Zimbabwe

Zimbabwe

Mthuli Ncube Anticipates 52% Depreciation of ZiG in 2025

The Zimbabwe’s economy faces a turbulent 2025, with the local currency, the Zimbabwe Gold (ZWG), expected to depreciate by an alarming 110% in FY2025, Government 2025 Budget reviews. This grim foreca

Dec 03, 2024
Zimbabwe
Sugar Tax Cut, Over 2 Million Unaccounted For: Will Fast Food Tax Suffer Same Fate?

Reduction of Sugar Tax: Has cut the sugar tax from 0.001% to 0.0005% per gram Revenue Allocation Concerns: Despite generating significant revenue from the sugar tax, no cancer treatment equipment has

 Dec 02, 2024
Zimbabwe
You Play, We Tax, State's Desperation Grows: What 10% Tax on Betting Means

In his 2025 budget presentation, Finance and Economic Development and Investment Promotion minister, Mthuli Ncube, imposed a 10% tax on all winning betting odds, effective January 1, 2025. This new

 Dec 02, 2024
Zimbabwe
Tax Net Widens: 2025 Budget Introduces New Levies on Sports Betting, Informal Traders, Fast Foods and More

As the government grapples with the challenge of raising capital amid significant debt levels that hinder access to credit and strained diplomatic relations with Western nations, it has shifted its fo

 Nov 29, 2024
Zimbabwe
Month-on-Month Inflation Sees Huge Decline, Sheds 26 Percentage Points

Zimbabwe's inflation landscape witnessed a notable shift in November 2024, as the month-on-month inflation rate plummeted to 11.7 percent, representing a substantial 25.5 percentage point decrease fro

 Nov 28, 2024
Zimbabwe
October External Trade Overview: Trade Balance Improves, Gold Surge, Fuel, Maize Imports Dominates- Key Drivers Revealed

Harare- Zimbabwe's trade deficit narrowed in October 2024, despite remaining in the red. According to data from Zimstat, total exports reached US$698 million, representing a 16% year-on-year decline f

 Nov 28, 2024
Zimbabwe
Hobbled by Policy Flux: How State Intervention Stifled Business Growth in 2024

The year 2024 proved to be exceptionally challenging for both developed and developing nations. Zimbabwe experienced its most severe drought in over four decades, exacerbated by the ongoing geopolitic

 Nov 28, 2024
Zim’s 10-Month Gold Exports Value Surpasses FY23 Total, Hits Record US$1.87 Billion

Gold has recorded a historical high of US$296.85 million in exports value in October according to the latest data released by Zimstat in terms of value. Of all the exports, gold accounted for 42.4% s

Nov 27, 2024
Government Amends Sovereign Wealth Fund Act: Will It Revive Struggling State-Owned Enterprises?

The government has implemented a strategic amendment to the Sovereign Wealth Fund Act, effectively enabling the Mutapa Investment Fund to leverage state-controlled assets as collateral for debt financ

Nov 26, 2024
ZPC Gives Update on Nationwide Blackouts: What’s Went Wrong, What’s next?

Zimbabwe Power Company (ZPC) has attributed the nationwide blackouts experienced yesterday in the country to a system disturbance. The disturbance resulted in a complete loss of power supply, but ‘mo

Nov 25, 2024
ZSE Suspends Trading of Meikles Limited Shares

The Zimbabwe Stock Exchange Limited (ZSE) has suspended trading of Meikles Limited shares with immediate effect until further notice. This decision was announced in a circular posted today, and it ai

Nov 25, 2024

Zimbabwe's 2024/25 Cropping Season: Targets, Preparatory Measures

The 2024/2025 agricultural season has commenced, albeit at a measured pace in line with expectations. Zimbabwe is targeting a production goal of 3.3 million metric tonnes for cereals and 819,500 metri

Nov 18, 2024

Delta Posts 11% Revenue Growth, Defying Economic Challenges

DELTA Corporation , the leading beverage manufacture has posted an increase in revenue to $389.1 million for the half year ended September 2024 from US$350.6 last year. This led to a profit after tax

Nov 13, 2024

Rising Reserves, Waning Performance: The Dilemma of Zimbabwe's Currency

The Reserve Bank of Zimbabwe (RBZ) announced that the reserves backing the Zimbabwe Gold (ZiG), the fourth currency introduced in nearly a decade, have surpassed US$500 million, reaching US$509 millio

Nov 12, 2024

Glimmer of Hope: Zim’s Oct Gold Surge Revives Year-End Target

Zimbabwe's October gold deliveries surged 22% from September and 12% above October 2023, reaching 4,168 kgs. Small-scale miners produced 3,143 kgs, up from 2,404 kgs in September, while large-scale m

Nov 07, 2024

Smoke and Mirrors? ZiG Strengthens for Third Consecutive Day, Takes in 9% Gains

The Zimbabwe Gold (ZWG) currency has exhibited an appreciation on the formal market, recording its third consecutive gain on November 6, 2024. The currency surged 3% from 26.99 to 26.01, translating

Nov 06, 2024

Zimbabwe Fuel Prices Rise: Petrol and Diesel Up in November

he Zimbabwe Energy Regulatory Authority (ZERA) has announced an increase in fuel prices for November, impacting both petrol and diesel. Petrol prices have risen from US$1.49 per litre in October to U

Nov 06, 2024

ZiG Extends Rally: Gains 7% against US$, Biggest Appreciation Since Launch

The Zimbabwe Gold (ZWG) has sustained its upward momentum, appreciating by 4% to 26.90 on October 5, 2024, building on the previous day's 2.4% gain. This cumulative 7% surge over the past two days ma

Nov 05, 2024

Year-to-Date Tobacco Update: Rakes in $1 Billion, Exports Surge, 30% Increase in Growers

Zimbabwe's year-to-date tobacco exports have raked in US$1 billion exceeding the US$960 million recorded in 2023 according to Tobacco Industries Marketing Board. The country shipped approximately 187

Nov 05, 2024