National Railways of Zimbabwe plans to lay off 2 000 workers to maintain a manageable workforce
National Railways of Zimbabwe (NRZ) is set to retrench nearly 50% of its workforce in a move board chairman Larry Mavhima said was aimed at stopping the bleeding at the parastatal. Mavhima said the job cuts would allow the stricken parastatal to maintain a manageable workforce for operational efficiencies. “We are looking at our current […]
Activist takes dig at First Lady Grace Mugabe in song
KWEKWE human rights defender Emmanuel Nkosilathi Moyo has released a debut single song, Musadherere Povo, which allegedly takes a jibe at First Lady Grace Mugabe for suggesting that even if President Robert Mugabe, dies his corpse will win elections. Grace told a Zanu PF rally in Buhera last month that even if Mugabe were to […]
Zimbabwe ‘funny money’ bond notes now a collector’s item on eBay
HANG your heads in shame, all you haters that have mocked Zimbabwe’s bond note and doubted its value. Not only has the bond note maintained its value, against all expectations, it is now more valuable than the US dollar. Well, at least on eBay, the online auction site. For up to US$7, you can now […]
Zimbabwe’s nonagenarian leader Mugabe officially picks former govenor Gideon Gono for President
President Robert Mugabe has reportedly cherry-picked, former Reserve Bank of Zimbabwe (RBZ) governor, Gideon Gono, for president and to become his successor of choice in an aftermath Zanu PF expected to lose elections next year, bringing to an end the speculation around the veteran politician’s anointed secret protégé, Spotlight Zimbabwe, has exclusively reveal today. Although […]
President Robert Mugabe has hinted that he would prefer rand as currency
President Robert Mugabe has hinted that he would prefer the adoption of the rand in Zimbabwe despite the reluctance to adopt the currency from his government. Mugabe, who turned 93 on Tuesday, said in a televised interview to mark his birthday that he had asked Finance Minister Patrick Chinamasa and central bank governor John Mangudya […]
Reserve Bank of Zimbabwe Governor John Mangudya’s Roadmap Faces Hurdles
Economic measures put in place by Reserve Bank of Zimbabwe (RBZ) governor John Mangudya to drive economic growth will come to nothing in the absence of structural reforms, analysts have warned. In his monetary policy statement released last week, Mangudya announced a raft of measures that included, among others, the extension of the $200 million […]
Has Mugabe Switched On The Money Printing Machine?
The introduction of a new 5-dollar bond note reminds Zimbabweans of the last time they had a currency of their own, whose biggest denomination was a U.S.$100 trillion note that wasn’t enough to buy a loaf of bread. Many ordinary people fear the bond notes may lose value if President Robert Mugabe’s government prints more. […]
‘President Robert Mugabe Renting U.S. $500,000 Dubai Villa’
THE legal dispute over the botched purchase of a US$1,35 million diamond ring between the First Lady Grace Mugabe and Lebanese businessman Jamal Ahmed, has opened a can of worms amid revelations that the Mugabes are paying up to US$500 000 annually in rentals for an upmarket villa in Emirates Hills, Dubai. The rentals translate […]
President Robert Mugabe is holidaying abroad while major hospitals left with two weeks’ supply of essential drugs
THE Zimbabwe Medical association (ZIMA) says information from pharmaceutical wholesalers indicates an impending serious shortage of essential drugs due to delayed remittance of international payments by the central bank. According to the association, drugs affected include those for chronic diseases such as diabetes (insulin), cancer drugs (chemotherapy), psychiatric drugs (anti-psychotic) and theatre drugs (anaesthetics). With […]
Robert Mugabe Uses Presidential Powers to Legalise Bond Notes
President Mugabe has gazetted Statutory Instrument 133 of 2016, which provides a legal framework for the introduction of bond notes as acceptable legal tender in Zimbabwe. SI 133 of 2016, Presidential Powers (Temporary Measures) Amendment of the Reserve Bank of Zimbabwe Act, empowers the central bank to issue out bond notes using its preferred design, […]
