RBZ Rate Cut, Zimra Blitz Dominate

Zimbabwe's central bank slashes benchmark rate to 30%, while revenue authority impounds 110 vehicles.

RBZ Slashes Benchmark Rate to 30 Percent

Reserve Bank of Zimbabwe cuts policy rate from 35% to 30% effective immediately.

The Reserve Bank of Zimbabwe slashed its benchmark policy rate to 30 percent from 35 percent with immediate effect. The Monetary Policy Committee cited a fundamental shift toward low and stable inflation as the reason for the reduction. The rate cut aims to support the country's envisaged economic growth trajectory while aligning lending costs with the new inflation environment. Critics warn that lower rates could reignite inflationary pressures if consumer demand outpaces supply. Businesses have welcomed the move, saying it reduces borrowing costs. The core vulnerability is the delicate balance between stimulating growth and maintaining price stability.

Zimra Impounds 110 Vehicles in Customs Blitz

Zimbabwe Revenue Authority seizes 110 luxury vehicles in Harare crackdown on customs leakages.

The Zimbabwe Revenue Authority impounded about 110 vehicles in Harare as part of a joint national crackdown targeting rampant customs leakages. The operation focuses on luxury cars whose owners evaded import duties. The blitz marks a fresh enforcement push by Zimra and other law enforcement agencies. The crackdown aims to recover millions of dollars in lost revenue.

Government Orders Nationwide Demolitions of Illegal Houses

Government orders demolition of all illegal houses and structures nationwide to restore order and enhance public safety.

The government ordered the demolition of all illegal houses and structures nationwide to restore order and enhance public safety. The directive applies to both urban and rural areas, targeting unapproved developments. The move follows years of uncontrolled construction on undesignated land. Local authorities have been instructed to identify and remove all illegal structures. Property owners face losing their investments without compensation. The core vulnerability is the risk of mass displacement without adequate alternative housing provisions.

ZCDC Loses Supreme Court Appeal

Supreme Court dismisses ZCDC appeal, upholding earlier ruling against the diamond mining company.

The Supreme Court dismissed an appeal by the Zimbabwe Consolidated Diamond Company, ruling against the state-owned diamond miner. The judgment upholds a previous lower court decision that found against ZCDC. The case centered on a legal dispute whose details remain undisclosed. The ruling represents a significant legal setback for the diamond company, which is a key player in Zimbabwe's mining sector. The company now faces potential financial liabilities. The core vulnerability is the impact of the loss on ZCDC's operational stability and investor confidence.

Resident Sues Harare Over Prepaid Water Meters

Harare resident Bernadette Makaya sues city council to stop rollout of prepaid water meters.

A Harare resident filed an urgent High Court application to stop the rollout of prepaid water meters in the capital. Bernadette Makaya, represented by Zimbabwe Lawyers for Human Rights, argues the system violates existing water laws. The lawsuit targets the City of Harare and a private water company, Helcraw. Makaya claims prepaid meters deny residents access to water as a basic human right. The court will determine whether the meters contravene the Urban Councils Act and Harare Water By-Laws. The core vulnerability is the potential for prepaid systems to exclude vulnerable households from essential services.

Domestic Workers Get US$90 Minimum Wage

Cabinet approves US$90 monthly minimum wage for domestic workers, effective immediately.

The government approved new minimum wages for domestic workers, setting the rate at US$90 per month with immediate effect. Workers in unclassified operations will receive US$270 monthly under the new structure. The gazetted rates apply to gardeners, cooks, housekeepers, and minders. The increase aims to improve livelihoods for thousands of low-income workers.

Foreign Currency Reserves Hit US$1.5 Billion

Zimbabwe's foreign currency reserves backing the ZiG surged to US$1.5 billion by May 2026.

Zimbabwe's foreign currency reserves backing the ZiG increased to US$1.5 billion as of May 2026, providing approximately 1.5 months of import cover. This marks a sharp rise from the US$276 million held when the ZiG launched in April 2024. The surge reflects improved export earnings and tighter monetary management. The ZiG is backed by gold and foreign currency reserves. The reserve buildup strengthens the central bank's ability to defend the currency. The core vulnerability is the reserves' reliance on volatile mineral export revenues.

Forex Inflows Surge to US$8.3 Billion

Zimbabwe's foreign currency earnings rise 39.1% to US$8.3 billion in first five months of 2026.

Zimbabwe's foreign currency earnings increased by 39.1 percent to US$8.3 billion during the first five months of 2026. The figure, released by RBZ Governor John Mushayavanhu, marks a significant jump from the US$6 billion recorded in the same period in 2025. The growth is driven by robust economic momentum and favorable commodity prices. The inflows strengthen the country's external position and support the local currency. The core vulnerability is the exposure to global commodity price fluctuations and external demand shocks.

Coltart Warns Over Unpaid BEAM Funds

Bulawayo mayor David Coltart raises alarm over chronic non-payment of Basic Education Assistance Module funds.

Bulawayo mayor David Coltart raised alarm over the non-payment of Basic Education Assistance Module funds, warning thousands of children face disruption to their schooling. The BEAM program provides tuition support for vulnerable pupils. The chronic non-payment has left schools and beneficiaries in financial distress. Coltart called on the government to release the funds urgently to prevent children from dropping out.

Nine Killed in Bus-Train Collision at Chiredzi

Nine people killed, 25 injured when bus collides with goods train at a level crossing in Chiredzi.

Nine people lost their lives and 25 others were injured on Tuesday morning when a passenger bus collided with a goods train at a rail-level crossing in Chiredzi. Two of the deceased were minors. The accident occurred at an uncontrolled crossing. Emergency services transported the injured to local hospitals. The bus was carrying passengers when it struck the NRZ train. The core vulnerability is the lack of safety barriers at many level crossings across the country.

The Jeere 2026-06-17  ·  stories

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