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Excellent progress on Zimbabwe fiscal budget deficit reduction.



In the month of September 2018, the fiscal budget was balanced and the deficit was almost zeroProfessor Mthuli Ncube, Zimbabwe Minister of Finance said that there has been "Excellent progress ...Read more

Excellent progress on Zimbabwe fiscal budget deficit reduction.

09 November 2018 | 3727 Views
In the month of September 2018, the fiscal budget was balanced and the deficit was almost zeroProfessor Mthuli Ncube, Zimbabwe Minister of Finance said that there has been "Excellent progress ...

by Ndou Paul

Mthuli Ncube told to decentralise budgetary allocations

24 October 2018 | 2201 Views
The Minister of Finance and Economic Development Professor Mthuli Ncube has been urged to consider decentralising line ministries' budgetary allocations to provincial and district levels.This ...

by Staff Reporter

Zimbabwe considers debt cancellation

17 October 2018 | 5850 Views
Zimbabwe is considering a request to have its debt with the multilateral lenders, World Bank and International Monetary Fund to be cancelled in order to reduce burden on the country's fragile economy....

by Staff Reporter

Mthuli Ncube says Zimbabwe economy will stabilise, price shocks are transitory

14 October 2018 | 5128 Views
Finance and Economic Development Minister Professor Mthuli Ncube has said the price shocks that were recently experienced by the market are temporary as the economy adjusts to the new policies, which ...

by Staff Reporter

Mthuli Ncube secures backing of IMF and World Bank

10 October 2018 | 3891 Views
Today the Zimbabwe government led by the Minister of Finance and Economic Development, Hon. Prof. Mthuli Ncube held a crucial meeting with co-operating partners and International Financial Institution...

by Agencies

Govt de-dollarises economy, bond notes bounce back

02 October 2018 | 8027 Views
GOVERNMENT has technically de-dollarised the economy by reintroducing local currency bank accounts, which will be traded in electronic transfers and bond notes only, and piled more taxes on the transa...

by Staff Reporter

Mthuli Ncube statement on proposed fiscal reforms to bring Zimbabwe finances under control

01 October 2018 | 7644 Views
Minister of Finance Mthuli Ncube Statement on Proposed Fiscal Reforms to bring Zimbabwe finances under control ...

by Staff Reporter

Government approves $400m 5-year diamond mining project

24 September 2018 | 1964 Views
The government has approved a US$400 million five year diamond mining project to increase the value of returns in the capital intensive but viable industry.Renewed interest in the diamond mini...

by Staff Reporter

Zimbabwe's future is bright, says Mangudya

16 September 2018 | 5888 Views
Reserve Bank of Zimbabwe (RBZ) Governor Dr John Mangudya says the economy has performed well under difficult circumstances and the future is bright, particularly following the announcement of a "dream...

by Staff Reporter

The impacts of Credit Card Debt on the Economy

11 September 2018 | 2000 Views
Consumer spending is the main driver of economic growth and citizens sometimes borrow to spend. While debt isn't a bad thing, the economy becomes unsustainable if people are burdened with too much cre...

by Agencies

Zimbabwe requires US$2bn to ease liquidity challenges, says Mangudya

04 September 2018 | 3595 Views
The Reserve Bank of Zimbabwe (RBZ) says Zimbabwe requires about US$2 billion to kick start the economy and ease the current foreign currency challenges.The RBZ governor Dr John Mangudya and Fi...

by Staff Reporter

Zimbabwe underestimating its GDP

29 July 2018 | 330 Views
Zimbabwe's gross domestic product (GDP) reached $17, 85 billion last year, which is an all-time high, according to industry and commerce experts TradingEconomics.comZimbabwe's GDP averaged $6,...

by Staff reporter

Zimbabwe trade deficit reaches $1,3 billion

16 July 2018 | 219 Views
ZIMBABWE's trade deficit widened by 30 percent to $1,3 billion in the first six months of the year compared to the same period in 2017, official figures show.During the comparable period last ...

by Staff reporter

'RBZ fumes over return of Zim dollar'

04 July 2018 | 7588 Views
The Reserve Bank of Zimbabwe has expressed disgust over social media reports that it was reintroducing local currency, describing it as false.RBZ Governor John Mangudya said the RBZ  wish...

by Stephen Jakes

US dollar black market rate soars

28 June 2018 | 5709 Views
A crazed pre-election demand for the United States dollar has pushed the black market premium to an all-time high as shortages of foreign exchange fuels a roaring currency black market now driving up ...

by Staff reporter

'Banks to lead economic recovery'

26 June 2018 | 350 Views
Government is working with the Reserve Bank of Zimbabwe (RBZ) and other relevant bodies to ensure the country's banking sector is in a position to play key intermediary roles in the recovery of the ec...

by Staff reporter

Year-on-year inflation remains constant at 2.71%

19 June 2018 | 206 Views
ZIMBABWE's year-on-year inflation remained constant at 2,71 percent in May, official data from the Zimbabwe National Statistics Agency (Zimstat) shows.The month-on-month inflation rate was at ...

by Staff reporter

Zimbabwe forex receipts up to $2.8bn

10 June 2018 | 865 Views
Zimbabwe's economy has made a remarkable upswing since the beginning of year, with foreign currency receipts rising to $2,8 billion in the first five months of the year from the same period a year ago...

by Staff reporter

Econet Wireless reports $831m topline revenue

04 June 2018 | 377 Views
ECONET Wireless Zimbabwe has reported impressive $831,6 million top line revenue for the full year ended 28 February 2018, a 34 percent increase from the $621,7 million reported in the prior year....

by Staff Reporter

Government urged to set up financial intelligence unit

03 June 2018 | 520 Views
THE Government should establish an independent financial intelligence unit, outside the Reserve Bank of Zimbabwe, to guarantee its effectiveness under the Money Laundering and Proceeds of Crime Act....

by Staff Reporter

British govt investment team explores Zimbabwe opportunities

31 May 2018 | 2436 Views
The British government through their Foreign and Commonwealth Office are coming to town on an investment trip, the Business Daily...

by Staff reporter

AfDB throws weight behind Zimbabwe

27 May 2018 | 451 Views
The African Development Bank (AfDB) will work with its partners to see Zimbabwe roar back in a major boost for the economy, which is desperate for foreign capital.AfDB president Akinwumi Adesi...

by Staff Reporter

Zimbabwe courts New York fund managers

26 May 2018 | 849 Views
The Zimbabwe is open for business mantra has opened economic avenues for the country and to buttress this, the Office of the President and Cabinet (OPC) through its Special Advisor Ambassador Christop...

by Staff reporter

Zimbabwe working on new diamond policy

21 May 2018 | 764 Views
Government has started working on a new diamond policy which will lead to the unbundling of the Zimbabwe Consolidated Diamond Mining Company (ZCDC) to ensure more players are involved inthe sector, Pr...

by Staff reporter

April inflation up by 0.03%

16 May 2018 | 110 Views
The inflation rate increased slightly by 0,03 percentage points to 2,71% in April, the Zimbabwe National Statistic Agency (Zimstat) has said, although sceptics think inflation could be higher, as the ...

by Staff reporter

Zimbabwe exports up 46%

15 May 2018 | 1141 Views
ZIMBABWE's exports increased by 46 percent to $329,6 million in the first four months of the year compared to $225,6 million during the comparable period last year, official trade figures show....

by Staff reporter

Zimbabwe to grow at 27% yearly to reach Biti's $100 billion target

08 May 2018 | 1347 Views
MDC Alliance principal and former Finance Minister, Tendai Biti, has repeatedly claimed that, if elected into government, the opposition coalition would propel Zimbabwe to a $100 billion economy in ei...

by Staff reporter

China writes off Zimbabwe's debt - report

06 April 2018 | 3843 Views
China has reportedly written off Zimbabwe's debt to the Asian giant's institutions, paving the way for more funding to the southern African country whose ability to access new funding has been cripple...

by Staff reporter

Africa and the Start-Up economy

26 March 2018 | 3040 Views
Disrupt Africa, an entrepreneurship portal, has just released a new study that shows that the number of African tech startups that succeeded in raising funding...

by Agencies

Zimbabwe to clear $1,7 billion debt

18 March 2018 | 816 Views
Zimbabwe expects to make up for all its debt arrears to major international lenders by September and could return to international capital markets thereafter, the Reserve Bank deputy governor said on ...

by Reuters

Cash crisis spurs mobile money growth by 43 percent

15 March 2018 | 368 Views
Liquidity challenges spurred the growth of mobile money by 43 percent from 2016 to 2017, Postal and Telecommunications Regulatory Authority of Zimbabwe (POTRAZ) abridged annual postal and telecommunic...

by Byo24News Reporter

Money Laundering Bill gazetted

10 March 2018 | 1309 Views
GOVERNMENT has gazetted the Money Laundering and Proceeds of Crime (Amendment) Bill which seeks to strengthen the Financial Intelligence Unit of the Reserve Bank of Zimbabwe by giving it autonomy to e...

by Staff Reporter

Zimbabwe reaches out to foreign investors

07 March 2018 | 1385 Views
A HIGH-POWERED Zimbabwean delegation will be off to London next week for a conference, as the investment-starved country moves to lure foreign investors.The two-day Zimbabwe London Investment ...

by Staff reporter

'Restricted products flooding market'

06 March 2018 | 1170 Views
THE Confederation of Zimbabwe Industries (CZI) says restricted products were still finding their way into the country illegally, making the competition unfair for the local manufacturers.CZI M...

by Staff reporter

No takers for $15m RBZ tourism facility

28 February 2018 | 321 Views
The $15 million Tourism Revival Fund facility availed by the Reserve Bank of Zimbabwe to prop up the collapsing industry has been lying idle with the industry's players unaware of its existence, an ex...

by Staff reporter

Zimbabwe to mortgage minerals for capital

16 February 2018 | 979 Views
RESERVE Bank of Zimbabwe governor John Mangudya on Monday told visiting Australian assistant secretary for Africa branch Gita Kamath that the country is ready to securitise its mineral resources in ex...

by Staff reporter

Annual inflation rate up 3.52%

16 February 2018 | 214 Views
ZIMBABWE's annual rate of inflation gained 0,6 percentage points in December 2017 to 3,52 percent in January 2018, latest official data shows, partly driven by the 2018 back to school spending....

by Staff reporter

Jostling for Zimbabwe's economic cake reaches fever heights

12 February 2018 | 3898 Views
Jostling for business venture in the Zimbabwe has reached fever heights as foreign investors descend into the country to have a feel if it is good for business in Zimbabwe.Former ZBC presenter...

by Stephen Jakes

Mining investment indaba on

11 February 2018 | 703 Views
ZIMBABWE will this month hold a mining indaba, which will be attended by major mining global players from America, Europe, Asia and Russia as the country continues to sell its potential to internation...

by Staff reporter

Industry sees economy surpassing growth targets

11 February 2018 | 515 Views
INDUSTRY body, the Confederation of Zimbabwe Industries says the economy is likely to grow beyond the projected 4,5 percent this year on the back of anticipated industrial growth due to improved inves...

by staff reporter

Investors smile on Zimbabwe?

11 February 2018 | 2507 Views
Prospects for local industrial growth are brighter this year, with more company resuscitations expected as the country continues to gain ground as a fertile investment destination, a senior official h...

by Staff reporter

Mangudya in bid to woo investment

10 February 2018 | 535 Views
CENTRAL bank chief John Mangudya this week left interest rates unchanged but moved to mop up excess liquidity in the market through the issuance of government paper through open market operations to s...

by Staff reporter

Global banks shun 'high risk' Zimbabwe

02 February 2018 | 3443 Views
Zimbabwe has over the past few years lost 102 correspondent banking relationships due to high country risk, Reserve Bank of Zimbabwe Governor Dr John Mangudya said.Correspondent banking repres...

by Staff reporter

Zimbabwe strikes World Bank deal

26 January 2018 | 3786 Views
Zimbabwe is on the verge of breakthrough to start receiving concessionary finding support from the World Bank for the first time in nearly two decades after the Bretton Woods institution agreed to eng...

by Staff reporter

Industry welcomes fuel duty reduction

24 January 2018 | 384 Views
CAPTAINS of industry have welcomed the reduction of excise duty on fuel saying this will see the pump price going down as well as reducing the cost of production in the manufacuring sector.In ...

by Staff reporter

Mnangagwa launches investment Policy

20 January 2018 | 2043 Views
PRESIDENT Emmerson Mnangagwa yesterday launched the national investment policy statement that outlines the guidelines for investing in and harnessing the opportunities that abound in Zimbabwe....

by Staff Reporter

'Zimbabwe investment environment gloomy'

19 January 2018 | 732 Views
Zimbabwe's investment outlook remains gloomy with this year's harmonised elections likely to generate uncertainties, the African Development Bank (AfDB) has said.President Emmerson Mnangagwa t...

by Staff reporter

Forex shortages to persist until March

17 January 2018 | 1921 Views
Zimbabwe's debilitating foreign currency crisis will persist until the tobacco selling season begins in March, the Reserve Bank of Zimbabwe he said. RBZ financial markets deputy director Willi...

by Staff reporter

Zimbabwe to offer tax invcentives

17 January 2018 | 881 Views
Government will soon lower tax brackets for various economic players as an incentive to encourage investment in the country and grow the tax base.Addressing Zimbabweans and investors in Namibi...

by Staff reporter

Inflation stands at 3%

17 January 2018 | 1117 Views
ZIMBABWE'S year-on year inflation rate closed 2017 at 3.46 percent gaining 0.49 percentage points on the November rate of 2.97 percent, official figures show.This means that prices as measured...

by Staff reporter
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