Business

VARIOUS stakeholders and experts roundly condemned economic stabilisation measures introduced by President Emmerson Mnangagwa to “stop economic hitmen” from sabotaging his under-fire administration. They said the measures, mainly the banning of lending by banks, were unconstitutional, inadequate, and ill-advised. Experts also said the measures would result in a serious economic …

LOW pensions payouts by both private and public sectors to workers has forced many to shun retirement. Some workers have reportedly gone to the extent of misrepresenting their dates of birth to postpone retirement from the organisations they would have served. 360p geselecteerd als afspeelkwaliteit What makes it worse is that the ongoing …

Zimbabwe’s freeze on bank lending is a temporary measure which is meant to contain inflation and stabilise its economy, central bank governor John Mangudya told state television on Tuesday. President Emmerson Mnangagwa on Saturday ordered the suspension with immediate effect, saying the move was meant to stop speculation against the …

ZIMBABWE will most likely miss its 5,5% gross domestic product (GDP) forecast due to prolonged hyper-inflationary conditions as the country’s local currency continues to tumble against the United States dollar. In its April 2022 economic review, the Zimbabwe Coalition on Debt and Development (Zimcodd) said government had projected a 5,5% …

JOHANNESBURG, South Africa – Robert Mugabe may be long gone, but Zimbabwe’s monetary madness lives on. With annual inflation nearing triple digits, Harare’s financial mandarins are trying to shore up confidence in the US$32 billion economy by banning bank lending. As with the other blunt policy tools it has deployed, …

Padenga expects to double gold output in 2022, backed by a US$29 million investment to start underground mining at Pickstone Mine and production from the newly reopened Eureka Mine. Eureka, which returned to production last year after being shut down for 20 years, poured its first gold in July and …

President Emmerson Mnangagwa recently announced a raft of measures that he says are necessary to stabilize the exchange rate. Flanked by Finance Minister Mthuli Ncube and RBZ governor John Mangudya, Mnangagwa said “strong fundamentals” such as forex inflows show that the “recent exchange rate depreciation is driven by factors outside …

On May 7, Zimbabwe’s government came up with new measures to stabilise and bring confidence to the economy. It identified the fast-depreciating currency as the source of the recent increase in inflation, which was 15.5 percent month-on-month. Do the new policies measure up? The most far-reaching new measure is the …

The Environmental Management Agency (Ema) says Harare City Council (HCC) is spending at least US$3 million per month in treating water polluted by sewage effluence disposed into rivers. An estimated 383 mega litres (ML) of raw and partially treated sewage is discharged daily into the environment, according to a report …

GOVERNMENT’S knee-jerk reaction to the on-going economic implosion will not address the country’s economic woes, the Zimbabwe National Chamber of Commerce (ZNCC) has said. Zimbabwe is battling rising inflation which according to independent researchers is now second highest on the continent. Official statistics show that Zimbabwe’s year-on-year inflation for April …