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Mines and RBZ in crunch talks over forex retention
The Chamber of Mines of Zimbabwe has initiated fresh negotiations with the Reserve Bank of Zimbabwe (RBZ) to review the current foreign currency retention framework, citing growing concerns over worse...Published: 17 hrs ago | 57 | by Staff reporter
Mines and RBZ in crunch talks over forex retention
The Chamber of Mines of Zimbabwe has initiated fresh negotiations with the Reserve Bank of Zimbabwe (RBZ) to review the current foreign currency retention framework, citing growing concerns over worse...Published: 17 hrs ago | 32 | by Staff reporter
IMF withholds Zimbabwe reform programme
The International Monetary Fund (IMF) has signalled that Zimbabwe's much-anticipated Staff Monitored Programme (SMP) - a critical step in the country's economic reform and debt resolution strategy - w...Published: 20 Jun 2025 at 07:39hrs | 2216 | by Staff reporter
30% surrender requirement sparks export concerns
The Zimbabwean export sector, a vital source of foreign currency and a key pillar of economic stability, is expressing growing concern over the Reserve Bank of Zimbabwe's (RBZ) recent increase in the ...Published: 17 May 2025 at 12:05hrs | 153 | by Staff reporter
Zimbabwe's 2024 foreign currency receipts top US$13bn
Zimbabwe's foreign currency inflows grew by 21 percent in 2024, reaching US$13.3 billion compared to US$11 billion in 2023, driven primarily by an increase in export proceeds, according to the Reserve...Published: 12 Feb 2025 at 06:35hrs | 261 | by Staff reporter
Zimbabwe central bank speaks on retailers
The Reserve Bank of Zimbabwe (RBZ) has dismissed claims by registered retailers that the country's economic environment is to blame for their operational challenges, pointing instead to gross mismanag...Published: 08 Feb 2025 at 12:30hrs | 184 | 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 central bank cuts exporter retention threshold
The Reserve Bank of Zimbabwe (RBZ) has reduced exporters' foreign currency retention threshold from 75% to 70% as part of efforts to promote the use of the domestic currency, the Zimbabwe Gold (ZiG), ...Published: 07 Feb 2025 at 06:34hrs | 186 | by Staff reporter
ZiG needs to be backed by RBZ discipline
According to the Reserve Bank of Zimbabwe (RBZ), a structured currency is a currency that is pegged to a specific exchange rate or currency basket and backed by a bundle of foreign exchange assets lik...Published: 16 Apr 2024 at 18:04hrs | 2 | by Zimbabwe Coalition on Debt and Development
Half ZiG and coins to start circulating on April 30
The Reserve Bank of Zimbabwe (RBZ) in the 2024 Monetary Policy Statement introduced a new "structured currency" termed ZiG (Zimbabwe Gold) on April 5. A "structured currency" is a currency tha...Published: 07 Apr 2024 at 21:08hrs | 12 | 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
Zimbabwe foreign currency receipts up US$5,5 billion
ZIMBABWE's foreign currency receipts reached US$5, 5 billion in the first half of 2023 driven by exports and diaspora remittances among other top earners, the Reserve Bank of Zimbabwe (RBZ) latest Mon...Published: 27 Aug 2023 at 09:51hrs | 3 | by Staff reporter
Remittances anchor Zimbabwean economy
THE World Bank recently released global diaspora remittance statistics, which show that expatriates from low and middle-income countries sent over US$647 billion to their home countries in 2022....Published: 07 Jul 2023 at 07:52hrs | 15 | by Victor Bhoroma
Why Mnangagwa blocked Mthuli Ncube's export tax
PRESIDENT Emmerson Mnangagwa recently blocked Finance minister Mthuli Ncube's 10% tax on mining exports to pay arrears on the country's debt overhang - which makes it difficult for the government to b...Published: 02 Jul 2023 at 17:27hrs | 23 | by Staff reporter
Why Mnangagwa failed to improve Zim's economic prospects
IT is now more than five years since President Emmerson Mnangagwa assumed power with a mandate from his backers to improve the country's economic fortunes, the nemesis of his predecessor, Robert Gabri...Published: 29 Jun 2023 at 06:29hrs | 17 | by Martin Majaji
Zimbabwe central bank resorts to market determined exchange rate
THE Reserve Bank of Zimbabwe has announced a range of measures to stabilise the exchange rate which include using a market-determined rate to trade foreign currency.The RBZ will from this Wedn...Published: 06 Jun 2023 at 20:05hrs | 7 | by Staff reporter
Zimdollar's black month
THE official auction and interbank exchange rates rose by about 100% and 150%, respectively, last month marking a significant depreciation of the Zimbabwe dollar, a new report has found.At the...Published: 05 Jun 2023 at 06:53hrs | 1 | by Staff reporter
Zimdollar in spectacular crash
THE Zimbabwe dollar crashed by a whopping 60% against the United States dollar in May alone, underlining a raging economic crisis that has wiped salaries and sent prices soaring.Zimbabwe's eco...Published: 02 Jun 2023 at 06:48hrs | 2 | 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
Mthuli Ncube banks on new currency measures
Finance minister Mthuli Ncube on Monday announced new measures to encourage the use of the Zimbabwe dollar as opposed to the U.S. dollar, in a bid to boost the local unit and tame rising consumer infl...Published: 30 May 2023 at 15:10hrs | 2 | by Staff reporter
Mthuli Ncube announces further measures to contain runaway inflation
FINANCE Minister Mthuli Ncube has announced a new series of measures to stabilise the economy amid hyperinflation fears.This comes barely two weeks after the Treasury boss scrapped duty on all...Published: 30 May 2023 at 06:53hrs | 4 | by Staff reporter
Mnangagwa's presidential envoy abuses his position
CHARISMATIC Zimbabwean evangelist and President Emmerson Mnangagwa's special envoy on Trade and Investment, Uebert Angel, is embroiled in a money laundering scandal involving the abuse of diplomatic p...Published: 25 Mar 2023 at 18:24hrs | 4 | by Staff reporter
Zimbabwe's gold output reaches new record high
Zimbabwe's gold output reached a new record high of 35.38 tonnes in 2022, spurred by new mining projects, timely payments and incentives to miners.The output was 19.5 percent up from the previ...Published: 11 Jan 2023 at 16:55hrs | 7 | 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 gold coins start circulating
THE Reserve Bank of Zimbabwe (RBZ) yesterday released the first batch of 2 000 Mosi-oa-Tunya gold coins into the market to provide a store of value alternative to the US dollar in a development expect...Published: 26 Jul 2022 at 06:36hrs | 1 | by Staff reporter
Mthuli Ncube, Mangudya's unenviable task
I do not envy Finance and Economic Development Minister Professor Mthuli Ncube and the Reserve Bank of Zimbabwe Governor Dr John Mangudya.The two gentlemen must be having a torrid time....Published: 24 Jul 2022 at 09:59hrs | 13 | by Victoria Ruzvidzo
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
Monetary policy inconsistency sinking economy
On the 17th of May 2022, the Reserve Bank of Zimbabwe (RBZ) issued a circular cancelling the order announced by the head of state on the suspension of bank lending one week earlier. The head of state ...Published: 08 Jun 2022 at 07:19hrs | 2 | by Victor Bhoroma
Zimdollar tanks to $308,5 against USD at forex auction
THE Zimbabwean dollar further weakened against the United States dollar at the weekly forex auction system on Tuesday where it traded at $308,5 to the green back.Last week the local curr...Published: 02 Jun 2022 at 06:43hrs | 7 | by Staff reporter
Ziyambi Ziyambi challenged over PVOs Bill
JUSTICE minister Ziyambi Ziyambi has been challenged to provide evidence on political interference by non-governmental organisations and that some charities are conduits for sponsoring terrorism and o...Published: 03 May 2022 at 16:02hrs | 2 | by Staff reporter
Towards a market driven foreign exchange market
The Monetary Policy Committee (MPC) of the central bank made a press statement on the 1st of April to address the depreciation of the local currency and manage the rate of inflation in the economy. Th...Published: 12 Apr 2022 at 16:46hrs | 11 | by Victor Bhoroma
US$800m regime change kitty at risk in 2022 NGOs Bill
THE Private Voluntary Organisations Amendment Bill could cost Zimbabwe close to US$800 million in development funding this year – with devastating social and economic consequences – if the governm...Published: 20 Mar 2022 at 06:34hrs | 2 | by Staff reporter
Zimbabwe NGOs job bloodbath, 18 000 jobs on the line
ABOUT 18 000 jobs will be lost if the Private Voluntary Organisations (PVO) Amendment Bill, which seeks to regulate operations of non-governmental organisations (NGOs), is passed into law in its curre...Published: 10 Mar 2022 at 06:20hrs | 3 | by Staff reporter
'NGO Bill to cut 18 000 jobs'
ABOUT 18 000 jobs will be lost if the Private Voluntary Organisations (PVO) Amendment Bill, which seeks to regulate operations of non-governmental organisations (NGOs), is passed into law in its curre...Published: 09 Mar 2022 at 14:21hrs | 5 | by Stephen Jakes
US funded NGOs ban a threat to Zimbabwe?
THE banning of non-governmental organisations through the proposed Private Voluntary Organisations (PVOs) Amendment Bill will have dire economic and political consequences for Zimbabwe that could spir...Published: 09 Mar 2022 at 07:36hrs | | by Staff reporter
Zimbabweans to pay a heavy price for Mnangagwa's proposed draconian law
PRESIDENT Emmerson Mnangagwa has been accused of seeking to sacrifice the lives of millions of people that survive on humanitarian aid by trying to ban non-governmental organisations through a c...Published: 06 Mar 2022 at 08:31hrs | 2 | by Staff reporter
Forex auction market a perfect looting front for the connected
BUSINESSES finally had enough and told the Reserve Bank governor John Mangudya that the Zimbabwe dollar was done as a sustainable currency. They do not want it.Last Wednesday, at a review of t...Published: 14 Feb 2022 at 05:29hrs | 2 | by Staff reporter
We all have role to play in development, says Mnangagwa
Every citizen has a role to play in the economic transformation that is underway, for the improvement of national living standards which should result in the attainment of an empowered and prosperous ...Published: 14 Feb 2022 at 05:23hrs | 4 | by Staff reporter
Pegged exchange rate unsustainable
Zimbabwe's export receipts for the first 9 months of 2021 jumped 38% to US$6.10 billion from US$4.43 billion realized in the same period in 2020. Notable improvements have been realized in internation...Published: 24 Nov 2021 at 10:37hrs | 13 | by Victor Bhoroma
BNC heads for VFEX
BINDURA Nickel Corporation (BNC) is set to delist from the Zimbabwe Stock Exchange (ZSE) next month and switch to the forex-indexed Victoria Falls Stock Exchange (VFEX) under a strategy spelt out by c...Published: 22 Nov 2021 at 06:10hrs | 11 | by Staff reporter
'RBZ assets can't be attached'
The Reserve Bank of Zimbabwe has breathed a sigh of relief after the High Court ruled that the central bank's assets cannot be attached in a lawsuit over more than US$26 million in unsettled debt with...Published: 25 Oct 2021 at 06:22hrs | 1 | by Staff reporter
Sustainable reforms now key to foreign exchange market
The Reserve Bank of Zimbabwe (RBZ) recently announced that it is on course to clear the backlog of foreign exchange auction allotments which date back to as far as three months and amounting to about ...Published: 08 Oct 2021 at 19:03hrs | 12 | by Victor Bhoroma
Forex abusers, money laundering kingpins not deterred by arrests
Foreign currency abusers and money laundering kingpins continue to defy the law despite recent arrests, a situation that has resulted in the eroding of incomes and unnecessary suffering.The ex...Published: 06 Oct 2021 at 05:46hrs | 15 | by Staff reporter
Zimbabwe foreign currency receipts jump to US$5bn
ZIMBABWE'S foreign currency receipts have risen by 32 percent to US$5,09 billion in the last eight months against US$3,85 billion received in the corresponding period last year. The bulk of th...Published: 09 Sep 2021 at 06:11hrs | 10 | by Staff reporter
Africa is not as bad as is portrayed by media
I AM really concerned about the role of mass media in this century. Firstly, because there is so much of it, secondly, because it can easily distort perceptions and understanding of what is really goi...Published: 20 Aug 2021 at 07:14hrs | | by Eddie Cross
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