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Foreign currency dealer shot, robbed
A foreign currency dealer was shot and robbed of US$2 000 on Tuesday evening in what police suspect was a targeted armed robbery, marking the second such incident in just over a month.Mr. Shad...Published: 24 Apr 2025 at 07:21hrs | 454 | by Staff reporter
Chiwenga's colourful vernacular reshapes Zimbabwean discourse
Vice-President Constantino Chiwenga, renowned for his pivotal role in the 2017 military coup that ended President Robert Mugabe's near-four-decade rule, is now making headlines for his vibrant and imp...Published: 08 Mar 2025 at 15:10hrs | 1697 | by Staff reporter
Death knell for Zimbabwe's departmental shops
The demand for partitioned lettable shops in Bulawayo's Central Business District (CBD) has reached unprecedented levels, with the Bulawayo City Council receiving a flood of applications for the conve...Published: 09 Dec 2024 at 06:50hrs | 523 | by Staff reporter
Mnangagwa warns forex dealers
In a bold move to stabilize the beleaguered Zimbabwe Gold (ZWG) currency, President Emmerson Mnangagwa announced on Wednesday that 50% of mining royalties will be allocated to bolster the currency's r...Published: 03 Oct 2024 at 08:58hrs | 1083 | by Staff reporter
Shops dump ZiG official rate for two-tier pricing system
Just like other Zimbabwean currencies introduced since the year 2000, the Zimbabwe Gold (ZiG) currency is already showing signs of instability barely half a year after its introduction, with many shop...Published: 08 Sep 2024 at 13:51hrs | 9591 | by Staff reporter
2 more forex dealers jailed
TWO more illegal foreign currency dealers arrested by police, while changing money have been sentenced to effective terms of three months in jail.Kudakwashe Welcome Maketo (24) and Ishmael Mun...Published: 09 Aug 2024 at 07:30hrs | 236 | by Staff reporter
Fresh blitz against illegal forex dealers in Zimbabwe
The police and the Reserve Bank of Zimbabwe's Financial Intelligence Unit (FIU) have initiated a crackdown on illegal currency traders. This week, numerous money changers were arrested, with many stil...Published: 26 Jul 2024 at 06:33hrs | 494 | by Staff reporter
Airtime vendor mistaken for forex dealer, detained for 2 months
Tonderai Hove, a 31-year-old airtime vendor from Beitbridge, Zimbabwe, experienced a moment of relief as he was released from custody after two months. Magistrate Takudzwa Gwazemba ordered his release...Published: 30 Jun 2024 at 18:26hrs | 3 | by Staff reporter
Bogus cop arrested for bashing suspected illegal forex dealer
A phony police officer, identified as Kundai Taruvinga (29), was apprehended while assaulting a Harare man suspected of engaging in illegal foreign currency trading. The incident took place at...Published: 10 Jun 2024 at 08:44hrs | 3 | by Staff reporter
'Forex dealer' granted bail
Rangarirai Chimbamba, an alleged illegal foreign currency dealer, has been granted bail by the Harare High Court.According to the National Prosecuting Authority of Zimbabwe (NPAZ), Chimbamba h...Published: 21 May 2024 at 08:16hrs | 6 | by Staff reporter
Is this another catch-and-release?
The arrest of Neville Mutsvangwa has just ruffled feathers and opened a can of worms in Zanu PF's political factional fights. Is this government really serious about fighting corruption in the...Published: 18 May 2024 at 20:50hrs | 11 | by Leonard Koni
Wicknell is bumping with the big boys
HE dropped out of school just before he turned 15 and went straight into employment as a wages clerk for a bus company, when, around 1997, he could barely read or write— let alone manage company rec...Published: 16 Apr 2024 at 19:15hrs | 7 | by Staff reporter
Zimdollar decline fueled by surge in money supply
THE Zimbabwe dollar has taken a battering in the past month with economists attributing the depreciation of the local currency to increased money supply after private and public sector employees were ...Published: 24 Dec 2023 at 16:10hrs | 11 | by Staff reporter
'ZRP forex dealers days numbered'
The police have issued a warning about cracking down on their own members involved in illegal foreign currency trading on the streets. National police spokesperson Assistant Commissioner Paul Nyathi m...Published: 31 Oct 2023 at 05:50hrs | 3 | by Staff reporter
Fraudulent forex dealer jailed 6 years
A Bindura man who defrauded several vendors of over US$30,000 through fake proof of payments in failed foreign currency exchange transactions has been sentenced to six years in prison. Collin Rutendo ...Published: 31 Oct 2023 at 05:43hrs | 1 | by Staff reporter
Zimdollar not going anywhere
THE Treasury has assured the market of continued usage of the local currency and that deliberate steps are being taken to strengthen its value so as to restore consumer purchasing power and buttress t...Published: 29 May 2023 at 06:32hrs | 2 | by Staff reporter
Mthuli Ncube confronts Osiphatheleni
THERE was drama around Tredgold Building, which houses the Bulawayo Magistrate Courts yesterday, as illegal money changers ran away at the sight of the Minister of Finance and Economic Development, Pr...Published: 28 May 2023 at 08:03hrs | 4 | by Staff reporter
Zimbabwe police raid illegal forex dealers, retrieve 11 POS machines
POLICE in Bulawayo have raided illegal foreign currency dealers and arrested six suspects linked to the abuse of Point of Sale (POS) machines to carry out illicit transactions.Bulawayo provinc...Published: 23 May 2023 at 21:16hrs | 14 | by Staff reporter
Edgars branch forced to relocation by vendors
GIANT retail clothing company, Edgars Stores Limited, has closed one of its prominent branches in Bulawayo citing the need to secure an alternative location that suits its brand expectation amid press...Published: 28 Feb 2023 at 07:38hrs | 16 | by Staff reporter
US$26,000 loot disappears as mob corners, kill armed robbery suspect
Two suspects who thought they had hit the jackpot when they shot and robbed an illegal forex dealer of US$26,000 cash in Beitbridge were cornered and bashed by a mob leading to the death of one of the...Published: 19 Feb 2023 at 18:00hrs | 11 | by Staff reporter
Zimbabwe-based Indian millionaire acquitted
A Zimbabwe-based Indian businessman tycoon Munir Kazi is now a free man after he was acquitted by the court on charges of defrauding foreign currency traders of US$765 000.Magistrate Vongai Mu...Published: 16 Feb 2023 at 06:57hrs | 1 | by Simbarashe Sithole in Harare
Zimbabwean court acquits Indian business mogul
HARARE Magistrate Vongai Muchuchuti-Guwuriro has acquitted Indian businessman Munir Kazi for allegedly swindling foreign currency dealers of US$765 000.Kazi and his co-accused Andre Hoffman ap...Published: 16 Feb 2023 at 04:55hrs | | by Staff reporter
Businessman cleared of duping forex dealers US$765 000
INDIAN businessman Munir Kamruddin Kazi was yesterday cleared of charges of duping eight people of US$765 000 in botched foreign currency exchange deals during 2019, with the court discharging him at ...Published: 15 Feb 2023 at 05:00hrs | 12 | by Staff reporter
LSU procurement rocked by serious irregularities because of non qualified leadership
Lupane State University is one of the Universities that offer a Degree in Supply Chain Management, but its Procurement Management unit (PMU) is poorly managed as a non-procurement was assigned to over...Published: 23 Sep 2022 at 12:17hrs | 71 | by Stephen Jake
Zimdollar shortage bites
THE government will today give an update on contracts it suspended last month pending a pricing review as pressure mounts for it to honour its obligations.Last month, as part of measures to sa...Published: 21 Sep 2022 at 06:02hrs | 3 | by Staff reporter
BREAKING: stand-off between Police and suspected armed robbers at Fidelity Building
There are reports of a stand-off between Police and suspected armed robbers at Fidelity Building in Bulawayo.Ezra Tshisa Sibanda reporting on his Facebook page that: Ther...Published: 17 Sep 2022 at 13:11hrs | 23 | by Staff Reporter
Zimbabwe has 2nd highest rising food prices, claims WB
THE World Bank says Zimbabwe has the second highest food prices in the world after it recorded a real food inflation annual rate of 52.In an update dated August 11, 2022, released on Sat...Published: 05 Sep 2022 at 06:40hrs | 1 | by Staff reporter
Illegal forex dealer fined $10 million
Local company, Tererati (Pvt) Limited, involved in illegal foreign currency deals during 2020 in Harare using EcoCash agent lines, was fined $10 498 300 yesterday after admitting to making the illicit...Published: 27 Aug 2022 at 05:59hrs | 12 | by Staff reporter
How to legally own a firearm in Zimbabwe
FOLLOWING the firearm amnesty granted by President Mnangagwa last week for people to surrender unregistered firearms and ammunition, police yesterday explained how a person gets to own a firearm in Zi...Published: 18 Aug 2022 at 06:43hrs | 120 | by Staff reporter
Interest rate hike haunts black market kingpins
Interventions by the Reserve Bank of Zimbabwe (RBZ) to stem prolonged currency battering have sent black market rates tumbling by over 50 percentage points within a month, Inter Horizon Securities (IH...Published: 16 Aug 2022 at 06:40hrs | 2 | by Staff reporter
Zimbabwe central bank declares victory
THE Reserve Bank of Zimbabwe (RBZ) says as of last Wednesday, 4 475 gold coins valued at $3,7 billion had been bought with 90% being local currency purchases, a move it says has cooled the galloping p...Published: 15 Aug 2022 at 06:40hrs | 1 | by Staff reporter
Bank workers appeal to Mthulisi Ncube for tax relief
THE Zimbabwe Banks and Allied Workers Union (Zibawu) has urged Finance minister Mthuli Ncube to raise the income tax free threshold in both foreign and local currencies in line with inflation and curr...Published: 05 Jun 2022 at 09:17hrs | 1 | by Staff reporter
Who is Sabotaging Our President?
As activists and people of Zimbabwe, we are disheartened to learn that there are persons who are sabotaging economic policies that are being made by the government causing massive suffering to us the ...Published: 22 May 2022 at 13:35hrs | 2 | by Lynnete T Mudehwe
RBZ suspends Access Forex with immediate effect
THERE is a bloodbath in the financial services sector, with the Reserve Bank of Zimbabwe (RBZ) Monday shutting down yet another foreign currency dealership, Access Forex.The company announced ...Published: 25 Apr 2022 at 18:01hrs | 1 | by Staff reporter
RBZ initiates think tank to assess banking products
THE Reserve Bank of Zimbabwe (RBZ) has created a think tank to examine new banking products and innovations prior to their launch, to assess their viability.The revelation came a day after the...Published: 25 Apr 2022 at 09:01hrs | 4 | by Staff reporter
Court throws out challenge to exchange control ammendments
THE High Court has dismissed an application by human rights lawyer Obert Shava, challenging the constitutionality of Statutory Instrument (SI) 127 of 2021 which imposes civil penalties on those found ...Published: 20 Jan 2022 at 05:40hrs | 3 | by Staff reporter
RBZ dishes out US$6 million to 130 000 citizens
THE Reserve Bank of Zimbabwe (RBZ) has disbursed more than US$6 million to close to 130 000 people following Government's decision last month to promote financial inclusion and access to forex for sma...Published: 29 Oct 2021 at 08:11hrs | 5 | by Staff Reporter
Mliswa calls for local currency
Outspoken Norton Legislator Temba Mliswa has urged the government to promote local currency in a bid to stabilize the economy."Governme...Published: 19 Oct 2021 at 17:14hrs | 10 | by Simbarashe Sithole
Special courts for black market forex dealers
PROSECUTOR-General, Mr Kumbirai Hodzi has said the State has gathered more evidence against economic saboteurs driving the spike in the exchange rate on the parallel market, in a development that will...Published: 17 Oct 2021 at 09:00hrs | | by Staff reporter
Zimdollar plunges into death spiral
ZIMBABWE's currency is in a death spiral and headed for a tragic end, two years after it was re-introduced into circulation, stoking fears of the 2008 hyperinflationary era where the government was fo...Published: 15 Oct 2021 at 20:22hrs | 1 | by Staff reporter
Robber waylays gold dealer
A 36-year-old Bulawayo man lost 65 grammes of gold and a cellphone to an armed robber who had lured him to Chegutu. The man had been lured to Shamva by the robber only identified as Anyway Mun...Published: 15 Oct 2021 at 06:19hrs | | by Staff reporter
Forex auction revitalises economy, claims RBZ
THE foreign currency auction introduced by Government last year has been critical in revitalising the economy despite deliberate inflation of black market exchange rates by some unscrupulous businesse...Published: 15 Oct 2021 at 06:18hrs | 1 | by Staff reporter
'Zimbabwe has enough forex to sustain economy'
THE foreign currency auction introduced by Government last year has been critical in revitalising the economy despite deliberate inflation of black market exchange rates by unscrupulous businesses and...Published: 15 Oct 2021 at 06:17hrs | | by Staff reporter
Zimdollar market correction
A MAJOR highlight of this week's auction is the magnitude of currency depreciation. The Zimbabwean dollar (Zimdollar) weakened by the highest weekly margin since the beginning of the year, a strong si...Published: 08 Oct 2021 at 19:03hrs | 6 | by Respect Gwenzi
Noose tightened on Innscor and other retailers using black market rates
Retailers that continue to flout foreign currency regulations by setting prices in US dollars and then converting at the blackmarket rate will have their operating licences immediately suspended while...Published: 08 Oct 2021 at 06:26hrs | 1 | by Staff reporter
Illegal forex dealers launch bail appeals
LAWYERS representing companies and individuals accused of involvement in illicit foreign currency trading are launching bail appeals at the High Court.The illegal foreign currency deals saw ov...Published: 06 Oct 2021 at 05:45hrs | | by Staff reporter
Who is behind forex dealers?
NO matter how well-meaning and determined, the Reserve Bank of Zimbabwe (RBZ) could be towards uprooting rampant delinquency in the economy, the effort may count for nothing if other institutions are ...Published: 05 Oct 2021 at 06:38hrs | 3 | by Nathan Gurira
Illegal forex dealers denied bail
COMPANIES and individuals alleged to have been involved in illegal foreign currency deals that saw over $1,5 billion being transacted on the parallel market within six months, were yesterday denied ba...Published: 05 Oct 2021 at 06:29hrs | 19 | by Staff reporter
Naming and shaming of illegal forex dealers a good move
THE Reserve Bank of Zimbabwe last week banned 30 black market currency dealers from operating any bank or mobile money accounts for the next two years. The central bank said the dealers should also be...Published: 04 Oct 2021 at 05:51hrs | 1 | by Staff reporter
Illegal forex dealers move $1,5 billion in six months
EIGHT companies allegedly handled transactions valued over $1,5 billion in illegal foreign currency deals that involved transferring huge amounts of money from corporate bank accounts into mobile mone...Published: 03 Oct 2021 at 08:10hrs | 11 | by Staff reporter
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