Big Zimbabwe companies, shops close…as situation gets worse..Edgars, Spar
More companies continued to temporarily shut down today as they feel the heat of the market forces which have seen a sharp rise of prices for basic stuffs. In other instances companies that sell raw materials are only demanding the scarce green buck scaring away retailers. Most of these reputable firms as Edgars and Spar […]
Zimbabwe’s Budget Deficit Soars After Pre-election Splurge
HARARE (Reuters) – Zimbabwe’s budget deficit swelled to $1.3 billion in the first half of 2018, nearly five times the initial target after government spending spiraled ahead of an election in July, a Treasury document showed on Thursday. Before a tight election on July 31, President Emmerson Mnangagwa’s government distributed free seed and fertilizer to […]
African Development Bank Boosts Jobs for Youth in Africa Strategy with close to $2 Million
ABIDJAN, Ivory Coast — The African Development Bank’s www.AfDB.org Fund for African Private Sector Assistance (FAPA) (http://bit.ly/2xAJfTU), has provided funds totaling nearly US $2 million to its Jobs for Youth in Africa initiative. FAPA, of which the Government of Japan is a major donor, along with the Austrian Government and the African Development Bank, will […]
Inside the rot: The costly public service absurdities crying for urgent, serious decisions
WHEN a team from the Public Service Commission turned up at Mbiriyadi Primary School in Nyanga for a staff audit and headcount three years ago, the head handed them attendance registers. Hawk-eyed officials quickly spotted an anomaly. Names of pupils were repeated in several grades, creating ghost pupils that raised the pupil enrolment to 240, […]
The Great Bank Robbery: How the Zimbabwe government stole from its people
There is a scene in the 1978 classic movie, The Great Train Robbery, which portrays the destructive arrogance of Zimbabwe’s monetary policy over the past two decades. After masterminding a gold heist, Edward Pierce, played by Sean Connery, is dragged before a stern judge. “Now, on the matter of motive, we ask you: Why did […]
Zanu-PF government spending shock: where did the billions go?
IN his first address as president last November, Emmerson Mnangagwa promised to focus on economic recovery and to “shed misbehaviours and acts of indiscipline which have characterised the past.” But, faced with a tough battle to secure a fresh mandate after completing ousted President Robert Mugabe’s term, Mnangagwa abandoned his austerity pledge and resorted to […]
Zanu-PF probes shortages of basic commodities
Zanu-PF is concerned with the unjustified hiking of prices of basic commodities and the shortage of certain goods being experienced in the country, which the party expects to end soon as Government is dealing with the situation. Speaking during an inter-district meeting in Bindura on Saturday, Zanu-PF national political commissar Cde Engelbert Rugeje said the […]
US Dollars And Bond Notes/RTGS Are No Longer The Same
The major highlight of today’s monetary policy statement was the directive that banks must now separate the Nostro foreign accounts and local RTGS or Bond with effect from 15 October 2018. advertisement What it means This means that officially Zimbabwe has two currencies, that’s US dollars and RTGS/Bond. Consequently, banks will allow depositors to hold […]
Botswana says China agreed to extend loan, cancel debt
China has agreed to extend a loan to Botswana for rail and road infrastructure as well as writing off some debt, Botswana’s President Mokgweetsi Masisi said on Saturday. Speaking at the airport on his return from this week’s China-Africa forum in Beijing, Masisi said Botswana had made a pitch to China and “I am happy […]
The Latest Hip African Coffee? Nespresso Says It’s Zimbabwe Brew
As single-origin beans from nations like Ethiopia and Kenya gain in popularity, Nespresso is poised to add Zimbabwe to the list of trendy African coffees. The unit of Nestle SA plans to start selling limited-edition Zimbabwe capsules in May in 15 countries including the U.S. and the U.K., according to Chief Executive Officer Jean-Marc Duvoisin. […]
