Business

The RBZ’s monetary policy statement from a couple of months ago revealed that agent lines are banned because they no longer serve a purpose. This announcement wasn’t a surprise to many because it looked unlikely that agent lines would be restored. After the suspension of Agent lines, many who used …

Touts operating outside the Bulawayo Passport Offices are allegedly cashing in on desperate travel document seekers as they claim to be working with registry officials to facilitate processing of passports. If stories being told by the touts are true, then there could be massive corruption playing out at the passport …

Cotton ginners are struggling to pay farmers for cotton deliveries made in the 2019/2020 season and have appealed to the Government for a $4 billion bailout to clear the arrears. While the Government set the buying price of US$1,30 per kg, which was met with jubilation by the local farmers, …

US$500 For Dead Civil Servants: Desperation Or Genuine Concern?“Starting immediately, government will pay an equivalent US$500 in funeral assistance for any civil servant who passes on. This is regardless of any funeral policy the member may have. The money is paid to a surviving spouse, adult children or agreed dependent,” …

The Zimbabwe dollar on Tuesday depreciated against the United States dollar for the first time in a month after the conduction of the Reserve Bank of Zimbabwe’s (RBZ) foreign currency auction exchange rate. The rate settled at 81.3499, a slight decrease from last week’s settlement at 81.3458. Tuesday’s allocated amount …

Zimbabwe will be aiming to attract global capital mostly from the mining sector when the Victoria Falls Stock Exchange comes into operation this week, Finance and Economic Development Minister Professor Mthuli Ncube said last Friday. Minister Ncube revealed this while presenting the pre-budget strategy paper, themed “Building Resilience and Post …

FALLEN asbestos producing giant, Shabanie Mashava Mines Holdings (SMM Holdings) has entered into an agreement to shed off its 43.22 % stake in rubber and chemicals producer, General Beltings Holdings Limited (GB).SMM, formerly owned by South Africa based Zimbabwe businessman Mutumwa Mawere, has since reported plans to dispose of land …

The modest reduction in Zimbabwe’s gross domestic product this year of minus 4,5 percent due to Covid-19, will be counterbalanced by growth of 7,5 percent next year as the Zimbabwean and global economies cope with the pandemic, the Treasury has predicted. “In 2021, the economy is predicted to recover from …

The creation of illegal urban settlements by land barons is now a thing of the past, with the Second Republic spearheading the construction of modern houses in line with Vision 2030 as pronounced by President Mnangagwa, Vice President Kembo Mohadi said yesterday. Speaking during belated World Habitat Day commemorations held …

The Reserve Bank of Zimbabwe has dismissed social media reports that banks are opening new accounts referred to as “local USD RTGS transactions”, describing the reports as “false and misleading”, basically because there were already systems in place for both local and foreign payments in US dollars. The bank noted …