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Fundamentals in Place for Strong Zimdollar – Mthul

By Elita Chikwati Finance and Economic Development Minister Professor Mthuli Ncube says authorities have instituted measures to ensure the local currency will not suffer previous depredations, following the recent gazetting of Statutory Instrument 142 of 2019, which makes the Zimbabwe dollar the sole legal tender. He said this when he …

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Fear of Death Keeps Citizens Away From Protests

By Costa Nkomo Zimbabweans would have wanted to take part in the national shutdown called by pressure group #Tajamuka/Sesijikile beginning Monday but memories of the violent crackdown by the military that left 17 people dead in January kept them at bay. A snap survey by NewZimbabwe.com in the streets of …

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Stayaways Unhelpful – President

By Takunda Maodza Chipinge — President Mnangagwa yesterday thanked Zimbabweans for ignoring calls by shadowy organisations to stay away from work saying demonstrations were not in the best interest of the country. He urged unity, as it is a recipe for economic prosperity. Some organisations linked to the opposition were …

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‘Brace for the Worst As Zim Dollar Returns’

By Shorai Murwira A local economist, Victor Bhoroma has urged Zimbabweans to brace for the worst following a recent move by government to re-introduce the local currency while outlawing the multi-currency regime. Last week, Finance Minister Professor Mthuli Ncube ended the multi-currency regime introduced in 2009 to tame runaway inflation …

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Econet Profit Remains Positive Despite De-Merger

By Kudzanai Gerede Mobile telecommunications giant, Econet Wireless Zimbabwe Limited (EWZL)’s profits remained in the positive despite a major decline to record $ 106 million for the year ending 28 February 2019 as compared to $ 132 million realized during the same period prior year following a de-merger with tech-firm …

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No Going Back On U.S. Dollar Salary Demand – Govt Warned

By Shorai Murwira Zimbabwe workers have vowed to continue fighting to be paid in United States dollars despite a government move to outlaw multi-currency regime which effectively ended the official use of the greenback in the country. Zimbabwe Congress of Trade Union, (ZCTU) president Peter Mutasa accused the government of …

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Informal Retail Sector Worst Hit By De-Dollarization Move

By Kudzanai Gerede Players in the informal retail sector are reeling from the effects of the Statutory Instrument 142 (SI 142 of 2019) which outlawed the multi-currency system alleging that foreign currency scarcity to replenish stocks has worsened since the pronouncement came into effect last week. The new policy pronouncement …

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You Tricked Us to Vote for You, Vendors Tell ED

By Shorai Murwira Vendors and traders have expressed disappointment over government’s failure to protect and secure their operations saying their hopes in the President Emmerson Mnangagwa administration has not yielded positive results as the recently enacted policy to outlaw multi-currency use in the country is hitting hard on their operations. …

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Govt Clears Air On Us$10m Eskom Payment

Government yesterday confirmed paying US$10 million to South African power utility, Eskom, to service the debt to the power utility — and the money was set to be in the receiver’s bank by end of day yesterday. Last week Government paid $20 million to Zesa Holdings, which acknowledged receiving the …

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