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BAZ, central bank meet over policy interventions
The Bankers Association of Zimbabwe (BAZ) held a crucial meeting with the Reserve Bank of Zimbabwe (RBZ) governor, Dr. John Mushayavanhu, on Monday to address key policy changes from the Monetary Poli...Published: 03 Oct 2024 at 08:44hrs | 56 | by Staff reporter
Zimbabwe banks reduce lending as crisis persists
Zimbabwe's banking sector is facing significant challenges that have limited its ability to lend, according to the Bankers Association of Zimbabwe (BAZ). Key issues include the absence of a le...Published: 06 Sep 2024 at 14:41hrs | 201 | by Staff reporter
Zimbabwe currency crisis: Time to face the truth
THERE is, of course, no such thing as "a shortage of foreign currency".In open and disciplined markets, all that such a claim reflects is an over-valued local currency, whose managers resist t...Published: 07 Apr 2024 at 10:26hrs | 1 | by Obert Nyandoro
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 | | by Staff reporter
South Africa on the edge! National renewal needed urgently
WITH various leaders and commentators having suggested that things have gone horribly wrong in South Africa since Cyril Ramaphosa became president more than five years ago, to such an extent that the ...Published: 24 May 2023 at 17:18hrs | 1 | by Thandisizwe Mgudlwa
Mangudya warns against forex loans
In a situation where there is little foreign currency in the market despite the banking sector having US$2,5 billion in nostro deposits, Reserve Bank of Zimbabwe governor John Mangudya has warned agai...Published: 12 Mar 2023 at 06:37hrs | 5 | by Staff Reporter
Analysis of the 2023 national budget
The Zimbabwean government presented a ZW$4.5 trillion budget (21% of 2021 GDP) for the 2023 fiscal year. The government expects to collect revenues totaling ZW$3.9 billion (18% of GDP), thus resulting...Published: 16 Dec 2022 at 00:15hrs | 11 | by Victor Bhoroma
Zimbabwe macroeconomic priorities for 2023
Zimbabwe's treasury department presented a ZW$4.5 trillion budget (21% of 2021 GDP) for the 2023 fiscal year. The budget roughly translates to US$5.3 billion if the market exchange rate is used. As is...Published: 15 Dec 2022 at 23:53hrs | | by Victor Bhoroma
Reserve Bank of Zimbabwe keeps bank rate at 200%
THE Reserve Bank of Zimbabwe (RBZ) has kept its bank policy rate at 200 percent after its Monetary Policy Committee (MPC) expressed satisfaction with how the current tight monetary policy stance has h...Published: 06 Dec 2022 at 04:58hrs | 1 | by Staff reporter
Chamisa's politics of salving troubled consciences
Politics and poetryWilliam Butler Yeats, I think it was he who said out of our arguments with others we make politics, but out of arguments with ourselves we make poetry!We can forgive...Published: 03 Dec 2022 at 07:10hrs | 4 | by @Jamwanda2 on Saturday
Why is debt tough in poor countries than US?
The debate on African development has been trapped between mismanagement by its leadership and those who argue that Africa is rising but its progress is waylaid by conditions it found itself in upon j...Published: 10 Oct 2022 at 06:09hrs | | by Tapiwa Gomo
Zimbabwe inflation on downward spiral?
The introduction of gold coins and a review of payment methods for suppliers of goods and services, particularly those undertaking major national infrastructure projects, is expected to see a decline ...Published: 02 Aug 2022 at 06:42hrs | | by Staff reporter
Sanctions make Russian debt default a non-event
Russia is on the brink of its first debt default since 1998 as the Sunday deadline to make a $100m interest payment seems certain to be missed.Russia has the money and is willing to pay, but s...Published: 26 Jun 2022 at 09:26hrs | | by BBC
Billion-dollar loans used to manipulate exchange rate
Fifteen major companies have been creating huge extra profits by borrowing billions of dollars, often from several banks, at concessionary interest rates, stocking up and then selling in US dollars an...Published: 18 Jun 2022 at 07:22hrs | 6 | by Staff reporter
Zamco winds up operations
THE Zimbabwe Asset Management Company (Zamco) is winding up operations after it paid off, last year, the $1,2 billion it received from the Government to acquire Non-Performing Loans (NPLs).Zam...Published: 17 Jun 2022 at 08:14hrs | | by Staff reporter
RBZ to launch collateral registry
THE Reserve Bank of Zimbabwe (RBZ) says the collateral registry, a record keeping system for the existence of security, would be launched by the third quarter of this year. The collateral regi...Published: 19 May 2022 at 06:31hrs | | by Staff reporter
Mnangagwa guns for economic hitmen
PRESIDENT Emmerson Mnangagwa's administration has launched a massive clampdown on some big corporates suspected of conniving with local banks to borrow billions of Zimbabwean dollars which they used t...Published: 13 May 2022 at 19:14hrs | | by Staff reporter
Govt cracks down on speculators
GOVERNMENT is clamping down on big corporates, which borrowed billions of Zimbabwe dollars and used the money for speculative activities while taking advantage of exchange rate movements to push up pr...Published: 13 May 2022 at 19:02hrs | 1 | by Staff reporter
Bank lending freeze targets big corporates enjoying 'arbitrage profits'
HARARE - The Zimbabwe government is clamping down on big corporates which borrowed billions in Zimbabwean dollars and allegedly used the money for speculative activities.Authorities say the co...Published: 13 May 2022 at 14:50hrs | 5 | by Staff Reporter
RBZ threatens to 'name, shame' borrowers
THE Reserve Bank of Zimbabwe (RBZ), in a bid to stem the spiralling parallel market rates for the United States (US) dollar, has threatened to name and shame individuals who have borrowed large sums o...Published: 12 May 2022 at 06:30hrs | | by Staff reporter
Companies must use banking services, period
EXPERTS say although banks do many things, their primary role is to take in funds—called deposits—from those with money, pool them, and lend them to those who need funds.In essence, banks ...Published: 03 Apr 2022 at 08:23hrs | | by Staff reporter
Mangudya ranked worst performing central bank governor in Africa
The Central Banker Report Cards, published annually by Global Finance since 1994, grade the central bank governors of 101 key countries and territories, including the European Union, the Eastern Carib...Published: 12 Jan 2022 at 05:13hrs | 10 | by Staff reporter
US$4 billion mystery in Afreximbank, Zimbabwe deals
SHARP differences emerged between Zimbabwean authorities and the Africa Export–Import Bank (Afreximbank) on Friday over the value of loans extended by the regional lender to Harare.During a ...Published: 28 Nov 2021 at 08:02hrs | 6 | by Staff reporter
Pegged exchange rate unsustainable
Zimbabwe's export receipts for the first 9 months of 2021 jumped 38% to US$6.10 billion from US$4.43 billion realized in the same period in 2020. Notable improvements have been realized in internation...Published: 24 Nov 2021 at 10:37hrs | 9 | by Victor Bhoroma
Covid-19 protocols remain in force
Cabinet received an update on the country's response to the Covid-19 pandemic, procurement and roll-out of vaccines, as presented by chairman of the Ministers' National Committee, Vice President and M...Published: 17 Nov 2021 at 05:06hrs | 9 | by Staff reporter
Time Bank offers to finance former farmers' compensation
Time Bank Zimbabwe Limited that is set to re-open its doors to the public on December 01 this year, has excited the market after unveiling four types of loan facilities among them a scheme for payment...Published: 14 Oct 2021 at 06:20hrs | | by Staff reporter
Zamco clears US$14,3m in bad debts
OVER 70% of the total loans taken over by the Zimbabwe Asset Management Company (Zamco) have been fully expunged, with the vehicle now seized with processes to wind up its operations ahead of its suns...Published: 27 Aug 2021 at 06:38hrs | | by Staff reporter
Banks decline requests by MDC Alliance to open accounts?
SENIOR officials in the MDC Alliance in Masvingo Province have claimed that their request to open bank accounts for the opposition party have been turned down by CBZ.Zimbabwe's government has ...Published: 26 Aug 2021 at 19:10hrs | 1 | by Staff reporter
RBZ establishes collateral registry
THE Reserve Bank of Zimbabwe (RBZ) is working with BSystems Limited of Ghana to operationalise the collateral registry system by year end, after the apex bank awarded the company the tender for the da...Published: 24 Aug 2021 at 06:27hrs | | by Staff reporter
Zimbabwe's inflation rate now at 194%
THE annual inflation rate will continue falling and year-on-year inflation will be below 55 percent in July, the Reserve Bank of Zimbabwe's Monetary Policy Committee (MPC) says, confirming trends. ...Published: 05 May 2021 at 07:13hrs | 5 | by Staff reporter
Mnangagwa's govt issues ZW$750m fresh guarantees
GOVERNMENT has undertaken to guarantee public and private financial institutions including the Infrastructural Development Bank of Zimbabwe (IDBZ) for debts accrued through the floatation of a series ...Published: 05 Mar 2021 at 06:55hrs | | by Staff reporter
An independent state is the only viable option for the people of Mthwakazi from the MLF president
Greetings to all! It is important to underline in addition to the emphasis on the importance of skills development for Mthwakazi which was published last week, that we look forward to fruitful...Published: 10 Jan 2021 at 15:04hrs | 1 | by Churchill Mpiyesizwe Guduza
Afro-Sino economic relations in the 21st Century: Mixed Reactions and Misinterpretations
The Author is a Master of Science in International Trade and Diplomacy student at the University of Zimbabwe. He holds a MSc degree in Development Studies (National U...Published: 04 Jan 2021 at 19:21hrs | 9 | by Livingstone Kazizi
Foreign banks shut out debt-ridden state firms
SEVERAL foreign banks have spurned requests by Zimbabwe's broke state firms to borrow millions of dollars to pay off more debts and bankroll critical infrastructure development projects, businessdiges...Published: 11 Dec 2020 at 18:59hrs | 5 | by Staff reporter
Mthuli Ncube crafts debt control plan
Government has formulated a framework for evaluating, monitoring and managing publicly guaranteed and on-lent loans as they contribute to significant debt accumulation in the event of default by the p...Published: 06 Dec 2020 at 07:41hrs | 1 | by Staff reporter
Zimbabwe's business climate can improve
As the Zimbabwe Stock Exchange (ZSE) puts final touches on the infrastructure needed for operations of the Victoria Falls Securities Exchange (VFEX), investors await to see if their major concerns on ...Published: 11 Oct 2020 at 09:57hrs | | by Victor Bhoroma
How to recover after getting rejected for a personal loan
A lender turning down your personal loan application can be a serious blow to your finances. If it was your last option, you'll be in a more difficult position, especially if the situation is urgent s...Published: 06 Sep 2019 at 06:10hrs | | by Staff Reporter
Zimbabwe eyes US$2bn from G7 nations
Zimbabwe will borrow US$1,9 billion from the Group of 7 industrialised nations to clear debts to the African Development Bank (AfDB) and World Bank, Finance and Economic Development Minister Mthuli Nc...Published: 19 Aug 2019 at 07:35hrs | | by Staff reporter
Zamco debt recovery at 23%
A SPECIAL purpose vehicle set to take up banks' accrued debts, the Zimbabwe Asset Management Company (Zamco), has so far recovered only 23,2% of the $1,13 billion toxic money, the minister of Finance ...Published: 05 Aug 2019 at 07:37hrs | | by Staff reporter
Mthuli Ncube confirms new grand fiscal heist
FINANCE minister Mthuli Ncube yesterday unwittingly confirmed government committed a grand US$7 billion fiscal heist - by design or accident - when it banned without warning the multi-currency system ...Published: 02 Aug 2019 at 15:17hrs | 1 | by Staff reporter
Inflation-linked pay-outs for pensioners
Pensioners are set to start receiving inflation-adjusted pay-outs, as the National Social Security Authority (NSSA) starts reviewing the compensation framework.The latest recorded year-on-year...Published: 14 Jul 2019 at 12:24hrs | | by Staff reporter
Mthuli Ncube could hike rates over 50% to deal with speculators
Zimbabwe won't hesitate to raise interest rates above their current level of 50 percent to deal with speculative borrowers, Finance Minister Mthuli Ncube said on Monday.As inflation soared, th...Published: 10 Jul 2019 at 21:57hrs | | by Reuters
RBZ takes aim at forex speculators
Government says the sharp hike of the overnight bank rate by the Reserve Bank of Zimbabwe to support the domestic currency will discourage borrowing for currency speculation as well as protect the val...Published: 03 Jul 2019 at 08:29hrs | | by Staff reporter
Scrapping of multi-currency regime: The implications
ON Monday, the government announced major changes in the monetary policy of Zimbabwe, highlighted by the ending of a 10-year multi-currency system.Further measures announced include the intend...Published: 26 Jun 2019 at 07:32hrs | | by Respect Gwenzi
Mthuli Ncube's stroke of genius
Industrialists, labour and economists have thrown their weight behind currency reforms, which culminated in the scrapping of the multi-currency system on local transactions, saying it was a "great mov...Published: 25 Jun 2019 at 07:30hrs | | by Staff reporter
Africa Awaits Russia's Investment
Russia has been looking to raise its existing relationship with African countries and Afreximbank is now providing huge support in realizing that long term goal. The bank, with the task of transformin...Published: 22 Jun 2019 at 11:04hrs | 5 | by Kester Kenn Klomegah
Funding Africa's infrastructure gap
Key to enabling African economies to make the most of their opportunities is developing infrastructure in the region. Across the continent, new laws are being implemented and alternative sources of in...Published: 30 May 2019 at 19:52hrs | | by Agencies
Understanding the ZAMCO business model
There has been a lot of talk about the Zimbabwe Asset Management Company (Zamco) lately, particularly after the appearance of the Reserve Bank of Zimbabwe governor, John Mangudya, before the Parliamen...Published: 04 Apr 2019 at 07:02hrs | | by Vince Musewe
'Govt subsidies for private players not sustainable'
Government has been warned against clandestine price controls being effected through its stranglehold on foreign currency allocation.Economic analysts said there were companies that were being...Published: 27 Jan 2019 at 19:18hrs | | by Staff reporter
After the demonstrations ED will not put the fuel prices down
The hike in fuel prices, especially diesel, is likely to have a spiralling effect on the surging inflation over the medium-term horizon. The government's step to hike fuel prices would further aggrava...Published: 14 Jan 2019 at 15:27hrs | | by Dr Masimba Mavaza
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