESS NEWS

A damning indictment on Mnangagwa

PRESIDENT Emmerson Mnangagwa's administration's failure to address the economic challenges bedevilling the country - despite lofty promises - could have been described as spectacular if it were not so...

By Staff reporter | Published: 14 June 2019

OPINION

Can Zimbabwe develop into knowledge economy?

This week I was engaged in an interesting debate with fellow economists, on how Zimbabwe's economy can enter the 21st century. For a country whose future economic revival, I have suggested in my past ...

By Clive Mphambela | Published: 14 June 2019

OPINION

Online shopping: why its unstoppable growth may be coming to an end

Many people probably assume that online stores are making a fortune, without all the costly bricks and mortar. But the reality is rather different.Many ecommerce activities are, in fact, unprofitable;...

By Ralf Seifert & Richard Markoff | Published: 14 June 2019

FINANCIAL SERVICES

CBZ eyes diaspora market

Biggest banking group by assets and deposits CBZ Holdings Limited, has set eyes on diaspora mortgages, as part of its strategy to enhance foreign currency generation, a senior official has said. Throu...

By Staff reporter | Published: 14 June 2019

ZIMBABWE

ZSE reviews listing application fees

The Zimbabwe Stock Exchange (ZSE) has reviewed listing application fees in line with changes in the local functional currency. The changes are also based on an analysis of the regional listing fees an...

By Staff reporter | Published: 14 June 2019

TRANSPORT & TOURISM

Air Zimbabwe demands outstanding TBs to purchase an Embraer aircraft

Air Zimbabwe has engaged the Treasury and the Reserve Bank of Zimbabwe for the release of outstanding Treasury Bills (TBs) amounting to US$4 million for the purchase of an Embraer aircraft. Government...

By Staff reporter | Published: 14 June 2019

AFRICA BUSINESS

Break down trade barriers - AfDB chief

Elimination of barriers could potentially spur Africa's trade by 53 percent and eventually double in the medium term, Akinwumi Adesina, president of Africa Development Bank has said. Adesina made the ...

By Business Writer/AfDB | Published: 14 June 2019

MINING & RETAIL

Mercury ban poser for Zimbabwe gold mines

Zimbabwe is racing against time to find effective and sustainable ways to eliminate the use of mercury, which is widely used by small miners in processing gold, in line with dictates of global treaty ...

By Staff reporter | Published: 14 June 2019

BUSINESS NEWS

Zimbabwe industry feels the heat as sales drop

Prices of goods and services may have reached the plateau, amid indications volumes have started dipping significantly as consumers struggle with affordability, captains of industry and economic analy...

By Staff reporter | Published: 14 June 2019

BUSINESS NEWS

Production makes the economy, says Mnangagwa

President Mnangagwa said focusing on currency alone will not provide solutions to economic challenges facing the country - imploring Zimbabweans to focus on strategies to boost production. Discourse i...

By eBusiness Weekly | Published: 14 June 2019

POLITICS

Chamisa pleads with Mnangagwa

MDC leader Nelson Chamisa has indicated he is willing to talk to President Emmerson Mnangagwa in order to move the country forward if the dialogue does not result in him being part of government.Chami...

By Staff reporter | Published: 13 June 2019

TRANSPORT & TOURISM

Meikles Hotel sale now awaits shareholder approval

Zimbabwe Stock Exchange (ZSE) listed conglomerate, Meikles limited has announced that the proposed plan to sell shareholding in one of its hotels is now awaiting shareholder approval.The company issue...

By Staff reporter | Published: 13 June 2019

BUSINESS NEWS

ZRP impounds 5 000 unregistered vehicles

The Zimbabwe Republic Police (ZRP) has impounded 5 000 unregistered vehicles since January this year as part of its ongoing crackdown on unregistered vehicles.Registration of vehicles and display of n...

By Staff reporter | Published: 13 June 2019

POLITICS

Chamisa not plotting to purge security chiefs

MDC leader Nelson Chamisa yesterday said he was not plotting to purge security chiefs, but the political leadership of President Emmerson Mnangagwa that has been 'abusing Zimbabweans to pursue a parti...

By Staff reporter | Published: 13 June 2019

TELECOMS & TECHNOLOGY

Epson to set up office in Zimbabwe

Swedish information communication technologies (ICTs) giant Epson Europe BV will set up office in Harare next week in response to President Mnangagwa's pro-investment reforms under the New Dispensatio...

By Staff reporter | Published: 13 June 2019

POLITICS

Succession poser for Chamisa's MDC

THE opposition MDC's elective congress in Gweru last month failed to deal with the party's thorny succession issue, setting the stage for potentially explosive power struggles in the event that its pr...

By Staff reporter | Published: 13 June 2019

FINANCIAL SERVICES

MFIs mull forex lending

THE Zimbabwe Association of Microfinance Institutions (Zamfi) is considering foreign currency lending to assist producers in securing critical imports based on the anticipated effectiveness of the int...

By Staff reporter | Published: 13 June 2019

POLITICS

Mnangagwa's political dialogue not a power sharing deal

Government says national political dialogue recently launched by President Mnangagwa was not a power sharing negotiation or an initiative towards the creation of Government of National Unity (GNU) but...

By Staff reporter | Published: 13 June 2019

BUSINESS NEWS

Zinara revenues projected to hit $136m

The Zimbabwe National Roads Administration (Zinara)'s combined revenues are projected to rise to $135,6 million for the current year, up from $133,3 million last year. The improvement in the roads aut...

By Staff reporter | Published: 13 June 2019
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