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)

Various NGOs operating in Zimbabwe have advertised open vacancies for February 2022. Below is the list of jobs being offered and the qualifications needed:
<h2>Assistant Information Management Officer United Nations High Commissioner for Refugees (UNHCR):</h2>
<h2>Qualifications</h2>
<ul>
<li>For P1/NOA – 1 year relevant experience with Undergraduate degree; or no experience with Graduate degree; or no experience with Doctorate degree.</li>
</ul>
<h2>Senior Resettlement Assistant: United Nations High Commissioner for Refugees (UNHCR)</h2>
<h2>Qualifications</h2>
<ul>
<li>For G5 – 2 years relevant experience with High School Diploma; or 1-year relevant work experience with Bachelor or equivalent or higher.</li>
</ul>
<h2>Outreach Worker: Centre for Sexual Health HIV and AIDS Research (CeSHHAR)</h2>
<h2>Qualifications and experience</h2>
<ul>
<li>A degree in Social Sciences or any related field; Counseling diploma and experience in HIV / AIDS counselling will be an added advantage; Demonstrable experience and interest in community outreach work</li>
</ul>
<h2>Internal Auditor: Family AIDS Caring Trust (FACT)</h2>
<h2>Qualifications And experience</h2>
<ul>
<li>Degree in Accounting; CA or equivalent qualification a must; Master’s degree qualification an added advantage; Working knowledge of International Financial Reporting Standards (IFRS) and International Auditing Standards a must.</li>
</ul>
<h2>Driver: CIRAD (Re-advertisement)</h2>
<h2>Qualification and experience</h2>
<ul>
<li>A minimum of 5 O’ levels, and any other relevant certificates with a minimum of 5 years’ driving experience; Must have a valid defensive driving certificate and a valid driving license.</li>
</ul>
<h2>Technical Officer -COVID 19: Zimbabwe Health Interventions (ZHI)</h2>
<h2>Qualifications and requirements</h2>
<ul>
<li>A degree in medicine; MBChB, MD or equivalent; A master’s in public health will be added advantage; A minimum of 3 years in public health- experience with infectious disease.</li>
</ul>
<h2>Provincial Coordinator: Zimbabwe Farmers’ Union</h2>
<h2>Qualifications</h2>
<ul>
<li>The Applicant should have a degree in Agriculture or related field and at least 5 years experience working directly with farmers; In addition, the interested individuals must demonstrate an unquestionable personal reputation.</li>
</ul>
<h2>Finance Officer: Christian Blind Mission International</h2>
<h2>Desired qualifications skills and competencies</h2>
<ul>
<li>Must have a degree in accounting; Professional qualification such as ( ACCA, CIMA etc) plus articles of clerkship will be an added advantage</li>
</ul>
<h2>Front Office Assistant: Island Hospice and Healthcare</h2>
<h2>Qualifications</h2>
<ul>
<li>A Diploma in Secretarial Studies or Office Administration; Social Work degree an added advantage; Experience in a health facility.</li>
</ul>
<h2>2 (Two) x District Strategic Information Focal Person: Zimbabwe Technical Assistance Training and Education Center for Health (Zim-TTECH)</h2>
<h2>Qualifications, skills and experience</h2>
<ul>
<li>Bachelor’s degree in any of the following: Biostatistics, Mathematics, Public Health, Health Promotion or related field.</li>
</ul>
<h2>Finance Assistant: Christian Aid Zimbabwe</h2>
<h2>Qualifications</h2>
<ul>
<li>At least a degree in Finance / Accounting / Commerce; Verbal and written fluency in English.</li>
</ul>
<h2>Regional Coordinator: Childline</h2>
<h2>Qualifications</h2>
<ul>
<li>Degree / Diploma A degree in Social Sciences; A postgraduate qualification in Project Management, Child Protection &amp; Development is an added advantage</li>
</ul>
<h2>Research &amp; Knowledge Management Manager: Pangaea Zimbabwe AIDS Trust (PZAT)</h2>
<h2>Qualifications, experience and competencies</h2>
<ul>
<li>A degree in social science or public health; A postgraduate qualification in public health, M&amp;E or social science</li>
</ul>
<h2>Youth Representative: Pangaea Zimbabwe AIDS Trust (PZAT)</h2>
<h2>Key competencies</h2>
<ul>
<li>Minimum of 3 Ordinary level subjects with a grade C or better; Prior experience as an HIV prevention, ambassador, PrEP champion, PrEP trial participant.</li>
</ul>
<h2>Palliative Care Nurse: Island Hospice and Healthcare</h2>
<h2>Qualifications:</h2>
<ul>
<li>Nursing diploma / Degree (RGN); Diploma in Project management with experience (An added Advantage); Driver’s License a must; At least 5 years experience with NGO background.</li>
</ul>
<h2>School Feeding Officer: Mavambo</h2>
<h2>Qualifications</h2>
<ul>
<li>A minimum of a first degree in Health, Safety and Environmental Management or any relevant degree; Class 3 Driver’s licence a must.</li>
</ul>
<h2>Programme Officer – Media and Communications: Local NGO</h2>
<h2>Qualifications and experience</h2>
<ul>
<li>A Degree in Media Studies, or related field; A minimum of two years of relevant work experience; Ability to design posters and flyers.</li>
</ul>
<h2>Policy Advocacy Coordinator: Zimbabwe Network of Early Childhood Development Actors (ZINECDA)</h2>
<h2>Qualifications and experience</h2>
<ul>
<li>Possess bachelor’s and master’s degrees in any of the following combinations: public policy analysis, international relations, education especially in early childhood development (ECD).</li>
</ul>
<h2>Data Clerk: Musasa</h2>
<h2>Qualifications and experience</h2>
<ul>
<li>Minimum of a Diploma in Social Sciences or Monitoring and Evaluation; At least 1-year experience in a similar role; Proficiency in Microsoft Office and/or DHIS.</li>
</ul>
<h2>Research Assistants: Biomedical Research and Training Institute(BRTI)</h2>
<h2>Qualifications</h2>
<ul>
<li>A degree/diploma (degree or diploma in nursing for the nurse), social sciences or psychology degree, diploma/degree in social work.</li>
</ul>
<h2>Research Nurses: Biomedical Research and Training Institute(BRTI)</h2>
<h2>Qualifications</h2>
A degree/diploma (degree or diploma in nursing for the nurse), social sciences or psychology degree, diploma/degree in social work.
<h2>2 (Two) x Digital Skills Trainee: Welthungerhilfe</h2>
<h2>Qualifications and experience</h2>
<ul>
<li>Minimum of a University degree in Social Sciences, ICT, Statistics, Demography or any related field; At least 1 year of experience in monitoring and evaluation and database management.</li>
</ul>
<h2>Volunteers: Farmers’ Association of Community self-Help investment Groups(FACHIG)</h2>
<h2>skills and qualifications</h2>
<ul>
<li>Diploma/Degree in Agriculture (preferably sustainable agriculture/agroecology); Diploma in communications / Accounts; Undertaken some proven volunteer work before 
 </li>
</ul>
To Apply And To See More Information About <a href="https://ihararejobs.com/">These Jobs Please Visit iHararejobs</a>

Pindula News

Various NGOs In Zimbabwe Advertise Open Vacancies For February 2022

A local airline, Fly Africa, is readying for a comeback onto the Zimbabwean market at a time when Germany’s Eurowings Discover airline is scheduled to start flying into the country next month.
A top aviation official said another airline from Eswatini is also eyeing Zimbabwe. 
Fly Africa flights commenced in August 2014 between Victoria Falls and Johannesburg, and subsequently on additional routes. However, operations have been suspended since October 2015, on the removal of the airline’s operating licence, reportedly following shareholder disputes and failure to meet statutory requirements.
Civil Aviation Authority of Zimbabwe director-general, Engineer Elijah Chingosho, said Eurowings Discover, will fly to Victoria Falls from Frankfurt. He told a media briefing:
<blockquote>
So far this year we have a European operator called Eurowings. They are expected to start operations from March this year and they will be flying from Frankfurt via Windhoek to Victoria Falls, also we have a local operator called Fly Africa, we were expecting that they would have started, but they are almost ready to start.
We also received inquiries from Eswatini, they are also interested in flying into the country. These are the three which are certain at the moment.
</blockquote>
Chingosho said Fly Africa was targeting the Cape Town-Johannesburg-Victoria Falls route.
Chingosho told New Ziana that Zimbabwe’s attraction of more airlines to fly into the country fitted well into the African Union’s Agenda 2063 target of creating a single African air transport market.
Last week, the Airports Company of Zimbabwe (ACZ) attributed the growing interest in the country by foreign airlines to improved aviation infrastructure.
The company is in the final stages of completing refurbishment and expansion of the country’s major airport, the Robert Gabriel Mugabe International.
Victoria Falls and Joshua Mqabuko Nkomo have already been refurbished to international standards.
More: <a href="https://www.herald.co.zw/more-airlines-flock-to-zimbabwe/">New Ziana</a>

Another Airline Readying To Start Flying In Zimbabwe

The value of the Zimbabwe dollar further depreciated against the US dollar at <a href="https://www.pindula.co.zw/Reserve_Bank_of_Zimbabwe">the Reserve Bank of Zimbabwe (RBZ)</a> foreign currency (forex) auction.
Data released by the central bank following the forex auction conducted on Tuesday, 08 February 2022 shows that the value of the local currency fell by $2.2248 against the US dollar.
This week the weighted average was US$1: ZWL118.8748 down from the 01 February 2022 rate that stood at US$1: ZWL116.6500,
In total, US$37,160,200.79 was allotted this week, with the bulk of the allotment going to raw materials followed by machinery and equipment. This is a little bit lower than the 37,548,580.33 million allotted last week.
898 bids were received on the Small to Medium enterprises forex auction, with 798 accepted and 100 disqualified. The total number of bids allotted was 723.
<div class="google-auto-placed ap_container">
On the main forex auction, a total of 536 bids were received, 451 were accepted and 85 were disqualified. The total number of bids allotted was 410.
Bids with overdue CDIs, outstanding Bills of Entry (BOEs), and those with sufficient FCA balances were also disqualified.
Some bids were also allotted on a pro-rata basis.
<table class="table table-bordered table-hover" id="table_2" style="width: 95.7917%;">
<tbody>
<tr>
<td style="width: 45.8586%;" title="Character Accurarcy=97.41">Number of Bids Received :</td>
<td style="width: 25.6566%;" title="Character Accurarcy=99.97">898</td>
<td style="width: 85.2964%;" title="Character Accurarcy=99.93">536</td>
</tr>
<tr>
<td style="width: 45.8586%;" title="Character Accurarcy=97.71">Number of Bids Disqualified :</td>
<td style="width: 25.6566%;" title="Character Accurarcy=99.93">100</td>
<td style="width: 85.2964%;" title="Character Accurarcy=99.88">85</td>
</tr>
<tr>
<td style="width: 45.8586%;" title="Character Accurarcy=99.41">Total Number of Bids Accepted :</td>
<td style="width: 25.6566%;" title="Character Accurarcy=99.98">798</td>
<td style="width: 85.2964%;" title="Character Accurarcy=99.92">451</td>
</tr>
<tr>
<td style="width: 45.8586%;" title="Character Accurarcy=99.3">Total Number of Bids Allotted :</td>
<td style="width: 25.6566%;" title="Character Accurarcy=99.95">723</td>
<td style="width: 85.2964%;" title="Character Accurarcy=99.97">410</td>
</tr>
<tr>
<td style="width: 45.8586%;" title="Character Accurarcy=99.19">Total Value of Bids Accepted :</td>
<td style="width: 25.6566%;" title="Character Accurarcy=99.31">USD 7,633,061.96</td>
<td style="width: 85.2964%;" title="Character Accurarcy=98.1">USD32,792,172.96</td>
</tr>
<tr>
<td style="width: 45.8586%;" title="Character Accurarcy=98.9">Amount Allotted :</td>
<td style="width: 25.6566%;" title="Character Accurarcy=99.08">USD 6,961,341.90</td>
<td style="width: 85.2964%;" title="Character Accurarcy=98.88">USD30,198,858.89</td>
</tr>
<tr>
<td style="width: 45.8586%;" title="Character Accurarcy=99.15">Highest Rate Received :</td>
<td style="width: 25.6566%;" title="Character Accurarcy=98.76">135.0000</td>
<td style="width: 85.2964%;" title="Character Accurarcy=98.55">130.0000</td>
</tr>
<tr>
<td style="width: 45.8586%;" title="Character Accurarcy=99.4">Lowest Bid Rate Allotted :</td>
<td style="width: 25.6566%;" title="Character Accurarcy=99.25">115.0000</td>
<td style="width: 85.2964%;" title="Character Accurarcy=98.21">116.0000</td>
</tr>
<tr>
<td style="width: 45.8586%;" title="Character Accurarcy=99.33">Weighted Average Rate :</td>
<td style="width: 25.6566%;" title="Character Accurarcy=99.93">118.8748</td>
</tr>
</tbody>
</table>
 
<table class="table table-bordered table-hover" id="table_1" style="width: 95.7576%; height: 356px;">
<tbody>
<tr>
<td title="Character Accurarcy=99.87">PURPOSE</td>
<td title="Character Accurarcy=99.22">AMOUNT ALLOTTED SME AUCTION</td>
<td title="Character Accurarcy=99.66">AMOUNT ALLOTTED MAIN AUCTION</td>
</tr>
<tr>
<td title="Character Accurarcy=99.96">Raw Materials</td>
<td title="Character Accurarcy=99.88">1,802,664.35</td>
<td title="Character Accurarcy=99.75">11,821,018.14</td>
</tr>
<tr>
<td title="Character Accurarcy=99.95">Machinery and Equipment</td>
<td title="Character Accurarcy=99.89">2,264,729.79</td>
<td title="Character Accurarcy=99.89">7,901,825.18</td>
</tr>
<tr>
<td title="Character Accurarcy=99.49">Consumables (Incl. Spares, Tyres, Electricals, etc)</td>
<td title="Character Accurarcy=99.93">876,554.00</td>
<td title="Character Accurarcy=99.87">3,562,165.30</td>
</tr>
<tr>
<td title="Character Accurarcy=97.89">Services (Loans, Education, Dividends, Disinvestments, etc)</td>
<td title="Character Accurarcy=99.93">916,491.54</td>
<td title="Character Accurarcy=99.88">1,661,438.04</td>
</tr>
<tr>
<td title="Character Accurarcy=98.85">Retail and Distribution (Incl. Food, Beverages, etc)</td>
<td title="Character Accurarcy=99.9">568,363.12</td>
<td title="Character Accurarcy=99.85">3,280,283.01</td>
</tr>
<tr>
<td title="Character Accurarcy=99.94">Electricity</td>
<td title="Character Accurarcy=99.96">20,620.00</td>
<td title="Character Accurarcy=99.97">0.00</td>
</tr>
<tr>
<td title="Character Accurarcy=97.89">Pharmaceuticalsand Chemicals</td>
<td title="Character Accurarcy=99.85">353,407.93</td>
<td title="Character Accurarcy=99.92">1,397,826.60</td>
</tr>
<tr>
<td title="Character Accurarcy=99.8">Paper and Packaging</td>
<td title="Character Accurarcy=99.86">158,511.17</td>
<td title="Character Accurarcy=99.94">574,302.62</td>
</tr>
<tr>
<td title="Character Accurarcy=99.94">TOTAL</td>
<td title="Character Accurarcy=99.84">6,961,341.90</td>
<td title="Character Accurarcy=99.88">30,198,858.89</td>
</tr>
<tr>
<td title="Character Accurarcy=99.82">GRAND TOTAL AWARDED</td>
<td title="Character Accurarcy=99.84">37,160,200.79</td>
<td title="Character Accurarcy=0"> </td>
</tr>
</tbody>
</table>
<img alt="Image" decoding="async" src="https://pbs.twimg.com/media/FLFYDw4XsAwqQho?format=jpg&amp;name=4096x4096"/>
<h4>More: <a href="https://news.pindula.co.zw/">Pindula News</a></h4>
</div>

RBZ Forex Auction Results – 08 February 2022

Here are the latest jobs posted to the <a href="https://zero.pindula.co.zw/jobs/">Pindula Jobs section</a>. Please open the job you’re interested in to view the detailed application requirements and application deadline.
(Remember, if you’re on Econet, you don’t data need to open the links to Pindula Zero below)
<h2><a class="post-li-title" href="https://zero.pindula.co.zw/jobs/apprenticeship-intake-delta-beverages-22/">Apprenticeship Intake – Delta Beverages</a></h2>
Delta Beverages is the name behind Lagers, Sparkling Beverages, Maheu, and Sorghum Beer manufacturing, marketing, and distribution in Zimbabwe. An exciting opportunity has arisen for young, ambitious and highly motivated individuals to join this vibrant enterprise.
We are therefore inviting applications for apprenticeship training with Delta Beverages in the following trades:• Fitting &amp; Turning• Boiler-making• Refrigeration &amp; Air Conditioning• Motor Mechanic (including diesel)• Auto Electrical• Panel Beating• Electrical – Power• Toolmaking• Plumbing• Instrumentation &amp; Control• Millwrights <a href="https://zero.pindula.co.zw/jobs/apprenticeship-intake-delta-beverages-22/">=&gt; more</a>
 
<h2><a class="post-li-title" href="https://zero.pindula.co.zw/jobs/trainee-parts-sales-clover-leaf-motors-22/">Trainee Parts Sales – Clover Leaf Motors</a></h2>
An 18-month training program based on motor vehicle spares and parts.
Learn all aspects of Parts Sales from procurement to sales. Requirements include 5 O’ Level passes including Mathematics and English 
3 A’ Level passes <a href="https://zero.pindula.co.zw/jobs/trainee-parts-sales-clover-leaf-motors-22/">=&gt; more</a>
 
<h2><a class="post-li-title" href="https://zero.pindula.co.zw/jobs/field-officer-partners-for-integrated-growth-and-development-pigad-22/">Field Officer: Partners For Integrated Growth And Development (PIGAD)</a></h2>
Partners for Integrated Growth and Development (pigad) a Zimbabwean NGO, is hiring the position of Field Officer. The main purpose of this position is to provide extension services and technical support to smallholder farmers producing eggs and youth operating micro-enterprises in the targeted districts to ensure the development of sustainable enterprises with links to markets. <a href="https://zero.pindula.co.zw/jobs/field-officer-partners-for-integrated-growth-and-development-pigad-22/">=&gt; more</a>
 
<h2><a class="post-li-title" href="https://zero.pindula.co.zw/jobs/interns-volunteers-sos-childrens-villages-zimbabwe-22/">Interns &amp; Volunteers – SOS Children’s Villages Zimbabwe</a></h2>
SOS Children’s Villages Association of Zimbabwe, a member of SOS International, looking for interns to undergo one year of work related learning from the following disciplines – Social Work, Developmental Studies, Psychology, Communications &amp; Media Studies and Finance. This internship will provide the Intern with the opportunity to give back to the community while gaining exposure to practical application of knowledge, develope relevant skills and establishing professional networks. <a href="https://zero.pindula.co.zw/jobs/interns-volunteers-sos-childrens-villages-zimbabwe-22/">=&gt; more</a>
 
<h2><a class="post-li-title" href="https://zero.pindula.co.zw/jobs/finance-assistant-care-international-in-zimbabwe-22/">Finance Assistant – CARE International In Zimbabwe</a></h2>
An international NGO, CARE Zimbabwe’s overall goal is to empower disadvantaged and poor households to meet their basic needs. Programs promote sustainable livelihoods of poor and vulnerable people. 
The Finance Assistant is responsible for overall support in daily operations of the finance section. The Finance Assistant works under the direct supervision of the AP Analyst to ensure payments are done on time to vendors, with valid and accurate support documentation. He/she also helps the AP Analyst in recording transactions in AR and Cash Management module and support in the month end close processes as well as audits. <a href="https://zero.pindula.co.zw/jobs/finance-assistant-care-international-in-zimbabwe-22/">=&gt; more</a>
 
<h2><a class="post-li-title" href="https://zero.pindula.co.zw/jobs/administration-assistant-grade-7-cmed-22/">Administration Assistant: GRADE 7 – CMED</a></h2>
CMED is recruiting an Administration Assistant. The position exists to provide effective reception, secretarial services to the Technical Training Officer and administrative support to the training Centre, as required for its effective and efficient operations. <a href="https://zero.pindula.co.zw/jobs/administration-assistant-grade-7-cmed-22/">=&gt; more</a>
 
<h2><a class="post-li-title" href="https://zero.pindula.co.zw/jobs/administrative-assistantprotocol-assistant-world-health-organisation-who-22/">Administrative Assistant/Protocol Assistant – World Health Organisation (WHO)</a></h2>
The WHO is hiring an Administrative assistant. According to the job advert the position will provide expert advice, research and assistance on all protocol matters to both Diplomatic and National staff: plan, arrange, coordinate, and monitor accreditation issues, assist with Visa, Residential and Temporary Employment Permits submissions for approvals as well as renewals of diplomatic and local cards. Also responsible for confidential and time sensitive information. <a href="https://zero.pindula.co.zw/jobs/administrative-assistantprotocol-assistant-world-health-organisation-who-22/">=&gt; more </a>
<h2> </h2>
<h2><a class="post-li-title" href="https://zero.pindula.co.zw/jobs/mechanic-zinara-22/">Mechanic – Zinara</a></h2>
Zinara is hiring the position of Mechanic to be based in Harare. The person’s responsibilities and duties will include repairs. Maintainance, inspection, and installation of spare pans and conducting diagnostic tests using manual tools and technological devices. <a href="https://zero.pindula.co.zw/jobs/mechanic-zinara-22/">=&gt; more</a>
 
<h2><a class="post-li-title" href="https://zero.pindula.co.zw/jobs/graphic-designer-shumba-money-22/">Graphic Designer – Shumba Money</a></h2>
In the role of Graphic Designer at Shumba Money, the person will design a variety of materials all while adhering to brand standards. This includes presentations and educational materials, print and digital advertising, social media campaigns, event signage and flyers, website visuals, and video content. <a href="https://zero.pindula.co.zw/jobs/graphic-designer-shumba-money-22/">=&gt; more</a>
 
<a href="https://zero.pindula.co.zw/jobs/">Click here to browse more jobs on Pindula</a>

Latest Jobs: Graphic Designers, NGO Field Officers, Admin Assistants, Mechanic, Delta Apprenticeship

The Reserve Bank of Zimbabwe (RBZ) says it will promote the use of the Zimbabwe dollar, among other foreign currencies, as it is ideal for promoting the growth and competitiveness of the economy.
In the Monetary Policy Statement released on the 7th of February 2022, the RBZ said the use of the local currency has helped the economy to grow by 7.8% in 2021. The central bank said:
<blockquote>
The use of the local currency has helped the economy to grow by 7.8% in 2021 following the increased local currency backed aggregate demand that was necessitated by increased agricultural output and expansion in Government infrastructural projects.
</blockquote>
The central bank said it was wrong for Zimbabwe to totally abandon its currency in 2009 as the country did not have sufficient foreign exchange liquidity to meet its foreign currency commitments. The bank said:
<blockquote>
The past experience of the country is quite instructive that promotion of the use of local currency is beneficial. In 2009 the country legislated a fixed exchange rate under the auspices of dollarisation.
Electronic or virtual currency was commingling with physical foreign currency and the two were at par.
With hindsight, what was supposed to have been done then was to allow the local currency to be part of the basket of currencies as evidence on the ground shows that the country did not have sufficient foreign exchange liquidity to meet its foreign currency commitments even under dollarisation.
Legislation of a fixed exchange rate, as was the case in 2009 when the US$ was introduced as the currency of transaction, is not ideal for any economy as it renders the economy uncompetitive and a supermarket economy and gives the wrong impression that foreign currency is a domestic currency that is earned without exporting.
Foreign currency needs to be earned from foreign sources such as exports and remittances and competitiveness of local production becomes very essential to promote exports, and stability of the local currency is key to promoting investment and for value preservation.
</blockquote>
Among other things, the RBZ raised the limit on mobile banking transactions from person to person from ZW$5 000 to ZW$10 000 per transaction and from ZW$35 000 per week to ZW$70 000 per week.
The central bank also resolved to increase the cash withdrawal limit for the banking public from ZW$2 000 to ZW$5 000 per week.
<h4>More: <a href="https://news.pindula.co.zw/">Pindula News</a></h4>

RBZ Rules Out Full Dollarisation

The Reserve Bank of Zimbabwe (RBZ) says the US$50 facility is now limited to pensioners, senior citizens, people living with disability and for medical purposes.
Late last year, the RBZ authorised bureaux de change to sell foreign currency to ordinary walk-in customers in a bid to promote financial inclusion and access to forex for small value transactions.
According to resolutions that were made by the monetary policy committee (MPC) in August 2021, members of the public wishing to buy foreign currency could approach any registered bureau de change to buy the prescribed maximum amount of US$50 per week.
However, in his Monetary Policy Statement (MPS) this Monday, RBZ Governor John Mangudya said the facility was now being abused by some members of the public and the central bank has resolved to limit the facility to certain categories of people. Said Magudya:
<blockquote>
The Bank availed the US$50 Facility to assist members of the public to access foreign currency for small domestic purchases and payments at the official exchange rate through bureaux de change which are allowed to charge up to 10% over the cost of funds. 
The Bank, has, however, noted, with concern the abuses of this Facility by some members of the public.
In this regard, the Bank is refining the US$50 Facility, with immediate effect, to limit it to the vulnerable members of the society, that is pensioners, senior citizens, people living with disability and those requiring forex for medical purposes.
</blockquote>
Those eligible can still, upon production of the national registration identity card, buy the forex from bureaux de change at the official RBZ ruling auction exchange rate plus a commission of just 10 per cent.
Even factoring in the 10 per cent commission, the rate offered by bureaux de change is still significantly lower price than the black market rate.
<h4>More: <a href="https://news.pindula.co.zw/">Pindula News</a></h4>

RBZ Withdraws US$50 Facility From The General Public

The Reserve Bank of Zimbabwe (RBZ) has raised the limit on mobile banking transactions from person to person from ZW$5 000 to ZW$10 000 per transaction and from ZW$35 000 per week to ZW$70 000 per week.
In August 2020, the RBZ ordered a limit on mobile banking transactions (EcoCash, Telecash, OneMoney) for all individuals at a maximum of ZW$5 000 per day and ZW$35 000 per week.
In his Monetary Policy Statement (MSP) issued this Monday, RBZ Governor John Mangudya announced a cocktail of measures the central bank has put in place to promote the use of the Zimbabwe dollar.
The central bank governor also announced that more forex will be availed for fuel service stations that sell fuel in Zimbabwe dollars.
Some of the measures announced by the RBZ  to promote the use of the local currency in domestic transactions include:
<blockquote>
Increasing foreign exchange availability to fuel service stations designated by the Zimbabwe Energy Regulatory Authority (ZERA) to sell fuel in local currency.
… Maintaining minimum deposit rates for savings and time deposits at 10% and 20% respectively, to preserve value for local currency deposits.
… Building foreign exchange reserves to provide the necessary backup support for the local currency to enhance its attractiveness through setting aside 5% of the foreign exchange available for the auction system.
</blockquote>
The RBZ also resolved to increase the limit on mobile banking transactions as follows: The MPS read:
<blockquote>
… person to business from ZW$20 000 to ZW$25 000 per transaction with a maximum limit of ZW$100 000 per week
… person to person from ZW$5 000 to ZW$10 000 per transaction with a limit of ZW$70 000 per week.
… increasing the cash withdrawal limit for the banking public from ZW$2000 to ZW$5000 per week.
</blockquote>
The RBZ said it appreciates the effort being made by banks to enable cashless transactions through digital and electronic banking services to their customers.
The central bank called on members of the public to bank their cash and utilise digital and electronic services, which include credit and debit cards.
It said this will minimise the risk of theft and robberies associated with carrying cash on person or possession of large sums of cash at premises.
<h4>More: <a href="https://news.pindula.co.zw/">Pindula News</a></h4>

RBZ Raises Mobile Banking Transaction Limit To $10 000 Per Day

The Zimbabwe Energy Regulatory Authority (ZERA) has announced Liquid Petroleum Gas (LP Gas) prices for February 2022.
In a public notice this Monday, ZERA set the price of LP gas at US$2.03 and ZWL$234.15 per kilogramme.
This means that the price of gas in US dollars has fallen by US$0.02 from the January price which was pegged at US$2.05, while in Zimbabwe dollars, the price has increased from ZWL$222.32 set in January. ZERA said in the latest notice:
<blockquote>
Operators are advised to display the prices at their retail outlets at a prominent place in clearly legible letters.
Please note that it is permissible to sell LPG at prices below the prescribed prices depending on one’s trading advantages.
</blockquote>
The January price was a decrease from the retail price for LPG of US$2.14 per kilogramme or alternatively, ZWL$222.95 per kilogramme <a href="https://news.pindula.co.zw/2021/12/07/zera-increases-lp-gas-prices-for-december/">announced in December 2021.</a>
This was a significant increase from the November 2021 prices which were pegged at US$2.05 per kilogramme and ZWL$$202.78 per kilogramme respectively
<h4>More: <a href="https://news.pindula.co.zw/">Pindula News</a></h4>

ZERA Slashes LP Gas Price By US$0.02

Reserve Bank of Zimbabwe (RBZ) Governor, Dr John Mangudya, is expected to present the Monetary Policy Statement (MPS) on Tuesday this week.
He will be expected to announce measures to further curb inflationary pressures and stabilise the exchange rate.
Inflation has threatened to rear its ugly head again owing to the continued loss of the local currency on the parallel market, which has negative pass-through effects. Mangudya told The Sunday Mail Business in an interview last week:
<blockquote>
Most of the measures will be contained in the monetary policy to be presented before February 8, 2021, which is Tuesday next week (this week).
</blockquote>
He said the central bank was maintaining a “strict monetary targeting framework” and will introduce more measures to manage liquidity to prevent inflation and exchange rate volatility.
Latest statistics from the central bank indicate that reserve money for the week to January 14, 2022, increased by just over $27 billion. 
Following the introduction of the RBZ forex auction system, the Zimbabwe dollar stabilised but eventually lost significant value since it began being floated in February 2019.
The local unit now trades around $220-$240/US1 on the black market and $116/US$1 on the weekly foreign currency auction.
More: <a href="https://www.sundaymail.co.zw/monetary-policy-expected-on-tuesday">The Sunday Mail</a>

RBZ Governor Mangudya To Present Monetary Policy Statement On Tuesday

Workers’ unions have bemoaned a mismatch between huge profits that are being made by local companies and poor salaries that are then given to workers.
Renowned economist, Doctor Godfrey Kanyenze bemoaned the current deficits and recommended that the Tripartite Negotiation Forum (TNF) is the only way out. He said:
<blockquote>
What we see is the widening gap of inequality, with “the haves” amassing more wealth while the workers continue to drown in poverty. Worse still companies are enjoying a lot of favourable policies like duty exemptions, access to foreign currency at the Reserve Bank of Zimbabwe Foreign Exchange Auction yet they even decline to pay for taxes in the same currency,” Kanyenze said.
They charge for goods and services in US$ or rate salaries at prices which are rated against parallel market rates. There is an urgent need to deal with the matter at the TNF.
</blockquote>
Zimbabwe Congress of Trade Unions president, Florence Taruvinga said they are pushing for the restoration of the salaries that workers earned in 2018. She added:
<blockquote>
It’s a struggle that is continuing and deepening hence making use of any strategy available which will yield results. There is no way employers would opt for any sharing option, that has never been a character of capital.
</blockquote>
Recent data shared by top labour economist, Prosper Chitambara reveals that on average, professionally graded workers are taking home an equivalent of US$180 which is very lower to the incomes being earned by other workers in the SADC region. 
He said as of the second quarter of 2021, the average salary paid to South African employees in the formal sector rose from R23 127 in February 2021 to R23 526, almost equivalent to US$1 568  in May 2021. 
In Zambia, the national average salary is K4393 equivalent to US$258.
Chitambara added that the average salary in Mozambique at 40 200 meticais per month, which is equivalent to US$629.86, while in Eswatini the average income is US$3 580.
More: <a href="https://www.newzimbabwe.com/feature-workers-sink-in-poverty-as-corporates-post-enormous-profits/">NewZimbabwe</a>

Workers, Economists Bemoan Mismatch Between Company Profits And Workers' Salaries

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<a href="https://www.pindula.co.zw/Nelson_Chamisa">Nelson Chamisa</a>, the leader of the opposition <a href="https://www.pindula.co.zw/Citizens%27_Coalition_for_Change">Citizens Coalition for Change (CCC)</a> has criticised the government’s recently announced measures to enhance the domestic use of the Zimbabwe dollar. 
In <a href="https://news.pindula.co.zw/2022/02/05/full-text-measures-being-instituted-by-government-to-enhance-the-zimbabwe-dollar/">a statement</a> published by Pindula News this Saturday, Finance and Economic Development Minister, <a href="https://www.pindula.co.zw/Mthuli_Ncube">Professor Mthuli Ncube</a> said:
<blockquote>
a. All mining royalties are now payable in Zimbabwe Dollars up to a limit of 50% of royalties due.
b. All duties and taxes on the importation of designated motor vehicles are now payable in Zimbabwe dollars again up to a limit of 50% of duties and taxes payable.
c. All domestic taxes due from exporters on their export receipts are now payable in both foreign and local currency in direct proportion to the approved export retention levels. As an example, an exporter who receives foreign currency of say USD1000.00 at a 40% surrender ratio (60% retention) will pay taxes on the 40% in Zimbabwe dollars and the 60% in foreign currency. These measures reflect Government’s commitment to promote the wider use of the Zimbabwe Dollar and to continuously strengthen the economy so as to build long-lasting macro-economic stability.
</blockquote>
In response, Chamisa said:
<blockquote>
This policy hotchpotch is a disaster! We advised them to dollarise but they didn’t listen.Trying to reinforce dedollarization by allowing some taxes &amp; fees to be paid in ZWL using threshold defined here whilst myopically &amp; stubbornly holding on to the USD is policy naivety.
Civil servants must be paid in USD. If government has faith in ZWL it must allow all govt fees &amp; taxes which include toll fees and passport fees and taxes to be in ZWL simple!
</blockquote>
Earlier, his deputy, <a href="https://www.pindula.co.zw/Tendai_Biti">Tendai Biti,</a> a former Finance Minister said the <a href="https://news.pindula.co.zw/2022/02/05/the-us-exemption-on-vehicles-intended-to-benefit-tagwireyi-and-mnangagwa-biti/">government’s move</a> to exempt importers of designated vehicles from paying duties and taxes in United States dollars (US$) is meant to benefit business mogul, <a href="https://www.pindula.co.zw/Kudakwashe_Tagwirei">Kuda Tagwirei</a> and President <a href="https://www.pindula.co.zw/Emmerson_Mnangagwa">Emmerson Mnangagwa.</a>
<h2>More: <a href="https://news.pindula.co.zw/">Pindula News</a></h2>
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"This Policy Hotchpotch Is A Disaster," Chamisa On Government Measures To Enhance Zimbabwe Dollar

The Zimbabwe Energy Regulatory Authority (ZERA) has announced the fuel prices for February 2022. The Authority marginally increased prices of both diesel and petrol. Pindula News presents a statement issued by ZERA:
<blockquote>
<h2>PETROLEUM PRICES REVIEW – FEBRUARY 2022</h2>
Please be advised that the prescribed prices for diesel and blend for February 2022 are as follows:
</blockquote>
<table class="table table-bordered table-hover" id="table_1">
<tbody>
<tr>
<td style="text-align: center;" title="Character Accurarcy=0"> </td>
<td style="text-align: center;" title="Character Accurarcy=97.9">ZWL</td>
<td style="text-align: center;" title="Character Accurarcy=0"> </td>
<td style="text-align: center;" title="Character Accurarcy=0"> </td>
<td style="text-align: center;" title="Character Accurarcy=99.72">US$</td>
</tr>
<tr>
<td style="text-align: center;" title="Character Accurarcy=0"> </td>
<td style="text-align: center;" title="Character Accurarcy=98.13">Diesel 50 (ZWL/litre)</td>
<td style="text-align: center;" title="Character Accurarcy=92.8">Blend – E0 (ZWL/litre)</td>
<td style="text-align: center;" title="Character Accurarcy=97.1">Diesel 50 (US$/litre)</td>
<td style="text-align: center;" title="Character Accurarcy=91.15">Blend E0 (US$/litre)</td>
</tr>
<tr>
<td style="text-align: center;" title="Character Accurarcy=99.65">Maximum prices</td>
<td style="text-align: center;" title="Character Accurarcy=99.76">168.17</td>
<td style="text-align: center;" title="Character Accurarcy=99.72">167.91</td>
<td style="text-align: center;" title="Character Accurarcy=99.72">1.44</td>
<td style="text-align: center;" title="Character Accurarcy=99.84">1.44</td>
</tr>
</tbody>
</table>
<blockquote>
The public and operators are advised that the blending ratio still 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 by the fuel pricing regulations. 
Stakeholders are advised that the petroleum price releases by ZERA can be verified on the official ZERA website, Facebook or Twitter handle.
</blockquote>
The price of Diesel 50 increases from ZWL$149.55 per litre in January to ZWL$168.17per litre. In United States dollars, the price rose from US$1.38 per litre to US$1.44.
Meanwhile, the price of Blend – E0 rose from ZWL$152.87 per litre to ZWL$167.91. In United States Dollars, the price rose from US$1.41 to US$1.44.
<h2>More: <a href="https://news.pindula.co.zw/">Pindula News</a></h2>

ZERA Increases Fuel Prices: February 2022

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Zimbabwe’s former minister of Finance and Economic Development, <a href="https://www.pindula.co.zw/Tendai_Biti">Tendai Biti</a> has said the government’s move to exempt importers of designated vehicles from paying duties and taxes in United States dollars (US$) is meant to benefit business mogul, <a href="https://www.pindula.co.zw/Kudakwashe_Tagwirei">Kuda Tagwirei</a> and President <a href="https://www.pindula.co.zw/Emmerson_Mnangagwa">Emmerson Mnangagwa.</a>
In an <a href="https://news.pindula.co.zw/2022/02/05/full-text-measures-being-instituted-by-government-to-enhance-the-zimbabwe-dollar/">advisory on measures being taken by the government to enhance the domestic use of the Zimbabwe dollar,</a> Finance Minister <a href="https://www.pindula.co.zw/Mthuli_Ncube">Mthuli Ncube</a> said “all duties and taxes on the importation of designated motor vehicles are now payable in Zimbabwe dollars again up to a limit of 50% of duties and taxes payable.” Commenting on the development, Biti said:
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 The new measures announced by Mthuli Ncube reflect the multiple faults of this incompetent ephemeral regime. For starters laws can’t simply be changed in a statement Only a statutory instrument or Act of Parly can change existing tax laws. Mthuli s command is therefore a nullity
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Furthermore laws &amp; tax measures should never have selective application.The exemption on US$ royalties to the mining sector is indiscriminate and betrays State Capture of the regime. It is obvious that Kuda Tagwireyi&amp;his knew humongous presence in the mining sector is the reason
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The US$ exemption on vehicles is ultimately intended to benefit Tagwireyi &amp;his scarfed up partner who have taken over public transport through <a class="link-complex" href="https://twitter.com/search?q=%23ZUPCO" rel="hashtag noopener" target="_blank">#ZUPCO</a> &amp; the <a class="link-complex" href="https://twitter.com/search?q=%23ZUPCO" rel="hashtag noopener" target="_blank">#ZUPCO</a> monopoly. Surely this is the most corrupt&amp; incompetent government in history of governments.
</blockquote>
One Dennis said the advisory was issued to everyone not only to Tagwireyi and Mnangagwa. Added <a href="https://twitter.com/Marcus71543276/status/1489909901992280064">Dennis:</a>
<blockquote>
The law is there it says you pay tax with the currency you earned. Now treasury is saying it’s your choice to either pay half of it in local currency or still continue paying USD IN full. 
</blockquote>
Some observers suggested that a law was not necessary.
<h2 lang="en">More: <a href="https://news.pindula.co.zw/">Pindula News</a></h2>
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The US$ Exemption On Vehicles Intended To Benefit Tagwirei And Mnangagwa - Biti

Zimbabwe’s Finance and Economic Development Minister, Professor Mthuli Ncube has issued an advisory note on measures being instituted by the government to enhance the domestic use of the Zimbabwe dollar. Pindula News presents the advisory:
<blockquote>
<h2>PUBLIC ADVISORY NOTE ON MEASURES BEING INSTITUTED BY GOVERNMENT TO ENHANCE THE DOMESTIC USE OF THE ZIMBABWE DOLLAR</h2>
<h2>BACKGROUND</h2>
1. Government, through various agencies is presently seized with instituting various measures to enhance the formal use of the domestic currency.
2. These measures are also aimed at stemming illegal trade in foreign currency and its associated twin; that of parallel market benchmarking or indexation of prices of goods and services at parallel market exchange rates.
3. The continuation of these practices, which have been identified as significant contributors to price instability in the economy and are imposing downside risks to macro-economic stability, and the erosion of domestic and international competitiveness.
4. Over the past 40 months, the government has instituted numerous initiatives to bring macro-economic stability. These include fiscal consolidation which has resulted in balanced budget performance and the elimination of destabilising fiscal deficits despite major economic shocks such as the 2019-20 droughts, cyclone Idai and the ongoing threat of the Covid-19 pandemic.
5. Furthermore, the restoration of domestic and export competiveness through the re-introduction of the Zimbabwe dollar, has seen rapid gains being made in stabilising the current account, which has also been boosted by increased international remittances, enhanced export performance and notable import substitution effects.
6. Consistent implementation of the monetary targeting framework by the Reserve Bank of Zimbabwe as well as close policy coordination between fiscal and monetary authorities have been key policy milestones towards achieving price stability.
7. These developments have also seen the rapid growth of privately held foreign currency reserves from levels of around US$300million in 2018, to over US$2 billion currently held in Zimbabwean banks. Official reserves have also increased from less than US$100million to over US$1.2 billion currently, which includes, the US$960 million equivalent in SDRs recently availed by the IMF to Zimbabwe.
8. In the intervening period, government has also improved access to foreign currency by all bona fide businesses and individuals through the auction system.
9. Whilst the foreign currency auction system has provided a platform for the continuous and sustainable use of local currency by individuals and corporations it is now imperative to expand the areas which the Zimbabwe Dollar should be used in the economy and further provide incentives for its use.
10.In this regard, the public is advised that the following measures now apply with immediate effect:
a. All mining royalties are now payable in Zimbabwe Dollars up to a limit of 50% of royalties due. 
b. All duties and taxes on the importation of designated motor vehicles are now payable in Zimbabwe dollars again up to a limit of 50% of duties and taxes payable. 
c. All domestic taxes due from exporters on their export receipts are now payable in both foreign and local currency in direct proportion to the approved export retention levels. As an example, an exporter who receives foreign currency of say USD1000.00 at a 40% surrender ratio (60% retention) will pay taxes on the 40% in Zimbabwe dollars and the 60% in foreign currency. These measures reflect Government’s commitment to promote the wider use of the Zimbabwe Dollar and to continuously strengthen the economy so as to build long-lasting macro-economic stability.
This advisory note issued in the public interest.
PROF. MTHULI NCUBE MINISTER OF FINANCE AND ECONOMIC DEVELOPMENT 04 FEBRUARY 2022
</blockquote>
<h2>More: <a href="https://news.pindula.co.zw/">Pindula News</a></h2>

Full Text: Measures Being Instituted By Government To Enhance The Zimbabwe Dollar

Finance and Economic Development Minister, Professor Mthuli Ncube, has said the government has moved to scrap foreign currency duty payment on vehicle imports alongside other measures to enhance the wider use of the Zimbabwean Dollar.
In a statement Friday, Ncube said the measures were being introduced following a stop-gap measure to arrest inflation and promote the local currency. Ncube said:
<blockquote>
All duties and taxes on the importation of designated motor vehicles are now payable in Zimbabwe dollars again up to a limit of 50% of duties and taxes payable and all domestic taxes due from exporters on their export receipts are now payable in both foreign and local currency in direct proportion to the approved export retention. 
All mining royalties are now payable in Zimbabwe Dollars up to a limit of 50% of royalties due.
Government, through various agencies, is presently seized with instituting various measures to enhance the formal use of the domestic currency. These measures are aimed at stemming illegal trade in foreign currency and its associated twin, that of parallel market benchmarking or indexation of prices of goods and services at parallel market exchange rates.
</blockquote>
Under the new measures, if an exporter receives foreign currency, for instance, US$1 000 at a 40% surrender ratio (60% retention), he or she will be obliged 40% of the tax in Zimbabwean and 60% in foreign currency.
Ncube added that the latest developments are prompted by the rapid growth of privately-held foreign currency reserves from levels of around US$300 million in 2018, to over US$2 billion currently in Zimbabwean banks.
He added that official reserves have also increased from less than US$100 million to over US$1.2 billion currently, which includes the US$960 million equivalent in SDRs recently availed by the IMF to Zimbabwe.
<h2>More: <a href="https://news.pindula.co.zw/">Pindula News</a></h2>

All Duties, Taxes On Car Imports Now Payable In Zimbabwe  Dollars - Finance Minister

The Bulawayo Vendors Association (BVA) has written to the City of Bulawayo seeking permission to erect vending stalls along 5th Avenue in the Central Business District.
The proposed vending stalls will run from Lobengula Street to Samuel Parirenyatwa Street.
BVA chairman, Major (Retired) Thomas Zombe told The Sunday News this Thursday that the organisation had submitted its letter to the council Town Clerk, Christopher Dube outlining their plans. Said Zombe:
<blockquote>
We engaged an architect to draw plans for us that will enable us to erect vending stalls along 5th Avenue. The stalls will be rain and sun-proof as well as well-demarcated.
Our architect tried to ensure that both vehicular traffic and shop owners will not be disturbed by the vending stalls.
</blockquote>
Zombe said their proposal if accepted, will go a long way in ending the constant running battles between the Municipal Police and vendors.
He said BVA has already secured funding for the construction of the vending stalls.
<h4>More: <a href="https://www.sundaynews.co.zw/vendors-association-eyes-vending-corridor-in-city-center/">The Sunday News</a></h4>

Vendors’ Association Plans To Occupy Bulawayo's 5th Avenue

Leading tourism group Africa ALBIDA Tourism group (AAT) anticipates an increase in tourist activity this year after the Government recently lifted travel restrictions and opened up the economy.
Under the revised restrictions, fully vaccinated returning residents and tourists are no longer required to go for mandatory quarantine on arrival in Zimbabwe.
The curfew was also moved from 9 PM to midnight following a decline in new coronavirus restrictions.
AAT chief executive Ross Kennedy said that they expect the development to breathe new life into the travel, tourism and hospitality sectors. Said, Kennedy:
<blockquote>
The announcement by the government of Zimbabwe in respect of the easing of restrictions relating to COVID-19 is so important as to be viewed as a lifesaver for tourism.
The pent-up demand for Zimbabwe and the region can now be unlocked, and the impact should be incredibly positive for all in the travel, tourism and hospitality sector.
</blockquote>
A number of airlines have resumed flights to Victoria Falls following a suspension when the Omicron variant of the coronavirus was identified by South African scientists in late November.
Airlines currently flying into Victoria Falls are Fastjet, Ethiopian Airlines, Kenya Airways, British Airways (operated by Comair), Airlink, Air Zimbabwe and Mack Air, as well as charter airlines.
The Lufthansa Group’s new leisure airline Eurowings Discover will start flying into Victoria Falls on 30 March.
Additionally, on 30 June Fastjet will introduce four flights a week between Victoria Falls and Maun (Botswana), as well as flights between Victoria Falls and Nelspruit (South Africa) from 16 March.
AAT operates Victoria Falls Safari Lodge, Victoria Falls Safari Club, Victoria Falls Safari Suites, Lokuthula Lodges and The Boma – Dinner &amp; Drum Show.
<h4>More: <a href="https://vicfallslive.co.zw/index.php/2022/02/02/scrapping-of-covid-restrictions-excites-leading-zimbabwe-tourism-group/">VicFallsLive</a></h4>

Easing Of COVID-19 Restrictions Excites Tourism Industry

Olivine Industries will commission two new production lines in August this year as the company seeks to expand its domestic and regional production capacity and food supply.
The company’s chief executive officer, Sylvester Mangani, said that the new lines will produce margarine and tomato source. He said:
<blockquote>
Between now and July, we will be receiving various pieces of machinery; some are already on the site and we are targeting to launch the new plants in August.
We are happy with the progress and we are confident that our August target will be met.
</blockquote>
In 2019, the African Development Bank (AfDB) approved an US$8.25 million corporate loan to Olivine Industries to support its food production expansion plan.
AfDB however, delayed releasing the funds, forcing Olivine to use its own resources.
The bank expressed concern over how and when the Reserve Bank of Zimbabwe (RBZ) would facilitate the settlement of blocked funds it took over after Zimbabwe re-introduced a local currency, RTGS dollars, in February 2019.
<h4>More: <a href="https://www.chronicle.co.zw/new-olivine-to-commission-2-new-production-lines/">Chronicle</a></h4>

Olivine Set To Commission Two New Production Lines

Telecel Zimbabwe has dismissed reports that there are threats to its operating licence. Pindula News presents the mobile network operator’s statement:
<blockquote>
<h2>Telecel Zimbabwe Network Challenges</h2>
Telecel Zimbabwe would like to draw the publics attention to the current network challenges that it has been experiencing intermittently. At the moment, customers are failing to make voice calls and at times access data services. 
This is due to expired software on the main Mobile Switching Controller (MSC). The software has since been renewed. However, the network is still having call control rejections. 
The Company is working in close co-operation with the vendor Huawei, to rectify the challenge and we are confident of resolution in the shortest possible time. We would like to assure all stakeholders that there is no Regulatory threat to the operating license and we expect normal services to resume as soon as the technical challenge is rectified. We are appealing to our valued subscribers to bear with us during this period.
Issued on behalf of Telecel Zimbabwe by Zitha Dube, 
Public Relations Officer 
148 Seke Road, Graniteside, Harare. 
Tel 04-748321, 073 3 436 060 E-mail: zdube@telecelzim.co.zw Person: Zitha Dube 
</blockquote>
<h2>More: <a href="https://news.pindula.co.zw/">Pindula News</a></h2>

"There Is No Regulatory Threat To The Operating License" - Telecel Zimbabwe

CBZ Holdings Limited (CBZHL) is set to complete the acquisition of a 31.22 percent stake in First Mutual Holdings (FMHL) following approval of the transaction by shareholders at an extraordinary general meeting on Monday.
Group chairman, Marc Holtzman, said the main aim for the transaction was to create an institution that is well-calibrated to take any local risk and support operations in the region. He said during a post-EGM briefing to journalists:
<blockquote>
The intention is to have one big, strong insurance company; therefore, the idea is to merge the operations in the short term and this will be done as soon as possible.
</blockquote>
Prior to the transaction, CBZHL held a 3.23 percent shareholding in FMHL through a special purpose vehicle, PIM Nominees (Pvt) Limited.
The acquisition of the additional shares from NSSA, constituting 31.22 percent of the issued ordinary shares of FMHL, takes CBZ Holdings total shareholding to approximately 34.45 percent.
Mr Holtzman said the <a href="https://news.pindula.co.zw/2022/01/03/cbz-seeks-shareholders-approval-to-acquire-nssa-shares-in-first-mutual/">transaction would be a mixture of cash US$21 million to be paid in 18 months and equity.</a>
 Cash will be raised from the group’s assets and of the US$21 million, US$10 million will be paid within ten days of the fulfilment or waiver of the conditions precedent. 
More: <a href="https://www.chronicle.co.zw/justin-cbz-get-approval-to-buy-fml-stake/">The Chronicle</a>

CBZ Gets Shareholders’ Approval To Acquire NSSA Shares In First Mutual

Analysts have warned that the government’s failure to resolve a perennial currency crisis could push Zimbabwe back into dollarisation.
In the past year, markets have been increasingly rejecting the free-falling local currency in favour of the United States dollar.
In 2009, Zimbabwe dollarised following the collapse of the local currency in 2008 due to hyperinflation.
The Southern African country reverted to its own currency in 2019 but since its return, the Zimbabwe dollar has depreciated by wide margins, triggering fears of the return to the 2008 inflation crisis.
Economic analysts Tuesday said the Zimdollar depreciated to US$1:$230 this month, from US$1:$120 in January last year, a sign that it was fast losing value and the country might find itself redollarising.
On the Reserve Bank of Zimbabwe (RBZ)-facilitated foreign currency auction system, the local currency traded at US$1:$115,42 this week from US$1:$6,32 when the platform was introduced in June 2020.
Top banker Nigel Chanakira told Bloomberg that the writing is on the wall for the Zim dollar. He said:
<blockquote>
We can’t deny the reality. When you get the Zimdollar you spend it quickly. No one wants to save in that currency.
</blockquote>
At the meeting attended by Reserve Bank of Zimbabwe governor John Mangudya and Industry minister Sekai Nzenza, prominent economist Tony Hawkins said Mangudya had failed to preserve the value of the Zim dollar. 
Hawkins said since 2019, prices have gone up 3 000% and the currency’s value has devalued by 99%. He added:
<blockquote>
He (Mangudya) talks about people using the local currency, but if you go to my bank, the hole in the wall (ATM machine) tells you can draw $2 000 which is now worth US$0.88.
</blockquote>
However, Mangudya said shifting from the US dollar to local currency would not be achieved overnight, adding that the central bank was putting in place measures to incentivise the use of the local unit. 
More: <a href="https://www.newsday.co.zw/2022/02/zim-on-verge-of-redollarisation/">NewsDay</a>

"We Can’t Deny The Reality," - Analysts Say Zimbabwe On Verge Of Redollarisation

<a href="https://www.pindula.co.zw/Steward_Bank">Steward Bank</a>, a subsidiary of <a href="https://www.pindula.co.zw/Econet_Wireless_Zimbabwe">Econet Wireless Zimbabwe</a>, says it is in talks to retrench some workers after increasing automation of its banking processes.
The bank said in a statement on Tuesday afternoon:
<blockquote>
 Following the successful deployment of our new core banking, additional automation of our banking processes and the investments we continue to make in our digital transformation journey, Steward Bank has embarked on a retrenchment exercise to rationalize its staffing levels.
Our investments in technology have necessitated the optimization of our organizational structure and the need to reduce staff numbers consistent with our changed operating model.
The bank is consulting with all the affected employees, together with the Works Council, to ensure clarity and transparency in the process and to, as much as possible, mitigate the impact this change will have on the affected staff”.
Steward Bank remains committed to delivering quality services to our customers and supporting all the affected staff and stakeholders.
</blockquote>
This is happening when the Zimbabwe Banks and Allied Workers Union (ZIBAWU) Monday <a href="https://news.pindula.co.zw/2022/02/01/zimbabwe-bank-workers-threaten-to-down-tools-as-usd-salaries-call-is-ignored/">threatened a crippling job action</a>, as they escalated demands for United States dollar-indexed salaries.
<h2>More: <a href="https://news.pindula.co.zw/">Pindula News</a></h2>

"Steward Bank Has Embarked On A Retrenchment Exercise To Rationalize Staffing Levels"

The Zimbabwe Banks and Allied Workers Union (ZIBAWU) Monday threatened a crippling job action, as they escalated demands for United States dollar-indexed salaries.
Bank workers have joined a growing list of sectors pushing for foreign currency-denominated salaries, saying Zimbabwe dollar salaries were now “useless”.
The domestic currency has been on the decline on both the official and parallel market since its reintroduction in 2019 thereby eroding workers’ buying power.
Last year, ZIBAWU said it was not in agreement with a wage increase of about 350% tabled by banks.
The trade union yesterday said the minimum wage in the sector should be US$900. ZIBAWU president Tawanda Mutemi said:
<blockquote>
The banking sector workers want their salaries restored to the 2018 era where the least paid worker got an average of US$900.
Workers in the banking sector are not happy with the salaries that they are earning. It is also true that Zimbabwean banks no longer pay their workers an adequate wage. The same banks are making lots of money in United State dollars. What is more painful is the fact that top management in the banking system are awarding themselves US dollar salaries but are not considering their subordinates.
</blockquote>
He also said ZIBAWU had submitted its demand for foreign currency-indexed salaries to banks adding that workers were going to embark on a job action until their grievances were addressed.
A ZIBAWU official told Bloomberg recently that since the start of the COVID-19 pandemic, the industry has shed nearly 500 jobs and 17% of 300 branches have been closed as banks increasingly rely on digital platforms. 
More: <a href="https://www.bloomberg.com/news/articles/2022-02-01/zimbabwe-bank-workers-eye-strike-as-u-s-dollar-pay-call-shunned">Bloomberg</a>

Zimbabwe Bank Workers Threaten To Down Tools As USD Salaries Call Is Ignored

The value of the Zimbabwe dollar has continued to fall against the US dollar at <a href="https://www.pindula.co.zw/Reserve_Bank_of_Zimbabwe">the Reserve Bank of Zimbabwe (RBZ)</a> foreign currency (forex) auction.
Data released by the central bank following the forex auction conducted on Tuesday, 01 February 2022 indicates that the local currency fell by $1.2277 against the US dollar.
This week the weighted average was US$1: ZWL116.6500 down from the 25 January 2022 rate that stood at US$1: ZWL$ $115.4223.
In total, US$37,548,580.33 was allotted this week, with the bulk of the allotment going to raw materials followed by machinery and equipment. This is a little bit lower than the US$38 775 772.07 million allotted last week.
901 bids were received on the Small to Medium enterprises forex auction, with 783 accepted and 118 disqualified. The total number of bids allotted was 783.
<div class="google-auto-placed ap_container">
On the main forex auction, a total of 546 bids were received, 460 were accepted and 86 were disqualified. The total number of bids allotted was 437.
Bids with overdue CDIs, outstanding Bills of Entry (BOEs), and those with sufficient FCA balances were also disqualified.
Some bids were also allotted on a pro-rata basis.
<table class="table table-bordered table-hover" id="table_2" style="width: 99.8684%; height: 30px;">
<tbody>
<tr>
<td style="width: 40.034%;" title="Character Accurarcy=99.52"> </td>
<td style="width: 29.4284%;" title="Character Accurarcy=99.94">SMEFX73/2022</td>
<td style="width: 118.123%;" title="Character Accurarcy=99.99">MAIN FX79/2022</td>
</tr>
</tbody>
</table>
<table class="table table-bordered table-hover" id="table_2" style="width: 99.9248%;">
<tbody>
<tr>
<td style="width: 40.0467%;" title="Character Accurarcy=99.52">Number of Bids Received :</td>
<td style="text-align: center; width: 29.2255%;" title="Character Accurarcy=99.94">901</td>
<td style="text-align: center; width: 114.864%;" title="Character Accurarcy=99.99">546</td>
</tr>
<tr>
<td style="width: 40.0467%;" title="Character Accurarcy=99.64">Number of Bids Disqualified :</td>
<td style="text-align: center; width: 29.2255%;" title="Character Accurarcy=99.94">118</td>
<td style="text-align: center; width: 114.864%;" title="Character Accurarcy=99.99">86</td>
</tr>
<tr>
<td style="width: 40.0467%;" title="Character Accurarcy=99.8">Total Number of Bids Accepted :</td>
<td style="text-align: center; width: 29.2255%;" title="Character Accurarcy=99.95">783</td>
<td style="text-align: center; width: 114.864%;" title="Character Accurarcy=99.94">460</td>
</tr>
<tr>
<td style="width: 40.0467%;" title="Character Accurarcy=99.87">Total Number of Bids Allotted :</td>
<td style="text-align: center; width: 29.2255%;" title="Character Accurarcy=99.97">783</td>
<td style="text-align: center; width: 114.864%;" title="Character Accurarcy=99.93">437</td>
</tr>
<tr>
<td style="width: 40.0467%;" title="Character Accurarcy=99.65">Total Value of Bids Accepted :</td>
<td style="text-align: center; width: 29.2255%;" title="Character Accurarcy=98.91">USD6,773,484.47</td>
<td style="text-align: center; width: 114.864%;" title="Character Accurarcy=99.57">USD32,275,383.86</td>
</tr>
<tr>
<td style="width: 40.0467%;" title="Character Accurarcy=99.38">Amount Allotted :</td>
<td style="text-align: center; width: 29.2255%;" title="Character Accurarcy=98.72">USD6,773,484.47</td>
<td style="text-align: center; width: 114.864%;" title="Character Accurarcy=99.6">USD30,775,095.86</td>
</tr>
<tr>
<td style="width: 40.0467%;" title="Character Accurarcy=99.16">Highest Rate Received :</td>
<td style="text-align: center; width: 29.2255%;" title="Character Accurarcy=97.88">130.0000</td>
<td style="text-align: center; width: 114.864%;" title="Character Accurarcy=99.48">132.5000</td>
</tr>
<tr>
<td style="width: 40.0467%;" title="Character Accurarcy=99.48">Lowest Bid Rate Received :</td>
<td style="text-align: center; width: 29.2255%;" title="Character Accurarcy=99.33">107.0000</td>
<td style="text-align: center; width: 114.864%;" title="Character Accurarcy=99.9">108.0000</td>
</tr>
<tr>
<td style="width: 40.0467%;" title="Character Accurarcy=99.52">Lowest Bid Rate Allotted :</td>
<td style="text-align: center; width: 29.2255%;" title="Character Accurarcy=99.64">107.0000</td>
<td style="text-align: center; width: 114.864%;" title="Character Accurarcy=99.77">112.8200</td>
</tr>
<tr>
<td style="width: 40.0467%;" title="Character Accurarcy=99.5">Weighted Average Rate :</td>
<td style="text-align: center; width: 29.2255%;" title="Character Accurarcy=99.91">116.6500</td>
<td style="text-align: center; width: 114.864%;" title="Character Accurarcy=0"> </td>
</tr>
</tbody>
</table>
</div>
<table class="table table-bordered table-hover" id="table_1">
<tbody>
<tr>
<td title="Character Accurarcy=99.75">PURPOSE</td>
<td style="text-align: center;" title="Character Accurarcy=99.8">AMOUNT ALLOTTED SME AUCTION</td>
<td style="text-align: center;" title="Character Accurarcy=99.88">AMOUNT ALLOTTED MAIN AUCTION</td>
</tr>
<tr>
<td title="Character Accurarcy=99.96">Raw Materials</td>
<td style="text-align: center;" title="Character Accurarcy=99.91">1,584,646.80</td>
<td style="text-align: center;" title="Character Accurarcy=99.84">13,258,231.07</td>
</tr>
<tr>
<td title="Character Accurarcy=99.97">Machinery and Equipment</td>
<td style="text-align: center;" title="Character Accurarcy=99.84">2,147,777.51</td>
<td style="text-align: center;" title="Character Accurarcy=99.83">7,024,692.98</td>
</tr>
<tr>
<td title="Character Accurarcy=99.68">Consumables (Incl. Spares, Tyres, Electricals, etc)</td>
<td style="text-align: center;" title="Character Accurarcy=99.87">961,908.64</td>
<td style="text-align: center;" title="Character Accurarcy=99.84">2,750,638.64</td>
</tr>
<tr>
<td title="Character Accurarcy=99.34">Services (Loans, Education, Dividends, Disinvestments, etc)</td>
<td style="text-align: center;" title="Character Accurarcy=99.88">1,053,903.16</td>
<td style="text-align: center;" title="Character Accurarcy=99.89">1,922,356.55</td>
</tr>
<tr>
<td title="Character Accurarcy=99.45">Retail and Distribution (Incl. Food, Beverages, etc)</td>
<td style="text-align: center;" title="Character Accurarcy=99.87">554,044.11</td>
<td style="text-align: center;" title="Character Accurarcy=99.8">3,491,211.10</td>
</tr>
<tr>
<td title="Character Accurarcy=99.94">Electricity</td>
<td style="text-align: center;" title="Character Accurarcy=99.86">10,000.00</td>
<td style="text-align: center;" title="Character Accurarcy=0"> </td>
</tr>
<tr>
<td title="Character Accurarcy=99.74">Pharmaceuticals and Chemicals</td>
<td style="text-align: center;" title="Character Accurarcy=99.78">314,122.62</td>
<td style="text-align: center;" title="Character Accurarcy=99.84">1,490,692.27</td>
</tr>
<tr>
<td title="Character Accurarcy=99.96">Paper and Packaging</td>
<td style="text-align: center;" title="Character Accurarcy=99.9">147,081.63</td>
<td style="text-align: center;" title="Character Accurarcy=99.8">837,273.25</td>
</tr>
<tr>
<td title="Character Accurarcy=99.81">TOTAL</td>
<td style="text-align: center;" title="Character Accurarcy=99.89">6,773,484.47</td>
<td style="text-align: center;" title="Character Accurarcy=99.87">30,775,095.86</td>
</tr>
<tr>
<td title="Character Accurarcy=99.89">GRAND TOTAL AWARDED</td>
<td style="text-align: center;" title="Character Accurarcy=0"> </td>
<td style="text-align: center;" title="Character Accurarcy=99.9">37,548,580.33</td>
</tr>
</tbody>
</table>
<h2>More: <a href="https://news.pindula.co.zw/">Pindula News</a></h2>

RBZ Forex Auction Results – 01 February 2022

The Johannesburg High Court on Monday dismissed Peter Moyo’s case against Old Mutual, which may be a final blow to the former CEO’s hope of getting R250 million from the insurer.
Moyo sued the insurer for contractual damages amounting to the total he would have earned for the remainder of his contract, had Old Mutual not fired him in June 2019.
The company said he wanted R230 million for contractual damages and another R20 million for the “insults” and impairment of his dignity caused by the statements that the company and its directors made in the media.
Old Mutual filed a court application last week to have Moyo’s case thrown out, with the company contending that there was nothing new in his argument.
Old Mutual said its former CEO was repeating arguments that had already been rejected by the courts before.
Judge Gregory Charles Wright seemingly agreed with the insurer. He found that Moyo failed to produce any evidence to show that Old Mutual wrongfully terminated his contract.
Moyo had brought the damages claim to court because he maintained that Old Mutual fired him unlawfully, even though a full-court ruled otherwise in 2020. 
While he won a few rounds against the insurer at the beginning of their public legal battle in 2019, higher courts have rejected Moyo’s arguments.
Moyo even took his fight to Bloemfontein after the full bench judgment in 2020. But the Supreme Court of Appeal turned him down too.
Old Mutual wrote after the judgment:
<blockquote>
The Court said it agreed with and was bound by similar findings made by a full bench of the High Court in January 2020, which also found Old Mutual had acted lawfully in terminating Mr Moyo’s contract.
</blockquote>
On his claim for loss of dignity caused by the insulting remarks made when he was fired, the court also found no evidence to support this.
With this case thrown out, Moyo is now waiting to hear if he won or lost his application to have Old Mutual directors declared lawbreakers for blocking his temporary reinstatement when the Johannesburg High Court ordered it to do so in July 2019.
More: Fin24

Peter Moyo Has Lost R250M Old Mutual Court Challenge

The first half of 2022 represents some unique opportunities for traders and investors. That’s true for beginners and experienced adults who enjoy making the most of exceptional circumstances. Currently, the stock market is riding at all-time highs, even amid a global pandemic, supply chain problems, political instability, and significant inflationary pressures. How can traders leverage the volatility of the markets and maximize their chance of earning a profit in uncertain times?
First, it’s imperative to analyze the whole situation and examine a few of the core components of today’s economic environment. That means taking a close look at how so many factors work together to create a marketplace in which the winners will be the ones who took the time to analyze and study the situation. In addition, it’s helpful to understand that volatility is a significant factor in the whole scenario.
All trading and investing enthusiasts must take volatility into account when they put their hard-earned capital at risk. What are some of the best opportunities in today’s unusual financial climate? Besides medical stocks, which seem to do well even in the worst of times, people should consider cryptocurrency, precious metals, forex, dividend-paying stocks, and more. Knowledge is power and step one of any <a href="https://www.sec.gov/investor/pubs/tenthingstoconsider.htm">investing strategy</a> begins with reviewing the central facts. Here’s a list of essential points to keep in mind as you prepare to trade and invest.
<h2>Price Volatility Can Be Your Friend</h2>
The Volatility 75 Index, also called the VIX, can point the way for anyone who wants to know what the near-term market is going to do. If you ask <a href="https://www.avatrade.co.za/cfd-trading/indices/vix-index">what is volatility 75 index</a>, then you are in for a pleasant surprise. Since 1993, the VIX has shown professional and independent market enthusiasts what to expect in terms of price volatility.
Some enjoy buying and selling in wild markets because there are lots of opportunities to scalp profits in a short period of time. Others use the VIX to alert them to get out of roller coaster price periods. Generally, when the VIX value is greater than 30, there’s a likelihood that volatility is on the rise and traders are in a state of relative fear. The indicator is one of the best warning signs of coming turbulence, which helps people adapt their orders or simply get out of the market altogether.
<h2>Medical Stocks Look Good</h2>
Primarily driven to new highs by pandemic-related factors, medical and healthcare stocks are on a major run. Note that several of the largest pharmaceutical firms are making a killing on vaccines, while other manufacturers are witnessing an increase in sales of things like face masks, disinfectant liquids, medical cleaning supplies, and more.
<h2>Shorting Against an All Time High Might Work</h2>
Read any of the financial publishers, and you’re likely to see at least one prediction of doom. Those who fear that the world’s major exchanges have topped out are usually the first to suggest short selling as a way to snag significant profits. Whether they’re right about today’s high-water mark or not, there is some evidence.
For example, the world’s most-watched index, the S&amp;P 500, has risen almost steadily for the past seven years, with a short downturn during the early days of the COVID pandemic. But sometime in early January, the S&amp;P reached a value of 4,796 and began to fall almost immediately. Since then, the index has dropped 386 more points to 4,410. Is this the beginning of the big correction that so many have been expecting? Time will tell.
<h2>Cryptocurrency’s Time Has Come</h2>
When stock markets run into trouble, cryptocurrencies like bitcoin and Ethereum usually enjoy a good spate of price increases. But even with widespread adoption and plenty of positive media coverage, the sector’s most significant player, bitcoin, has had a rough couple of months. And you should be aware of <a href="https://news.pindula.co.zw/2021/12/10/bulawayo-woman-loses-over-us5-000-after-investing-in-a-bitcoin-pyramid-scheme/">bitcoin pyramid scheme scams</a> that masquerade as attractive opportunities. From a high of $64,400 in mid-November 2021, the alt-coin has fallen $28,000 to $36,400 in a matter of about seven weeks. This could be the year when bitcoin surges back to a new high, as it often does immediately after taking a beating.
<h2>Precious Metals Can Soften Losses</h2>
Historically, owners of gold and silver get some relief when stocks tumble. For all sorts of reasons, people view precious metals as a kind of safe haven in times of economic turmoil. If the world’s major stock indices experience a correction any time soon, the price of gold and other precious metals could be in for a big rise. Consider hedging your portfolio against devaluation by adding a small percentage of gold or silver, or both, to the mix.

Trading and Investment Opportunities in 2022

The <a href="https://www.pindula.co.zw/Zimbabwe_Revenue_Authority">Zimbabwe Revenue Authority (ZIMRA)</a> has said the authority surpassed revenue targets despite a number of challenges the whole nation faced in 2021. The taxman announced this in its revenue performance report for the fourth quarter of 2021. Pindula News presents ZIMRA’s report:
<blockquote>
1. Introduction
The general economic environment weakened marginally in the fourth quarter of 2021 with year-on-year inflation increasing by 9.19% percentage points from 51.55% as at end of September 2021 to 60.74% by end of December 2021. Economic growth is projected at 7.8% driven by electricity generation, agriculture, mining and infrastructure developments. On the other hand, local currency further weakened against the US dollar during the quarter from 87.6653 at the end of September 2021 to 108.70 at the end of December 2021. 
The year 2021 ended on a positive note in terms of revenue collections as ZIMRA surpassed revenue targets despite a number of challenges that confronted the Revenue Authority and the nation as a whole.
The biggest adversity was the continued COVID-19 pandemic that affected business operations and led to death of fellow citizens and some of the Authority’s staff.
ZIMRA continued to support the Government‘s National Development Strategy 1 (NDS-1) through implementation of various revenue collection and trade facilitation strategies.
2. Domestic Revenue Mobilization (DRM)
This report gives a summary of the 2021 annual net revenue collection performance and also provides a review of ZIMRA’s strategic performance for the quarter ended 31 December 2021. 
2.1 Revenue Performance for Q4 2021
Gross collections for the fourth quarter amounted to ZWL$161.08 billion, against a target of ZWL$108.17 billion (48.91% above target). The Authority paid out refunds of ZWL$3.90 billion during the quarter under review. Table 1 below shows that net collections for the quarter were 
ZWL$157.19 billion (45.31% above target).
</blockquote>
Download: <a href="https://t792ae.c2.acecdn.net/wp-content/uploads/2022/01/Revenue-performance-report-for-the-fourth-quarter-of-2021-1.pdf">Revenue performance report for the fourth quarter of 2021</a>

Revenue Performance Report Q4 2021: ZIMRA Surpass Revenue Targets Despite Challenges

The Zimbabwe Revenue Authority (ZIMRA) Board has appointed <a href="https://www.pindula.co.zw/Regina_Chinamasa">Ms Regina Chinamasa</a> as the Acting Commissioner General of the taxman effective 1 February 2022.
ZIMRA Board vice-chairperson, Mrs Matambo announced the development in a statement issued on Monday the 31st of January 2022. Pindula News presents the statement:
<blockquote>
<h2>APPOINTMENT OF MS REGINA CHINAMASA AS ACTING COMMISSIONER-GENERAL WITH EFFECT FROM 1 FEBRUARY 2022</h2>
Harare, 31 January 2022
The Zimbabwe Revenue Authority (ZIMRA) Board wishes to inform stakeholders and the public of the appointment of Ms Regina Chinamasa as the Acting Commissioner General of the Authority with effect from 1 February 2022, while the Board is processing the recruitment of the substantive Commissioner-General.
Commissioner Chinamasa takes over from Mr Masaire who is retiring from the Authority effective 31 January 2022. 
Ms Chinamasa is a tax expert with over 28 years of diverse experience in the field of revenue mobilisation and enforcement of compliance to fiscal laws.
Currently, Ms Chinamasa is the Commissioner for Revenue Assurance in which position she is credited for introducing various processes that are plugging revenue leakages through modem investigative and compliance systems. She also has vast experience in domestic taxes and customs and excise fields.
Ms Chinamasa started her career as a Tax Assessor in 1994 in the then Department of Taxes and joined the Investigation Division of ZIMRA at its inception in 2001. She moved to Customs and Excise in 2011 as Head of Compliance and Risk Management. She was part of the team that introduced the authorised economic operators (AEOs) trade facilitation, post-clearance audits among other innovations. From 2014, she moved to Domestic Taxes and served in various leadership roles from Head level to acting as Commissioner Domestic Taxes between 2016 and 2018.
During her career, she led various strategic and transformative initiatives and processes which resulted in improved stakeholder engagements, improved compliance levels and reinforcement and strengthening of revenue collection processes of the Authority. 
The ZIMRA Board wishes Ms Chinamasa the best in her new role as Acting Commissioner-General.
BY ORDER OF THE BOARD MRS J. MATAMBO – ZIMRA BOARD VICE-CHAIRPERSON
</blockquote>
<h2>More: <a href="https://news.pindula.co.zw/">Pindula News</a></h2>

ZIMRA Appoints Regina Chinamasa As Acting Commissioner General

Some economic analysts believe that the Zimbabwe dollar will be demonetised in the foreseeable future as more and more transactions are being done using the United States dollar.
According to Bloomberg, when Nigel Chanakira, founder and former CEO of now-closed bank Kingdom Financial Holdings Ltd, asked 100 chief executive officers at a seminar in Harare on 27 January if they were willing to use the local currency, only one raised his hand.
The lone defender of the Zimbabwe dollar at Chanakira’s meeting was Alois Burutsa, the general manager of Buy Zimbabwe, an organisation that promotes local goods.
In an interview with Bloomberg, Burutsa said that “without our own currency, our exports become uncompetitive.”
Zimbabwe abandoned its currency in 2009 due to hyperinflation and adopted a multi-currency regime that was dominated by the US dollar.
In February 2019, the government dropped the US$1: $1 fixed exchange rate and moved it to US$1: $2.5.
In June of the same year, the RTGS dollar was rechristened the Zimbabwe dollar and the use of foreign currency was briefly banned.
Restaurants and supermarkets are now offering huge discounts when customers purchase goods in US dollars.
The government itself paid civil servants their 2021 bonuses in US dollars, and ZIMRA collects a third of its income in greenbacks.
Companies need foreign currency to pay for imported equipment, consumer goods, and to incentivise an increasingly dissatisfied workforce.
While inflation slowed from a 12-year high of 837% in July 2020, it was at 61% in January, still rapidly eroding the value of the local unit. Said Chanakira:
<blockquote>
We can’t deny the reality. When you get the Zimbabwe dollar you spend it quickly. No one wants to save in that currency.
</blockquote>
Both Reserve Bank of Zimbabwe Governor John Mangudya and Finance Minister Mthuli Ncube both insist that the country is not dollarising.
But Gift Mugano, executive director at Africa Economic Development Strategies, a Harare-based consultancy predicts the Zimbabwe dollar “will be in the graveyard” by June. He said:
<blockquote>
Dollarization is the ultimate outcome of a failed economic policy.
</blockquote>
Chanakira was more optimistic: he said the local currency could survive for another two years.
<h4>More: <a href="https://www.bnnbloomberg.ca/zimbabwe-dollar-s-second-death-seen-as-only-a-matter-of-time-1.1715656">Bloomberg</a></h4>

"Zim Dollar’s Second Death Only A Matter Of Time"

The Government has availed, through Kuvimba Mining House, US$400 000 to the Deposit Protection Commission (DPC) to compensate small and vulnerable depositors whose bank deposits lost value when monetary authorities arbitrarily moved the exchange rate from US$1: $1 to US$1: $2.5 in February 2019.
In November 2020, Finance Minister Mthuli Ncube announced that the Government will compensate small and vulnerable depositors who had balances of US$1 000 and below as of 20 February 2019.
The initial tranche of US$400 000 has been allocated to eligible depositors who had funds in the Deposit Taking Microfinance Institutions (DTMFIs).
The depositors will receive compensation to the full extent of their respective loss of value, and not the full amount they had deposited.
For instance, a depositor who had US$1 000 in his or her account will get only US$600.
In a statement, DPC chief executive officer Mr Vusi Vuma confirmed receipt of the US$400 000 and urged those eligible are to submit their claims to DTMFIs, with their window period to do so set to expire on 7 November 2022. He said:
<blockquote>
Government has now availed through Kuvimba Mining House the sum of US$400 000 to the Deposit Protection Corporation as an agent for distribution to vulnerable depositors.
Given the available resources, several scenarios were iteratively evaluated to identify a method that offers the best compensation to depositors.
The Deposit Protection Corporation wishes to advise the banking public that in the meantime, the initial tranche of US$400 000 will be allocated to eligible depositors who had balances of US$1 000 and below in the Deposit-Taking Microfinance Institutions, to pay for the loss of deposit value occasioned by exchange rate movement from USD1: 2,5, as at 20 February 2019.
Accordingly, qualifying depositors are advised to submit their claims as of 20 February 2019 within a period of 12 months running from 8 November 2021 to 7 November 2022 to their respective registered Deposit-Taking Microfinance Institutions namely: African Century Limited; Getbucks Microfinance Bank; EmpowerBank Limited; Zimbabwe Women’s Microfinance Bank; Success Microfinance Bank Limited; and Lion Microfinance Limited.
The Deposit-Taking Microfinance Institutions will periodically submit the schedule of claims to the Deposit Protection Corporation for verification, validation, and subsequent remittance of the requisite payment to the Deposit-Taking Microfinance Institutions for onward settlement to eligible depositors in USD without incurring transaction costs.
The Minister of Finance and Economic Development, Deposit Protection Corporation, the Reserve Bank of Zimbabwe, and the banking sector have reached an agreement in that regard.
After compensating depositors of Deposit-Taking Microfinance Institutions, subsequent tranches for disbursement would be allocated to remaining deposit-taking institutions namely commercial banks, building societies, savings banks, and infrastructure banks, as and when additional funds are availed.
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<h4>More: <a href="https://www.sundaynews.co.zw/govt-to-pay-us-to-depositors/">The Sunday News</a></h4>

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