Mthuli Ncube, Zimbabwe's Finance Minister, is set to present his first national budget amidst a severe economic crisis characterized by currency devaluation and hyperinflation. The budget is expected to outline austerity measures and reforms aimed at fiscal consolidation, boosting production and exports, and governance reforms as part of the Transitional Stabilisation Program (TSP). Ncube's challenge is to restore market confidence and address the currency crisis, with options such as full dollarization or joining the Rand Monetary Union being considered. He also plans to tackle the country's significant debt to international lenders like the World Bank and the African Development Bank. Additionally, the budget will likely detail plans for the partial privatisation of State-owned enterprises. Ncube, a former Oxford professor with a notable background in economics and finance, faces the task of implementing reforms within a government system burdened by bureaucracy and corruption.

AMH, an independent media house in Zimbabwe, operates without political affiliations or external influences. It publishes four newspapers, each with an online edition. These include The Zimbabwe Independent, a business weekly available every Friday; The Standard, a weekly available every Sunday; and two dailies, Southern and NewsDay. The article emphasizes the independence of AMH in its operations and its commitment to providing news without external pressures.

The article discusses a directive from the Reserve Bank of Zimbabwe concerning the mining sector, which is the largest contributor to the country's foreign currency earnings, accounting for 62 percent of total exports in 2016. The directive mandates that 80 percent of all foreign exchange receipts from Platinum Group Metals (PGM) and Chrome are to be transferred to the Reserve Bank's Nostro Account immediately upon receipt. This measure aims to ensure the effective administration of foreign exchange and to improve liquidity in the foreign exchange market. Miners will be compensated in local currency through real time gross settlement (RTGS) credited to their accounts.

The International Monetary Fund (IMF) has revised its economic forecast for Zimbabwe, predicting a recession with the economy expected to contract by 5.2% this year, a significant downturn from the previously projected 4.2% growth. The revision is attributed to a combination of factors including an El Nino-induced drought, the impact of Cyclone Idai, and a severe foreign currency shortage. These issues have led to company closures and a need for food aid for millions. Despite the IMF's grim outlook, some local economists and officials, including former legislator Eddie Cross and Finance Minister Mthuli Ncube, remain optimistic, expecting subdued but positive growth due to a shift towards export-led growth and recent monetary policy changes. The government has launched a 15-month reform plan aiming for a growth rebound, which is more optimistic than the IMF's projections.

The article discusses the surge in participation of young Zimbabweans in the stock market, facilitated by the digitization of the Zimbabwe Stock Exchange (ZSE) and the use of social media platforms for trading. Albert Nangara, a chemical engineering student, exemplifies the new wave of young investors who are actively engaging in stock trading to generate income. The ZSE's transition to an online platform in 2015 democratized access to stock trading, which was previously dominated by white capital and professional investors. The article also touches on the government's recent measures to curb overpricing of stocks, such as increasing Capital Gains Tax, which led to a temporary decline in investor activity. The role of social media and digital platforms like C-trade and ZSE Direct in increasing retail participation is highlighted, along with the need for financial literacy to further democratize capital market involvement.

The article reports on an audit revealing financial mismanagement and abuse of funds by the Zimbabwe Tourism Authority (ZTA) during the tenure of former president Robert Mugabe. Auditor-General Mildred Shiri's report details how the ZTA misappropriated funds between 2015 and 2016, including donations to weddings, political rallies, and an unnamed High Court judge. The ZTA, led by former CEO Karikoga Kaseke, spent money on various non-budgeted items such as ministry-related expenses, office furniture, and holiday expenses for the deputy minister. The report also highlights lavish lifestyles and unauthorized perks for ZTA board members, despite the authority's poor financial state, which resulted in a significant deficit and liabilities exceeding assets. Kaseke, who had no valid employment contract, was noted for his confrontational management style and misuse of the tourism sector for personal gain.

The article discusses the Auditor General of Zimbabwe, Mildred Chiri, and her report for the 2019 financial year, which highlights the poor state of the country's public accounts. Despite the recurring issues of malfeasance, poor record-keeping, and non-compliance with procedures, the article notes that the public is no longer surprised by these revelations. The article mentions that out of 356 recommendations made by Chiri's office in 2018, only a fraction were implemented. Transparency International Zimbabwe suggests that Parliament should enforce the AG's recommendations to promote transparency and accountability. The article also compares the situation with South Africa, where the Public Audit Act was amended to give the AG more power to enforce accountability. Despite challenges, including the Covid-19 pandemic, Chiri's diligence is praised as a beacon of hope in a public service rife with mediocrity.

Lesley Marange, a former food scientist, founded Glytime Foods in Zimbabwe after leaving his job in 2017. With over 40 employees, the company produces a variety of healthy food products and has established a significant market presence. Glytime Foods operates as a social enterprise, partnering with around 3,000 local farmers to ensure a sustainable local value chain and market access. Despite challenges such as government bureaucracy, the company is expanding its reach, exporting to neighboring countries and aiming for certification to enter the COMESA market. Lesley and his wife Talent Marange have invested personal funds and effort into the business, which they run from their home, demonstrating a commitment to both economic and social goals.

China's R&F is set to invest between $1 billion and $2 billion in the Zimbabwe Iron and Steel Company (ZISCO), which stopped production in 2008 due to economic challenges and mismanagement. Zimbabwe's Industry and Commerce Minister Mike Bimha announced that R&F has been conducting due diligence over the past six months. The investment aims to restart operations and reach a production target of one million tonnes of steel per year within the next 18 months. A previous investment deal with Essar Africa Holdings fell through in 2015.

The article discusses the tenure of John Mangudya, the governor of the Reserve Bank of Zimbabwe (RBZ), as it comes to an end. It highlights the challenges he faced, such as inheriting a central bank with over a billion dollars in debt from his predecessor, Gideon Gono, and the lack of a local currency due to hyperinflation. Mangudya's efforts included transferring the RBZ's debt to the state and establishing the Zimbabwe Asset Management Company (Zamco) to manage bad loans. His relationship with Afreximbank, which provided multiple credit lines to Zimbabwe, is scrutinized for lack of transparency. The article also touches on the introduction of bond coins and notes, and the government's excessive debt levels revealed by Finance Minister Mthuli Ncube. Mangudya's tenure is described as tumultuous with communication issues, but not as disastrous as his predecessor's.