July 13, 2021According to the Finance and Economic Development Minister Mthuli Ncube, Government is working on modalities that will allow pension funds to invest their monies offshore.
March 3, 2021Government approved the Musha-Muzi Housing Programme, a project that is set to see low-income earners in the country acquire homes at affordable prices. The programme, a brainchild of the Zimbabwe Investment and Development Agency (ZIDA)
March 5, 2021Government procures 50 new buses for Zupco; brings total fleet to date to 212 buses.
Feb. 25, 2021
The Amendment Bill mainly seeks to ensure the maintenance of a fair, safe and stable insurance and pensions sector for the benefit and protection of policy holders and pension fund members. The Bill gives the Insurance Commission the powers to accredit actuaries, auditors, asset managers, credit rating agencies and other service providers.
Feb. 25, 2021
Government approved amendments to the Insurance Bill 2020, which seeks to repeal the Insurance Act and introduce best practices in Zimbabwe’s insurance sector.
March 16, 2021
Government has reviewed the cash transfer given to vulnerable persons from $300 to $1 500 per household per month as the State seeks to provide social protection nets to the disadvantaged members of society.
Dec. 30, 2020
Humanitarian assistance allowances for vulnerable persons hit by Covid-19 and the subsequent lockdown has been raised from $300 to $800 per month. The Government allowance is designed to cushion the most vulnerable by ensuring they can buy basic food. Legislators raised concern that the $300 was no longer serving any purpose and it was imperative that Government reviewed the money to cushion vulnerable persons.
Oct. 8, 2020
Vulnerable households will start receiving cash grants pegged at a higher level than the price of roller meal to enable them to source the basic commodity from any place of their choice. Government stopped the subsidy on roller meal after realisation that some top officials and those in positions of influence were abusing the facility and benefiting at the expense of targeted groups.
March 18, 2020
Cabinet considered and approved principles to amend the State Service Pensions Act (Chapter 16:06) as presented by the Minister of Public Service, Labour and Social Welfare. Key provisions of the principles include the following:
to provide for the establishment of a Pension Fund whose objective shall be to provide for the payment of pension, gratuities and other benefits;
to provide for the management of the fund by a Board of Trustees whose function shall include but not limited to the administration of the fund; and
to provide for contributions made by members towards the fund. The rates of contribution by both the employer and the members will be outlined. Furthermore, the pension benefits that will be payable to members in the employment of the State shall be fixed in the members’ conditions of employment.
May 27, 2020
Customs duty on imported wheat flour and maize meal has been suspended for six months from 22 May 2020 to 21 November 2020 in terms of regulations gazetted by Minister of Finance and Economic Development Prof Mthuli Ncube.
Statutory Instrument 219, giving the details of the three tariff items, suspended duty for bags of wheat flour of 50kg or more, smaller packs of wheat flour and maize meal. A second statutory instrument had already split the tariff item that covered both maize groats and maize meal so the meal duty could be suspended without simultaneously suspending the maize groats duty. The maize meal tariff was 25 percent.
March 31, 2020
Government has set aside over $600 million to cover one million vulnerable households under a cash transfer programme for the next three months, to mitigate the impact of Covid-19, which has seen Government ordering a 21-day total lockdown to contain its spread.
The Social Welfare Department will use its structures to identify the beneficiaries under the facility.
Feb. 12, 2020
Government has raised the price of subsidised roller meal to $70 for a 10kg packet to manage speculation by retailers that resulted in shortages. Finance and Economic Development Minister Professor Mthuli Ncube announced the new price in a statement.
He said the roller meal subsidy, which was introduced in December 2019 to protect vulnerable groups from rising costs of maize meal, was no longer serving the purpose due to corruption.
Jan. 31, 2020
THE Zimbabwe United Passenger Company (Zupco) has dispatched about 80 of its newly-acquired 122 buses to long-distance routes countrywide, bringing relief to travellers.
The buses charge subsidised fares as part of the Government’s efforts to provide safety nets for the poor.
Zupco buses, including hundreds of franchised kombis, have made a mark on most urban routes countrywide.
Jan. 24, 2020
The availability of subsidised maize-meal is expected to improve following the establishment of a taskforce to ensure transparent and equitable distribution of the product. The taskforce will make follow-ups with retailers to curb diversion of the maize-meal to the black market. This comes amid observations that even refined maize-meal was no longer readily available.
Dec. 4, 2019
Following presentation by the Minister of Finance and Economic Development, Cabinet approved the signing of the Insurance Policy Agreement between Africa Risk Capacity Limited (ARC Ltd) and the Government of Zimbabwe, as well as the Memorandum of Understanding between the Government of Zimbabwe, the World Food Programme and ARC Limited.
The African Risk Capacity Agency seeks to provide participating member States of the African Union with access to financial resources to help them to respond to extreme weather events.
Nov. 28, 2019
Subsidies on maize-meal and rice are being restored to ensure citizens have access to cheaper basic foodstuffs and cushion them against the obtaining economic challenges, President Mnangagwa has said.
Addressing youths at the 2019 National Youth Convention, the President said maize-meal and rice were basic commodities and removing the subsidy would affect many people.
Aug. 25, 2019
Government will next week resume electronic cash transfers amounting to $40 million to more than 60 000 vulnerable households to cushion them against the current economic challenges and rising cost of living. The exercise, which is administered through the harmonised social cash transfer programme (HSCT), was discontinued a few years ago owing to cash shortages.
Aug. 25, 2019
Government has bought 20,000 tonnes of maize from Tanzania and is in active discussions with other countries in the region, particularly Zambia, as it moves to procure more than 1 million tonnes, it has been learnt. Government says it has enough stocks to supply the local market in the interim as it currently holds 500,000 tonnes in the strategic grain reserve, which are over and above the 560,000 tonnes that have been delivered by farmers to the Grain Marketing Board (GMB) during the recent marketing season.
Aug. 26, 2019
Government is working on providing food aid in urban areas to ensure the estimated 2,2 million food insecure people living in towns do not go hungry, with a pilot project on indentifying the vulnerable already taking place in Epworth.
July 30, 2019
Zimbabwe’s government said it distributed almost 190,000 metric tons of maize to households in rural and urban areas, marking the first time ever it has had to distribute food to people in cities.
July 18, 2019
Government remains the major provider of support to vulnerable communities in need of food assistance countrywide, the 2019 Zimbabwe Vulnerable Assessment Committee (ZimVac) report has revealed. Of vulnerable households that received food assistance in 2018-19, 56 percent received support from the Government, 13 percent from non-governmental organisations (NGOs) and the United Nations (UN), three percent from churches, 16 percent was from relatives within rural areas, 18 percent was from relatives within urban areas and 11 percent was from remittances from outside the country.
July 19, 2019
Government extended a mid-year bonus to National Social Security Authority (NSSA) pensioners to cushion them from the rise in the cost of living. The Minister of Public Service, Labour and Social Welfare, Honourable Dr Sekai Nzenza, has made a decision to award a once off discretionary bonus equivalent to a month’s pension to cushion NSSA pensioners from the general increase in the cost of living.
May 21, 2019
The Zimbabwe government slashed Zimbabwe United Passenger Company (ZUPCO) bus fares by 50 percent, for both urban and rural trips, a situation that will see urban travellers paying 50 cents from $1 for distances within a 20km radius.
A distance of up to 30km has now been pegged at 75 cents, from $1,50 while the fare for a distance of up to 40km has been reduced to $1 from $2.
June 19, 2019
More than 74 percent of the money raised so far through the Intermediated Money Transfer Tax (IMTT), or the 2 percent tax, has been channelled towards infrastructure projects, health, education and social safety nets in line with Government’s commitment to ringfence the resources for social services. The IMTT was introduced in October 2018. Latest official statistics from the Ministry of Finance and Economic Development indicate that of the $541 million that has been raised since October last year, $270 million has been used to fund health care and the Basic Education Assistance Module (Beam) – a facility specifically designed to provide quality education to orphans and vulnerable children.