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RBZ exposes massive money laundering
The Reserve Bank of Zimbabwe (RBZ) has unearthed large-scale illicit financial flows (IFFs) in the country's real estate and motor vehicle dealership sectors, revealing industrial-scale money launderi...Published: 18 Jul 2025 at 14:40hrs | 1239 | by Staff reporter
The futility of Zimbabwe's crackdown on the informal sector
The Zimbabwean government has once again embarked on a futile mission to regulate the informal sector, a behemoth that has long outgrown the state's capacity to control it.In a desperate bid t...Published: 01 Feb 2025 at 21:32hrs | 1071 | by Tendai Ruben Mbofana
Surge in US$ cash transactions triggers spike in armed robberies in Zimbabwe
Zimbabwe is experiencing an alarming rise in armed robberies, with the increasing use of US dollar cash transactions making businesses, banks, and individuals prime targets for criminals. Violent atta...Published: 27 Nov 2024 at 06:50hrs | 260 | by Staff reporter
Mutsvangwa's son will learn his fate today
Today, the High Court is set to deliver a verdict on the bail application of Neville Mutsvangwa, son of Zanu PF spokesperson Christopher Mutsvangwa, who faces charges of illegal foreign currency deali...Published: 22 May 2024 at 10:07hrs | 12 | by Staff reporter
Historical background of the town of Mvurwi formerly Umvukwes
Mvurwi is a prosperous farming town in Mashonaland Central province. The town is situated about hundred kilometers north of Harare along Kanyemba road, Mvurwi was formally known as Umvukwesi or (Mumug...Published: 27 Dec 2023 at 20:02hrs | 289 | by Givestar Kamuzonde
To see the saboteur, Mr President, look in the mirror
NewsdayHAVE we seriously gone back to blaming ghosts and shadows for the economy bottoming out?Are we going to be turning every stone, nook, and cranny looking for perceived "saboteurs...Published: 23 May 2023 at 06:40hrs | 1 | by Staff reporter
SA chrome tycoon 'pays millions' to Zanu-PF chefs
A FIRM controlled by one of South Africa's richest tycoons suspiciously moved millions of United States dollars to politically connected Zimbabwean companies and powerful individuals, about five years...Published: 29 Apr 2023 at 19:32hrs | 14 | by Staff reporter
Arthur Fraser's sworn affidavit rocks Ramaphosa's camp, why did Zondo deny him chance to testify?
STARTLING revelations by former State Security Agency (SSA) director-general, Arthur Fraser, in an affidavit deposed to the South African Police Services (SAPS), about an undisclosed sum of money, bel...Published: 17 Jun 2022 at 12:34hrs | 2 | by Sizwe Dlamini
8 firms in court over EcoCash deals
EIGHT financial institutions that were allegedly involved in foreign currency dealings in Harare through EcoCash bulk payer lines, yesterday appeared in court for violating some sections of the Exchan...Published: 28 Sep 2021 at 06:11hrs | 2 | by Staff reporter
'Zimbabwean families struggling to buy food'
LEADING consumer bodies have confirmed that residents are experiencing decreased food levels in households on the back of the rising cost of living.This comes following a recent damning report...Published: 17 Sep 2021 at 06:19hrs | 2 | by Staff reporter
$243k Zupco Ecocash fraudster arrested
A BULAWAYO man was arrested for fraud after he allegedly swindled the Zimbabwe United Passengers Company (Zupco) of ZW$243 000 in an EcoCash deal. Pride Tinomuda Muzenda (28) of Nguboyenja sub...Published: 27 Aug 2021 at 06:32hrs | | by Staff reporter
Cops raid, steal US$41,000 from realtor
TWO serving members of the Zimbabwe Republic Police appeared at the Harare Magistrates' Court on Friday facing theft charges after they allegedly raided a project manager of an infrastructure developm...Published: 02 Sep 2019 at 07:55hrs | 1 | by Staff reporter
How Obert Mpofu acquired his wealth
A myth has been brewing across Zimbabwe which claims that Obert Mpofu corruptly acquired wealth while he was Minister of Mines and now owns half of Victoria Falls and half of Bulawayo. These old wives...Published: 29 Jun 2019 at 10:54hrs | 45 | by Nicholas Ncube
'Zanu-PF gave us army uniforms'
A Harare man has told a court that he got a military uniform he used to terrorise residents from the Zanu-PF headquarters in a case that might shed some light on recent disturbances that rocked the co...Published: 10 Feb 2019 at 06:16hrs | 2 | by Staff reporter
Zimbabwe currency confusion
The three-tier pricing system prevailing in the country is very confusing and frustrating, and is making the majority of people wonder if anyone really is in control of the economy. The government app...Published: 21 Dec 2018 at 10:52hrs | 2 | by Miriam T Majome
Zimbabwe teachers to boycott Zanu-PF businesses
Unions representing teachers are threatening to lobby their members to boycott businesses and products linked to the ruling Zanu-PF elites.Leaders of the country's biggest teachers' unions - t...Published: 23 Oct 2018 at 13:19hrs | | by Staff reporter
List of black market forex dealers circulating on social media
A list with 26 names including some high profile people alleged to be black market foreign currency dealers and cash suppliers has surfaced on social media.There are reports that local commerc...Published: 15 Oct 2018 at 14:59hrs | | by Staff reporter
'MDC supporters a bunch of hypocrites'
A social and political commentator Jephias Gwashavanhu has described MDC supporters as a bunch of hypocrites saying they were silent when the Econet was all along taxing them and now they want to make...Published: 07 Oct 2018 at 08:35hrs | 13 | by Stephen Jakes
Prices spike over Mthuli Ncube's new tax plan
PRICES shot up by up to 10% yesterday, as suppliers and manufacturers reacted to the introduction of a 2% tax on money transfer transactions by new Finance minister, Mthuli Ncube in a move that could ...Published: 03 Oct 2018 at 07:25hrs | | by Staff reporter
Govt goes after businesses as cash crisis gnaws
The Zimbabwe Anti-Corruption Commission (Zacc) has threatened to go after businesses that do not bank cash proceeds as well as financial institutions that allegedly channel cash into the informal sect...Published: 06 Sep 2018 at 07:02hrs | 1 | by Staff reporter
Banks increase withdrawals to $100
DEPOSITORS smiled all the way to banks on Monday and yesterday as banks in Bulawayo offered more cash withdrawals of up to $100, both bond notes and United States dollars.Yesterday, scores of ...Published: 25 Jul 2018 at 07:16hrs | | by Staff reporter
Cash dealers slash exchange rate
CASH dealers are selling bond notes at a premium rate of 22% to buyers using EcoCash in the high-density Harare suburb of Mbare, which is the lowest rate on offer thus far.In a snap survey con...Published: 23 Jul 2018 at 07:01hrs | | 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
Continuous importation of forex fuels Zimbabwe blackmarket
ANALYSTS agree that the continuous importation of hard cash into the economy will not improve the prevailing cash shortages in the country, but further fuel the parallel market.This comes as R...Published: 11 Jul 2018 at 07:20hrs | | by Staff rpeorter
Losing Zanu-PF MPs in rebellion
Zanu-PF legislators who lost in the recently-held primary polls are becoming rebellious in their attitude in the National Assembly which could force the ruling party to rely on the whip system to push...Published: 15 May 2018 at 07:22hrs | | by Staff reporter
Zanu-PF MPs revolt over cash shortages
ZANU PF MPs yesterday blasted Finance minister Patrick Chinamasa for being evasive over the unending cash crisis and his failure to rein in illegal money changers.Zanu PF legislators, most of ...Published: 10 May 2018 at 07:16hrs | | by Staff reporter
Mnangagwa fails to 'coup' cash crisis
Cash shortages in Zimbabwe have persisted more than a month after the new administration led by President Emmerson Mnangagwa assumed power.A snap survey last week by Standardbusiness establish...Published: 21 Jan 2018 at 11:19hrs | 2 | by staff reporter
Fake bond notes on streets
Zimbabwe's money market has been hit by counterfeit bond notes largely found on the parallel market where unscrupulous cash dealers are preying on unsuspecting cash seekers.The prevalence of t...Published: 17 Dec 2017 at 07:20hrs | 1 | by Staff reporter
Govt to arrest cash shortages, says Mnangagwa
PRESIDENT Emmerson Mnangagwa has promised to arrest the ongoing cash shortages which have seen most citizens relying on the parallel market to get hard cash.The President said this on Friday i...Published: 28 Nov 2017 at 05:01hrs | | by Staff reporter
Trial date for bribe-taking cops set
The trial date of five police officers accused of demanding and receiving a $200 bribe from an illegal foreign currency dealer for them not to seize her money during a blitz on illegal cash dealers wa...Published: 08 Nov 2017 at 05:30hrs | | by Staff reporter
Bond notes in free fall as US$ premiums rise
Premiums on the United States dollars have risen to 70% on the back of increased demand from companies sourcing foreign currency from the parallel market amid fears the continued depreciation of the b...Published: 05 Nov 2017 at 08:02hrs | | by Staff reporter
'Illicit cash dealings sabotage economy'
ZIMBABWE would not be having any cash shortages if individuals and businesses were depositing their money in banks for equitable circulation, Reserve Bank of Zimbabwe (RBZ) Deputy Governor, Dr Khupuki...Published: 30 Oct 2017 at 04:53hrs | | by Staff reporter
Elite cops shoot, kill notorious armed robber
A CRACK police team shot and killed a notorious armed robber and arrested four others in connection with a spate of armed robberies around Beitbridge town and illegal crossings along the Limpopo River...Published: 17 Oct 2017 at 05:41hrs | | by Staff Reporter
$60,000 seized from cash dealers in police blitz
THREE Chinese nationals and 19 illegal money changers have been arrested in Harare since the gazetting of regulations criminalising cash vending with police recovering $55 000 worth of bond notes, US$...Published: 05 Oct 2017 at 06:45hrs | | 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
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
ZimSwitch allays ZIPIT fears
INTERBANK transaction processor, ZimSwitch, has allayed fears the Zimswitch Instant Payment Interchange Technology (ZIPIT) had been suspended or scrapped after the application went offline for the bet...Published: 25 Sep 2017 at 23:26hrs | | by Staff reporter
Chinamasa grilled over illegal cash dealers
Finance and Economic Development Minister Patrick Chinamasa was yesterday taken to task by legislators over Government's inaction on the illegal sale of scarce cash on the black market.Members...Published: 21 Sep 2017 at 06:20hrs | | by Staff reporter
'Bond note loses half its value'
The value of bond notes has gone down by more than 50% on the parallel market, showing rising inflation remains on course a local financial research firm has revealed.Research firm, IH Securit...Published: 12 Sep 2017 at 08:15hrs | | by Staff reporter
Citizens demand government to arrest Osiphatheleni (street money changers)
As the cash crisis continues to bite in Zimbabwe, the struggling citizens have called on the police and government to arrest illegal money changers who are continuing to increase in number and are see...Published: 10 Sep 2017 at 11:31hrs | | by Stephen Jakes
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
Mangudya warns bankers
THE Reserve Bank of Zimbabwe (RBZ) has warned bankers against conniving with cash dealers, as reports of bank officials getting involved in the parallel market continue to rise.RBZ governor, J...Published: 21 Jul 2017 at 08:48hrs | | by Staff reporter
Tricksters target money changers, cash dealers
POLICE in Bulawayo have warned residents who buy and sell cash that they are now targets of fraudsters and robbers.Residents are buying cash and are charged interest of between 10 and 20 perce...Published: 13 Jul 2017 at 07:20hrs | | by Staff reporter
Swipe machines replace cash for lobola payments
JORDAN Mbanga (35) still has memories of how he left $3 500 cash in the hands of his in-laws on that Friday night in Bikita.It was in 2012, when he and his friend moved around the tuckshops in...Published: 27 May 2017 at 09:02hrs | 1 | by Staff reporter
Zimbabwe cash crisis escalates
Zimbabwe's prevailing cash crisis has escalated, with queues visible at many banking halls in Harare, a survey has shown.Reserve Bank of Zimbabwe (RBZ) governor John Mangudya has said queues f...Published: 14 May 2017 at 15:43hrs | | by Staff reporter
Vendors demand arrest of osiphatheleni
BULAWAYO Vendors and Traders' Association (BVTA) has rapped the government and local authorities for clamping down on its members, while illegal cash dealers are left to operate freely on street corne...Published: 02 May 2017 at 06:41hrs | 1 | by Staff reporter
RBZ battles long foreign payment queues
PROCUREMENT of imported raw materials and capital equipment has become a nightmare for most companies as the Reserve Bank of Zimbabwe (RBZ) battles long foreign payment queues, an official has...Published: 21 Apr 2017 at 06:32hrs | | by Staff reporter
RBZ's cash-back headache
A directive by the Reserve Bank of Zimbabwe (RBZ) for retailers to cap cash-back facilities at $20 a day will not resolve the cash crisis, analysts said on Friday, advocating the introduction ...Published: 16 Apr 2017 at 17:40hrs | 2 | by Staff reporter
Zimbabwe's illegal currency dealers go high-tech
Forget the so-called World Bank along Bulawayo's Fort Street or Road Port in Harare, Zimbabwe's infamous illegal cash dealers have gone high tech.The two places were notorious for illegal ...Published: 20 Nov 2016 at 12:48hrs | 1 | by Staff reporter
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