Godfrey Marawanyika

Zim junior minister granted bail in corruption case

Zimbabwe's junior information minister, Bright Matonga, and a co-accused were granted bail of Z-million () on Wednesday following their arrest for corruption. Police detained Matonga as well as Charles Nherera, chairperson of the state-owned Zimbabwe United Passenger Company, late on Tuesday in the capital.

‘In Zim, nothing goes down except the country’

Becoming a millionaire in Zimbabwe is easy these days, but wallets and purses have given way to car boots and suitcases as the crucial accessory for carrying wads of nearly worthless cash. As the country battles hyper-inflation and grinding fuel and foreign exchange shortages amid a seven-year economic slump, ordinary citizens have resigned themselves to wry humour to deal with the situation.

Zimbabwe’s trade union to mull mass strikes

Zimbabwe's main labour union begins on Friday a two-day meeting to decide whether to go ahead with planned mass strikes to protest against galloping inflation and grinding poverty. Zimbabweans are battling to make ends meet as the country goes through its seventh consecutive year of economic recession and astronomical inflation, which hit an all-time world record rate of 1 042,9% last week.

Zim postpones release of inflation figures

Zimbabwe on Wednesday postponed the release of monthly figures that were expected to show the country's inflation cross the 1 000% threshold, one of the highest rates in the world. Samuel Undenge, deputy minister for economic development, said the results were not released "because of a logistical issue" but would be announced "in due course".

Zimbabwe considers taking back its white farmers

Zimbabwe is ready to allow the return of white farmers who were driven off their farms under President Robert Mugabe's land reform programme, the agriculture minister told Agence France-Presse on Wednesday. But minister Joseph Made denied that the new openness toward white farmers marked an about-face in land-reform policies that have been widely criticised as a failure.

Zimbabwe in the throes of an ‘economic meltdown’

Zimbabwe celebrates 26 years of independence from Britain on Tuesday with a shadow of seven years' economic woes hanging over its freedom day. Zimbabwe gained independence from colonial master Britain on April 18 1980 after a protracted liberation war against white Rhodesian settlers, with President Robert Mugabe then winning plaudids for his conciliatory attitude to minority whites.

Mass strikes loom as Zim’s economy worsens

The possibility of mass strikes loom on the horizon for Zimbabwe's embattled economy as workers demand higher wages to cushion them against soaring living costs because of hyper-inflation and shortages of foreign currencies. Wage talks opened two weeks ago and were expected to continue until the end of the month in Zimbabwe, where large-scale labour action could become a reality for the first time in eight years, according to unionists.

Zimbabwe averts IMF expulsion

Zimbabwe has averted expulsion from the International Monetary Fund with a fresh payment on its debt arrears but is far from gaining good standing with the global lender, economists said on Thursday. ''We have got to make a lot of commitments that we will be able to repay new loans and change a lot of political policies that led to our economic problems,'' said economist John Robertson.

Zimbabwe’s banks are unsafe, says IMF

The International Monetary Fund (IMF) has expressed concern over the country's banking sector, which it says is a credit risk. Analysts say this means that incidents of bad debt in the financial sector are high.

Zim govt after ‘mercenary’ plane, cash and their boots

The Zimbabwean government wants to keep the plane that flew the suspected mercenaries into Harare and the 000 the men had on them when they were arrested. It is also after their boots. The plane is valued at between -million and -million, but no valuation was immediately available for the mercenaries' boots.

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