Truworths, once a high-end clothing retailer with over 100 branches across Zimbabwe, is being sold for just one dollar after going insolvent. The company's downfall reflects the deep crisis in Zimbabwe’s retail sector—one that has been decades...
By Ray Ndlovu
Zimbabwe’s bullion-backed currency is missing out on an impressive gold rally, because of a liquidity squeeze that’s choking the economy and difficulties in exchanging the unit for dollars.
Zimbabwe’s state miner is planning a fresh bid to kick-start a range of projects a year after the government took full control of the company.
Kuvimba Mining House, under new Chief Executive Officer Trevor...
The opening of SPAR’s latest outlet at Greenfield, a new shopping complex in Harare, was rare good news for Zimbabwe’s struggling retail sector. But, it also showed the mounting cost of doing business in retail.
Presenting his monetary policy statement last Thursday, central bank governor John Mushayavanhu displayed one talent that seems to be a requirement for Zimbabwean reserve bank governors – denial.
He had a clear explanation for...
President Emmerson Mnangagwa says South Africa is being punished for pursuing its national interests, drawing parallels with Zimbabwe’s own long-standing tensions with Washington.
On Friday, US President Donald Trump signed an executive order cutting...
The Reserve Bank is taking more forex from exporters and lifting some currency restrictions under new measures announced by Governor John Mushayavanhu.
Exporters will now be paid 70% of their earnings in US dollars,...
Zimbabwe must be ready for the bitter medicine of higher taxes and spending cuts if it takes up a staff-monitored programme (SMP) with the IMF, the World Bank warns in a new report.
Under...
The conflict in the Democratic Republic of the Congo (DRC) is once again in the global spotlight after Rwanda-backed M23 rebels claimed control of the eastern city of Goma.
Heavy fighting between the Congolese armed forces...
South African President Cyril Ramaphosa has accused M23 rebels and Rwanda of escalating the conflict in the DRC, following the deaths of 13 South African peacekeepers.
“This violence stems from an escalation by the...
