Business

As Zimbabwe’s parallel market reels under the strain of a currency crisis, central bank governor, John Mangudya, assures the public that this turmoil is merely passing. This grey market, operating outside formal banking channels, has experienced volatility for the past three weeks, causing ripples of uncertainty among businesses and individuals …

President Emmerson Mnangagwa has predicted Zimbabwe’s moribund economy will turn around this year following the recent discovery of oil and gas near the country’s border with Mozambique and Zambia and improvement in the country’s mining and tourism sectors. Economists are not as optimistic, as Zimbabweans continue to leave the country. …

Zimbabwe anticipates a 17,4 percent surge in electricity production this year, as the country seeks to reduce expensive imports and load shedding that negatively affected businesses and households in 2023. The optimistic outlook is based on the expected full incorporation of Hwange Thermal Power Station units 7 and 8, and …

THE GOVERNMENT’S decision to review the tobacco seedlings destruction deadline from December 31 to January 15 next year will give farmers sufficient time to complete planting their crop buoyed by the rains being received across the country, stakeholders have observed. This follows the Government’s recent issuance of a statement in …

By Staff ReporterZimbabwe’s Tsapo Group of Companies recently acquired a distributorship licence from India’s leading commercial vehicle manufacturing giant Ashok Leyland, Nhau/Indaba has established. The deal availed last week at Tsapo offices in Hatfield, Harare has been chided as an indicator of growing relations between India and Zimbabwe as Ashok …

Finance minister Mthuli Ncube announced a Z$59.5 trillion budget for 2024 on Thursday, raising the price of services and attempting to widen the tax base to shore up the government’s finances. The main opposition labelled his budget “anti-people” after he increased toll gate fees by 150 percent and also nearly …

The Zimbabwe dollar is slowly being rendered irrelevant in the market due to growing dollarisation, heightening fears the domestic unit might face complete rejection in the market by 2025 if no immediate action is taken to reverse the trend, a key industrial group says. The domestic currency is experiencing growing …

Business lobby group, the Zimbabwe National Chamber of Commerce (ZNCC) has urged government to destroy all illicit goods especially cigarettes on the spot in an effort to improve accountability and transparency and generate income from under-reported exports. This development coincides with the fact that organized crime syndicates comprising prominent politicians …

Brent crude futures increased by $1.69 to reach $91.59 a barrel at 03:47 GMT. US crude inventories were reduced by approximately 4.4 million barrels during the week ending 13 October 2023. Credit: drpepperscott230 from Pixabay. Crude oil prices have surged by 2% over concerns about potential disruptions to oil supply …

Top banker and entrepreneur Nigel Chanakira has challenged Zanu PF to ensure the removal of barriers for enterprising Zimbabweans willing to join the ruling party-dominated league of billionaires. Speaking at the just-ended CEO Roundtable in Victoria Falls, Chanakira questioned whether those from Zanu PF had preserved that status for themselves …