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Kupukile Mlambo appointed chief executive of the Sovereign Wealth Fund of Zimbabwe
Former Reserve Bank of Zimbabwe deputy governor Kupukile Mlambo, who holds a PhD in economics from Gothenburg University in Sweden, has been appointed chief executive of the US$100m Sovereign Wealth F...Published: 07 Dec 2022 at 19:14hrs | 3 | by Staff reporter
Matshe named deputy governor of the RBZ
Economist Innocent Matshe was on Thursday named deputy governor of the Reserve Bank of Zimbabwe, with effect from October 1.Matshe takes over from Kupukile Mlambo, whose term expired in June a...Published: 13 Oct 2022 at 20:08hrs | | by Staff reporter
Zimbabwe forex inflows to hit record high
ZIMBABWE'S foreign currency earnings are poised to hit record high since 2010, spurred by mineral exports and diaspora remittances, the Reserve Bank of Zimbabwe (RBZ)said.As of October 2021, t...Published: 05 Nov 2021 at 06:37hrs | | by Staff reporter
Businesses told to comply with bank rate
RESERVE Bank of Zimbabwe (RBZ) Deputy Governor Dr Kupukile Mlambo has urged captains of industry and businesses to comply with the foreign currency auction exchange rate and price reasonably to avoid ...Published: 31 Oct 2021 at 06:56hrs | | by Staff reporter
Forex auction revitalises economy, claims RBZ
THE foreign currency auction introduced by Government last year has been critical in revitalising the economy despite deliberate inflation of black market exchange rates by some unscrupulous businesse...Published: 15 Oct 2021 at 06:18hrs | 1 | by Staff reporter
'Zimbabwe has enough forex to sustain economy'
THE foreign currency auction introduced by Government last year has been critical in revitalising the economy despite deliberate inflation of black market exchange rates by unscrupulous businesses and...Published: 15 Oct 2021 at 06:17hrs | | 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 | | 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 | | by Staff reporter
Mthuli Ncube announces key appointments at four parastatals
Finance and Economic Development Minister, Professor Mthuli Ncube has announced key appointments at four parastatals falling under his portfolio.The Minister announced the appointment of new b...Published: 23 Jun 2019 at 11:03hrs | 8 | by Staff Reporter
Zimbabwe imports drop 31%
Zimbabwe's imports for the first four months of the year to April 2019 dropped 31 percent to US$1,5 billion from US$2,2 billion registered in the same period last year, as the country's import bill co...Published: 12 Jun 2019 at 06:50hrs | | by Staff reporter
RBZ rejects gold miners' demand
ZIMBABWE is not in a position to liberalise domestic gold marketing and buying as this will negatively affect the flow of foreign currency into the economy, Reserve Bank of Zimbabwe (RBZ) deputy gover...Published: 11 Jun 2019 at 07:03hrs | | by Staff reporter
Lack of confidence hampers FDI inflows
THE country's hopes of attracting meaningful foreign direct investment (FDI) on the back of the ‘Zimbabwe is open for business mantra' will remain dead in the water, unless the government addresses ...Published: 07 Jun 2019 at 07:28hrs | | by Staff reporter
'Embrace RTGS dollar for local trade'
RESERVE Bank of Zimbabwe (RBZ) deputy governor Dr Kupukile Mlambo has called on Zimbabweans to embrace the reference RTGS dollar for domestic transactions and reduce pressure on foreign currency requi...Published: 05 Jun 2019 at 07:53hrs | | by Staff reporter
Increase foreign currency supply: IMF
THE International Monetary Fund (IMF) says Zimbabwe must step up efforts to increase foreign currency supply and allow exporters to sell their earnings directly on the interbank market to improve liqu...Published: 04 Jun 2019 at 07:12hrs | | by Staff reporter
'Black market rates to tumble'
RESERVE Bank of Zimbabwe (RBZ) top officials yesterday insisted that the parallel market rates will soon tumble because the current balance of RTGS dollars in circulation cannot sustain the prevailing...Published: 31 May 2019 at 07:41hrs | | by Staff reporter
Zimdaba II - Zimbabwe achieving its investment goals - more opportunities available
The recently concluded Zimdaba II, held at the Royal Geographical Society, London on 9th and 10th April highlighted something that tends to be overlooked when reporting on Zimbabwe, and that is the fa...Published: 15 Apr 2019 at 10:13hrs | | by Staff reporter
Non-taxable income bracket needs review
Finance minister Mthuli Ncube needs to reconsider his decision to totally throw out of the window suggestions by Members of Parliament for the non-taxable income threshold to be raised to $400....Published: 03 Jan 2019 at 14:58hrs | | by Staff reporter
Matemadanda demands more 'Thank You' for war vets
DEPUTY Defence minister Victor Matemadanda on Wednesday pleaded for more funding to be channelled to the war veterans' as a "Thank You" for their role during the liberation struggle.Matemadand...Published: 02 Nov 2018 at 06:11hrs | | by Staff reporter
'RBZ must be as clean as possible'
The Reserve Bank of Zimbabwe has been under scrutiny following the suspension of four directors - Messrs Mirirai Chiremba (financial intelligence), Norman Mataruka (bank supervision), Gresham Muradzik...Published: 28 Oct 2018 at 09:09hrs | | by Staff reporter
'Adopting Chinese currency makes sense,' says RBZ
The adoption of renmimbi/yuan as a reserve currency, will help the country repay loans and grants from China, the Reserve Bank of Zimbabwe has said.Zimbabwe and China have strong bilateral rel...Published: 30 May 2018 at 08:08hrs | | by Staff reporter
Mnangagwa's vision 2030 gets the nod
Zimbabwe's vision to become a middle-income economy by 2030 is achievable if the government invests in productive sectors and implement policies that encourage investment as well as entrepreneurial de...Published: 15 Apr 2018 at 19:04hrs | | by Staff reporter
Cash situation improves, says RBZ
The cash situation has marginally improved compared to the situation that obtained in the last two years, mainly because of the surge in export receipts, the Reserve Bank of Zimbabwe (RBZ) says. ...Published: 23 Mar 2018 at 07:23hrs | | by Staff reporter
Mining can generate $18bn annually
ZIMBABWE'S mining sector has the capacity to generate $18 billion per annum from its total 800 mines, according to a mining consultancy firm.In a brief at the two day Zimbabwe Mining Investmen...Published: 28 Feb 2018 at 05:46hrs | | by Staff reporter
Companies face export facilities challenges
COMPANIES are struggling to access export financing facilities availed through local banks by the Reserve Bank of Zimbabwe (RBZ) with some banks allegedly expressing ignorance over the facilities' dis...Published: 15 Feb 2018 at 05:38hrs | | by Staff reporter
RBZ mulls firms retooling package
THE Reserve Bank of Zimbabwe (RBZ) is working on providing long-term funding for retooling to local companies ahead of the envisaged massive investment under the new economic order, an official said y...Published: 15 Feb 2018 at 05:37hrs | 1 | by Staff reporter
Investors smile on Zimbabwe?
Prospects for local industrial growth are brighter this year, with more company resuscitations expected as the country continues to gain ground as a fertile investment destination, a senior official h...Published: 11 Feb 2018 at 07:42hrs | | by Staff reporter
Zimbabweans stash $1 billion offshore
FUNDS held by Zimbabweans in offshore banks rose to US$1 billion last year, having declined to US$300 million four years ago, following escalating political risk and uncertainty at home, Reserve Bank ...Published: 14 Dec 2017 at 14:34hrs | | by Staff reporter
Reserve Bank of Zimbabwe rules out hyperinflation
ZIMBABWE'S economy will not revert back to the hyperinflation environment despite the recent unjustified price increases on basic commodities and services in the market, the Reserve Bank of Zimbabwe h...Published: 12 Nov 2017 at 06:59hrs | | by Staff Reporter
RBZ has no plans to raid fuel dealers
The Reserve Bank of Zimbabwe Deputy Governor, Dr Kupukile Mlambo, said the central bank intends to engage fuel dealers refusing coupons but has no plans to raid them as earlier reported.Dr Mla...Published: 29 Sep 2017 at 07:06hrs | | by Editor
RBZ to raid service stations
The Reserve Bank of Zimbabwe will soon swoop on fuel dealers who reject coupons.The apex bank has accused the dealers of sabotaging the economy as well as causing artificial commodity shortage...Published: 28 Sep 2017 at 06:52hrs | | by Staff reporter
Bond notes still legal tender, says RBZ
THE Reserve Bank of Zimbabwe (RBZ) has dismissed as a hoax messages circulating on social media calling on Zimbabweans to deposit all bond notes claiming the Central Bank wants to replace them with a ...Published: 28 Sep 2017 at 06:45hrs | | by Staff reporter
Forex dealers rule the roost amid cash crisis
ILLEGAL foreign currency traders - popularly known as osiphatheleni - are flourishing in Bulawayo, as desperate Zimbabweans flock to them in attempts to access cash.While police descend on the...Published: 09 Aug 2017 at 12:48hrs | | by Staff reporter
Zimra, RBZ act on bond notes leakages
The Reserve Bank of Zimbabwe (RBZ) is engaging the Zimbabwe Revenue Authority (Zimra) to institute stringent controls at the border posts to plug the leakage of bond notes into neighbouring countries....Published: 01 Jul 2017 at 12:50hrs | | by Staff reporter
Bond notes running out
Long-suffering Zimbabweans are now being forced to accept huge sackfuls of coins from their banks and mobile money agents as bond notes vanish from the local market on the back of currency dealers who...Published: 20 Jun 2017 at 13:00hrs | | by Staff reporter
'Standard Chartered Bank won't exit Zimbabwe'
The country's oldest banking institution, Standard Chartered Bank Zimbabwe has said it is here to stay and will not exit the market anytime soon.StanChart CEO Ralph Watungwa told guests at the...Published: 18 Jun 2017 at 10:21hrs | 1 | by Staff reporter
ZB and Vingirai split imminent
THE split between ZB Financial Holdings (ZBFH) and Intermarket Holdings Limited (IHL) - which have been operating as a single entity for the past 11 years - seemed imminent last week after details eme...Published: 18 Jun 2017 at 10:03hrs | | by Staff reporter
$160 million bond notes in circulation
THE Reserve Bank of Zimbabwe (RBZ) has released a total US$160 million worth of bond notes into circulation since last November as part of measures to ease shortages of money in the country.Th...Published: 18 Jun 2017 at 09:52hrs | | by Staff reporter
Zimbabwe bond notes now being sold in Mozambique, Zambia and South Africa
The Reserve Bank of Zimbabwe (RBZ) claims it is aware that bond notes are now being sold in Mozambique, Zambia and South Africa and this has contributed to the unyielding cash crisis in the country, a...Published: 01 Jun 2017 at 06:47hrs | | by Staff reporter
Externalization blamed for cash shortages
THE Reserve Bank of Zimbabwe (RBZ) Deputy Governor, Dr Kupukile Mlambo has said even if $200 million was injected into the economy that would not solve cash shortages due to externalization."Z...Published: 19 May 2017 at 04:16hrs | | by Staff Reporter
RBZ cracks whip on foreign firms
THE Reserve Bank of Zimbabwe has ordered all companies operating in the country to open local bank accounts as it steps up efforts to fight illicit financial flows which continue to bleed the economy....Published: 07 May 2017 at 08:13hrs | | by Staff reporter
Agencies not remitting revenue to Treasury: RBZ
The Reserve Bank of Zimbabwe (RBZ) has said a number of agencies are collecting revenue, but not remitting it to Treasury, a development that has left the financially-troubled government hamstrung. ...Published: 03 May 2017 at 07:00hrs | | by Staff reporter
Foreign currency shortages not new in Zimbabwe, says RBZ
A top Reserve Bank of Zimbabwe official has said the country has always had a shortage of foreign currency since the 1960s, but the latest crisis has been worsened by the domestication of the same cur...Published: 26 Apr 2017 at 16:37hrs | | by Staff Reporter
Zimbabwe experiencing an economic mess-RBZ deputy governor says
Zimbabwe's central bank deputy governor Kupukile Mlambo has said the country is in a deep economic mess and flatly denied advocating for the adoption of the South African rand as the main curren...Published: 26 Apr 2017 at 12:14hrs | | by Thobekile Zhou
Mukuru suspends rand disbursements
Remittance cash transferring company Mukuru has temporarily stopped South African rand disbursements in Zimbabwe on the back of rand shortages in the country. They said they would continue con...Published: 25 Apr 2017 at 06:58hrs | | by Staff reporter
Shortage of dollars a sign of lack of confidence, says RBZ
Reserve Bank of Zimbabwe deputy governor Kupukile Mlambo says shortages of the United States dollar locally are caused by lack of confidence in the country's economy.Zimbabwe has been ...Published: 23 Apr 2017 at 13:57hrs | | by Staff reporter
Zimdollar return imminent?
If visibility and predictability are two foundations upon which stable financial markets are built, comments from the Reserve Bank of Zimbabwe (RBZ) last week on the adoption of bond notes as ...Published: 17 Apr 2017 at 11:20hrs | | by Staff reporter
100 days of bond notes
THE Confederation of Zimbabwe Retailers held a breakfast meeting on the March 23, 2017 to review how bond notes have fared in the prior 100 days.I was part of the panelists who included RBZ De...Published: 02 Apr 2017 at 08:19hrs | | by Persistence Gwanyanya
'It's too late for Zimbabwe to adopt rand,' says Biti
Ex-Finance minister Tendai Biti has said it is too late for Zimbabwe to adopt the South African rand as a dominating currency.Writing on his Twitter account, the opposition People's Democratic...Published: 29 Mar 2017 at 07:18hrs | | by Staff reporter
Jail term for devaluing bond notes
Retailers and dealers fuelling the three-tier pricing that has emerged as market forces are overpowering the forced parity of bond notes face imprisonment of up to seven years.This comes a...Published: 28 Mar 2017 at 13:37hrs | | by Staff reporter
Zimbabwe banks not importing high-denomination $ bills
Zimbabwe is trying to stop banks importing high-denomination US dollar bills - and that means you shouldn't see $100 notes in banks or supermarkets, state media is reporting.With some bank...Published: 27 Mar 2017 at 16:45hrs | | by Staff reporter
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