Search / John mangudya
Zimbabwe banks face bleak future
ZIMBABWE's banks may face hurdles in meeting new minimum capital thresholds by year end, analysts have warned.In a show of lack of confidence in the local currency, the Monetary Policy Committ...Published: 14 hrs ago | 542 | by Staff reporter
Zacc wades into gold smuggling
THE Zimbabwe Anti-Corruption Commission (Zacc) has been handed an explosive gold smuggling report that details well-knit gold smuggling by a coterie of gold buying barons, which is costing Zimbabwe bi...Published: 14 hrs ago | 54 | by Staff reporter
RBZ acts on foreign exchange rate manipulators
THE Reserve Bank of Zimbabwe (RBZ) has started acting on foreign exchange rate manipulators and has since frozen a bank account belonging to an entity identified as China Nanchang being the first casu...Published: 14 hrs ago | 120 | by Staff reporter
RBZ freezes accounts used for parallel market activities
THE Reserve Bank of Zimbabwe (RBZ) yesterday froze the bank accounts of a Chinese construction company, China Nanchang, on suspicion of injecting millions of dollars into the parallel market to buy fo...Published: 25 Jan 2020 at 08:06hrs | 4061 | by Staff Reporter
RBZ sets new capital requirements for banks
The Reserve Bank of Zimbabwe (RBZ) yesterday announced new US dollar-benchmarked capital requirements for banks of up to US$30 million which it says will ensure the stability of local financial instit...Published: 23 Jan 2020 at 06:40hrs | 2891 | by Staff reporter
Traders reject Zimbabwe dollar
While government remains adamant on the use of the local currency, signals on the ground show the Zimbabwe dollar is not popular among traders, including those in rural areas.In June last year...Published: 06 Jan 2020 at 14:34hrs | 7699 | by Staff Reporter
Currency stability tops RBZ priorities -
Reducing inflation and maintaining a stable exchange rate are the Reserve Bank of Zimbabwe (RBZ)'s top priorities in the new year to bolster President Mnangagwa's drive to increase production, grow th...Published: 03 Jan 2020 at 00:28hrs | 3702 | by Staff Reporter
Jonathan Moyo says 'enough is enough... Mnangagwa fails to take annual leave'
#Zim2020EnoughIsEnough Compatriots, much as I would like to, sadly I'm unable to wish you a happy & prosperous new year not because of anything personal but because happiness & prosper...Published: 01 Jan 2020 at 08:58hrs | 17964 | by Prof Jonathan Moyo
Battle for the RBZ and the 'Judas Iscariot' within?
One of Zimbabwe's financial publications had a very interesting, though not unusual story of one of the two Deputy Governors of the Reserve Bank of Zimbabwe (RBZ), Kupukile Mlambo, almost trashing the...Published: 25 Dec 2019 at 10:12hrs | 4175 | by Anthony Matutu
Zimbabwe, hobbled by a clash of egos
At the heart of Zimbabwe's economic paralysis is a personality clash.Finance Minister Mthuli Ncube and Reserve Bank of Zimbabwe Governor John Mangudya don't get on, are pursuing different agen...Published: 14 Dec 2019 at 08:25hrs | 622 | by Ray Ndlovu, Godfrey Marawanyika and Antony Sguazzin
'Air Zimbabwe to relaunch in 2020 with 5 planes'
FINANCE minister Mthuli Ncube says Air Zimbabwe will take off in earnest in 2020, with five planes.Ncube also told the National Assembly that Treasury was also going to assume the airline's to...Published: 13 Dec 2019 at 08:04hrs | 1075 | by Staff reporter
RBZ tightens monetary policy
The Reserve Bank of Zimbabwe (RBZ) says it will take measures to counter the threat of high and potentially inflationary money supply growth from the 2020 growth-oriented budget by maintaining a stran...Published: 03 Dec 2019 at 07:04hrs | 787 | by Staff reporter
This is how the cash gets onto the black market
The question is, how on this cursed land is money that the Reserve Bank of Zimbabwe (RBZ) is busy printing getting onto the black market in such huge amounts? The answer is, it's taking quite a team â...Published: 01 Dec 2019 at 06:11hrs | 3283 | by Tawanda Majoni
RBZ to roll out interbank e-trading platform
Monetary authorities are looking to enhance the efficiency of the foreign exchange interbank market by introducing a new electronic trading platform.The interbank market was introduced this Fe...Published: 01 Dec 2019 at 05:49hrs | 153 | by Staff rpeorter
Mnangagwa's govt barking up the wrong tree
NOT so long ago, we heard from Reserve Bank of Zimbabwe governor John Mangudya that there was a cartel of 10 individuals operating in Zimbabwe which controlled the southern African nation's foreign cu...Published: 26 Nov 2019 at 07:30hrs | 990 | by newsday comment
Come for more cash: RBZ
Banks have to continuously draw cash from the central bank to ensure uninterrupted supply to depositors, Reserve Bank of Zimbabwe (RBZ) Governor Dr John Mangudya has said.New cash and coins - ...Published: 24 Nov 2019 at 14:03hrs | 2006 | by Staff reporter
ZRP probes banks
THE Reserve Bank of Zimbabwe (RBZ) says a matter involving two banks alleged to have allowed their depositors to make withdrawals above the stipulated limit is now a police case.RBZ governor J...Published: 22 Nov 2019 at 18:26hrs | 4481 | by Staff reporter
RBZ conceals US$1bn fat cat loans
THE Reserve Bank of Zimbabwe (RBZ) has refused to hand over a list of beneficiaries of non-performing loans (NPLs) totalling US$1,13 billion which were inherited by the taxpayer via the Zimbabwe Asset...Published: 22 Nov 2019 at 18:12hrs | 5236 | by Staff reporter
Mortgages gold to pay loans
PARLIAMENT has accused the Reserve Bank of Zimbabwe (RBZ) of illegally mortgaging the country's future gold sales as security for the central bank's external loans while slamming the apex bank for fai...Published: 22 Nov 2019 at 18:08hrs | 305 | by Staff reporter
RBZ raids US$3,2bn in depositors' funds
THE Reserve Bank of Zimbabwe (RBZ) raided depositors' accounts, wiping out US$3,2 billion in the process, before introducing bond notes in 2016 and eventually outlawing the use of foreign currency in ...Published: 22 Nov 2019 at 18:07hrs | 5415 | by Staff reporter
Zimbabwe, global de-dollarisation case study - Prof Ncube
Zimbabwe is undergoing a de-dollarisation process that very few countries have successfully implemented and will need time to address the lingering effects of dollarisation, Finance and Economic Devel...Published: 18 Nov 2019 at 06:32hrs | 977 | by Staff reporter
Mthuli Ncube hails RBZ swift action on CBZ, Ecobank
Finance and Economic Development Minister Professor Mthuli Ncube has praised the Reserve Bank of Zimbabwe (RBZ) for swiftly acting against two banks alleged to have allowed their depositors to make wi...Published: 18 Nov 2019 at 06:26hrs | 1609 | by Staff reporter
Nothing amiss in cash withdrawals above stipulated limits, Mangudya
Reserve Bank of Zimbabwe Governor, Dr John Mangudya, says there is nothing amiss in depositors withdrawing cash above stipulated limits as exemptions are normal in the financial services sector....Published: 15 Nov 2019 at 19:21hrs | 5073 | by Staff reporter
ZANU PF Youth leader calls for Mthuli Ncube to resign
ZANU PF Youth League National Commissariat Godfrey Tsenengamu says the Youth League will be marching to the Reserve Bank of Zimbabwe on Monday to push for the resignation of Governor John Mangudya and...Published: 15 Nov 2019 at 09:20hrs | 9379 | by Mandla Ndlovu
Zimbabwe to enforce 'use it or lose it' policy for mining assets
Zimbabwe will vigorously enforce a policy to force companies to develop their mining assets and not keep the land for speculative purposes, Mines minister Winston Chitando said on Wednesday.Ch...Published: 15 Nov 2019 at 06:32hrs | 410 | by Staff reporter
Can new Zimdollar relieve the chronic cash crunch?
Gason Mukuvadzi, a lanky man with boyish looks, sits behind a makeshift desk in Mbare's Mupedzanhamo centre. An umbrella canvas shelters him from the blistering sun as he waits for customers looking t...Published: 15 Nov 2019 at 06:19hrs | 367 | by Staff reporter
Ecobank, CBZ fingered in new notes, coins withdrawal scandal
THE Reserve Bank of Zimbabwe (RBZ) has said appropriate disciplinary measures will be taken against Ecobank Zimbabwe and CBZ Bank after two clients withdrew $15 000 and $44 180 respectively from the t...Published: 15 Nov 2019 at 06:14hrs | 581 | by Staff reporter
Ecobank in hot soup over cash abuse
Reserve Bank of Zimbabwe (RBZ) says Ecobank is responsible for releasing the wads of brand new notes circulating on social media. RBZ Governor Dr John Mangudya has this afternoon indicated tha...Published: 14 Nov 2019 at 17:10hrs | 3334 | by Staff Reporter
Let's give the MPC time to deliver
The newly constituted Monetary Policy Committee (MPC) of the Reserve Bank of Zimbabwe (RBZ) had its inaugural meeting on the 28th and 29th of October 2019. This was another milestone for the Central B...Published: 14 Nov 2019 at 12:41hrs | 1561 | by Nathan Chikara
New notes, coins hit Bulawayo
EXCITED depositors yesterday flocked to their banking halls in Bulawayo to withdraw new notes and coins following the cash injection on Monday into the formal system by the Reserve Bank of Zimbabwe (R...Published: 14 Nov 2019 at 05:33hrs | 2241 | by Staff reporter
Once cash economy is taxed, who needs cash
There never was any possibility of keeping the bulk of the new notes and coins out of the informal sector, or at least the bulk of the first batches released to banks, since the main reason why most p...Published: 14 Nov 2019 at 05:28hrs | 551 | by Staff reporter
New notes and coins won't cause inflation, RBZ
Bank notes and coins introduced early this week to satisfy legitimate demand for coins and small notes will not fuel inflation, Reserve Bank of Zimbabwe (RBZ) Governor Dr John Mangudya has said....Published: 13 Nov 2019 at 16:58hrs | 1609 | by Staff reporter
Huge demand for cash
Depositors, who formed long queues at banks and building societies, were withdrawing new coins and notes yesterday after the Reserve Bank of Zimbabwe (RBZ) released the first $30 million on Monday, bu...Published: 13 Nov 2019 at 06:25hrs | 755 | by Staff reporter
Zimbabweans angered by $300 bank withdrawal limits
Zimbabweans finally got access to new low-denomination currency on Tuesday that authorities hope will end chronic cash shortages, but banks maintained an existing weekly withdrawal limit of $300 (US$2...Published: 12 Nov 2019 at 18:08hrs | 4034 | by Staff reporter
Zimbabwe banks begin disbursing new notes
Depositors in Harare have started accessing new notes as promised by the Reserve Bank of Zimbabwe Governor, Dr. John Mangudya.A snap survey in Harare's Central business district revealed that ...Published: 12 Nov 2019 at 17:50hrs | 1108 | by Staff reporter
RBZ seeks to raise $300m through TBs
GOVERNMENT is seeking to raise another $300 million through Treasury Bills (TBs) to finance its programmes, a month after issuing a sovereign paper with the same amount.In a statement yesterda...Published: 12 Nov 2019 at 07:22hrs | 196 | by Staff reporter
New notes and coins out today
Commercial banks collected $30 million of new notes and coins yesterday from the Reserve Bank of Zimbabwe and account holders should be able to start accessing their $300 weekly cash withdrawal ration...Published: 12 Nov 2019 at 07:10hrs | 319 | by Staff reporter
Cash withdrawals begin today
Commercial banks were collecting $30 million new notes and coins yesterday from the Reserve Bank of Zimbabwe (RBZ) and account holders should be able to start accessing their $300 weekly cash withdraw...Published: 12 Nov 2019 at 07:05hrs | 600 | by Staff reporter
Banks start collecting new notes from RBZ
BANK customers will be able to access cash at institutions they bank with starting tomorrow morning after the Reserve Bank of Zimbabwe began dispensing notes and coins to all banks across the country,...Published: 11 Nov 2019 at 20:32hrs | 1743 | by Staff reporter
Currency reforms can work if Zimbabweans want them to
YESTERDAY (November 11, 2019) the Reserve Bank of Zimbabwe (RBZ) started the process of injecting new notes into the financial system to improve the level of physical cash in circulation.This ...Published: 10 Nov 2019 at 08:55hrs | 800 | by Anthony Matutu
Zimbabwe's money merry go-round
Zimbabwe is trying everything in the book to address a currency crisis that has undermined its productive capacity and threatened its economic sustainability. But its measures so far seem to have had ...Published: 10 Nov 2019 at 08:45hrs | 263 | by Staff reporter
Policy inconsistency dogs economy
ZIMBABWE is again back in the jaws of policy inconsistency and discord, which characterised the late president Robert Mugabe's administration, pushing away foreign direct investment as a result, analy...Published: 10 Nov 2019 at 08:44hrs | 83 | by The Standard Editorial comment
Zimbabwe banks start issuing new notes, coins
THE Reserve Bank of Zimbabwe (RBZ) will tomorrow release the new Zimbabwe dollar notes and coins into the market, with depositors set to start withdrawing limited amounts when banks open in the mornin...Published: 10 Nov 2019 at 08:30hrs | 1053 | by Staff reporter
All set for stable Zimdollar
As the Reserve Bank of Zimbabwe releases $2 coins into circulation tomorrow ahead of the introduction of $2 and $5 Zim-dollar notes, Finance and Economic Development Minister Professor Mthuli Ncube is...Published: 10 Nov 2019 at 08:22hrs | 661 | by Staff reporter
Mthuli Ncube vows to defend Zimdollar
Finance and Economic Development Minister Professor Mthuli Ncube, has vowed to defend the stability and value of the Zimbabwe dollar against other (especially major) currencies to address concerns ove...Published: 06 Nov 2019 at 11:30hrs | 1785 | by Staff reporter
Govt splashing US$ 16m on new cars for ministers - still feeding blackholes, what a waste
"The Minister gave me an assignment about the purchase of Ministers' vehicles and we have agreed with the supplier of vehicles. We are going to buy these vehicles through a letter of credit so that yo...Published: 05 Nov 2019 at 12:35hrs | 1253 | by Wilbert Mukori
RBZ removes 'Bond Note' inscription on new currency
THE Reserve Bank of Zimbabwe (RBZ) has released the main features of the country's new currency effectively re-designated in June but having had its place held by the surrogate bond notes indicating t...Published: 05 Nov 2019 at 06:49hrs | 7424 | by newzimbabwe
Confusion over 'new currency'
CONFUSION reigns supreme ahead of the introduction of new coins and bank notes of the Zimbabwe dollar with the Reserve Bank of Zimbabwe (RBZ) yesterday releasing a statement that it will be injecting ...Published: 05 Nov 2019 at 06:49hrs | 2421 | by Staff reporter
$2 coins issuance date set
THE Reserve Bank of Zimbabwe (RBZ) will issue two-dollar coins on Monday next week and these will circulate alongside the two-dollar bond note, the Governor, Dr John Mangudya, said yesterday. ...Published: 05 Nov 2019 at 06:44hrs | 524 | by Staff reporter
Air Zimbabwe to receive two Malaysian planes
BELEAGUERED national flag carrier, Air Zimbabwe will soon take delivery of two aircrafts bought under a controversial arrangement that at the time reportedly involved now Minister in the Office of the...Published: 04 Nov 2019 at 05:52hrs | 860 | by newzimbabwe
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