Articles tagged 'john mangudya'

Suzan partnership lifts Fidelity exports 9 August 2018 HARARE - Fidelity Printers and Refiners (FPR) has managed to ramp up its gold production at the back of support from agents, including Suzan General Trading (Suzan), documents show. This also comes as the country's yellow metal output – for the first seven months to July – has risen to nearly ...
Prices of basic goods shoot up 1 July 2018 HARARE - Prices of basic consumer goods have gone up sharply over the past few weeks, on the back of worsening foreign currency shortages in the country. At the same time, experts warn that the price increases are set to continue beyond the July 30 national elections — as the insatiable demand...
'Zim situation worsening' 30 June 2018 HARARE - Zimbabwe’s situation — economic downturn, youth unemployment, corruption, human rights abuses and poor service delivery — has worsened over the past five years, a survey has revealed. According to the survey — conducted by Magamba Network in conjunction with Citizens Manifesto and the...
Cash shortages stifle economic activity 27 May 2018 HARARE - Zimbabwe's liquidity constraints are now stifling economic activity, with  the impact of the currency shortage extending beyond everyday consumers and seeping into other sectors of the economy. This comes as most service stations in Harare have run out of fuel amid a worsening economi...
Fuel crisis surfaces 16 May 2018 HARARE - Several service stations in the capital and elsewhere have run out of fuel, amid conflicting explanations from the authorities and industry players as to the source of the shortages. [Adz]
ED's forex looters list a big joke 20 March 2018 HARARE - President Emmerson Mnangagwa's government yesterday released the long-awaited list of companies and individuals alleged to have failed to return $827 million stashed abroad following the expiry of a 14-week-long amnesty, the Daily News can report. Read full story in today's paper. ...
Zim's credit rating improves 8 March 2018 HARARE - Respected South Africa-based economic research firm NKC African Economics (NKC) yesterday upgraded Zimbabwe’s sovereign credit rating or ability to borrow money for the first time in nearly 20 years, saying continued progress on economic and institutional reforms would boost the country’...
Zim commits to debt clearance programme 14 February 2018 HARARE - President Emmerson Mnangagwa’s government says it is committed to repay its debts with the international community. Central bank governor John Mangudya said in line with the new economic order, government is intensifying the re-engagement process with the international community to im...
Stability stress tests for Zim banks: Mangudya 12 February 2018 HARARE - The Reserve Bank of Zimbabwe (RBZ) will start conducting comprehensive financial stability stress tests on the banking sector beginning September 2018 as it seeks to bring stability to the troubled sector. Central bank governor John Mangudya said the tests were part of measures aimed ...
Mangudya's tough inflation choices 9 February 2018 HARARE - Reserve Bank of Zimbabwe (RBZ) governor John Mangudya has vowed to keep the country's inflation below four percent this year. However, the veteran banker has a tough job ahead of him as inflation topped 3,46 percent by end of December last year, with some market experts predicting tha...
'Looters returning externalised millions' 12 January 2018 HARARE - Individuals and companies that illegally externalised significant amounts of money from the country are returning the money, Reserve Bank of Zimbabwe governor John Mangudya has said. This comes after President Emmerson Mnangagwa said the looters are known and will be prosecuted if the...
MDC MP moves to save Farai sanitary wear firm 11 January 2018 HARARE - MDC MP Priscilla Misihairabwi-Mushonga has tabled a motion in Parliament seeking to compel the Reserve Bank of Zimbabwe (RBZ) governor John Mangudya to urgently capitalise Onsdale Enterprises, one of the country's major sanitary wear manufacturers that is on the verge of shutting down.  ...
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...
'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...
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. ...
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...
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...
Prices in sharp increase 24 October 2017 HARARE - Zimbabwe witnessed the sharpest increase in average prices in September since it adopted the multi-currency regime in 2009, which was biased towards the US dollar, a leading financial research firm has said. According to official Zimstat data, year-on-year inflation rose by 0,78 perce...
Banking sector capitalisation increases 18 October 2017 HARARE - Banking sector capitalisation increased to $1,24 billion by end of June 2017 from $1,22 billion recorded in the first quarter. Parliament's Budget Office (PBO) said all the banking institutions were adequately capitalised and complied with minimum capital requirements. CBZ managed ...
'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...
Panic as cooking oil shortage hits Zim 17 October 2017 HARARE - There is once again growing uneasiness in the market as the country has been hit by another shortage of cooking oil, which retailers blame on oil manufacturing companies — who are said to be selectively supplying a few “favoured” outlets. At the same time, the Oil Expressers Associati...