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- February 7BusinessZimbabwe Central Bank Tightens Forex Controls, Raises Export LeviesThe Reserve Bank of Zimbabwe has increased foreign currency surrender requirements for exporters from 25% to 30% and mandated bank accounts for all traders in HARARE on February 7, 2025. The measures aim to boost official forex reserves amid rising US dollar inflation rates. RBZ Governor John…February 7
- February 2BusinessZimbabwe's largest bank cuts 347 jobs in restructuring moveHARARE - CBZ Holdings Limited, Zimbabwe's biggest financial services group, announced the layoff of 347 employees, representing 24 percent of its workforce, as part of a major restructuring initiative. The company confirmed the job cuts in a statement released on February 1, 2025, affecting staff…February 2
- February 1BusinessSouth Africa's New Land Law Sparks Agricultural Sector FearsFarming community warns of investment and food security risks as President Ramaphosa signs controversial Expropriation Bill allowing land seizure without compensation. President Cyril Ramaphosa has enacted the Expropriation Bill, granting government bodies power to seize land without compensation…February 1
- February 1BusinessZimbabwe Tightens Local Ownership Rules in Key Business SectorsZimbabwe's government announces stricter enforcement of laws reserving vital economic sectors for citizens, signaling a shift in foreign investment policy. Finance Minister Mthuli Ncube declared Zimbabwe will strengthen enforcement of the Indigenisation and Economic Empowerment Act, restricting…February 1
- January 31BusinessEdgars Zimbabwe Plans 20 New Stores to Combat Used Clothing TradeHARARE - Edgars Stores Limited will open 20 new Express outlets across Zimbabwe this year, investing US$10,000 per store to compete with the growing second-hand clothing market. The expansion comes as the retailer reported increased losses of US$338,292 in the half-year to July 2024. Group CEO…January 31
- January 31BusinessEskom Warns of Weekend Load Shedding After 10-Month ReprieveJOHANNESBURG - Eskom has warned of possible load shedding this weekend, potentially reaching Stage 4, following more than 10 months of stable electricity supply. The announcement came as the utility battles multiple generation unit breakdowns and depleted emergency reserves. Group Chief Executive…January 31
- January 23BusinessE-hailing drivers protest vehicle impounding in PretoriaOperators demand action on permit backlog as metro police seize vehicles over licensing issues. Gauteng e-hailing drivers staged a protest in Pretoria on Thursday against the impounding of their vehicles by Tshwane metro police, citing a massive backlog in operating permit applications. Wonder…January 23
- January 17BusinessZimra Intensifies Crackdown on Smuggled GoodsZimbabwe's tax authority intensifies anti-smuggling operations targeting illegal cross-border trade as retailers face stock pressures. The Zimbabwe Revenue Authority (Zimra) has strengthened its campaign against smuggling along South African and Mozambican borders, focusing on criminal networks…January 17
- January 16BusinessTemu Marks First Anniversary in South AfricaOne in three South Africans have used Temu since its launch, with survey showing strong consumer adoption of the e-commerce service. Temu has established a significant presence in South Africa's retail landscape during its first year of operations, with a new survey revealing widespread adoption…January 16
- January 16BusinessTongaat Hulett Zimbabwe to Lay Off 1,000 WorkersTRIANGLE, CHIREDZI- Tongaat Hulett Zimbabwe, one of the country's largest sugar producers, has announced plans to lay off 1,000 workers by August 2025. This decision is part of a broader strategy to manage rising operational costs, driven by the nation's inflation and currency instability. The…January 16
