Search / Dr john mangudya
Zesa rebundling begins
Mutapa Investment Fund (MIF) has initiated the process of rebundling ZESA Holdings, aiming to streamline operations, enhance efficiency, and reduce costs within Zimbabwe's struggling electricity secto...Published: 29 Jun 2025 at 11:21hrs | 7416 | by Staff reporter
Zupco in drive to procure 500 buses
ZUPCO is set to kick off the long-awaited procurement of hundreds of new buses within the next three months, marking a significant step forward in efforts to modernise Zimbabwe's public transport syst...Published: 17 Apr 2025 at 13:43hrs | 1117 | by Staff reporter
Zimbabwe's very own Emperor Nero is burning down povo's hovels to build palatial villas for filthy rich few
"The closer the collapse of the empire, the crazier its laws" Marcus Tullius Cicero. Well we in Zimbabwe are witness this first hand. Zanu PF introduced the new local currency insisting ...Published: 18 May 2024 at 20:47hrs | 14 | by Wilbert Mukori
Gold set to anchor Zimbabwe dollar
GOLD has emerged as the most ideal instrument likely to be used to anchor the structured currency the Government is pursuing to stabilise the exchange rate and curtail persistent inflation.The...Published: 10 Mar 2024 at 06:23hrs | 13 | by Staff reporter
Zupco terminates contracts for urban buses
THE Zimbabwe United Passenger Company (Zupco) has initiated a process of terminating its contracts with private owners of buses plying urban routes.The move comes as the remaining buses on con...Published: 16 Feb 2024 at 04:57hrs | 9 | by Staff reporter
A sad Christmas present from clueless Mthuli Ncube
The just presented 2024 budget by Prof Mthuli Ncube has left Zimbabweans in shock. This is the worst budget ever produced by minister of Finance since independence and the colonial era.It has ...Published: 02 Dec 2023 at 10:39hrs | 15 | by Leonard Koni
Gold tokens to become medium of exchange in Zimbabwe
THE Reserve Bank of Zimbabwe (RBZ) is finalising the modalities of rolling out the gold-backed digital tokens as a medium of exchange for domestic transactions to complement the US dollars, Governor D...Published: 10 Aug 2023 at 06:43hrs | 12 | by Staff reporter
RBZ backs Pan-African payment, settlement system
Reserve Bank of Zimbabwe (RBZ) Governor Dr John Mangudya has thrown weight behind the Pan-African Payment and Settlement System, a cross-border, financial market infrastructure enabling payment system...Published: 21 Jun 2023 at 06:17hrs | 3 | by Staff reporter
RBZ finalises platform for digital token payments
THE Reserve Bank of Zimbabwe (RBZ) is finalising the establishment of a platform that facilitates person-to-person transactions using digital gold tokens, a development expected to largely reduce dema...Published: 18 Jun 2023 at 08:30hrs | | by Staff reporter
Mnangagwa reads riot act on prices
PRESIDENT Mnangagwa yesterday read the riot act on businesses that are working behind the scenes with vested foreign countries to hike prices to make the people suffer and turn against the Zanu-PF-led...Published: 10 Jun 2023 at 17:45hrs | 1 | by Staff reporter
Banks scale back Zimbabwe dollar lending
BANKS have significantly reduced lending in the local currency ever since monetary authorities hiked interest rates last year to prevent rent-seeking behaviour by individuals and corporates, Reserve B...Published: 04 Jun 2023 at 08:29hrs | | by Staff reporter
'Zimbabwe has no capacity for full dollarisation'
RESERVE Bank of Zimbabwe (RBZ) Governor, Dr John Mangudya, has urged Zimbabweans to embrace the local currency saying the country has no capacity to sustain a fully dollarised economy.While th...Published: 02 Jun 2023 at 06:42hrs | 1 | by Staff reporter
RBZ clarifies new forex surrender policy
THE Reserve Bank of Zimbabwe (RBZ) is set to meet with the Bankers Association of Zimbabwe (BAZ) and Accountant General with a view to map the way forward on the use of foreign exchange from the 25 pe...Published: 02 Jun 2023 at 06:40hrs | 1 | by Staff reporter
Zimbabwe's FIU to probe businesses inflating prices for USD bank transfers
THE Reserve Bank of Zimbabwe's Financial Intelligence Unit (FIU) has said it will investigate unethical behaviour exhibited by various businesses after it emerged that they are forcing customers to pa...Published: 28 May 2023 at 08:00hrs | 2 | by Staff reporter
Forex speculators to face disciplinary action
THE market should expect significant restoration of stability in the pricing of basic goods in response to comprehensive Government measures while disciplinary action will be swiftly meted against bus...Published: 23 May 2023 at 06:34hrs | 2 | by Staff reporter
'Re-engagement will depend on holding credible 2023 elections' AfDB warns. At long last, some home-truths
"The African Development Bank has moved to fast-track Zimbabwe's $3.5 billion compensation to white farmers whose land was seized under former president Robert Mugabe's reforms. The bank is leading ef...Published: 22 May 2023 at 21:59hrs | 1 | by Wilbert Mukori
Zimbabwe central bank confident of price stability
ABOUT $40 billion, some of which could have found its way onto the black market, has been mopped up from the market in less than 10 months through gold coins and gold-backed digital tokens, in a devel...Published: 14 May 2023 at 11:32hrs | 1 | by Staff reportetr
$14 billion gold digital tokens bought so far in Zimbabwe
The Reserve Bank of Zimbabwe (RBZ) has said a total 139 570 982 milligrammes (139,57kg) of gold-backed digital tokens valued at $14 077 billion were bought during the initial sale, which opened on Mon...Published: 13 May 2023 at 18:25hrs | 1 | by Staff reporter
'Black market rates to fall,' dreams RBZ
THE Reserve Bank of Zimbabwe (RBZ) is set to introduce a gold-backed digital currency to be used as legal tender for transacting in the country as part of interventions to stabilise the local currency...Published: 23 Apr 2023 at 07:48hrs | 1 | by Staff reporter
Zimbabwe central bank introduces gold-backed digital currency
THE Reserve Bank of Zimbabwe (RBZ) is set to introduce a gold-backed digital currency to be used as legal tender for transacting in the country as part of interventions to stabilise the local currency...Published: 23 Apr 2023 at 07:47hrs | 2 | by Staff reporter
Zimbabwe stockpiles 350kg of gold after new policy
THE Reserve Bank of Zimbabwe (RBZ) has stockpiled more than 350 kilogrammes of gold collected under a new law compelling companies mining gold, diamonds, lithium and platinum group of metals (PGMs) to...Published: 02 Apr 2023 at 11:00hrs | 26 | by Staff reporter
Sanctions on Zimbabwe are through ZIDERA and augmented by OFAC
ZIMBABWE remains under a punitive regime of economic sanctions that have negatively impacted the movement of funds and trading capabilities in the past two decades, Reserve Bank of Zimbabwe (RBZ) Gove...Published: 08 Mar 2023 at 05:28hrs | 2 | by Staff reporter
RBZ dismisses 'bizarre, malicious' Aljazeera claims
RESERVE Bank of Zimbabwe (RBZ) governor, Dr John Mangudya, has dismissed as false and malicious reports carried in a trailer of an unscreened documentary by the Qatar-based Al Jazeera television netwo...Published: 06 Mar 2023 at 15:00hrs | 1 | by Staff reporter
'Unveiling Zimbabwe's Dark Secrets' Al Jazeera documentary Truth is finally coming out. 'Rinemanyanga hariputirwi!'
Starting tonight, 10 pm UK time, Al Jazeera will broadcast a four-part documentary titled Unveiling Zimbabwe's Dark Secrets: Al Jazeera Exposes Looting, Plunder and Money Laundering.The Zanu P...Published: 02 Mar 2023 at 20:17hrs | 35 | by Wilbert Mukori
Travellers can now take out US$10 000 cash
THE Reserve Bank of Zimbabwe yesterday doubled the amount of foreign currency in cash someone can physically carry on their person or in their baggage out of the country to US$10 000.Far large...Published: 02 Mar 2023 at 05:45hrs | 2 | by Staff reporter
Mnangagwa's latest revised plan: 'Nyika inovakwa inorakashwa ivenevayo imashefu namaChina!'
"Zimbabweans jam UK work visa applications" screamed the headline. 8 363 skilled and semi-skilled Zimbabweans were granted UK work permit in 2022 up from 499 in 2019. The truth is Zimbabweans have bee...Published: 27 Feb 2023 at 18:57hrs | 3 | by Nomusa Garikai
'Zimbabwe gold coins a masterstroke,' claims Mnangagwa
THE introduction of gold coins by the Reserve Bank of Zimbabwe (RBZ) has been a masterstroke, as it has brought the equivalent of US$27,5 million into the formal system and helped in the economic turn...Published: 13 Feb 2023 at 05:15hrs | 1 | by Staff reporter
Zimdollar haunted by trust issues
Zimbabweans across the country continue to lose trust in the local currency due to the rapid loss of value, meaning it cannot serve as the store of value and medium of exchange.According to th...Published: 12 Feb 2023 at 07:20hrs | 3 | by Staff reporter
Zimbabwe risks another currency collapse
FULL dollarisation remains an unviable proposition for Zimbabwe, defiant Reserve Bank of Zimbabwe (RBZ) governor Dr John Mangudya says, despite the economy rapidly gravitating toward self-redollarisat...Published: 12 Feb 2023 at 07:20hrs | 1 | by Staff reporter
RBZ to issue gold coins on demand
The Reserve Bank of Zimbabwe (RBZ) says it will continue to mint more gold coins provided there is demand from the market, following the bullion coins' positive contribution to efforts aimed at taming...Published: 06 Feb 2023 at 04:51hrs | | by Staff reporter
Reserve Bank slashes lending rates, increases forex retention
THE Reserve Bank of Zimbabwe (RBZ) has trimmed its bank policy rate to 150 percent from 200 percent per annum and increased foreign currency retention thresholds for exporters on domestic sales while ...Published: 02 Feb 2023 at 22:58hrs | 24 | by Staff Reporter
'Zimbabwe's $5 000 withdrawal limit no longer adequate'
THE transacting public has implored the Reserve Bank of Zimbabwe (RBZ) to consider increasing cash withdrawal limits saying the weekly $5 000 cap is no longer convenient given the exchange rate moveme...Published: 02 Feb 2023 at 08:24hrs | 1 | by Staff reporter
RBZ takes charge of in-kind mining royalties
THE Reserve Bank of Zimbabwe (RBZ) will assume responsibility for collecting, holding, and managing reserve assets from the 50 percent in-kind mining royalties in line with the latest regulations whil...Published: 26 Jan 2023 at 07:32hrs | 2 | by Staff reporter
Reserve Bank of Zimbabwe keeps bank rate at 200%
THE Reserve Bank of Zimbabwe (RBZ) has kept its bank policy rate at 200 percent after its Monetary Policy Committee (MPC) expressed satisfaction with how the current tight monetary policy stance has h...Published: 06 Dec 2022 at 04:58hrs | 2 | by Staff reporter
'Small gold coins will further anchor stability'
The introduction of small gold coins last week is expected to further stabilise the exchange rate, Reserve Bank of Zimbabwe (RBZ) governor Dr John Mangudya has said.Large-denomination bullion ...Published: 20 Nov 2022 at 15:34hrs | 1 | by Staff reporter
Zimbabwe starts disbursement of 4 500 small gold coins
THE Reserve Bank of Zimbabwe (RBZ) will tomorrow start disbursing 4 500 smaller units of Zimbabwe's Mosi-oa-Tunya gold coins to banks ahead of planned release of the bullion coins in the market on Tue...Published: 10 Nov 2022 at 04:54hrs | 2 | by Staff reporter
Big energy users to import 500MW
Zesa is set to import more power to meet demand from the country's biggest energy consumers — the Intensive Energy Users Group (IEUG) — who require more than 500 megawatts (MW) to run their operat...Published: 09 Oct 2022 at 07:50hrs | 2 | by Staff reporter
ZB directors mull liquidation and surrendering licence
With three months left before year-end, it is now crunch time for ZB Financial Holdings (ZBFH), which is currently under increased pressure to recapitalise its building society within the grace period...Published: 02 Oct 2022 at 08:58hrs | 14 | by Staff reporter
Zimdollar, US dollar exchange rate cleavage narrows
THE narrowing of the gap between parallel market and official exchange rates from an elevated level of 140 percent in May to current levels of between five percent and 15 percent is a significant move...Published: 29 Sep 2022 at 05:56hrs | | by Staff reporter
$9bn gold coins sold as individuals join rush
THE Reserve Bank of Zimbabwe (RBZ) says gold coins worth $9 billion have been sold since July this year, with individuals taking a significant chunk of the bullion, while the Monetary Policy Committee...Published: 28 Sep 2022 at 05:55hrs | 2 | by Staff reporter
Mosi-oa-Tunya gold coins selling like hotcakes
THE Mosi-oa-Tunya gold coins have generated $9 billion from the sale of 9 516 coins with 35 percent having been sold to individuals and 65 percent to corporates, the Reserve Bank of Zimbabwe has said....Published: 27 Sep 2022 at 19:27hrs | 1 | by Staff reporter
Zimdollar to further strengthen?
The Zimbabwe dollar is likely to strengthen as extra strands in the policies to decrease the amount of local currency in bank accounts, while increasing the amount of foreign currency in official mark...Published: 20 Sep 2022 at 06:02hrs | 4 | by Staff reporter
Zimbabwe gold coins to be afforded by all
THE Government is planning to introduce smaller gold coins denominations amid revelations that at least Z$8 billion worth of the coins have been bought by locals since they were launched by the Reserv...Published: 18 Sep 2022 at 16:53hrs | 2 | by Staff reporter
Zimbabwe explores central bank digital currency
The Reserve Bank of Zimbabwe (RBZ) says it is moving ahead with plans to create Zimbabwe's own Central Bank Digital Currency (CBDC) on a phased approach.RBZ Governor Dr John Mangudya said the ...Published: 24 Aug 2022 at 06:37hrs | 7 | by Staff reporter
Zimbabwe's diaspora remittances hit US$800 million
ZIMBABWE'S diaspora remittances reached US$797 million in the first six months of the year, representing a 23 percent increase in the corresponding period last year.An estimated three million ...Published: 16 Aug 2022 at 06:35hrs | 3 | by Staff reporter
Zimdollar makes paper gains
The economy has largely stabilised, especially from late last month, as a result of aggressive measures by Government to rein in market indiscipline, and market watchers are confident the latest inter...Published: 14 Aug 2022 at 07:22hrs | 3 | by Staff reporter
Mnangagwa says Zimbabweans must stop parroting foreign narratives
ZIMBABWEANS should believe in themselves despite the continued imposition of sanctions on the country and be inspired by the national interest to work harder to develop their own country rather than "...Published: 14 Aug 2022 at 07:21hrs | 1 | by Staff reporter
RBZ strangles street money changers
They don't know what has suddenly hit them. It is no longer business as usual for most, if not all, illegal street money changers.They used to call the shots in the last few months, de...Published: 13 Aug 2022 at 07:23hrs | 1 | by Staff reporter
Mnangagwa tells profiteers to play fair,
PRESIDENT Mnangagwa yesterday reiterated the need to adopt fair business practices and urged economic stakeholders to rally behind the country's transformation agenda and leave a legacy of positive im...Published: 13 Aug 2022 at 07:23hrs | 1 | by Staff reporter
Zimbabwe to release smaller gold coins
Smaller Zimbabwean gold coins, as small as a tenth of an ounce, are expected to go on sale in November from the Reserve Bank of Zimbabwe so ordinary people can invest in them and store value for their...Published: 12 Aug 2022 at 06:35hrs | 1 | by Staff reporter
Load More Stories
