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85% of gold coins sold in Zimdollars
THE Reserve Bank of Zimbabwe (RBZ) has revealed that 1 500 gold coins were sold by its agents during the first week of their release onto the market, signalling a strong demand for the yellow metal cu...Published: 02 Aug 2022 at 06:53hrs | 10 | by Staff reporter
Zimbabwe cash crisis spirals out of control
IT is an August morning in Harare. Winter winds are blowing cold. Samuel braves the cold, wakes up at 3am from his Kuwadzana home and treks to the central business district to look for cash at the ban...Published: 15 Aug 2019 at 07:28hrs | 1 | by Staff greporter
Interbank trades hit US$5m daily
Over US$5 million is now being traded daily on the interbank foreign exchange market as business confidence on the platform continues to grow. President Mnangagwa revealed these statistics in ...Published: 13 Aug 2019 at 07:07hrs | | by Staff reporter
Exposed: The men who are causing mass suffering in Zimbabwe
The Reserve Bank Governor gave a monetary policy statement which was exactly two months late. The delay was caused by a power struggle within those in finance corridors of power namely the minister of...Published: 25 Feb 2019 at 07:36hrs | 3 | by Dr Masimba Mavaza
Zanu-PF admits currency chaos
Zanu-PF has admitted that the government's monetary policies have failed and that it fears the worsening economic crisis could lead to riots.The ruling party's committee on the economy made th...Published: 23 Dec 2018 at 09:45hrs | 1 | by Staff reporter
Zimbabwe cash problems will not be solved by using foreign monies alone
It is true that businesses in Zimbabwe discuss major business deals and even small purchases with the cost listed in US dollars, even when the US is not involved in the transaction. The US dollar is v...Published: 06 Dec 2018 at 18:53hrs | 3 | by Dr Masimba Mavaza
Knives out for ZANU PF's Mlungisi Moyo
ZANU PF s provincial secretary for finance in Bulawayo might soon recalled from his position amidst accusations that he has set up parallel structures stuffed with illegal money changers in a plot to ...Published: 17 Nov 2018 at 08:56hrs | 8 | by Mandla Ndlovu
Mnangagwa tightens noose on cash barons
CASH barons who have been accused of fuelling parallel market currency rates and a raft of other economic ills will now face up to two years in prison if they fail to explain the source of their wealt...Published: 13 Nov 2018 at 06:15hrs | 1 | by Staff reporter
Mnangagwa's corruption laws must not just be paper tigers
WHILE we applaud President Emmerson Mnangagwa for gazetting regulations meant to deal with the scourge of corruption in the financial services sector, it is more important to ensure implementation of ...Published: 13 Nov 2018 at 06:08hrs | 1 | by Editorial - newsday
Panic as Mnangagwa targets cash barons' bank accounts
BOGUS businesspersons operating briefcase companies that fed on government tender manipulation and kickbacks to amass wealth are reportedly in panic mode after the State said it would use the Zimbabwe...Published: 12 Nov 2018 at 05:48hrs | | by Staff reporter
'RBZ must be as clean as possible'
The Reserve Bank of Zimbabwe has been under scrutiny following the suspension of four directors - Messrs Mirirai Chiremba (financial intelligence), Norman Mataruka (bank supervision), Gresham Muradzik...Published: 28 Oct 2018 at 09:09hrs | | by Staff reporter
Let's not indulge obstructionists
The more I see some categories of people who are stridently and rabidly opposing Finance minister Mthuli Ncube's economic stabilisation programme - as opposed to those offering measured and constructi...Published: 26 Oct 2018 at 07:10hrs | 1 | by Conway Tutani
Chamisa statement on the prevailing economic, political and humanitarian situation
Fellow Zimbabweans! 1.1 I have taken time to assess the environment in the country to have a first-hand account of the economic, political and humanitarian situation. Indeed,...Published: 23 Oct 2018 at 14:24hrs | | by Adv. Nelson Chamisa MDC President
Mnangagwa strikes at RBZ as promised
HEADS have started rolling at the Reserve Bank of Zimbabwe (RBZ), with four top executives being suspended yesterday less than 24 hours after Finance ministry communications taskforce chairperson Will...Published: 23 Oct 2018 at 06:40hrs | 2 | by Staff reporter
RBZ bosses suspension laudable, but ...
YESTERDAY'S suspension of four senior Reserve Bank of Zimbabwe (RBZ) directors fingered in fuelling the parallel market rates between the United States dollar and the bond notes, which has resulted in...Published: 23 Oct 2018 at 06:34hrs | | by Editorial - newsday
Mnangagwa unleashes CIO on cash barons
FINANCE minister Mthuli Ncube will this week meet with the country's State security agents for a briefing on the soaring foreign currency shortages as government tightens the noose on highly-placed fo...Published: 22 Oct 2018 at 06:44hrs | 1 | by Staff reporter
Mnangagwa's ministers in political storm
POLICE have reportedly sought search and seizure warrants against named top Zanu PF officials and former Cabinet ministers as government begins swooping on cash barons and suspected economic saboteurs...Published: 21 Oct 2018 at 10:20hrs | | by Staff reporter
Ministers face arrest in blitz
POLICE have reportedly sought search and seizure warrants against named top Zanu-PF officials and former Cabinet ministers as government begins swooping on cash barons and suspected economic saboteurs...Published: 20 Oct 2018 at 08:18hrs | 3 | by Staff reporter
'Deal ruthlessly with illegal forex traders' - first deal with Banks for NOT trading
No pain no gain! Is a phrase that has been abused in Zimbabwe to get the poor to give up the little they have for a better tomorrow that is always a day away. After 38 years of these empty promises th...Published: 18 Oct 2018 at 16:47hrs | 1 | by Nomusa Garikai
Zim economy in typical labour pains
Some pains are just but a necessary evil and ought to be lived through than avoided if the benefits are to be harnessed in totality. Joys of motherhood come with excruciating pain, sweating and energy...Published: 18 Oct 2018 at 11:13hrs | 4 | by Caitlin Kamba
'Tax pain must be shared'
While it is understandable for President Emmerson Mnangagwa to call on Zimbabweans to adjust to the two percent tax regime for better economic transformation, analysts believe that the pain should als...Published: 15 Oct 2018 at 12:32hrs | | by Staff reporter
Black market rates hit 100% ceiling, why and how?
PARALLEL market rates have finally hit 100% when using EcoCash or bank transfers to buy the greenback, the first time they have reached such a rate since dollarisation and the main question now is how...Published: 18 Jul 2018 at 07:28hrs | | by Staff reporter
RBZ increases cash injections to $150m
RESERVE Bank of Zimbabwe governor John Mangudya says the central bank has increased the foreign currency injections into the economy by 50% to $150 million a month to ease forex shortages.This...Published: 16 Jul 2018 at 07:20hrs | | by Staff reporter
Zimbabwe must have own currency, says Mukupe
ZIMBABWE should introduce its own currency that will be backed by commodities to deal with the prevailing cash crunch, a Minister has said.Addressing delegates at the Chief Executive Officer (...Published: 17 Jun 2018 at 10:44hrs | | by Staff reporter
RBZ not funding black market, says Finance Minister
FINANCE and Economic Development Minister Patrick Chinamasa has dismissed speculation that the Reserve Bank of Zimbabwe is funding black market selling of foreign currency.Chinamasa said this ...Published: 12 May 2018 at 07:18hrs | 5 | by Staff Reporter
'Mangudya not funding black market'
Finance and Economic Development Minister Patrick Chinamasa has dismissed speculation that the Reserve Bank of Zimbabwe (RBZ) was funding the black market through selling foreign currency.Mini...Published: 11 May 2018 at 07:18hrs | 3 | by Staff reporter
'Mugabe can go hang'
Bulawayo based politicians have said former president Robert Mugabe must go hang, following his alleged demands to have his pension lump sum pay-out in cash.Mugabe was recently quoted to have ...Published: 15 Mar 2018 at 09:04hrs | | by Staff reporter
Zimbabwe cash problems will not be solved by using foreign monies alone
It is true that businesses in Zimbabwe discuss major business deals and even small purchases with the cost listed in US dollars, even when the US is not involved in the transaction. The US dollar is v...Published: 14 Jan 2018 at 07:09hrs | 3 | by Dr Masimba Mavaza
Mnangagwa told his govt officials must lead by example
Zimbabwe Retailers Association leader Denford Mutashu has reportedly told president Emmerson Mnangagwa to lead by example in the reduction of prices.He reportedly said he should be the l...Published: 09 Jan 2018 at 15:55hrs | | by Stephen Jakes
Mnangagwa ally blames cash crisis on US sanctions
PROPER banking services will return after the Zimbabwe Democracy and Economic Recovery Act (Zidera) has been removed, opening lines of credit, Finance deputy minister Terrence Mukupe said yesterday....Published: 15 Dec 2017 at 05:47hrs | | by Staff reporter
If Mnangagwa is dead man walking, Mugabe is a goritoto
The dictator cannot fix the economy. He can kill, he can display anger or irritation but that will not help him an inch. Public anger and resentment has been simmering under the surface u...Published: 06 Oct 2017 at 07:26hrs | | by Sam Wezhira
Old Mugabe has completely lost it, no two ways!
President Robert Mugabe's declaration that he is going nowhere despite the hardships experienced by ordinary Zimbabweans clearly shows his obduracy to the plight of the citizenry.This also dem...Published: 30 Sep 2017 at 06:38hrs | | by Staff Reporter
Police launch blitz on illegal cash dealers
POLICE in Bulawayo yesterday descended heavily on illegal cash dealers popularly known as osiphatheleni in a bid to eradicate the thriving black market that government blames for the cash shortages pl...Published: 28 Sep 2017 at 07:01hrs | 2 | by Staff reporter
Scores of osphatheleni arrested in Bulawayo
POLICE in Bulawayo have launched a blitz targeting illegal forex changers popularly known as osiphatheleni who are accused of hoarding cash at a time when the cash crisis has worsened.The blit...Published: 28 Sep 2017 at 06:44hrs | | by Staff reporter
RBZ to craft law to arrest cash dealers
The Reserve Bank of Zimbabwe (RBZ) says it is finally working on an instrument to arrest cash dealers operating on the parallel market, where they are effectively controlling the economy with authorit...Published: 27 Sep 2017 at 06:18hrs | 4 | by Staff reporter
RBZ to deal with bankers, cash barons
The Reserve Bank of Zimbabwe (RBZ) has warned bankers and cash barons against selling cash on the black market. Cash barons have taken advantage of cash challenges and are charging between 15 percent ...Published: 25 Sep 2017 at 23:31hrs | | by Staff reporter
Police, RBZ descend on cash barons
POLICE have arrested three people on allegations of externalising more than $7 million through Botswana in a blitz that is involving the Zimbabwe Anti-corruption Commission and the Reserve Bank of Zim...Published: 10 Sep 2017 at 07:49hrs | 1 | by Staff Reporter
'$200m in cash barons' hands'
THE Reserve Bank of Zimbabwe (RBZ) has imported over US$$400 million cash since January this year to address the cash shortages but of that amount only less than US$200 million is in circulation....Published: 30 Jul 2017 at 08:02hrs | | by Staff reporter
Cash dealers milk Tongaat workers as cash crunch bites
Cash dealers who are taking advantage of the cash crisis in the country are milking Tongaat Hulett workers who are paid through ecocash.It's already a dejavu to 2008 when all cash, local and f...Published: 31 Oct 2016 at 06:54hrs | | by Staff reporter
Cash burning is back.
CASH burning which was popular during the hyperinflation era of around 2007, is back in Bulawayo, with cash barons taking advantage of the crippling shortages to sell cash to desperate members of ...Published: 09 Oct 2016 at 07:37hrs | 1 | by Staff reporter
Bindura business mogul to buy Highlanders
Highlanders FC is on the verge of being sold to a Bindira businessperson, Bulawayo24.com has heard.If the deal sails through, it will likely anger thousands of supporters.On Friday...Published: 16 Jul 2016 at 12:58hrs | | by Thobekile Zhou
Zimbabwe economy getting worse
Economic experts have warned afresh that Zimbabwe's economy is in dire straits and that authorities need to move with more urgency and vigour to mitigate the country's plummeting fortunes.The ...Published: 16 Jun 2016 at 14:37hrs | | by Staff reporter
Crack CID team to fish out cash barons
PROMINENT figures in various fields, including industry and commerce, have been identified as cash externalisation kingpins and could be arrested in coming days. Police have also activated a crack tea...Published: 15 May 2016 at 10:19hrs | | by Staff Reporter
Unpaid municipal workers seek Kasukuwere's intervention
Harare City Council workers who have gone for six months without pay have urged Local Government, Public Works and National Housing Minister Saviour Kasukuwere to intervene, accusing the city of infri...Published: 11 May 2016 at 06:46hrs | | by Municipal Reporter
'Cash barons' fleece farmers
Some unscrupulous businesspeople are taking advantage of cash shortages to dupe unsuspecting farmers at the tobacco auction floors, the Tobacco Industry and Marketing Board has said.Briefing t...Published: 11 May 2016 at 06:45hrs | 2 | by Elita Chikwati
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