The Reserve Bank of Zimbabwe (RBZ) on Friday announced new measures to address mobile banking deficiencies in its Monetary Policy Statement (MPS). The Central Bank issued a directive to the effect that, with immediate effect, all mobile money operators have to close all multiple wallets and allow just one wallet per individual. This entails that it is no longer permitted

Remember when the Minister of Finance Announced that he will be seeking a way to tax businesses on Facebook, Amazon and Twitter? Well, he was not joking. In an email addressed to all Zimbabwean Business Accounts, Facebook wrote, Due to implementation of a value-added tax (VAT) in Zimbabwe, Facebook is required to charge VAT on the sale of ads to all advertisers in Zimbabwe. All advertisers with a business country of

 Today, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) designated Kudakwashe Regimond Tagwirei (Tagwirei) for providing support to the leadership of the Government of Zimbabwe, as well as Sakunda Holdings for being owned or controlled by Tagwirei. Today’s action corresponds with the second anniversary of the Zimbabwean government’s violent crackdown against its citizens who were protesting flawed government el

Mr Emmerson Mnangagwa has blamed what he called dark forces for the economic crisis in the country. At a time his government is terrorizing opposition members, Mr Mnangagwa has called for unity, love and tolerance. Below is part of Mr Mnangagwa’s brief SONA: We will defeat the attack on our economy. We make no apology for fixing our economy across the political, social and economic spectrum. We wil continue to strike a balance between peace and st

FORMER Local Government minister Saviour Kasukuwere has challenged ex-Reserve Bank of Zimbabwe governor Gideon Gono and presented evidence that he settled his debt under the Farm Mechanisation Programme. Kasukuwere was forced to absolve himself after a State-owned daily claimed that he did not pay back the loan under the programme after United Kingdom-based Zimbabwe lawyer Alex Magaisa disclosed the full list of top

The 4 000 white commercial farmers who lost their farms during land reform will now be getting US$3,5 billion compensation for improvements after Government and the farmers’ representatives yesterday signed a series of agreements in a ceremony presided over by President Mnangagwa at State House. President Mnangagwa described the agreements, bundled as the Global Compensation Deed (GCD), as a “milestone&rd

 Zimbabwe’s president has picked a fight with the country’s most successful businessman. The economy may be the loser. Under pressure from a plunging currency and 737% inflation, President Emmerson Mnangagwa’s administration on June 27 restricted almost all mobile-money transactions in a country where 90% of commerce is conducted on handsets because of cash shortages. On July 17, the police accused Econet Wireless Zimbabwe Ltd., which domin

Ginimbi’s gas company, Piko Trading, was fined $36 000 and ordered to pay $2 512 149,80 that it owes the Zimbabwe Revenue Authority ZIMRA in taxes after it failed to pay Value Added Tax (VAT) between February 2009 and May 2016. Ginimbi real name Genius Kadungure, appeared before Harare regional magistrate Mr Crispen Mberewere yesterday. Magistrate Mberewere al

Zimbabwe’s central bank has announced that Zimswitch is now the designated national payment platform for all mobile money providers with immediate effect. In a statement, Governor John Mangudya of the Reserve Bank of Zimbabwe said all money transmission agents should be connected to Zimswitch no later than August 15, 2020. “In accordance with the provisions o

202 people have so far been arrested for rejecting and labelling Zim dollars as “bond notes”.  It is reported that fifty-one people have so far been brought to court, while five others have been fined between $200 and $500. The arrests come after the launch of “Operation accept Zimbabwe currency as legal tender” by the police on June 26. Appa

In a shocking development, Cabinet on Tuesday approved the revised implementation plan for the 100 megawatts (MW) Gwanda solar project by  Intratrek Zimbabwe.  Intratrek Zimbabwe is a company owned by Wicknell Chivayo. Under the revised implementation plan, Intratrek Zimbabwe pledges to deliver the first 10MW within six months. The project will be done in two phases, 10MW first and then 90MW by 2022.

‪“It’s Not Sanctions, It’s Corruption and Lack of Reform,” writes American ambassador Brian Nichols as he articulates how corruption, LOOTING and Mnangagwa’s refusal to implement Political Reforms have destroyed Zimbabwe into a basket case. Thieving daily by ZANUPF elites and their side kicks has made the ordinary citizens victims of abject poverty

Ecocash is responding to the ban of thier service and all mobile money services in Zimbabwe. Ecocash is defying the ban claiming ther are regulated by the reserve Bank of Zimbabwe and they will stop services only from orders from the reserve bank.  

The Government has suspended mobile money platforms EcoCash, One Money and Telecash among others as well as trading on the Zimbabwe Stock Exchange until further notice.Government said the move was to curtail what it claimed was economic sabotage perpetrated by the “wolves in sheep skins amongst our populations”. Government has accused the mobile platforms of facilitating the skyrocketing of rates

Sex workers in Zimbabwe have cried foul over the skyrocketing prices of condoms in the country warning that this could lead to a rise in the number of infections of HIV and Sexually Transmitted Infections (STIs). The sex workers have called on the government to scrap import duty on the condoms or to subsidize them. This comes after the price of a pack of Durex Condoms shot up to between ZWL$107 and $119. To put these

The price of bread has gone up yet again in Zimbabwe, a day after the country abandoned the fixed foreign currency exchange rate and introduced the foreign currency auction system. According to information reaching iHarare, a standard loaf of bread from Proton Bakeries is now retailing for ZWL$87 in some supermarkets in the capital. The is an increase of ZWL$26 from the previous price of ZWL$61. This price increase t

Zimbabwe conducted its first weekly foreign currency auction on Tuesday with the local dollar trading at an average of 57.3582 to the U.S. dollar, ending a fixed exchange rate of 25 in place since March. The southern African country reintroduced its local currency last year after a decade of official use of the U.S. dollar in the economy. But the local currency rapidly lost value, sending prices rocketing and raising

FINANCE and Economic Development Minister Professor Mthuli Ncube told the ruling Zanu-PF Politburo meeting this week that indeed, the economy is imploding and he’s running out of legroom to fix the mess as he is “not a magician”. Both the Finance Minister and Reserve Bank of Zimbabwe governor John Mangudya on Wednesday came under the cross hairs of the Zanu-PF top decision making organ, with senior

Madam Boss Launches Fast Food & Grocery Delivery App Called  Delivery Lady In troubling times like these, where everything has been paused, it’s always good to know your business doesn’t have to be put on hold too. Madam Boss Ent has designed an app called Delivery Lady a platform that allows you to keep your business running smoothly with all the ne

RUDO Boka, the daughter of the late prominent business tycoon, Roger Boka says when her father passed on; ‘false friends’ showed their true colours, leaving her alone to rebuild her father’s business empire from the ashes after it had spectacularly collapsed. Rudo was only 21 when her father passed on in 1999. He left behind massive debts, 19 civil cour

THE Postal and Telecommunications Regulatory Authority of Zimbabwe (Potraz) has with immediate effect approved a 57 percent upward review for voice, data and SMS tariffs to catch up with the “constantly rising operating costs” affecting the telecoms sector. Potraz said the current prices have become sub economic due to the continual deterioration of the country’s economy, hence the increase intends

Vice-president Constantino Chiwenga is demanding a refund of US$245 428 paid into his estranged wife, Marry Mubaiwa’s bank account as proceeds from his hunting concessions as the fight for properties exposes the lifestyles of Zimbabwe’s rich political masters. Chiwenga’s lawsuit shows the extent of the couple’s property holdings previously kept under wraps. The two are fighting for several properties and even small items acquired du

SEH CALAZ and his award-winning manager Preston Maporisa have reportedly parted ways, this publication can reveal. On Wednesday, Maporisa tendered a resignation letter. “Please note that I am here to tender my resignation as Seh Calaz manager ndipewo vamwe mukana vanokwanisa kufambisa basa. “No hard feelings and ndagara ndiriMubhandit and will remain Mubhandi

Gospel musician Mudiwa Hood is using  his resources to assist the humiliated Mutoko headmaster who was caught stealing maize cobs yesterday. In a post he made, he said “This is my hero, he did not kill, rape or beat his wife, he just took 8 maize cobs to feed his family. I do not condone the act but I celebrate the level of discipline, I will help him” read the message. He added that t

MORE than 20 companies failed to reopen after the festive season, leaving at least 500 workers in the lurch, businessdigest has learnt. This comes at a time the economy is facing serious headwinds which include prolonged power cuts of up to 18 hours, depressed production at less than 40% capacity, fuel and foreign currency shortages and year-on-year inflation which has galloped past the 500% mark.