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Mnangagwa has taken us back to 2008
PRESIDENT Emmerson Mnangagwa's administration is plunging Zimbabwe back into the 2008 era when the regime survived on peddling lies. Let us unpack some of the lies and confront them for answers....Published: 04 May 2021 at 06:23hrs | 589 | by Isaac
Telecoms want more forex
Telecommunication companies are facing a shortage of foreign currency that has made it difficult for them to acquire equipment and upgrade their networks to improve service delivery. The perma...Published: 04 May 2021 at 06:18hrs | 186 | by Staff reporter
Cloud computing: How this trading tech will boost the future of forex trading
As the world's largest financial market, the foreign exchange sees a daily average trading volume of $5 trillion, with price movements affected by factors such as different countries' economic growth,...Published: 03 May 2021 at 08:00hrs | 425 | by Staff writer
The paradox of Zimbabwe's rising prices and falling inflation
FOLLOWING months of scepticism over Zimbabwe's ability to achieve its targeted annual inflation rate, some of the country's leading analysts are beginning to change theirview.Now, they fee...Published: 03 May 2021 at 06:24hrs | 1190 | by Staff reporter
Teachers cash in on US$140 incentives
SOME schools in the Matabeleland region are reportedly demanding between US$1 to US$10 from learners per week as incentives for teachers to attend class, despite learners having paid fees in full....Published: 02 May 2021 at 09:15hrs | 708 | by Staff reporter
RBZ to blacklist auction forex abusers
Importers that do not acquit bills of entry to prove proper use of foreign currency from the auction system shall be blacklisted, according to Reserve Bank of Zimbabwe (RBZ) Governor Dr John Mangudya....Published: 02 May 2021 at 08:50hrs | 132 | by Staff reporter
Zimbabwe govt caves in to market pressure
THE Zimbabwean government has caved in to market demands for valuation of the two suspended formally dually-traded securities, Old Mutual and PPC, to be valued according to the closing prices of the t...Published: 30 Apr 2021 at 07:27hrs | 2892 | by Staff reporter
Forex crisis hits fertilizer industry
LOCAL fertiliser producers have bemoaned the shortage of foreign currency which has hampered production, adding that the foreign currency auction system introduced by the central bank was failing to m...Published: 30 Apr 2021 at 06:42hrs | 154 | by Staff reporter
Covid-19 vaccine to jump-start tourism sector
On January 30, 2020, the Director General of the World Health Organization (WHO) declared the outbreak of the coronavirus disease 2019 (COVID-19) as a Public Health Emergency of International Concern....Published: 23 Apr 2021 at 20:10hrs | 254 | by Tirivanhu Kateera
RBZ intensifies probe on forex auction violators
THE Reserve Bank of Zimbabwe (RBZ) has launched a crackdown on businesses that violated exchange control rules, demanding import and export acquittal records for the past five years.Informatio...Published: 23 Apr 2021 at 07:29hrs | 509 | by Staff reporter
Market welcomes forex auction relaxation
THE Reserve Bank of Zimbabwe has begun selling foreign currency to registered bureau de change to improve the accessibility of forex for small businesses."Pursuant to the resolution of the mon...Published: 23 Apr 2021 at 07:24hrs | 733 | by Staff reporter
How does the currency market work?
Forex trading has become very popular among retail traders over the last decade, thanks to technological advancements and low barriers to entry. If you are interested in joining in on...Published: 22 Apr 2021 at 06:51hrs | 1646 | by Staff Writer
'Bureaux de-change to bridge forex needs'
THE Reserve Bank of Zimbabwe (RBZ) has approved the selling of foreign currency to registered bureaux de-change operators for on-selling to their clients as part of measures to increase formal access ...Published: 22 Apr 2021 at 06:15hrs | 485 | by Staff reporter
South African Rand trades near 2021 highs after US inflation data
The South African Rand continues to be one of the most-watched emerging markets currencies by retail FX CFD traders, as the new COVID-19 cases seem to have plateaued at low levels and economic prospec...Published: 22 Apr 2021 at 06:10hrs | 801 | by Staff writer
Biti's pessimism over RBZ forex auction defied by listed companies
LISTED companies reporting their latest financials have effectively defied claims made by former finance minister, Tendai Biti the Reserve Bank of Zimbabwe foreign exchange auction system was a rigged...Published: 21 Apr 2021 at 06:59hrs | 699 | by Staff reporter
Mnangagwa preaches unity
WITH Zimbabwe starting to experience relative economic stability following years of markets turmoil, President Emmerson Mnangagwa yesterday called for national unity and discipline to improve the lot ...Published: 19 Apr 2021 at 18:06hrs | 1122 | by Staff reporter
Zanu-PF MPs cry foul over forex accounts
Zanu-PF legislators say they are finding it increasingly difficult to conduct business because banks are rejecting their applications for foreign currency-dominated accounts citing sanctions by wester...Published: 18 Apr 2021 at 09:28hrs | 2023 | by Staff reporter
Zimdollar maintains stability
THE Zimbabwe dollar continues to maintain stability on the official weekly foreign currency exchange auction system with marginal fluctuations against the greenback exhibiting market confidence in the...Published: 08 Apr 2021 at 08:42hrs | 600 | by Staff reporter
Demand for rand disbursements spurs Access Forex
MONEY transfer services firm, Access Forex, says it has positioned itself to expand business in response to overwhelming demand for rand cash disbursements mainly in Matabeleland provinces and parts o...Published: 06 Apr 2021 at 15:41hrs | 1096 | by Staff reporter
Zera opens fuel import licence applications
THE Zimbabwe Energy Regulatory Authority (Zera) is now accepting applications for fuel importation licences for 2021, outlawing 2019 fuel procurement licences that were still in use.In a state...Published: 05 Apr 2021 at 16:55hrs | 353 | by Staff reporter
AfDB pegs Zimbabwe growth at 4,2%
ZIMBABWE'S economy contracted by 10% last year and is envisaged to grow by 4,2% in 2021 if effective measures are taken to stabilise foreign exchange and avoid excessive money creation, the African De...Published: 29 Mar 2021 at 06:26hrs | 354 | by Staff reporter
800 companies benefit from Foreign Currency Auction
Close to 800 companies have benefited from the weekly Foreign Currency Auction Trading System where a total of US$639,5 million has been allotted since the introduction of the platform in June last ye...Published: 25 Mar 2021 at 05:36hrs | 215 | by Staff reporter
RBZ raps pharmaceutical secor for abusing forex
The pharmaceutical industry is abusing foreign currency auctions privileges by selling imported drugs using black market rates, and the Reserve Bank of Zimbabwe does not have the legal powers to stop ...Published: 23 Mar 2021 at 06:11hrs | 206 | by Staff reporter
Govt probes fuel companies
THE government has ordered a probe into oil companies accused of abusing a Reserve Bank of Zimbabwe (RBZ) foreign currency facility that allows them to secure fuel - but which they are now allegedly s...Published: 22 Mar 2021 at 15:40hrs | 482 | by Staff reporter
RBZ, tobacco transporters strike forex deal
The Reserve Bank of Zimbabwe (RBZ) has given the Tobacco Transporters Trust of Zimbabwe (TTTZ) a green light to charge for their services in United States dollars, a few weeks after logistics firms wa...Published: 22 Mar 2021 at 06:13hrs | 639 | by Staff reporter
Money changers camp outside shops
Illegal money changers in Harare and other parts of the country are now hanging around and even inside supermarkets that might have a reasonable number of shoppers using foreign currency offering to p...Published: 22 Mar 2021 at 06:00hrs | 969 | by Staff reporter
Let's banish the urban-rural chasm
Devolution now steadily but surely underway in our country, with provincial ministers of state also tasked with implementation of the new beginning, must sooner rather than later see rural areas where...Published: 20 Mar 2021 at 07:17hrs | 119 | by Stephen Mpofu
Top 5 Forex Brokers for Zimbabweans
The forex market is the largest and most liquid market in the world which sees a consistent influx of new traders. The following are the top ...Published: 19 Mar 2021 at 11:15hrs | 1719 | by Simbarashe Sithole
RBZ warns banks
The Reserve Bank of Zimbabwe (RBZ) has warned banks which offer overdrafts to companies to buy foreign currency from the auction system saying such a move creates speculation in the market and promote...Published: 18 Mar 2021 at 06:42hrs | 3006 | by Staff rpeorter
'Banks complicit in forex fraud'
A RESERVE Bank of Zimbabwe (RBZ) statement released yesterday exposed how banks have sidestepped central bank policies to help companies access foreign currency without enough reserves to fund their b...Published: 18 Mar 2021 at 05:48hrs | 964 | by Staff reporter
Zimbabwe dominates Sadc remittances
ZIMBABWE received the largest remittances in southern Africa, underpinned by high migration of citizens who fled a two decade-long economic crisis, the latest African Development Bank (AfDB) data show...Published: 12 Mar 2021 at 06:46hrs | 798 | by Staff reporter
Machete gang leader arrested
A suspected machete gang leader has been arrested in Kwekwe for committing a spate of armed robberies in and around the area. Police impounded his getaway vehicle a Toyota Mark X and recovered an axe ...Published: 11 Mar 2021 at 06:14hrs | 888 | by Staff reporter
RBZ allays money supply growth fears
GOVERNMENT needs $60 billion to buy maize from farmers this marketing season but this will not trigger money supply growth in the economy, Reserve Bank of Zimbabwe (RBZ) Governor Dr John Mangudya has ...Published: 11 Mar 2021 at 06:13hrs | 353 | by Staff reporter
RBZ shuts out undisciplined businesses
THE Reserve Bank of Zimbabwe (RBZ) says it is moving in to flush out unscrupulous businesses participating at the weekly Foreign Currency Trading System over their indisciplined behaviour. The...Published: 09 Mar 2021 at 06:20hrs | 930 | by Staff reporter
What Zimbabweans must know about Retail Forex Trading
The forex market is the largest financial market in the world surpassing even the global stock markets. The BIS triennial survey of 2019 states that the global forex market generates nearly 6.6 trilli...Published: 06 Mar 2021 at 05:21hrs | 627 | by Staff writer
Zimbabwe's gold loses glitter
Zimbabwe's gold export receipts plummeted 46% to record US$53.1m in January 2021 from US$98.1m during the same month last year due to delays in payments and heavy rains, the Reserve Bank (RBZ) has sai...Published: 05 Mar 2021 at 17:44hrs | 824 | by Staff reporter
Zimbabwe govt rejects request to pay duty in forex
This comes as Treasury authorities want to ensure the country moves towards broader use of the local currency.Responding to a letter of request by Shallom Fiscal Consultant managing director, ...Published: 05 Mar 2021 at 17:40hrs | 736 | by Staff reporter
Telecel Zimbabwe revenue hit by lockdown
STATE-run telecoms firm, Telecel Zimbabwe has drifted into a crisis.Revenues have plummeted for four straight months since November, while it has been affected by frequent downtimes at its bas...Published: 05 Mar 2021 at 06:54hrs | 305 | by Staff reporter
Corrupt firms banned from the forex auction
GOVERNMENT has suspended 12 companies allegedly involved in transfer pricing from the foreign exchange auction system on suspicion they channel part of the funds from the auction to the parallel marke...Published: 05 Mar 2021 at 06:36hrs | 953 | by Staff reporter
Bank queues a Covid-19 time bomb
BANKS are not adhering to World Health Organisation (WHO) standards and national Covid-19 guidelines as evidenced by their failure to control clients to ensure social distancing. Social distan...Published: 04 Mar 2021 at 06:21hrs | 257 | by Staff reporter
Forex demand in upward trajectory
Demand for foreign currency on the auction platform is showing an upward trajectory with 540 valid bids receiving their allotments with SMEs hitting a record total allotment of over US$3,1 million. ...Published: 03 Mar 2021 at 06:12hrs | 500 | by Staff reporter
Siphatheleni bites cops
A Tshabalala money changer, commonly known as 'Siphathelelni', who allegedly went berserk and bit police officers as she resisted arrest in the city centre, was yesterday granted $2000 bail pending tr...Published: 02 Mar 2021 at 20:01hrs | 1565 | by Staff reporter
Zupco's three-tier fare structure unsustainable
ON January 16, 2021, urban transporter Zupco announced a 100% fare hike for urban routes citing falling revenues due to the reduced number of passengers which has been necessitated by adherence to COV...Published: 01 Mar 2021 at 04:59hrs | 1524 | by Ngwenya
RBZ backtracks on farmers' forex retention thresholds
THE Reserve Bank of Zimbabwe (RBZ) has been forced to raise foreign currency retention thresholds for tobacco producers by 10% following pressure from farmers.RBZ also scrapped the compulsory ...Published: 28 Feb 2021 at 08:51hrs | 782 | by Staff reporter
Plans to repeal crippling taxation on cards
THE Ministry of Mines and Mining Development is currently engaged in major discussions with fiscal and monetary authorities to address the issues of the punitive tax regime and surrender thresholds th...Published: 26 Feb 2021 at 06:55hrs | 1436 | by Staff reporter
'Auction rate is the real market rate'
THE auction exchange rate represents the proper market trends contrary to the contrived perception that the parallel market signifies the "real exchange rate", a senior Treasury official has said. &nb...Published: 26 Feb 2021 at 06:30hrs | 242 | by Staff reporter
Mangudya in shock claims
Zimbabwe's central bank governor, John Mangudya, this week claimed the southern African country does not need "anyone's money" to extricate itself from its economic woes.The country, which is ...Published: 25 Feb 2021 at 16:19hrs | 3753 | by Staff reporter
Amplats warns Zimbabwe
ZIMBABWE'S decision to compel exporters to surrender more of their foreign currency earnings may leave miners unable to fund operations, Anglo American Platinum (Amplats), one of the country's biggest...Published: 24 Feb 2021 at 21:45hrs | 407 | by Staff reporter
Forex shortage stalls base station work
WORK on the Umzingwane mobile network base station has stalled due to shortages of foreign currency, Parliament was told last Wednesday.This was revealed in the National Assembly by Informatio...Published: 21 Feb 2021 at 21:45hrs | 264 | by Staff reporter
Zimbabwean banks strike forex auction settlement deal
ZIMBABWE's banking system has agreed to settle funds allocated at the foreign currency auction system within two weeks, central bank governor John Mangudya has said.Introduced in June 2020 to ...Published: 21 Feb 2021 at 07:06hrs | 1266 | by Staff reporter
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