Economy

Economy

ZCTU secretary general Japhet Moyo

Mnangagwa following an anti-labour policy to please capital – ZCTU

By Alois Vinga LABOUR federation the Zimbabwe Congress of Trade Unions (ZCTU), has accused President Emmerson Mnangagwa’s administration of following a policy of “workers’ isolation.” ZCTU secretary general, Japhet Moyo in a wide-ranging interview with NewZimbabwe.com Thursday, accused Mnangagwa of following his predecessor former President Robert Mugabe’s “anti-workers” stance that is exclusive to capital. “What

Finance Permanent secretary George Guvamatanga

Gvt denies Zim economy is fragile, argues transition in motion

By Alois Vinga FINANCE Secretary, George Guvamatanga has maintained that Zimbabwe’s economy cannot be described as fragile because of the ongoing implementation of a raft of measures to resuscitate the economy. Guavamatanga told journalists at the African Economic Research Consortium (AERC) senior policy Seminar in Harare, Thursday, hat the embattled Southern African nation’s economy is

Whats in a name? All you need to know about Zim’s new currency

Fin24 Late in February, Zimbabwe introduced a new currency called the RTGS, or real-time gross settlement dollar, in the process abandoning its long held 1:1 parity between the US dollar and its local transactional instrument – the bond note. “We have introduced the RTGS dollar. Citizens have to accept the introduction of the RTGS dollar.

Finance Minister Mthuli Ncube has finally admitted the Bond Note is official currency

Prof Ncube comes clean on Zim currency-RTGS dollar is official currency

By Robert Tapfumaneyi THE local surrogate currency formally known as Bond Note and recently christened the RTGS dollar is legal tender whether citizens like it or not, Finance Minister Mthuli Ncube said Thursday. Ncube was speaking at the inaugural Youth Indaba, organised by Ministry of Youth and attended by hundreds of youths from all the

SA and Zim Presidents Cyril Ramaphosa and Emmerson Mnangagwa

No financial assistance to Zimbabwe for now, says Ramaphosa

Business Live PRESIDENT Cyril Ramaphosa says his government will not provide any immediate financial support to Zimbabwe as discussions on the matter are still ongoing. The move comes as a blow to Zimbabwean President Emmerson Mnangagwa’s administration, which had been counting on its neighbour to provide financial support to boost its faltering economy. The cash-strapped

President Cyril Ramaphosa

Get rid of barriers to investment- Ramaphosa tells ED

By Richard Chidza/Idah Mhetu VISITING South African President Cyril Ramaphosa has wasted no time and not minced his words telling his Zimbabwean counterpart President Emmerson Mnangagwa to “get rid of barriers to investment.” Mnangagwa who came to power on the back of a military coup in November 2017 that brought to a dramatic end former

Finance Minister Mthuli Ncube

Free duty car imports for civil servants

By Alois Vinga FINANCE Minister, Mthuli Ncube has given civil servants the greenlight to import vehicles without paying duty in a move aimed at placating distressed government workers. Statutory Instrument 52 of 2019 released Friday indicates that the directive is with effect from January 2019 and will see senior civil servants importing vehicles or taking

WorldRemit Zimbabwe Country Director Pardon Mujakachi

World Remit cash inflows into Zimbabwe grow by 150 percent

By Alois Vinga ONLINE money transfer entity, WorldRemit says its cash inflows into Zimbabwe from various countries across the globe grew by almost 150 percent in a development signifying that the brand is gaining a considerable market share in the cash transmission sector. In an interview with NewZimbabwe.com Business, Thursday, WorldRemit country director for Zimbabwe,

Finance Ministry Permanent Secretary George Guvamatanga

Finance Secretary, Guvamatanga grilled over fuel hike refund

By Alois Vinga ENERGY parliamentary portfolio committee chairperson, Simbaneuta Mudarikwa has expressed concern over the failure by several businesses to access refund for extra costs they incurred as a result of fuel price increases effected early this year. Mudarikwa, the Zanu PF lawmaker for Uzumba, quizzed Finance Ministry Secretary, George Guvamatanga when he appeared before

Finance Minister Mthuli Ncube

Zimbabwe to scrap platinum and diamond mine ownership rules

Bloomberg News Zimbabwean Finance Minister Mthuli Ncube said a rule requiring local investors to control platinum mines will be scrapped and foreigners will be allowed to own 100% in a bid to revive investment. “We are removing that indigenisation rule, which is discouraging foreign direct investment,” Ncube said in an interview with Bloomberg Television in

South Africa’s rand weakens

Africa News The South African rand weakened early on Friday after breaching the crucial 14.00 to the dollar mark following a selloff in emerging market currencies. Escalating tensions between India and Pakistan, the breakup of the U.S.-North Korea summit without a deal and fading optimism over a U.S.-China trade deal had all put the rand

Zimbabwe devaluation sees return of market sense, but only some

Bloomberg Zimbabwe’s currency devaluation last week has led to a more realistic exchange rate, yet thin trading implies the new official interbank market isn’t as free as officials suggested. The central bank announced on February 20 that its quasi-currencies – bond notes and their electronic equivalent – would no longer be valued at parity to

Botswana President Mokgweetsi Masisi

Botswana to extend US$95m credit facility to Zimbabwe

By Alois Vinga BOTSWANA President Mokgweetsi Masisi confirmed Thursday that his government will extend a One billion Pula (US$95m) credit facility to Zimbabwe. The deal was part of some six agreements reached during the inaugural session of the Zimbabwe Botswana Bi-National commission. Briefing the media on financial aspects of the agreements made with Zimbabwe at