Articles tagged 'john mangudya'

'Your days are now numbered' - ED warns illegal forex dealers 22 October 2018 HARARE - President Emmerson Mnangagwa has moved a step closer towards dealing decisively with unscrupulous Zanu PF bigwigs and businesspeople who are involved in the illegal trading of foreign currency in the country. As has been accurately reported by the Daily News over the past few days, Mn...
Currency crisis leaves prices soaring 22 October 2018 HARARE - At  supermarket in Harare, Zimbabwe's capital, the Finance minister is staring aghast at a pack of nappies. “This is absolutely ridiculous!”, exclaims Mthuli Ncube. “$49!” A manager says it cost $23 two weeks ago, before pointing out other eye-watering items such as $20 Coco Pops. ...
'Reducing govt waste, imposing taxes will revive economy': Ncube 21 October 2018 HARARE - The Daily News on Sunday deputy chief writer Tendai Kamhungira took time to speak to Finance minister Mthuli Ncube over the motive behind his controversial policy interventions. Q: What was the motive behind the introduction of the two percent tax regime? A: It's only one of the me...
Minister calls for political reforms 20 October 2018 HARARE - Finance minister Mthuli Ncube has urged the government to be receptive to the reform demands of the opposition and Western powers — as this will enable Zimbabwe to access help from overseas companies and multilateral institutions such as the International Monetary Fund and the World Bank...
AfDB confirms $500m Zim loan 20 October 2018 HARARE - The Reserve Bank of Zimbabwe is set to receive a $500 million loan from the African Export-Import Bank (Afreximbank), a move meant to arrest the sliding official foreign currency reserves and provide much-needed breathing space to the new government. This comes as Zimbabwe is in the t...
'Mangudya deserves our support' 19 October 2018 HARARE - Zimbabweans must support the country's recently announced monetary policy measures because they are “meant to preserve people's savings at banks”, a youth empowerment activist has said. This also comes as government has somehow backed a Zanu PF youth league's call for punitive action ...
'Tax pain must be shared' 15 October 2018 HARARE - While it is understandable for President Emmerson Mnangagwa to call on Zimbabweans to adjust to the two percent tax regime for better economic transformation, analysts believe that the pain should also be shared by those in power. On Monday, Mnangagwa urged citizens to bear the pain o...
'Govt will defend wages' 15 October 2018 HARARE - President Emmerson Mnangagwa says he is fully aware of challenges monetary and fiscal measures have posed and government is working flat out to protect consumers, defend wage values and secure savings. This comes after Finance minister Mthuli Ncube and Reserve Bank of Zimbabwe governo...
Tax storm: Top lawyers say 2% tax is illegal 14 October 2018 HARARE - Government has triggered a storm after forging ahead to effect a draconian two percent tax on electronic transactions through a process legal experts say is unlawful.
2% tax begins 13 October 2018 HARARE - Despite the massive resistance which followed the unveiling of a draconian two percent tax on electronic transactions last week, government has now moved to make the fee lawful with immediate effect. A general notice published in the Government Gazette yesterday under Statutory Instru...
2% tax begins: as govt makes unpopular tax lawful 13 October 2018 HARARE - Despite the massive resistance which followed the unveiling of a draconian two percent tax on electronic transactions last week, government has now moved to make the fee lawful with immediate effect. [Adz] [GoogleAd]
Finance minister in soup over tax - new measures not approved by ED 5 October 2018 HARARE - Finance minister Mthuli Ncube,  whose controversial two cents per dollar tax has caused palpable anger among long suffering Zimbabweans and business — jumped the gun in announcing the new measures which had not yet been approved by President Emmerson Mnangagwa, the Daily News can reveal....
Mnangagwa gamble backfires 4 October 2018 HARARE - President Emmerson Mnangagwa has got it all to do after the government's new measures to stabilise the country's sickly economy were rejected by a wide cross-section of the Zimbabwean populace — who feel that the steps taken by authorities this week will worsen their suffering, the Daily...
ED gamble backfires 4 October 2018 HARARE - President Emmerson Mnangagwa has got it all to do after the government's new measures to stabilise the country's sickly economy were rejected by a wide cross-section of the Zimbabwean populace — who feel that the steps taken by authorities this week will worsen their suffering, the Daily...
Ncube, Mangudya's steps 'inadequate, unhelpful' 4 October 2018 HARARE - Long-suffering Zimbabweans have expressed disappointment in the government's latest economic stabilisation measures that were announced on Monday, adding that they feared that things could take a turn for the worse in the country. In a bid to mitigate rising prices and the acute short...
Economic stabilisation steps 'inadequate, unhelpful' 3 October 2018 HARARE - Long-suffering Zimbabweans have expressed disappointment in the government's latest economic stabilisation measures that were announced on Monday, adding that they feared that things could take a turn for the worse in the country.
Fuel stations run dry 20 September 2018 HARARE - Most service stations in Harare have run dry with long queues emerging as the fuel crisis continues, despite Reserve Bank of Zimbabwe (RBZ) governor John Mangudya saying the sector is fully-funded. Mangudya told the Daily News yesterday that logistical challenges that were faced by th...
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...