Search / Dollarisation
Blame game between govt, banks reaches tipping point
A NIGHT of long knives beckons for banks after Finance minister Mthuli Ncube accused them of driving the parallel market rate up, causing the sharp tumbling of the local currency.President Emm...Published: 19 hrs ago | 1275 | by Staff reporter
Zimdollar, US dollar use to stay
FINANCE and Economic Development Minister, Professor Mthuli Ncube, has encouraged Zimbabweans to use both the Zimbabwe dollar and United States dollar as the country transitions towards adoption of a ...Published: 22 May 2022 at 08:27hrs | 149 | by Staff reporter
'Zimbabwe Reserve Bank is not creating money'
The Sunday Mail Editor Victoria Ruzvidzo (VR) had a no-holds-barred interview with RBZ Governor Dr John Mangudya (JM) on the latest developments in the economy, among them suspension of bank lending, ...Published: 22 May 2022 at 08:26hrs | 152 | by Staff reporter
Basics run out of Zimbabwe shelves
PRESIDENT Emmerson Mnangagwa and Finance minister Mthuli Ncube's recent economic pronouncements have reportedly triggered a shortage of most locally-manufactured basic commodities in most retail shops...Published: 16 May 2022 at 06:26hrs | 5327 | by Staff reporter
Mnangagwa panicking over Zimdollar
President Emmerson Mnangagwa has been summoning business owners his government believes are manipulating the Zimbabwe dollar to fuel anger over his rule amid growing fears an economic implosion could ...Published: 15 May 2022 at 06:14hrs | 3742 | by Staff reporter
Zimdollar, US dollar use to stay
FINANCE and Economic Development Minister, Professor Mthuli Ncube, has encouraged Zimbabweans to use both the Zimbabwe dollar and United States dollar as the country transitions towards adoption of a ...Published: 15 May 2022 at 06:12hrs | 683 | by Staff reporter
'The Reserve Bank is not creating money'
The Sunday Mail Editor Victoria Ruzvidzo (VR) had a no-holds-barred interview with RBZ Governor Dr John Mangudya (JM) on the latest developments in the economy, among them suspension of bank lending, ...Published: 15 May 2022 at 06:12hrs | 304 | 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 | 392 | 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 | 110 | 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 | 1131 | by Staff Reporter
Professor Ncube says lending ban to prick the bubble
The ban on bank lending announced by President Mnangagwa at the weekend to ward off attacks on the Zimbabwe dollar, stabilise the exchange rate and rein in on rising inflation, is only a temporary mea...Published: 12 May 2022 at 06:27hrs | 375 | by Staff reporter
Dollar o'clock: Should Zimbabwe axe its faltering currency again?
IN early 2019, Zimbabwe's central bank announced plans to bring back the Zimbabwe dollar as legal tender after a decade of using the US dollar and seven other international currencies because raging h...Published: 11 May 2022 at 09:11hrs | 406 | by Staff reporter
'Mnangagwa's govt killing Zimdollar'
GOVERNMENT'S short-term financing mechanisms to fund its programmes are the major contributors to the depreciation of the local currency, the Zimbabwe National Chamber of Commerce (ZNCC) has noted....Published: 10 May 2022 at 07:46hrs | 907 | by Staff reporter
Polad pushes for currency crisis indaba
CHAIRPERSON of the Political Actors Dialogue (Polad)'s economic thematic committee Trust Chikohora has called for an urgent currency crisis meeting before the economy implodes.Chikohora, who i...Published: 07 May 2022 at 06:19hrs | 674 | by Staff reporter
Zimdollar under attack from saboteurs
THE sharp decline in the value of the Zimbabwean dollar is a result of a sustained onslaught on the currency by economic saboteurs, President Emmerson Mnangagwa's government has claimed.Respon...Published: 05 May 2022 at 18:43hrs | 642 | by Staff reporter
'Zimbabwe has $28 billion reserve money' Mnangagwa says
Zimbabwe has ZWL28 billion in reserve money, President Emmerson Mnangagwa has said. The President made the revelations through an OP-ED that was published in the state-owned Sunday Mail yesterday. ...Published: 02 May 2022 at 10:06hrs | 4011 | by Mandla Ndlovu
Business community must be economic actors
IT is a fact that Zimbabwe is in a mess.The fuel and basic commodities' prices are adjusted on a daily or weekly basis.Inflation is at its all-time high in the post dollarisation...Published: 02 May 2022 at 08:02hrs | 61 | by Chief Chiduku
'Measures to defend Zimdollar soon'
Government will soon announce a raft of measures to stabilise and defend the Zimbabwe dollar against emerging inflationary pressures, some of which are unwarranted as the economy is relatively in good...Published: 01 May 2022 at 11:10hrs | 213 | by Staff reporter
'Zimdollar volatility makes no sense'
The Reserve Bank of Zimbabwe (RBZ) believes disproportionate demand for the US dollar and lingering fears of hyperinflation are driving exchange rate volatility, as the country's currency should ordin...Published: 01 May 2022 at 11:05hrs | 202 | by Staff reporter
Chamisa tells Mnangagwa to throw away the Zimdollar
OPPOSITION Citizens Coalition for Change (CCC) leader Nelson Chamisa yesterday told President Emmerson Mnangagwa to throw away the Zimbabwe dollar as a matter of urgency."Stop the auction syst...Published: 30 Apr 2022 at 16:25hrs | 801 | by Staff reporter
Chamisa advises government on solving economic crisis
CCC President Nelson has called upon government to abolish the auction system and go for full dollarization in order to stop multiple pricing and bring stability in the market. In a Twitter th...Published: 29 Apr 2022 at 08:46hrs | 4837 | by Mandla Ndlovu
'Zimbabwe won't rush to mono-currency regime'
THE Reserve Bank of Zimbabwe (RBZ) has given assurances that there will be no rushed exclusive adoption of either the Zimbabwe dollar or US dollar currency regime.This was revealed by the Conf...Published: 28 Apr 2022 at 08:55hrs | 182 | by Staff reporter
Zimbabwe must abandon use of US$ immediately
ECONOMIST Eddie Cross, believes the best way to stabilise the prices of basic goods in the country and spur development is to end the use of the United States dollar in the economy. Speaking on 3Ktv p...Published: 27 Apr 2022 at 12:57hrs | 767 | by Staff reporter
John Mangudya and CZI kiss and make up
In its position paper on the sensitive issue leaked to the media on Friday, CZI called on the Reserve Bank of Zimbabwe (RBZ) to suspend the foreign currency auction system after the Zimdollar fell to ...Published: 27 Apr 2022 at 11:39hrs | 844 | by Mandla Ndlovu
CZI hits back at Mangundya over Zimdollar crisis
THE Confederation of Zimbabwe Industries (CZI) has hit back at Reserve Bank of Zimbabwe (RBZ) governor John Mangudya's suggestion that their position on the crumbling local currency was misinformed....Published: 25 Apr 2022 at 09:18hrs | 1426 | by Staff reporter
Zimdollar use no longer viable
ZIMBABWE'S largest business group has warned that the economy faces collapse if the government insists on foisting the rapidly weakening local currency on the market when it is obvious that it is no l...Published: 25 Apr 2022 at 09:04hrs | 1724 | by Staff reporter
RBZ rubishes CZI claims
THE Reserve Bank of Zimbabwe (RBZ) has dismissed calls by the Confederation of Zimbabwe Industries (CZI) for the suspension of the official foreign exchange auction system and scoffed at claims that t...Published: 25 Apr 2022 at 08:48hrs | 157 | by Staff reporter
SA must protect foreign nationals within its borders
IT is now almost two weeks after the murder of Zimbabwean Elvis Nyathi in South Africa, whose only crime was being an undocumented foreigner.The murder of foreign nationals, especially Zimbabw...Published: 20 Apr 2022 at 08:10hrs | 302 | by CiZC
Official dollarisation unlikely, says OM
DIVERSIFIED financial services group Old Mutual Investment believes an official dollarisation of the local economy is "unlikely in the near term" despite current factors pointing towards that directio...Published: 20 Apr 2022 at 08:09hrs | 700 | by Staff reporter
Action, not rhetoric, Sir
DEAR President Emmerson MnangagwaYour Excellency, if truth be told, Zimbabwe ought not have been in a persistent vegetative state. She was the jewel of Africa at independence in 1980. Yet, eve...Published: 13 Apr 2022 at 06:41hrs | 379 | by Cyprian M Ndawana
RBZ acts on inflation, interest rates
THE Reserve Bank of Zimbabwe (RBZ) yesterday moved to curtail resurgent price increases (inflation) in the economy and stabilise the volatile parallel market exchange rate after its Monetary Policy Co...Published: 05 Apr 2022 at 06:43hrs | 531 | by Staff reporter
RBZ to double down in inflation fight
Reserve Bank of Zimbabwe (RBZ) will deploy various monetary tools at its disposal to stem out rampant "market indiscipline" that it believes is driving price increases.Market indiscipline, the...Published: 03 Apr 2022 at 08:20hrs | 189 | by Staff reporter
People have lost confidence in Zimdollar, says Minister
GOVERNMENT has all but admitted that Zimbabweans have lost confidence in the local currency, saying it was aware people were trooping to the black market to buy foreign currency to avoid a repeat of 2...Published: 19 Mar 2022 at 06:48hrs | 714 | by Staff reporter
Mthuli Ncube rules out US$ dollar payment to farmers
FINANCE minister Mthuli Ncube has ruled out paying farmers in United States dollars for maize deliveries, but said there were exceptions for those growing export-oriented cropsThere are wider ...Published: 18 Mar 2022 at 05:38hrs | 748 | by Staf reporter
Currency: The long road of pain awaiting Zimbabwe
IN June 2019, the Zimbabwe dollar was officially reintroduced as the main legal tender for domestic transactions in the country amid scepticism from the general public concerning its sustainability. T...Published: 17 Mar 2022 at 05:49hrs | 1165 | by Staff reporter
Economy expected to grow despite erratic rains
Old Mutual Investment Group believes Zimbabwe's economy may still register strong growth this year despite the erratic rains experienced in the country, which negatively affected farming.The i...Published: 16 Mar 2022 at 05:31hrs | 80 | by Staff reporter
Inflation triggers job carnage
A TOTAL of 314 304 jobs were lost during the fourth quarter of last year after the country experienced high inflation levels, leaving employers with no choice, but to downsize, the Zimbabwe National S...Published: 08 Mar 2022 at 05:47hrs | 547 | by Staff reporter
'Schweppes selling mostly in Zimdollars'
Beverages maker, Schweppes Zimbabwe, says the bulk of its domestic market sales are being conducted in local currency while US dollars constitute only a small portion.Chief executive Mr Charle...Published: 08 Mar 2022 at 05:39hrs | 113 | by Staff reporter
Mine workers scoff at 50% salary hike
THE Zimbabwe Diamond and Allied Minerals Workers Union (ZDAMWU) has rejected a 50% salary offer tabled by mining companies as a pittance, and insisted on United States dollar salaries.In a sta...Published: 05 Mar 2022 at 08:18hrs | 254 | by Staff reporter
'No US dollar comeback'
Government will not re-dollarise the economy because it's not possible to grow it riding on other economies currencies, Finance and Economic Development Minister, Professor Mthuli Ncube said yesterday...Published: 05 Mar 2022 at 08:14hrs | 324 | by Staff reporter
ZCTU will lobby for US dollar salaries
FLORENCE TARUVINGA (FT), broke the glass ceiling when she was elected Zimbabwe Congress of Trade Unions (ZCTU) president in October, beating Peter Mutasa after polling 73 votes to his 59, thereby beco...Published: 04 Mar 2022 at 06:35hrs | 1108 | by Staff reporter
RBZ clears US$200m auction forex backlog
The Reserve Bank of Zimbabwe (RBZ) says it has cleared the nearly US$200 million ring-fenced foreign currency backlog on the auction system.Governor, Dr John Mangudya said in an interview that...Published: 28 Feb 2022 at 05:18hrs | 165 | by Staff reporter
Full Zimdollar return by 2027
THE Reserve Bank of Zimbabwe (RBZ) predicted yesterday that the domestic currency would completely run the economy in five years' time, with only pockets of the United States dollar complementing it....Published: 25 Feb 2022 at 07:41hrs | 3306 | by Staff reporter
Ncube rules out dollarisation
FINANCE minister Mthuli Ncube has ruled out dollarisation even as the situation on the ground shows that the economy is self-dollarising as the local currency slides and prices of basic goods and serv...Published: 25 Feb 2022 at 07:20hrs | 267 | by Staff reporter
Zimdollar velocity drives demand, says RBZ
The Reserve Bank of Zimbabwe (RBZ) says higher velocity of local currency (frequency money is used to pay domestically) in the economy has stimulated demand for goods and services.The central ...Published: 25 Feb 2022 at 05:44hrs | 999 | by Staff reporter
Zimbabwe will not dollarise, says Prof Ncube
GOVERNMENT has reiterated that it will not dollarise the economy, brushing off demands from various sectors for it to do so in the face of the weakening local currency.Zimbabwe re-introduced i...Published: 25 Feb 2022 at 05:42hrs | 588 | by Staff reporter
'Elections will force Zimbabwe to re-dollarise'
WHILE calls for dollarisation seem to be falling on deaf ears, an economics expert has predicted that government will give in to pressure and officially re-introduce the US dollar.Great Zimbab...Published: 24 Feb 2022 at 05:45hrs | 2968 | by Staff reporter
Zimbabwe rules out US dollar return
VICE President Constantino Chiwenga has declared Zimbabwe will never revert to the dollarisation era despite evidence the Zimdollar is sharply weakening.Economists have even warned the local c...Published: 21 Feb 2022 at 05:37hrs | 1616 | by Staff reporter
MPs echo US-dollar salary demands
LEGISLATORS have joined the call for adoption of United States dollar salaries in a vote of no confidence in the local currency, a development government said wasdisheartening.Public and p...Published: 19 Feb 2022 at 18:34hrs | 613 | by Staff reporter
Mthuli Ncube to headline CZI conference
FINANCE minister Mthuli Ncube is set to headline the Confederation of Zimbabwe Industries (CZI) annual economic outlook symposium next Thursday, which is expected to seek solutions to price hikes and ...Published: 11 Feb 2022 at 05:46hrs | 246 | by Staff reporter
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