Govt sets team to design finer details for stimulus package
Zimra closes Bulawayo office due to COVID-19, sends 52 employees into self-isolation
By Staff Writer Government has begun consultations for the allocation of the ZW$18 billion COVID-19 rescue plan for productive sectors, Finance Minister Mthuli Ncube has said. Last week President Emmerson Mnangagwa announced a bail out program for local industry which is teetering on the brink of collapse following the outbreak of the pandemic. “To this …
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Govt. Warned: ZW$18 billion stimulus package will stoke inflation
The Zimbabwe Revenue Authority has closed its Bulawayo office after one of its staff members tested positive to COVID-19 The tax agency’s Commissioner General Faith Mazani said the office would resume operations after tests are done on other employees that could have come into contact with the coronavirus patient. “We were notified by the Ministry …
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Sub-Saharan Africa’s lack of capacity could be a tipping point for COVID-19
By Staff Writer President Emmerson Mnangagwa has announced a ZW$18 billion stimulus package for the economy which took a cough due to the COVID-19 pandemic. Experts have however warned that while the package is long overdue, the rescue plan could result in money supply growth which is inflationary and could also fuel corruption in the …
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COVID-19: Zim to record double digit GDP contraction
▪ Signs of possible exponential growth in the first month in Sub-Saharan Africa ▪ 4 growth patterns established for the majority of SSA countries ▪ Perfect storm: SSA countries are at the tipping point “I’ll start by highlighting the fact that, before the COVID-19, our [Zimbabwe] health care system was already in shambles,” said Tapiwa Mungofa …
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Enter the new type of vendors, as Harare defy COVID-19 lockdown
By Staff Writer Imara Capital, one of the country’s leading investment firms has advised President Emmerson Mnangagwa’s administration to push for political negotiations with Nelson Chamisa, as well as to adopt sound economic reforms after warning that the country’s economy could this year shrink by double-digit figures. Zimbabwe and the world are currently battling the …
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ZNCC pushes for partial lockdown, as local firms lose over ZW$5m during lockdown
By Staff Writer It’s 7 o’clock in the morning and many people are already queuing outside OK Supermarket in Avonlea waiting for the shop to open. After enduring the first 21-day lockdown, many are now accustomed to the drill-while queuing stay a metre apart, get your body temperature checked and the shop assistant sprays hand …
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Wither Zim’s debt plan
By Staff Writer More than a quarter of Zimbabwe’s businesses could have lost up to ZW$5 million each in potential revenue since the government announced a 21-day lockdown to slow down the spread of COVID-19, a new study by the Zimbabwe National Chamber of Commerce (ZNCC) has shown. Zimbabwe enforced a national lockdown on Monday …
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Sanctions are real but… (Part 1)
By Staff Writer Zimbabwe’s prospects of accessing long-term concessionary funding from international financial institutions has been thrown into disarray after the southern African country missed key benchmarks in its reform drive, analysts have warned. The country is saddled with a debt stock of $16,9 billion, with external debt accounting for approximately $7,4 billion. Out of …
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Sanctions or Corruption: Zimbabwe Remains on a Self-Destructive Path
By Prosper Chitambara The major highlight of the past week was the anti-sanctions march on Friday 25 October; a day designated as the anti-sanctions day by SADC and declared a public holiday by the government of Zimbabwe. While external sanctions are real and have had some negative implications on the economy, the worst form of …
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By Wisdom Mumera Two epochal things happened after the coup that toppled former President Robert Mugabe; strategic moves aimed at starting a new foreign policy and setting the new regime on a new course for success. The first was the disengagement from the sanctions mantra blaming every failure on the Western measures. In January 2018 …
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