Economic problems: Govt runs out of time
AS ZIMBABWE’S economy continues to lurch from one crisis to the other, business leaders and economists say the government is running out of both time and “rope” to turn the situation around. This comes...
View ArticleKarikoga Kaseke set to leave ZTA
ZIMBABWE Tourism Authority (ZTA) chief executive officer (CEO) Karikoga Kaseke is set to leave the institution he has led for 13 years. Kaseke, who took the role of CEO in July 2005 on reassignment...
View Article‘Transaction tax needs more tweaking’
TREASURY should add exemptions to the intermediated money transfer tax, which it announced last week, an expert has said. Last week, Finance minister Mthuli Ncube announced exemptions to the tax which...
View ArticleNSSA reinstates fired director
THE unending drama and leadership changes at the National Social Security Authority (Nssa) continues unabated amid indications that David Makwara — the recently reinstated investments director — has...
View Article‘Zim should revisit mining royalties’
GOVERNMENT should review mining royalties to encourage large scale investments in precious metals, Christina Muzerengi, a tax expert, has said. A royalty is a usage based tax, which is calculated as a...
View ArticleGovernment fails to tackle key problems
THE Zimbabwe government is failing to stem the country’s worsening economic crisis due to faulty policies, market analysts have said. Zimbabwe, once Africa’s breadbasket because of its agricultural...
View ArticleInflation hits post-dollarisation high
ZIMBABWE'S annual inflation rose to 5.39 percent in September, the Zimbabwe National Statistics Agency said on Monday, its highest in the post-dollarisation era. Month-on-month, inflation stood at 0.92...
View ArticleFears grow for pending bond notes, RTGS crash
UNCERTAINTY hangs over the future of bond notes and real time gross settlement (RTGS) transfers, as more businesses are rejecting the two payment methods and the economy is effectively re-dollarising....
View ArticleNo to price controls — jittery firms caution government
AS THE Zimbabwean economy continues to tank, businesses have warned the government against the temptation to impose price controls — to stem the rising prices of goods which have come on the back of...
View ArticleUS monitoring Zimbabwe’s economic situation
THE US says it is “closely monitoring” Zimbabwe’s economic situation and hopes the southern African country “returns to being a responsible international citizen”. Zimbabwe is facing an acute foreign...
View ArticleTrade deficit surpasses 2017 levels
ZIMBABWE’s cumulative trade deficit in the eight months to August 2018 increased to $1,84 billion from $1,74 billion recorded in the year to December 2017, latest data shows. The southern African...
View ArticleFirst Capital Bank lists on ZSE
FIRST Capital Bank (FCB) on Monday relisted on the Zimbabwe Stock Exchange (ZSE) after it changed its name from Barclays Bank of Zimbabwe. In October, 2017, Malawi Stock Exchange listed FMB Capital...
View ArticleZimbabwe rebases data, boosting GDP numbers by 40 percent
ZIMBABWE'S statistics agency has rebased some of its economic statistics, in an unexpected move that the finance minister said on Friday had increased the nominal size of the struggling economy by more...
View ArticleGloom, doom lingers in Zimbabwe
THE government’s latest fiscal and monetary pronouncements have failed to lift business sentiment and to dampen the country’s raging parallel markets amid indications that the current climate of doom...
View ArticleGovernment scouts for foreign currency
ZIMBABWE’S cash-strapped government has introduced a number of policy measures in order to retain foreign currency in the country. In his monetary policy presentation, central bank governor, John...
View ArticleBanks’ net profit jumps to $176m
ZIMBABWE’S banking sector recorded a net profit of $176,1 million for the six months to June 30, 2018, a 75,1 percent increase from $100,6 million recorded in the previous comparable period on the back...
View ArticleHigh Court blocks NSSA bid
ZIMBABWE’S High Court has prevented the National Social Security Authority (Nssa) from “fraudulently invoking” a $16 million performance bond or guarantee from Zimnat Lion Insurance Company (Zimnat)...
View ArticleMthuli calls for urgent action on domestic debt
GOVERNMENT’S domestic debt has escalated by over $9 billion in the past six years largely on civil servants salaries and other recurrent State expenditure. Presenting a mini-fiscal review on Monday,...
View ArticleZimbabwe’s major forex earner under threat
TOBACCO, Zimbabwe’s largest foreign currency earner, is under threat as uncontrollable pests and diseases have invaded fields, Dahlia Garwe, Tobacco Research Board director, has said. The tobacco...
View ArticleGovernment to stop money printing
FINANCE minister Mthuli Ncube says the central bank should immediately stop funding government budget deficit. “The overdraft with the Central bank stands at $2.3 billion, as at end of August 2018,...
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