Search / John mangudya
RBZ resolves auction payment glitches
The Reserve Bank of Zimbabwe (RBZ) says it has resolved the delayed settlement of foreign currency auction payments that occurred at the end of last year, as the authorities continue to refine the sys...Published: 24 Feb 2021 at 05:44hrs | 413 | by Staff reporter
New RBZ Monetary Policy Committee members named
Finance and Economic Development Minister, Professor Mthuli Ncube, on Sunday, appointed five new members to the Reserve Bank of Zimbabwe Monetary Policy Committee (MPC). The new members,...Published: 23 Feb 2021 at 06:42hrs | 1100 | by Staff reporter
Zimbabwe's $50 note imminent
Zimbabwe announced on Thursday that it would shortly introduce a $50 note, while raising cash withdrawal limits to Z$2,000 per day from Z$1,000.The central bank also lifted its main lending ra...Published: 21 Feb 2021 at 22:30hrs | 1639 | by Staff reporter
Top banker Jinya makes grand return
IT is an appointment that many least expected. But ex-Nedbank managing director (MD) Charity Jinya made a surprise return to the country's banking industry on Saturday after Finance minister Mthuli Nc...Published: 21 Feb 2021 at 21:43hrs | 1747 | 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 | 1240 | by Staff reporter
'Inflation will drop to 10% by December 2021' - not as long as Zimbabwe remains a Banana Republic
"The Reserve Bank of Zimbabwe (RBZ) yesterday forecast annual inflation to plummet to less than 10% this year, driven by a good agricultural season, fiscal and financial sector stability," reported Bu...Published: 20 Feb 2021 at 08:43hrs | 258 | by Nomusa Garikai
RBZ projects inflation fall
THE Reserve Bank of Zimbabwe (RBZ) yesterday forecast annual inflation to plummet to less than 10% this year, driven by a good agricultural season, fiscal and financial sector stability.Zimbab...Published: 19 Feb 2021 at 07:16hrs | 382 | by Staff reporter
Eddie Cross quits
LEADING economist Eddie Cross has quit his role as a member of the Reserve Bank of Zimbabwe (RBZ)'s Monetary Policy Committee (MPC) less than two years into the role, Zimbabwe Independent reported....Published: 19 Feb 2021 at 07:14hrs | 6967 | by Staff reporter
RBZ probes shady tycoons and firms
THE Financial Intelligence Unit (FIU) - an arm of the Reserve Bank of Zimbabwe (RBZ) - has opened a fresh investigation into firms and individuals who are using shelf companies to siphon money from th...Published: 19 Feb 2021 at 07:03hrs | 1205 | by Staff reporter
Cash withdrawal limits, lending rates go up
THE Reserve Bank of Zimbabwe (RBZ) has increased withdrawal limits to $2 000 from $1 000 and reviewed upwards the bank policy and private sector lending rates as part of comprehensive measures to stre...Published: 19 Feb 2021 at 06:49hrs | 682 | by Staff reporter
Zimdollar will maintain a 'fragile stability' this year report
ZIMBABWE's currency will maintain a "fragile stability" this year, continuing from the volatilities that haunted the domestic unit even after the introduction of theforeign currency auction system...Published: 17 Feb 2021 at 06:11hrs | 800 | by Staff reporter
Zimbabwe businesses face transfer, pricing risks
BUSINESSES are facing transfer and pricing risks due to shortages of foreign currency and high inflation as the currency crisis strains the economy.This has come as a result of a waning invest...Published: 12 Feb 2021 at 15:46hrs | 245 | by Staff reporter
'Forex enough to stabilise rate'
The exchange rate of the Zimbabwean dollar against the US dollar will continue to hold steady on the weekly auction market because the country is earning enough forex to support critical imports, the ...Published: 12 Feb 2021 at 05:34hrs | 374 | by Staff reporter
Tagwirei tightens hold on Zim gold
AFTER buying more mines and banks, the mogul could become the country's top gold buyer. Business kingpin Kudakwashe Tagwirei, under United States sanctions since August, aims to expand his commanding ...Published: 10 Feb 2021 at 05:48hrs | 1306 | by Staff reporter
RBZ still optimistic about low inflation
Reserve Bank of Zimbabwe Governor, Dr John Mangudya, remains confident authorities will be able to maintain a lid on prices to curtail potential relapse into runaway inflation, following worrying incr...Published: 10 Feb 2021 at 05:29hrs | 211 | by Staff reporter
Mnangagwa replaces Mobutu Sese Seko as most corrupt African leader
"If you steal, do not steal too much at a time. You may be arrested. Steal cleverly, little by little."Shocking as it is, the above statement that apparently legitimises graft, is attributed t...Published: 06 Feb 2021 at 19:10hrs | 3792 | by Israel Dube
Conversations must go beyond the forex auction and focus on production
Driving through Zimbabwe's once vibrant industrial hubs in Belmont (Bulawayo), Paulington (Mutare), Southerton, Graniteside, Working, Msasa (all in Harare), and elsewhere, one gets the sense that the ...Published: 28 Jan 2021 at 22:06hrs | 601 | by Andrew Lampard
Conversations must go beyond the forex auction and focus on production
Driving through Zimbabwe's once vibrant industrial hubs in Belmont (Bulawayo), Paulington (Mutare), Southerton, Graniteside, Working, Msasa (all in Harare), and elsewhere, one gets the sense that the ...Published: 28 Jan 2021 at 16:57hrs | 419 | by Andrew Lampard
Mr Cross: Silence cannot be misquoted
In September 2019, Finance and Economic Development Minister, Professor Mthuli Ncube, appointed a nine-member Monetary Policy Committee (MPC) to influence the Reserve Bank of Zimbabwe (RBZ)'s monetary...Published: 25 Jan 2021 at 08:28hrs | 3883 | by Dr Tim Rainhard
Zimbabwe has voluntarily become the 10th province of South Africa
After protracted and emotional denials by Zanupf leaders that Zimbabwe is a country in crisis, masses of Zimbabweans that were stuck at Beitbridge border post a few weeks ago exposed Zimbabwe not only...Published: 21 Jan 2021 at 13:34hrs | 2773 | by Israel Dube
Covid-19 pummels Zimbabwe economy, managers
Business is concerned about the impact that coronavirus will have on the country's key human capital and the economy. RBZ Governor John Mangudya said the rising coronavirus deaths in the count...Published: 21 Jan 2021 at 06:55hrs | 1826 | by Staff reporter
'Zimbabwe printing $1 billion weekly to buy gold'
FORMER legislator and Monetary Policy Committee member Eddie Cross has made sensational claims that the Reserve Bank of Zimbabwe (RBZ) was printing $1 billion weekly mainly to buy gold.At the ...Published: 21 Jan 2021 at 06:46hrs | 3196 | by Staff reporter
'High value denominations will not affect inflation'
THE introduction of high value denominations into the economy will not result in high inflation as long as the Reserve Bank of Zimbabwe (RBZ) does not print too much money. Economic commentato...Published: 14 Jan 2021 at 07:52hrs | 346 | by Staff reporter
Zimbabwe to introduce new banknotes soon
THE Reserve Bank of Zimbabwe (RBZ) will soon introduce a new set of higher denomination banknotes to increase physical money supply, curb cash shortages and improve transacting convenience.Aut...Published: 10 Jan 2021 at 07:52hrs | 998 | by Staff reporter
RBZ backs down on exporters' free funds
THE central bank has made a raft of major reforms to stabilise the foreign exchange market, including immediately scrapping the much-loathed compulsory requirement to liquidate unutilised export proce...Published: 08 Jan 2021 at 20:25hrs | 482 | by Staff reporter
Surge in prices exposes profiteering businesses
THE recent surge in prices witnessed across a range of basic products is an indication of attempts at "profiteering" by businesses taking advantage of firm demand despite the strain of Covid-19. ...Published: 31 Dec 2020 at 10:32hrs | 169 | by Staff reporter
Zanu-PF Central Committee meets
The Zanu-PF Central Committee is expected to meet this morning at the party's headquarters in Harare starting at 10am. Defence and War Veterans Affairs Minister Oppah Muchinguri-Kashiri,...Published: 29 Dec 2020 at 06:53hrs | 227 | by Staff reporter
Electronic Fund Transfers fuel money laundering in Zimbabwe
CROSS-BORDER money traders are collecting huge sums in foreign currency in Zimbabwe and smuggling it into South Africa through the use of Electronic Funds Transfer (EFT).The illegal traders tu...Published: 27 Dec 2020 at 07:13hrs | 1041 | by Vusumuzi Dube
RBZ to lower borrowing costs
Monetary authorities agree that there is need to lower the cost of borrowing in Zimbabwe in order to support high production in the economy, but are still studying key fundamentals to see if that will...Published: 24 Dec 2020 at 05:04hrs | 927 | by Staff reporter
RBZ clarifies use of USD
RESERVE Bank of Zimbabwe (RBZ) Governor Dr John Mangudya has explained the use of US dollars in the country, including value and legal status of the virtual form of the greenback. This comes a...Published: 22 Dec 2020 at 06:40hrs | 545 | by Staff reporter
RBZ urged retailers to accept torn and soiled US$ bank notes
THE Reserve Bank of Zimbabwe (RBZ) governor, John Mangudya has urged retailers and other traders to accept both old and worn out US dollar bank notes as legal tender.The central bank chief's p...Published: 22 Dec 2020 at 06:32hrs | 329 | by Staff writer
Mangudya threatens to freeze businesses' bank accounts
RESERVE Bank of Zimbabwe (RBZ) governor John Mangudya has threatened to freeze the bank accounts of businesses which are taking advantage of the lower forex auction rate to make exchange gains through...Published: 21 Dec 2020 at 06:38hrs | 1288 | by Kennedy Kaitano
RBZ to crack whip on auction abusers
THE Reserve Bank of Zimbabwe (RBZ) says it will request the Financial Intelligence Unit (FIU) to close bank accounts of business entities that are pricing using exchange rates not linked to the ruling...Published: 21 Dec 2020 at 06:14hrs | 175 | by Staff reporter
CCZ bemoans price increases
THE Consumer Council of Zimbabwe (CCZ) has bemoaned the steady increase in prices, saying the trend defies the economic environment in the country.Rose Mpofu, the CCZ deputy director, said bus...Published: 20 Dec 2020 at 07:03hrs | 276 | by Staff reporter
Forex earnings inch closer to US$6 billion
The economy has been resilient for much of the year, with key macroeconomic fundamentals reflecting strong performance in the January to November period despite the fallout from the coronavirus, Reser...Published: 20 Dec 2020 at 06:40hrs | 135 | by Staff reporter
Minister Chitando dragged to court for 'grabbing' 8 gold claims
MINES Minister Winston Chitando is caught up in a controversial saga with a local businessman Yakub Ibrahim Mahomed who is accusing the senior government official of seizing eight "juicy" gold rich mi...Published: 20 Dec 2020 at 06:36hrs | 244 | by Staff reporter
Spooks investigate US$45m CAPS deal
ZIMBABWE's state security service, the Central Intelligence Organisation (CIO), is investigating a volatile commercial dispute that has erupted between the government and interim trustees of Caps Phar...Published: 19 Dec 2020 at 16:38hrs | 1261 | by Staff reporter
Mangudya slams Ncube tariff increases
RESERVE Bank of Zimbabwe (RBZ) governor John Mangudya has launched a rare scathing attack on the government for steeply increasing tariffs for public utilities, warning the decision will have serious ...Published: 18 Dec 2020 at 06:21hrs | 5336 | by Staff reporter
RBZ ends Fidelity Printers monopoly
THE Reserve Bank of Zimbabwe (RBZ) has privatised its gold refining business, ending a monopoly that has been enjoyed by Fidelity Printers and Refiners. Fidelity controls Zimbabwe's gold ...Published: 17 Dec 2020 at 07:06hrs | 941 | by Staff reporter
Zimbabwe Diaspora inflows set for record levels
Zimbabwe's Diaspora remittances are this year expected to close at record levels of US$940 million, despite economic disruptions caused by the Covid-19 pandemic. Estimates from the Reserve Ban...Published: 17 Dec 2020 at 06:47hrs | 236 | by Staff reporter
RBZ to sell Fidelity Printers & Refinery
Reserve Bank of Zimbabwe has announced its intention to unbundle and dispose of part of its stake in Fidelity Printers and Refiners.According to a statement from RBZ governor John Mangudya, th...Published: 16 Dec 2020 at 15:09hrs | 1901 | by Staff reporter
Zimbabwe central bank accessed US$1.5 billion in offshore facilities in 2019
The Reserve Bank of Zimbabwe said it accessed offshore facilities more than US$1.47 billion in 2019 for Zimbabwe for balance of payments support as well to liquefy the since abandoned foreign exchange...Published: 16 Dec 2020 at 14:05hrs | 452 | by Staff reporter
2020 - Top 10 Google Searches in Zimbabwe and what they mean
Google lists the most searched topics and queries by country, category, period in time and channel through its Google Trends offering. Looking at the Zimbabwean trends, one can have a snapshot of what...Published: 16 Dec 2020 at 09:51hrs | 2850 | by Edzai Zvobwo
Mthuli Ncube should increase 2% tax to 5%, says Eddie Cross
ECONOMIST Eddie Cross Friday left business executives and other invited guests at the CEO Africa Roundtable in Harare, in shock after he proposed that Finance Minister Mthuli Ncube must increase trans...Published: 05 Dec 2020 at 06:23hrs | 2464 | by Staff reporter
Firms evade remitting forex taxes
THE Zimbabwe Revenue Authority (Zimra) says it has detected a string of scams in which some companies charging for goods and services in foreign currency have evaded paying taxes in forex.This...Published: 04 Dec 2020 at 07:20hrs | 750 | by Staff reporter
RBZ orders Zimbabwe banks to give forex
Reserve Bank of Zimbabwe (RBZ) governor John Mangudya has ordered banks to settle transactions outside the public glare as he cracks the whip on the sector amid revelations some banks were refusing cl...Published: 03 Dec 2020 at 07:06hrs | 9523 | by Staff reporter
Mangudya warns money launderers
THE governor of the Reserve Bank of Zimbabwe (RBZ), John Mangudya, says authorities will step up the current crack down on individuals and companies that are moving large but unexplained sums of money...Published: 02 Dec 2020 at 06:35hrs | 2396 | by Staff reporter
Govt rules out return of US dollar
ZIMBABWE will not consider using the US dollar as its default tender again, saying it won't repeat its past mistake of abandoning the local currency."One of the biggest mistakes was dollarisin...Published: 30 Nov 2020 at 19:05hrs | 2673 | by Staff reporter
Fuel smugglers, tax evaders warned
Government has issued a stern warning to fuel smugglers and tax evaders, as it moves in to plug revenue leakages that have been negatively impacting the country's economic growth.A post-budget...Published: 30 Nov 2020 at 18:28hrs | 688 | by Staff Reporter
RBZ swoops on foreign entities
THE Reserve Bank of Zimbabwe (RBZ) has launched an investigation into the conduct of at least 15 foreign-owned companies, which have allegedly externalised millions of United States dollars, according...Published: 27 Nov 2020 at 07:07hrs | 4375 | by Staff reporter
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