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Unpacking floating of exchange rate by Zimbabwe
The Governor of the Reserve Bank of Zimbabwe (RBZ) Dr Mangudya in his monetary policy statement liberalised the exchange rate that is, departing from the 1:1 position of the bond notes or real time gr...Published: 11 hrs ago | 804 | by Dr Mugano
Nespresso to launch first Zimbabwe coffee
NESPRESSO, a coffee company wholly-owned by Nestlé, is set to launch its first Zimbabwean coffee in 15 countries in May this year, a company official has said.Nestlé Zimbabwe last year launc...Published: 13 hrs ago | 325 | by Staff reporter
People of Zimbabwe deserve a new day
ON Wednesday this week, Reserve Bank of Zimbabwe (RBZ) governor John Mangudya presented a long-awaited monetary policy statement.This had been expected in January and was postponed several tim...Published: 13 hrs ago | 876 | by Eddie Cross
Employers not worried by bond notes, RTGS devaluation
The floating of RTGS dollars will have minimum effect on employers despite the rising inflation, which reached record levels since the introduction of the multi-currency regime 10 years ago, an employ...Published: 21 Feb 2019 at 21:02hrs | 1939 | by Staff reporter
'Monetary Policy Statement will bring sanity' says RBZ Governor - will not and never will as long as insane rule the roost
The primary objective of the Reserve Bank of Zimbabwe's (RBZ) long awaited Monetary Policy Statement was to bring sanity to Zimbabwe's chaotic economic world, especially the madness in financial and c...Published: 21 Feb 2019 at 09:14hrs | 1108 | by Nomusa Garikai
'Zimdollar returns'
THE Reserve Bank of Zimbabwe (RBZ) has effectively brought back the local currency after denoting the existing electronic balances, bond notes and coins in circulation as real time gross settlement (R...Published: 21 Feb 2019 at 07:13hrs | 1661 | by Staff reporter
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 | 2162 | by Jacob Mafume
Zimbabwe abandons the 1:1 rate
The Reserve Bank of Zimbabwe (RBZ) will introduce Foreign Currency Accounts (FCAs) that will be utilising the real time gross settlement system (RTGS) by the end of this month. This comes as t...Published: 20 Feb 2019 at 22:37hrs | 806 | by Staff reporter
The current monetary policy review will worsen current fiscal imbalances
Background and Review It was trajectory, forex premiums is hurting Zimbabweans and hostile to business environment. FCA accounts have yielded positive r...Published: 20 Feb 2019 at 17:25hrs | 3826 | by Tinashe Eric Muzamhindo
Full RBZ Monetary Policy statement.
THE Reserve Bank of Zimbabwe (RBZ) has liberalised the US dollar exchange rate against real time gross settlement balances (RTGS), bond notes and all currencies in the multi-currency basket, as i...Published: 20 Feb 2019 at 14:48hrs | 5799 | by RBZ
It's squeaky bum time for unsung Mangudya
Like many Manchester United fans around the world missing the good old days, I also regularly find myself reminiscing about the managerial prowess of Sir Alex Ferguson, whose inimitable success at one...Published: 19 Feb 2019 at 17:13hrs | 2994 | by Guthrie Munyuki
All eyes on Mangudya
THE governor of the Reserve Bank of Zimbabwe (RBZ) Dr John Mangudya will tomorrow (Wednesday) release the long-awaited Monetary Policy Statement (MPS). And on Friday, Mangudya will meet various stakeh...Published: 19 Feb 2019 at 17:09hrs | 3600 | by Staff reporter
Zimbabwe FCA deposits hit US$600m
The decision to separate real time gross settlement (RTGS) foreign currency accounts from actual United States dollar accounts is beginning to pay dividends amid indications that deposits for the latt...Published: 18 Feb 2019 at 23:05hrs | 2903 | by Staff reporter
2,4m Zimbabweans food insecure as drought, rising costs bite
The 150% fuel price hike that sparked mass public unrest across Zimbabwe last month sent the cost of living skyrocketing: the price of bread nearly doubled in a week.Worse is likely to come....Published: 18 Feb 2019 at 07:14hrs | 235 | by IRIN
3 reasons why it's all going wrong for Mnangagwa
HOW did things turn so bad for Zimbabwe's President Emmerson Mnangagwa?He won the disputed July 30 2018 elections, but even before the results were officially announced, protesters were being ...Published: 18 Feb 2019 at 07:09hrs | 1083 | by Stephen Chan
We can import knowledge, technology to boost the economy
AS our government continues with the belief that borrowing money is one of the means to kickstart the economy, perhaps they can be reminded that they can also import new knowledge and technology, whic...Published: 18 Feb 2019 at 07:06hrs | 106 | by Tapiwa Gomo
Pre-monitory policy statement expectations
Expectations are high as the market awaits the presentation of the first monitory policy statement (MPS) of 2019 by the Reserve Bank of Zimbabwe in the coming days. The bank knows the weight of hyperi...Published: 17 Feb 2019 at 22:58hrs | 1033 | by Victor Bhoroma
RBZ not ready for Zimdollar return
Speculation that the Reserve Bank of Zimbabwe (RBZ) is readying itself to reintroduce the demonitised local currency gained momentum last week when former Finance minister Tendai Biti tweeted that the...Published: 17 Feb 2019 at 07:59hrs | 1079 | by Staff reporter
Mangudya walks out of meeting with Mthuli Ncube
THERE was high drama after Reserve Bank of Zimbabwe (RBZ) governor John Mangudya, in a fit of rage, tossed paper files at Finance minister Mthuli Ncube and walked out of a meeting, angrily slamming th...Published: 15 Feb 2019 at 15:37hrs | 19185 | by Staff reporter
Prophet Magaya and wife did not pay tax on mega salaries
Prophetic Healing and Deliverance Ministries founder Prophet Walter Magaya is paid $40,000 per month, a court heard on Friday.Between January 2013 and December 2017, Magaya netted $2,4 million...Published: 15 Feb 2019 at 14:46hrs | 10836 | by ZimLive
Calls for Zimbabwe to join Rand Monetary Union grow
Zimbabwe must seriously look into the possibility of joining the Rand Monetary Union as the central bank mulls introducing a fresh monetary policy tool to alleviate foreign currency shortages, the hea...Published: 15 Feb 2019 at 14:44hrs | 3289 | by Staff reporter
Ncube, Mangudya policy tussle on monetary policy statement
POLICY efficacy doubts - both fiscal and monetary - in supporting a liberalised foreign currency market, effectively discarding the 1:1 US dollar-bond note/RTGS dollar peg, have arguably been the main...Published: 15 Feb 2019 at 08:27hrs | 512 | by Brett Chulu
10 point plan to save Zimbabwe
Founder of the Coalition for Market and Liberal Solutions (COMALISO) Rejoice Ngwenya says Zimbabwe needs to adopt liberal economics for it to be extricated from its current problemsNgwen...Published: 13 Feb 2019 at 12:35hrs | 4732 | by Mandla Ndlovu
Mthuli Ncube shoots down Biti's fear mongering attempt
FORMER Finance minister Tendai Biti yesterday sensationally claimed that government was planning to reintroduce a local currency this week, describing the purported move as "pure undiluted insanity"....Published: 12 Feb 2019 at 07:32hrs | 978 | by Staff reporter
RioZim halts operations again as RBZ defaults on forex payment
One of the country's leading gold producers, RioZim, has yet again stopped operations at three of its mines - Cam and Motor, Dalny and Renco - citing non-payment by the Reserve Bank of Zimbabwe (RBZ) ...Published: 10 Feb 2019 at 06:16hrs | 290 | by Staff reporter
'Zimbabwe to introduce domestic currency'
Zimbabwe will reintroduce domestic currency only when conditions are ripe and critical economic fundamentals are in place since using the US dollar as an anchor currency is now unsustainable, accordin...Published: 08 Feb 2019 at 09:04hrs | 7073 | by Business weekly
Mangudya expected to tackle fiscal rot
CENTRAL bank chief John Mangudya will have to make bold monetary policy decisions or risk the country sliding back into hyperinflation, analysts say.Mangudya, who is yet to present his much-an...Published: 08 Feb 2019 at 08:51hrs | 1750 | by Staff reporter
'Cement pricing aligned with inflationary rise'
LEADING cement manufacturer, Pretoria Portland Cement (PPC), says despite the difficult trading conditions, average cement prices in the Southern Africa region last year increased marginally by betwee...Published: 06 Feb 2019 at 22:42hrs | 3060 | by Staff reporter
Mnangagwa threw caution to the wind
President Emmerson Mnangagwa ignored advice from a South Africa-based local businessman that a wage hike was the best way to deal with public sector union grievances, and that a failure to award an in...Published: 06 Feb 2019 at 15:41hrs | 6351 | by Staff reporter
Zimbabwe economic revival: none but ourselves
"Government must create jobs for us, we want our hospitals to be top notch medical facilities, we want to eat what we want anytime, there is no bread on the shelves, all our roads should be tarred, ha...Published: 06 Feb 2019 at 10:25hrs | 938 | by Elijah Chihota
Economic stability by June: Cross
Zimbabwe has firm macro-economic fundamentals, notwithstanding current challenges, and the introduction of a new currency will further enhance stability, according to economist Mr Eddie Cross. ...Published: 06 Feb 2019 at 07:59hrs | 929 | by Staff reporter
WATCH: Bond note is the strongest 'currency' in the SADC, says Eddie Cross
"The underlying economy is growing. Exports are growing. The fundamentals are strong. The bond note is the strongest 'currency' in the SADC region because it is a currency. This indicates the underlyi...Published: 05 Feb 2019 at 14:42hrs | 6134 | by Staff reporter
Mnangagwa sets conditions for dialogue with Chamisa
President Emmerson Mnangagwa, pictured, has denied reports suggesting that all is not well between him and Vice President Constantino Chiwenga, the Daily News can report.Speaking to journalist...Published: 01 Feb 2019 at 14:32hrs | 17697 | by Staff reporter
A black diamond curse for Mutoko
The paradox of resource abundance typically explains the case of black granite mining in Mutoko, Mashonaland East Province of Zimbabwe. The area is home to the best black granite rock highly demanded ...Published: 01 Feb 2019 at 14:32hrs | 3207 | by Victor Bhoroma
The death of Zimbabwean economic giants
The market landscape of any country is shaped by a few companies that underpin socio-economic activities of that particular nation. These companies are mirrored on the competitive advantages that the ...Published: 01 Feb 2019 at 14:16hrs | 813 | by Victor Bhoroma
Trade deficit widens
ZIMBABWE recorded a trade deficit of $2,3 billion in the period between February and December 2018, latest trade data has shown.Figures released by the Zimbabwe National Statistics Agency (Zim...Published: 29 Jan 2019 at 08:39hrs | 733 | by Staff reporter
Can currency reforms save the Zimbabwean economy?
There is no doubt that the unresolved currency issue lies at the heart of Zimbabwe's economic meltdown in the past 3 years and the price distortions in the local market. The origins of the currency cr...Published: 28 Jan 2019 at 16:46hrs | 1517 | by Victor Bhoroma
Enter the dragon: The rise of China
The most remarkable economic turnaround story of the 21st century undoubtedly belongs to the People's Republic of China. As the country marks the 40th anniversary of economic reforms and opening, the ...Published: 28 Jan 2019 at 16:43hrs | 1546 | by Victor Bhoroma
Snacks maker turns to local materials
SNACKS manufacturer Davipel Holdings says it has reduced its foreign currency requirements by using locally available raw materials.Davipel has been importing most of its raw materials, which ...Published: 28 Jan 2019 at 10:41hrs | 328 | by Staff reporter
Foreign drug manufacturers cut off supplies to Zimbabwe
THE pharmaceutical sector in Zimbabwe owes foreign suppliers more than $39 million for imported raw materials as well as finished products, resulting in supplies to the southern African country being ...Published: 25 Jan 2019 at 08:17hrs | 845 | by Staff reporter
Can currency reforms save the Zimbabwean economy?
There is no doubt that the unresolved currency issue lies at the heart of Zimbabwe’s economic meltdown in the past 3 years and the price distortions in the local market. The origins of the currency ...Published: 21 Jan 2019 at 14:11hrs | 3471 | by Victor Bhoroma
Enter the dragon: The rise of China
The most remarkable economic turnaround story of the 21st century undoubtedly belongs to the People's Republic of China. As the country marks the 40th anniversary of economic reforms and opening, the ...Published: 21 Jan 2019 at 14:10hrs | 2451 | by Victor Bhoroma
'Zimbabwe electricity imports to continue until 2027'
Zimbabwe is expected to continue relying on electricity imports for the next eight years due to lack of investment in the sector, a leading international think-tank has said.The southern Afric...Published: 21 Jan 2019 at 12:46hrs | 223 | by Staff reporter
Mnangagwa's minister distances self from fuel crisis
Energy and Power Development minister Joram Gumbo yesterday said his ministry was doing its part bringing plenty of fuel into the country but government, through the Finance ministry, was failing to b...Published: 20 Jan 2019 at 09:45hrs | 1601 | by Staff reporter
Internet shutdown costs govt millions of dollars
THE government lost millions of dollars through delayed revenue inflows due to the slow processing of imports and exports after the switching off internet services countrywide.Government threw...Published: 20 Jan 2019 at 09:42hrs | 829 | by Staff reporter
ZimTrade aims to increase exports by 10%
TRADE and export promotion body ZimTrade has projected to increase exports of value-added goods and services by 10 percent this year through lining-up various promotional programmes aimed at encouragi...Published: 20 Jan 2019 at 09:28hrs | 73 | by Staff reporter
Bulawayo hardest hit by the terror attacks
MORE than 300 suspected looters have been arrested in Bulawayo as police have intensified the hunt for hooligans who committed various crimes during the illegal stay away last week.Bulawayo pr...Published: 20 Jan 2019 at 09:21hrs | 3026 | by Staff reporter
Delta urged to explore export market
INDUSTRY and Commerce Deputy Minister Raj Modi says Delta Corporation Limited should consider exploring and fortifying export markets to enable it to boost its foreign currency coffers in the wake of ...Published: 20 Jan 2019 at 09:19hrs | 166 | by Staff rpeorter
Zimbabwe local currency recipe for disaster
FINANCE minister Mthuli Ncube's recent pronouncements that Zimbabwe will revert to using its own currency, a decade after it abandoned the local dollar in favour of a basket of currencies is not feasi...Published: 19 Jan 2019 at 10:53hrs | 734 | by Staff reporter
Imports push fridge makers to the edge
THE local refrigerator-manufacturing industry needs protection from imports as it is now cheaper to import than manufacture, a leading player, Capri, has said.The fridge maker, which ceased op...Published: 19 Jan 2019 at 10:46hrs | 188 | by Staff reporter
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