Civil Engineer: Contract (Hwange)

Auto Electrician (Hwange)

Attachee: Sales and Marketing (Harare)

Planning Officer (Bulawayo)

Receptionist (Harare)

Semi-Skilled Cook (Chipinge)

IT Officer

Human Resources Officer

Stores Assistant

Project Coordinator

Graduate Trainee: Agronomy (Chisumbanje)

Estimator – Auto Body Centre Harare

Apprenticeship Trainee- Millwright

Graduate Trainee Program (Traineeship)

Students On Attachment (Various Departments)

Information Technology Graduate Trainee (Chisumbanje)

Counselor

Field Officer

Project Driver (Hwange)

Registered General Nurse (RGN) (Harare)

Intensive Care Nurse (ICN) (Harare)

Sales Agents x50

Tobacco Programmes Officer (Harare)

Payroll Clerk (Harare)

Merchant Services Manager (Harare)

Library Technical Assistant

Assistant Binder

Broadcast Technician

Research, Innovation and Industry Linkage Officer (RIILO)

Safety, Health and Environmental (SHE) Officer

Procurement Officer

Intellectual Property Management Officer

Research Officers x2

Business Development Officers x2

Innovation Lead (Engineering)

Innovation Lead (Arts & Creative Industries)

Innovation Manager

Public Health Specialist: Prevention, Care & Treatment (Harare)

Driver (Kariba)

Relief Drivers x8

Business Intelligence Analyst (Harare)

Contact Centre Agent-1 (Harare)

Switchboard Operator (OMAO) (Harare)

Procurement Manager (Bulawayo)

Auditor - ICT & Internal Control (Harare)

Legal Officer (Harare)

Auditor (Harare)

Director General (Harare)

The Reserve Bank of Zimbabwe (RBZ) has revealed the reserve money supply as of the 4th of March 2022. The central bank said in a statement:
<blockquote>
<h2>RESERVE MONEY</h2>
1. Reserve money increased by ZW$26.95 million to ZW$27.16 billion during the week ending 11th March 2022, compared to the previous week’s position of ZW$27.13 billion.
2. The increase in reserve money largely reflected an increase of ZW$72.99 million in currency issued, which was partially offset by declines of 
ZW$38.10 million and ZW$7.94 million in banks liquidity (RTGS balances) at Central Bank and required reserves, respectively.
<h2>Download <a href="https://t792ae.c2.acecdn.net/wp-content/uploads/2022/03/Reserve-Money-Update-11-March-2022.pdf">Reserve-Money-Update—-11-March–2022</a></h2>
</blockquote>
<h2>More: Pindula News</h2>

Pindula News

RBZ Reserve Money As Of 11 March 2022

<a href="https://www.pindula.co.zw/Trevor_Ncube">Trevor Ncube,</a> the chairman of Alpha Media Holdings, last week announced that <a href="https://news.pindula.co.zw/2022/03/20/watch-zimbabwe-worse-under-mnangagwa-than-during-mugabe-era-trevor-ncube/">he was quitting</a> the <a href="https://www.pindula.co.zw/Presidential_Advisory_Council_2019">Presidential Advisory Council (PAC)</a> citing a lot of issues bordering on President <a href="https://www.pindula.co.zw/Emmerson_Mnangagwa">Emmerson Mnangagwa</a>‘s failure to transform the country’s fortunes. 
The PAC was formed in 2019 to advise the president on various matters including religion, and business. Some of the PAC members have since left. We present below a list of things that were said by Ncube as he quit PAC:
<blockquote>
1). Why he gave Mnangagwa a chance: He said Mnangagwa played a role in the massacre of 20 000 people in Matabeleland. When he joined PAC, he thought the president was willing to “make amends” for the <a href="https://www.pindula.co.zw/Gukurahundi">Gukurahundi</a> which has remained a topical one since the 1980s. 
2). 2017 coup: The people who toppled Mugabe in a 2017 coup did not do it to advance the national interest, but to champion their personal interests.
3). Mnangagwa worse than Mugabe: He says Mnangagwa is worse than his predecessor, the late former president <a href="https://www.pindula.co.zw/Robert_Mugabe">Robert Mugabe</a>. He said he believed Mnangagwa deserved a chance and after being Mugabe’s top lieutenant for years, he had learnt things that should be made right. Ncube explained that Mnangagwa has mutilated the constitution, making the judiciary biased for him. 
4). Business opportunities: He also speaks of what he says are business opportunities in Zimbabwe.
i). Cannabis industry:, laws are being fine-tuned to allow investors to come and invest, licences will cost US$57.
ii). Housing Infrastructure: There is also building boom sponsored by diaspora remmittances.
iii). Agriculture: Cotton the second-largest crop. Soya beans – we-re producing about 30 per cent of our national requirement. The return is 200 per cent. Tobacco – the golden leaf, which contributes 11 per cent . He noted that one of the issues affecting the Agriculture sector is that the Southern African country machineray is archaic. Irrigation equipment has not been renewed since the end of the Universal Declaration of Independence (UDI).
iv). Tourism: Victoria Falls, Kariba etc have the potential to contribute significantly to the GDP. The collapsed transport system is hindering the full-growth of the industry.
v). Mining: Zimbabwe is a mining country has over 40 occurances of minerals – diamond, platnum, gold, lithium (largest deposit of lithium on the African continent), Oil and gas being explored in Muzarabani.
vi) National Infrastructure: National infrastructure has not been repaired for years. Road networks declared a national disaster. It’s a crisis and also an oportunity for businesses.
5). Zimbabwe a dual economy: Zimbabwe’s economy is now being driven by the informaal sector while the formal sector is assuming a retreating role. Ncube added that nobody has confidence in the local currency, the Zimbabwe Dollar. The government is saying we are moving away from dollarisation but reality on the ground shows that the country is actually dollarisation. He accuses Finance and Economic Development Minister, Mthuli Ncube of lying essentially.
6). No confidence in CCC: Ncube also said “I have no confidence in the MDC now caled something else” in apparent refence to the Citizens Coalition for Change (CCC), a party led by Nelson Chamisa. He says NO one seems to have the capacity to turn around the country’s fortunes. 
7). ZANU PF Influence: ZANU PF way of doing things (Corruption, violence) is being implemented in all other political parties and by individuals in personal life.
</blockquote>
<h2>More: <a href="https://news.pindula.co.zw/">Pindula News</a></h2>

LISTICLE: Things Said By Trevor Ncube As He Quits Mnangagwa's PAC

The Zimbabwe Energy Regulatory Authority (ZERA) has reduced the prices of diesel and petrol for the week 21 to 27 March 2022.
Diesel now costs US$1.60 and ZWL$213.90 per litre while the price of petrol has been reduced to US$1.59 and ZWL$213.49 per litre.
Before the price adjustment, the price of diesel was US$1.68 and ZWL$218.01 per litre while the price of petrol was US$1.67 and ZWL$216.78 per litre. ZERA said in a public notice:
<blockquote>
Prices have been set in accordance with oil price patterns on the international market, which the Authority is continuously monitoring.
The public and operators are advised that the blending ratio remains at E0.
Operators may sell the petroleum products below the prescribed prices depending on their trading advantages and should display prices in a prominent place as provided for by the fuel pricing regulations.
</blockquote>
<img alt="Image" decoding="async" src="https://pbs.twimg.com/media/FOUQdSSXEAQ6P5C?format=jpg&amp;name=large"/>
<h4>More: <a href="https://news.pindula.co.zw/">Pindula News</a></h4>

ZERA Reduces Diesel And Petrol Prices

Stanbic Bank Zimbabwe has donated reusable sanitary pads to 775 primary and secondary school girls from across the country worth $ZWL1 426 000.00 as part of its commemoration of women’s month.
The Standard Bank Group subsidiary partnered with Talia Network – an organisation that represents the interests of the girl child and donated sanitary wear to girls from Musara Primary and Secondary Schools in Glendale (50 Km North West of Harare); Pote Secondary School in Domboshava and Mukombami High School near Bhora Growth Point.
About 280 girls from Musara Primary and Secondary Schools, 250 girls from Pote Secondary School and 245 from Mukombami High School received sanitary wear courtesy of Stanbic Bank with the support of Talia Network over the last week. Each girl received a pack with reusable pads and undergarments.
Stanbic Bank Marketing Manager for Sponsorships, Events and CSI, Lucy Dlodlo said Stanbic Bank is committed to the wellbeing of the girl child hence the effort to meet these girls’ sanitary wear needs. Said Dlodlo:
<blockquote>
As a financial services institution we are committed to supporting the community we operate in, and the underprivileged girl child and her needs are among our top priorities.
We understand the challenges faced by girls in terms of securing or sourcing sanitary wear and once again we partnered with Talia Network to make this gesture for the girls.
</blockquote>
She said Stanbic Bank has over the years supported school girls, especially during women’s month through the donation of sanitary pads, adding that going forward this is going to be an annual activity.
In 2018, Stanbic Bank female employees raised over 900 packets of disposable pads and were complimented by 2 500 packets of non-disposable sanitary napkins purchased by the bank for disadvantaged girls living in rural areas.
The donation was aligned with the commemoration of International Women’s Day in March as the Stanbic ladies aimed to celebrate this day in a more impactful manner.
Talia Network Founder, Saliwe Zakaria, was on hand to offer invaluable information to the girls about how to use the pads as well as keep them clean.
Zakaria’s organisation, which makes pads, goes the extra mile to train recipients not only about hygiene but livelihoods and life skills.
<h4>More: <a href="https://news.pindula.co.zw/">Pindula News</a></h4>

Stanbic Bank Donates Sanitary Wear To Schoolgirls

Invictus Energy, an Australian company has signed an agreement with EXALO for a drilling assignment set for June.
Romania-headquartered Exalo Drilling SA, has been given a huge task, which could determine the future of Invictus Energy that is hoping for a game-changing gas or oil find at the Muzarabani-based Cabora Bassa oilfields.
Results of the drilling assignment will also have a huge bearing on Zimbabwe’s future. Exalo has agreed to drill Invictus’ first of two US$20 million test wells at the oilfields.
In a statement last week, Invictus expressed its confidence that there were high chances that massive oil deposits in Zimbabwe’s Zambezi Valley region.
Invictus said a binding drilling rig contract with Exalo has been inked. Said the company in a shareholder update:
<blockquote>
Invictus is pleased to confirm it has executed a binding drilling rig contract with Exalo Drilling South Africa to drill the Muzarabani-1 exploration well and an option for an additional exploration well for the basin opening drilling campaign, scheduled to commence in June 2022. 
</blockquote>
It has been a long journey for Invictus, which came to the Zimbabwean scene in 2015, when talk of oil or gas reserves in Zimbabwe resurfaced.
Mobil, the global oil giant, had explored, and abandoned the Zambezi Valley in the 1990s, but after collecting vital data, now worth about US$3 million, it attracted Scott Macmillan, the Invictus chief executive officer, to try his luck.
Macmillan, a Mobil veteran, last week said he had finalised processing the Cabora Bassa 2D Seismic Survey, with data interpretation underway.
But early signals have revealed “multiple trapping geometries and a target rich hydrocarbon environment”.
Invictus has identified several potential well locations for the Muzarabani-1 well and “is maturing additional prospects identified from the CB21 survey for a second well to be drilled in the upcoming campaign. 
More: NewsDay Zimbabwe

Muzarabani Oil: Invictus Sign Agreement With EXALO For Drilling Campaign

The Reserve Bank of Zimbabwe (RBZ) has in terms of Section 13 Microfinance Act [Chapter 24:30], registered and authorised Ndoro Microfinance Bank Limited to conduct deposit-taking microfinance business.
In a statement, seen by Pindula News, the central bank said Ndoro Microfinance Bank Limited was licensed in 2021. Reads the statement issued this Friday:
<blockquote>
<h2>Registration and Authorisation to conduct deposit-taking microfinance business</h2>
<h2>NDORO MICROFINANCE BANK LIMITED</h2>
It is hereby notified that Ndoro Microfinance Bank Limited, which was licensed in 2021 as a deposit-taking microfinance institution, has been authorized to conduct deposit-taking microfinance business in terms of the Microfinance Act [Chapter 24:30], following a successful pre-opening inspection of the institution’s readiness to commence deposit-taking microfinance business. Authorisation to commence the conduct of deposit-taking microfinance business is hereby granted with effect from the date of this Public Notice.
Registrar of Microfinance Institutions
</blockquote>
<h2>More: <a href="https://news.pindula.co.zw/">Pindula News</a></h2>

RBZ Authorises Ndoro Bank Limited To Conduct Deposit-taking Business

Respect Gwenzi, a financial analyst and MD of Equity Axis, has said the depreciation of the Zimbabwe dollar is a sign that underlying economic fundamentals are not yet sound.
Gwenzi speaks when the rate at which the Zimbabwean dollar (Zimdollar) is losing value against the United States dollar on the formal exchange market is very steep and breaks all prior records since June 2020.
Zimbabwe reintroduced the Zimbabwe dollar in June 2019 and declared it the sole legal tender in the country apparently putting an end to a decade-long multicurrency regime.
Before the current steep sloping trend, the Zimbabwe dollar had enjoyed “relative stability, a fair decline compared to the past, but not entirely a stable performance when looked at against other currencies or juxtaposed against the broader economic performance of the country,” Gwenzi opines.
Gwenzi also said the period of relative stability began when the auction market was introduced in June of 2020, following which the value of trading went up and the rate of decline eased. Said the analyst:
<blockquote>
We viewed this not as a pure form of stability. We were of the view that while the pace of decline has slowed down, the slower movement was still concerning and impacting negatively on trading and other operations in the economy.
We concluded that the currency was not yet stable and even as there was no indication of stability on the near term. These conclusions were based on the view that underlying economic fundamentals are not yet sound.
The Zimbabwe dollar this week lost 2.9%, its second-worst performance since the beginning of the year. So far in the year, the auction market has conducted eight weekly sessions and cumulatively lost 20.7%.
The outturn is not so much below the 2021 full year depreciation of 28 per cent. Gwenxi predicts that at this pace, the Zimbabwe dollar would have lost as much value as it lost last year, by mid of April, a period of just three and half months.
When the Zimbabwe dollar was reintroduced, authorities said underlying economic fundamentals had been satisfied. In 2020, Finance Minister, Professor Mthuli Ncube said, “austerity measures and the reclaiming of Zimbabwe’s monetary and fiscal fate have put our economic vision on firm foundations.” He added:
I have taught this mantra at some of the world’s finest universities, and it remains true: If the fundamentals are right, growth will follow.
<h2>The building blocks to a stable currency – Gwenzi:</h2>
1). the government has shown a willingness to liberalise the economy and with it the currency. Liberalisation of the economy and the currency, over time reduces rent-seeking behaviour, which would have been motivated by a subsidy approach. For example, the Zimbabwe government was highly subsidising fuel, before the liberalisation of the commodity trade. The market was paying about half the price and the rest was paid by the government and more purely by exporters, whose export receipts were ceded at sub-optimal levels through the surrender scheme.
2). Those with access to formal market funding would source and procure commodities but go on to sell the products at prices higher than the auction rate. It is still the case for most operators whose effective exchange rate is way higher than the auction market. However, it is the overall levels that we consider to have subsided and therefore encourage market economics.
3). Without a market-based approach, the currency cannot be stable or deemed to be stable because of the levels of manipulation that would be going on in the background.
4). The government has also improved on fiscal discipline which has ensured that a budgetary balance be achieved. Between 2019 and 2021, a marginal budget surplus has been achieved. This means expenditure has been kept under control and in line with the budget. Without the excesses, deficits are minimised and borrowings to finance off-budget expenditure are also curtailed.
5). This was one of the biggest economic destabilising factors during the second half period of dollarisation. The government resorted to excessive borrowings through the issuance of Treasury Bills (TBs) and at peak, outstanding TBs issues totalled US$8.2 billion. At the respective time, Zimbabwe’s Gross Domestic Product (GDP) was estimated at US$18 billion, while foreign debt totalled US$10 billion, which meant that the overall debt to Gross Domestic Product ratio was way over 100%. The country’s ability to service both the local and foreign debt was just not there and this may have been another factor to motivate the reintroduction of the local currency.
6). Introducing the local currency meant that the internal debt component of the overall debt would vanish like that, resulting in the reduction of total debt by almost 50%.
This was a bonus to the government. A balancing fiscus is considered a positive factor and condition leading to currency stability. However there are other factors that influence its stability. For an example, a country can achieve a fiscal balance by merely reducing its expenses and not necessarily growing its income (GDP).
7). Looking at the Zimbabwe scenario, the budgetary balance that has been achieved over the years is a result of higher inflation, which has eroded incomes and hence deflated salaries to the extent that the civil service is now earning almost a third of dollarisation incomes. The real challenge becomes that of sustaining the run into the future. It is not possible to grow the economy under such conditions and even avoid incidences such as civil unrest.
</blockquote>
Gwenzi says the present form of budgetary balances is not sustainable and hence cannot be relied on in determining that the fundamentals are in shape.
Sound fundamentals will entail that the economy builds sufficient foreign currency reserves, achieves growth in national income and revenues, reduces taxation levels, upgrades infrastructure, restructures parastatals and other quasi-fiscal entities, uproots corruption and upholds the rule of law.
More: <a href="https://www.theindependent.co.zw/2022/03/18/zimdollar-fall-sign-of-weak-fundamentals/">The Independent</a>

Depreciation Of The Zimbabwe Dollar A Sign That Economic Fundamentals Aren't Yet Sound - Analyst

Beneficiaries of the Reserve Bank of Zimbabwe (RBZ)’s foreign currency exchange auction have bemoaned the delays by the central bank in disbursing allocated funds. 
This comes barely weeks after RBZ governor, Dr John Panonetsa Mangudya announced that the forex backlog of about US$200 million had been cleared. 
Confederation of Zimbabwe Industries (CZI) president, Kurai Matsheza Wednesday lamented over the protruding backlog which he said had exacerbated an already dire industrial machinery crisis.
The foreign currency auction system ran into problems about a year into existence last year, amid reports that the central bank was struggling to honour allocated funds.
However, the Reserve Bank of Zimbabwe (RBZ) said in the 2022 Monetary Policy Statement it would ensure settlement of auction bid allotments within a period of two weeks.
Speaking to NewsDay Zimbabwe, Matsheza said:
<blockquote>
Our members are currently sitting on some huge backlogs in terms of monies allocated at the auction. 
Businesses have got to survive and can’t wait for long to really bring in whatever, be it equipment or raw materials. Obviously the reserve bank has got to allocate what is available so that these backlogs do not grow.
</blockquote>
Matsheza added that the availability of foreign currency on the auction will have an influence on the market rate. 
The Zimbabwe dollar, is traded at about 250 per every United States dollar while the RBZ pegged it at US$1:$134
Matsheza says the status quo will inevitably continue as long as forex supply on the auction remains depressed.
As a result of the auction backlog, companies are turning to the parallel forex market to source foreign currency as seen by the increase in companies raising prices of goods and services in response to the parallel rate.
Matsheza’s remarks echo findings of a recent market review by the Zimbabwe Coalition on Debt and Development (ZIMCODD). 
The study observed that the continued decline of the Zimbabwe dollar on the black market entails high inflation “via the exchange rate pass-through effect.”
Zimcodd said this was one of the major drivers of inflation in Zimbabwe since 2019.
The auction was launched to stabilised the economy by curbing the runaway rate. However, Finance minister, Professor Mthuli Ncube recently said they were yet to establish a rate. 
More: NewsDay Zimbabwe

RBZ Forex Beneficiaries Bemoan Delays In Disbursement Of Allocated Funds

<h2>Full statement by Fastjet Zimbabwe on the launch of Victoria Falls International Airport to Kruger Mpumalanga International Airport (KMIA) on Wednesday, 16 March 2022.</h2>
Fastjet Zimbabwe, the award-winning value-based airline, has today, Wednesday, 16 March 2022 launched flights from Zimbabwe’s tourism capital of Victoria Falls to Mbombela Kruger Mpumalanga International Airport in South Africa.
The new scheduled service route will operate three (3) times a week on a Monday, Wednesday, and Friday. Providing a boost for tourism between the two countries, the new direct flight will be a seamless connection for travellers on the safari circuit, effectively linking the Lowveld lodges in and around the Kruger National Park, directly with Victoria Falls, another of Southern Africa’s greatest tourism attractions.
Fastjet will operate the service using the airline’s 50-seater Embraer ERJ145 aircraft. This aircraft type is known to provide the versatility to build a sustainable regional network with the right-size capacity while offering customers comfortable seating with generous legroom.
Fastjet Zimbabwe spokesperson, Nunurai Ndawana, said, “fastjet is a leading airline operating into Victoria Falls and the region. We are delighted to be adding another crucial direct flight connection to Victoria Falls. We believe this route will facilitate accelerated travel between these two globally recognised tourism destinations of Zimbabwe and South Africa, thereby massively contributing to the restart of tourism in the region”.
Fastjet Group Chief Commercial Officer, Julian Edmunds commented, “Since our announcement of this route, the response from Victoria Falls and the Mpumalanga Province has been overwhelmingly positive. Our nonstop service from Victoria Falls to Mbombela Kruger Mpumalanga will benefit a variety of travellers especially those that want to maximise their holiday by exploring multiple Southern African destinations in a single visit”.
<h4>More: <a href="https://news.pindula.co.zw/">Pindula News</a></h4>

Fastjet Launches Victoria Falls to KMIA Flights

The Government says the recent rise in local fuel prices has been caused by the ongoing war in Ukraine.
The Zimbabwe Energy Regulatory Authority (ZERA) hiked the price of diesel and petrol twice this month, sparking outrage as local fuel prices were already much higher compared to those in regional countries.
Speaking on ZBC News and Current Affairs programme, Face the Nation on Tuesday, Energy and Power Development Minister, Soda Zhemu said:
<blockquote>
As you are aware that as a country we depend on 100 per cent of our fuel needs on imports save for the ethanol component.
We are subjected to any fluctuations of oil prices on the international market and what we witnessed last week is that a barrel of oil shot to over 130 us dollars per barrel and obviously we had to adjust our local prices.
</blockquote>
Zhemu conceded that Zimbabwe’s fuel prices are the highest in the SADC region but said there are other costs that are factored in. He said:
<blockquote>
Of course, our prices are sort of way higher than what obtains in other SADC countries because we levy other costs such as the Zinara debt, road levy and the carbon levy, which leads to a seemingly high price.
</blockquote>
<h4>More:<a href="https://www.zbcnews.co.zw/russia-ukraine-conflict-triggered-fuel-hike-minister-zhemu/"> ZBC News</a></h4>

Russian Invasion Of Ukraine Triggered Fuel Price Hike - Minister Soda

The 2022 Zimbabwe International Trade Fair (ZITF) will be open to children under the age of 18 on 29 and 30 April.
In a statement, the ZITF Company board chairman Busisa Moyo said the company has set aside two public days for children under the age of 18 to attend the trade showcase. He said:
<blockquote>
ZITF 2022 will be open to members of the general public (including children under the age of 18) on 29 and 30 April 2022.
We invite them to come through and sample the various exhibits on display, learn more about locally produced goods and services and enjoy the myriad entertainment activities put together with the whole family in mind.
</blockquote>
There will also be a platform specifically for the youths that will cover topics such as education, innovation and human capital development. Added Moyo:
<blockquote>
The Scholastica Expo will therefore run concurrently with the main trade show bringing together learners, educational experts and career advisors to share information on strategic human capital development for developing a self-sustaining and enterprising economy.
Career guidance sessions and presentations will also run parallel to the expo. The Scholastica Conference will take place on 26 April under the theme ‘Economic Development through Innovation and Heritage: Promoting Talent and Skill-based Education’.
</blockquote>
The 62nd edition of the ZITF will be held from 26 to 30 April 2022. It will run under the theme, “Rethink, Reimagine, Reinvent Value Chains for Economic Development.”
<h4>More: <a href="https://www.sundaynews.co.zw/children-allowed-at-this-years-zitf/">The Sunday News</a></h4>

2022 Zimbabwe International Trade Fair Open For Children

The United Kingdom is set to scrap all remaining COVID-19 travel rules on Friday.
UK Transport Secretary, Grant Shapps, confirmed in a tweet that the rules will end at 4 AM on Friday.
People who arrive in the UK after 4 AM, Friday 18 March, will not need to take any COVID-19 tests before they travel or after they arrive.
Travellers will also not be required to fill in a UK passenger locator form before they arrive.
Passengers who are not fully vaccinated will no longer have to take COVID-19 tests before and after travelling to the UK.
Travellers also will not need to quarantine when they arrive, in line with current rules. Shapps tweeted:
<blockquote>
These changes are possible due to our vaccine rollout and mean greater freedom in time for Easter.
</blockquote>
The changes in UK travel rules have been welcomed by some figures in the travel industry. Tim Alderslade, chief executive of trade body Airlines UK, said:
<blockquote>
Today’s announcement sends a clear message to the world – the UK travel sector is back.
With travellers returning to the UK no longer burdened by unnecessary forms and testing requirements, we can now look forward to the return to pre-Covid normality throughout the travel experience.
</blockquote>
A Virgin Atlantic spokesperson welcomed the latest move saying it will help further restore consumer confidence.
<blockquote>
The removal of all remaining UK travel restrictions is the final important step towards frictionless air travel, helping to further restore consumer confidence as we welcome more customers back to the skies this spring and summer.
To uphold the experience of all travellers, it’s vital that the UK Government works closely with industry to ensure the UK border is ready for increasing passengers, as international travel ramps up.
</blockquote>
<h4>More: <a href="https://www.bbc.com/news/business-60741158">BBC News</a></h4>

UK Govt To Remove All COVID-19 Travel Rules On Friday

The Confederation of Zimbabwe Industries (CZI) has urged the Reserve Bank of Zimbabwe (RBZ) to establish an interbank trading platform for foreign currency that allows demand and supply to determine the exchange rate.
The RBZ currently is running the Dutch foreign currency auction system but confidence in the auction rate is low due to the huge parallel market premium, according to CZI.
In its latest macroeconomic briefing note to members, CZI called on monetary authorities to review the auction system. Part of the note read:
<blockquote>
History has also taught us that the exchange rate cannot be legislated into a reference rate on the market, as the market will always set its own rate.
The authorities have two choices; either let the formal market determine the exchange rate using market forces or continue with controlling the formal market while letting the parallel market set the reference rate.
The fear that allowing the auction rate to depreciate will see the parallel market depreciate in turn appears not to be based on evidence, as the market premium has been shrinking with the depreciation of the official exchange rate.
It is, therefore, important that modalities for having a market-determined exchange rate be explored and acted upon, especially the need for an interbank trading platform to emerge where demand and supply of foreign currency will determine the exchange rate, rather than the auction rate being used to dictate terms.
… The economy needs a reference rate, and this rate can only be determined by market forces rather than legislation.
</blockquote>
Last Tuesday, the RBZ set the rate at US$1:ZWL$130, against US$1:$230 on the parallel market.
<h4>More: <a href="https://www.newsday.co.zw/2022/03/czi-pushes-for-interbank-rate/">NewsDay</a></h4>

Confederation of Zimbabwe Industries Pushes For Interbank Rate

Energy and Power Development minister, <a href="https://www.pindula.co.zw/Soda_Zhemu">Soda Zhemu</a>, says power cuts will persist because Zimbabwe’s electricity is too cheap.
He says this is pushing “unproductive” demand by domestic customers.
Zhemu is supporting power utility ZESA’s request to the Zimbabwe Energy Regulatory Authority (ZERA) for a review of tariffs. The last review was in January.
The minister says on average, domestic consumers use US$10 of electricity each month, usually paid in the Zimbabwe dollar which has been losing value every week since the start of the year. Zhemu is quoted as saying by the Business Weekly:
<blockquote>
The tariff has been severely eroded and what we now see is the rising demand of unproductive electricity especially by domestic customers.
Until there is restoration of a viable tariff, the situation will remain fragile. 
We need a viable tariff and I understand that ZESA has applied for a tariff review and I want to believe the regulator ZERA is considering the application
</blockquote>
Zimbabweans has been experiencing constant power cuts for the past two years as the country is unable to produce enough electricity to meet demand. 
ZESA, the local power utility, owes regional power companies millions of dollars and, therefore, remains constrained from importing power to cover the gap due to foreign currency shortages.
The minister said electricity had become cheaper than gas, causing gas users to switch back to ZESA, adding to the power demand.
In February, ZESA was producing 1 285MW against the country’s peak demand of 1 700MW.
Regular machinery breakdowns at the coal-fired Hwange Power Station have also added to ZESA’s woes.
The last tariff increase approved by ZERA was 12.3 percent. ZESA officials have publicly declared that they would like to see a tariff increase of higher than 100 percent.
More: <a href="https://www.zimlive.com/2022/03/14/zhemu-warns-power-outages-will-persist-until-zesa-charges-viable-tariff/">ZimLive</a>

Energy Minister: Power Outages Will Persist Because Zimbabwe's Electricity Is Too Cheap

The Reserve Bank of Zimbabwe (RBZ) has revealed the reserve money supply as of the 4th of March 2022. The central bank said in a statement:
<blockquote>
1. Reserve money declined by ZW$79.73 million to ZW$27.13 billion during the week ending 4th March 2022, compared to the previous week’s position of ZW$27.21 billion.
2. The decline in reserve money largely reflected a decrease in required reserves of ZW$180.52 million, which was partially offset by increases of ZW$53.65 million and ZW$47.14 million in currency issued and banks’ liquidity (RTGS balances) at the Reserve Bank, respectively.
<h2>Download <a href="https://t792ae.c2.acecdn.net/wp-content/uploads/2022/03/Reserve-Money-Update-4-March-2022.pdf">Reserve-Money-Update—-4-March–2022</a></h2>
</blockquote>
<h2>More Stories: <a href="https://news.pindula.co.zw/">Pindula News</a></h2>

RBZ Reserve Money As Of 4 March 2022

Finance and Economic Development Minister, Professor Mthuli Ncube, believes the country is yet to discover the real price of the Zimbabwe dollar nearly two years after launching the foreign currency auction system.
Zimbabwe introduced the system in June 2020 to address persistent macroeconomic instability from parallel market exchange rate volatility.
Authorities were convinced the auction system would facilitate and expedite proper price discovery, which would, in turn, stabilise the exchange rate and prices of goods and services.
Speaking in an interview on the sidelines of the Insurance industry’s meeting with Treasury last Thursday, Ncube said monetary authorities were still working to refine the auction market in order to discover the true value of the local currency. He said:
<blockquote>
The country is in a good position, our current account position has been 4 percent in the positive for the past three years, which means we have more foreign currency inflows than outflows… so I do not understand why we are at this position, we are yet to discover the real exchange rate…
You reckon we received SDRs (Special Drawing Rights equivalent to US$968 million from the International Monetary Fund) last year, so all in all we have a total of US$1.3 billion in reserves, so we need to interrogate the situation on the ground and refine the auction system.
</blockquote>
Despite huge reserves held by Treasury, ballooning foreign current account balances and strong export receipts, Zimbabwe continues to suffer the impact of a volatile parallel market exchange rate.
The parallel market rate has been trading at a premium to the official exchange rate. A snap survey by The Sunday Mail Business on Thursday last week showed that manufacturers were pegging their prices at an exchange rate of around $240 to US$1.
Authorities and market watchers agree that some formally registered companies resort to buying forex on the parallel market due to:
<blockquote>
1). the time it takes to obtain funds from approved auction bids.
2). Shortage of foreign currency which also results in disbursement taking longer than expected. There was a backlog of nearly US$200 million as of December 31, 2021.
</blockquote>
Markets analyst Allen Dube said ultimately, the solution to the foreign currency situation was not borrowing but increased production, improved productivity and efficient mobilisation of domestic financial resources.
More: <a href="https://www.sundaymail.co.zw/zim-yet-to-discover-real-exchange-rate-prof-ncube">The Sunday Mail</a>

We're Yet To Discover The Real Exchange Rate - Finance Minister Ncube

President Emmerson Mnangagwa has expressed optimism in the recovery of the economy saying a surge in prices of precious metals like gold is good news for Zimbabwe.
The Southern African country produces some of these precious metals which mean the Government can leverage their firming international prices to minimise economic shocks. He said:
<blockquote>
As I write, prices of key minerals which Zimbabwe has and offers to the world, are firming up on the world market. Gold is creeping towards US$2000 an ounce; palladium which is part of our PGMs is well above US$ 3000; the price of platinum is firming daily, pointing to bright prospects.
Lithium, already enjoying a pride of place because of the seismic shift to green economies, can only bring rich rewards to our economy.
Diamonds are holding their own, in fact rising. My recent meeting with representatives of the World Diamond Council in Brussels showed a great appetite for our parcel.
Soon our Zimbabwe Consolidated Diamond Company will be in the market with several parcels.
All these good auguries in the mining sector make our USD$12 billion target realistic and achievable by 2023 if not much earlier.
</blockquote>
He speaks as fuel prices which went up recently due to a conflict between Russia and Ukraine had prompted analysts to predict that the Zimbabwean economy will slow down and probably recede. 
Recent studies established that mineral exports account for about 60 per cent of Zimbabwe’s export earnings and the mining sector contributes around 16 per cent of national GDP.
More: <a href="https://www.sundaymail.co.zw/govt-blocks-another-fuel-price-increase">The Sunday Mail</a>

President Mnangagwa Optimistic As Prices Of Precious Metals Go Up

Former Consumer Council of Zimbabwe (CCZ) chairperson Phillip Bvumbe has warned that consumers will continue to be affected by price increases due to hikes in fuel prices triggered by conflict between Russia and Ukraine. 
Experts expect the decline in fuel output to continue until the war in Eastern Europe ends.
The cost of living reached $75 000 at the end of January, while the Zimbabwe Statistics Agency (ZIMSTAT) reported that the total consumption poverty line was $9 114, translating to a cost of living of $54 684 for a family of six per month.
However, as reported by the central bank last month, the average income is below $50 000 per month.
Experts say apart from high rates of unemployment, even those formally employed continue to earn below the poverty line. Bvumbe told Standardbusiness:
<blockquote>
If you look at the CCZ breadbasket for the end of January it stands $75 000, up from December 2021 which was $72 000.
Now, when you look at the majority of minimum wages, they are below $50 000 and yet the family basket now stands at $75 000. So, that nature would incline that most of these people are living below the consumer council basket, which means they cannot afford to access basic commodities, which are in the basket for a family of six.
</blockquote>
The problem worsened when the Zimbabwe Energy Regulatory Authority last week raised the price of fuel per litre by 10% to US$1.67 and US$1.68 for petrol and diesel, respectively, within one week.
Bvumbe said workers in the top-notch sectors including the banking sector were also earning below the PDL (poverty datum line).
His remarks echoed reports first made by ZIMSTAT which in a recent report found that 80% of the employed persons from both formal and informal sectors were earning a monthly income of $20 000 in October 2021, against a cost of living of $42 708, for a family of six.
More: <a href="https://thestandard.newsday.co.zw/2022/03/13/brace-for-hard-times-ex-ccz-boss-warns/">The Standard</a>

Former CCZ Chairperson Warns Of Impending Hard Times

We have posted new jobs to the <a href="https://zero.pindula.co.zw/jobs/">Jobs section on Pindula</a>. Please open the job you’re interested in to view the detailed application requirements and application deadline.
<h2>General Duty Soldiers – Zimbabwe National Army (ZNA)</h2>
<blockquote>
<div class="jobs__meta">The Zimbabwe National Army is recruiting suitably qualified candidates who are Zimbabwean citizens and physically fit to join the Army and serve in the following trade: General Duty Soldiers </div>
</blockquote>
<article class="content">
<blockquote>
Interested candidates should: Be aged between 18 — 22 years by 01 July 2022; Have a minimum of five ‘0’ Level passes with grade ‘C’ or better; Be physically and medically fit; Be single; Have a minimum height of 1,68m for males and 1,55m for females; Weigh not less than 57 kgs for male candidates and 55 kgs for female candidates; Complete a 10 km run in 45 minutes for males and 55 minutes for females. <a href="https://zero.pindula.co.zw/jobs/general-duty-soldiers-zimbabwe-national-army-zna-22/">More on the Job</a>
</blockquote>
<h2>X-Ray Operators – Zimbabwe National Army (ZNA)</h2>
<blockquote>
<div class="jobs__meta">The Specialist/ Technical Personnel must be aged between 18-30 years and have a minimum of 5 ‘0’ Levels including English and Mathematics in addition to the professional qualifications: Diploma in Radiology; Must be registered with AHPCZ. <a href="https://zero.pindula.co.zw/jobs/x-ray-operators-zimbabwe-national-army-zna-22/">More on the Job</a></div>
</blockquote>
<h2>Commissioner General – Zimbabwe Revenue Authority (ZIMRA)</h2>
<blockquote>
The ZIMRA Board invites qualified and experienced Zimbabwean citizens to fill the position of Commissioner-General.
Candidates who had submitted applications for this post are advised not to resubmit. <a href="https://zero.pindula.co.zw/jobs/commissioner-general-zimbabwe-revenue-authority-zimra-2353/">More on the Job</a>
</blockquote>
<h2>Assistant Web Designers – Zimbabwe National Army (ZNA)</h2>
<blockquote>
<div class="jobs__meta">The Zimbabwe National Army is recruiting suitably qualified candidates who are Zimbabwean citizens and physically fit to join the Army and serve in the following trade: Assistant Web Designers</div>
</blockquote>
<article class="content">
<blockquote>
The Specialist/ Technical Personnel must be aged between 18-30 years and have a minimum of 5 ‘0’ Levels including English and Mathematics in addition to the professional qualifications: NC/ Diploma in Web Designing; NC/ Diploma in Graphic Art and Designing. <a href="https://zero.pindula.co.zw/jobs/assistant-web-designers-zimbabwe-national-army-zna-22/">More on the Job</a>
</blockquote>
<h2>Bricklayers NC in Brick &amp; block laying – Zimbabwe National Army (ZNA)</h2>
<blockquote>
<div class="jobs__meta">The Zimbabwe National Army is recruiting suitably qualified candidates who are Zimbabwean citizens and physically fit to join the Army and serve in the following trade: Bricklayers NC in Brick &amp; block laying</div>
</blockquote>
<article class="content">
<blockquote>
The Specialist/ Technical Personnel must be aged between 18-30 years and have a minimum of 5 ‘0’ Levels including English and Mathematics in addition to the professional qualifications: Artisan Class 1-4. <a href="https://zero.pindula.co.zw/jobs/bricklayers-nc-in-brick-block-laying-zimbabwe-national-army-zna-22/">More on the Job</a>
</blockquote>
<h2>Diesel Plant Fitters – Zimbabwe National Army (ZNA)</h2>
<blockquote>
<div class="jobs__meta">The Zimbabwe National Army is recruiting suitably qualified candidates who are Zimbabwean citizens and physically fit to join the Army and serve in the following trade: Diesel Plant Fitters</div>
</blockquote>
<article class="content">
<blockquote>
The Specialist/ Technical Personnel must be aged between 18-30 years and have a minimum of 5 ‘0’ Levels including English and Mathematics in addition to the professional qualifications: NC/ND/HND in Diesel Plant Fitting. <a href="https://zero.pindula.co.zw/jobs/diesel-plant-fitters-zimbabwe-national-army-zna-22/">More on the Job</a>
</blockquote>
<h2>Carpenters – Zimbabwe National Army (ZNA)</h2>
<blockquote>
<div class="jobs__meta">The Zimbabwe National Army is recruiting suitably qualified candidates who are Zimbabwean citizens and physically fit to join the Army and serve in the following trade: Carpenters</div>
</blockquote>
<article class="content">
<blockquote>
The Specialist/ Technical Personnel must be aged between 18-30 years and have a minimum of 5 ‘0’ Levels including English and Mathematics in addition to the professional qualifications: NC in Carpentry; Artisan Class 1-4. <a href="https://zero.pindula.co.zw/jobs/carpenters-zimbabwe-national-army-zna-22/">More on the Job</a>
</blockquote>
</article>
</article>
</article>
<h2>Biology Teachers – Zimbabwe National Army (ZNA)</h2>
<blockquote>
<div class="jobs__meta">The Zimbabwe National Army is recruiting suitably qualified candidates who are Zimbabwean citizens and physically fit to join the Army and serve in the following trade: Biology Teachers</div>
</blockquote>
<article class="content">
<blockquote>
The Specialist/ Technical Personnel must be aged between 18-30 years and have a minimum of 5 ‘0’ Levels including English and Mathematics in addition to the professional qualifications: BSc Degree in Biology. <a href="https://zero.pindula.co.zw/jobs/biology-teachers-zimbabwe-national-army-zna-22/">More on the Job</a>
</blockquote>
<h2>More Jobs: <a href="https://zero.pindula.co.zw/jobs/">Pindula Job Section</a></h2>
</article>
</article>
</article>

Zimbabwe National Army Recruiting: Teachers, Carpenters, Welders, Plumbers, Electricians, Soldiers, Plasters, Web Desingers, Etc

President Emmerson Mnangagwa has directed the Government to enforce domestic remedies, including a reduction of duty on petroleum products, to control the price of fuel which went up twice last week.
The Zimbabwe Energy Regulatory Authority (ZERA) attributed the surge in fuel prices to geopolitical factors caused by the Russia-Ukraine conflict. 
Following the latest review, which left diesel and petrol selling at US$1.68 and US$1.67 per litre, respectively, fuel in Zimbabwe is the most expensive in the SADC region, a development that angered players in the energy sector. 
Analysts say the surge could have a negative effect on the recovering economy.
The Sunday Mail quotes President Mnangagwa as calling for calm saying Government has taken measures to shield the economy from global disruptions. He said:
<blockquote>
We are looking at the whole duty framework to cushion our economy from shocks and pressures from galloping fuel prices.
There is no need for panic. I have already directed the Ministry of Energy and Power Development to review and reduce duty and surcharges on fuel so the pump prices of petrol and diesel remain manageable.
We need stability in the fuel market so we minimise imported inflation for price stability in the economy. Cabinet will be seized with this issue in days and weeks ahead.
</blockquote>
As of March last year, Zimbabwe’s total taxes and levies on diesel and petrol amounted to about US$0,30c per litre.
In an engagement with players in the insurance sector on Wednesday last week, Finance and Economic Development Minister Professor Mthuli Ncube said the Government was already in the process of reducing fuel taxes. He said:
<blockquote>
It’s not easy to come up with risk mitigation measures, but one thing we have done is to lower the taxes on fuel from about 12,7 cents (US) to 8,7 cents (US), and that’s where we are now.
</blockquote>
Prof Ncube said the Government is looking to reduce the taxes further. 
More:<a href="https://www.sundaymail.co.zw/govt-blocks-another-fuel-price-increase"> The Sunday Mail</a>

President Mnangagwa Directs Finance Ministry To Reduce Duty On Fuel

The Zimbabwe Energy Regulatory Authority (ZERA) says fuel prices were supposed to increase again this week due to an increase in the price of fuel on the global market.
In a statement this Saturday, ZERA said another fuel price hike was put on hold following consultations with the government and industry.
ZERA said it was agreed to keep fuel prices at current levels while they continue to monitor market developments. The statement read:
<blockquote>
The Zimbabwe Energy Regulatory Authority (ZERA) will continue to monitor the fuel prices in the market and provide regular updates. The fuel prices continued to increase during the past week.
Pump prices were supposed to increase but after consultations with the government and industry, it was agreed to maintain the current prices while monitoring market developments.
The public and operators are advised that the blending ratio remains at EO. Operators may sell petroleum products below the prescribed prices depending on their trading advantages and should display prices in a prominent place as provided for by the fuel pricing regulations.
</blockquote>
This month ZERA increased fuel prices twice within one week, citing the war in Eastern Europe.
Diesel now costs US$1.68 and ZWL$218.01 per litre while petrol costs US$1.67 and ZWL$216.78 per litre following the latest increase.
<h4>More: <a href="https://news.pindula.co.zw/">Pindula News</a></h4>

Current Fuel Prices Are Too Low - ZERA

Nyaradzo Group has appointed former Warriors captain and Manchester City forward Benjani Mwaruwari as its Brand Ambassador.
Mwaruwari becomes the latest high-profile individual to be appointed Nyaradzo Brand Ambassador following the appointment of musicians Jah Prayzah and Sandra Ndebele, France-based Warriors striker Tinotenda Kadewere and comedian, Madam Boss to similar roles. Nyaradzo said in a statament:
<blockquote>
The Nyaradzo family is delighted to announce the signing of world-renowned football icon Benjani Mwaruwari as our new Brand Ambassador.
Benjani joins the pantheon of famous Nyaradzo faces and takes his place among a diverse and accomplished group of cultural icons, including current Brand Ambassadors Jah Prayzah, Madam Boss, Tino Kadewere and Ndebele Sandra. Welcome to the family, Mngane!
</blockquote>
<img alt="May be an image of 1 person, playing football and text that says 'ADZO OUP NYARADZO GROUP NYARADZO GROUP RADZO UP RADZO ROUP NYARADZO GROUP NYARADZO GROUP RADZO ROUP NYARADZO GROUP NYARADZO GROUP 1 JA NYARADZO GROUP'" decoding="async" src="https://scontent-jnb1-1.xx.fbcdn.net/v/t39.30808-6/275663543_4877848148976990_4818860772567594764_n.jpg?_nc_cat=102&amp;ccb=1-5&amp;_nc_sid=730e14&amp;_nc_ohc=cOU3ZfXaxhgAX8HHDrP&amp;_nc_ht=scontent-jnb1-1.xx&amp;oh=00_AT-efWllFRcTd8ngsdX4xAvKCQd4qPzK2574kCpiHRM2DQ&amp;oe=62301C64"/><img alt="May be an image of 1 person and standing" decoding="async" src="https://scontent-jnb1-1.xx.fbcdn.net/v/t39.30808-6/275546177_4877848085643663_6938965720855757870_n.jpg?_nc_cat=100&amp;ccb=1-5&amp;_nc_sid=730e14&amp;_nc_ohc=cl6HGtS0ZKQAX8Uvwz2&amp;tn=l6G0vRZsLGcMGmQX&amp;_nc_ht=scontent-jnb1-1.xx&amp;oh=00_AT8x2IYFhH_Ncj1k-2CSMpRAvy4VV0qZA33RfOBlRVoxvg&amp;oe=622FF477"/><img alt="May be an image of 1 person and ball" decoding="async" src="https://scontent-jnb1-1.xx.fbcdn.net/v/t39.30808-6/275670190_4877844768977328_2830806139545334123_n.jpg?_nc_cat=102&amp;ccb=1-5&amp;_nc_sid=730e14&amp;_nc_ohc=k8ExgS93O48AX-hcozb&amp;_nc_ht=scontent-jnb1-1.xx&amp;oh=00_AT8vdDXTaCzZt53_bAHIwb50twwBOSAvscLTKBcZZ2NdLA&amp;oe=623068E1"/><img alt="May be an image of 1 person, ball, indoor and text that says 'GROUP NYARADZO GROUP NYARADZO GROUP ARADZO GROUP NYARADZO GROUP GROUP ARADZO GROUP NYARADZO GROUP NYARADZO GROUP 1 NYA NYARADZO GROUP'" decoding="async" src="https://scontent-jnb1-1.xx.fbcdn.net/v/t39.30808-6/275672127_4877845222310616_9081277232959414783_n.jpg?_nc_cat=104&amp;ccb=1-5&amp;_nc_sid=730e14&amp;_nc_ohc=4ILv5Ydkf0sAX9mZHZ_&amp;_nc_ht=scontent-jnb1-1.xx&amp;oh=00_AT9nRUv3f0NOTNE21O-1jk3-a6pZyTfcAS7RdsxrKjXKQQ&amp;oe=623115D6"/><img alt="May be an image of 1 person, standing, ball and text that says 'NYARADZO GROUP NYARADZO GROUP NYARADZO ROUP ARADZO ROUP NYARADZO GROUP NYARAL GROUP ប ARADZO GROUP BENJANI BENJ NYARADZ GROUP GROUP NYARADZO GROUP DADZO MYA YA 1 NYARADZO GROUP'" decoding="async" src="https://scontent-jnb1-1.xx.fbcdn.net/v/t39.30808-6/275700902_4877845245643947_7748204390443784391_n.jpg?_nc_cat=110&amp;ccb=1-5&amp;_nc_sid=730e14&amp;_nc_ohc=iG8r3rWkm1AAX9A43zB&amp;_nc_ht=scontent-jnb1-1.xx&amp;oh=00_AT9OtdR7ejCf1d3tcXcglwTzwyvZLYXH_a2aoV2g4yxheg&amp;oe=62304747"/><img alt="May be an image of 1 person, standing and outdoors" decoding="async" src="https://scontent-jnb1-1.xx.fbcdn.net/v/t39.30808-6/275669219_4877848442310294_2023298704477730022_n.jpg?_nc_cat=100&amp;ccb=1-5&amp;_nc_sid=730e14&amp;_nc_ohc=n5EMMBm6jlIAX_6HfHM&amp;_nc_ht=scontent-jnb1-1.xx&amp;oh=00_AT-i4f3h_NxAS7aK3DHQN4UvZVrpIHLXA-D169YcpqkYEw&amp;oe=6230F8CC"/><img alt="May be an image of 1 person and standing" decoding="async" src="https://scontent-jnb1-1.xx.fbcdn.net/v/t39.30808-6/275697961_4877845178977287_8211207556492063665_n.jpg?_nc_cat=100&amp;ccb=1-5&amp;_nc_sid=730e14&amp;_nc_ohc=3dUQhUMh4fUAX-GmEAn&amp;_nc_ht=scontent-jnb1-1.xx&amp;oh=00_AT_b2snnB92O5ktr9gfHmZtswJqV0JO-PfS826aMTkf0NQ&amp;oe=622F821D"/>
<h4>More: <a href="https://news.pindula.co.zw/">Pindula News</a></h4>

Benjani Mwaruwari Appointed Nyaradzo Brand Ambassador

Kenya President Uhuru Kenyatta is set to officially open the 2022 Zimbabwe International Trade Fair (ZITF) to be held in Bulawayo next month.
ZITF board chairman Busisa Moyo said President Kenyatta accepted the invitation from ZITF patron President Emmerson Mnangagwa to officially open the event. Said Moyo:
<blockquote>
The ZITF Company board is pleased to announce that His Excellency Uhuru Kenyatta, the President of the Republic of Kenya has graciously accepted the invitation from our patron HE President Mnangagwa to officiate at the official opening ceremony of the 62nd edition of the ZITF taking place on Friday 29 April 2022.
</blockquote>
The 62nd edition of the ZITF will be held from April 26 to 30 under the theme, “Rethink, Reimagine, Reinvent Value Chains for Economic Development.”
President Kenyatta last visited Zimbabwe for the official funeral ceremony for Zimbabwe’s founding president Robert Mugabe that was held at the National Sports Stadium in Harare in September 2019.
<h4>More: <a href="https://www.herald.co.zw/president-kenyatta-to-open-zitf-2022/">The Herald</a></h4>

President Uhuru Kenyatta To Officially Open ZITF

The Government has been urged to review fuel taxes after the Zimbabwe Energy Regulatory Authority (ZERA) increased the prices of fuel twice in one week.
The fuel prices have gone up significantly on the global market since Russia launched a military invasion of Ukraine on 24 February, with Western powers responding by imposing economic sanctions on Moscow.
Dzivaresekwa MP Edwin Mushoriwa (MDC Alliance) implored the Government to reduce fuel taxes and levies to make the product affordable for citizens. Said Mushoriwa:
<blockquote>
The various taxes and levies contribute approximately 30 per cent to the price of fuel so isn’t it possible to review them downwards?
</blockquote>
Tobacco Association Zimbabwe president, George Seremwe, warned that the recent fuel price hike will make tobacco farming less profitable. He said:
<blockquote>
As farmers, we are very much worried about the escalating prices of fuel which has been caused by the crisis in Ukraine and we think that is going to affect our profitability of tobacco production.
Fuel is one of our major inputs in the value chain. We need fuel for the transportation from the fields to sheds, and from floors to market we also use fuel.
We are very much worried about the charge from transporters, very soon because we will be transporting our tobacco, this will have an impact on our profits.
</blockquote>
Confederation of Zimbabwe Retailers (CZR) president Denford Mutashu said consumers should brace for a sharp rise in the prices of both basic and non-essential goods.
<h4>More: <a href="https://www.herald.co.zw/govt-urged-to-review-fuel-taxes/">The Herald</a></h4>

Govt Urged To Reduce Fuel Taxes And Levies

The prices of maize and bread flour have gone up by 15 per cent with immediate effect due to the ongoing war in Eastern Europe, with both Russia and Ukraine among the top five wheat exporters globally.
In a statement on Thursday, Grain Millers Association of Zimbabwe (GMAZ) chairman, Tafadzwa Musarara, warned the prices could increase further, due to supply chain disruptions. He said:
<blockquote>
The Grain Marketing Board had increased the cost of maize from $43 000 to $50 000 per metric tonne, necessitating an upward review in mealie-meal prices.
Coupled with this, fuel prices have also surged following the play of geo-politics in the Balkan region, in particular the Russia-Ukraine conflict, adding substantially to operating costs.
Maize-meal retail price for 10kg Roller Meal will increase by 15 per cent from $955 to $1 099.
Bread flour will move up by 14.74 per cent from $119 000 to $136 544 per metric tonne.
</blockquote>
Musarara said the landing price for wheat has increased by US$200 from US$475 to $675 per metric tonne.
The bread and mealie meal prices are expected to go up soon in response to the rise in the prices of wheat and maize.
<h4>More: <a href="https://www.sundaymail.co.zw/new-mealie-meal-bread-flour-prices-go-up">The Sunday Mail</a></h4>

Grain Millers Increase Wheat, Maize Prices

Travellers using the Beitbridge Border Post Wednesday commended the Government for lifting restrictions on non-essential travel through land borders.
Two weeks ago, the Cabinet approved the re-opening of land borders to fully vaccinated travellers.
However, the border could not immediately re-open since there was no supporting law, until last Friday when General Notice 421 of 2022 was issued by Home Affairs and Cultural Heritage Minister, Kazembe Kazembe.
In separate interviews, citizens told The Herald that the move is refreshing. Ms Charmaine Chapo, an informal trader said:
<blockquote>
I am grateful, I can now travel freely to stock products for sale from other countries by road.
At the peak of the lockdown, procuring goods became expensive since the few who were able to travel were charging exorbitant prices for transportation.
You will also note that some people who were crossing borders illegally were risking their lives. It is gratifying that we can start travelling safely again via the formal crossing points.
</blockquote>
A Beitbridge-based transporter Mr Lloyd Mufunga said they were looking forward to business peaking in the next few days when many people start travelling between South Africa and Zimbabwe.
Acting Immigration Officer in charge of Beitbridge Border Post, Mr Trustworthy Manatsire, said: “As of between Monday (6 am) and Tuesday (6 am), we processed 1 879 arrivals and 935 exits, which is not out of the ordinary.
South Africa hosts millions of Zimbabweans who have been in the neighbouring country for some ten years or more years following the collapse of the Zimbabwean economy.
More: <a href="https://www.herald.co.zw/travellers-praise-land-borders-reopening/">The Herald</a>

Travellers Using Beitbridge Border Post Speak On Re-opening Of Land Borders

Energy and Power Development Minister, Zhemu Soda, has said the frequent fuel price increases are a result of international developments which Zimbabwe has no control over.
He said over the past few days, fuel prices had risen significantly on the global market in the wake of Russia’s special military operation in Ukraine, which had affected supply trends as the former was the second-biggest producer of petroleum products in the world.
The Zimbabwe Energy Regulatory Authority (ZERA) Wednesday <a href="https://news.pindula.co.zw/2022/03/09/zera-raises-fuel-prices-for-march-2022-again/">announced that the price of diesel had risen</a> by 17 cents and petrol by 16 cents.
This was the second increase inside four days after ZERA on March 5 raised fuel prices to US$1.51 for both diesel and petrol. <a href="https://news.pindula.co.zw/2022/03/10/responses-to-fuel-prices-hike-zimbabwe-only-country-affected-by-war-in-ukraine/">The hike attracted public outrage.</a>
Minister Soda said the prices at which traders were selling fuel since the last review on March 5, was now below the cost of replenishing stocks. Since the last review, the cost of importing petrol and diesel has gone up by up to 11 per cent.
At US$1,68 per litre now, diesel is 24 cents up from the February price of US$1,44, while petrol is now pegged at US$1,67 per litre.
ZERA also adjusted liquefied petroleum gas (LPG) prices, raising the retail price to US$2,07 from US$2,03 per kg.
Speaking at a media conference in Harare yesterday, Minister Soda said: 
<blockquote>
The war situation in Ukraine is constraining production and international movement of the commodity. It is a precarious situation; beyond our control.
Zimbabwe imports almost all of its fuel requirements. Any increase in the price of oil on the international market therefore translates into an increase in fuel prices in the country.
Occasioned by the <a href="https://news.pindula.co.zw/2022/02/24/ukraines-foreign-minister-putin-launched-full-scale-invasion-well-defend-and-win/">conflict between</a> <a href="https://news.pindula.co.zw/2022/02/24/ukraines-foreign-minister-putin-launched-full-scale-invasion-well-defend-and-win/">Russia and Ukraine</a>, supply of the petroleum products has been constrained, resulting in an increase in the FOB prices.
</blockquote>
He said a rapid increase in oil prices on the international market demanded more frequent price reviews compared to when international prices were relatively stable.
Soda added that petroleum price reviews shall be done on a weekly basis to preserve the price of the products in line with the situation obtaining on the international market.
Asked whether Government could intervene to cushion users of fuel from the hikes, Minister Soda said if the situation continued, Government would find ways to lessen the burden. 
Reacting to the latest round of increases yesterday, parliamentarians expressed concern at recent developments and urged Government to urgently look at ways of easing the situation.
Dzivaresekwa legislator Mr Edwin Mushoriwa said it was time the Government reviewed downwards, the level of taxes and levies imposed on fuel to cushion the public.
Deputy Minister of Finance and Economic Development, Clemence Chiduwa said the proposal was welcome but Treasury could not implement it alone.
More: <a href="https://www.herald.co.zw/govt-explains-frequent-fuel-price-hikes/">The Herald</a>

Government Speaks On Frequent Fuel Price Increases

The Zimbabwe Energy Regulatory Authority (ZERA) Wednesday reviewed up fuel prices for the second time in a week attracting the wrath of motorists.
According to the revised prices, a litre of Diesel now costs US$1.68 or ZWL218.01. In a statement, earlier published by Pindula News, ZERA said the increase was a result of increasing oil prices on the international market due to the conflict between Russia and Ukraine.
A comparison of fuel prices in the SADC region shows that Zimbabwe’s fuel is a little bit expensive compared to its counterparts. We present fuel prices in some SADC countries below:
<blockquote>
1). Angola (Petrol US$0.33); (Diesel US$0.28)
2). Mozambique (Petrol US$1.08); (Diesel US$0.96)
3). Botswana (Petrol US$1.08); (Diesel US$1.06)
4). Zambia (Petrol US$1.21); (Diesel US$1.06)
5). South Africa (US$1. 38); (Diesel US$1.39)
6). Zimbabwe (Petrol US$1.67); (Diesel US$1.68)
</blockquote>
 
<blockquote>
<img class="aligncenter" decoding="async" src="https://pbs.twimg.com/media/FNdwAKCXsAYy2hW?format=jpg&amp;name=large"/>
</blockquote>
One citizen suggested the government must remove high taxes as they contribute to high fuel prices. Read the comment:
<blockquote>
$1.51 was too much then now $1.68usd. The effects of fuel increase will be felt in every sector! Transport and everything will also increase prices and thereby fueling inflation. Govt must cushion citizens by removing too high taxes that result in too high priced fuel.<a class="link-complex" href="https://twitter.com/search?q=%23use" rel="hashtag noopener" target="_blank">#use</a> surplus.
</blockquote>
Another one just asked:
<blockquote>
Is the war in Ukraine only affecting Zimbabwe?
</blockquote>
Zimbabwe is paying more in fuel costs than other countries it has the same geographical characteristics such as Zambia, which is also landlocked and imports some of its fuel by haulage trucks passing through Zimbabwe.
A rise in fuel prices has often triggered inflation as businesses will recoup transport costs by increasing the prices of their goods and or services.
<h2>More: <a href="https://news.pindula.co.zw/">Pindula News</a></h2>

Responses To Fuel Prices Hike: "Zimbabwe Only Country Affected By War In Ukraine?"

Energy and Power Development minister <a href="https://www.pindula.co.zw/Soda_Zhemu">Zhemu Soda</a> has urged motorists to make use of <a href="https://www.pindula.co.zw/Zimbabwe_United_Passenger_Company">ZUPCO</a> buses following public outrage after the <a href="https://www.pindula.co.zw/Zimbabwe_Energy_Regulatory_Authority">Zimbabwe Energy Regulatory Authority (ZERA)</a> Wednesday <a href="https://news.pindula.co.zw/2022/03/09/zera-raises-fuel-prices-for-march-2022-again/">hiked fuel prices for a second time in one week. </a>
ZERA hiked diesel prices to US$1.68 or ZWL218.01 per litre up from ZWL$195.99 and US$1.51 per litre.
The regulator attributed the development to increasing oil prices on the international market due to the conflict between Russia and Ukraine. Watch the video below for Soda’s remarks:
<div class="wp-video" style="width: 640px;">
<video class="wp-video-shortcode" controls="controls" height="360" id="video-228044-1" preload="metadata" width="640"><source src="https://t792ae.c2.acecdn.net/wp-content/uploads/2022/03/Zhemu-on-Fuel-prices.mp4?_=1" type="video/mp4"/><a href="https://t792ae.c2.acecdn.net/wp-content/uploads/2022/03/Zhemu-on-Fuel-prices.mp4">https://t792ae.c2.acecdn.net/wp-content/uploads/2022/03/Zhemu-on-Fuel-prices.mp4</a></video></div>
<h2>More: <a href="https://news.pindula.co.zw/">Pindula News</a></h2>

Energy Minister Soda Says "Make Use Of ZUPCO Buses" As Fuel Prices Go Up

The governor of the Reserve Bank of Zimbabwe (RBZ), John Mangudya has issued a statement on foreign exchange auction allotments for February 2022 and foreign exchange for the period January to February 2022. In a statement, seen by Pindula News, Mangudya said 823 individuals/organisations benefited from US$120 143 752 that was alloted under the main auction in February. Said Mangudya:
<blockquote>
<h2>FOREIGN EXCHANGE AUCTION ALLOTMENTS FOR FEBRUARY 2022 AND FOREIGN EXCHANGE PAYMENTS FOR THE PERIOD JANUARY TO FEBRUARY 2022</h2>
In line with the Bank’s commitment to regularly keep the public informed of developments in the foreign exchange market, the Bank hereby publishes the following:
1. A list of the 823 beneficiaries of US$120 143 752 allotted under the Main Foreign Exchange Auction during the month of February 2022;
2. A list of the 1 897 beneficiaries of US$28 565 721 allotted under the SMEs Foreign Exchange Auction during the month of February 2022; and 
3. A schedule showing the total foreign exchange payments for the 2 months, by source, amounting to US$1 160 872 112 broken down as follows: –
(i) foreign currency accounts (US$925 999 087),
(ii) the Foreign Exchange Auction Allotments (US$218 351 521); and
(iii) the interbank market (US$16 521 504).
The bulk of the funds allotted at the auction during the month of February 2022 (64%) went towards payment for raw materials (US$54 354 527) and machinery and equipment (US$39 429 531), with the remaining 36% of the total allotments going towards payment for consumables (US$17 217 323), services (US$11 552 570), retail and distribution (US$15 366 912), pharmaceuticals and chemicals (US$6 743 499), packaging (US$3 840 155) and fuel, electricity and gas (US$204 956), as shown in the tables below.
The total foreign exchange auction allotments for January and February 2022 is US$218 351 521, bringing the cumulative allotments since inception of the Foreign Exchange Auction System to US$2 814 732 334.
John P Mangudya 
Governor
<h2>Download: <a href="https://t792ae.c2.acecdn.net/wp-content/uploads/2022/03/AUCTION-ALLOTMENTS-FOR-FEBRUARY-2022.pdf">AUCTION-ALLOTMENTS-FOR-FEBRUARY-2022</a></h2>
</blockquote>
<h2>More: <a href="https://news.pindula.co.zw/">Pindula News</a></h2>

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