Zimbabwe overspent by $430 million in fourth quarter of 2016 alone

Zimbabwe government expenditure for the fourth quarter amounted to $1.432 billion against a target of $1.006 billion, resulting in an expenditure overrun of 42.3 percent, the latest Treasury bulletin shows. In the fourth quarter, recurrent expenditure was were $1.025 billion, while capital expenditure and net lending amounted to $407.2 million. Much More...

by Lex Vambe | Published 4 days ago
By Lex Vambe On Monday, March 20th, 2017
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Panic and fear of 2008 as Zimbabwe set to print more bond notes

Harare – Zimbabwe’s central bank has printed half of the “bond notes” quasi-currency it intends to issue under a $200 million (R2.5 billion) scheme, a state newspaper reported on Friday. Long bank More...

By Lex Vambe On Tuesday, March 14th, 2017
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Travellers to Zimbabwe advised to bring Dollars as cash shortage continues

Travellers in Zimbabwe have been advised to bring along US Dollars, as an ongoing cash shortage in the country has disabled all ATM cash withdrawals for international banks.  This is according to the latest update More...

By Lex Vambe On Monday, March 13th, 2017
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Farmers urged to open bank accounts ahead of harvesting

AGRICULTURE, Mechanisation and Irrigation Development Minister Dr Joseph Made has called on farmers across the country to open bank accounts ahead of harvesting to ensure smooth payment for grain deliveries to More...

By Lex Vambe On Wednesday, March 8th, 2017
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Zimbabwe to pay $180 million in civil servants bonuses

Zimbabwe will spend $180 million to pay the 2016 bonuses for its workers over five months from April following a crunch meeting with union leaders today, staving off a crippling strike. Civil servants had planned More...

By Lex Vambe On Monday, March 6th, 2017
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Zimbabwe govt agrees to pay 2016 civil servants bonuses

HARARE: Government has agreed to pay the 2016 bonuses for its workers over five months from April following a crunch meeting with union leaders on Monday, starving off a planned strike by the civil servants. The More...

By Lex Vambe On Sunday, March 5th, 2017
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US dollar notes disappear from the market

ZIMBABWEAN banks and individuals are behind the current shortage of the United States dollar by withholding the currency which has become a form of investment. BY TATIRA ZWINOIRA Since the introduction of the bond More...

By reporter263 On Friday, March 3rd, 2017
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CBZ Bank swindled of US$600 000

CBZ Bank Limited has suspended one of its employees on charges of being allegedly involved in fraudulent activities and underhand foreign currency dealings which involved about US$600 000, it has been established. By More...

By reporter263 On Sunday, February 26th, 2017
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U.S.$ Disappears From Banking System

Transactional activity in Zimbabwe in recent weeks indicates a slow disappearance of the United States dollar, which is being replaced by bond notes. The bond notes were introduced last year under the $200 million More...

By reporter263 On Saturday, February 25th, 2017
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Tough times for loan defaulters

ZIMBABWE’S serial defaulters are in for a bumpy year following operationalisation of the country’s credit registry. The registry, which by end of January this year already had a total of 104 000 loans uploaded More...