Economy

Economy

NMB moved to support export sector

NMB to unveil US$20 million export loan facility

By Alois Vinga PREMIER financial institution, the National Merchant Bank (NMB) is set to extend a US$20 million export loan facility to support local companies penetrate foreign markets and bolster foreign currency generation. Speaking to NewZimbabwe.com Business, Wednesday NMB chief executive, Ben Washaya said the facility will soon be launched and offered to export oriented

Finance Minister Mthuli Ncube will be keynote guest at Buy Zimbabwe's 4th annual indaba

Buy Zimbabwe in ambitious ‘Buy Local’ campaign

By Leopold Munhende BUY Zimbabwe Campaign’s 4th Public Procurement Conference previously scheduled for the Andy Miller Hall has been moved to the bigger and more spacious Rainbow Towers as the organisation makes ambitious moves to encourage greater uptake of locally produced products. The conference which was initially slated for April 30 will now be hosted

Zimbabwe is losing a lot of foreign currency through fertiliser imports despite local capacity

Fertiliser manufacturers to engage RBZ over foreign currency support

By Alois Vinga GOVERNMENT has been called upon to channel foreign currency towards the manufacturer of fertlisers in order to preserve jobs and prevent damage to soil by imported chemicals. This came out in a statement issued by the Zimbabwe Fertiliser Manufacturers Association (ZFMA), which is now compiling a draft paper which will be tabled

Ugandan strongman Yoweri Museveni is set to officially open this year's Trade Fair

Zimbabwe International Trade Fair roars into life

By Bulawayo Correspondent THE 60th edition of the Zimbabwe International Trade Fair (ZITF) kicked off in Bulawayo on Tuesday, with Belarus making its maiden participation while the United States of America (USA) is also exhibiting after a three year hiatus. Belarus‘s participation at the trade fair follows President Emmerson Mnangagwa’s recent visit to the East

Minister Mthuli Ncube

2 % tax injects RTGS$284 million into govt coffers first quarter 2019

By Alois Vinga THE 2 percent tax introduced on electronic transactions October last year has generated RTGS$284 million for government in the first three months of 2019, a Zimbabwe Revenue Authority performance report has revealed. According to report for the first quarter ended March 31, ZIMRA collected $282,843,450.27 surpassing the initially set target of $150

Inflation nightmare returns to haunt Zimbabwe

AFP The price of bread almost doubled for Zimbabweans last week, as the inflation nightmare that marked the rule of long-time authoritarian leader Robert Mugabe returns to haunt his successor Emmerson Mnangagwa. There have been warnings of the mental and physical toll the rampant price increases will have on Zimbabweans after the cost of a

CZI president Sifelani Jabangwe

Be realistic: business tells ED, scoffs at President’s “inhumane” comments

By Alois Vinga GOVERNMENT needs to be realistic about the economic situation in the country, captains of industry have said. They were reacting to statements made by President Emmerson Mnangagwa in his keynote speech at celebrations to mark the country 39th Independence anniversary. An angry Mnangagwa described recent price increases of basic commodities as “inhumane

File Pic: Zimbabwe has lost another 200 000 cattle to tick borne diseases this year

Government moves to curb livestock diseases as 200 000 cattle die

By Alois Vinga AT least 200 000 cattle, have been lost to the tick borne diseases but government is working to stop the spread of problem, President Emmerson Mnangagwa has said. Mnangagwa told thousands of people who braved the rains to attend the country’s 39th Independence celebrations in Harare, that the move by government will

President Emmerson Mnangagwa has warned business against inhumane price hikes

ED: Price hikes alarm government, business slammed

By Anna Chibamu GOVERNMENT has been shocked by the rate at which industry is increasing prices of basic commodities, with the latest being the 50 percent hike by bread makers, President Emmerson Mnangagwa has said. In his speech at celebrations to mark the country’s 39th Independence anniversary, Mnangagwa said the increases were inhumane. “Government is

Finance Minister Mthuli Ncube is expected to be guest of honour at the 4th Buy Zimbabwe annual indaba

Buy Zimbabwe to host public procurement conference

By Staff Reporter  IN an effort to raise awareness among decision makers and procurement entities Buy Zimbabwe will late this month host a Public Procurement Conference. The lobby group, in a statement Tuesday said the conference is aimed at raising consciousness among business leaders and stakeholders on the benefits of buying local products. Buy Zimbabwe

President Emmerson Mnangagwa has sought to project himself as a reformer

World Bank  to ED: Speed up ease of doing business reforms

By Alois Vinga GLOBAL multilateral lender the World Bank’s (WB) has called on President Emmerson Mnangagwa’s government to hasten economic reforms. WB technical expert, Sveltlana Bagaudinova said if the reforms are expedited this could help in attracting “foreign direct investment.” Bagaudinova told newzimbabwe.com business, on Monday that while the willingness is apparent the pace has

Finance Minister Mthuli Ncube

Zim’s 2018 revenue targets surpassed by US$1 billion

By Alois Vinga ZIMBABWE surpassed its revenue collections targets for the year 2018 by US$1.18 billion, a 2018 fourth quarter report released by the Finance Ministry has revealed. The report observes that the policies aimed at widening the tax revenue base in the final quarter contributed to the surplus earned. “Revenue collections during the fourth

Finance Minister Mthuli Ncube is fronting President Emmerson Mnangagwa's reform effort

IMF: Zim’s foreign exchange distortions severely affecting the economy

By Alois Vinga ZIMBABWE’s current foreign currency distortions are severely affecting the smooth running of the economy, an (IMF) delegation that has been visiting the country has concluded. The delegation’s head, Gene Leon said foreign currency exchange rates coupled with natural disasters like the recent Cyclone Idai, have a negative bearing on the economy. “Zimbabwe

Environment and Tourism Minister Priscah Mupfumira addressing the Indaba Thursday

Zim hosts regional conservation indaba

By Staff Reporter ENVIRONMENT and Tourism Minister, Priscah Mupfumira is leading a delegation from Zimbabwe that is attending the Kavhango-Zambezi Transfrontier Conservation Area (KAZA- TFCA) meeting underway in the resort town of Victoria Falls. The meeting according to officials is being attended by Ministers from KAZA partner countries, Botswana, Zambia, Angola, Namibia and Zimbabwe. “The

Mines Minister Winston Chitando

China relations led Zimbabwe to allow Anjin back into gem mining

Bloomberg Anjin Investments Ltd. was last month allowed to resume diamond mining in Zimbabwe as the African country moved to improve relations with China, according to a senior government official. Zimbabwe has signed cooperation agreements with China spanning infrastructure and agriculture, Polite Kambamura, the deputy mines minister, said in an interview in Johannesburg on Wednesday.