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'Gold to Zimbabwe what oil is to Nigeria, can turn around our fortunes' - not whilst US$1.2b p.a. lost to smugglers
On 3 March 2016 President Mugabe admitted that the nation had lost $15 billion worth of diamonds because of the looting and plunder in Marange and Chiadzwa."This kind of plunder must immediate...Published: 27 Feb 2021 at 09:42hrs | 451 | by Patrick Guramatunhu
New RBZ Monetary Policy Committee members named
Finance and Economic Development Minister, Professor Mthuli Ncube, on Sunday, appointed five new members to the Reserve Bank of Zimbabwe Monetary Policy Committee (MPC). The new members,...Published: 23 Feb 2021 at 06:42hrs | 1107 | by Staff reporter
Zimbabwe's $50 note imminent
Zimbabwe announced on Thursday that it would shortly introduce a $50 note, while raising cash withdrawal limits to Z$2,000 per day from Z$1,000.The central bank also lifted its main lending ra...Published: 21 Feb 2021 at 22:30hrs | 1659 | by Staff reporter
Top banker Jinya makes grand return
IT is an appointment that many least expected. But ex-Nedbank managing director (MD) Charity Jinya made a surprise return to the country's banking industry on Saturday after Finance minister Mthuli Nc...Published: 21 Feb 2021 at 21:43hrs | 1751 | by Staff reporter
Zimbabwean banks strike forex auction settlement deal
ZIMBABWE's banking system has agreed to settle funds allocated at the foreign currency auction system within two weeks, central bank governor John Mangudya has said.Introduced in June 2020 to ...Published: 21 Feb 2021 at 07:06hrs | 1252 | by Staff reporter
Eddie Cross quits
LEADING economist Eddie Cross has quit his role as a member of the Reserve Bank of Zimbabwe (RBZ)'s Monetary Policy Committee (MPC) less than two years into the role, Zimbabwe Independent reported....Published: 19 Feb 2021 at 07:14hrs | 7062 | by Staff reporter
Was November 2017 a false start for Zimbabwe?
THEN there was the incident in New York on 9/11, I drove into the garden of my daughter and her husband and they shouted at me to come and see what was happening.I walked into the house and sa...Published: 17 Feb 2021 at 20:19hrs | 1096 | by Eddie Cross
'Forex enough to stabilise rate'
The exchange rate of the Zimbabwean dollar against the US dollar will continue to hold steady on the weekly auction market because the country is earning enough forex to support critical imports, the ...Published: 12 Feb 2021 at 05:34hrs | 374 | by Staff reporter
RBZ still optimistic about low inflation
Reserve Bank of Zimbabwe Governor, Dr John Mangudya, remains confident authorities will be able to maintain a lid on prices to curtail potential relapse into runaway inflation, following worrying incr...Published: 10 Feb 2021 at 05:29hrs | 211 | by Staff reporter
State entities dominate forex allocations, says Cross
STATE firms and government departments are collecting a significant amount of funds allocated at the Reserve Bank of Zimbabwe (RBZ)'s foreign currency auction system weekly, crowding out the private s...Published: 29 Jan 2021 at 07:03hrs | 803 | by Staff reporter
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 | 3884 | by Dr Tim Rainhard
Consortium secretly inspects CSC assets
FRESH details have emerged revealing how a consortium of local industrialists and companies - CSC (2016) - is angling to take over the defunct Cold Storage Company (CSC) through a US$225 million bid....Published: 22 Jan 2021 at 06:48hrs | 970 | by Staff reporter
'Zimbabwe printing $1 billion weekly to buy gold'
FORMER legislator and Monetary Policy Committee member Eddie Cross has made sensational claims that the Reserve Bank of Zimbabwe (RBZ) was printing $1 billion weekly mainly to buy gold.At the ...Published: 21 Jan 2021 at 06:46hrs | 3197 | by Staff reporter
Local firms vie for CSC
A CONSORTIUM of local companies and industrialists are seeking to seize a 75% stake in the defunct Cold Storage Company (CSC) after tabling a US$225 million investment proposal to the government....Published: 15 Jan 2021 at 07:46hrs | 775 | 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 | 998 | by Staff reporter
Zimbabwe pins hopes on 2021
THE year 2020 ends this week amid renewed optimism among Zimbabweans for a brighter new year, predicated on the emerging economic stability and hope for a robust lift off.For most Zimbabweans,...Published: 27 Dec 2020 at 06:59hrs | 226 | by Staff reporter
Mthuli Ncube should increase 2% tax to 5%, says Eddie Cross
ECONOMIST Eddie Cross Friday left business executives and other invited guests at the CEO Africa Roundtable in Harare, in shock after he proposed that Finance Minister Mthuli Ncube must increase trans...Published: 05 Dec 2020 at 06:23hrs | 2466 | by Staff reporter
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 | 4668 | 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 | 2786 | 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 | 344 | 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 | 11637 | 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 | 3079 | 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 | 232 | 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 | 1982 | 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 | 5815 | 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 | 1981 | 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 | 1958 | 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 | 1672 | 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 | 370 | 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 | 6529 | 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 | 10225 | 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 | 1079 | 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 | 3502 | 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 | 4290 | 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 | 376 | 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 | 1507 | 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 | 1472 | 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 | 1727 | 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 | 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
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 | 1954 | 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 | 1375 | 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 | 955 | 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 | 16345 | 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 | 1223 | 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 | 628 | 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 | 14104 | 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 | 1222 | by Staff reporter
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