Search / John_mangudya
Mnangagwa cuts short Mangudya's term at RBZ
President Emmerson Mnangagwa on Thursday brought forward by a month the appointment of John Mushayavanhu as the new Reserve Bank of Zimbabwe governor, hoping to stem the collapse of the local currency...Published: 4 hrs ago | 681 | by Staff reporter
New RBZ Governor to hit the ground running
Incoming Reserve Bank of Zimbabwe governor John Mushayavanhu is set to hit the ground running after his official appointment from today - 28 March 2024 - for a five year tenure to 27 March 2029 with i...Published: 4 hrs ago | 347 | by Staff reporter
Mnangagwa's Mutapa fund plots parastatals shake-up
The MUTAPA Investment Fund (MIF), previously criticized as a conduit for elite enrichment, has declared its commitment to establishing robust governance frameworks aimed at reining in reluctant State ...Published: 11 Mar 2024 at 04:57hrs | 1034 | by Staff reporter
Gold set to anchor Zimbabwe dollar
GOLD has emerged as the most ideal instrument likely to be used to anchor the structured currency the Government is pursuing to stabilise the exchange rate and curtail persistent inflation.The...Published: 10 Mar 2024 at 06:23hrs | 155 | by Staff reporter
RBZ boss designate hits ground running
JOHN Mushayavanhu, the incoming governor of the Reserve Bank of Zimbabwe (RBZ), has already started contributing to the 2024 monetary policy statement (MPS), getting things going right away, Sta...Published: 18 Feb 2024 at 09:19hrs | 1204 | by Staff reporter
IMF trashes Zimbabwe inflation statistics
Government last year directed the Zimbabwe National Statistics Agency (Zimstat) to stop publishing local currency indexed inflation and switch to the blended rate, which it said was ideal as the count...Published: 16 Feb 2024 at 15:22hrs | 575 | by Staff reporter
Zupco terminates contracts for urban buses
THE Zimbabwe United Passenger Company (Zupco) has initiated a process of terminating its contracts with private owners of buses plying urban routes.The move comes as the remaining buses on con...Published: 16 Feb 2024 at 04:57hrs | 616 | by Staff reporter
Zimbabwe central bank accumulates almost a ton of gold reserves
Zimbabwe's central bank accumulated 793 kilograms (25,000 ounces) of gold reserves since introducing a law that compels mining companies to pay part of their royalties using the metal.The rese...Published: 14 Feb 2024 at 04:46hrs | 1206 | by Staff reporter
Another plan to rescue Zimdollar
ZIMBABWE is considering overhauling its exchangerate regime as the government seeks new measures to save its beleaguered currency.The latest proposals will be in a monetary policy statement th...Published: 11 Feb 2024 at 21:07hrs | 1049 | by Staff reporter
Major Zimpapers shake-up looms
THE state-controlled Zimbabwe Newspapers (1980) Ltd (Zimpapers) will soon appoint new editors after announcing a new board chaired by former Chief Secretary to the President and Cabinet Misheck Siband...Published: 30 Jan 2024 at 19:21hrs | 579 | by Staff reporter
Mnangagwa relative by marriage appointed to Zimpapers Board
The state-controlled Zimbabwe Newspapers (1980) Ltd (Zimpapers) has announced a new board chaired by former Chief Secretary to the President and Cabinet Misheck Sibanda's wife Doreen Joyce Sibanda....Published: 26 Jan 2024 at 13:38hrs | 1753 | by Staff reporter
Zimdollar flounders
Zimbabwe's central bank will hold its first rate-setting meeting of the year next Monday as it seeks to deal with a currency rout.The monetary policy committee will meet "to discuss interventi...Published: 25 Jan 2024 at 06:37hrs | 1117 | by Staff reporter
Mangudya says Zimdollar turmoil temporary
As Zimbabwe's parallel market reels under the strain of a currency crisis, central bank governor, John Mangudya, assures the public that this turmoil is merely passing.This grey market, operat...Published: 18 Jan 2024 at 17:55hrs | 1237 | by Staff reporter
SA court hears how diesel consignment from British oil company to Zimbabwe 'disappeared'
British oil company BP claimed to have exported a consignment of diesel to Zimbabwe in 2019 - but the fuel never arrived.A case brought by the South African Revenue Service (Sars) in a South A...Published: 17 Jan 2024 at 05:09hrs | 1712 | by Staff reporter
Mnangagwa ruined Zanu-PF business empire
THE predictable appointment of FBC Holdings chief executive John Mushayavanhu as the incoming Reserve Bank of Zimbabwe (RBZ) governor has completed President Emmerson Mnangagwa's critical post-electio...Published: 12 Dec 2023 at 18:00hrs | 3754 | by Staff reporter
Mnangagwa tightens his grip on levers of Zimbabwe's Treasury
WITH his close business ally John Muyashavanhu now confirmed as the incoming Reserve Bank of Zimbabwe (RBZ) governor, George Guvamatanga as Finance permanent secretary — chief accounting officer of ...Published: 12 Dec 2023 at 17:58hrs | 502 | by Staff reporter
Mnangagwa names business associate as new RBZ governor
FBC Holdings CEO John Mushayavanhu, a business associate of President Emmerson Mnangagwa, will become governor of the central bank from May 1, 2024, the presidency announced on Friday.Current ...Published: 08 Dec 2023 at 20:52hrs | 1694 | by Staff reporter
A sad Christmas present from clueless Mthuli Ncube
The just presented 2024 budget by Prof Mthuli Ncube has left Zimbabweans in shock. This is the worst budget ever produced by minister of Finance since independence and the colonial era.It has ...Published: 02 Dec 2023 at 10:39hrs | 547 | by Leonard Koni
Dzino thinks Mnangagwa was a minor and peripheral player in the liberation struggle
Book Excerpt from: In Search of the Elusive Zimbabwean Dream, Volume III (Ideas & Solutions)By Professor Arthur G.O. MutambaraI later lose my autographed copy of Wilfred Mhanda's b...Published: 17 Nov 2023 at 05:36hrs | 4226 | by Professor Arthur G.O. Mutambara
'ZWL$80bn gold coins, ZiG tokens sold'
Reserve Bank of Zimbabwe (RBZ) Governor John Mangudya has reported the sale of gold coins and gold-backed digital tokens (ZiG tokens) valued at over ZWL$80 billion to date. Gold coins were introduced ...Published: 02 Nov 2023 at 05:52hrs | 176 | by Staff reporter
Zimbabwe foreign currency deposits shoot to US$1, 6 billion
Foreign currency deposits have surged to an impressive US$1.6 billion, largely attributed to growing confidence in the stability of the banking sector, as revealed by the Reserve Bank of Zimbabwe (RBZ...Published: 26 Oct 2023 at 06:23hrs | 108 | by Staff reporter
Will the new ‘ZiG' ‘gold backed' digital currency alleviate Zimbabwe's currency stability woes?
THE chronic problem of Zimbabwe's economy has its roots in the land reform activities that began more than 30 years ago.The principle of ‘ethnic balance' in land ownership was fair. The prob...Published: 08 Oct 2023 at 08:02hrs | 460 | by John Mc Keown
Zimbabwe gold-backed tokens enter market
Zimbabwe Gold (ZiG), the digital tokens backed by gold, has gained approval as a legitimate means of payment for domestic transactions, effective immediately. Transactions involving ZiG will be proces...Published: 06 Oct 2023 at 06:32hrs | 457 | by Staff reporter
Zimbabweans rejects Mbuya Nehanda note as inflation soars
Vendors and some retailers in Harare are now refusing to accept the ZW$50 banknote introduced in 2021 by Reserve Bank of Zimbabwe (RBZ) Governor John Mangudya. This refusal is unsurprising as the note...Published: 05 Oct 2023 at 19:50hrs | 998 | by Staff reporter
Telling my Access Finance story
FOLLOWING a recent public announcement by Access Finance Group, a local remittance and financial services company, that its chief executive Singathini Raymond Chigogwana is retiring and would be repla...Published: 05 Oct 2023 at 15:07hrs | 405 | by Senziwani Sikhosana
RBZ increases US$ reserves thresholds to 15% to encourage Zimdollar usage
The Reserve Bank of Zimbabwe's Monetary Policy Committee (MPC) has increased the US$ Statutory reserve requirement to 15%, a move that experts suggest aims to encourage the use of the ZWL (Zimbabwean ...Published: 29 Sep 2023 at 06:34hrs | 735 | by Staff reporter
Mnangagwa to replace Mangudya as RBZ boss?
A GLOBAL recent ranking of central bank governors has given Zimbabwe's John Mangudya the lowest grade amid speculation that he may be replaced as President Emmerson Mnangagwa reshapes his administrati...Published: 28 Sep 2023 at 16:03hrs | 3122 | by Staff reporter
Zimdollar remains volatile
LOCAL financial service firm Fincent Securities Private Limited (Fincent) says the Zimbabwe dollar has lost significant value since the announcement of the disputed election results.From the e...Published: 10 Sep 2023 at 09:00hrs | 546 | by Staff reporter
Reserve Bank of Zimbabwe bails out 3 banks
THE Reserve Bank of Zimbabwe (RBZ) has used its lender of last resort (LoLR) facility to bail out three distressed banks which had run out of liquidity following the steep depreciation of the local cu...Published: 16 Aug 2023 at 06:49hrs | 36 | by Staff reporter
Zimbabwe set to introduce Gold Backed Digital Tokens for daily transactions
THE Reserve Bank of Zimbabwe (RBZ) says plans have now reached an advanced stage to introduce the Gold Backed Digital Tokens (GBDT) as a medium of exchange to be by the public in daily transactions....Published: 11 Aug 2023 at 06:38hrs | 18 | by Staff reporter
Gold tokens to become medium of exchange in Zimbabwe
THE Reserve Bank of Zimbabwe (RBZ) is finalising the modalities of rolling out the gold-backed digital tokens as a medium of exchange for domestic transactions to complement the US dollars, Governor D...Published: 10 Aug 2023 at 06:43hrs | 19 | by Staff reporter
Mnangagwa to abandon RBZ's forex auction system?
President Emmerson Mnangagwa has hinted the Dutch forex auction floor system, which is under the control of the Reserve Bank of Zimbabwe, could be scrapped since it has served its purpose.The ...Published: 29 Jul 2023 at 12:46hrs | 19 | by Staff reporter
RBZ sweet-talks millers
The Reserve Bank of Zimbabwe Governor John Mangudya has sweet-talked millers to reduce prices of maize meal, flour and salt ahead of elections.After successfully meeting with a high-level dele...Published: 24 Jul 2023 at 20:32hrs | 19 | by Simbarashe Sithole
Zimbabwe central bank owes over $4bn for food, fuel supply
Zimbabwe's central bank has racked up debts of more than $4 billion to banks and companies, including commodities giant Trafigura Group and national flag carrier South African Airways.The Rese...Published: 22 Jul 2023 at 08:07hrs | 10 | by Staff reporter
'US$400m facility won't stabilise Zimbabwe economy'
OLD Mutual Investment Group (OMIG) says the US$400 million funding secured by the government from the African Export-Import Bank (Afreximbank) is insufficient to restore stability to the local currenc...Published: 19 Jul 2023 at 06:43hrs | | by Staff reporter
Iran, please tell Mnangagwa that sanctions are a fallacy
SO, Iranian President Ebrahim Raisi was in Zimbabwe for a visit.That was good news; well, for me at least, because I believe this was an opportunity for him to finally get it into the heads of...Published: 17 Jul 2023 at 06:57hrs | 20 | by Tendai Ruben Mbofana
Exodus continues as Zimbabwean economy lies in ruins ahead of elections
Soaring inflation and collapsing ‘bond notes' are forcing more and more qualified people and professionals to flee the country.Zimbabwe's poor economic performance and depreciation of the su...Published: 03 Jul 2023 at 07:02hrs | 18 | by Staff reporter
Zimbabwean business fears its government will interfere with the exchange rate
ZIMBABWEAN businesses fear that President Emerson Mnangagwa's administration, which is blaming foreign companies of inflating prices ahead of a key election in August, could resort to interfering with...Published: 26 Jun 2023 at 06:52hrs | 42 | by Staff reporter
Zimbabwe business jittery as electioneering goes a gear up
The business community fears that the government could resort to exchange rate control to manage inflation and price increases. Picture: Shepherd TozvirevaZimbabwean businesses fear that Presi...Published: 25 Jun 2023 at 09:37hrs | 3 | by Staff reporter
RBZ backs Pan-African payment, settlement system
Reserve Bank of Zimbabwe (RBZ) Governor Dr John Mangudya has thrown weight behind the Pan-African Payment and Settlement System, a cross-border, financial market infrastructure enabling payment system...Published: 21 Jun 2023 at 06:17hrs | 4 | by Staff reporter
RBZ finalises platform for digital token payments
THE Reserve Bank of Zimbabwe (RBZ) is finalising the establishment of a platform that facilitates person-to-person transactions using digital gold tokens, a development expected to largely reduce dema...Published: 18 Jun 2023 at 08:30hrs | 11 | by Staff reporter
Zimbabweans fear repeat of 2008 inflation as Zimdollar nosedives
Zimbabwean businesses and households are fearing a repeat of the hyperinflation seen more than a decade ago as prices of basic commodities spike after a sharp weakening in the local currency, despite ...Published: 14 Jun 2023 at 18:08hrs | 1 | by Staff reporter
Mnangagwa blames opposition for Zimdollar collapse
PRESIDENT Emmerson Mnangagwa has blamed the opposition for allegedly roping in Western allies to destroy the local currency under a well-orchestrated scheme aimed at causing civil unrest.This ...Published: 11 Jun 2023 at 21:38hrs | 6 | by Staff reporter
RBZ in bid to calm run on banks over currency fears
The Reserve Bank of Zimbabwe on Friday sought to calm a run on banks, insisting that depositors' funds were safe.Thousands of panicky Zimbabweans lined up in bank queues to withdraw their Unit...Published: 10 Jun 2023 at 17:53hrs | 6 | by Staff reporter
Mnangagwa reads riot act on prices
PRESIDENT Mnangagwa yesterday read the riot act on businesses that are working behind the scenes with vested foreign countries to hike prices to make the people suffer and turn against the Zanu-PF-led...Published: 10 Jun 2023 at 17:45hrs | 1 | by Staff reporter
'Shut down RBZ's irrelevant forex auction system'
ECONOMIC analysts this week said the central bank must close the foreign exchange auction system, saying it was no longer serving its purpose.The Reserve Bank of Zimbabwe (RBZ) last month limi...Published: 09 Jun 2023 at 06:33hrs | 6 | by Staff reporter
Banks scale back Zimbabwe dollar lending
BANKS have significantly reduced lending in the local currency ever since monetary authorities hiked interest rates last year to prevent rent-seeking behaviour by individuals and corporates, Reserve B...Published: 04 Jun 2023 at 08:29hrs | 1 | by Staff reporter
Mangudya rules out dollarisation
RESERVE Bank of Zimbabwe (RBZ) governor John Mangudya yesterday claimed that past experiences, rather than basic economic issues, were to blame for the country's exchange rate volatility, as he ruled ...Published: 02 Jun 2023 at 06:46hrs | 1 | by Staff reporter
Mnangagwa threatens to legislate against foreign currency use
PRESIDENT Emmerson Mnangagwa has, in a yet-to-be-aired interview, declared Zimbabwe will continue using its waning currency despite it fast-losing value.In snippets of the interview shared by ...Published: 02 Jun 2023 at 06:43hrs | 1 | by Staff reporter
'Zimbabwe has no capacity for full dollarisation'
RESERVE Bank of Zimbabwe (RBZ) Governor, Dr John Mangudya, has urged Zimbabweans to embrace the local currency saying the country has no capacity to sustain a fully dollarised economy.While th...Published: 02 Jun 2023 at 06:42hrs | 3 | by Staff reporter
Load More Stories