Finance Minister Mthuli Ncube had planned to sell all or part of 35 state enterprises by December this year. But, almost two years after he announced his plan, many of the transactions are still stalled at the starting line because...
Cement maker Pretoria Portland Cement (PPC) Zimbabwe says it has secured a partner to build and operate a 32MW solar park to power up two of its plants. The photovoltaic (PV) project will be sited at PPC’s clinker factory in...
The government spent Z$480 million on the Zupco and roller meal subsidies in the first four months of 2020, but still managed to balance its budget over the period, Treasury data shows. Government also spent a cumulative Z$942 million on...
The Monetary Policy Committee (MPC) has raised the main policy rate from 15% to 35% and introduced new short term bonds, in a fresh bid to curb rising inflation. However, rates remain negative, relative to annual inflation of 785.55% in...
The COVID-19 pandemic will drive sub Saharan Africa into its first recession in 25 years, a World Bank paper says, but the region’s ‘copycat’ responses, which include lockdowns as well as some monetary and fiscal measures are...
Zimplats says its operations remain largely uninterrupted despite the COVID-19 enforced lockdowns in Zimbabwe and South Africa, where the company’s refiner, Impala, has issued a force majeure declaration. President Emmerson Mnangagwa ordered a 21-day...
Zimbabweans will once again be able to use US dollars to pay for goods and services, the RBZ announced on Thursday, nine months after the government banned the use of foreign currencies for most local transactions.
Zimbabwe will adopt a “managed float” exchange rate regime, Finance Minister Mthuli Ncube said on Wednesday, abandoning strict control of foreign exchange by the central bank in the latest in a series of currency reforms that have...
Reserve Bank of Zimbabwe governor John Mangudya on Monday defended the central bank’s interest rate policy against charges that negative rates were fuelling exchange rate instability and inflation. The central bank on Monday maintained...
The Reserve Bank of Zimbabwe (RBZ) has processed claims for foreign currency-denominated legacy debt worth US$1.2bn, rejecting dodgy requests worth US$861 million, governor John Mangudya revealed on Monday. After ending dollarisation last year,...
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