BUSINESS NEWS

'Banks pumping cash into black market'

Banks have been fuelling the currency black market in Zimbabwe by moving bond notes onto the streets in search of the now elusive US dollar, economic experts, monetary and fiscal authorities have conf...

By Staff reporter | Published: 29 September 2017

BUSINESS NEWS

'Cash crisis not NSSA's problem'

The National Social Security Authority (NSSA) has never failed to pay pensioners their monthly payouts and cannot be blamed for failure by retirees to access cash at banks, a senior government officia...

By Staff reporter | Published: 29 September 2017

BUSINESS NEWS

Illegal currency dealers face arrest

Government on Thursday gazetted a regulations to provide for the arrest and prosecution of illegal currency dealers who sell cash at a premium. Previeosuly, the Banking Act only allowed the Reserve Ba...

By Staff reporter | Published: 29 September 2017

BUSINESS NEWS

Govt urged to provide swipe machines in rural areas

THE Deputy Minister of Public Service, Labour and Social Welfare Tapuwa Matangaidze has called on the Government to provide point of sale machines in rural areas to cater for pensioners who are forced...

By Staff reporter | Published: 29 September 2017

BUSINESS NEWS

Econet gives back to community

For years, the question has been asked: Can a business create value for its shareholders by generating profits, and for its customers by offering products and services that meet their needs, while at ...

By Staff reporter | Published: 29 September 2017

BUSINESS NEWS

Delta Corp pension fund battle rages on

Beverages manufacturer Delta Corporation has told its former workers who are demanding proceeds from a contentious pension fund that was set up following the de-mutualisation process in 2001 to seek r...

By Staff reporter | Published: 29 September 2017

BUSINESS NEWS

ZimAsset to be extended beyond 2018

Zimbabwe is looking at extending and staggering the implementation of the Zimbabwe Agenda for Sustainable Economic Transformation until 2040, according to sources familiar with the development.Sources...

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

Zim far from improving its 'ease of doing business'

Zimbabwe is "far" from improving its 'ease of doing business', the World Economic Forum (WEF) has said, as it once again ranked the nation among countries with poor global competitiveness in its lates...

By Staff reporter | Published: 28 September 2017

BUSINESS NEWS

FMHL, Nicoz deal under threat

THE acquisition of NicozDiamond by First Mutual Holdings Limited (FMHL) could collapse after a major shareholder in the shortterm insurer reportedly decided against disposing of its stake in the compa...

By Staff reporter | Published: 28 September 2017

BUSINESS NEWS

Competition Commission to probe impact of SI64

THE Competition and Tariff Commission (CTC) says it will shortly embark on a comprehensive survey to measure the effect import restrictions introduced in June last year have had on local industries.Is...

By Staff reporter | Published: 28 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

BUSINESS NEWS

'Mangudya blames government spending'

THE Zimbabwe Congress of Trade Unions (ZCTU)'s general secretary, Japhet Moyo, has revealed that at least $1,4 billion in the banking sector cannot be translated into physical cash because it was crea...

By Staff reporter | Published: 28 September 2017

OPINION

Dealing with financial sabotage in our economy

IT is possible to curb the current financial cash sabotage menace bedeviling our economy. Whilst the market is facing unpredictability, reminding the innocent citizens of the economic crisis of the la...

By Chris Ndlovu | Published: 28 September 2017

BUSINESS NEWS

Lack of POS machines cripples rural businesses

RURAL communities are unable to use plastic money due to poor telecommunications network connectivity.Given the continuing cash shortages in the economy, transacting is a nightmare for consumers in su...

By Staff reporter | Published: 28 September 2017

BUSINESS NEWS

Kariba South project nears completion

Commissioning of the first power generating unit under the $533 million Kariba South extension project, is expected in the second week of December, while the plant is scheduled to start feeding 150 me...

By Staff reporter | Published: 28 September 2017

BUSINESS NEWS

RBZ to raid service stations

The Reserve Bank of Zimbabwe will soon swoop on fuel dealers who reject coupons.The apex bank has accused the dealers of sabotaging the economy as well as causing artificial commodity shortages.Addres...

By Staff reporter | Published: 28 September 2017

BUSINESS NEWS

Basic commodities being repackaged for resale

THE Consumer Council of Zimbabwe (CCZ) says some basic commodities, which disappeared from shelves since weekend have been found on the black market.CCZ executive director, Ms Rosemary Siyachitema, sa...

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

BUSINESS NEWS

Panicky RBZ withdraws $25m in nostro

THE Reserve Bank of Zimbabwe (RBZ) revealed that the recent fuel and cooking oil shortages forced it to draw down $25 million from the $600 million nostro stabilisation facility on Monday, after the c...

By Staff reporter | Published: 28 September 2017

BUSINESS NEWS

Cash, forex traders put on notice

CABINET has approved a host of measures to arrest artificial shortages of basic commodities and the price madness triggered by economic saboteurs through social media, with Finance and Economic Develo...

By Staff reporter | Published: 28 September 2017

BUSINESS NEWS

RBZ doubles forex allocation for fuel importation

Government has doubled the weekly foreign currency allocation for fuel importation from $5 million to $10 million as part of measures to address shortages on the market. It has also facilitated the pr...

By Staff reporter | Published: 28 September 2017

BUSINESS NEWS

'Company secretaries key to good corporate governance'

Company secretaries play a pivotal role in ensuring good corporate governance is practised in the institutions they work for, according to the Institute of Chartered Secretaries and Administrators (IC...

By Staff reporter | Published: 27 September 2017

BUSINESS NEWS

Treasury to incentivise property developers

Finance and Economic Development Minister Patrick Chinamasa said Government was looking at giving incentives for property developers willing to upgrade and set up new structures for tertiary instituti...

By Staff reporter | Published: 27 September 2017

BUSINESS NEWS

'Price controls risk further shortages'

Economists warned of worse shortages of basic commodities and an expanding parallel currency market as the Zimbabwean government mulls plans for new price controls across all sectors of production, to...

By Staff reporter | Published: 27 September 2017

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