Mujuru files Con Court challenge to Presidential decree providing a legal framework for bond notes legality

Mujuru files Con Court challenge to Presidential decree providing a legal framework for bond notes  legality

Zimbabwe People First leader Dr Joice Mujuru has gone to the Constitutional Court to challenge the legality of a Presidential decree providing a legal framework for the introduction of bond notes as legal tender. President Mugabe issued a decree this week authorising the introduction of bond notes, which are expected to ease the liquidity crunch gripping the country. Dr Mujuru filed her application in the Constitutional Court on Friday and listed President Mugabe, Parliament, Finance…

Read More

Pentecoastal Churches install Point of Sale machines for tithes as a way of countering cash shortages in Zimbabwe

Pentecoastal Churches install Point of Sale machines for tithes as a way of countering cash shortages in Zimbabwe

  PENTECOSTAL churches have installed Point of Sale machines at their premises to allow congregants to pay their tithes, offerings and settle other church-related services using plastic money as a way of countering cash shortages. Traditionally congregants have been paying tithes using cash. In Christianity, a tithe is one-tenth of someone’s earnings which goes to support the church and their leaders, mostly pastors. Church leaders told Sunday News that they have installed the POS machines…

Read More

Dangerously Bordering On Being ‘A Zanu PF Mouthpiece, Prophet Magaya Claims Bond Notes Are A Noble Idea’

Dangerously Bordering On Being ‘A Zanu PF Mouthpiece, Prophet Magaya Claims Bond Notes  Are A Noble Idea’

PROPHETIC Healing and Deliverance Ministries leader Prophet Walter Magaya says the bond notes that are set to be introduced are a noble idea which was not well communicated to the public, hence the outcry among the populace who fear the return of the Zimbabwe dollar. PHD Praise and Worship team members count offerings while Prophet Magaya addresses journalists and congregates during a Wednesday night church service Addressing journalists at a press conference on Wednesday night,…

Read More

Gvt Blew US$400m On Zimbabwe Agenda for Sustainable Socio-Economic Transformation (Zim-Asset) In 2015

Gvt Blew US$400m On  Zimbabwe Agenda for Sustainable Socio-Economic Transformation (Zim-Asset)  In 2015

Government spent more than US$400 million on projects under the Zimbabwe Agenda for Sustainable Socio-Economic Transformation in 2015, with more resources expected to be channelled towards energy, housing, agriculture and other areas. Zim-Asset, adopted in 2013, is Zimbabwe’s foremost economic blueprint and covers infrastructure and utilities, social services and poverty eradication, food security and nutrition as well as value addition and beneficiation through to 2018. In a letter of intent to the IMF contained in…

Read More

Panama Papers Reveal 280 Zimbabweans ‘Who Siphoned Billions Out Of The Country’

Panama Papers Reveal 280 Zimbabweans ‘Who  Siphoned Billions Out Of The Country’

The International Consortium of Investigative Journalists has named over 280 Zimbabweans, including prominent businesspeople, who reportedly syphoned billions of dollars out of the country. The businesspeople, mostly of Caucasian extraction, have links to offshore investment vehicles. The list is contained in data from over 200 countries that was leaked to the Panama Papers and contains information about offshore companies and the people behind them. The Panama Papers are 11,5 million leaked documents that detail financial…

Read More

Zimbabwe Reels With Deepening Cash Crisis, ATMs Withdrawals Limited, And Some ATMs Are Switched Off

Zimbabwe Reels With Deepening Cash Crisis, ATMs Withdrawals Limited, And Some ATMs Are Switched Off

Banks have introduced stringent cash management systems including limiting maximum cash withdrawals to $500 per transaction and switching off some of their ATMs following a liquidity crisis that has hit the market, it has emerged. Although some bank officials tried to put the matter under a lid, market snap surveys in and around Harare, however, revealed that even the Zimswitch facility had been disabled and customers were unable to receive cash backs from some supermarkets….

Read More

Zimbabwe Government Unveils New Indigenisation Framework

GOVERNMENT yesterday unveiled a new framework to the Indigenisation and Empowerment Policy containing a cocktail of measures expected to complement other initiatives to attract local and Foreign Direct Investment.  Over the past few weeks, Finance and Economic Development Minister Patrick Chinamasa and his Youth, Indigenisation and Economic Empowerment counterpart Patrick Zhuwao appeared to differ on the framework and last week had to cancel a joint media briefing they had planned. The ministers, however, managed to…

Read More