INDUSTRIALS & ENERGY

Major shareholder cuts off forex support to Nampak

PACKAGING manufacturer Nampak Zimbabwe says it has been cut off by its major shareholder Nampak Holdings, which has been assisting it with foreign currency due to non-payment of outstanding debts.The ...

By Staff reporter | Published: 07 February 2019

BUSINESS NEWS

TSL seeks forex to stay afloat

Industrial holdings group Tobacco Sales Limited (TSL) says it will this year focus on partnerships with international firms to generate foreign currency to cushion its operations.TSL's plan comes at a...

By Staff reporter | Published: 03 February 2019

MINING & RETAIL

Mining sector to meet Chitando over forex allocation

MINE workers and the Chamber of Mines have agreed to approach the government and table a request for the sector to get at least 80% of their foreign currency earnings, businessdigest has learnt.This c...

By Staff reporter | Published: 19 January 2019

OPINION

Delta debacle: Dialogue key

The debacle between Government and Delta Corporation over the latter's announcement that it intended to price its products in foreign currency, brings to the fore the dire need for a social contract b...

By Africa Moyo | Published: 06 January 2019

BUSINESS NEWS

Consumers appeal for protection against wave of pricing in forex

THE Consumer Council of Zimbabwe (CCZ) has appealed for urgent Government intervention in protecting consumers against the tide of foreign currency pricing of goods and services at a time when a major...

By Staff reporter | Published: 04 January 2019

BUSINESS NEWS

Delta reverses forex decision

Delta Corporation has reversed a decision to sell its products in foreign currency after the Reserve Bank of Zimbabwe (RBZ) yesterday assured the beverage manufacturer it would provide the forex requi...

By Staff reporter | Published: 04 January 2019

BUSINESS NEWS

Bulawayo targets forex earners

Bulawayo City Council has set its sights on earning foreign currency (forex) from ratepayers domiciled in foreign lands as well as from international organisations operating in Zimbabwe in a bid to sh...

By Staff reporter | Published: 02 January 2019

BUSINESS NEWS

Government targets forex earnings in education

GOVERNMENT is targeting to generate foreign currency through human capital exportation and has renewed negotiations with South Sudan over exporting unemployed graduates. In the past, Government reveal...

By Staff reporter | Published: 01 January 2019

BUSINESS NEWS

'Selling fuel in forex not Government policy'

ENERGY and Power Development Minister Dr Joram Gumbo says the selling of fuel in foreign currency by some dealers is not Government policy. Some licensed service stations have been reportedly selling ...

By Staff reporter | Published: 31 December 2018

BUSINESS NEWS

Corruption worsens fuel shortages

Unscrupulous fuel attendants and dealers have compounded a critical fuel supply situation that was caused by limited foreign currency reserves in the first place, investigations show. Fuel dealers and...

By Staff reporter | Published: 31 December 2018

BUSINESS NEWS

Zimra starts forex tax collection

The Zimbabwe Revenue Authority (Zimra) has started collecting taxes, especially Value Added Tax (VAT) and Pay-As-You-Earn (PAYE) in foreign currency from companies that collect payments in that curren...

By Staff reporter | Published: 31 December 2018

CZI lobbies for partial free FX rate

The Confederation of Zimbabwe Industries, the country's biggest industry representative group, is lobbying the Reserve Bank of Zimbabwe to consider partially floating the exchange rate in order to min...

By Staff reporter | Published: 30 December 2018

BUSINESS NEWS

Forex inflows hit $6 billion

Zimbabwe's foreign currency earnings for the year to date have hit the US$6 billion mark, from US$4,6 billion realised in the whole of last year as the country's exports and Diaspora remittances conti...

By Staff reporter | Published: 21 December 2018

BUSINESS NEWS

Bulawayo council approves sale of stands in forex

Bulawayo City Council (BCC) has approved the sale of housing stands in foreign currency, a move that is set to make them priced out of reach of many citizens, who have endured falling standards of lif...

By Staff reporter | Published: 20 December 2018

BUSINESS NEWS

Mthuli Ncube defends forex duty in an intelligent manner

Finance and Economic Development Minister Professor Mthuli Ncube yesterday defended the payment of import duty in foreign currency in his 2019 National Budget Statement saying the measure was premised...

By Staff reporter | Published: 20 December 2018

BUSINESS NEWS

'Extend 20% forex scheme to all farmers'

THE Reserve Bank of Zimbabwe (RBZ) should extend its 20 percent forex payment scheme to all farmers other than cotton and tobacco growers so as to enhance increased agricultural output. In an intervie...

By Staff reporter | Published: 19 December 2018

INDUSTRIALS & ENERGY

Forex shortage: Innscor looks within

DIVERSIFIED group, Innscor Africa Limited says it is now leveraging on its domestic fast-moving consumer goods line to cushion itself from high foreign currency requirements. The company said although...

By Staff reporter | Published: 19 December 2018

BUSINESS NEWS

Zera mulls pricing fuel in forex

The Zimbabwe Energy Regulatory Authority (Zera) has made submissions to Government to allow some selected service stations countrywide to sell fuel to motorists in foreign currency.This comes as the c...

By Business Weekly | Published: 07 December 2018

BUSINESS NEWS

Forex woes hit Innscor

INNSCOR Africa Ltd says it is now leveraging on its domesticated fast-moving consumer goods lines to cushion itself from high foreign currency requirements.The diversified group, which requires betwee...

By Staff reporter | Published: 07 December 2018

BUSINESS NEWS

Fuel companies call for 2-week forex cover

Fuel firms operating in the country have said Government should supply them with two-week worth of foreign currency cover to ensure there are no gaps that "exaggerate" the fuel shortages. Appearing be...

By Staff reporter | Published: 07 December 2018

MINING & RETAIL

Forex shortages, inflation weigh on Innscor

Diversified Industrial group, Innscor Africa Limited says gross profit margins during the first quarter of the 2019 financial year remained under pressure due to foreign currency and inflationary pres...

By Staff reporter | Published: 06 December 2018

POLITICS

Law to compel forex recipients to charge in bonds

Government is crafting a law that compels business people who receive foreign currency allocation from Treasury to charge their products in local currency, President Mnangagwa said yesterday. Further,...

By Staff reporter | Published: 04 December 2018

BUSINESS NEWS

Forex dealer loses R15 000 to armed robbers

A Masvingo-based money changer lost R15 000, while his colleague lost his Funcargo pirate taxi after the pair was allegedly lured by two armed robbers who pretended to be clients seeking to buy cash r...

By The Herald | Published: 03 December 2018

BUSINESS NEWS

Zimbabwe already on path to currency reforms

Asset management and financial services firm, Zimnat, says pre-mature devaluation of real time gross settlement (RTGS) dollars could cause irreparable damage to confidence, national savings, financial...

By The Sunday Mail | Published: 03 December 2018

BUSINESS NEWS

'Resolve forex repatriation bottlenecks'

ZIMBABWE should institute urgent measures to eliminate bottlenecks choking repatriation of foreign currency by foreign companies if Harare is serious about attracting significant Foreign Direct Invest...

By The Herald | Published: 03 December 2018
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