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Zimbabwe banks, service providers successfully configure systems, processes to ZiG
OVER 90 percent of banking institutions and mobile bank service providers have successfully configured their systems and processes in line with the new monetary policy guidelines, paving the way for s...Published: 11 Apr 2024 at 08:39hrs | 1 | by Staff reporter
Zimbabwe's structured currency launch on Friday
IN a bid to address currency volatility and exchange rate-driven inflation badly battering the economy amid arbitrage, the Zimbabwean government will next week launch a "structured currency" which the...Published: 31 Mar 2024 at 20:50hrs | | by Staff reporter
Zimdollar future hangs in the balance
IT is imperative for every successful and expanding economy in the world to have its own currency and monetary policy. I make that statement because it is important for all Zimbabweans to understand t...Published: 12 Sep 2023 at 06:33hrs | | by Eddie Cross
'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 Ncube's shop raids a publicity stunt'
ECONOMISTS have described Finance minister Mthuli Ncube's weekend raids on retail shops to check on pricing of basic commodities as a publicity stunt after failing to tame the country's runaway inflat...Published: 30 May 2023 at 06:48hrs | 2 | by Staff reporter
Public confidence in Zimdollar keeps waning, no end in sight
THE revelation by Reserve Bank of Zimbabwe (RBZ) governor John Mangudya that the widening gap between the official and parallel foreign currency exchange rates is due to locals preferring the greenbac...Published: 27 Aug 2021 at 06:37hrs | 1 | by Staff reporter
'Worn out US dollar notes notes acceptable'
BADLY damaged, dirty or even torn United States dollar notes remain valid for all transactions and can be exchanged as legal tender. This comes as some businesses and individuals have been rej...Published: 22 Sep 2020 at 06:27hrs | | by Staff reporter
Mugabe striking terribly hard in death
LAST week marked the first anniversary of the death of Robert Gabriel Mugabe, independent Zimbabwe's first president. Arguably one of the world's most shrewd and controversial politicians, the "larger...Published: 11 Sep 2020 at 07:18hrs | | by Staff reporter
Mthuli Ncube's 'illegal' budget causes chaos in parliament
THERE was chaos and drama in Parliament yesterday as tempers flared when Finance minister Mthuli Ncube and Justice minister Ziyambi Ziyambi ignored issues raised by opposition MDC Alliance MPs and Nor...Published: 09 Aug 2019 at 07:31hrs | | by Staff reporter
Mthuli Ncube's quotes on currency reforms . . .
"Replacing the multi-currency regime anchored in the United States dollar by the South African rand as the sole transaction currency would help reduce over-valuation and stimulate exports and growth. ...Published: 01 Jul 2019 at 08:13hrs | 1 | by Lisa Tazviinga
MDC to ramp up pressure on Mnangagwa
MAIN opposition MDC yesterday said it would be upping the ante against the Zanu-PF-led government both on the foreign and local fronts to ensure that Zimbabwe gets out of the current political problem...Published: 26 Jun 2019 at 16:36hrs | 1 | by Staff reporter
Bright Matonga in court for fraud
FORMER Information deputy minister Bright Matonga appeared in court yesterday facing charges of duping a Malawian national of US$10 000 in a botched deal to supply demonetised Zimbabwe trillion dollar...Published: 29 May 2019 at 08:02hrs | | by Staff reporter
Mystery over Mangudya's new contract'
The fate of Reserve Bank of Zimbabwe (RBZ) governor John Mangudya's stay in office remains a mystery after his first term lapsed on Tuesday amid indications that government is yet to extend his contra...Published: 02 May 2019 at 11:13hrs | 8 | by Staff reporter
Councillors reject water disconnections as debt recovery strategy
BULAWAYO City councillors have rejected a proposal by the finance department to resume water disconnections as a debt recovery strategy citing the prevailing socio economic challenges faced by residen...Published: 11 Apr 2019 at 07:11hrs | | by Staff reporter
Zimbabwe urgently needs own currency
THE drive for Zimbabwe to have its own currency is understandably gain-ing traction, particularly given the aberrations of price increases, multi-tier pricing and foreign currency shortages on the loc...Published: 17 Feb 2019 at 18:44hrs | | by Edmore Ndudzo
Mukupe pushes for Zimdollar return
Former deputy Finance minister Terence Mukupe, said without reintroducing local currency and having a serious reengagement with the United States of America (USA) the country will continue to suffer....Published: 12 Jan 2019 at 17:33hrs | | by Staff reporter
A timeline of how Zimbabwe lost its currency
Today, November 14, marks the 21st anniversary of "Black Friday", the day the Zimbabwe dollar crashed in 1997.We track the Zimdollar's collapse from that fateful November day, and the many des...Published: 14 Nov 2018 at 15:10hrs | 4 | by newZwire with The Source
'Rushed currency reform could harm Zimbabwe economy'
Rushing to implement currency reforms without sufficient stocks of foreign currency to back up the transition would have serious adverse effects on Zimbabwe's economy, which would cause suffering of c...Published: 09 Nov 2018 at 06:22hrs | | by Staff reporter
CDC concerned about Zimbabwe's currency issues
The Commonwealth Development Corporation (CDC) has expressed concern over Zimbabwe's currency situation after Treasury resolved tax compliance issues around a long-delayed $100m loan that was extended...Published: 28 Oct 2018 at 21:20hrs | | by Staff reporter
Mangudya says demonetised Zim dollar notes not for sale
The Reserve Bank of Zimbabwe (RBZ) says it has come to its attention that there are certain persons who are purportedly buying or selling, or trading in, demonetised Zimbabwe dollar notes in and outsi...Published: 26 Oct 2018 at 16:16hrs | | by Staff Reporter
Zimbabwe businesses rejects bond note
PANICKY retailers and suppliers yesterday started rejecting the surrogate bond note currency or electronic transfers after its value collapsed on Zimbabwe's active black market, demanding, instead, to...Published: 11 Oct 2018 at 06:50hrs | | by Staff reporter
How the Zimbabwe govt stole from its people, again
THERE is a scene in the 1978 classic movie, The Great Train Robbery, which portrays the destructive arrogance of Zimbabwe's monetary policy over the past two decades.After masterminding a gold...Published: 11 Oct 2018 at 06:41hrs | | by newZWire
Mthuli Ncube makes another abrupt U-Turn
Finance and Economic Development Minister Mthuli Ncube has said that Government remains committed to preserve the value of RTGS deposits at the current exchange rate of 1 to 1. This he said is being d...Published: 10 Oct 2018 at 10:27hrs | | by Ndou Paul
Zimbabwe economy is self-dollarising, says Mthuli Ncube
THE Minister of Finance and Economic Development, Professor Mthuli Ncube, has said developments in the currency market in Zimbabwe are an indicator that the economy is "self dollarising" in response t...Published: 10 Oct 2018 at 06:27hrs | | by Staff reporter
Bond notes not equal to US dollar, says Mthuli Ncube
FINANCE minister Mthuli Ncube has admitted that the country's surrogate bond note is not equal to the United States dollar, contradicting earlier government pronouncements on the currency.The ...Published: 09 Oct 2018 at 07:02hrs | 2 | by Staff reporter
Zimbabwe's currency options
IT goes without saying that pursuant to the adoption of the multi-currency system in Zimbabwe in January 2009 until about 2015, one could withdraw up to US$5 000 from an automated teller machine. Over...Published: 24 Sep 2018 at 07:28hrs | 9 | by Colls Ndlovu, Economist
Bond notes u-turn gets thumps up
Economists have welcomed both President Emmerson Mnangagwa and new Finance minister Mthuli Ncube's move to rule out the immediate return of the decommissioned Zimbabwe dollar. This comes...Published: 20 Sep 2018 at 07:43hrs | | by Staff reporter
Mthuli Ncube directs all traders to accept bond notes
Finance and Economic Development Minister Professor Mthuli Ncube has directed all traders to accept bond notes as they remain legal tender in the country. This comes as some unscrupulous whole...Published: 20 Sep 2018 at 06:27hrs | | by Staff reporter
All eyes on Mnangagwa's new Cabinet
THE new Cabinet will be sworn-in at Sate House today with Zimbabweans across the political divide optimistic that President Emmerson Mnangagwa's new 20-member team will immediately hit the ground runn...Published: 10 Sep 2018 at 06:51hrs | | 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
Chamisa to scrap bond notes
MDC Alliance presidential candidate Nelson Chamisa has said his administration will bring an end to cash shortages and scrap bond notes once elected into office.He told a campaign rally in Vic...Published: 13 Mar 2018 at 11:34hrs | | by Staff reporter
Mnangagwa speaks on local currency
GOVERNMENT is working around the clock to address key macro-economic fundamentals, which will pave way for the introduction of a currency that is not collapsible, President Emmerson Mnangagwa has said...Published: 26 Jan 2018 at 06:07hrs | | by Staff reporter
'Brace for Zimdollar return'
President Emmerson Mnangagwa's government will soon reintroduce the Zimbabwean dollar which will be anchored by international goodwill, Special Advisor to the President Chris Mutsvangwa has said....Published: 08 Dec 2017 at 12:29hrs | | by Staff reporter
Bond notes have driven away good money from the formal market
A WEAK currency is the sign of a weak economy, and a weak economy leads to a weak nation, American business magnate Ross Perot once said.Zimbabwean depositors have watched helplessly as their ...Published: 29 Nov 2017 at 05:14hrs | | by Staff reporter
Zimdollar payouts haunts Old Mutual
Old Mutual faces its first major challenge from a policyholder over its very low post-hyperinflation payouts as the London-listed giant has been served with summons by a Harare veterinarian surgeo...Published: 27 Mar 2017 at 06:42hrs | | by The Herald
Zimbabwe industry to push for adoption of Rand
THE Confederation of Zimbabwe Industries will approach Government with draft legislation to push for the adoption of the South African rand over the US dollar as the main transacting currency....Published: 27 Jan 2017 at 05:51hrs | | by Staff reporter
Residents grill MPs over bond notes
Gwanda residents have grilled the legislators who visited the mining town in Reserve Bank and Procurement laws consultation over the introduction of bond notes.The residents Association spokes...Published: 03 Dec 2016 at 07:28hrs | 60 | by Stephen Jakes
Zimbabwe Bond notes: Key questions answered
The Reserve Bank of Zimbabwe has announced plans to introduce local "bond notes" to circulate alongside a basket of foreign currencies adopted in 2009, in a bid to ease widespread cash shortages stalk...Published: 06 May 2016 at 08:34hrs | | by Staff reporter
Banks pay out $7m in Zimdollar compensation
Banks have paid out about $7,2 million in compensation for the demonetised Zimbabwean dollar, figures from the Ministry of Finance and Economic Development show. The demonetisation process...Published: 11 Dec 2015 at 06:51hrs | | by Staff reporter
'Family' scramble for Nkomo's pension
MORE than 10 years after the death of national hero and former Matabeleland South Governor Stephen Jeqe Nyongolo Nkomo, his children and three women who are alleging to be customary wives to the l...Published: 05 Apr 2015 at 07:05hrs | | by Staff Reporter
The $5 question
FINALLY Government through the Reserve Bank of Zimbabwe has brought finality to the issue of the Zim dollar that was stashed in people's accounts since 2009 when the country migrated to the use of for...Published: 15 Feb 2015 at 09:10hrs | | by Gabriel Masvora
Zimbabwean banks ignoring social media at their own peril
IN EUROPE and America, right now, bankers are the people everyone wants to hate. These so-called masters of the universe drew the ire of the public as their ‘voodoo' banking practises saw them thro...Published: 18 Jan 2015 at 15:06hrs | | by Perry Munzwembiri
Bond coins or not there is just no going back
February 2015 will mark six years since Zimbabwe adopted the multi-currency monetary system, commonly referred to as dollarization. The move was in response to the chaotic hyperinflationary period tha...Published: 05 Jan 2015 at 10:45hrs | | by Perry Munzwembiri
Can Zimbabweans trust economic policies?
Since independence in 1980, Zimbabwe has implemented numerous economic policies.Each policy served a particular purpose in the post-independence economic history of the country.The lat...Published: 20 Oct 2014 at 19:41hrs | | by Nesbert Ruwo
Mliswa says he will repay RBZ debt in Zimdollars
Under fire Zanu-PF Mashonaland West provincial chairperson-cum-businessman, Temba Mliswa, who reportedly owes the Reserve Bank of Zimbabwe (RBZ) $12,5 million, wants to repay the debt using the count...Published: 02 Apr 2014 at 13:05hrs | 8 | by Staff reporter
Zimdollar account holders to be compensated
Zimbabweans who lost their Zimdollar savings will be compensated next year as $20 million would be availed to financial institutions, Finance Minister Patrick Chinamasa revealed yesterday during his 2...Published: 20 Dec 2013 at 10:42hrs | | by Business reporter
Zim govt should remove 75 000 ghost workers from its payroll: Bloch
Eric Bloch says government's fiscal pronouncements do not aid economic recovery and are actually an impediment.Although Finance Minister Tendai Biti had identified some of the key challenges c...Published: 10 Aug 2011 at 06:35hrs | | by
Don't attempt to use the Interfin ZimDollar ATM
THE "controversial" Interfin Bank Limited (Interfin) Automated Teller Machine (ATM) has been cordoned off from customers.The Interfin ATM machine is situated along Samora Machel Avenue, at th...Published: 26 Apr 2011 at 17:34hrs | | by Mafu Sithabile
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