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What If There Was Never Any $15 Billion To Start With?

I almost wrote this article five weeks ago but I aborted mission. First, I asked myself what mining had to do with Techzim and then I was a bit scared to antagonise the readership here with nothing but my conjecture. Why have I written the article now? First, it’s about the macro economics not mining […]

Wanna Learn Photography and Video Editing on Your Phone? Register For This Citizen Journalism Workshop.

I just came across a flier sent in one of the WhatsApp groups that I’m in and I found it interesting. The flier was advertising a workshop on “Mobile Reporting For Community Journalism In Zimbabwe”. I remember during the coup-not-coup, Techzim wrote on how technology particularly smartphones, the internet and social media had played a […]

Beitbridge Delays: ZIMRA Losing Millions Because Of Bureaucracy In Procurement Procedures

You might be aware that there are long queues over at the Beitbridge border post because ZIMRA’s Asycuda system is down. We wrote about how ZIMRA employees are having to manually record import and export documents which is slow as you can imagine. All borders are affected but Beitbridge being the busiest border in Southern Africa […]

First Mutual Got Approval To Acquire NicozDiamond: Led To High Trade In Nicoz Shares

In what has been a bit of a roller-coaster, the Zimbabwe Stock Exchange (ZSE) Industrial index shed 1.36% yesterday mainly due to Econet’s losses. Since the transition of power from Mugabe to President Mnangagwa the ZSE market capitalisation has been seesawing around the $9 and $10 billion range. On Tuesday the 19th of December the […]

ZIMRA Records 30% More Revenue Than Projected In November

ZIMRA (Zimbabwe Revenue Authority) is reported to have done well in the last month. In fact, they did almost 30 percent better than they had expected for the month. See with entities like ZIMRA it’s hard to establish what emotion to tie with such news. Yes, we’re glad that whenever ZIMRA generates revenue, the country […]

Afreximbank To Loan $1.5b To Zimbabwe And Provide Guarantees To Foreign Investors

The African Export Import Bank (Afreximbank) said they will avail a loan to the tune of $1.5 billion to Zimbabwe to assist with the economic recovery process. The president and chairman of Afreximbank Okey Oramah visited president Mnangagwa here in Harare. The bank pledged to continue to support Zimbabwe as they have even when the country […]

ZSE Drops By 10% In Pres. Mnangagwa’s Second Week, Foreigners Still Net Buyers

In the first week of President Mnangagwa’s administration the Zimbabwe Stock Exchange (ZSE) registered growth as the downward trend the exchange had been on reversed. Prior to the swearing in of the new president, the stock market had been in a free fall. Analysts assured us all that it was a market correction which actually […]

Finally Chinamasa Speaks Truth On Causes of Cash Crisis And the Parallel Exchange Rate

One of the most epic responses to any question ever was by Patrick Chinamasa when he was asked earlier this year about the trading of the USD and other currencies on the streets. He said he did not know about any such activity because he was not there when it happened. Huh? In his recent 2018 […]

Tendai Biti is Wrong; Chinamasa’s Budget Is Much More Than Lipstick

Tendai Biti who was the Minister of Finance in the Inclusive Government of 2009-2013 and is a principal in the opposition MDC Alliance has come out strongly against the 2018 National Budget delivered to Parliament on Thursday the 7th of December 2018. Biti labels the budget a ‘lipstick measure.’ Whatever that means. His argument is […]

Various Bills To Improve Ease And Cost Of Doing Business In Zim To Be Fast Tracked

The National Budget 2018 is exactly what we were hoping for when it comes to measures to attract and retain foreign investment. Finance Minister Chinamasa revealed the government’s plans to make it worthwhile for investors to come to Zimbabwe with their briefcases full of cash knowing they can get reasonable returns. The Minister revealed that Zimbabwe […]

BREAKING: Indegenisation Act Amended, Removing Requirement For Foreigners To Give Up 51% Ownership

Making the 2018 National Budget Presentation on Thursday afternoon, Finance Minister Patrick Chinamasa submitted a Finance Bill amending the Indigenisation and Empowerment Act. The Bill to take effect from April 2018. We have been imploring the government to amend that Indegenisation Act if we are to attract investment into Zimbabwe. The effect of requiring foreigners to […]

Government Prohibits Importation Of Fuel By The Public, That’s Quite Peculiar

Back in 2015, Statutory Instrument 171 was amended to allow members of the public to import up to 2000 litres of fuel per month for personal use. The Zimbabwe Energy Regulatory Authority (ZERA) has however notified us that the Statutory Instrument (SI) which allowed us to do that has been repealed. It is quite strange […]

IMF To Send Mission; US, Britain And China Ready To Work With Zimbabwe

It’s all happening. The international community is ready to engage Zimbabwe again. Powerful nations and organisations in both the west and the east express optimism in the future of our nation. IMF In order for the country to rise again funding is needed and this is where organisations like the International Monetary Fund (IMF) come […]

Zim Stock Exchange (ZSE) On The Rebound As Foreigners Buy More Shares

The self correction we were witnessing on the Zimbabwe Stock Exchange (ZSE) seems to be over as the ZSE is now rising. The stock market capitalisation had reached $15 billion just before the military takeover as investors panic bought shares. As was warned by analysts the capitalisation fell from $15 billion to around $9 billion as […]

Externalisation: How Big Companies Contributed To The Cash Crisis

It has been revealed that over $3 billion was externalised from Zimbabwe from 2015 to June 2017. Now if you consider that Zimbabwe’s GDP was just over $16 billion for both 2015 and 2016, a total of about $32 billion, the $3 looks significant. It’s almost 10% of the GDP in that period. Just how […]

Should Zimbabwe Accept A Loan From Britain To Pay Back Its Creditors?

No country is an island. Okay, some are literally islands but no country is an island, figuratively. Still, some appear to be islands. Let’s leave the analogy then, what we are trying to say is that a country needs other countries to succeed. Zimbabwe has been in trouble for the last couple of decades because […]

Could It Be We Missed That Bond Notes Actually Served Their Purpose?

Before you light your torches to burn me alive, I am well aware of the current situation as regards bond notes. Ever since their introduction at 1:1 with the USD, bond notes have been on a steady decline. Granted that decline has reversed since President Mnangagwa took office. I know that some saw the bond […]

Does A New President Equal An Improved Economy?

I’m still kinda in the celebratory mood after the firing of our Vice President, then coup-not-coup, then resignation of our dear President and finally installation of a new leader. It’s been a very interesting month and if you laid your head down to rest for a minute too long you may have missed it all. […]

Bond Note:USD Exchange Rate Falls, ZSE Drops $6b In 8 Days As Markets Self Correct

We have been religiously following the events on the Zimbabwe Stock Exchange (ZSE) over the last few weeks, for good reason. The experts say the stock market reaction is one of the primary indicators which speaks to investor sentiment. We have also been keeping an eye on the black market bond note to the USD exchange […]

Imports From South Africa Close To $2b In 10 Months, Trade Deficit Decreases Though

In the 10 months, January to October 2017 Zimbabwe had a trade deficit of $1.6 billion. The imports during that time reached $4.5 billion against exports of only $2.9 billion. It sometimes feels like a catch-22 situation in Zimbabwe where imports are high because exports are low and exports are low because imports are high. […]

Govt Pays ZESA $155m, Still Owes $445m

The government, through its departments and local authorities owed ZESA about $600m. Back in June the government said it would issue Treasury Bills to clear that debt. That did not come to be. The government has however been slowly paying up what it owes and the ZESA CEO revealed that of the $600m debt about $155m […]

Increased Activity On The ZSE The Day After Mugabe’s Resignation, Turnover Up 384,63%

We have been following the performance of the Zimbabwe Stock Exchange (ZSE) religiously these past few months. We saw how the ZSE became the best performing stock exchange in the region in the few months leading up to November, reaching unprecedented heights when market capitalisation reached $15 billion. Then we saw the tumble that began […]

ZSE Dropped $5b in 5 days But Foreigners Were Net Buyers On The Day Mugabe Resigned

If you recall, it was earlier this month when the Zimbabwe Stock Exchange (ZSE) hit $15 billion in market capitalisation for the first time. It was no cause for celebration however as that performance was attributable to panic buying of shares which in turn led to overvaluation of the counters. Analysts warned that there would […]

Industry Is Calling For Slashing Of ZESA Tariffs, Is That A Reasonable Request?

Here is the scenario on the ground: ZESA charges US9.8c/kWh to everyone except for chrome producers who are charged US6.7c/kWh. The prevailing rate in the southern African region is around US6c. Industry The Confederation of Zimbabwe Industries (CZI) is calling on ZESA to revise their tariffs downwards to bring them in line with the rate […]

Govt Relaxed Import Restrictions On Basic Goods And That Is Worrying

The Zimbabwean government introduced the Statutory Instrument 64 of 2016 (SI 64) to control the import of basic goods that can be manufactured locally. This was meant to protect local industries and also to reduce the outflow of foreign currency. The SI 64 was met with resistance as traders cited that there was not enough […]

ZSE Drops $2.7b In Two Days As Investors Panic-Sell Shares Amid Political Uncertainty

To understand what the $2.7 billion drop means we first have to look at the events preceding the not coup coup Historic performance on the ZSE Just two weeks ago we were celebrating as the Zimbabwe Stock Exchange market capitalisation hit $15 billion for the first time ever. Okay, celebrating is not really the right […]

Zimbabwe epayments rise to $2 billion worth of transaction in a week.

Just a few weeks ago we were astonished when we learned that the Reserve Bank of Zimbabwe (RBZ) had recorded $11 billion worth of transactions in 9 months i.e January to September 2017. Well, it only gets better. According to The Source, in the last week of October 2017, Zimbabwe transacted a total of $2 […]

Bitcoin has been trading at a 100% premium in Zimbabwe, will it continue to do so if things change after the military takeover?

Recently, the number one issue which made journalists from outside Zimbabwe call Techzim for a comment has been Bitcoin. Why? Bitcoin was (and still is) trading at a premium in Zimbabwe. On Tuesday the 14th of November 2017 the rate of Bitcoin against the USD in Zimbabwe was almost twice that of the international rate. […]

How A New Zimbabwe Can Deal With The Cash Crisis

There has been a cash crisis in Zimbabwe for years now. The Reserve Bank of Zimbabwe which initially denied that was the case was forced to acknowledge the crisis as queues at banks refused to go away despite the central bank’s best efforts. With the central bank acknowledging the cash crisis they had to give […]

RBZ to more than double the number of BOND NOTES in circulation this month

The RBZ has said that they are adding another $300 million worth of bond notes (I call them notes of bondage) by the end of November. They say this is again supported by another facility from the African Export and Import Bank (Afreximbank). Perhaps Ignatius Chombo, the new minister of finance (it still surprises me) […]