Mail & Guardian
Mail & Guardian
samuel mumbengegwilatest news & developments

Zimbabwe threatens banks over cash crisis

President Robert Mugabe’s government has ordered banks to end a banknote shortage or risk being closed, state media reported on Wednesday. Banknotes have joined the long list of…

Zim vets in ‘million-man’ Mugabe march

Thousands of Zimbabwean war veterans gathered in Harare on Friday to lead a ”million-man march” in support of President Robert Mugabe’s bid to extend his rule despite a severe…

Zim budget: Scant hope of ‘rebound’

Zimbabwe’s 2008 budget seems bereft of concrete measures to curb hyperinflation and ill suited to provide the economic rebound it promises a population faced with growing…

Power failures strike troubled Zimbabwe

Zimbabwe’s finance minister proposed cutting taxes for the growing number of poor, increasing taxes on some manufacturers and cracking down on the black market as cures for his…

Zim sees economic growth, silent on devaluation

Zimbabwe’s economy is forecast to grow by 4% next year, which would be the first expansion in nearly a decade, while inflation should slow, the finance minister said on Thursday.…

Zim trade’s balancing act between China and EU

The Zimbabwean government’s isolation from the international economic arena has forced it to turn right while indicating left. The country’s Deputy Minister of Industry and…

Few cheers over Zim budget as crisis bites

President Robert Mugabe’s exchange-rate devaluation and promises of tax relief were dismissed on Friday by Zimbabweans weary of an economic crisis marked by the world’s highest…

Zimbabwe devalues currency

Zimbabwe Finance Minister Samuel Mumbengegwi on Thursday massively devalued the local dollar in a bid to attract scarce foreign currency to the official market. In a…

Zim budget seen offering tax relief

Zimbabwe is likely to offer tax relief in a supplementary budget on Thursday but may have to print more money to keep cash-strapped government departments running ahead of…