Government must urgently end its exchange rate fiction and implement currency reforms to avert imminent economic implosion, leading asset manager Imara has said in a searing note to investors. Imara says President Emmerson Mnangagwa’s...
The production of gold, Zimbabwe’s top export, collapsed 59% percent September and November, mirroring a foreign currency crisis that has hit the country’s major mines and could deter new investment into the industry. With cumulative output just shy of 32...
Zimbabwe has lost 50 000 cattle over the past year because it does not have foreign currency to import vaccines and dip chemicals, whose demand has grown as rising temperatures breed more disease. More cattle are likely to die in...
As Zimbabwe’s farmers head to the fields to plant, the country is facing yet another dry growing season, meteorologists predict. But that has not persuaded Sikhathele Sibanda to grow something besides thirsty maize, despite government urging. Drought-hardy grains such as sorghum...
It is a literal portrayal of how Zimbabwe's foreign currency shortages are keeping investors away. Brokers on the Zimbabwe Stock Exchange (ZSE) are failing to access the market’s automated trading platform after the software supplier withdrew support services due to...
EACH time Tendai Biti gets up to address an MDC Alliance rally, he is greeted with ‘USA! USA!’ chants. This adulation is not for America, but its coveted currency. Biti, Zimbabwe’s finance minister between February 2009 and June 2013,...
OK Zimbabwe, the country’s largest supermarket group, believes the market turmoil precipitated by recent government policies is temporary. The chain is one of the biggest victims of the upheaval caused by the authorities’ October 1 decision to separate foreign currency...
Delta Corporation says it owes foreign suppliers US$41 million, as surging demand continues to exert pressure on its forex needs. Delta’s products, especially carbonated soft drinks, have been in short supply and the situation worsened at the beginning of October...
ZIMBABWE’S economy is, once again, in turmoil. Unrestrained government expenditure has rekindled inflationary flames, the country’s huge import bill continues to exert pressure on limited foreign currency earnings and the dollarisation project has long unravelled. A raft of government subsidies...
THE Confederation of Zimbabwe Industries (CZI), the country’s main business representative body, has come out in support of government’s 2% tax on electronic payments after initially opposing the unpopular revenue measure. The tax, announced by Finance Minister Mthuli Ncube on...
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