By Taurai Mangudhla The Reserve Bank of Zimbabwe (RBZ)’s new Monetary Policy Committee (MPC) hit the ground running on March 26, announcing a raft of policy measures to sustain the fragile stability that has seen inflation falling and the exchange rate holding firm since June last year. It set the […]
Zimbabwe and Russia’s Rosatom Corp. signed a memorandum of understanding to explore nuclear generation as the African nation seeks to cut its reliance on hydroelectric power. “The anticipated co-operation in the use of nuclear energy for peaceful purposes will provide alternative sources of energy which Zimbabwe needs,” Information Minister Monica […]
Zimbabwean Finance Minister Mthuli Ncube began a global roadshow to win over investors and highlight policy changes in the nation’s economy. Ncube met officials from South African fund manager Allan Gray Ltd. on Wednesday, according to a post on his Twitter account. “The objective of the pitch is to position […]
Tobacco merchants and contractors have established a cartel which is conniving on tobacco prices on the market and the manipulated system has allowed them to dictate prices, it emerged this week. The tobacco marketing season kicked off this week. According to an investigation by Business Times, the cartel with the help of […]
French energy major Total has withdrawn all its staff from its Afungi natural gas project site in northern Mozambique, two sources with direct knowledge of the site’s operations told Reuters, as clashes between Islamic State-linked insurgents and the Mozambican army continue. Total, which last week called off the planned resumption […]
That’s after the political instability, economic stagnation and two bouts of spiraling prices over the past two decades. Now inflation is slowing rapidly — albeit it’s still 322% — and the government expects the economy to expand 7.4% this year, rebounding from a 4.1% contraction. The country also got a step up on its African peers by starting […]
The Reserve Bank of Zimbabwe (RBZ) has forecast annual inflation to plummet to less than 10% this year, driven by a good agricultural season, fiscal and financial sector stability. Zimbabwe has received goods rains this year, which are expected to fire up exports and foreign currency earnings. In December 2020, […]
The Financial Intelligence Unit (FIU) — an arm of the Reserve Bank of Zimbabwe (RBZ) — has opened a fresh investigation into firms and individuals who are using shelf companies to siphon money from the foreign exchange auction and channelling it to the black market. The apex bank is working […]
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 […]
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 […]