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Zimbabwean Nationals are a target of international cyber criminals
As more and more Zimbabweans embrace the digital economy, the rise of cybercrime has become a significant concern for its citizens. With increasing internet penetration, more individuals are engaging ...Published: 20 Dec 2024 at 12:19hrs | 274 | by Jacob Kudzayi Mutisi
FBC Bank introduces 24/7 deposit-taking ATMs in Zimbabwe
FBC Bank has unveiled a 'groundbreaking' service in Zimbabwe with the launch of Deposit-Taking ATMs, enabling customers to deposit cash into their individual accounts or FBC Mastercard Prepaid cards a...Published: 17 Dec 2024 at 15:23hrs | 1001 | by Staff reporter
Minister Mthuli's Anaconda Choke on the Informal Sector Marks the End of Zanu PF Rule
Zimbabwe's Minister of Finance, Mthuli Ncube, has taken drastic measures to clamp down on the informal sector, a move being described as an "anaconda chok...Published: 13 Dec 2024 at 19:15hrs | 1777 | by Kindred Sibanda
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 | 475 | by Staff reporter
RBZ keeps rates steady
Reserve Bank of Zimbabwe (RBZ) Governor John Mushayavanhu has announced that the bank policy rate will remain at 35%, and statutory reserve requirements will stay unchanged, as the central bank seeks ...Published: 05 Dec 2024 at 06:55hrs | 444 | by Staff reporter
Cement imports threaten Zimbabwe's economy, warns PPC Zimbabwe
Zimbabwe risks losing approximately US$50 million annually in foreign currency if cement imports continue to flood the market, warns leading cement manufacturer Pretoria Portland Cement (PPC) Zimbabwe...Published: 02 Dec 2024 at 18:57hrs | 1221 | by Staff reporter
Zimbabwe forex receipts jumps 17.9% to $10 billion in 2024
Zimbabwe recorded a remarkable 17.9% increase in foreign currency receipts in the first nine months of 2024, reaching US$10 billion compared to US$8.5 billion during the same period in 2023. This grow...Published: 02 Dec 2024 at 07:17hrs | 89 | by Staff reporter
Zimbabweans abroad sent home US$1,9 billion in 9 months
Zimbabweans living abroad sent a record-breaking US$1.9 billion back home in the first nine months of 2024, marking a significant 16.5% increase from the US$1.6 billion remitted in the same period las...Published: 29 Nov 2024 at 07:17hrs | 365 | by Staff reporter
Surge in US$ cash transactions triggers spike in armed robberies in Zimbabwe
Zimbabwe is experiencing an alarming rise in armed robberies, with the increasing use of US dollar cash transactions making businesses, banks, and individuals prime targets for criminals. Violent atta...Published: 27 Nov 2024 at 06:50hrs | 211 | by Staff reporter
BCC proposes forex fines for illegal dumping of waste
Bulawayo City Council (BCC) is contemplating a policy requiring fines for illegal dumping to be paid in foreign currency, in a bid to curb the growing problem of environmental pollution and to enhance...Published: 24 Nov 2024 at 10:08hrs | 51 | by Staff reporter
Zimbabwe foreign currency reserves rise to US$500m
Zimbabwe's foreign currency reserves backing its local currency, the Zimbabwe Gold (ZiG), have surged past US$500 million, tripling the total amount of ZiG in circulation. This development is expected...Published: 10 Nov 2024 at 10:41hrs | 170 | by Staff reporter
Zimbabwean man in court for defrauding Defence deputy minister
A 29-year-old man from Maglas Township in Zvishavane, Midlands Province, appeared before the Harare Magistrates Court on Thursday facing a fraud charge after allegedly defrauding Zimbabwe's Defence De...Published: 06 Nov 2024 at 06:57hrs | 1394 | by Staff reporter
Mutsvangwa's legal troubles could have broader implications
Neville Mutsvangwa, son of ZANU-PF spokesperson Christopher Mutsvangwa, has been remanded to December 4 as the State seeks to escalate his case to the High Court for trial. He faces serious criminal c...Published: 01 Nov 2024 at 06:37hrs | 2994 | by Staff reporter
Devaluation fails to halt ZiG free-fall
Zimbabwe's new local currency, the Zimbabwe Gold (ZiG), has taken another hit, losing an additional 11% of its value in under a month following a substantial 43% "devaluation" announced by monetary au...Published: 29 Oct 2024 at 13:49hrs | 4504 | by Staff reporter
RBZ pumps US$32 million into market
The Reserve Bank of Zimbabwe (RBZ) has infused approximately US$32 million into the interbank foreign exchange market over the past three weeks to stabilize the Zimbabwe Gold (ZiG) currency and addres...Published: 27 Oct 2024 at 12:19hrs | 156 | by Staff reporter
ZAA Founder on Diaspora, ZIG, Xenophobia and Julius Malema
"We are what we repeatedly do. Excellence, then, is not an act, but a habit."Aristotle's age-old dictum has been used and sometimes abused to the point of cliché.But whatever truth; b...Published: 26 Oct 2024 at 13:02hrs | 564 | by Staff Reporter
'ZiG must go'
The Zimbabwe Gold (ZiG) currency is facing mounting pressure from the business community, which is advocating for its removal due to increasing volatility, despite the Reserve Bank of Zimbabwe's (RBZ)...Published: 24 Oct 2024 at 08:02hrs | 2205 | by Staff reporter
Doji Candle: Understanding Its Role in Trading
The Doji candle stands out as one of the most intriguing candlestick patterns used by traders, offering a window into the market's state of uncertainty. It frequently appears during moments when buyer...Published: 09 Oct 2024 at 13:17hrs | 366 | by Staff Reporter
7 countries at risk of bankruptcy
About seven developing countries are currently in danger of facing bankruptcy or in need of a bailout due to piling debt which is slowly gearing towards a default level.Countries can file for ...Published: 09 Oct 2024 at 07:16hrs | 655 | by Staff reporter
FXGT.com Unveils NEW FXGT App and the Web-Based FXGT.com Trader Platform
In an era where technology is reshaping the landscape of online trading, FXGT.com has officially launched two innovative products designed to enhance the trading journey for all users: the FXGT Ap...Published: 05 Oct 2024 at 11:31hrs | 21 | by Staff reporter
Mnangagwa frets over resurgent black market
In his State of the Nation Address (SONA) delivered during the official opening of the second session of the 10th Parliament in Mt Hampden, President Emmerson Mnangagwa expressed deep concern over the...Published: 03 Oct 2024 at 08:58hrs | 613 | 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 | 1081 | by Staff reporter
Zimbabwe bankers warn of price increases
Bankers in Zimbabwe are raising alarms about potential price increases and shortages of basic commodities following the recent devaluation of the Zimbabwe Gold (ZiG) by over 40% by the Reserve Bank of...Published: 03 Oct 2024 at 08:56hrs | 299 | by Staff reporter
Zimbabwe shops impose limits amid panic-buying?
Some shops across Zimbabwe have imposed "one item per person" rules for products such as milk to fend off panic-buying triggered by a new loss of faith in the country's latest currency.Last we...Published: 02 Oct 2024 at 07:57hrs | 1181 | by Staff reporter
Cracking the code on forex trading: How does it really work?
Engaging in forex trading presents an opportunity for South Africans to participate in the international financial scene and potentially make profits by leveraging currency fluctuations. There is grow...Published: 27 Sep 2024 at 23:12hrs | 533 | by Staff Reporter
Zimbabwe injects US$64m into foreign currency market
The Reserve Bank of Zimbabwe (RBZ) has injected US$64 million into the foreign exchange market in response to a growing demand for hard currency, ensuring that all bona fide foreign currency applicati...Published: 20 Sep 2024 at 07:49hrs | 240 | by Staff reporter
ZiG currency another scam
Introducing new currency every time and again is not the panacea to the challenges that the country is currently facing.The issue of currency needs a lot of input and everyone's heads on the d...Published: 19 Sep 2024 at 20:57hrs | 3770 | by Leonard Koni
Mnangagwa's govt in a fix as ZiG is rejected
The Zimbabwean government's efforts to promote the use of the Zimbabwe Gold (ZWG) currency have hit a major hurdle, as wheat farmers have refused to accept payment in local currency for their deliveri...Published: 18 Sep 2024 at 08:30hrs | 5450 | by Staff reporter
Chinese national faces deportation from Zimbabwe
Chinese businessman Haozuan Song is currently detained at Harare Remand Prison and faces possible deportation to China over an unspecified offense, while his mother, controversial businesswoman Li Son...Published: 16 Sep 2024 at 13:42hrs | 2889 | by Staff reporter
Starlink rocks Zimbabwe market
The entry of SpaceX's Starlink into the Zimbabwean market is poised to shake up the telecommunications sector, potentially leading to significant changes in service delivery, cost structures, and over...Published: 11 Sep 2024 at 11:59hrs | 2990 | 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 | 9582 | by Staff reporter
Zimbabwe Central Bank issues revised forex market guidelines
The Reserve Bank of Zimbabwe (RBZ), through its Exchange Control department, has issued updated guidelines and compliance parameters for the interbank foreign exchange market, emphasizing the limitati...Published: 04 Sep 2024 at 07:46hrs | 126 | by Staff reporter
Zimbabwe central bank injects US$190 million to meet forex demand
Zimbabwe's central bank has injected US$190 million into the foreign-exchange market to meet demand for dollars and maintain economic stability since the introduction of a new bullion-backed currency,...Published: 03 Sep 2024 at 14:37hrs | 466 | by Staff reporter
Zimbabwe central bank says it's intervening in foreign exchange market
Zimbabwe's central bank said it's "strategically intervening" in the foreign-exchange market to meet demand for dollars among lenders amid a slump in the nation's bullion-backed currency.The i...Published: 31 Aug 2024 at 11:14hrs | 629 | by Staff reporter
Rand manipulators must be held accountable by Parliament
African Transformation Movement (ATM) leader Vuyo Zungula has called for those responsible for the rand manipulation to face the wrath of the law.It is alleged that more than 28 banks conspire...Published: 28 Aug 2024 at 14:33hrs | 517 | by Staff reporter
Pick n Pay faces probe over alleged racism, forex looting
An investigation has been launched by the National Employment Council (NEC) for the Commercial Sectors in Zimbabwe into allegations of racism, foreign currency looting, and unfair labour practices at ...Published: 20 Aug 2024 at 16:16hrs | 1161 | by Staff reporter
RBZ has no plans to grab foreign currency received from diaspora
The Reserve Bank of Zimbabwe (RBZ) has dismissed rumors that it plans to forcefully withhold all foreign currency from diaspora remittances. This follows a viral vid...Published: 17 Aug 2024 at 12:53hrs | 1364 | by Staff reporter
Boost for ZiG as gold deliveries soar
Zimbabwe saw a significant increase in gold deliveries in July, driven mainly by contributions from artisanal and small-scale miners. Deliveries surged by 33% to 3,495 kg from 2,618 kg in June...Published: 11 Aug 2024 at 18:33hrs | 345 | 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 | 234 | 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 | 491 | by Staff reporter
Neville Mutsvangwa's trial fails to take off
The trial of Neville Mutsvangwa, son of Zanu-PF spokesperson Christopher Mutsvangwa and Women's Affairs Minister Monica Mutsvangwa, did not proceed on Wednesday. Neville, who faces charges of ...Published: 19 Jul 2024 at 06:21hrs | 800 | by Staff reporter
NetOne's going concern status at risk
NetOne Private Limited, a telecommunications company in Zimbabwe, has been identified as technically insolvent and at risk of being unable to sustain its operations, according to a recent report. Rele...Published: 17 Jul 2024 at 06:51hrs | 628 | by Staff reporter
Zimra wins landmark forex tax dispute
In a significant ruling, the Supreme Court has declared that taxpayers cannot avoid paying taxes in foreign currency when their income or sales are in foreign currency. This landmark decision arose fr...Published: 16 Jul 2024 at 13:33hrs | 1539 | by Staff reporter
US$ shortage cripples Bulawayo road works
Bulawayo Mayor David Coltart highlighted significant challenges facing road maintenance in the city, citing a shortage of US dollars as a major hindrance. He explained to Southern Eye that co...Published: 12 Jul 2024 at 09:15hrs | 14 | by Staff reporter
Zimbabwe's ZiG primed for seamless international acceptance and usage
THE country's new currency, Zimbabwe Gold (ZIG) widespread acceptance locally will trigger a seamless acceptance regionally, Monetary Policy Committee member Mr Persistence Gwanyanya has said....Published: 10 Jul 2024 at 15:50hrs | 24 | 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 | 2 | by Staff reporter
Zimbabwe central bank dragged to court over forex
Linda Tsungirirai Masarira has filed an urgent High Court application against the Reserve Bank of Zimbabwe (RBZ), alleging that ordinary citizens are being unfairly constrained in accessing foreign cu...Published: 21 Jun 2024 at 11:30hrs | 12 | by Staff reporter
Zimbabwe goes after social media foreign currency dealers
The Financial Intelligence Unit (FIU) says it has been monitoring social media platforms where foreign currency dealers have been advertising and promoting their illegal trade.The FIU claims t...Published: 20 Jun 2024 at 14:34hrs | 8 | 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 | | by Staff reporter
Judge recuses herself from Mutsvangwa bail case
High Court judge Justice Esther Muremba has recused herself in the bail application for Zanu PF bigwigs Monica and Christopher Mutsvangwa's son, Neville, who is accused of violating the Exchange Contr...Published: 27 May 2024 at 10:17hrs | 7 | by Staff reporter
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