BUSINESS NEWS

Black market rates hit 100% ceiling, why and how?

PARALLEL market rates have finally hit 100% when using EcoCash or bank transfers to buy the greenback, the first time they have reached such a rate since dollarisation and the main question now is how...

By Staff reporter | Published: 18 July 2018

BUSINESS NEWS

60 new magistrates undergo induction course

CHIEF Justice Luke Malaba yesterday commended the government for lifting the lid on public service recruitment, saying the move had enabled the Judicial Service Commission (JSC) to hire an additional ...

By Staff reporter | Published: 10 July 2018

POLITICS

Chamisa penetrates Zanu-PF strongholds

MDC Alliance leader Nelson Chamisa seems to be making inroads in what used to be Zanu-PF strongholds where thousands of people are teeming to attend his rallies.Rural areas have for long been consider...

By Staff reporter | Published: 09 July 2018

BUSINESS NEWS

Bulawayo residents threaten rates boycott

THE Bulawayo City Council has rapped Vice-President Constantino Chiwenga for urging residents to boycott paying rates at a time government departments and parastatals were owing a combined $7 million ...

By Staff reporter | Published: 06 July 2018

POLITICS

Chiwenga's rates boycott recipe for disaster

VICE-PRESIDENT Constantino Chiwenga's weekend call for Harare residents to stop paying rates to force the MDC-T-dominated local authority to improve service delivery cannot go unchallenged as it sets ...

By Staff reporter | Published: 03 July 2018

POLITICS

Chiwenga urges supporters to stop paying rates

ACTING President Constantino Chiwenga yesterday dangled a carrot to Zanu-PF supporters in Harare by urging them to stop paying council rates if they were aggrieved by services provided by the local au...

By Staff reporter | Published: 02 July 2018

POLITICS

Kasukuwere narrates great escape

FORMER Cabinet minister and Zanu-PF commissar, Saviour Kasukuwere yesterday told a Harare magistrate that he escaped death by a whisker last November when the military pumped over 113 rounds of live a...

By Staff reporter | Published: 13 June 2018

POLITICS

Kasukuwere narrates 'execution' plot

Former Zanu PF national political commissar Saviour Kasukuwere said that he skipped the country's border and sought refugee in Mozambique after learning that the junta wanted to execute him during the...

By Staff reporter | Published: 12 June 2018

POLITICS

ZPC boss exonerates Undenge

ZIMBABWE Power Company managing director, Noah Gwariro yesterday sprung to the defence of former Energy minister Samuel Undenge, who is accused of criminal abuse of office after he allegedly ordered t...

By Staff reporter | Published: 07 June 2018

POLITICS

57 magistrates for special election violence courts

In a move meant to ensure fair, peaceful and credible elections, Chief Justice Luke Malaba has designated 57 magistrates to expeditiously handle cases of politically-motivated violence and intimidati...

By Staff reporter | Published: 04 June 2018

POLITICS

Mnangagwa's office exonerates Undenge

DEPUTY Chief Secretary in the office of the president and cabinet, Ray Ndlukula Tuesday gave his testimony in a case in which former Energy Minister, Samuel Undenge, is accused of abusing his duties s...

By Staff reporter | Published: 24 May 2018

BUSINESS NEWS

'Interest rates drop to maximum 12%'

THE Reserve Bank of Zimbabwe (RBZ) says it continues to engage banks over the cost of borrowing, as directed by Government, but contends that at current prevailing range of 6 and 12 percent; lending r...

By Staff reporter | Published: 16 May 2018

FINANCIAL SERVICES

Zimbabwe lending rates too high

ZIMBABWE's high cost of borrowing, which is much higher than in regional economies, is rendering the country's products uncompetitive, a Zimbabwe Economic Policy Analysis and Research Unit (ZEPARU) re...

By Staff reporter | Published: 10 May 2018

FINANCIAL SERVICES

Banks urged to reduce interest rates

THE Reserve Bank of Zimbabwe (RBZ) was engaging banks to reduce interest rates on loans to stimulate production across various sectors of the economy, Vice-President Constantino Chiwenga has said.Spea...

By Staff reporter | Published: 26 April 2018

POLITICS

Zimbabwe celebrates Independence Day

ZIMBABWE today celebrates 38 years of Independence from British colonial rule with Zanu-PF yesterday calling on all patriots to uphold and cherish the values that sprung from the liberation struggle.T...

By Staff reporter | Published: 18 April 2018

BUSINESS NEWS

ZITF hotel generates foreign interest

A number of foreign firms have expressed interest to assume the role of transaction advisor to the hotel and convention centre earmarked to be constructed by the Zimbabwe International Trade Fair (ZIT...

By Staff reporter | Published: 09 April 2018

BUSINESS NEWS

Lending rate restricted money market interest rates

Average interest rates for money market investments were restricted by bank lending rates that ranged from between six percent and 12 percent in 2017, Old Mutual Securities (Omsec) has said. In their ...

By Staff reporter | Published: 08 February 2018

BUSINESS NEWS

Zinara exonerates execs in fraud case

The case of five Zimbabwe National Road Administration (Zinara) executives accused of allegedly fraudulently transferring more than $2 million into bogus companies' accounts in a shady loan repayment ...

By Staff reporter | Published: 31 January 2018

POLITICS

Tsvangirai's health deteriorates

MDC-T leader Morgan Tsvangirai is reportedly battling for his life in South Africa, where he is receiving treatment, as his condition continues to deteriorate amid reports that his doctors have indica...

By Staff reporter | Published: 26 January 2018

BUSINESS NEWS

Mortgage lending rates too steep

The country's mortgage lending rates are still too high, a scenario that is limiting the number of ordinary people who can access mortgage finance, an expert in the industry has said. Real Estate Inst...

By Staff reporter | Published: 09 January 2018

BUSINESS NEWS

Mnangagwa reiterates re-engagement drive

President Emmerson Mnangagwa yesterday reiterated his desire to engage the world, in order to get assistance to rescue the country from socio-economic collapse.Speaking at his installation as chancell...

By Staff reporter | Published: 02 December 2017

AFRICA BUSINESS

SA expected to cut interest rates to 6.50%

South Africa's central bank is expected to cut its benchmark interest rate by another 25 basis points next week, taking it to 6,50 percent, as inflation is considered likely to moderate, a Reuters pol...

By Reuters | Published: 14 September 2017

FINANCIAL SERVICES

MFIs defy RBZ interest rates directive

THE Reserve Bank of Zimbabwe (RBZ) says it will take action against microfinance institutions that continue to charge lending rates above 10 percent per month.In February, the monetary authority issue...

By Staff reporter | Published: 07 August 2017

ZIMBABWE

Mangudya leaves interest rates unchanged

Zimbabwe's central bank chief John Mangudya left interest rates unchanged, saying lowering the rates could be a moral hazard in the troubled country, despite his push to stimulate production and gener...

By Staff reporter | Published: 04 August 2017

TELECOMS & TECHNOLOGY

Zim mobile industry generates $200m in revenue

Zimbabwe's mobile network industry has grown to become a significant sector of the economy, generating close to $200 million in quarterly revenues and a sizable profits for the three network operators...

By Staff reporter | Published: 25 July 2017
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