Tag: Mthuli Ncube
Monetary Policy Committee says Individuals can now transact up to US$50 per week via Bureau de Changes
These days the ZWL official rate is more or less stable and the government has also stopped rocking the boat with the rash policies like the infamous Statutory Instrument 127 of 2021. However, the Monetary Policy Committee which is responsible for crafting some of these policies is still very much in existence. Recently they met […]
Full Text: Zimbabwe receives US$961 million from the IMF
The Zimbabwean government has officially announced that they have received almost a billion US dollars from the International Monetary Fund via the institution’s Special Drawing Rights (SDR). SDR refers to supplementary foreign exchange reserve assets that are maintained by the IMF and availed to member countries if they so choose. Zimbabwe will probably use the […]
Ecobank account-holders worry as the bank says it will be backdating collection of 2% tax
It has been almost three years since Finance Minister Mthuli Ncube introduced his much-hated 2% tax. It’s still not clear why the tax was introduced, so many reasons have been given, but it is now an accepted fact of our lives. Sometimes something outrageous concerning the tax happens however and people are forced to question […]
Mthuli Ncube appoints new Monetary Policy Committee
Minister for Finance Mthuli Ncube has appointed a new Monetary Policy Committee which replace the one that was shut down at the end of January
I blame the 2% tax for the US$2.5 million robbery and others
Prof Mthuli’s 2% Tax is among the contributing factors to the increasing cases of robberies like the one that happened yesterday in Chinhoyi
The government is coming down hard on the informal sector
After spending months locked down and returning to low business the informal sector now has to contend with a government shakedown.
[Download] Ministry of Finance Progress on Economic and Structural Reforms in Zimbabwe
Minister for Finance Mthuli Ncube delivered a report on the Progress on Economic and Structural Reforms in Zimbabwe. The presentation shows the effects of the measures taken by the Finance Ministry and the Government as they try to manage Zimbabwe’s economic situation. The presentation looks at: Vision 2030 The Transitional Stabilisation Program (TSP) Economic and […]
Mthuli Ncube says Zim Stock Exchange will reopen after investigation
Finance Minister has said ZSE is under probe and will only reopen after the Financial Intelligence Unit has completed their investigations which could take as many as two weeks. We are waiting for the conclusions of the investigations led by the Financial Intelligence Unit (FIU). They should be able to conclude within the next week […]
Government gives update on digital broadcasting migration project
ZBC has been on the verge of digitisation for over half a decade now. Here at Techzim our first article on this issue was published on the 3rd of July in 2014. At the time, the article was written, there was a June 2015 deadline imposed by the ITU. We (Zim) and many other countries […]
Businesses could get away with not paying VAT for USD transactions – Mthuli Ncube on it
As far as Mthuli Ncube is concerned it’s still not dollarisation even when civil servants will be paid in pseudo USD, even when businesses are now required to display prices in USD, even when government charges for services in USD and even when today he proposes that all VAT registered business configure fiscal devices to […]
2% transaction tax is coming to USD transactions
It was a matter of time wasn’t it? The 2% tax levied on all electronic transactions by the government is such a cash cow, it is not going anywhere. The only direction we should expect it to go is upwards or sideways. Today, in his mid term budget review the minister of finance has extended […]
2020 Mid-Term Budget Review: Ministry of Finance allocating ZW$341m to e-Government program
Ah eGovernment… The conversation around eGovernance and making it easier for citizens to access government services is one that has been ongoing since 2015! In the current budget review unveiled today, eGovernance is again part of the budget and this time government is allocating ZW$341.7 million to eGovernance. In the budget review, the goals of […]
[Download] 2020 Mid-Term Budget Review
Finance Minister Mthuli Ncube shared his 2020 Mid-Term Budget review this afternoon. The Mid-Term Review details economic developments during the first half of the year, progress on implementation of the 2020 National Budget and also makes proposals for re-alignment of economic policy going forward. A big influence in this year’s Mid-Term review is COVID-19 which […]
Details emerge suggesting Zim’s National Data Centre will be used for surveillance
Remember the National Data Centre? Last November, Mthuli Ncube said that project was almost complete and whilst the project is yet to see the light of day more details regarding how the data centre will be used have emerged. An all seeing eye A report in The Standard noted that the National Data Centre will […]
ZSE CEO Shares More Details Regarding Soon To Be Launched Victoria Falls Exchange
When the government shared the budget for COVID-19 response – the Victoria Falls Securities Exchange (VFEX) was a part of that budget. At that time not much was explained beyond that this exchange was supposed to meant to attract offshore capital and that foreign companies invested in Zimbabwe will be able to seek listing on […]
Zimbabwe Printing And Pumping Money Into A Fragile Economy
The Zimbabwe ministry of finance and central bank have been promising more bank notes for some time now. Currently the only notes in circulation (besides the sometimes legal, sometimes illegal USD notes) are $2 and $5 notes which are worth about 4 and 10 American cents currently or 8 and 20 American cents respectively if […]
Government Announces Victoria Falls Securities Exchange To Attract Offshore Capital
Last night we shared the Government’s COVID-19 19 Recovery & Stimulus Package Budget and among the measures being taken is the launch of Victoria Falls Securities Exchange; Government has already announced the launch of Victoria Falls Securities Exchange (VFEX), in Victoria Falls in order to attract critical offshore capital to the economy in order to […]
Mthuli Ncube & His “Sophisticated Algorithms” For Corona Relief Funds – Another Privacy Disaster Looming?
When the government announced it would be distributing $600 million in COVID-19 Relief funds to assist vulnerable families there was some relief as it seemed the government When the fund was announced it was claimed that the Ministry of Social Welfare would prepare the database for recipients who would qualify for funding but cracks started […]
Full Statement: Mthuli Ncube’s Measures To Fight COVID 19
Here is the full statement from the Minister of Finance: INTRODUCTION 1. The Coronavirus 2019 (COVID-19) is spreading fast to the rest of the world, placing unprecedented pressure on humanitarian services as well as economic activities. 2. In view of the above impact of COVID-19 on the economy, Treasury has come up with the following […]
Mthuli Ncube Suspends ‘Trade’ Of Old Mutual, PPC And Seedco Shares In Bid To Kill Black Market
Today in an Extraordinary Government Gazette, the Minister of Finance, Mthuli Ncube has suspended the ‘fungibility’ of three stocks traded on the Zimbabwe Stock Exchange. The suspension is for 12 months from today. This is in a bid to arrest the continued deterioration in value of local currency on the parallel market. What is fungibility […]
Mobile Money Transactions To Be Scrutinised DAILY By Mthuli Ncube Task Force
On launching his Currency Stabilisation Task Force today, the minister of finance touched on mobile money specifically. Mobile money has been a scapegoat when it comes to the runaway inflation and its causative agent: accelerated decline in the value of the local currency. Ncube proposes to: Place limits on daily bulk payer transactions. Bulk payments […]
As Exchange Rates Shoot Through The Roof, Mthuli Ncube Appoints Task Force
Today the minister of Finance has announced the establishment of a ‘Currency Stabilisation Task force’ that he will chair. He says the task force will meet every week to review and work on stabilising currency exchange rates and the associated inflation which is at crazy highs now. Here is the press brief for you to […]
Mthuli Ncube: This Is How Zimbabwe’s Economy Will Overcome It’s Hurdles
Below is a write up from Zimbabwe’s Minister of Finance, Mthuli Ncube: 12 February 2020 This is how Zimbabwe’s economy will overcome its hurdles Zimbabwe’s economy will overcome the numerous hurdles which lay before us on the path towards prosperity. These obstacles are patent, and in some cases potent. But with hard work, proper planning, […]
Mthuli Ncube Video: Prosperity Is Our Dream, Things Will Be Fine
Mthuli Ncube believes in always communicating. Even when he doesn’t have much to share, he keeps the comms coming. Sometimes the effort is insulting for example the jingle his ministry produced a few weeks ago. Here is his new video: Quick NetOne, Econet, And Telecel Airtime Recharge Number to recharge: Airtime amount ($): EcoCash or […]
Mthuli Ncube Interview With Bloomberg At Davos
Here is a short video clip of Mthuli Ncube being interviewed by Bloomberg at the sidelines of the World Economic Forum 2020 in Davos. Quick NetOne, Econet, And Telecel Airtime Recharge Number to recharge: Airtime amount ($): EcoCash or OneMoney number: Buy Please dial our USSD code *405# on your phone to buy airtime because […]
Mthuli Ncube Resorts To Jingles Ala ‘Rambai Makashinga’
One of the things I have always admired about Mthuli Ncube as Finance Minister is that he makes an attempt to communicate to the citizenry. Some of what he communicates is of course not so useful and hard to believe for example he has said a number of times that things are better right now […]
Zim Wants To Launch A Satellite: What’s The Cost & What Can The Money Be Used For Instead?
Much of the talk about the budget was around Finance Minister, Mthuli Ncube’s announcement of setting aside resources for the launch of a space satellite. Many people blasted the government for committing resources to launch a satellite yet we have more pressing problems that need to be addressed. In light of that, I set out […]
Watch: Mthuli Ncube Explains Satellite Launch Remarks
Quick NetOne, Econet, And Telecel Airtime Recharge Number to recharge: Airtime amount ($): EcoCash or OneMoney number: Buy Please dial our USSD code *405# on your phone to buy airtime because this page will not work. {{error_message}} {{error_message}}
National Budget To Include Resources For Launch Of Space Satellite
During Mthuli Ncube’s 2020 Budget presentation yesterday, the Finance Minister announced that as part of Research and Development efforts the government will set aside resources to launch a space satellite: The Budget has set aside resources for the Research and Development programme, including the launch of the space satellite. Mthuli Ncube – Finance Minister As […]