Business

CIVIL servants have accused the Public Service Commission (PSC) of plotting to take over Premier Service Medical Aid Society (PSMAS). The Zimbabwe Confederation of Public Service Trade Unions (ZCPSTU), an umbrella body for civil servants unions, yesterday claimed it had evidence that PSC was out to take control of the …

HARARE – The Reserve Bank of Zimbabwe (RBZ) on Wednesday banned MetBank from trading in foreign currency and suspended the bureau de change licence of Rolink Finance which was also fined US$120,000. MetBank is suspended from trading as an authorised dealer “pending a full investigation for breach of exchange control …

HARARE – InnBucks, a popular money transfer service owned by Simbisa Brands was on Wednesday ordered to cease operations by the Reserve Bank of Zimbabwe (RBZ) which accused the company of failing to comply with regulations. The central bank said InnBucks customers had a 30-day window to withdraw their money, …

PARENTS with children in private schools are set to pay more for the second term as some schools have pegged fees at around $1,2 million, adding that a top up may be required during the course of the term. The second term begins on Tuesday, May 3 and ends on …

A SHARP rise in mobile phone tariffs during the final three months of 2021 resulted in a decline in voice and data traffic, as the country battled soaring inflation triggered by the weakening of the domestic currency, a report by the telecoms regulator has shown.  Zimbabwe, which last year recovered …

ZIMBABWE opened the year 2022 with a trade deficit of US$88.1 million, 64% lower than the corresponding period last year, as the country continues its over-reliance on foreign-produced goods, latest trade data from the national statistics agency have shown. According to numbers released by the Zimbabwe National Statistics Agency (ZimStat) …

Is Zimbabwe a good investment destination for miners or not? It all depends on who you ask. Each year, Canada’s Fraser Institute asks over 2000 mining companies to assess which countries are best to invest in. The latest Investment Attractiveness Index, which has just been released, says Zimbabwe is the …

Zimbabwe’s  industries are in dire straits after the central bank failed to clear all outstanding foreign currency auction system allotments backlog by March, Business Times can report. The Reserve Bank of Zimbabwe (RBZ) has been struggling to effectively release the forex allotted to companies, resulting in a backlog of close to US$100m. The …

THE Zimbabwe Coalition on Debt and Development has challenged government to ensure the huge economic growth it reported recently corresponds with the welfare of the country’s citizens. Government claimed the economy grew by 7,8% last year despite growing poverty levels. Speaking to NewZimbabwe.com Business on the side-lines of the launch …

Zimbabwe will go for the Heavily Indebted Poor Countries (HIPC) Initiative or use own resources and bridging finance as it moves to clear external arrears, the International Monetary Fund (IMF) has said. The IMF says Zimbabwe is faced with high public and publicly guaranteed external debt burden indicators and external …