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RBZ to regulate cryptocurrencies
The Reserve Bank of Zimbabwe is working on a regulatory framework for cryptocurrency trading platforms operating in the country. Governor John Mangudya said that the central bank was not again...Published: 26 Nov 2020 at 07:56hrs | 4465 | by Staff reporter
RBZ ropes in banks to clear forex backlog
The Reserve Bank of Zimbabwe has approached local banks to help clear a two-week backlog of unpaid importers invoices amid indications that the auction is struggling to keep up with demand for foreign...Published: 26 Nov 2020 at 07:48hrs | 2750 | by Staff reporter
Zimbabwe coups: What now for the legacies?
Three months after President Emmerson Mnangagwa deposed Robert Mugabe on November 15, 2017, Nelson Chamisa applied the same template to supplant Thokozani Khupe, ensuring he replaced Morgan Tsvangirai...Published: 22 Nov 2020 at 04:54hrs | 327 | by Toendepi Shonhe
Illegal forex dealers feel the pinch
Black market forex dealers are feeling the heat following a raft of monetary measures recently put in place by the central bank to halt the depreciation of the local currency which had fuelled a spike...Published: 05 Nov 2020 at 21:34hrs | 11603 | by Staff reporter
Zimdollar weakens against the US dollar
The Zimbabwe dollar moved marginally by less than a third of a Zimbabwean cent, against the US dollar at yesterday's Reserve Bank of Zimbabwe (RBZ) foreign currency auction, trading 0,004 percent high...Published: 28 Oct 2020 at 06:25hrs | 3067 | by Staff reporter
The issue of Zimbabwe debt
THIS past Sunday, our church sermon was taken from Nehemiah Chapter 10 and focused on the instructions given to the tribes of Israel which had returned to Israel from exile in Babylon about 400 years ...Published: 21 Oct 2020 at 21:50hrs | 225 | by Eddie Cross
Esaph Mdlongwa: Obituary from the General Secretary of the Zimbabwe Communist Party
I have learnt with a heavy heart the passing away of Comrade Esaph Mdlongwa, the founding Organising Secretary of the Movement for Democratic Change, a trade unionist and a former Member of Parliament...Published: 16 Oct 2020 at 11:39hrs | 1967 | by Ngqabutho Nicholas Mabhena.
Zimbabwe to introduce higher denomination notes
The Reserve Bank of Zimbabwe is expected to introduce higher denomination notes, which will see the amount of physical cash in circulation double to $3 billion. A member of the RBZ's MPC Eddie...Published: 15 Oct 2020 at 07:02hrs | 5757 | 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 | 1970 | 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 | 1932 | by Rutendo Jiri
'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 | 1658 | by Staff reporter
Mnangagwa's govt fails to fill gaps in compensation debate
THERE are issues in the compensation debate to which government has closed its mind and, therefore, has miserably failed to justify the decision. They include government's failure to justify compensat...Published: 06 Sep 2020 at 08:55hrs | 367 | by Jonathan Maphenduka
Zimdollar strengthens against the real US dollar
The local currency appreciated for the first time against the US dollar after it firmed a marginal 0.094% to 83.3209 from 83.3994. This followed a drop in both the highest and lowest bids to 87.5 and ...Published: 01 Sep 2020 at 18:39hrs | 6524 | by Staff reporter
Price stability to force inflation down
The growing price and exchange rate stability following the introduction in June of the forex auction, coupled with a cocktail of measures by the Reserve Bank of Zimbabwe (RBZ) to support the platform...Published: 30 Aug 2020 at 08:27hrs | 382 | by Staff reporter
'Zimbabwe now a trillion dollar economy'
The Mid Term Monetary Policy Statement from the Reserve Bank is well worth a read. This is the first overall review following the formation of the Monetary Policy Committee in August 2019. I was privi...Published: 23 Aug 2020 at 20:33hrs | 10201 | by Eddie Cross
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 | 1076 | by Staff reporter
Zimbabwe economic reforms charms top economists
Despite inheriting an economy on the brink of collapse in 2018, marked by a 40 percent fiscal deficit from his predecessor the late Cde Robert Mugabe, ZANU PF First Secretary and President Cde Emmerso...Published: 12 Aug 2020 at 16:47hrs | 3501 | by David Mwanza
Zimbabwean state capture
In my weekly political review show on the Gambakwe media platform two Sunday ago, we discussed about the planned demonstration on the 31st of July 2020. During the interview I invok...Published: 06 Aug 2020 at 22:59hrs | 4241 | by Terence. T. Simbi
'Mnangagwa curfew a reminder of Rhodesia, Gukurahundi periods'
POLITICAL parties and activists in Bulawayo say the dusk to dawn national curfew imposed by President Emmerson Mnangagwa Tuesday brought back sad memories of Gukurahundi atrocities carried out by the ...Published: 23 Jul 2020 at 20:19hrs | 373 | by Staff reporter
Conventional economics do not often apply to the Zimbabwean economy
CONVENTIONAL economics do not often apply to the Zimbabwean economy. If we take as an example the period during the government of national unity (GNU) from 2009 to 2013, the hard currency revenues to ...Published: 16 Jul 2020 at 07:49hrs | 1505 | by Eddie Cross
Interim Zisco board chair leaves in a huff
ECONOMIST Gift Mugano has resigned as Ziscosteel interim chairperson after Industry minister Sekai Nzenza reportedly censored him for making remarks that were deemed in 'conflict' with his role as a b...Published: 30 Jun 2020 at 08:16hrs | 1468 | by Staff reporter
Zimbabwe's economists query China's friendship
Some of the country's economists have raised their eyebrows with regards to China's debt cancellations in Africa which were revealed earlier on this week.China's cancellation of debt towards r...Published: 27 Jun 2020 at 10:35hrs | 1723 | by Daniel Itai, Harare, Zimbabwe
Mnangagwa's move to pay civil servants USD allowances is 'crazy'
The Zimbabwean government's move to pay its workers US dollar-denominated allowances as the southern African country struggles to stabilise its local currency has been described as "crazy" by an econo...Published: 23 Jun 2020 at 18:19hrs | 1770 | 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 | 1656 | 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 | 407 | by Kenneth Mufuka
Economists wary of Zimbabwe
Former Finance Minister Tendai Biti as well as two of the country's renowned economists Eddie Cross and Dr. Tapiwa Mashakada have raised concerns over the economic wellbeing of the country.The...Published: 16 Jun 2020 at 11:59hrs | 1943 | by Daniel Itai
RBZ plots ambush to rein in exchange rates
The Reserve Bank of Zimbabwe (RBZ) will henceforth use 'ambush raids' as a strategy within its array of policy interventions as the monetary authorities battle to break persistent buffeting of the dom...Published: 01 Jun 2020 at 08:31hrs | 1373 | by Staff reporter
Banks to swap RTGS for new notes: RBZ
THE Reserve Bank of Zimbabwe (RBZ) says banks will have to swap RTGS balances for new higher denomination notes, as part of the bank's strategy to keep a firm grip on money supply growth. The ...Published: 20 May 2020 at 06:50hrs | 952 | by Staff reporter
German firm prints, delivers 60 tonnes of Zimbabwe's new bank notes
Zimbabwe on Thursday received 60,000kg (60 tonnes) in freshly-printed higher denomination bond notes, which the central bank says will go into circulation at the end of the month.The RBZ annou...Published: 14 May 2020 at 13:07hrs | 16343 | by Staff reporter
Zimbabwe to get new bank notes soon
THE Reserve Bank of Zimbabwe will introduce a new set of higher denomination bank notes over the next few weeks to increase physical money supply and curb prevailing cash shortages.Authorities...Published: 10 May 2020 at 07:32hrs | 1222 | by Staff reporter
Zanu PF denying MDC elected councillors to do their mandate: Manyenyeni
Former MDC Harare Mayor Bernard Manyenyeni has revealed that Zanu PF government has for the past years been blocking the opposition elected councillors in the capital city to exercise their mandate of...Published: 26 Apr 2020 at 08:00hrs | 626 | by Stephen Jakes
Mnangagwa's allies 'grab' Ziscosteel properties amid fears of total collapse
'Vultures' are not waiting for the death of the Zimbabwe Iron and Steel Company (Ziscosteel), but are instead flying low for the kill, eyeing its mega-million assets, among them the steelworks' real e...Published: 05 Apr 2020 at 08:58hrs | 14100 | by Staff reporter
Old Mutual faces money laundering charges
THE Securities and Exchange Commission of Zimbabwe (SECZ) has launched an investigation into suspected illicit activities surrounding trading in fungible stocks linked to three listed companies — Ol...Published: 29 Mar 2020 at 07:27hrs | 1193 | by Staff reporter
Zimbabwe's problems keep piling - from starvation to coronavirus
THE COVID-19 outbreak is expected to worsen Zimbabwe's problems as the southern African country grapples with a tanking economy, the worst food shortages in decades and a collapsing health system, obs...Published: 29 Mar 2020 at 07:25hrs | 164 | by Staff reporter
Mnangagwa is sucked into multi-million Zisco assets stripping
A fresh probe has revealed that the government facilitated a shady US$225 million deal meant to strip the comatose Zimbabwe Iron and Steel Company (Zisco) of its critical assets.The investigat...Published: 23 Mar 2020 at 05:41hrs | 1106 | by Everson Mushava
Indonesian investor keen on Chiyangwa's Zeco
BULAWAYO-based engineering firm, Zeco Engineering, is in talks with an Indonesian investor, Inka Limited, over a strategic deal that will see the country's sole rail wagons manufacturer resuming produ...Published: 16 Mar 2020 at 05:52hrs | 497 | by Staff reporter
Russians to build US$1,5 billion fuel pipeline in Zimbabwe
ZIMBABWE has roped in the Russian government to fund the construction of a second fuel pipeline worth US$1,5 billion, in a deal that will see three other ...Published: 21 Feb 2020 at 07:04hrs | 13686 | by Paul Ndou
Zimbabwe de-dollarisation on track, claims RBZ
Zimbabwe is making progress towards enforcing the use of the Zimbabwe dollar as the sole legal tender, after 189 million transactions valued at $459,6 billion were completed using local currency last ...Published: 18 Feb 2020 at 05:34hrs | 304 | by Staff reporter
Biti sucked in dodgy fuel deal
Mine Oil and Gas Services, which of late has been making futile attempts to build a second pipeline in Zimbabwe was a project meant to bankroll the opposition, official documents have revealed....Published: 15 Feb 2020 at 15:37hrs | 6696 | by Staff reporter
Mthuli Ncube to start publishing inflation statistics
Zimbabwe will start publishing year-on-year inflation statistics from this month, with the February 2019 to February 2020 figure expected next month. This follows the building of data on prices in the...Published: 14 Feb 2020 at 05:52hrs | 151 | by Staff reporter
MOGS fuel deal: An MDC project
NEW details are emerging regarding Mine Oil and Gas Services (MOGS), which of late has been making futile attempts to build a second pipeline in Zim...Published: 13 Feb 2020 at 21:51hrs | 2379 | by Paul Ndou
No rescue for marooned Binga families
FOUR days after the Binga flash floods, government is still battling to rescue the estimated 21 marooned and displaced families.Information minister Monica Mutsvangwa told a post-Cabinet Press bri...Published: 13 Feb 2020 at 08:07hrs | 1322 | by Eddie Cross
The challenge of change
The only really universal truth about our small blue globe spinning in space is that we all have to manage change. Some changes are inevitable — somehow the creator of life gave us a limited lifespa...Published: 13 Feb 2020 at 07:57hrs | 524 | by Eddie Cross
Mutsvangwa feud with Tagwirei exposed
The feud between Christopher Mutsvangwa, Eddie Cross with business tycoon Kuda Tagwirei is centred on the failure by the two to bring the businessman to support MOGS Oil & Gas Services' bid to tak...Published: 12 Feb 2020 at 11:59hrs | 9762 | by Staff reporter
US$17.7 million loan blocked foreigners from Feruka pipeline
The US$17.7 million loaned to government by business tycoon Kuda Tagwirei in 2018 blocked foreigners from taking over controlling stake in the Feruka pipeline.This emerged at a time when Zanu ...Published: 12 Feb 2020 at 09:45hrs | 1126 | by Paul Ndou
Mnangagwa's apocalyptic end as Zimbabwe President
BERLIN - President Emmerson Mnangagwa, is reportedly going to be viciously toppled from power in a catastrophic manner, that will include a combination of mass civil revolts and militia-like insurrect...Published: 07 Feb 2020 at 11:14hrs | 23041 | by Itai Mushekwe
Why does the oil industry attract much corruption?
I HAVE a long indirect association with the oil business. My father joined the Atlantic Oil Company in the early years of the last century and rose through the ranks, eventually becoming a senior exec...Published: 07 Feb 2020 at 06:00hrs | 665 | by Eddie Cross
Cash shortages persist
While premiums paid to access cash have dropped from the lofty levels of around 50 percent prior to the injection of additional cash in November last year, they remain high at 30 percent due to the ac...Published: 26 Jan 2020 at 06:12hrs | 165 | by Staff reporter
All that glitters is not gold
I AM not sure of the details but around the year 2000, a geological exploration team found alluvial diamonds at Marange in Zimbabwe. They cut trenches and did further exploration for a number of years...Published: 23 Jan 2020 at 06:34hrs | 1008 | by Eddie Cross
Zimbabwe economy to contract by 5.5% says UN
Zimbabwe's economy will register a negative growth of 5.5% and 2.5% in 2019 and 2020 respectively owing to foreign currency shortages, elevated public debt and uncontrolled inflation, a recent report ...Published: 20 Jan 2020 at 05:54hrs | 1614 | by FinX
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