Bulawayo24 News - Skyes! "it makes perfect sense"

Nampak terminates $25m sale of Zimbabwean unit

Nampak has announced the termination of its deal to sell its 51.43% stake in Nampak Zimbabwe to TSL for up to $25 million (R435 million). The transaction, initially announced in October last year, was halted after TSL informed Nampak that …

Published: 2 hrs ago | 33 | by Staff reporter

7 illegal forex dealers await bail ruling

Seven suspected illegal foreign currency dealers accused of engaging in money laundering and running an underground forex trading operation are expected back in court today for their bail ruling.The accused - Brenda Chirinda, Chipo Josephi…

Published: 05 Sep 2025 at 07:32hrs | 365 | by Staff reporter

RBZ defends exchange rate system

Reserve Bank of Zimbabwe (RBZ) Deputy Governor Dr Innocent Matshe has dismissed claims that the central bank is manipulating the foreign exchange market, insisting that the willing-buyer willing-seller (WBWS) system operates in line with i…

Published: 04 Sep 2025 at 08:33hrs | 598 | by Staff reporter

Massive US$100,000 fines for Zimbabwe forex offenders

The Reserve Bank of Zimbabwe (RBZ) has introduced heavy fines and tougher enforcement measures against individuals, companies, and financial institutions caught breaking exchange control regulations.In a policy statement issued on 15 Augus…

Published: 16 Aug 2025 at 13:13hrs | 478 | by Staff reporter

Zimbabwe's forex receipts jump 23%

Zimbabwe recorded a 23,1 percent surge in foreign currency receipts during the first half of 2025 compared to the same period last year, signalling growing confidence in the country's formal channels and resilience in its external sector.A…

Published: 15 Aug 2025 at 08:33hrs | 94 | by Staff reporter

Zimbabwe's forex receipts surge to US$7.3 billion

Zimbabwe recorded a significant boost in foreign currency receipts, raking in US$7.3 billion during the first half of 2025, according to the Reserve Bank of Zimbabweâ€™s (RBZ) latest Monetary Policy Statement (MPS).Presenting the Mid-Term …

Published: 09 Aug 2025 at 10:01hrs | 145 | by Staff reporter

Logistics firm in exchange control violation

Mapho Tradelink Procurement and Logistics Private Limited, a leading procurement and logistics company, has been taken to court for allegedly breaching the Exchange Control Act by making payments exceeding US$150,000 outside Zimbabwe witho…

Published: 08 Aug 2025 at 13:08hrs | 199 | by Staff reporter

Director arrested over US$7.6m payments for LP gas imports

Grant Wellington Thulisa (Pvt) Ltd, represented by its director Grant Chitate, has been dragged before the courts on allegations of making unauthorised foreign payments totalling US$7.6 million for the importation of liquefied petroleum (L…

Published: 05 Aug 2025 at 17:44hrs | 1062 | by Staff reporter

Mines and RBZ in crunch talks over forex retention

The Chamber of Mines of Zimbabwe has initiated fresh negotiations with the Reserve Bank of Zimbabwe (RBZ) to review the current foreign currency retention framework, citing growing concerns over worsening access to forex and the threat it …

Published: 25 Jul 2025 at 14:11hrs | 75 | by Staff reporter

Mines and RBZ in crunch talks over forex retention

The Chamber of Mines of Zimbabwe has initiated fresh negotiations with the Reserve Bank of Zimbabwe (RBZ) to review the current foreign currency retention framework, citing growing concerns over worsening access to forex and the threat it …

Published: 25 Jul 2025 at 14:11hrs | 46 | by Staff reporter

'Surge in forex inflows a boon for ZiG stability'

Zimbabwe's foreign currency receipts surged by 22 percent to US$6 billion in the first five months of 2025, according to the Reserve Bank of Zimbabwe (RBZ), a development analysts say strengthens the central bank's capacity to defend the Z…

Published: 14 Jul 2025 at 07:52hrs | 137 | by Staff reporter

Zimbabwe's foreign currency reserves surge

Zimbabwe's foreign currency reserves have maintained strong momentum, with the Reserve Bank of Zimbabwe (RBZ) reporting that, by the end of June 2025, the reserve holdings were more than three times higher than the stock of reserve money s…

Published: 10 Jul 2025 at 08:56hrs | 133 | by Staff reporter

Zimbabwe's RBZ scraps heavy-handed forex controls

The Reserve Bank of Zimbabwe (RBZ) has officially abandoned its stringent enforcement of exchange rate controls, marking a significant policy shift aimed at fostering market stability, restoring business confidence, and allowing the Zimbab…

Published: 03 Jul 2025 at 12:32hrs | 1696 | by Staff reporter

Mukuru named among top cross-border payment providers

Mukuru, a leading next-generation financial services platform, has once again secured its position among the world's most influential cross-border payment providers, earning a spot on the 2025 FXC Intelligence Cross-Border Payments 100 lis…

Published: 19 Jun 2025 at 11:25hrs | 255 | by Staff reporter

Zimbabwe govt squeezes miners for more forex

 Zimbabwe's mining industry is facing increased strain as government departments intensify demands for miners to pay taxes and fees in foreign currency-on top of the mandatory 30% surrender of export earnings-further squeezing the sec…

Published: 16 Jun 2025 at 14:48hrs | 200 | by Staff reporter

Zimbabwe exporters sound alarm over tough new forex rules

Zimbabwean exporters are facing fresh turbulence following the government's move to tighten foreign currency controls - scrapping critical export incentives and enforcing tougher surrender requirements. The decision has triggered alarm acr…

Published: 05 Jun 2025 at 11:34hrs | 2972 | by Staff reporter

Refineries under threat as RBZ gulps more forex

Zimbabwe's biggest mining companies have sounded alarm bells over the potential suspension of crucial expansion projects - including refineries valued at over US$432 million - following the Reserve Bank of Zimbabwe's (RBZ) indication of ti…

Published: 30 May 2025 at 12:18hrs | 657 | by Staff reporter

Bulawayo council staff caught in illegal forex deals

Bulawayo City Council (BCC) has revealed that several of its employees have been implicated in illegal foreign currency exchange dealings, further fueling public frustration over poor service delivery and long queues at the council's Reven…

Published: 05 Apr 2025 at 13:20hrs | 1344 | by Staff reporter

Illegal forex trader shot and robbed in Bulawayo

Bulawayo has been hit by a rise in violent crime, with an illegal foreign currency dealer becoming the latest victim after being shot and robbed of thousands of US dollars by an armed assailant on Monday night.The victim, Mthokozisi Nkomo,…

Published: 26 Mar 2025 at 06:50hrs | 682 | by Staff reporter

Concerns over RBZ's reduction of forex retention for horticulture exporters

The Horticultural Development Council (HDC) has expressed concerns about the Reserve Bank of Zimbabwe's (RBZ) recent decision to lower the foreign currency retention threshold for exporters from 75% to 70%. The policy change is seen as a m…

Published: 10 Feb 2025 at 09:41hrs | 232 | by Staff reporter

Zimbabwe central bank goes after informal traders forex, exporters' proceeds

The Reserve Bank of Zimbabwe (RBZ) has announced a further reduction in export retention proceeds, cutting them by an additional 5%, as part of measures aimed at boosting foreign currency reserves and stabilizing the economy. The new direc…

Published: 07 Feb 2025 at 06:43hrs | 1186 | 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 to foster greater currency stability a…

Published: 10 Nov 2024 at 10:41hrs | 172 | 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 resurgence of the parallel market, whi…

Published: 03 Oct 2024 at 08:58hrs | 615 | 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 still being interrogated and vetted for cou…

Published: 26 Jul 2024 at 06:33hrs | 495 | 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 from a legal dispute between the Zimbabwe…

Published: 16 Jul 2024 at 13:33hrs | 1541 | 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.ZiG was introduced in April as part of a raft o…

Published: 10 Jul 2024 at 15:50hrs | 25 | by Staff reporter

Zimbabwe's street currency traders to switch to WhatsApp

Zimbabwe's street currency traders are abandoning their regular spots in city centres for messaging platform WhatsApp to evade arrest as the central bank and police crackdown on the unofficial market blamed for contributing to currency cra…

Published: 20 May 2024 at 17:02hrs | 76 | by AStaff reporter

Mnangagwa's govt to extend ZiG currency crackdown to shops

The government intends to expand its crackdown on street currency traders to include retailers, ensuring that goods and services are priced using only the official exchange rate of the new ZiG currency.Finance, Economic Development, and In…

Published: 18 May 2024 at 12:38hrs | 16 | by Staff reporter

Monica Mutsvangwa going through a lot

Women Affairs Minister Monica Mutsvangwa expressed her distress, acknowledging the tumultuous period she is enduring, exacerbated by recent events including her husband's dismissal from Cabinet and her son Neville's arrest.Mutsvangwa, who …

Published: 18 May 2024 at 12:26hrs | 16 | by Staff reporter

Zimbabwe seeks to boost trade to bust sanctions

THERE is a need to increase trade with friendly countries as a strategy to counter illegal sanctions imposed on Zimbabwe by some powerful Western nations, President Mnangagwa said here yesterday after meeting executives from the world's le…

Published: 15 Feb 2024 at 10:02hrs | 1 | by Staff reporter

IMF advises Zimbabwe to adopt forex market reforms

As the instability of the beleaguered Zimbabwe dollar intensifies, the International Monetary Fund (IMF) has advised the government to adopt forex market reforms which are "more transparent and market-driven".  The IMF says the offici…

Published: 15 Feb 2024 at 10:01hrs | 2 | by Staff reporter

Zimbabwe forex policy chokes exporters

LISTED agricultural concern Ariston Holdings says the 25% export retention coupled with the huge disparity between the interbank exchange rate and the fair market rate used by suppliers is making some export lines unviable.Exporting agricu…

Published: 31 Jan 2024 at 06:59hrs | 1 | by Staff reporter

Telling my Access Finance story

FOLLOWING a recent public announcement by Access Finance Group, a local remittance and financial services company, that its chief executive Singathini Raymond Chigogwana is retiring and would be replaced by Salim Eceolaza, it became clear …

Published: 05 Oct 2023 at 15:07hrs | 39 | by Senziwani Sikhosana

Zimbabwe foreign currency receipts up US$5,5 billion

ZIMBABWE's foreign currency receipts reached US$5, 5 billion in the first half of 2023 driven by exports and diaspora remittances among other top earners, the Reserve Bank of Zimbabwe (RBZ) latest Monetary Policy Statement (MPS) has reveal…

Published: 27 Aug 2023 at 09:51hrs | 3 | by Staff reporter

Vehicle owners demand US$ from Zec

OWNERS of vehicles hired by the Zimbabwe Electoral Commission (Zec) for various election-related tasks have lamented receiving payment in local currency at the interbank rate instead of United States dollars.Zec occasionally hires vehicles…

Published: 14 Aug 2023 at 06:35hrs | 12 | by Staff reporter

Gardener steals 57 kg gold and forex from ex-employer

A BULAWAYO gardener who had access to his former employer's house in Killarney Suburb allegedly teamed up with a friend to sneak into the house on a number of occasions, where the duo stole about cash and 57 kg of gold.Andrew Chirasha (28)…

Published: 01 Aug 2023 at 20:52hrs | 10 | by Staff reporter

Government says NO to payment of bills in forex

THE directive late last week by the Government that all local councils must continue charging in local currency as opposed to United States dollars as had just been announced by the Harare City Council, has been welcomed by residents.Harar…

Published: 03 Jul 2023 at 07:08hrs | 14 | by Staff rporter

Prices, currency manipulation is corruption, says Zacc

THE Zimbabwe Anti-Corruption Commission (Zacc) has described the country's rampant price hikes and alleged currency manipulation as corruption.Speaking during a National Anti-Corruption Strategy Steering Committee meeting for 2023, Zacc ch…

Published: 17 Jun 2023 at 08:10hrs | 1 | by Staff reporter

Zimbabwe price manipulators to be locked up

EVIL machinations from the country's detractors to reverse successes registered by the Second Republic through asymmetrical warfare in the form of currency manipulation and price distortions will come to naught with perpetrators being brou…

Published: 14 Jun 2023 at 06:32hrs | 4 | by Staff reporter

Zimdollar nosedives

By close of business on Thursday, soldiers, police, health workers and other civil servants in Zimbabwe went home with the reality that their salaries could barely buy 30 loaves of bread.This after the government liberalised the exchange o…

Published: 09 Jun 2023 at 17:09hrs | 1 | by Staff reporter

RBZ clarifies new forex surrender policy

THE Reserve Bank of Zimbabwe (RBZ) is set to meet with the Bankers Association of Zimbabwe (BAZ) and Accountant General with a view to map the way forward on the use of foreign exchange from the 25 percent surrender portion of export proce…

Published: 02 Jun 2023 at 06:40hrs | 1 | by Staff reporter

ConCourt backs RBZ on US dollar conversion

The 2018 decision by the Reserve Bank of Zimbabwe (RBZ) to convert all US dollar balances in Zimbabwean bank accounts to local currency was quite constitutional the Constitutional Court ruled yesterday in a unanimous decision.Refusing to c…

Published: 01 Jun 2023 at 06:40hrs | 2 | by Staff reporter

ConCourt sets aside RTGS/US$ High Court ruling

THE Constitutional Court (ConCourt) has set aside a landmark ruling by High Court judge Justice Joseph Mafusire who ordered CABS Bank to pay a local businessman US$142 000, which it had converted to Real Time Gross Settlement (RTGS) during…

Published: 31 May 2023 at 07:02hrs | 7 | by Staff reporter

Forex speculators to face disciplinary action

THE market should expect significant restoration of stability in the pricing of basic goods in response to comprehensive Government measures while disciplinary action will be swiftly meted against businesses that fuel exchange volatility b…

Published: 23 May 2023 at 06:34hrs | 2 | by Staff reporter

Ncube frets over runaway forex rate

FINANCE minister Mthuli Ncube this week threatened to hike Zimbabwe's policy rate beyond 200%, if companies continue to dabble into parallel market activities.The Treasury chief, who spoke during the Zimbabwe International Trade Fair (ZITF…

Published: 28 Apr 2023 at 07:04hrs | 5 | by Staff reporter

Zesa mulls switch to forex-indexed power tariff

POWER utility Zesa Holdings Limited wants all of its clients, including industries, to pay their electricity bills in foreign currency to fulfil its power import commitments, Zimbabwe Independent can report.The State-run power firm has bee…

Published: 12 Feb 2023 at 07:26hrs | 1 | by Staff reporter

Zimra records forex revenue upsurge

ZIMBABWE'S tax agency says United States dollar income and corporate taxes recorded strong growth during the quarter ending 31 December 2022 compared to prior comparative period as companies paid salaries in hard currency to cushion worker…

Published: 04 Feb 2023 at 20:11hrs | 1 | by Staff reporter

Headmaster accused of concocting exchange rates for fees

SOME parents with children attending Mangwara Primary School in Kariba have accused the school headmaster of allegedly threatening them whenever they question the exchange rate the school uses to charge school fees.The parents allege that …

Published: 25 Jan 2023 at 17:16hrs | 8 | by Staff reporter

Zimbabwe miners in urgent plea for forex

THE Chamber of Mines of Zimbabwe says it is engaging authorities to come up with mechanisms that can accommodate the foreign currency requirements for the sector as shortages are weighing down the sector's potential driven by ongoing expan…

Published: 24 Nov 2022 at 04:59hrs | 185 | by Staff reporter

Harare pegs 2023 rates in forex

Harare City Council yesterday announced its 2023 budget that has rates indexed in US dollars with a high-density suburban holder set to fork out a minimum of US$23,15 in rates and fees a month, although the law insists that the payments ca…

Published: 10 Nov 2022 at 04:54hrs | 7 | by Staff reporter

Search / Forex

Get latest news by email:

Tagwirei splashes US$2m on Mnangagwa's birthday

Operation Dudula leader silent on claims of Zimbabwean origins

Harare shuts down 1,800 businesses in CBD

Zimbabwe targets US$1 billion import savings

Girl raped at knifepoint

Zimbabwe's prophet of doom speaks on de-dollarisation

Makarawu, Charamba storm into World Championship semis

Ministers to report to Zanu-PF Politburo

Zanu-PF benefactor, Harare in nasty property fight

Postal, courier volumes surge 39% in Zimbabwe

9 Chinese nationals to be deported over cocaine

Herbal concoctions linked to rise in prostate problems

Jetex sues Air Zimbabwe over DRC crew assistance

Defence Ministry tops Mutare City debtors list

Bulawayo woman champions virginity preservation project

Zimra investigating a sophisticated scam

Masvingo-Beitbridge road to close on September 19

Convicted Bosso fraudster to get a lenient sentence

Zimbabwe's time for dollar debate is over

Nampak terminates $25m sale of Zimbabwean unit

Masiyiwa snubs Zimbabwe on AI factories projects

Would learning how to use A.I. to communicate with animals make U.S. and China work together on other issues?

Zimbabwe's democracy crisis persists as we remain stuck at the bottom of global rankings

Is 2030 really a done deal, remember 2017

President Mnangagwa must respect the constitution

Background remover for corporate videos that impress clients

All is set for CGAIZ annual conference in Victoria Falls

US Senate tables second bill targeting South Africa

Mnangagwa confirms ZANU-PF corrupt, amid own schemes looting spree

You can leave the ghetto, but you can't remove the ghetto inside - Same with apartheid

Mnangagwa confirms ZANU-PF corrupt, amid own schemes looting spree

Is 2030 really a done deal, remember 2017

US Senate tables second bill targeting South Africa

Mnangagwa appoints new ambassadors

President Mnangagwa must respect the constitution

Geza's worthlessness is no mystery

SA soldiers, Zimbabweans arrested over cigarette

Operation Dudula leader silent on claims of Zimbabwean origins

Ministers to report to Zanu-PF Politburo

Woman jailed for stabbing hubby's girlfriend

News Team

Advertising