Search / Dollarisation
Zimbabwean law to criminalise redollarisation on the cards
Government will make use of the United States dollar illegal and plans punitive penalties for offenders under a proposed law as it seeks to shore up support for the local currency.Since the re...Published: 10 Dec 2019 at 07:15hrs | 2564 | by Staff reporter
Mnangagwa faces ZANU PF Conference price headache
The President heads to a ZANU PF National Conference where the issue of prices is set to take centre stage as prices affect the proverbial bread and butter issues.The President will have addre...Published: 29 Nov 2019 at 06:12hrs | 6819 | by Nicholas Ncube
Mnangagwa to order importers to declare forex sourcing
Zimbabwe will force importers to declare sources of foreign currency and those who fail to prove they obtained the money from banks will forfeit their goods to the state, a government official said on...Published: 22 Nov 2019 at 17:59hrs | 338 | by Reuters
Civil servants demand interbank-rated salaries
Labour unions have said civil servants' bonuses have already been eroded by inflation and urged government to urgently pay their salaries at the prevailing interbank rate.Their demand comes af...Published: 21 Nov 2019 at 21:09hrs | 1878 | by Staff reporter
Nothing hopeful about Chamisa's HONA
The much hyped, but shallow, so called ‘Hope of The Nation Address', (HONA) by opposition leader, Nelson Chamisa had nothing new in it that Zimbabweans could actually hold on to, and believe t...Published: 21 Nov 2019 at 14:50hrs | 2451 | by Sibusiso Ndlamini
Zimbabwe, global de-dollarisation case study - Prof Ncube
Zimbabwe is undergoing a de-dollarisation process that very few countries have successfully implemented and will need time to address the lingering effects of dollarisation, Finance and Economic Devel...Published: 18 Nov 2019 at 06:32hrs | 959 | by Staff reporter
Mnangagwa's govt draws fire over currency
The government has been accused of fuelling economic instability through inconsistent currency reforms and too many regulations.Zimbabwe ended a decade of dollarisation in June and readopted t...Published: 10 Nov 2019 at 08:52hrs | 2841 | by Staff reporter
Mnangagwa ally lays into minister
A Zanu-PF youth leader has accused a deputy minister of sabotaging President Emmerson Mnangagwa's economic reforms by refusing to embrace the local currency, in yet another sign of widening rifts in t...Published: 03 Nov 2019 at 06:55hrs | 2774 | by Staff reporter
New Zimbabwe $2, $5 notes identity revealed
The government has gazetted the features of the new Zimbabwe dollar notes that are expected to be injected into the system in the coming days.Reserve Bank of Zimbabwe (RBZ) governor John Mangu...Published: 03 Nov 2019 at 06:52hrs | 18005 | by Staff reporter
Mobile money brings hyperinflation back
Hyperinflation is making an unwanted return to Zimbabwe. We don't know how bad it is because the government has suspended publishing official figures until 2020. But an IMF mission to the country in A...Published: 30 Oct 2019 at 07:47hrs | 1754 | by Staff reporter
US$ ghost haunts Zimbabwe
ZIMBABWE remains stuck in the shackles of "dollarisation" despite the government's move to end the multicurrency system after a decade.On June 24, through SI 142 of 2019 also known as Reserve ...Published: 29 Oct 2019 at 19:58hrs | 2406 | by Staff reporter
Zimdollar to be pegged against SA rands
THE government is leaning towards pegging the Zimbabwe dollar currency to the South African rand, with Finance minister Mthuli Ncube saying this would make the local currency more competitive in the r...Published: 29 Oct 2019 at 07:01hrs | 12929 | by Staff reporter
'Zimbabwe risks redollarising'
Zimbabwe Ezekiel Guti University pro-vice chancellor Gift Mugano has said Zimbabwe risks going back to dollarisation in the first quarter of 2020 due to failure by the local currency to boost public c...Published: 22 Oct 2019 at 11:35hrs | 1446 | by Staff reporter
Mthuli Ncube's 2020 budget headache
Parliament says structuring next year's budget presents a serious headache as the imploding economy continues to be saddled by runaway inflation and skyrocketing prices stemming from currency volatili...Published: 22 Oct 2019 at 07:19hrs | 2818 | by Staff reporter
'Zimbabwe de-dollarisation is in tatters and with no political shift, no bailout' says expert
Most of us know that Zimbabwe is in serious economic and political trouble. It is only from reading expert analysis that one can start to comprehend the seriousness of our situation. Tony Hawkins a pr...Published: 21 Oct 2019 at 08:59hrs | 3634 | by Wilbert Mukori
No prospects of return to a multi-currency regime
ZIMBABWE'S central bank deputy governor Jesimen Chipika says the nation is grappling with symptomatic challenges instead of tackling structural problems in the economy as she that the multi-currency s...Published: 18 Oct 2019 at 05:32hrs | 518 | by Staff reporter
Zimbabwe-dollarisation impacts on the banking sector
COUNTRIES forced into dollarisation usually find it impossible to de-dollarise and Zimbabwe's mid-year efforts to do so adds another country to the long list of those that tried and failed.Gov...Published: 18 Oct 2019 at 05:29hrs | 233 | by Tony Hawkins
RBZ's currency policy doomed to fail
THE latest move by the Reserve Bank of Zimbabwe (RBZ) to manage the exchange rate yet again is another experiment doomed to fail as laws of supply and demand will prevail.Economists say Zimbab...Published: 18 Oct 2019 at 05:28hrs | 1811 | by Staff reporter
Zimdollar stability: The war is still on
THE war on currency stability is definitely not over. Those who are conversant with the economy often know exactly what I mean. Of course, in the first instance, the expectation of instant stability f...Published: 18 Oct 2019 at 05:25hrs | 145 | by Persistence Gwanyanya
Questions arising from Treasury's strategy paper
THREE official documents published in recent weeks paint a different, but fundamentally depressing pictures of Zimbabwe's economy. All pose more questions than answers, leaving readers to ponder the m...Published: 15 Oct 2019 at 06:54hrs | 791 | by Tony Hawkins
Chamisa warns of genocide
The health crisis entered a new and deadly phase on Thursday when nurses at Parirenyatwa Group of Hospitals – the country's biggest referral hospital – walked out of work, joining doctor...Published: 11 Oct 2019 at 11:34hrs | 3349 | by ZimLive
Storm brews over nostro accounts
THE Reserve Bank of Zimbabwe (RBZ)'s decision to tighten regulations on withdrawals of foreign currency by Zimbabweans who earn their salaries in foreign currency faces litigation, while analysts warn...Published: 07 Oct 2019 at 09:34hrs | 3163 | by Staff reporter
Command Agriculture facing financial challenges
LAST week, the Government of Zimbabwe announced that its Command Agriculture programme shall look to be financed by the banking sector. The country's planting season is already upon us. Field preparat...Published: 30 Sep 2019 at 16:53hrs | 71 | by Chris Chenga
Zimbabwe needs higher productivity and exports
Reserve Bank of Zimbabwe deputy governor Dr Jesimen Chipika emphasised to chartered secretaries meeting in Victoria Falls last week that the government's Transitional Stabilisation Programme is a two-...Published: 30 Sep 2019 at 15:01hrs | 266 | by Agencies
Zimdollar rout fuels volatility
WHEN government, in a surprise move in June, abruptly abolished the multi-currency system, which saved the country from the ravages of hyperinflation from 2009, we warned the move would only temporari...Published: 27 Sep 2019 at 07:38hrs | 334 | by Dumisani Muleya
Mangudya calls for price stability
Reserve Bank of Zimbabwe (RBZ) Governor Dr John Mangudya has called for price stability, adding that the practice of linking prices to foreign currency exchange rate developments was unacceptable in a...Published: 25 Sep 2019 at 06:43hrs | 1688 | by Staff reporter
Can the real MDC stand up?
"Don't tell me what you value, show me your budget and I'll tell you what you value," said former US Vice-President and 2020 presidential candidate Joe Biden.Biden uses this line frequently in...Published: 25 Sep 2019 at 06:26hrs | 358 | by Paidamoyo Muzulu
Doctors strike calls for urgent attention
The death of Robert Mugabe has taken the nation's focus away from very pressing issues, among them the strike by doctors at public hospitals.Doctors went on strike almost two weeks ago after f...Published: 15 Sep 2019 at 07:04hrs | 2360 | by Staff reporter
Let's be fair to Mugabe deeply flawed as he was
The death of Robert Mugabe, the only Executive Prime Minister and only Executive President that Zimbabwe had known since independence in 1980 until 2017 - all of 37 years - has shown that he was not a...Published: 13 Sep 2019 at 20:41hrs | 1302 | by Conway Tutani
Zimdollar plunges 79%
ZIMBABWE'S inflation-ravaged dollar has plunged 79% against the greenback since it was declared the sole legal tender on June 24, amid an acute foreign currency shortage and diminishing market confide...Published: 12 Sep 2019 at 20:03hrs | 1076 | by Staff reporter
Zimdollar rates tumble ahead of monetary policy
THE Reserve Bank of Zimbabwe (RBZ) is expected to announce the Mid-Term Monitory Policy statement in the coming days.The market is not anticipating major changes to the country's economic fort...Published: 06 Sep 2019 at 07:40hrs | 2720 | by Victor Bhoroma
Industry raps Mthuli Ncube's half-hearted currency reforms
INDUSTRY has rapped Finance and Economic Development minister Mthuli Ncube over his "half-hearted approach" to the currency reforms, saying the continued use of the United States dollar in the market ...Published: 04 Sep 2019 at 08:35hrs | 1189 | by Staff reporter
Zimbabwe banks raise red flag over policies
Zimbabwe's banking sector has singled out policy inconsistency as the biggest threat to its sustainability, citing conflicting statements on currency reforms.Bankers' Association of Zimbabwe (...Published: 01 Sep 2019 at 15:01hrs | 1115 | by Staff reporter
From the 404 to the Honda Fit
"KIDNAP, robbery and near rape", the newspaper headline screamed on 22 August. "Honda Fit Crew robs osiphatheleni," our sister paper The Chronicle's headline read on 27 August. In the ...Published: 01 Sep 2019 at 14:48hrs | 444 | by Bruce Ndlovu
Introducing a new currency was Zimbabwe's only viable option
Zimbabwe, the country I serve as finance minister, has been in the news for restricting the use of the US dollar and other international currencies as legal tender. Why would we want to return to our ...Published: 28 Aug 2019 at 18:24hrs | 9435 | by Prof Mthuli Ncube
Currency changes choke banks
ZIMBABWE'S banking sector is skating on thin ice due to a illiquidity crunch that has drastically reduced the financial institutions' capacity to lend following the reintroduction of a local currency,...Published: 25 Aug 2019 at 18:51hrs | 811 | by Staff reporter
'Austerity ends in 2019,' says Muthuli Ncube
While Government has instituted a batch of key macro-economic reforms since late last year, which analysts say have set the economy for recovery and sustainable growth, the chief architect of the chan...Published: 25 Aug 2019 at 08:42hrs | 4916 | 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 | 994 | by Staff greporter
Zimbabwe in new wave of price increases
ZIMBABWE is witnessing another wave of massive price increases, following the presentation of the 2019 mid-term fiscal policy review, which are further decimating citizens' incomes.In the mid-...Published: 14 Aug 2019 at 07:48hrs | 2692 | by Staff reporter
The situation in Zimbabwe has moved to another level
"FELLOW Zimbabweans … the situation in our country has moved to another level. Firstly, we wish to assure the nation that His Excellency, President Robert Mugabe and his family are safe and sound an...Published: 13 Aug 2019 at 07:19hrs | 1983 | by Cliff Chiduku
To publish or not to?
It’s common cause that if you choose not to tell your own story, someone will do it for you and sell to the whole world that which he wants it to believe about you, which leaves you at high risk of ...Published: 11 Aug 2019 at 07:25hrs | 1010 | by Persistence Gwanyanya
Mthuli Ncube to act on liquidity crunch
The country is reeling under a massive liquidity crunch and Government is now looking at appropriate ways of re-injecting liquidity into the productive sector, according to Secretary for the Ministry ...Published: 09 Aug 2019 at 08:05hrs | 4080 | by Staff reporter
Mthuli Ncube in tough balancing act
FINANCE minister Mthuli Ncube will find it difficult to balance the books during the last half of the year after he unveiled a supplementary budget envisaging huge spending on agriculture, analysts ha...Published: 04 Aug 2019 at 14:13hrs | 701 | by Staff reporter
Mthuli Ncube widens tax-free threshold
Finance and Economic Development Minister Professor Mthuli Ncube has reviewed upwards the tax-free threshold by 100 percent from $350 to $700, with immediate effect, in an effort to increase workers' ...Published: 03 Aug 2019 at 09:32hrs | 732 | by Staff reporter
Mthuli Ncube, Mangudya should contend with being unpopular
Finance and Economic Development Minister Professor Mthuli Ncube on Thursday presented a $10,85 billion Supplementary Budget and the 2019 Mid-Term National Budget Review Statement. Themed; "Building a...Published: 03 Aug 2019 at 09:19hrs | 265 | by Staff reporter
Unions clash with Mnangagwa's govt
AS the nation plunges deeper into economic turmoil, trade unions have come under the spotlight as they clash with government and business over the working conditions of the country's ever-dwindling wo...Published: 02 Aug 2019 at 08:18hrs | 5966 | by Staff reporter
Panic grips Mnangagwa's Cabinet
Zimbabwe's thermal power stations may soon fail to feed onto the national electricity grid after coal suppliers warned their stockpile lasts for 12 days, plunging the country into colossal power crisi...Published: 29 Jul 2019 at 14:49hrs | 12934 | by Staff reporter
Forex black market struggles
FOREIGN currency trades on the interbank market have greatly improved as people shun the risky black market, Reserve Bank of Zimbabwe governor Dr John Mangudya said.The trades are also expecte...Published: 28 Jul 2019 at 09:08hrs | 1387 | by Staff reporter
Zimdollar return hits pensions
Zimbabwe Association of Pension Funds (ZAPF) is saying the introduction of Statutory Instrument (SI) 142 has reduced confidence in policyholders and shareholders in the pensions industry that has been...Published: 26 Jul 2019 at 08:28hrs | | by Staff reporter
Trevor Ncube's AMH fails to pay workers their June salaries
Struggling newspaper company Alpha Media Holdings has failed to pay workers for the month of June, ZimLive reported.Staff at the media company owned by President Emmerson Mnangagwa's adviser T...Published: 25 Jul 2019 at 09:34hrs | 2723 | by ZimLive
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