POLITICS

'Grace Mugabe owns Wellcash'

Local Government minister July Moyo was yesterday grilled in Parliament over government's engagement of a company owned by former first lady Grace Mugabe as debt collectors in several local authoritie...

By Staff reporter | Published: 27 September 2018

BUSINESS NEWS

Zivhu calls for probe into cash vending

CHIVI SOUTH legislator Killer Zivhu (Zanu-PF) feels the government and the Reserve Bank of Zimbabwe (RBZ) must investigate circumstances resulting in the current cash crisis in the formal banking syst...

By Staff reporter | Published: 17 September 2018

BUSINESS NEWS

Mthuli Ncube has a cash crisis plan

NEWLY-APPOINTED Finance and Economic Development minister Mthuli Ncube says government expects to announce a plan to tackle the on-going currency crisis by month-end and confirmed that he expects to r...

By Staff reporter | Published: 11 September 2018

BUSINESS NEWS

Zesa under fire over EcoCash purchases

THE Zimbabwe Electricity Supply Authority (Zesa) has increased its minimum EcoCash prepaid electricity token to $10 from $2, much to the chagrin of customers who say the hike caught them by surprise. ...

By Staff reporter | Published: 10 September 2018

BUSINESS NEWS

Govt goes after businesses as cash crisis gnaws

The Zimbabwe Anti-Corruption Commission (Zacc) has threatened to go after businesses that do not bank cash proceeds as well as financial institutions that allegedly channel cash into the informal sect...

By Staff reporter | Published: 06 September 2018

TELECOMS & TECHNOLOGY

EcoCash charges further slashed

LEADING mobile telecommunications company Econet Wireless Zimbabwe has further lowered its EcoCash transaction tariffs with effect from August 1, 2018.In a notice issued yesterday, Econet said sending...

By Staff reporter | Published: 26 July 2018

BUSINESS NEWS

$5m gold, cash scandal suspects set free

THE $5 million gold and cash scandal, which rocked Zimbabwe about two weeks ago, is dead in the water amid indications that the five Indian suspects have been released along with their "loot".While po...

By Staff reporter | Published: 23 July 2018

BUSINESS NEWS

Cash dealers slash exchange rate

CASH dealers are selling bond notes at a premium rate of 22% to buyers using EcoCash in the high-density Harare suburb of Mbare, which is the lowest rate on offer thus far.In a snap survey conducted b...

By Staff reporter | Published: 23 July 2018

POLITICS

Mnangagwa's source of multi-million-dollar campaign cash questioned

IN TERMS of funding alone, the ruling Zanu-PF party has clearly had a huge advantage over the competition as campaigning gets into the final stretch for the crunch July 30 elections.Huge billboards an...

By Staff reporter | Published: 22 July 2018

ZIMBABWE

RBZ increases cash injections to $150m

RESERVE Bank of Zimbabwe governor John Mangudya says the central bank has increased the foreign currency injections into the economy by 50% to $150 million a month to ease forex shortages.This came am...

By Staff reporter | Published: 16 July 2018

OPINION

Cash crisis a source of poverty in Zimbabwe

THE recent media reports that the parallel market rates ranges between 60% and 65% for mobile money platforms like EcoCash and 75% for bank transfers on the parallel market as forex has become increas...

By David Mhlanga | Published: 13 July 2018

POLITICS

Mphoko accused of 'looting' Choppies cash

THE Mphoko family has come under fire for allegedly hijacking the Choppies retail business and "looting" cash from the outlets countrywide without board approval.Mr Siqokoqela Mphoko, son to the count...

By Staff reporter | Published: 11 July 2018

BUSINESS NEWS

RBZ doubles cash imports to $100m

The Reserve Bank of Zimbabwe (RBZ) has doubled cash imports to $100 million per month as the central bank tries to ameliorate the prevailing cash shortages as well as meet rising demand from recoverin...

By Staff reporter | Published: 08 July 2018

OPINION

EcoCash crash shows the vulnerabilities of going cashless

Although mobile money has become the leading transaction platform in Zimbabwe, its weaknesses came into focus this week after the dominant EcoCash network in Zimbabwe went down for two days, and left ...

By Tawanda Karombo | Published: 05 July 2018

FINANCIAL SERVICES

Zimpost launches funeral cash plan

Postal services provider Zimpost has partnered First Mutual Life (FML) Assurance to launch funeral assurance - PostLife Funeral Cash Plan.The product is underwritten by FML.The partnership, signed on ...

By Staff reporter | Published: 05 July 2018

BUSINESS NEWS

Zimbabwe cash crisis 'killing business'

THE uncertainty around regional budget airline Fastjet's future partly due to unremitted cash from its Zimbabwean operations  has added credence to the view that Harare's currency problems "are k...

By Staff reporter | Published: 05 July 2018

TELECOMS & TECHNOLOGY

EcoCash glitches: POTRAZ seeks answers

The Postal and Telecommunications Regulatory Authority of Zimbabwe (POTRAZ) has engaged Econet to seek clarification over the breakdown of their mobile transaction platform that plunged business to a ...

By Staff reporter | Published: 04 July 2018

TELECOMS & TECHNOLOGY

EcoCash glitches leave thousands stranded

THOUSANDS of Econet customers have been stranded in recent days as the popular EcoCash mobile money transfer platform has been misfiring.Subscribers have been struggling to make payments via EcoCash s...

By Staff reporter | Published: 04 July 2018

BUSINESS NEWS

Calls to re-open Cashel Valley border post

The Chimanimani community has appealed for the re-opening of the Cashel Valley commercial border post as well as its upgrading in order to reduce congestion on Forbes border post.22 years ago the peop...

By Staff reporter | Published: 03 July 2018

POLITICS

'Most aspiring councillors just after cash'

URBAN Councils Association of Zimbabwe (UCAZ) president Bernard Manyenyeni has taken a dig at the majority of aspiring councillors in this month's polls, saying they were driven by greed and not commi...

By Staff reporter | Published: 02 July 2018

POLITICS

Biti offers 'bus loads' of cash

MDC Alliance principal Mr Tendai Biti has said "whites will come with lorries and buses full of money" to Zimbabwe if the opposition coalition wins the July 30, 2018 harmonised elections.At a rally at...

By Staff reporter | Published: 01 July 2018

FINANCIAL SERVICES

Cash shortage to persist

Zimbabwe's liquidity challenges are set to persist until after the country's July 30 polls with financial institutions heavily exposed to political risks, an international think tank has said. Fitch G...

By Staff reporter | Published: 29 June 2018

TRANSPORT & TOURISM

Zim cash crisis threatens fastjet survival

Shares in African budget airline Fastjet collapsed on Wednesday after warning it could go bust unless it obtains new funding.The airline, set up by easyJet founder Sir Stelios Haji-Ioannou, flies in s...

By BBC | Published: 28 June 2018

POLITICS

Cash shortages now Zim's major election issue

The leader of Zimbabwe main opposition party, Nelson Chamisa, alighted from his car, grabbed a microphone and made a bold promise to scrap bond notes if he wins the July 30 presidential election to st...

By Staff reporter | Published: 24 June 2018

ZIMBABWE

'Cash shortages will end,' says Mnangagwa

Government will soon unveil systematic measures to comprehensively address cash shortages, while introduction of a local currency will remain a long-term objective, President Emmerson Mnangagwa has sa...

By Staff reporter | Published: 24 June 2018
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