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Zimbabwe trade registers $44,2m deficit



ZIMBABWE'S trade opened the year in the negative, registering a $44,2 million deficit in January, latest data from the statistics agency has shown.Figures released by the Zimbabwe Statistics A...Read more

Zimbabwe trade registers $44,2m deficit

14 March 2019 | 760 Views
ZIMBABWE'S trade opened the year in the negative, registering a $44,2 million deficit in January, latest data from the statistics agency has shown.Figures released by the Zimbabwe Statistics A...

by Staff Reporter

Tobacco to increase foreign currency inflows

02 March 2019 | 1374 Views
Foreign currency inflows into the country are set to improve next month, with the Tobacco Industry and Marketing Board (TIMB) having indicated that the 2019 tobacco marketing season will open on March...

by Staff Reporter

How to Choose the Best Forex Broker for Beginners

20 February 2019 | 1272 Views
The Forex market is one of the largest financial markets in the world. It offers 24 hours trading with a turnover of trillions of dollars a day. The currency market is filled with people with diverse ...

by Staff Reporter

Zimbabwe, SA in financial package talks

27 January 2019 | 13208 Views
ZIMBABWE and South Africa are still locked in crucial talks over a financial package for Harare to help the country clear its arrears to international financial institutions, Finance Minister Professo...

by Staff Reporter

Government targets reduction of tax burden by 2021

13 January 2019 | 1508 Views
Government says Zimbabweans should expect reduction of the tax burden by 2021 as Treasury seeks to address challenges that led to the country experiencing fiscal imbalances.The reduction in go...

by Staff Reporter

Zimbabwe to have own currency in 12 months

12 January 2019 | 4474 Views
Finance and Economic Development Minister Professor Mthuli Ncube yesterday said the country will have its own currency within the next 12 months, as Government is frantically working on raising enough...

by Staff Reporter

Zimbabweans not highly taxed - Zimra

27 December 2018 | 3055 Views
The Zimbabwe Revenue Authority (Zimra) says Zimbabweans are not highly taxed as claimed by some sections of society. Most of these taxes compare favourably with the rest of Sub-Saharan countri...

by Staff Reporter

Zimbabwe moving towards dollarisation - Economists

25 December 2018 | 15378 Views
Economists have warned government over the continued usage of bond notes as a medium of exchange saying the surrogate currency is at risk of facing rejection from the market.Government is adam...

by Daily News

MPs say 'Yes' to Mthuli Ncube's 2% tax

25 December 2018 | 2233 Views
The 2019 National Budget sailed through the National Assembly on Thursday with legislators adopting the two percent intermediated tax which was one of the contentious issues in the Finance Bill. Parli...

by Staff Reporter

IMF backs Mnangagwa's economic plan

16 December 2018 | 2480 Views
The International Monetary Fund (IMF) has been bowled over by President Emmerson Mnangagwa's current economic plan, which has already seen Treasury recording a budget surplus of over $29 million durin...

by The Sunday Mail

WATCH: Zimbabwe is the biggest buy in Africa, Mthuli Ncube tells CNN

06 December 2018 | 3733 Views
 “For the new #Zimbabwe, we are focused on economic revival for prosperity for Zimbabwe citizens and investors. #Zimbabwe assets are the biggest and best BUY in Africa, right now!”  ...

by Staff Reporter

Mthuli Ncube's TSP creditor positive and transformative for Zimbabwe economy - Moody's

04 December 2018 | 4934 Views
Moody's ranks Zimbabwe Finance Minister Mthuli Ncube's Transitional Stabilisation Programme (TSP) as creditor positive and transformative for Zimbabwe economy ...

by Agencies

More exemptions on Mthuli Ncube's 2% tax

28 November 2018 | 7459 Views
TREASURY has proposed further exemptions to the Intermediated Money Transfer Tax of two cents per dollar transacted following widespread stakeholder concerns and the need to ease cost of doing busines...

by Staff Reporter

Zimbabwe the 2019 budget speech

22 November 2018 | 4621 Views
Zimbabwe the 2019 budget speech...

by Staff Reporter

Excellent progress on Zimbabwe fiscal budget deficit reduction.

09 November 2018 | 4143 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 | 2323 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 | 6085 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 | 5385 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 | 3908 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 | 8316 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 | 7716 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 | 1977 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 | 5931 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 | 2255 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 | 3600 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 | 374 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 | 234 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 | 7611 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 | 5724 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 | 365 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 | 234 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 | 894 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 | 420 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 | 531 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 | 2467 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 | 457 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 | 858 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 | 780 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 | 147 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 | 1189 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 | 1358 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 | 3860 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 | 3062 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 | 837 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 | 382 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 | 1329 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 | 1404 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 | 1176 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 | 336 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 | 1000 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
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