By Eddie Cross I have made a habit of drawing up every day a list of the things I have to do in the immediate future. It helps me sort out the important as against the urgent and allows me to think through each item before I tackle them. When […]
Economy
Fiscal austerity threatens SA’s thriving black middle class
The heady years after apartheid gave rise to what advertisers and the press called “black diamonds”. Portrayals of newly rich black South Africans were often crass, highlighting their flashy cars and fancy homes that had been out of reach in the era of white rule. Many of the gaudiest examples […]
Mthuli’s desperate optimism sees growth in crisis-ridden economy
Zimbabwe’s Finance Minister Mthuli Ncube delivered an optimistic 2021 $426 billion worth national budget. The upcoming year’s budget under the theme: Building Resilience and Sustainable Economic Recovery, is meant to be a gateway for an economic revival in the struggling country. The budget allocated a sizable proportion of the funds towards […]
Pandemic boosts consumption of local products
Without a doubt, coronavirus pandemic has resulted into economic downturns which are being felt across sectors in Zimbabwe. It is also a driving force in the localization of value chains and the consumption of locally produced goods. Logistical interruptions due to the COVID-19 pandemic have significantly impacted the international distribution […]
Mbanje to overtake tobacco as Zimbabwe’s cash crop
Zimbabwe’s earnings from cannabis exports could outstrip those of tobacco by almost three times, according to local officials, reports Bloomberg. Last year, the southern African nation legalized cultivation of cannabis for medicinal use. Since announcing rules for growing cannabis in September, the government has issued 44 licenses Treasury spokesman Clive Mphambela […]
Mthuli Ncube goes all Trump on Biti with false claims about bank deposits under GNU
Finance Minister Mthuli Ncube falsely claims there were only US$40m bank deposits under GNU CLAIM: The banking sector had US$40 million deposits under the government of national unity. Source: ZiFM Stereo interview RATING: FALSE. Deposits in the banking sector, broadly defined, grew from US$475 million in April 2009 to nearly […]
Disclose Zim’s foreign debts, High Court orders Mthuli Ncube
The High Court has ordered Finance minister Mthuli Ncube to publish details of all loans and guarantees incurred by government from January 2017 to December 1, 2020 with the African Export–Import Bank (Afreximbank) and other international financiers. The ruling was handed down on Tuesday by Justice Happias Zhou after Harare […]
How Zambia can avoid the Mugabe model
Neighbours and creditors should resist its slide into autocracy and economic collapse A decade ago, as the rich world was struggling with the aftermath of the global financial crisis, much of Africa was surfing a wave of optimism. At the front was Zambia, which in the early 1990s was among […]
Looting frenzy in government’s command agriculture continues
By Tawanda Majoni When baboons raid the maize field in broad daylight, monkeys find a merry time in the orchard. The centre stops holding and things fall apart. This is what is exactly happening with Zimbabwe’s command agriculture. Here is that season when every hobo in town fancies him or […]
Tobacco farmers demand 100 per cent forex payments from RBZ
Zimbabwe’s tobacco farmers are demanding 100 per cent of United States dollar sales proceeds saying the low retention threshold has significantly impacted on their cash-flows. The Reserve Bank of Zimbabwe (RBZ) has maintained the 50 per cent foreign currency retention level for tobacco farmers, a portion which is paid directly […]