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Zimbabwe gold reserves rises 12%
The Reserve Bank of Zimbabwe (RBZ) has announced that its gold reserves have grown by 12% to over 3.1 tonnes since March this year, bolstering the country's efforts to build a more stable foreign exch...Published: 06 Jun 2025 at 12:06hrs | 108 | by Staff reporter
ZNCC to hold annual congress in June
The Zimbabwe National Chamber of Commerce (ZNCC) will hold its highly anticipated annual congress from June 25 to 28 in Victoria Falls, aiming to foster inclusive economic growth, improve the bu...Published: 16 May 2025 at 10:29hrs | 79 | by Staff reporter
Zimbabwe manufacturing sector faces challenges
Industry and Commerce Minister Nqobizitha Ndlovu has called for urgent action to address the challenges stifling the competitiveness of Zimbabwe's manufacturing sector, after new findings revealed tha...Published: 16 Apr 2025 at 23:23hrs | 129 | by Staff reporter
Gold deliveries fall by 18% in February
Fidelity Gold Refinery (FGR) has reported an 18.06% decline in gold deliveries, with total deliveries falling to 2,568.2544 kilograms (kgs) last month, compared to 3,134.3456kgs in January. The declin...Published: 07 Mar 2025 at 07:00hrs | 58 | by Staff reporter
Zimbabwe central bank goes after informal traders forex, exporters' proceeds
The Reserve Bank of Zimbabwe (RBZ) has announced a further reduction in export retention proceeds, cutting them by an additional 5%, as part of measures aimed at boosting foreign currency reserves and...Published: 07 Feb 2025 at 06:43hrs | 1184 | by Staff reporter
Zimbabwe's structured currency launch on Friday
IN a bid to address currency volatility and exchange rate-driven inflation badly battering the economy amid arbitrage, the Zimbabwean government will next week launch a "structured currency" which the...Published: 31 Mar 2024 at 20:50hrs | 2 | by Staff reporter
Zimbabwe forex policy chokes exporters
LISTED agricultural concern Ariston Holdings says the 25% export retention coupled with the huge disparity between the interbank exchange rate and the fair market rate used by suppliers is making some...Published: 31 Jan 2024 at 06:59hrs | 1 | by Staff reporter
Sanctions eroding value of Zimdollar
The depreciation of the Zimbabwe dollar is partly due to illegal economic sanctions imposed on the country by Western countries, the African Development Bank (AfDB) said in its African Economic Outloo...Published: 29 May 2023 at 06:30hrs | 1 | by Staff reporter
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
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 | 28 | by Staff Reporter
Government policy destroying the formal economy
Policy missteps and inconsistency has turned the Zimbabwean economy on its head against the formal sector, posing a threat to business continuity, domestic resource mobilization and formal employment....Published: 16 Dec 2022 at 00:06hrs | 9 | by Victor Bhoroma
Tough foreign exchange regime suffocating economy
Zimbabwe's broad money supply has grown from just under ZW$364,60 billion as of September 2021 to more than ZW$1,920 trillion as of September 2022. This represents growth of over 426% over a period of...Published: 16 Dec 2022 at 00:02hrs | 3 | by Victor Bhoroma
Policy flaws chasing Forex from the formal market
It is estimated that US$2.5 billion is circulating outside the formal banking system in Zimbabwe with households, businesses and foreign investors preferring to store their hard-earned foreign currenc...Published: 11 Aug 2022 at 12:05hrs | 15 | by Victor Bhoroma
Assessing the US$12 billion mining industry target
The Zimbabwean government launched an ambitious plan to transform the mining sector into a US$12 billion export industry by end of 2023. The plan was launched in October 2019 as a key pillar to sustai...Published: 11 Aug 2022 at 12:01hrs | 6 | by Victor Bhoroma
Zimbabwe central bank hikes interest rates to 200%
THE Reserve Bank of Zimbabwe (RBZ) on Monday hiked interest rates from 80% to 200% in a bid to block cheaper speculative borrowing which has adverse effects on exchange rates.The developments ...Published: 27 Jun 2022 at 19:08hrs | 12 | by Staff reporter
RBZ to introduce gold coins, hikes interest rates
RESERVE Bank of Zimbabwe (RBZ) says it will be introducing gold coins as part of measures to ensure investors and the general public have alternative means to preserve value, cushioning them from the ...Published: 27 Jun 2022 at 19:05hrs | 15 | by Staff reporter
Zimbabwe trade deficit hits US$34bn as industrialisation flops
ZIMBABWE has since 2002 accumulated a trade deficit of more than US$34 billion, a clear indication that the country's industrialisation-led import-substitution programmes have failed, new data show....Published: 11 Jun 2022 at 09:31hrs | 11 | by Staff reporter
Monetary Policy Analysis
The Reserve Bank of Zimbabwe (RBZ) presented its first monetary policy statement for 2022 on the 7th of February. The monetary policy comes after a 53.5% surge in foreign currency receipts from US$6.3...Published: 23 Feb 2022 at 19:41hrs | 13 | by Victor Bhoroma
'Dollarisation is not a panacea'
Returning to dollarisation is "not a panacea" to the challenges facing the economy, but Zimbabweans need to embrace broader use of the local currency and foster market discipline in order to consolida...Published: 08 Feb 2022 at 05:36hrs | 17 | by Staff reporter
RBZ tightens monetary policy to stem inflationary pressures
THE Reserve Bank of Zimbabwe (RBZ) has tightened its monetary policy framework to stem resurgent inflationary pressures while promoting increased usage of the local dollar.The key measures inc...Published: 07 Feb 2022 at 21:18hrs | | by Staff reporter
Mthuli Ncube defends crumbling Zimdollar
FINANCE minister Mthuli Ncube has ruled out a return to dollarisation, as he maintained that huge pockets of the market required the free falling domestic unit.In an interview with Standardbus...Published: 06 Feb 2022 at 06:57hrs | 3 | by Staff reporter
Govt moves to promote use of Zimdollar
THE Government has instituted measures to promote wider use of the Zimbabwe dollar in transacting, which will see some exporters settling up to 50 percent of their taxes in local currency.Trea...Published: 04 Feb 2022 at 21:24hrs | 1 | by Staff reporter
Zimbabwe coal miners get nod to export excess stock
Zimbabwe's coal producers have obtained temporary permits to export excess stock of power coal that have piled up due to low uptake by the Zimbabwe Power Company (ZPC).Frequent breakdowns at Z...Published: 01 Oct 2021 at 07:52hrs | 10 | by Staff reporter
Zimbabwe tobacco surpasses expectations, but farmers need better deal
ZIMBABWE has this year enjoyed one of its most productive tobacco seasons, but poor payment models for the farmers caused by the currency volatility left many farmers at the mercy of contract buyers....Published: 23 Aug 2021 at 06:52hrs | | by Staff reporter
World Bank predicts 3,9% growth
ZIMBABWE'S economy will grow by 3,9% this year, underpinned by a good agricultural season and an inflationary slowdown, the World Bank (WB) predicted yesterday.However the global lender warned...Published: 11 Jun 2021 at 07:36hrs | 2 | by Staff reporter
RioZim gold output falls 27%
LOW ore grade at the Zimbabwe Stock Exchange-listed gold producer RioZim's flagship unit Cam&Motor Mine saw the firm's total output tumble by 27% during the year ended December 31, 2020, said the ...Published: 11 Apr 2021 at 06:44hrs | 3 | by Staff reporter
Proudly made in Zimbabwe
The advent of globalization has demonstrated that each country has expertise in a certain trade and there are commodities that resonate with certain countries more than others. It is often argued that...Published: 02 Feb 2021 at 00:25hrs | 5 | by Victor Bhoroma
Economic growth stimulus precedes taxation
Zimbabwe's 2021 national budget paints a picture of sustained austerity in the mid-term, with increases in taxes for various sectors of the depressed economy. A 126% jump in budgeted tax revenue colle...Published: 22 Dec 2020 at 19:28hrs | 12 | by Victor Bhoroma
What the latest IMF report on Zimbabwe means
In the report, the International Monetary Fund (IMF) acknowledges the commitment by President Emmerson Mnangagwa's government to stabilise Zimbabwe's economy.The fund also reveals that the IMF...Published: 05 Jun 2019 at 08:01hrs | | by newZWire
'Black market can't determine forex rates'
Government cannot allow itself to be influenced by the black market in determining foreign exchange rates on interbank transactions as the parallel market is run by a few individuals transacting on no...Published: 12 Mar 2019 at 05:44hrs | | by Staff rpeorter
Gold miners want payments in rand
SMALL-scale miners say the Reserve Bank of Zimbabwe (RBZ) should consider paying them using the rand given that the country is facing challenges in sourcing United States dollars after South African b...Published: 03 Mar 2019 at 10:51hrs | 1 | by Staff reporter
Reserve Bank of Zimbabwe mulls incentive for small gold producers
Reserve Bank of Zimbabwe (RBZ) Governor Dr John Mangudya has said the central bank is looking at recommendations made by small-scale gold miners for an incentive they need to maintain viability of ope...Published: 02 Mar 2019 at 10:05hrs | 1 | by Staff Reporter
Zimbabwe black market forex rate should drop to 60%
THE eagerly anticipated Monetary Policy Statement (MPS) for 2019 was finally delivered by the Reserve Bank of Zimbabwe (RBZ) governor John Mangudya on Wednesday this week, the same day the budget stat...Published: 22 Feb 2019 at 09:09hrs | | by Brett Chulu
Mangudya formally devalues the bond...introduces new currency
The RBZ officially introduced a new currency despite days of denial by the Zanu PF government including the Ministry of Finance and the RBZ.Again the Monetary statement fails to deal with the ...Published: 21 Feb 2019 at 06:38hrs | | by Jacob Mafume
Tendai Biti speaks on today's monetary policy statement
Former Minister of finance Tendai Biti says today's Monetary Policy Statement should devalue the Bondnotes and strengthen the multi currency regime that was introduces in 2009.Reserve Bank of ...Published: 20 Feb 2019 at 08:58hrs | 4 | by Mandla Ndlovu
Measures to foster price stability
THE Reserve Bank of Zimbabwe (RBZ) has given banks until mid this month to create separate foreign currency accounts for nostro and real time gross settlement (RTGS) accounts as part of measures to pr...Published: 02 Oct 2018 at 09:36hrs | 1 | by Staff reporter
RBZ gives banks ultimatum
THE Reserve Bank of Zimbabwe (RBZ) has given banks until mid this month to create separate nostro (external bank) foreign currency accounts (FCAs) and real time gross settlement (RTGS) FCA accounts, a...Published: 02 Oct 2018 at 07:18hrs | 3 | by Staff Reporter
RBZ negotiates $500m facility to buttress FCAs
The Reserve Bank of Zimbabwe is finalising discussions with the African Export-Import Bank towards a US$500 million Nostro Stabilisation Guarantee Facility to provide foreign currency account (FCA) ho...Published: 01 Oct 2018 at 22:21hrs | | by Staff reporter
Biti sticks the boot into Mugabe-led govt
Former Finance minister Tendai Laxton Biti has no kind words for President Robert Mugabe's government which he said cannot be expected to fix Zimbabwe's problems and he tells Deputy Chief Writer Tenda...Published: 21 Oct 2017 at 15:04hrs | 1 | by Staff reporter
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