Thursday, June 20

Financial News

April 01, 2022

University of Zimbabwe Extends Fees Payment Deadline Read more

The University of Zimbabwe (UZ) has gazetted the new fees ordinance for the current semester. In a notice dated 31 March 2022, UZ Acting Registrar Munyaradzi Madambi advised students to check the updated fees accounts on their individual e-Mhare portals. It said:   In view of the adjustments necessitated by the new fees ordinance, the fees payment deadline is now the 30th of April 2022.   Those who are currently financially constrained and are yet to register can pay 60 per cent of the newly gazetted fees and register, and then clear their arrears before the 30th of April 2022. Madambi also reminded students that they need to have registered to receive tuition and sit for their first examinations.

March 19, 2021

Switch of bank accounts to Zim dollars valid

Supreme Court: Switch of bank accounts to Zim dollars valid. The High Court in May last year declared unconstitutional, a Reserve Bank of Zimbabwe (RBZ) exchange control directive converting sums in accounts originally designated in US dollars into Zimbabwe dollar-denominated accounts if the money in the accounts originated locally. Sums in accounts denominated in US dollars were legally converted to sums denominated in Zimbabwe dollars in terms of a Reserve Bank of Zimbabwe directive when the local currency was reintroduced, the Supreme Court has ruled, overturning a High Court decision last year that threatened a major financial crisis. The Supreme Court allowed the appeals by CABS, RBZ and the Ministry of Finance and Economic Development challenging the lower court’s decisio

March 12, 2021

Bonus for NSSA pensioners

Govt: Bonus for NSSA pensioners. The discretionary bonus will be paid out together with the March disbursements that are due tomorrow. The National Social Security (NSSA) has this month awarded a discretionary bonus equivalent to 50 percent of one’s monthly pay-out to improve the welfare of beneficiaries as part of its transformation journey. This comes after NSSA chief executive Mr Arthur Manasa recently pledged to ease the plight of members by adopting measures to improve their welfare. The authority will next week give a once-off grocery allowance to orphans, the invalid, parents and other dependants under the Pension and Other Benefits Scheme (POBS), as well as those receiving workers’ pension, widows’ pension, children’s allowance, constant attendants’

February 05, 2020

Forensic Economic Analysts Predicts Zimbabwean Economic Meltdown Within 2 months (98.9%)

Forensic Economic Analysts predict Zimbabwean Economic meltdown within 2 months (98.9%) Zimbabwe which has suffered seriously from corruption, mismanagement of funds, economic policy failure is about to go down in History again.  The 2008 era recorded the highest hyperinflation of the century. In the coming 2 months economic experts predict the same fate for the poverished country. The economic meltdown was initially predicted in 2019 August and was allegedly ignored. According to the findings, Zimbabwe which has been strongly depended on China will nolonger be receiving any money from China which had pledged $138 million dollars to the Zimbabwean fiscal.  This comes after China had to cut on international aid both profitable and non profitable as it is face with a

January 18, 2020

Strive Masiyiwa Lost US$1 Billion When Zimbabwe Government Banned USD Use

Government’s decision to scrap the use of US dollar in June has, according to Forbes, caused Masiyiwa’s fortune to shrink to US$1.1 billion, down from US$2.3 billion a year ago, making him the biggest loser in percentage terms among Africa’s 20 billionaires. By Forbes All it took was a new currency in Zimbabwe to wipe out half of Strive Masiyiwa’s net worth  Zimbabwe’s only billionaire, Strive Masiyiwa, built a fortune primarily in telecom. He owns large stakes in two companies that trade on Zimbabwe’s stock exchange. But his country’s decision in June to ban all foreign currencies and use only the Zimbabwe dollar accelerated inflation and sent the value of the newly instituted dollar plummeting. That, in turn, caused Masiyiwa&rsqu

November 25, 2019

Importers To Sart Declare Forex Zimbabwe

HARARE (Reuters) - Zimbabwe will force importers to declare sources of foreign currency and those who fail to prove they obtained the money from banks will forfeit their goods to the state, a government official said on Friday. Deputy finance minister Clemence Chiduwa said the directive was meant to tame the black market for dollars. Shortages of foreign currency, fuel and electricity are characterising Zimbabwe’s worst economic crisis in a decade and have dashed hopes the economy might recover under President Emmerson Mnangagwa who took over from Robert Mugabe in 2017. Chiduwa told reporters that demand for foreign exchange was still high even after the government ended a decade of dollarisation in June in a major step towards fully restoring its domestic currency. He ad