Search / John mangudya
Of market forces and price hikes
Not too long ago, three months ago in fact, fuel in Zimbabwe was cheaper than bottled water and flights from the country were some of the cheapest around. This was thanks to a fixed exchange rate that...Published: 23 Apr 2019 at 07:13hrs | 472 | by newZWire
Rebirth of the Zimdollar
Zimbabwean central bank authorities have a traceable record of overnight monetary policy changes. Memories of the former Reserve Bank of Zimbabwe (RBZ) governor Gideon Gono era of monetary policy hip-...Published: 19 Apr 2019 at 11:09hrs | 1384 | by Paddington Masamha
Zimbabwe trade deficit drops by 90%
ZIMBABWE'S trade deficit dropped by 90% to $22,1 million in February this year with analysts attributing the decline to foreign currency shortages.Figures released by the Zimbabwe Statistics A...Published: 19 Apr 2019 at 07:26hrs | 303 | by Staff reporter
Chamisa's MDC unhappy with IMF assisting Zimbabwe
Cyclone Idai, which brought unprecedented destruction as incessant rain and gusty winds caused catastrophic damage, has prompted the International Monetary Fund (IMF) to agree to deepen the Fund's eng...Published: 15 Apr 2019 at 10:58hrs | 4044 | by Staff reporter
Mozambique threatens Zimbabwe over delayed wheat import payments
BEIRA port officials have threatened to stop Zimbabwe wheat cargo from using the terminal after inordinate delays in payment and collection of bonded consignments.Zimbabwe, through the Grain M...Published: 14 Apr 2019 at 15:45hrs | 607 | by Staff reporter
Zimbabwe economy stabilising, claims Mthuli Ncube
FINANCE minister Mthuli Ncube says Zimbabwe's economy is stabilising following the introduction of economic reforms announced under his Transitional Stabilisation Programme (TSP).Latest offici...Published: 13 Apr 2019 at 15:51hrs | 2005 | by Staff reporter
Mnangagwa fumes
PRESIDENT Emmerson Mnangagwa yesterday warned retailers and companies against "unjustified" price increases which he said had brought untold suffering to ordinary Zimbabweans.Incidentally, as ...Published: 12 Apr 2019 at 08:24hrs | 13368 | by Staff reporter
RBZ warns over wild interest rates
The Reserve Bank of Zimbabwe (RBZ) has warned domestic banks against arbitrary hikes of lending rates and called for a fine balancing act in dealing with cost and inflationary pressures to avoid tippi...Published: 12 Apr 2019 at 07:28hrs | 2102 | by Staff reporter
IMF, Zimbabwe agree on policies & reforms
The International Monetary Fund and Government have reached agreement on macroeconomic policies and structural reforms that can underpin a Staff Monitored Programme. This follows a visit ...Published: 11 Apr 2019 at 07:30hrs | 1841 | by FinX
Lawyers derail Parliament committee hearing
ORAL evidence of the Parliamentary Privileges Committee set up to look into a matter involving four legislators affiliated to the Mines Committee who allegedly demanded a $400 000 bribe from businessm...Published: 09 Apr 2019 at 15:23hrs | 642 | by Staff reporter
Ncubenomics
In February, Reserve Bank Governor, John Mangudya announced the introduction of the RTGS dollar - the currency that confirmed what we knew all along: one is not to one. The RTGS dollar was initially s...Published: 09 Apr 2019 at 15:19hrs | 3337 | by Kubatana
Mangudya slams business over prices
RESERVE Bank of Zimbabwe Governor Dr John Mangudya yesterday slammed businesses for wantonly raising prices of basic commodities based on the movement of the exchange rate saying it was not a signific...Published: 09 Apr 2019 at 07:24hrs | 905 | by Staff reporter
Reserve Bank of Zimbabwe broke, says Biti
PARLIAMENT'S Public Accounts Committee chairperson Tendai Biti says the Reserve Bank of Zimbabwe (RBZ) is effectively broke after government ran up its overdraft facility with the bank to finance its ...Published: 08 Apr 2019 at 13:56hrs | 3070 | by Staff reporter
Mthuli Ncube's RTGS $ under siege
ZIMBABWE's local currency, the RTGS dollar, has shed more than 20 percent of its value since its introduction as the availability of foreign currency on the formal market remains subdued.By Fr...Published: 07 Apr 2019 at 12:43hrs | 2043 | by Staff reporter
Mnangagwa's currency 'joke in bad taste'
AN off-hand comment regarding the local RTGS currency, by President Emmerson Mnangagwa has left the country's biggest opposition party, the MDC fuming.Mnangagwa told victims of Cyclone Idai in...Published: 07 Apr 2019 at 08:35hrs | 534 | by newzimbabwe
Zimbabwe tobacco sales plummet 85%
Zimbabwe's tobacco sales have plunged 85% with deliveries reaching only 1,6 million kg in the first 10 days of trade compared to the 10,9 million kg sold last year, statistics from the industry regula...Published: 05 Apr 2019 at 07:14hrs | 1331 | by Staff reporter
WATCH: Mnangagwa mocks bond note, celebrates 'real money'
President Emmerson Mnangagwa Thursday mocked the local RTGS currency saying it was not real currency as compared to the United States dollar.He said this in Ngangu, Chimanimani where he had vi...Published: 05 Apr 2019 at 07:05hrs | 3174 | by newzimbabwe
Understanding the ZAMCO business model
There has been a lot of talk about the Zimbabwe Asset Management Company (Zamco) lately, particularly after the appearance of the Reserve Bank of Zimbabwe governor, John Mangudya, before the Parliamen...Published: 04 Apr 2019 at 07:02hrs | 507 | by Vince Musewe
Zimbabwean banks ask RBZ to lift interest-rate cap
Zimbabwe's lenders, which include units of Standard Bank Group and Ecobank, appealed to the central bank to raise interest rates that have been capped at 12% for the past two years, saying this would ...Published: 03 Apr 2019 at 20:22hrs | 1547 | by Bloomberg
RTGS$, US dollar rate to converge with black market rate
The formal RTGS$ rate to the US dollar will converge with the parallel market rate in the short term and halt the inflationary pressure being exerted on the economy, according to Industry and Commerce...Published: 02 Apr 2019 at 08:04hrs | 2761 | by Staff reporter
Who is profiting from negative reporting?
Not so long ago, Aljazeera correspondent Haru Mutasa was denied a visa by one Western embassy ostensibly because of lack of a guarantee that she would return home.While it is the prerogative o...Published: 30 Mar 2019 at 22:44hrs | 347 | by Ranga Mataire
Govt, Zimra authorities in standoff over 2% tax
A standoff - which disrupted the start of the tobacco marketing season last week - has erupted between the Finance Ministry and the Zimbabwe Revenue Authority (Zimra) over the operationalisation of th...Published: 29 Mar 2019 at 12:07hrs | 1594 | by Staff reporter
Econet increases voice call tariffs
THE country's biggest cellular network, Econet Wireless Zimbabwe, has increased tariffs for local voice calls to as high as RTGS$2,24 per minute. The new tariff adjustments come into effect from...Published: 28 Mar 2019 at 23:42hrs | 2960 | by Staff reporter
Mangudya's attempt to throttle USD black market falls flat
Zimbabwe's attempt to ease a dollar shortage and stop its currency from plunging in the black market is showing little sign of working.The southern African nation's currency, known as the RTGS...Published: 28 Mar 2019 at 20:28hrs | 4489 | by Bloomberg
Prices of goods continue to go up
Prices of mostly basic commodities have significantly gone up over the past month, with analysts blaming it on exchange rate developments. A survey by the Daily News yesterday showed that prices of ba...Published: 28 Mar 2019 at 12:55hrs | 3231 | by Staff reporter
'US$45m traded on the interbank forex market over past 3 weeks'
THE Reserve Bank of Zimbabwe (RBZ) governor John Mangudya says US$45 million has been traded over the past three weeks of the interbank forex market, a 25% increase in the average weekly trades compar...Published: 28 Mar 2019 at 07:24hrs | 965 | by Staff reporter
Exchange liberalisation right step: ICAZ
THE liberalisation of the foreign exchange rate by the Reserve Bank of Zimbabwe (RBZ) in this year's Monetary Policy Statement (MPS) has standardised financial reporting and done away with distortions...Published: 27 Mar 2019 at 23:06hrs | 123 | by Staff reporter
Zimbabwe internet service providers peg services in US$
ZIMBABWE's major internet service providers have pegged their broadband services in United States dollars in response to measures announced in the 2019 Monetary Policy Statement (MPS) presented in Feb...Published: 27 Mar 2019 at 22:49hrs | 899 | by Staff reporter
Alternative currencies still legal tender in Zimbabwe
Legal think tank Veritas says the use of alternative currencies remains legal as Statutory Instruments (SIs) 32 or 33 of 2019 do not prohibit their use for pricing, recording debts, accounting and set...Published: 26 Mar 2019 at 06:18hrs | 596 | by Staff reporter
Solution to Zimbabwe's problems is political
Internationally acclaimed local economist Tony Hawkins says Zimbabwe's economic revival hinges on the building of consensus between the ruling Zanu-PF and the country's main opposition, the MDC....Published: 25 Mar 2019 at 07:17hrs | 1356 | by Staff reporter
Afreximbank grants Zimbabwe interbank forex trade loan
Cairo-based Africa Export and Import Bank (Afreximbank) has extended an undisclosed amount in lines of credit to Zimbabwe's interbank foreign exchange trading to stabilise the forex supply...Published: 24 Mar 2019 at 18:55hrs | 2914 | by Staff reporter
Zimbabwe banks must support the interbank trading
THE interbank market, revived by the Reserve Bank of Zimbabwe (RBZ) recently, has gotten off to a slow start because the majority - if not all the banks - are still in the process of putting their sys...Published: 24 Mar 2019 at 14:11hrs | 522 | by Andrew Lampard
Zesa to hike electricity tariffs in line with interbank rates
STATE power utility, the Zimbabwe Electricity Supply Authority (Zesa) is mulling a tariff hike, it has emerged.This despite screams to the contrary following social media reports that Zesa was...Published: 23 Mar 2019 at 05:45hrs | 1719 | by newzimbabwe
'Interbank market won't be manipulated'
Mechanisms have been put in place to ensure that the foreign currency interbank market will not be manipulated, Finance and Economic Development Minister Professor Mthuli Ncube has said. This ...Published: 19 Mar 2019 at 06:25hrs | 337 | by Staff reporter
We cannot blame Nelson Chamisa without blaming all of us
We are under sanctions from the United States, the European Union and other Western outposts like Australia, New Zealand and Canada, and the ruin of the sanctions is without doubt. Our industr...Published: 18 Mar 2019 at 06:40hrs | 2558 | by Reason Wafawarova
Mthuli Ncube wages war against surging inflation
Zimbabwe's annual inflation has risen to a 10-year high since hyperinflation, but month-on-month prices are beginning to drop as monetary reforms aimed at combating inflation, addressing foreign curre...Published: 17 Mar 2019 at 18:08hrs | 1002 | by Staff reporter
RBZ, CZI push for interest on forex accounts
The Reserve Bank of Zimbabwe (RBZ) and industry are currently engaging banks to offer interest on foreign currency deposits in order to attract more inflows, particularly those with a long-term tenure...Published: 17 Mar 2019 at 08:33hrs | 198 | by Staff reporter
Mangudya forecasts RTGS$ equilibrium with US dollar
RESERVE Bank of Zimbabwe (RBZ) governor John Mangudya forecasts an exchange rate equilibrium between the Real-Time Gross Settlement (RTGS) dollar and the United States dollar on the inter-bank trading...Published: 15 Mar 2019 at 17:17hrs | 6698 | by Staff reporter
Embargoes throttle Zimbabwe's financial system
Earlier this month, United States President Donald Trump extended the economic sanctions against Zimbabwe by a year, claiming that new Government's policies continue to pose an "unusual and extraordin...Published: 15 Mar 2019 at 05:50hrs | 344 | by Tawanda Musarurwa
Mthuli Ncube to defend RTGS dollar
THE local surrogate currency formally known as Bond Note and recently christened the RTGS dollar is legal tender whether citizens like it or not, Finance Minister Mthuli Ncube said Thursday.Nc...Published: 15 Mar 2019 at 05:49hrs | 725 | by newzimbabwe
Treasury still to direct banks on inter-bank trade: MDC-T MP
MDC-T legislator Priscilla Misihairabwi-Mushonga has alleged that Finance minister Mthuli Ncube has not instructed banks to implement the United States dollar to RTGS dollar 1:2,5 inter trade rate ann...Published: 14 Mar 2019 at 07:45hrs | 369 | by Staff reporter
Chronic investor mistrust dogs Zimbabwe
Zimbabwe continues to suffer from investor mistrust and capital flight, as analysts cite lingering curremcy risks, policy inconsistences, high inflation and socio-economic instability among the factor...Published: 14 Mar 2019 at 07:42hrs | 333 | by Staff reporter
Zimbabwe trade registers $44,2m deficit
ZIMBABWE'S trade opened the year in the negative, registering a $44,2 million deficit in January, latest data from the statistics agency has shown.Figures released by the Zimbabwe Statistics A...Published: 14 Mar 2019 at 05:28hrs | 1159 | by Staff Reporter
RTGS slides against the dollar
For investors who doubted Zimbabwe would let market forces determine the price of its new currency, there's evidence it's doing just that. The southern African nation's central bank has allowe...Published: 13 Mar 2019 at 22:47hrs | 7366 | by Staff reporter
Has Zimbabwe become an Oliver Twist?
A couple of days ago, central bank governor John Mangudya aptly described Zimbabwe in Parliament as "a step child in a family of nations."What an apt description! This is exactly what Zimbabwe...Published: 13 Mar 2019 at 12:24hrs | 658 | by Editorial - Daily News
Mnangagwa sued over RTGS currency
Harare businessman and University of Zimbabwe (UZ) lecturer, Shakespear Hamauswa, has petitioned the High Court seeking a court order to declare unconstitutional the Presidential (Temporary Measures) ...Published: 13 Mar 2019 at 07:13hrs | 4141 | by Staff reporter
Bulawayo companies struggling to access RBZ's forex interbank market
BUSINESSES in Bulawayo say they are struggling to access foreign currency from the interbank market due to its unavailability, contrary to the central bank's statement that the firms could not afford ...Published: 13 Mar 2019 at 07:03hrs | 760 | by Staff reporter
Tendai Biti's mischief exposed
The recent summoning of the Reserve Bank Governor, Dr John Mangudya, to appear before the Parliamentary Public Account Portfolio Committee (PAC) has exposed Tendai Biti, the Committee Chairman of usin...Published: 12 Mar 2019 at 22:29hrs | 7816 | by Staff reporter
Mangudya taunts Mthuli Ncube
Reserve Bank of Zimbabwe (RBZ) governor John Mangudya yesterday denied that the central bank was involved in any quasi-fiscal activities and called out Finance minister Mthuli Ncube and parliamentary ...Published: 12 Mar 2019 at 10:05hrs | 3465 | by Staff reporter
Govt assures pensioners
Government has assured pensioners that they will not lose their savings following the floating of the exchange rate and the introduction of the new RTGS dollars as legal tender. Presenting the...Published: 12 Mar 2019 at 06:17hrs | 2538 | by Staff reporter
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