Business

Zim not over taxed: Guvamatanga

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ZIMBABWE’S taxation regime and levels are in line with regional trends, as the current revenue collections — at 18 percent — are attributable to “administrative efficiencies and not overtaxation”, Finance secretary George Guvamatanga has said.This comes as more independent voices such as South Africa’s Daily Investor have said Harare’s American dollar earnings have been larger…

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Forex availability lifts construction sector

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INDUSTRY players say increased foreign currency availability has boosted output in the construction sector.The sector had previously faced challenges over the past two years in securing adequate foreign currency to import essential materials, raw inputs and machinery.Foreign exchange constraints and local currency volatility worsened the shortage, historically limiting the industry’s capacity to operate at optimal…

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IMF projects single-digit Zim inflation through 2026

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THE International Monetary Fund (IMF) has projected that Zimbabwe’s inflation will remain in single digits throughout 2026, marking a significant milestone in the country’s return to macroeconomic stability.This comes as the annual ZiG inflation dropped to 4,1 percent in January — the first time that the local currency figure had fallen to single digits since…

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Zanu PF targets errant bigwigs

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ZANU PF will discipline central committee members who snubbed the Gweru seminar as the party moves to crush internal divisions.The warning follows President Emmerson Mnangagwa’s rebuke of errant members, demanding an immediate end to the former liberation movement’s internal squabbles.Speaking on Friday, the party’s secretary-general, Jacob Mudenda, described the absenteeism as a serious breach of…

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RBZ sets conditions for mono-currency

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THE Reserve Bank of Zimbabwe will only adopt a mono-currency system once strict economic conditions and foreign reserves are met.Addressing the media in Harare on Friday, Reserve Bank of Zimbabwe governor John Mushayavanhu insisted that significant progress is being made toward meeting these requirements.“The road to mono-currency is premised on achieving certain conditions. For example,…

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Schools face massive procurement fraud

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THE government has called for stricter enforcement of procurement rules in schools following the revelation that more than 100 irregularities were recorded last year, highlighting persistent concerns over corruption and weak oversight.Speaking at a public dialogue organised by Transparency International Zimbabwe (TIZ) in Bulawayo on Friday, the director of procurement in the ministry of Primary…

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A ticked off ED blows a gasket

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A MIFFED President Emmerson Mnangagwa tore into errant members of his ruling Zanu PF yesterday, while also demanding an immediate end to the former liberation movement’s worsening internal squabbles.Opening a seminar for Zanu PF central committee members in Gweru, Mnangagwa further warned that there would be serious consequences for people — including party bigwigs —…

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Male condoms in short supply

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A SERIOUS shortage of male condoms in public health clinics here could derail the country’s fight against HIV/Aids and other sexually transmitted infections (STIs).So warns the Bulawayo City Council, which adds that the prophylactics are critical for the sexual health of the metro’s residents, as they provide dual protection by preventing unintended pregnancies and reducing…

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Zim, IMF ink new reform deal

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ZIMBABWE and the International Monetary Fund (IMF) have reached a staff-level agreement on a 10-month Staff-Monitored Programme (SMP), a move signalling a critical turning point for the nation’s fractured relationship with global finance.The deal, announced yesterday following 10 days of intensive negotiations in the capital, aims to cement recent economic gains while paving the way…

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