How Mr Karinga lost his car to thieves while having a nice time in nightclub

A motorist lost his vehicle in Harare after leaving the keys in the ignition and failing to lock the doors while having a nice time in a nightclub, police have said. Midmore Karinga, from Chinhoyi, had parked his red Isuzu 2-tonne truck outside a night…

A motorist lost his vehicle in Harare after leaving the keys in the ignition and failing to lock the doors while having a nice time in a nightclub, police have said. Midmore Karinga, from Chinhoyi, had parked his red Isuzu 2-tonne truck outside a nightclub along Harare Street before going inside. When he returned about […]

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Many years in prison for 4 men from Gwanda, Zhombe, Bulawayo and Mberengwa after enjoying illegal lula lula

Four men from Gwanda, Zhombe, Bulawayo and Mberengwa have been handed lengthy prison sentences in separate rape cases involving children and an adult woman, with a combined total of 59 years imposed by the courts. The cases, heard in different parts of…

Four men from Gwanda, Zhombe, Bulawayo and Mberengwa have been handed lengthy prison sentences in separate rape cases involving children and an adult woman, with a combined total of 59 years imposed by the courts. The cases, heard in different parts of Zimbabwe, include the conviction of a 73-year-old grandfather who repeatedly abused his 13-year-old […]

The post Many years in prison for 4 men from Gwanda, Zhombe, Bulawayo and Mberengwa after enjoying illegal lula lula first appeared on My Zimbabwe News.

Zimbabwe Central Bank Urges Banks to Cut Lending Rates

HARARE — The Reserve Bank of Zimbabwe is pressing commercial banks to pass recent monetary policy easing through to borrowers, arguing that persistently expensive credit is constraining investment and limiting the flow of finance into productive sectors of the economy. The central bank has progressively reduced its policy rate from 35% to 25%, while the […]

The post Zimbabwe Central Bank Urges Banks to Cut Lending Rates appeared first on The Zimbabwe Mail.

HARARE — The Reserve Bank of Zimbabwe is pressing commercial banks to pass recent monetary policy easing through to borrowers, arguing that persistently expensive credit is constraining investment and limiting the flow of finance into productive sectors of the economy.

The central bank has progressively reduced its policy rate from 35% to 25%, while the interest rate on funding under the Targeted Finance Facility (TFF) has been cut from 20% to 15%. The policy shift is intended to lower the cost of finance for businesses, particularly those operating in agriculture, manufacturing, mining and other sectors capable of expanding production and employment.

The issue now is transmission. Lower central-bank rates have little practical effect on the wider economy if commercial banks continue charging businesses lending rates that remain prohibitively high.

For companies, the cost of credit directly influences decisions on working capital, inventory, equipment purchases, factory expansion and new production capacity. Where borrowing costs exceed the expected return from an investment, otherwise viable projects are likely to be postponed or abandoned.

Monetary easing must reach the real economy

The RBZ’s intervention reflects a broader economic principle: monetary policy becomes effective only when changes in the central bank’s policy stance are transmitted through the financial system into household and corporate borrowing.

A lower policy rate should, in theory, reduce banks’ marginal cost of funds and eventually translate into cheaper credit. That process can stimulate private-sector investment, increase demand for capital goods and improve productive capacity.

But the transmission mechanism is neither automatic nor immediate.

Banks must still price loans for credit risk, liquidity, operating costs, capital requirements and expected inflation. In Zimbabwe’s case, businesses also operate against a background of exchange-rate uncertainty and uneven cash flows, which can cause lenders to maintain substantial risk premiums even when the policy rate falls.

The RBZ’s challenge is therefore to ensure that monetary easing does not remain confined to the banking system’s balance sheet but reaches businesses capable of converting credit into economic output.

Productive sectors at the centre of the strategy

Agriculture, manufacturing and mining are particularly important because additional financing in these sectors can generate output rather than merely increase consumption.

A manufacturer able to obtain affordable working capital can purchase raw materials, increase production and utilise previously idle capacity. An agricultural producer can finance inputs, irrigation and equipment. A mining company can fund exploration, processing capacity or productivity-enhancing machinery.

The economic multiplier from such lending can be considerably larger than that associated with credit used primarily for short-term consumption.

This is why the cost of borrowing matters beyond individual businesses. If productive companies cannot access reasonably priced finance, Zimbabwe risks constraining investment precisely when it needs higher domestic production and greater industrial capacity.

The cost of waiting

High interest rates also create an opportunity cost for businesses.

A company considering a new factory may calculate that a project can generate a 15% annual return. If the cost of debt is materially above that level, borrowing becomes economically unattractive even though the underlying project is productive.

The same applies to smaller businesses. Expensive overdrafts and working-capital facilities can absorb margins that would otherwise have been reinvested into stock, machinery, employment or expansion.

Lower lending rates can consequently alter corporate behaviour by making projects that were previously marginal financially viable.

For banks, however, the response must be balanced against credit risk. An aggressive reduction in lending rates without adequate underwriting could simply transfer risk from borrowers to bank balance sheets. The objective should therefore be cheaper productive credit, not indiscriminate credit expansion.

A test for Zimbabwe’s banking sector

The RBZ’s latest position places commercial banks at the centre of the next phase of economic recovery.

The question is no longer simply whether monetary policy has become less restrictive. It is whether the banking sector will transmit that easing sufficiently to alter investment decisions in the real economy.

If lending rates fall, viable businesses should have greater capacity to finance inventories, modernise equipment, expand production and undertake new capital projects. Increased investment should, in turn, support employment, domestic supply and economic growth.

For Zimbabwe, the ultimate measure of monetary easing will therefore not be the movement of the policy rate from 35% to 25%.

It will be whether a manufacturer can borrow more cheaply, an agricultural producer can finance the next season, a mining company can expand capacity and a growing business can obtain working capital without the cost of finance making the underlying investment uneconomic.

That is the transmission mechanism the RBZ is now trying to unlock.

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Dinson Steel Targets Threefold Output Increase as Zimbabwe Pushes to Expand Regional Footprint

HARARE — Dinson Iron and Steel Company (Disco) plans to raise annual steel production at its Manhize plant to about 1.8 million tonnes, nearly three times its current installed capacity of 600,000 tonnes, as the Chinese-owned steelmaker moves to broaden its product range and strengthen its position in regional markets. Dinson chief executive Benson Xu […]

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HARARE — Dinson Iron and Steel Company (Disco) plans to raise annual steel production at its Manhize plant to about 1.8 million tonnes, nearly three times its current installed capacity of 600,000 tonnes, as the Chinese-owned steelmaker moves to broaden its product range and strengthen its position in regional markets.

Dinson chief executive Benson Xu told Parliament’s Portfolio Committee on Mines that Zimbabwe’s ability to realise its full steel-production potential would depend heavily on improvements to the country’s rail infrastructure. The company is also in discussions with Mutapa Investment Fund over a possible joint venture, potentially deepening state participation in the development of the steel industry.

As The Zimbabwe Financial Mail reports, the proposed expansion comes as Dinson seeks to move beyond its existing production base and build a broader integrated industrial operation. The company is diversifying its steel products while examining additional opportunities to process metallurgical coal for use in its furnaces.

The expansion is also being accompanied by downstream industrial projects. Dinson expects its new cement plant to begin production in the fourth quarter, adding another manufacturing stream to the Manhize complex and potentially strengthening the project’s integration with Zimbabwe’s wider construction and infrastructure economy.

Rail infrastructure becomes critical

The planned increase in steel output places transport infrastructure at the centre of Zimbabwe’s industrialisation strategy.

Xu told legislators that Zimbabwe would require more efficient rail infrastructure if the country is to fully exploit its steel potential. Higher production would inevitably increase the movement of iron ore, coal, limestone and finished steel, making rail capacity increasingly important to the economics of the operation.

NewZwire reported that Dinson is already engaging Mutapa over a possible joint venture, while the company continues to expand its industrial footprint around Manhize.

The potential partnership would come as Zimbabwe attempts to use state-owned investment vehicles and strategic assets to support industrialisation, particularly in mining, metals and manufacturing.

Regional markets present both opportunity and risk

Dinson’s expansion comes against a complicated regional trading environment.

Zimbabwean steel producers face tariff barriers in some neighbouring markets. Zambia, for example, imposes a 30% tariff on certain Zimbabwean steel products, potentially limiting the competitiveness of local producers seeking to expand exports.

South Africa presents another important market. ArcelorMittal South Africa has previously raised concerns about competition from Zimbabwean steel imports, particularly as Dinson increases production.

Xu, however, said Dinson does not regard South Africa’s steel industry as a direct competitor.

“We do not see South Africa as competition,” Xu said, while expressing concern that Pretoria could introduce higher surtaxes affecting Zimbabwean steel exports.

The issue highlights the central challenge facing Dinson’s expansion: producing more steel is only one part of the equation. The company must also secure competitive access to regional markets, transport its products efficiently and manage tariff and trade-policy risks.

Dinson seeks easier operating environment

The company has also raised concerns over the cost and administration of operating in Zimbabwe.

Dinson currently holds a nine-year land lease for the Manhize development and is seeking an extension. Management has complained that it is required to pay fees to multiple Government agencies in relation to the same lease, adding to the cost and complexity of operating the project.

The company is also seeking changes to the classification of steel under Zimbabwe’s mineral regulatory framework.

Dinson argues that treating steel as a mineral creates unnecessary administrative delays in the sale and movement of finished products. Removing steel from that classification, it says, could streamline transactions and improve the efficiency of the business.

For Zimbabwe’s broader industrialisation ambitions, those concerns are significant. The country’s ability to attract large-scale manufacturing investment will depend not only on mineral resources and capital availability but also on the speed and predictability with which investors can operate.

Expansion raises the stakes for Zimbabwe’s steel industry

Dinson’s proposed threefold increase in production would represent a major escalation in Zimbabwe’s steel ambitions.

At 1.8 million tonnes a year, the Manhize operation would become a substantially larger regional producer, increasing demand for rail capacity, energy, raw materials and downstream markets.

The investment could also deepen the country’s import-substitution strategy while creating opportunities for downstream manufacturers using locally produced steel.

But the expansion will ultimately be judged on more than production volumes. Competitive energy costs, reliable transport, access to regional markets, tariff conditions and a predictable regulatory environment will determine whether Zimbabwean steel can translate greater capacity into sustainable export earnings.

For now, Dinson’s strategy points towards a broader industrial model in which steel, coal processing and cement production are developed around a single integrated industrial base.

As The Zimbabwe Financial Mail notes, the next phase of Manhize is therefore less about simply producing more steel and more about whether Zimbabwe can build the infrastructure, market access and policy environment required to make that additional capacity commercially competitive.

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Zimbabwe’s 2.9% Inflation Creates a New Window for Business Planning

HARARE — Zimbabwe’s annual ZiG inflation eased to 2.9% in August 2026, from 3.2% in July, reinforcing signs that the economy is moving into a more stable phase. The significance extends beyond the headline figure. For businesses, lower and more predictable inflation makes it easier to plan cash flows, price products, manage inventories and commit […]

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HARARE — Zimbabwe’s annual ZiG inflation eased to 2.9% in August 2026, from 3.2% in July, reinforcing signs that the economy is moving into a more stable phase. The significance extends beyond the headline figure. For businesses, lower and more predictable inflation makes it easier to plan cash flows, price products, manage inventories and commit capital.

For years, Zimbabwean companies have operated with unusually short planning horizons. Rapid price movements and exchange-rate instability made budgets difficult to maintain, supplier quotations unreliable and working-capital requirements unpredictable. Businesses often held excess stock or cash simply to protect themselves from the next price shock.

That environment is gradually changing. With inflation now below 3%, companies can make more credible assumptions about future costs and revenues. Cash-flow forecasting becomes more meaningful, allowing finance teams to estimate when funds will be required, negotiate supplier terms more confidently and reduce the amount of cash tied up defensively.

The improvement also matters for corporate earnings. In a high-inflation economy, nominal revenue growth can disguise weak underlying performance. When inflation is contained, investors can more easily distinguish between genuine volume growth, price increases and improvements in productivity. This gives greater meaning to margins, operating cash flow, return on capital and dividend capacity.

For investors, greater price stability can therefore improve earnings visibility. A company growing revenue by 10% in a 3% inflation environment is producing a very different economic result from one reporting the same nominal growth during a period of extreme inflation. The former provides a stronger basis for assessing sustainable corporate value.

The biggest opportunity, however, may lie in capital expenditure. Major investments in factories, mines, warehouses, energy infrastructure and technology require companies to commit capital today for returns several years into the future. When inflation and the exchange rate are highly volatile, those calculations can quickly become obsolete.

A more stable environment makes conventional investment analysis more useful. Companies can assess projects through net present value, internal rates of return, payback periods and return on invested capital with greater confidence. The risks have not disappeared, but one major source of uncertainty has become less disruptive.

Banks also stand to benefit. More predictable inflation improves the ability to price longer-term loans and assess borrowers’ future cash flows. This could support greater financing for working capital, equipment, mortgages and productive investment, provided broader financial and currency conditions remain stable.

Yet low inflation should not be mistaken for economic prosperity. Prices are still rising; they are simply rising more slowly. Zimbabwe also remains exposed to electricity shortages, climate shocks, commodity-price movements, exchange-rate risks and its unresolved debt position.

The real test is therefore whether the current stability proves durable. Businesses need several years of predictable monetary conditions, rather than a few favourable months, before they can fully change their investment behaviour.

That is why the August inflation figure matters. A 2.9% inflation rate does not by itself transform Zimbabwe’s economy, but it creates the conditions in which businesses can begin planning beyond the next quarter.

The opportunity now is to turn macroeconomic stability into productive investment. Companies can move from protecting cash against inflation to deploying it into expansion; investors can place greater weight on genuine earnings and cash generation; and banks can potentially extend longer-term credit.

Zimbabwe’s challenge is no longer simply to suppress inflation. It is to use the relative stability now emerging to rebuild productive capacity, deepen investment and generate sustained real economic growth.

For corporate Zimbabwe, the value of stability is ultimately measured not by the inflation rate itself, but by what businesses are able to do because they can finally plan with greater confidence.

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