Articles tagged 'economy'

Tackle root cause, not symptoms 14 November 2017 HARARE - Zimbabwe's celebrated music superstar, Oliver Mtukudzi, has a popular song titled Handiro Dambudziko, which has lyrics that go — Kushingirira kurapa mhopo pamusana...mhopo iripamusana iwe uneziso rinembonje. Translated to English, this means putting much effort in curing the symptom b...
Stop fighting, create jobs 13 November 2017 EDITOR — We know and appreciate that our economy is on its knees but I am sure our government can  find ways to ensure that every Zimbabwean citizen especially our youths are fully empowered as we face many challenges everyday in order to survive and fend for the families. Because of our econo...
Students vow to confront Mugabe 12 November 2017 HARARE - Tertiary students — represented by the Zimbabwe National Students Union (Zinasu) — have vowed to confront President Robert Mugabe over their deplorable welfare at the Zanu PF interface rally to be held in the capital next week. If denied to speak at the event, Zinasu said they will pe...
'Economy remains Zanu PF's greatest opposition' 10 November 2017 HARARE - Residents of Mbare hostels have jerked up the Harare City Council (HCC) after they ran a staggering $500 000 electricity bill in one month — prompting the local authority to revive plans to introduce pre-paid meters — months after the same community had rejected them. The hostels whic...
Zim woes beyond price controls, priority lists 10 November 2017 HARARE - To anyone who has a basic understanding of economics, the wave of price hikes witnessed in recent weeks was nothing but the wake of market forces. The market — manufacturers and retailers, among other economic players — was merely responding to circumstances on the ground. But it s...
Fights will not solve Zim economic woes 9 November 2017 HARARE - Since independence from the British in 1980, the Zimbabwean political landscape has metamorphosed significantly, but for the generality of the population, nothing has improved. If anything, things have registered phenomenal deterioration over the years. The gap between the rich and th...
ZCTU loses 300k members 2 November 2017 HARARE - The Zimbabwe Congress of Trade Unions (ZCTU) — an employees' representative body — says it has lost 300 000 of its 400 000 membership due to the economic collapse which has caused massive job losses in the formal sector. Peter Mutasa, the Union's president, told the Daily News yesterd...
Zim prices zoom out of control 1 November 2017 HARARE - Hard-pressed Zimbabwean consumers are in the throes of skyrocketing grocery bills that are likely to deprive them of the joys of Christmas, with unofficial inflation figures showing that food prices have gone up by between 20 to 100 percent in the past month, the Daily News can report. ...
'Hyperinflation returns to Zim' 1 November 2017 HARARE - Hard-pressed Zimbabwean consumers are in the throes of skyrocketing grocery bills that are likely to deprive them of the joys of Christmas, with unofficial inflation figures showing that food prices have gone up by between 20 to 100 percent in the past month, the Daily News can report. ...
Govt plunging Zim into fiscal disaster 31 October 2017 HARARE - A fiscal disaster is looming as President Robert Mugabe’s Zanu PF government is on a spending spree ahead of 2018 elections, often funded through recourse to expensive debt. The reckless and carefree expenditure — amid a widening budget deficit and waning national revenue collections ...
Cowardice, stubbornness behind Zim's demise 31 October 2017 HARARE - I have always believed that part of the fundamental duties or responsibilities of any leader — be it in the corporate, political and even social sphere — is to be able to speak the truth and accept it. Leaders owe their subjects the truth and vice versa. In our Shona culture, there...
Gweru hospital turns away poor patient 30 October 2017 HARARE - Gweru General Hospital allegedly turned away a patient who needed emergency care because he had no cash. The Anti-Corruption Trust of Southern Africa said the hospital refused to treat a poor patient who had no cash but was willing to pay through Ecocash. Efforts to obtain comment ...
'Zim needs economic diversification' 30 October 2017 HARARE - The Zimbabwe National Chamber of Commerce (ZNCC) says the country must diversify into other sectors of the economy in order to address the present economic crunch biting hard on the nation. “There must be a shift from today's silo-style focus on agriculture, mining or industry, to a v...
Hyperinflation threat returns to Zim 29 October 2017 NEW YORK - Less than a decade after hyperinflation obliterated Zimbabwe's dollar along with its pensions and savings, the southern African nation is suffering a return to precipitous price rises. Zimbabwe adopted the US dollar in 2009, along with Britain's pound and the South African rand, to ...
These are encouraging economic signs 29 October 2017 HARARE - It's not every time that hard-pressed Zimbabweans get to hear news from industrialists that cheers them up because conversations amongst business leaders are most of the time dominated by depressing news. If it’s not the slow pace of bank transfers for cross-border transactions occasi...
CBZ tackles high unemployment 28 October 2017 HARARE - Zimbabwe's largest financial services group, CBZ Holdings (CBZ), said it has intensified efforts to empower thousands of the country's unemployed youths through skills training. The group's senior manager marketing Joel Gombera told the businessdaily that CBZ — under its Youth Entrepr...
Hard-pressed Zim industry cuts working hours 26 October 2017 HARARE - Zimbabwe's manufacturers have been squeezed harder by the deteriorating economy, with the sector retrenching and cutting working hours on the back of decreased capacity utilisation, the latest Confederation of Zimbabwe Industries (CZI)'s survey has revealed. This comes as the struggli...
Biti sticks the boot into Zanu PF-led govt 21 October 2017 HARARE - Former Finance minister Tendai Laxton Biti has no kind words for President Robert Mugabe's government which he said cannot be expected to fix Zimbabwe's problems and he tells Deputy Chief Writer Tendai Kamhungira in this interview that it would be foolhardy to expect the regime to mend t...
'Mugabe's economic vandalism unpardonable' 18 October 2017 HARARE - The myriad of challenges bedevilling Zimbabwe today are essentially man-made, a senior Transform Zimbabwe (TZ) official has said. Addressing a press conference on the state of Zimbabwean economy in Harare yesterday, TZ president Jacob Ngarivhume said the cash crisis, vendors, unfriend...
Zim needs bold economic reforms: US envoy 14 October 2017 HARARE - Zimbabwe needs to implement comprehensive and bold economic reforms and get rid of corruption for the  economy to get back on track, United States ambassador to Zimbabwe Harry Thomas Junior has said. He spoke as the economy is imploding, blighted by critical foreign currency shortages...
Zim forex shortages worsen 14 October 2017 HARARE - Zimbabwe’s months-long foreign currency crisis yesterday forced Steward Bank to suspend its MasterCard payment solution, with customers wishing to use the service now required to pre-fund their accounts with cash. This comes as Zimbabwe’s leading banks are suspending automatic use of ...
Ministers blames social media for panic buying 14 October 2017 HARARE - A ministerial taskforce set up to investigate the root cause of recent price hikes and panic buying is set to wind up its probe next week, with preliminary results revealing that government blames social media. Industry and Commerce minister Mike Bimha, who is chairing the committee, ...
Create jobs to end vending: MDC 14 October 2017 HARARE - Morgan Tsvangirai's MDC has said vendors are unfortunate victims of President Robert Mugabe's Zanu PF regime, and said they will not leave the streets until the unemployment crisis has been addressed. This comes after Mugabe complained that the streets of Harare are now very dirty bec...
We are watching you 13 October 2017 HARARE - Yesterday, a local weekly reported that the much-hyped billion-dollar Zisco Steel (Zisco) deal was yet to be signed. The man at the forefront of crafting and announcing the deal, Industry and Commerce minister Mike Bimha, said “nothing solid has been signed to date”, though, he though...
Cops use water cannons to clear vendors 13 October 2017 HARARE - Harare City Council (HCC) and the Zimbabwe Republic Police yesterday implemented a high-handed blitz against vendors in the city centre targeted at removing all hawkers. The blitz, which started off around the Market Square area, rounded up traders in the greater parts of downtown Har...