Search / Dr john mangudya
Mr Cross: Silence cannot be misquoted
In September 2019, Finance and Economic Development Minister, Professor Mthuli Ncube, appointed a nine-member Monetary Policy Committee (MPC) to influence the Reserve Bank of Zimbabwe (RBZ)'s monetary...Published: 25 Jan 2021 at 08:28hrs | 3861 | by Dr Tim Rainhard
'High value denominations will not affect inflation'
THE introduction of high value denominations into the economy will not result in high inflation as long as the Reserve Bank of Zimbabwe (RBZ) does not print too much money. Economic commentato...Published: 14 Jan 2021 at 07:52hrs | 337 | by Staff reporter
Zimbabwe to introduce new banknotes soon
THE Reserve Bank of Zimbabwe (RBZ) will soon introduce a new set of higher denomination banknotes to increase physical money supply, curb cash shortages and improve transacting convenience.Aut...Published: 10 Jan 2021 at 07:52hrs | 989 | by Staff reporter
Surge in prices exposes profiteering businesses
THE recent surge in prices witnessed across a range of basic products is an indication of attempts at "profiteering" by businesses taking advantage of firm demand despite the strain of Covid-19. ...Published: 31 Dec 2020 at 10:32hrs | 163 | by Staff reporter
Zanu-PF Central Committee meets
The Zanu-PF Central Committee is expected to meet this morning at the party's headquarters in Harare starting at 10am. Defence and War Veterans Affairs Minister Oppah Muchinguri-Kashiri,...Published: 29 Dec 2020 at 06:53hrs | 224 | by Staff reporter
Electronic Fund Transfers fuel money laundering in Zimbabwe
CROSS-BORDER money traders are collecting huge sums in foreign currency in Zimbabwe and smuggling it into South Africa through the use of Electronic Funds Transfer (EFT).The illegal traders tu...Published: 27 Dec 2020 at 07:13hrs | 1034 | by Vusumuzi Dube
RBZ to lower borrowing costs
Monetary authorities agree that there is need to lower the cost of borrowing in Zimbabwe in order to support high production in the economy, but are still studying key fundamentals to see if that will...Published: 24 Dec 2020 at 05:04hrs | 923 | by Staff reporter
RBZ clarifies use of USD
RESERVE Bank of Zimbabwe (RBZ) Governor Dr John Mangudya has explained the use of US dollars in the country, including value and legal status of the virtual form of the greenback. This comes a...Published: 22 Dec 2020 at 06:40hrs | 535 | by Staff reporter
RBZ to crack whip on auction abusers
THE Reserve Bank of Zimbabwe (RBZ) says it will request the Financial Intelligence Unit (FIU) to close bank accounts of business entities that are pricing using exchange rates not linked to the ruling...Published: 21 Dec 2020 at 06:14hrs | 173 | by Staff reporter
Forex earnings inch closer to US$6 billion
The economy has been resilient for much of the year, with key macroeconomic fundamentals reflecting strong performance in the January to November period despite the fallout from the coronavirus, Reser...Published: 20 Dec 2020 at 06:40hrs | 132 | by Staff reporter
Zimbabwe Diaspora inflows set for record levels
Zimbabwe's Diaspora remittances are this year expected to close at record levels of US$940 million, despite economic disruptions caused by the Covid-19 pandemic. Estimates from the Reserve Ban...Published: 17 Dec 2020 at 06:47hrs | 233 | by Staff reporter
Fuel smugglers, tax evaders warned
Government has issued a stern warning to fuel smugglers and tax evaders, as it moves in to plug revenue leakages that have been negatively impacting the country's economic growth.A post-budget...Published: 30 Nov 2020 at 18:28hrs | 685 | by Staff Reporter
Zimdollar demand spikes
THE continued consolidation of the Zimbabwean dollar gains on the official market-driven foreign currency auction platform has created huge demand for the local currency on the back of growing confide...Published: 15 Oct 2020 at 06:37hrs | 1978 | by Staff reporter
Biti allegations are baseless
MDC-ALLIANCE co-vice-president Tendai Biti has on countless occasions made unsavoury and bald assertions, mainly to his gullible supporters, that "Zanu-PF may rig elections, but it cannot rig the econ...Published: 05 Oct 2020 at 06:41hrs | 1937 | by Rutendo Jiri
Equatorial Guinea delegation meets Mnangagwa
Equatorial Guinea Foreign Affairs Minister Mr Simeon Oyono today paid a courtesy call on President Mnangagwa at State House to deliver a special message from President Teodoro Obiang Nguema Mbasogo....Published: 23 Sep 2020 at 22:24hrs | 931 | by Staff reporter
Hon Biti attempting to ensnare Prof Ncube, Dr Mangudya for political gain
FORMER Finance and Economic Development Minister, Honourable Tendai Biti is one of the very few political figures within the country's multiple opposition parties who appear to understand their respon...Published: 15 Sep 2020 at 11:34hrs | 3956 | by Nathan Gurira
Zanu-PF ministerial briefings continue
THE governing party, ZANU-PF, will continue briefings with Cabinet ministers as it tries to add impetus to ongoing efforts to grow the economy.The consultations are part of the party's thrust ...Published: 06 Sep 2020 at 08:47hrs | 260 | by Staff reporter
RBZ to settle gold miners' outstanding payments
THE Zimbabwe Miners Federation (ZMF) has received assurance from the Reserve Bank of Zimbabwe that its members will start receiving outstanding payments for gold deliveries this week. ZMF is t...Published: 31 Aug 2020 at 06:01hrs | 254 | by Staff reporter
Mangudya's auction has made doubting Thomases believe
On June 23, 2020, Reserve Bank of Zimbabwe (RBZ) Governor, Dr John Mangudya, introduced a market-based foreign exchange (forex) auction system for the country.Indeed, the auction came as refre...Published: 30 Aug 2020 at 08:28hrs | 566 | by Jameson Dapi
Mangudya's auction has made doubting Thomases believe…
On 23 June, 2020, Reserve Bank of Zimbabwe (RBZ) Governor, Dr John Mangudya, introduced a market-based foreign exchange (forex) auction system for the country. Indeed, the auction came as refreshingly...Published: 28 Aug 2020 at 19:04hrs | 2317 | by Jameson Dapi
More USD for Zimbabwe
ZIMBABWEANS living and working abroad sent more than US$374 million back home during the first six months of the year, which represents a 26 percent rise from the US$298 million that was recorded in t...Published: 23 Aug 2020 at 11:11hrs | 1169 | by Staff reporter
Zimbabwe economy finally being 'rigged'
Nelson Chamisa and his MDC-Alliance lost the election in the July 2018 elections of the post-Mugabe era.Reacting to this loss, he cockily pronounced that it was of no consequence.His a...Published: 23 Aug 2020 at 11:10hrs | 817 | by Ambassador Chris Mutsvangwa
Mobile operators outed for printing money
SOME mobile money operators have been printing money through creating overdrafts and fictitious credit, most of which was channelled to buy foreign currency on the parallel market a practice that has ...Published: 23 Aug 2020 at 11:09hrs | 600 | by Staff reporter
Cash disbursements to resume
Cash disbursements to vulnerable households affected by Covid-19 are set to resume soon as the Reserve Bank of Zimbabwe (RBZ) finalises its investigations into abuse of mobile money platforms, which w...Published: 23 Aug 2020 at 11:08hrs | 329 | by Staff reporter
RBZ directs sale of 20% shop forex
Twenty percent of all new foreign currency taken by Zimbabwean businesses from local customers must now be liquidated at the official exchange rate, when deposited in a domestic foreign currency bank ...Published: 22 Aug 2020 at 08:25hrs | 1649 | by Staff reporter
Mobile money agents abolished in Zimbabwe
GOVERNMENT has with immediate effect abolished mobile money wallet agents as they are no longer serving any legitimate purpose and further tightened regulations to tackle illegal foreign currency deal...Published: 21 Aug 2020 at 19:31hrs | 1853 | by Staff reporter
RBZ to buttress auction system
THE Reserve Bank of Zimbabwe (RBZ) says it will announce policy measures to buttress stability of the auction system and exchange rate when it delivers the Mid-term Monetary Policy Review this week....Published: 16 Aug 2020 at 08:14hrs | 1079 | by Staff reporter
Zimbabwe reserve money supply drops
ZIMBABWE'S reserve money supply growth decreased to $16,66 billion in the week ended July 31 from $17,01 billion the previous week as authorities implement tight policies to control inflation. ...Published: 12 Aug 2020 at 06:46hrs | 933 | by Staff reporter
Zimbabwe not dollarising, says RBZ
RESERVE Bank of Zimbabwe (RBZ) governor Dr John Mangudya, insists there is no going back on the process of de-dollarising the economy despite the growing use of the US dollar in most transactions, mor...Published: 10 Aug 2020 at 17:12hrs | 1795 | by Staff reporter
Mnangagwa blocks bread price hike
Government has blocked bakers from increasing the price of a standard loaf of bread to $80 from an average $60 and assured them of more than US$2 million every week from the foreign currency auction....Published: 09 Aug 2020 at 09:44hrs | 746 | by Staff reporter
Motorists plead for fuel dual pricing
Government should come up with legislation that makes it mandatory for service stations to sell fuel in both foreign and local currency in line with the prevailing exchange rate, motorists have said. ...Published: 04 Aug 2020 at 08:07hrs | 501 | by Staff reporter
Zimdollar depreciates 4.5% to $72.14
There was a 4.51% depreciation on the local currency against the US$ to 72.1470 at the close of the Reserve Bank of Zimbabwe auction of Tuesday with US$14.85 million being allotted at a cost of $1.07 ...Published: 21 Jul 2020 at 17:35hrs | 1750 | by Staff reporter
Mangudya happy with currency, price trends
Reserve Bank of Zimbabwe (RBZ) Governor Dr John Mangudya on Friday expressed confidence in the direction the economy is taking in terms of achieving exchange rate and price stability.A key rol...Published: 19 Jul 2020 at 09:18hrs | 1491 | by Staff reporter
It is time for Mthuli Ncube to go
Finance minister of Zimbabwe, Mthuli Ncube, PhD (cantab), has become the poster child of everything that is wrong with the management of affairs in Zimbabwe. He must go. Then and only then, will Zimba...Published: 12 Jul 2020 at 10:58hrs | 5211 | by Kenneth Mufuka
Over 200 arrested for rejecting bank notes
So far 202 people have been arrested for rejecting dollars and labelling them "bond notes", with 51 of them already brought to court, while five have been fined between $200 and $500. The arre...Published: 06 Jul 2020 at 13:05hrs | 668 | by Staff reporter
RBZ invites all forex holders to use new auction systems
The Reserve Bank of Zimbabwe (RBZ)'s monetary policy committee (MPC) has implored all holders of foreign currency to sell their money through the apex bank's auction market at their preferred prices, ...Published: 01 Jul 2020 at 17:55hrs | 1707 | by Staff reporter
RBZ injects more cash into circulation
The Reserve Bank of Zimbabwe (RBZ) says it injected approximately $64 million cash into circulation during the week ending June 19, 2020. According to statistics released last Friday by the ce...Published: 30 Jun 2020 at 08:14hrs | 1784 | by Staff reporter
EcoCash suspends agent, bulk payer lines
DOMINANT mobile money service provider, EcoCash, says all of its agent and bulk payer lines have been suspended until further notice in compliance with the Reserve Bank of Zimbabwe (RBZ) directive. ...Published: 30 Jun 2020 at 07:57hrs | 2293 | by Staff reporter
RBZ confirms mobile money ban but keeps platforms open for small transactions
THE Reserve Bank of Zimbabwe (RBZ) has suspended all money agents from mobile financial transactions but the general public can still continue to transact using the platforms.In a statement ye...Published: 28 Jun 2020 at 07:18hrs | 308 | by Staff reporter
Millers to withhold products from shops rejecting bond notes
THE Grain Millers Association of Zimbabwe (GMAZ) yesterday threatened to stop supplying their products to wholesalers and shops refusing bond notes and coins, which are still legal tender.Memb...Published: 26 Jun 2020 at 06:51hrs | 238 | by Staff reporter
Forex exchange auction trading system off to a good start
The foreign exchange auction trading system has made a good start when it kicked-off in Harare today (June 23, 2020), without any great difficulty.On its first day, bids worth about US$11,4 mi...Published: 23 Jun 2020 at 19:33hrs | 3034 | by Nathan Gurira
Zimdollar trades at 57.36 to the US dollar
THE official exchange rate of the US dollar is now 57.36 following the implementation of the market-based auction system. 92 bids were received with the lowest bid being 25.50 and the highest bid bein...Published: 23 Jun 2020 at 18:13hrs | 2059 | by Staff reporter
Informal traders reject $2, $5 notes
INFORMAL traders are rejecting $2 and $5 bond notes as well as coins, money which the Reserve Bank of Zimbabwe (RBZ) has said is still legal tender. Police yesterday also warned those rejectin...Published: 23 Jun 2020 at 07:52hrs | 1190 | by Staff reporter
RBZ launches foreign exchange auction today
The Reserve Bank of Zimbabwe (RBZ)today replaces the interbank market with weekly foreign exchange auctions to determine the Zimbabwe dollar exchange rate with those in industry and commerce cautiousl...Published: 23 Jun 2020 at 07:47hrs | 1658 | by Staff reporter
Zimbabwe: Your prayers are going nowhere!
Under different circumstances, a call by the country's leadership for atonement, supplication and prayer brings about a sobering moment to the populace. It is my painful duty to inform you that the ca...Published: 21 Jun 2020 at 11:38hrs | 409 | by Kenneth Mufuka
RBZ chief clarifies local currency
FARMERS, gold miners and other producers who have been crying foul over the 1:25 fixed interbank exchange rate have something to smile about as the Reserve Bank of Zimbabwe (RBZ) starts implementing t...Published: 21 Jun 2020 at 11:07hrs | 4510 | by Staff reporter
Goobye interbank rate!…RBZ chief speaks on auction system
FARMERS, gold miners and other producers who have been crying foul over the 1:25 fixed interbank exchange rate have something to smile about as the Reserve Bank of Zimbabwe (RBZ) starts implementing t...Published: 21 Jun 2020 at 08:15hrs | 4461 | by Staff Reporter
Zimbabweans must desist from negativity before it spreads like a disease
LAST week, Reserve Bank of Zimbabwe (RBZ) Governor, Dr John Mangudya, announced the introduction of a foreign exchange auction trading system with effect from June 23, 2020, which effectively means th...Published: 20 Jun 2020 at 21:05hrs | 1255 | by Toby Sithole
Zimbabweans must desist from negativity before it spreads like a disease
LAST week, Reserve Bank of Zimbabwe (RBZ) Governor, Dr John Mangudya, announced the introduction of a foreign exchange auction trading system with effect from June 23, 2020, which effectively means th...Published: 20 Jun 2020 at 20:32hrs | 295 | by Toby Sithole
'Bond coins, notes still legal tender'
Bond coins and bond notes are still legal tender, Information, Publicity and Broadcasting Services Minister Monica Mutsvangwa reiterated yesterday and traders are legally obliged to accept them. ...Published: 20 Jun 2020 at 08:05hrs | 217 | by Staff reporter
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