TREASURY says financial crimes, such as fraud, smuggling, tax evasion, illicit deals in precious stones, metals, and drugs, are on the increase, disenfranchising public coffers of much-needed revenue. This comes as the latest data from the Financial Intelligence Unit shows that Zimbabwe lost an estimated US$6,15 billion in illicit proceeds from financial crimes between 2019…
TREASURY says financial crimes, such as fraud, smuggling, tax evasion, illicit deals in precious stones, metals, and drugs, are on the increase, disenfranchising public coffers of much-needed revenue. This comes as the latest data from the Financial Intelligence Unit shows that Zimbabwe lost an estimated US$6,15 billion in illicit proceeds from financial crimes between 2019…
THE government says all foreign currency-denominated assets will be safeguarded during the transition to a ZiG-anchored mono-currency system, allaying fears of financial losses in previous currency shifts. According to the 2026 national budget, the ministry of Finance said the transition to a mono-currency system will not impact existing foreign currency accounts, US dollar-denominated financial instruments,…
THE government says the computerised Mining Cadastre Information Management System is now 90 percent complete and is scheduled for commissioning in the first quarter of 2026. The development marks a significant step toward transparency and streamlining the nation’s mining rights administration. Minister of Finance Mthuli Ncube said the system is critical for enhancing the ease-of-doing-business…
FOREIGN direct investment into Zimbabwe is expected to reach US$847 million next year, as the government steps up efforts to improve the business operating environment. In his 2026 national budget statement, Finance minister Mthuli Ncube said foreign direct investment (FDI) inflows grew from US$151 million in 2020 to an estimated US$799 million in 2025. “Since…
MUTAPA Investment Fund (Mutapa) deployed over US$100 million to state-owned entities under its management to boost operations and viability as of September 2025. Minister of Finance Mthuli Ncube said the funds were deployed in direct capital injections, partnerships, and joint ventures. He said the results show a material turnaround, with 53 percent of the state-owned…
ZIMBABWE’s foreign currency receipts increased by 21 percent to US$13 billion during the first 10 months of 2025, sustained by a growth in export earnings and remittances, latest data shows. According to the Reserve Bank of Zimbabwe (RBZ), the country continues to record strong foreign currency inflows, with foreign currency reserves backing the ZiG reaching…
CAPACITY utilisation in local mines is expected to surge to 95 percent in 2026, from 88 percent this year, as the sector ramps up production, a survey by the Chamber of Mines of Zimbabwe has shown. According to the State of the Mining Industry Survey Report, key sectors anticipated to drive the improvement in capacity…
THE Zimbabwe Revenue Authority (Zimra) should develop sector-specific strategies to bring startups, micro-operators and small enterprises into voluntary tax compliance, an official has said. Deputy minister of Finance, Kudakwashe Mnangagwa, highlighted the urgent need for a focused approach, noting that approximately 70 percent of the national economy currently remains informal or hidden from the tax…
ZIMBABWE’s platinum production is expected to decline by four percent this year to 493 000 ounces, weighed down by the absence of a drawdown of semi-finished stock that boosted last year’s volumes, latest data shows. According to the World Platinum Investment Council (WPIC), while the country remains a key player in the global market, short-term…
AFRICA’s richest man, Aliko Dangote, has credited Zimbabwe’s improved operating climate and policy transparency as the catalyst for his group’s new multi-billion dollar investment plan for the country. The Nigerian billionaire said he plans to invest as much as US$1 billion in Zimbabwe to build cement and power plants as well as a fuel pipeline.…
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