Search / Auction system
Woes mount for Zimbabwe formal businesses\
Informal traders who largely evade taxes and levies are placing formal retail and wholesale businesses in Zimbabwe at a significant competitive disadvantage, burdened by a heavy and complex taxation r...Published: 23 Jun 2025 at 10:58hrs | 245 | by Staff reporter
Zimbabwe tobacco sales reach 88% of national target
A notable shift in Zimbabwe's tobacco marketing landscape is unfolding, with auction prices surpassing contract prices for 24 consecutive days, signaling potential cracks in the long-dominant contract...Published: 06 Jun 2025 at 09:42hrs | 129 | by Staff reporter
'Zimbabwe has huge export potential in floriculture'
Zimbabwe's national trade development and promotion agency, ZimTrade, has spotlighted floriculture as a profitable and viable agricultural venture, urging farmers to diversify into flower production t...Published: 07 May 2025 at 09:21hrs | 122 | by Staff reporter
Tobacco sales rake in US$279m
Zimbabwean tobacco farmers have earned US$279 million from the sale of 81.3 million kilogrammes of flue-cured tobacco so far this season, as the industry intensifies efforts to locally process at leas...Published: 22 Apr 2025 at 07:36hrs | 47 | by Staff reporter
Zimbabwe injects US$64m into foreign currency market
The Reserve Bank of Zimbabwe (RBZ) has injected US$64 million into the foreign exchange market in response to a growing demand for hard currency, ensuring that all bona fide foreign currency applicati...Published: 20 Sep 2024 at 07:49hrs | 241 | by Staff reporter
Chinese national faces deportation from Zimbabwe
Chinese businessman Haozuan Song is currently detained at Harare Remand Prison and faces possible deportation to China over an unspecified offense, while his mother, controversial businesswoman Li Son...Published: 16 Sep 2024 at 13:42hrs | 2904 | by Staff reporter
ZiG exchange premium skyrockets
Leading research firms have raised alarm this week over the ballooning exchange premium for the Zimbabwe Gold (ZiG) currency, with parallels being drawn to the collapse of the Zimbabwe dollar. The rap...Published: 13 Sep 2024 at 16:03hrs | 7516 | by Staff reporter
US$ shortages on official market crippling ZiG acceptability
The Confederation of Zimbabwe Industries (CZI) warns that the ongoing US$ shortages on the official market could further undermine the ZiG currency, amid increasing calls for comprehensive reforms to ...Published: 12 Sep 2024 at 08:07hrs | 1879 | by Staff reporter
RBZ makes U-turn
The Reserve Bank of Zimbabwe (RBZ) has announced that holders of non-negotiable certificates of deposit (NNCDs) will now receive tradable government bonds. This decision comes in response to pressure ...Published: 03 Sep 2024 at 15:45hrs | 27552 | by Staff reporter
Zimbabweans told to approach banks for ZiG, USD
The Reserve Bank of Zimbabwe has enough reserves to satisfy the foreign currency requirements of all legitimate businesses and no company needs to go to the black market to pay for imports, RBZ Govern...Published: 12 Apr 2024 at 09:47hrs | 1 | by Staff reporter
How Mushayavanhu just removed zeroes from dying currency
Reserve Bank of Zimbabwe governor John Mushayavanhu has issued his maiden monetary policy statement, bringing with him a new gold-backed currency and promises to end the money-printing that tanked the...Published: 07 Apr 2024 at 10:19hrs | 3 | by Staff reporter
Strategic Analysis of Zimbabwe's Monetary Policy and Its Implications on the Real Estate Sector
Introduction The Reserve Bank of Zimbabwe unveiled a new monetary policy aimed at stabilizing the country's currency and economy. The policy focuses on ...Published: 07 Apr 2024 at 09:17hrs | 11 | by Dr Bekithemba Mpofu
RBZ adopts market-based exchange rate
THE Reserve Bank of Zimbabwe (RBZ) has adopted a market-determined system for setting exchange rates, with the auction system being replaced by a refined interbank foreign exchange market which connec...Published: 06 Apr 2024 at 08:06hrs | | by Staff reporter
Whistleblower seeks High Court protection
A LOCAL businessman, who exposed a well-organised syndicate for externalising foreign currency through the Reserve Bank of Zimbabwe, has approached the High Court seeking protection since his life is ...Published: 05 Apr 2024 at 06:01hrs | 20 | by Staff reporter
Zimbabwe debt set to balloon
ZIMBABWE is set to finance its 2024 total budget financing gap of ZWL$9,2 trillion through domestic and external borrowing, a development that will further sink the country deep into debt.Acco...Published: 28 Feb 2024 at 06:28hrs | 4 | by Staff reporter
Fresh measures to prop up Zimdollar
The GOVERNMENT is set to unveil new interventions, which may include reforming the foreign currency auction system and boosting foreign currency supply in the market, to deal with the recent volatilit...Published: 21 Jan 2024 at 07:27hrs | 1 | by Staff reporter
CCZ warns retailers on price distortions
The Consumer Council of Zimbabwe (CCZ) has issued a stern warning to retail outlets, demanding responsible pricing on all goods and strict adherence to the foreign currency auction system if operating...Published: 28 Dec 2023 at 10:27hrs | 14 | by Staff reporter
Biti rips into Ncube's 'disastrous' budget
FORMER Finance minister Tendai Biti has described the 2024 budget as a disaster amid concerns that the proposed raft of taxes will deepen Zimbabwe's poverty levels and worsen the economic challenges....Published: 03 Dec 2023 at 17:33hrs | 15 | by Staff reporter
Minister loses money to fraudsters
CCC MP calls out delays in RBZ's currency auctionAn opposition legislator has raised concern over delays in the disbursement of foreign currency from the Reserve Bank of Zimbabwe (RBZ)'s auction s...Published: 30 Nov 2023 at 06:55hrs | 5 | 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 | 3 | by Staff reporter
Zimbabwe govt maintains tight monetary, fiscal measures
GOVERNMENT yesterday said it would continue with the tight fiscal and monetary policy measures that include increasing the retention on domestic foreign currency sales to 100%, among others.Ac...Published: 08 Sep 2023 at 06:31hrs | 1 | by Staff reporter
Public warned against fraudster and conman Itai Nyabonda
Itai Nyabonda, a notorious fraudster and conman, has recently made headlines in the financial intelligence and serious fraud circles. Nyabonda boasts of a history of deceiving unsuspecting victi...Published: 02 Sep 2023 at 19:16hrs | 46 | by Isaac Ncube
Zimbabwe suffers brain drain due to fragile political environment, faltering economy
ZIMBABWE has gone through severe economic fluctuations and deadly political violence that brought the entire economy to a standstill.Of particular mention is the 2007/8 record hyperinflation f...Published: 25 Aug 2023 at 06:28hrs | 1 | by Zimbabwe Coalition on Debt and Develpment
'CCC to dump Zimdollar'
NELSON Chamisa's Citizens Coalition for Change (CCC) says it will promptly, albeit temporarily, dump the Zimbabwe dollar for the United States dollar if elected as the new government.Speaking ...Published: 22 Aug 2023 at 06:27hrs | 2 | by Stafff 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 | 9 | by Staff reporter
Zimbabwe experienced a significant increase in macroeconomic fluctuations in June 2023
Zimbabwe Coalition on Debt and Development has said Zimbabwe experienced a significant increase in macroeconomic fluctuations in June 2023, with the local currency losing over 55% of its value in both...Published: 25 Jul 2023 at 12:42hrs | 17 | by Stephen Jakes
Zimbabwe records its best ever tobacco sales
The curtain finally comes down on the 2023 tobacco marketing season after nearly four months of record sales with the official closing ceremony now set for 31 July.In a statement on Monday, th...Published: 24 Jul 2023 at 19:44hrs | 23 | by Staff reporter
Zimbabwe govt punishes rogue businesses
THE Ministry of Finance and Economic Development has suspended trading licences for 17 pharmacies for violation of the Exchange Control directives and Government policy where they were using speculati...Published: 12 Jul 2023 at 08:16hrs | | by Staff reporter
Scandal rocks Chamisa's CCC?
The Citizens Coalition for Change (CCC) has been rocked by a scandal with members across the country alleging that the selection process for the party's candidates in next month's polls was rigged in ...Published: 06 Jul 2023 at 17:23hrs | | by Staff reporter
Zinara reduces toll fees
THE strengthening of the local currency against the United States dollar has opened a floodgate of benefits for the motoring public as the Zimbabwe National Road Administration yesterday reviewed down...Published: 06 Jul 2023 at 08:13hrs | 3 | by Staff reporter
Zimdollar demand soars
DEMAND for the Zimbabwean dollar continues to soar as more businesses and individuals seek to transact using the local currency, which has regained its lost value for the third consecutive time at the...Published: 05 Jul 2023 at 07:15hrs | 1 | by Staff reporter
Zimdollar in first time gain on RBZ Auction
THE ZW$ value firmed up by 8,6% on the Reserve Bank of Zimbabwe Auction platform , signalling improved widespread usage of the local currency on the back of the economy's swift response to economic me...Published: 28 Jun 2023 at 20:27hrs | 2 | 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 | 3 | by Staff reporter
Zimbabwe official bank rate latest
THE Zimbabwe Dollar slightly weakened against the United States dollar at the weekly forex auction system where it traded at Z$ 6 9296 to the greenback from US$1:ZW$5 978 last week.In an updat...Published: 20 Jun 2023 at 18:31hrs | 3 | by Staff reporter
MPs summon Mthuli Ncube
MEMBERS of Parliament (MPs) have demanded — again — that Finance minister Mthuli Ncube avail himself to the National Assembly to deal with the fast-deteriorating economic situation and answer ques...Published: 12 Jun 2023 at 06:45hrs | 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 | 5 | by Staff reporter
'RBZ directive to trigger more power cuts'
EXPERTS have warned of more power outages after the central bank ordered non-exporters to settle their energy bills in Zimbabwean dollars in a bid to keep the under-fire local currency relevant....Published: 09 Jun 2023 at 06:33hrs | 3 | by Staff reporter
If anyone has to withdraw from Zim elections then it should be Mnangagwa!
So, political commenter Jonathan Moyo believes that, for the good of the Cowdary Park (Bulawayo) constituency, possible opposition CCC candidate Thokozani Khupe should withdraw her bid, and allow the ...Published: 07 Jun 2023 at 13:57hrs | 2 | by Tendai Ruben Mbofana
Zimbabwe family basket shoots to $1 million
THE Consumer Council of Zimbabwe (CCZ) says a family of six now requires $1 million a month to survive, up from $611 275 in April, reflecting the depth of the Zimdollar's crash and resultant price spi...Published: 07 Jun 2023 at 08:47hrs | 2 | by Staff reporter
Zimdollar's black month
THE official auction and interbank exchange rates rose by about 100% and 150%, respectively, last month marking a significant depreciation of the Zimbabwe dollar, a new report has found.At the...Published: 05 Jun 2023 at 06:53hrs | 1 | by Staff reporter
RBZ cannot control black market exchange rate
THE Reserve Bank of Zimbabwe (RBZ) is not responsible for the skyrocketing black-market exchange rate amid rising inflation in the country, according to the its senior payment systems analyst, Howard ...Published: 05 Jun 2023 at 06:48hrs | 2 | 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
'Dump Zimdollar'
ECONOMIC analysts have said Finance minister Mthuli Ncube's new measures introduced on Monday have very little chance of saving the Zimbabwe dollar from collapse.They instead advised Ncube to ...Published: 01 Jun 2023 at 06:47hrs | 1 | by Staff reporter
Mthuli's theatrics expose government lack of seriousness in addressing Zim economic crisis!
So, finance minister Mthuli Ncube, over the weekend, went around shops in Bulawayo, like a crazed vigilante, tearing down tags displaying prices strictly in US dollars!He even berated a haples...Published: 29 May 2023 at 23:02hrs | | by Tendai Ruben Mbofana
Mnangagwa govt fails to rig price hikes
The Reserve Bank of Zimbabwe (RBZ) has frozen bank accounts of four major distributors of basic commodities as President Emmerson Mnangagwa's government scrambles to find solutions to soaring prices a...Published: 28 May 2023 at 08:09hrs | 3 | by Staff reporter
4 rogue firms' accounts frozen
BANK accounts belonging to four major basic commodity distributors have been frozen for suspected economic sabotage, while unscrupulous manufacturers and pharmaceutical companies also face the same co...Published: 28 May 2023 at 07:59hrs | 3 | by Staff reporter
Ball is in Mnangagwa's court
LAST week, Zimbabwe continued with its structured debt clearance dialogues with foreign creditors owed over US$14 billion, as the country makes important steps to weave its way out of the debt hole....Published: 26 May 2023 at 06:37hrs | 2 | by Staff reporter
Zimdollar in record crash
THE Zimbabwe dollar tumbled by nearly 26% on the official market on Tuesday, the biggest collapse in one day since the auction system was introduced three years ago, while a government inquiry accused...Published: 25 May 2023 at 06:24hrs | | by Staff reporter
Zimbabwe has no leader - plain and simple!
Can anyone surely wake up in the morning, take a bath, don his suit, put on his scarf, and look himself in the mirror with a satisfied smile, calling himself a leader - when the country he leads goes ...Published: 24 May 2023 at 09:41hrs | 3 | by Tendai Ruben Mbofana
Zimdollar tanks
THE official exchange rate at the Reserve Bank of Zimbabwe (RBZ)'s Foreign Exchange Auction System today jumped to US$1: ZWL$1,888 with US$14 million allocated to businesses.Last week, the rat...Published: 23 May 2023 at 21:15hrs | 1 | by Staff reporter
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