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Zimbabwe: RBZ Criticized Over Interbank Forex Market Failure

Reserve Bank of Zimbabwe (RBZ) has come under fire over inefficiencies in the operations of the inter-bank foreign exchange market arising from alleged manipulation of the exchange rates by the Central Bank, 263Chat Business can report. The inter-bank market was established last year to create a formal trading platform for …

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Zimbabwe: Chombo Temporarily Gets Passport Back

High Court Judge Justice Moses Foroma has allowed former Local Government, Public Works and National Housing Minister Ignatius Chombo to have his passport temporarily back so that he can travel to South Africa to get medical attention. This was after Chombo applied to have his passport released. Justice Foroma ordered …

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Zimbabwe: U.S.$1 Billion for Cyclone Idai Rehabilitation

Zimbabwe needs at least US$1 billion towards rehabilitation of the three provinces that were ravaged by Cyclone Idai which hit three Southern African states in March 2019, destroying infrastructure and killing hundreds of people. Speaking on the sidelines of a regional conference of disaster risk management currently underway in Mutare, …

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Zimbabwe: Tsl in 62 Percent Revenue Growth

imbabwe Stock Exchange listed entity TSL Limited reported a 62 percent growth in revenue and a 294 percent growth in operating profit for the year ended October 31, 2019. Revenue for the period amounted to $454,9 million while operating profit amounted to $195 million. The diversified company went on to …

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Zimbabwe: Using Cash Attracts Reasonable Pricing

Though cash availability remains constrained, people using it are enjoying relatively lower prices than those using plastic money. A visit to several shops in and around the Harare central business district (CBD) reveals that people are preferring to buy groceries in cash, because there is a huge difference between cash …

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Zimbabwe: Using Cash Attracts Reasonable Pricing

Though cash availability remains constrained, people using it are enjoying relatively lower prices than those using plastic money. A visit to several shops in and around the Harare central business district (CBD) reveals that people are preferring to buy groceries in cash, because there is a huge difference between cash …

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Zimbabwe: Zanu-PF Provinces Back Devolution

Zanu PF provincial structures have backed the Government’s thrust on devolution to develop provincial economies in line with President Mnangagwa’s Vision 2030. This comes after President Mnangagwa recently said the devolution principle adopted by Government was in line with the objective to implement locally-driven initiatives. Speaking in an interview yesterday, …

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Zimbabwe: Zimplats Expansion Drive Progressing Well

ZIMPLATS Holdings says it is targeting completion of its Mupani Mine which is part of the company’s ongoing capital expenditure projects by 2025. Mupani is one of Zimplats capital projects along with Bimha and Rukodzi Mine refurbishments. Inclusively these projects are expected to gobble at least $365 million upon completion. …

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