Exporters are holding on to more than US$1 billion, amid biting foreign currency shortages in the country, Finance Ministry permanent secretary George Guvamatanga revealed on Tuesday, but government hopes the central bank’s intervention on the forex market...
President Emmerson Mnangagwa rarely misses an opportunity to assure business that policy vagueness and inconsistency, the bane of the Mugabe years, is now a thing of the past. “My government will continue to ensure...
Finance Minister Mthuli Ncube’s statement to Parliament on Wednesday was short on details of how government intends to tackle the multiple crises buffeting the economy. He, however, presented new budget and GDP figures, following...
White former farmers dispossessed under the Zimbabwe government’s land redistribution would accept land instead of cash as compensation for their loss, a senior Commercial Farmers Union (CFU) official has said. About 4,000 farmers were...
When the fuel crisis escalated last January, President Emmerson Mnangagwa was forced to announce a 150% price increase. Amid the outrage and riots which followed, one important detail went largely unnoticed: about 70% of...
Delta Corporation recorded declines across its beverage lines, with soft drinks being the hardest hit, in a turbulent final quarter of its 2019 financial year. The company has struggled to source foreign currency for...
China’s Union Pay International on Wednesday added Steward Bank to its network of partners, expanding its footprint in Zimbabwe, where it has already signed up two other financial institutions. The use of international cards...
Not too long ago, three months ago in fact, fuel in Zimbabwe was cheaper than bottled water and flights from the country were some of the cheapest around. This was thanks to a fixed...
The International Monetary Fund (IMF) says it has reached an agreement with Zimbabwe on a second staff monitored programme (SMP), as the country undertakes sweeping economic reforms. The agreement to embark on a new...
Zimbabwe’s currency reforms have not gone far enough and complete liberalization is needed to end a critical shortage of foreign exchange that is hampering business, senior executives from the nation’s mining industry said. Zimbabwe...
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