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50 cent bond coins to be introduced next week

The Reserve Bank of Zimbabwe (RBZ) is set to avail a 50 cent bond coins next week to complement the already smaller units.Late last year, the RBZ injected minted coins imported from South Afri...Read more

50 cent bond coins to be introduced next week

24 March 2015 | 2476 Views
The Reserve Bank of Zimbabwe (RBZ) is set to avail a 50 cent bond coins next week to complement the already smaller units.Late last year, the RBZ injected minted coins imported from South Afri...

by Thobekile Zhou

Big wigs suck Zimbabwe banks dry

22 March 2015 | 3024 Views
The majority of banks that folded over the past five months choked on souring loans extended to top executives and serial debtors, The Sunday Mail reported.AfrAsia is the latest victim of toxi...

by Staff Reporter

'Zimbabweans prefer foreign investment instead of indigenisation'

19 March 2015 | 1091 Views
Zimbabweans prefer foreign direct investment (FDI) to indigenisation for employment creation, a new survey by the Mass Public Opinion Institute (MPOI) has revealed. According to the survey, an...

by Staff reporter

Zimbabwe among most unattractive mining destinations

11 March 2015 | 4224 Views
Zimbabwe according to a latest Canadian think tank Fraser Institute ranks Zimbabwe among the most unattractive mining destinations with the country lagging behind the DRC, Mozambique and South Afr...

by Staff reporter

Zimbabwe crafts debt repayment plan

09 March 2015 | 2223 Views
Zimbabwe urgently needs to come up with a solid debt repayment strategy to settle ballooning debts to international creditors.Finance Minister Patrick Chinamasa  is quoited by Daily News ...

by Thobekile Zhou

50c bond coins expected by end of March

05 March 2015 | 1656 Views
Reserve Bank of Zimbabwe (RBZ) Governor Dr John Mangudya has revealed that the country will receive $5 million worth of 50c coins by end of this month to complete the cycle of other denominations alre...

by Staff reporter

'No financial assistance until Zimbabwe clears arrears,' says IMF

04 March 2015 | 2559 Views
Zimbabwe cannot get a debt rescheduling which will enable it to start receiving financial assistance from international financial institutions until it has cleared arrears owed to the International Mo...

by Rumbidzayi Zinyuke

1 471 defaulters apply for Zimra tax amnesty

27 February 2015 | 2338 Views
1 471 defaulters have submitted tax amnesty applications to the Zimbabwe Revenue Authority (Zimra) to date, Zimra commissioner general Gershem Pasi has said.The tax amnesty commenced in Octobe...

by Funny Hudzerema

ZSE's integrity under spotlight

17 February 2015 | 1373 Views
The Zimbabwe Stock Exchange yesterday temporarily suspended trading of Meikles Africa shares over the way they accounted for the Reserve Bank of Zimbabwe debt, but failed to give the company formal co...

by Staff reporter

Zimbabwe relaxes foreign remittances controls

16 February 2015 | 4825 Views
The Reserve Bank of Zimbabwe (RBZ) is set to introduce relaxed controls on international remittances by April this year, as part of its measures to boost inflows and ease liquidity constraints....

by Staff reporter

Emirates Connects the World to the ICC Cricket World Cup 2015

16 February 2015 | 1546 Views
HARARE - Emirates Airline has launched a celebration of cricket with fans the world over, as the national teams from 14 countries commence their journey to compete for the glory and the title of worl...

by Staff Reporter

UK's private sector seeks investment in Zimbabwe

11 February 2015 | 2452 Views
A private investor delegation privately sponsored by Invest Africa arrives in Harare to seek investment opportunities.A United Kingdom (UK) Private Sector led International Investor Delegation...

by PRN Africa

RBZ Boss urges price cuts instead off wage increases

11 February 2015 | 2615 Views
Zimbabwe's central bank on Wednesday urged companies to reduce the prices of their products and services, saying salary hikes being called for by workers would "choke the economy"."I am convin...

by AFP

'Zimbabwe not experiencing deflation'

11 February 2015 | 2270 Views
Zimbabwe is not experiencing deflation but disinflation, with the sustained reduction in inflation due to price correction in the market, the Reserve Bank of Zimbabwe (RBZ) said Wednesday. RBZ...

by Cihan/Xinhua

RBZ to pay $5 for Zimdollar accounts

11 February 2015 | 5097 Views
The Reserve Bank of Zimbabwe will pay out $5 for every Zimbabwe Dollar account as compensation for account holders that lost their money in 2008 with the introduction of the multi-currency regime....

by Rumbidzayi Zinyuke

'Interbank market now operational,' says RBZ

11 February 2015 | 1485 Views
Local banks' ability to extend liquidity reprieve to each other has been enhanced following the full operationalisation of the interbank market.Besides ensuring stability of the financial sect...

by Tawanda Musarurwa

Reserve Bank of Zimbabwe unveils its monetary policy

11 February 2015 | 4448 Views
The Reserve Bank of Zimbabwe has unveiled a monetary policy 2015.Below is the full presentation. ...

by RBZ

Monetary policy review this week

10 February 2015 | 1592 Views
Reserve Bank of Zimbabwe governor John Mangudya will this week present the Monetary Policy Statement at a time his hands are tied with little room to manoeuvre as the economy continues to take a nosed...

by Staff reporter

Zimdollars accounts to be compensated

08 February 2015 | 6340 Views
THE Reserve Bank of Zimbabwe is coming up with a formula to calculate how Government can compensate individuals with Zimbabwe dollars locked in accounts after the country adopted the use of multi-curr...

by Gabriel Masvora and Ngonidzashe Chiutsi

RBZ to unveil 2015 monetary policy next week

08 February 2015 | 1474 Views
Reserve Bank of Zimbabwe governor John Mangudya will next week present his long-awaited monetary policy statement for 2015 that is expected to outline measures to improve financial sector stability an...

by APA

Bond coins, fuel price cuts result in basic commodity prices fall

07 February 2015 | 2966 Views
The introduction of bond coins and fuel price cuts have resulted in basic commodity prices decreasing by one percent, though increasing competition among retailers and an anticipated price review mode...

by Staff Reporter

Zim's 'boot-sellers' grow as they shun shop rents - Video

07 February 2015 | 6556 Views
In Zimbabwe, the high cost of renting shop space in the central business district of the capital Harare is forcing retailers to take an unusual step.Many are reduced to selling their wares fr...

by Brian Hungwe

Zimbabwe economic woes set to worsen in 2015

06 February 2015 | 2810 Views
Things are likely to get worse before they get better for Zimbabweans as economic growth projections for 2015 point to a slowdown compared to 2014 which was a very tough year for the battered coun...

by Staff reporter

Zim govt supports banks immunity extension

03 February 2015 | 1776 Views
Government says it supports the extension of immunity from lawsuits to banks whose accounts were raided by the Reserve Bank of Zimbabwe (RBZ) to fund its quasi-fiscal activities during the hyperinflat...

by Staff Reporter

Zimbabwe to keep 15% export tax on unrefined platinum

03 February 2015 | 2808 Views
Zimbabwe will keep a 15% export tax on unrefined platinum for now because mines have failed to provide a roadmap on how they plan to set up a local refinery, Finance Minister Patrick Chinamasa sai...

by Reuters

'Time to 'round down' prices,' says RBZ boss

27 January 2015 | 4314 Views
The Reserve Bank of Zimbabwe (RBZ) has said local businesses must seriously consider revising their high cost business models and reduce their prices in line with economic fundamentals if they are...

by Staff reporter

Second-hand car imports gobbled $469 million in 2014 alone

27 January 2015 | 3122 Views
Zimbabweans spent $469 million importing vehicles from different countries last year, at a time capacity utilisation for local car assemblers fell to a lowly five percent, with growing calls for t...

by Staff reporter

Zimbabwe to hold second local diamond auction in February

22 January 2015 | 1696 Views
Zimbabwe is set to hold its second local diamond auction at the beginning of next month in a move to maximize diamond revenue, a Ministry Of mines official has said.Permanent secretary of Mine...

by Funny Hudzerema

'Zimbabwe needs more entrepreneurs,' says Chinamasa

22 January 2015 | 2807 Views
The Zimbabwean economy is in desperate need of entrepreneurs who take the lead in securing foreign investment that will help their companies recover from the effects of the liquidity challenges faced...

by Rumbidzayi Zinyuke

Zimbabwean economy turns many to gambling

22 January 2015 | 3111 Views
THERE is nothing in Zimbabwe that spells a crisis more than a long winding queue. The zigzagging length of humanity has from time immemorial and recorded history - from the American great depression ...

by Tendai Makaripe

Gap between lending and saving rates in Zimbabwe remains ridiculously high

20 January 2015 | 2444 Views
The gap between lending and deposit rates in Zimbabwe remains high despite showing a decline in the week ending 9 January 2015, official figures from the Reserve Bank of Zimbabwe (RBZ) show....

by Staff reporter

'Zimbabwe ready to engage international investors'

18 January 2015 | 4432 Views
GOVERNMENT is willing and ready to engage investors and international partners to drive the economic development agenda of the country, a Ministry of Finance and Economic Development official has said...

by Staff reporter

Zimbabwe misses gold target

16 January 2015 | 1727 Views
Zimbabwe has marginally missed gold output for 2014 after deliveries reached 13,9 tonnes in the year to December against a target of 14,5 tonnes, latest data shows. Statistics from the Fidelit...

by Staff reporter

Zimbabwe inflation falls to -0.80%

15 January 2015 | 3082 Views
Zimbabwe's consumer prices fell to 80 basis points or 0.8% in December on a year-on-year basis compared to a 78 basis points or 0.78% decline in November, the statistical agency Zimstats said on Thur...

by Reuters

Chinamasa increases duty on fuel

15 January 2015 | 4474 Views
Government has increased duty on fuel as means of raising revenue against the backdrop of a thinning tax base. Finance Minister Patrick Chinamasa yesterday gazetted the increase with...

by Staff reporter

Allan Gray positive on Zimbabwean equities

15 January 2015 | 1958 Views
A SLUMP in Zimbabwean equities to near two-year lows is emboldening one of the largest money managers in South Africa to keep looking beyond the nation's economic woes for returns.Allan Gray, ...

by Neo Khanyile I Bloomberg

Zimbabwe loses $2,6 billion in trade mis-invoicing

09 January 2015 | 2307 Views
Zimbabwe's current trade imbalance may be attributed to trade mis-invoicing, which has prejudiced the country of $2,6 billion through illicit financial outflows between 2003 and 2012, a new report sho...

by Tawanda Musarurwa

Zimbabwe in 'coins conundrum'

08 January 2015 | 7831 Views
Nobody wanted the Zimbabwe dollar, so the country dumped it for the US dollar in 2009 to stave off economic collapse and sky-rocketing hyperinflation.Now nobody wants the "bond coins" it put i...

by Reuters

Zimbabwe's minerals export earnings decline

07 January 2015 | 1459 Views
Zimbabwe's diamond export earnings for the month of November went down 58,4 percent in November to $6,6 million from $16 million in October, figures from Zimstats have shown.Unsorted diamonds ...

by Rumbidzayi Zinyuke

Zimbabwe's 2015 National Budget is nothing but hot air

05 January 2015 | 1379 Views
The 2015 National Budget presented late November is another clear indication that Zanu-PF government continues to run the country in a toxic and retrogressive manner. Sadly, for the people...

by Staff reporter

Teething problems for Bond coins

05 January 2015 | 3582 Views
Only US$2.5 million worth of bond coins out of the US$10 million set aside are presently circulating on the local market as banks under ordered them, an official has said. As a result, des...

by Staff reporter

Zim experiences increase in gold production

05 January 2015 | 1858 Views
ZIMBABWE has experienced increased gold production mainly driven by small-scale miners despite the fall in gold prices on the international market, a new Africa Development Bank (AfDB) report has said...

by Staff Reporter

Bond coins, signs Zim dollar might return

22 December 2014 | 6901 Views
POLICY and economic analyst Butler Tambo has said the introduction of bond coins by the Reserve Bank of Zimbabwe (RBZ) last Thursday was a sign that the Zimbabwe dollar might be brought back withi...

by Staff Reporter

Chinamasa clueless

20 December 2014 | 4248 Views
FINANCE Minister Patrick Chinamasa yesterday disclosed to Senate he had no idea how he was going to cut the wage bill gobbling 85% of the country's National Budget.His disclosure came as Senat...

by Staff Reporter

Zim licences Chinese company to print new currency, to be issued at a moment’s notice

19 December 2014 | 11823 Views
COLOGNE - President Robert Mugabe's administration, is reportedly sittings on wads of a new Zimbabwe currency to be backed by a gold standard, which can be issued at a moment's notice as a home grown...

by Itai Mushekwe

Retailers accept bond coins

19 December 2014 | 3842 Views
Retailers and other service providers have started accepting the just introduced bonded coins, demonstrating their confidence in the new coins regime which is set to ensure convenience to the tran...

by Staff reporter

World Bank pledges $44 million to help Zimbabwe

18 December 2014 | 2770 Views
The World Bank has pledged at least 44 million US dollars over the next five years to help Zimbabwe implement economic policy reforms.The new trust fund is a successor to the 2008 Analyti...

by Shingai Nyoka

Bond coins start circulating today

18 December 2014 | 2597 Views
Banks will today start circulating the Reserve Bank of Zimbabwe's imported bond coins, in a move expected to ease the problem of small change that has been bedevilling the economy since the advent...

by Staff reporter

Bond coins to face stiff resistance?

17 December 2014 | 3107 Views
Economists and informal traders have warned that new bond coins worth $10 million that are set to make their debut tomorrow might face stiff resistance from the public as there is lingering suspic...

by Staff reporter

Retailers to use RBZ Special Bond coins

16 December 2014 | 2492 Views
The Retailers Association of Zimbabwe says its members have accepted the special bond coins unveiled recently by the country's central bank designed to ease change problems faced by members of the pub...

by Gibbs Dube
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