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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
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
Econet introduces US$1 bundle promotion
ECONET Wireless Zimbabwe, the country's largest mobile network operator, has introduced a new US$1 promotional bundle that is set to offer more convenience and greater airtime purchase options for its...Published: 12 Dec 2021 at 19:53hrs | 10 | by Staff reporter
Cassava announces free remittances to Zimbabwe via Sasai App
Cassava Fintech, a wholly owned subsidiary of the Econet Group, says with effect from September 1, 2019, Zimbabweans sending money from the Diaspora will pay only 2.5% in remittance fees, a drastic re...Published: 25 Aug 2019 at 18:59hrs | | by Staff reporter
Economic reforms are necessary, says Mnangagwa
Economic reforms being undertaken by Government are necessary to guarantee sustainable development and prosperity for the country and efforts should now be on national peace, unity and increasing prod...Published: 13 Aug 2019 at 07:12hrs | 1 | by Staff reporter
Mnangagwa's govt to enforce SI-142 compliance
Zimbabwe's monetary and fiscal authorities have put in place measures to ensure enforcement of Statutory Instrument 142 of 2019, which effectively ended the multi-currency system and determined the "Z...Published: 02 Jul 2019 at 08:07hrs | | by Staff reporter
Recession, Zim Dollar return and Economic Outlook
As the country enters the last half of the year and warms up to the re-introduction of the Zimbabwean Dollar, it is now evident that the economy is swiftly sliding into a recession. In 2018, the econo...Published: 01 Jul 2019 at 12:20hrs | 1 | by Victor Bhoroma
Analysis of Mthuli Ncube's Statutory Instrument 142 of 2019
ON June 24, 2019, Zimbabwe woke to news of a statutory instrument with clearly far-reaching effects in that it alters the currency landscape. This instrument has been followed by directives from the R...Published: 01 Jul 2019 at 08:09hrs | 14 | by Mushoriwa Pasi
Zimdollar: Only way out
Having gathered the courage to debunk the deeply held view that once dollarised, it is extremely difficult for a country to de-dollarise, Professor Mthuli Ncube's biggest challenge is to now prove to ...Published: 30 Jun 2019 at 09:32hrs | | by Persistence Gwanyanya
Zimbabwe's new currency: What does it all mean?
FEW things fill a Zimbabwean with fear and dread more than the word "Zimdollar". So, it was no surprise that the news Zimbabwe had declared the RTGS the sole local currency, one more step in the count...Published: 28 Jun 2019 at 06:22hrs | 1 | by newZWire
Zimdollar given 5-day ultimatum
THE National Tripartite Negotiating Forum (TNF) has given government up to Tuesday next week to withdraw Statutory Instrument 142/2019, which banned the use of multi-currency and reintroduced the Zimb...Published: 27 Jun 2019 at 06:41hrs | 1 | by Staff reporter
Zimbabwe recent economic developments
The central government deficit stabilized starting in September 2018, and turned into a surplus in the first 4 months of 2019...Published: 25 Jun 2019 at 22:22hrs | | by Staff reporter
RBZ warns banks over forex abuse
The Reserve Bank of Zimbabwe (RBZ) has warned it will take punitive action against banks flouting exchange control regulations after noting rampant abuse of nostro (domestic) foreign currency accounts...Published: 24 May 2019 at 06:37hrs | 2 | by Staff reporter
The nexus between confidence and economic growth
A change in the Zimbabwean government in November 2017 was somewhat a confidence booster in the economy as the new administration announced business oriented policies and went on an overdrive to re-en...Published: 29 Apr 2019 at 08:45hrs | | by Victor Bhoroma
Exchange liberalisation right step: ICAZ
THE liberalisation of the foreign exchange rate by the Reserve Bank of Zimbabwe (RBZ) in this year's Monetary Policy Statement (MPS) has standardised financial reporting and done away with distortions...Published: 27 Mar 2019 at 23:06hrs | 1 | by Staff reporter
'RTGS dollar to gain value'
FINANCE and Economic Development Minister, Professor Mthuli Ncube, says the country's financial situation is improving with the newly introduced RTGS dollar set to gain more value on the back of on-go...Published: 12 Mar 2019 at 05:59hrs | | 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 | 2 | by Tinashe Eric Muzamhindo
Forex shortages hit money transfer agencies
Money transfer agencies mainly Western Union, have become latest victims of foreign currency shortages as it emerged they are failing to access hard cash from local banks for onward transfer to receiv...Published: 19 Feb 2019 at 22:57hrs | 1 | 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 | 2 | by Staff reporter
Zimbabwe inflation to drop by October
Zimbabwe's annual rate of inflation will drop drastically to single digit levels in October this year because the disparity between the baseline index for that month compared to the same period last y...Published: 11 Feb 2019 at 09:44hrs | | by Staff reporter
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 | | by Staff reporter
Is RBZ shifting position?
THE Reserve Bank of Zimbabwe (RBZ) has given its clearest hint to date that the country is slowly re-dollarising after upgrading the Real Time Gross Settlement (RTGS) platform to include the United St...Published: 04 Feb 2019 at 15:09hrs | 11 | by Pauline Hurungudo
'ZSE downward trend likely to persist'
The downward trend that has characterised the Zimbabwe Stock Exchange since October last year is likely to persist in 2019 as the allure of protecting value wears off, analysts have said.The Z...Published: 06 Jan 2019 at 09:47hrs | 1 | by Staff reporter
'Zimbabwe financial markets to remain volatile'
ZIMBABWE'S financial markets are likely to remain volatile until nostro foreign currency accounts (FCAs) meet the demand in the real time gross settlement (RTGS) accounts, a local financial services f...Published: 30 Oct 2018 at 05:24hrs | | by Staff reporter
Zimbabwe banks fingered in US dollar scams
Market indiscipline in the local financial services sector necessitated the separation of Foreign Currency Accounts (FCAs) and real time gross settlement (RTGS) accounts, Finance and Economic Developm...Published: 30 Oct 2018 at 05:17hrs | | by Staff reporter
Modi woos Belgian, Luxembourg investors to Bulawayo
INDUSTRY and Commerce Deputy Minister, Raji Modi, has enticed Belgian and Luxembourg companies to exploit manufacturing investment opportunities in Bulawayo and Zimbabwe at large. The Bulawayo...Published: 29 Oct 2018 at 05:32hrs | 6 | by Staff reporter
'RBZ must be as clean as possible'
The Reserve Bank of Zimbabwe has been under scrutiny following the suspension of four directors - Messrs Mirirai Chiremba (financial intelligence), Norman Mataruka (bank supervision), Gresham Muradzik...Published: 28 Oct 2018 at 09:09hrs | | by Staff reporter
Emergency recovery measures to stop Zimbabwe economic free-fall
This article will be brief and straight to the point. There is no need to continue to pontificate on the political-economy of the country because we all know that after the 30th July elections the eco...Published: 23 Oct 2018 at 14:00hrs | 2 | by Dr Tapiwa Mashakada
Cimas accepting RTGS, FCAs
One of the country's leading medical aid societies, Cimas, said its members should continue to pay their contributions through payment modes made available to them by the regulatory authorities....Published: 13 Oct 2018 at 14:07hrs | 1 | by Staff reporter
Zimbabwe black market rates tumble
PARALLEL market rates plummeted in Bulawayo yesterday after Government guaranteed the 1:1 convertibility value of Real Time Gross Settlement (RTGS) balances into the United States dollar as well as av...Published: 12 Oct 2018 at 06:53hrs | 3 | by Staff reporter
RBZ moves to stabilise prices
PANIC-buying amid price hikes of basic commodities peaked at the weekend in response to the Reserve Bank of Zimbabwe (RBZ)'s monetary policy statement, which economists argued failed to stem public di...Published: 08 Oct 2018 at 08:02hrs | 1 | by Staff reporter
RBZ won't de-link accounts
GOVERNMENT will not de-link the parity rate between nostro foreign currency account and Real Time Gross Settlement (RTGS) account balances by allowing a free float exchange rate system as doing so wou...Published: 07 Oct 2018 at 08:37hrs | | by Staff reporter
'Mthuli Ncube has de-dollarised the economy'
THE ZIMBABWE National Chamber of Commerce (ZNCC) says by introducing a separate account for foreign currency through the monetary policy statement yesterday, the central bank has finally de-dollarised...Published: 02 Oct 2018 at 09:43hrs | | by Staff reporter
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 | 2 | 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 | 4 | by Staff Reporter
'Mnangagwa directive not law'
Former Finance minister Tendai Biti has said only an Act of Parliament and Statutory Instrument have legal effect, rubbishing an exchange control directive which was used to cobble a list of companies...Published: 30 Mar 2018 at 09:03hrs | 5 | by Staff reporter
2017 Outlook by Tapiwa Mashakada,
In Dec 2015 I predicted that 2016 was going to be a tough year. Yes it was tough indeed but wait for 2017. I think 2017 is going to be a melt-down year. We are going to see bond notes flooding t...Published: 24 Dec 2016 at 10:55hrs | | by Tapiwa Mashakada - MDC-T Secretary for Finance and Economic Affairs
RBZ update: Banks give in to pressure from exporters
Zimbabwe's Reserve Bank on Tuesday abandoned plans to automatically convert export proceeds into the Rand and Euro currencies, the second tweak within a week of a major policy intervention, as it batt...Published: 10 May 2016 at 18:28hrs | | by Thobekile Zhou
Zim govt to pay back $400m seized by RBZ from FCAs
TOUR and Adventure operators in Victoria Falls have applauded the government for committing to address the issue of funds taken from their Foreign Currency Accounts by the Reserve Bank of Zimbabwe at...Published: 04 Nov 2013 at 02:24hrs | 3 | by Staff reporter
Its impossible to hold elections next year - Biti
Finance minister Tendai Biti says it is almost impossible to hold an election next year as demanded by President Mugabe because the political environment is still uneven. He told business lead...Published: 28 Nov 2011 at 12:27hrs | | by Staff reporter
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