Search / Liquidity
Mthuli Ncube makes bold measures to anchor ZiG stability
The Government has introduced measures to enhance the stability of the Zimbabwe Gold (ZiG) currency, promote its use, and provide tax relief to boost consumer spending and production. In the Mid-Term ...Published: 19 hrs ago | 289 | by Staff reporter
Zimbabwe diaspora remittances up 17%
In the first quarter of the year, diaspora remittances to Zimbabwe surged by 17%, reaching US$490 million compared to US$420 million during the same period in 2023. This increase in remittances is see...Published: 18 Jul 2024 at 06:41hrs | 159 | by Staff reporter
Zimbabwe should ditch the toxic US dollar
Zimbabwe's economy has been intertwined with the US dollar for over a decade, a relationship that began as a pragmatic response to hyperinflation and economic collapse in the late 2000s. The adoption ...Published: 12 Jul 2024 at 09:46hrs | 45 | by Staff writer
Cost-cutting money transfer facility launched
In the wake of liquidity crunch, economic meltdown and massive transaction taxation on remittances, TX Money Transfer has been launched this Wednesday to ease doing of business.The facility ha...Published: 11 Jul 2024 at 14:36hrs | 42 | by Edson Mapani in Buhera
Bleak outlook for Zimbabwe's consumers
Inter Horizon (IH) Securities, a prominent financial services firm, has released a sobering report on Zimbabwe's consumer spending patterns for 2024. The analysis paints a bleak picture, attributing t...Published: 07 Jul 2024 at 10:58hrs | 1 | by Staff reporter
Reserves backing Zimbabwe's ZiG shoot to US$370 million
Prices of goods and services in Zimbabwe are expected to remain stable, thanks to increased cash and mineral reserves backing the new currency, Zimbabwe Gold (ZiG). These reserves have risen from US$2...Published: 07 Jul 2024 at 10:34hrs | 26 | by Staff reporter
EcoCash to invest in banking technologies
EcoCash Holdings Zimbabwe Limited (EcoCash) plans to invest in technologies to expand its banking unit, Steward Bank, after transferring its fintech firms to Econet Wireless Zimbabwe. This move was ap...Published: 02 Jul 2024 at 11:16hrs | 4 | by Staff reporter
Boost for ZSE as govt suspends tax on stocks
Government has implemented significant tax reductions and suspensions aimed at revitalizing trading activity on the Zimbabwe Stock Exchange (ZSE). The 40% capital gains tax (CGT) on stocks sol...Published: 02 Jul 2024 at 06:36hrs | | by Staff reporter
Mnangagwa confirms structure to 'drip feed' ZWG into economy
Deputy Minister of Finance, Economic Development, and Investment Promotion, David Mnangagwa, acknowledged that the introduction of the Zimbabwe Gold (ZWG) currency in April has been characterized by a...Published: 01 Jul 2024 at 13:34hrs | 5 | by Staff reporter
Zimbabwe banks downplay ZWG shortages
Zimbabwe's banking sector has sought to downplay reports of severe liquidity shortages following the introduction of the new Zimbabwe Gold (ZWG) currency by the Reserve Bank of Zimbabwe (RBZ) on April...Published: 30 Jun 2024 at 18:32hrs | | by Staff reporter
IMF says Zimbabwe's economy continues to show resilience
In light of new policy developments, an International Monetary Fund (IMF) staff team led by Mr. Wojciech Maliszewski conducted a second mission to Harare during June 18-27, 2024, to conclude the 2024 ...Published: 28 Jun 2024 at 13:01hrs | 2 | by Staff reporter
ZiG performance pleases RBZ, private sector leaders
Private sector leaders and the Reserve Bank of Zimbabwe (RBZ) have praised the performance of Zimbabwe's structured currency, the Zimbabwe Gold (ZiG), citing its stability and positive impact on price...Published: 28 Jun 2024 at 07:39hrs | | by Staff reporter
Tackling Zimbabwe's property price surge
The Zimbabwean property market is facing significant challenges, marked by skyrocketing property prices that seem incongruous when compared to those in neighbouring South Africa.These challeng...Published: 24 Jun 2024 at 10:13hrs | 2 | by Dr Bekithemba Mpofu
The journey of real estate investment trusts in Zimbabwe
In the dynamic and ever-evolving landscape of Zimbabwe's financial markets, real estate investment trusts (REITs) stand as formidable instruments for both capital growth and market participation....Published: 19 May 2024 at 15:39hrs | 2 | by Dr Bekithemba Mpofu
Remittances and FDI: Harmonizing Zimbabwe's economic strategies for sustainable growth
Zimbabwe's economy stands at a critical juncture, grappling with deep-seated challenges such as systemic unemployment, volatile currency fluctuations, and an uncertain business climate. Within this pr...Published: 18 May 2024 at 15:27hrs | 2 | by Dr Bekithemba Mpofu
ZiG fails to break Zimbabwe's cash crunch
Informal traders at Harare's Mbare market, a bustling center of commerce generating millions of US dollars weekly, have revealed their ongoing struggle with a cash shortage, hitting women vendors the ...Published: 18 May 2024 at 12:18hrs | | by Staff reporter
'Zimbabweans will stampede for ZiG by June'
Reserve Bank of Zimbabwe (RBZ) Governor, Dr. John Mushayavanhu has highlighted the impending surge in demand for the Zimbabwean dollar (ZiG) anticipated to occur by June. This surge is expecte...Published: 18 May 2024 at 11:47hrs | 2 | by Staff reporter
ZiG needs to be backed by RBZ discipline
According to the Reserve Bank of Zimbabwe (RBZ), a structured currency is a currency that is pegged to a specific exchange rate or currency basket and backed by a bundle of foreign exchange assets lik...Published: 16 Apr 2024 at 18:04hrs | | by Zimbabwe Coalition on Debt and Development
High food assistance needs imminent, says USAid
Governments, stakeholders and humanitarian partners should brace for sustained high food assistance needs and potential emergency levels of food insecurity in Zimbabwe and other deficit-producing sout...Published: 16 Apr 2024 at 07:56hrs | | by Staff reporter
Zimbabwe central bank governor gets a rude awakening
BUSINESS executives yesterday gave Reserve Bank of Zimbabwe (RBZ) governor John Mushayavanhu a rude awakening after a snap survey which showed that they were not ready to support the new currency....Published: 12 Apr 2024 at 09:49hrs | | by Staff reporter
Zimbabweans told to approach banks for ZiG, USD
The Reserve Bank of Zimbabwe has enough reserves to satisfy the foreign currency requirements of all legitimate businesses and no company needs to go to the black market to pay for imports, RBZ Govern...Published: 12 Apr 2024 at 09:47hrs | | by Staff reporter
Annual independent external audit for RBZ reserves
Independent external auditors shall audit Reserve Bank of Zimbabwe (RBZ) precious minerals and foreign currency reserves backing the country's new currency, Zimbabwe Gold (ZiG), once a year as part of...Published: 11 Apr 2024 at 08:32hrs | 2 | by Staff reporter
ZiG Currency: Catalyzing Zimbabwe's Middle-Income Pursuit - Empowering Economic Well-being
Zimbabwe has taken a crucial step in revitalizing the economy and instilling trust in the financial sector by introducing the groundbreaking Zimbabwean Gold-backed Dollar (ZiG) as the official replace...Published: 10 Apr 2024 at 22:17hrs | | by Elvis Dzvene
Half ZiG and coins to start circulating on April 30
The Reserve Bank of Zimbabwe (RBZ) in the 2024 Monetary Policy Statement introduced a new "structured currency" termed ZiG (Zimbabwe Gold) on April 5. A "structured currency" is a currency tha...Published: 07 Apr 2024 at 21:08hrs | | by Staff reporter
Zimbabwe's new currency greeted with pessimism
The new currency introduced by the Reserve Bank of Zimbabwe (RBZ) on Friday has been branded old wine in new bottles by economists and financial experts who doubt that it will stand the test of time....Published: 07 Apr 2024 at 10:18hrs | | by Mthandazo Nyoni
RBZ scraps bank charges for low-cost accounts
IN a move meant to encourage a culture of banking, the Reserve Bank of Zimbabwe (RBZ) has announced the scrapping of bank charges for low-cost accounts.Presenting his first Monetary Policy Sta...Published: 07 Apr 2024 at 10:06hrs | | by Staff reporter
Strategic Analysis of Zimbabwe's Monetary Policy and Its Implications on the Real Estate Sector
Introduction The Reserve Bank of Zimbabwe unveiled a new monetary policy aimed at stabilizing the country's currency and economy. The policy focuses on ...Published: 07 Apr 2024 at 09:17hrs | | by Dr Bekithemba Mpofu
Anti-Zimbabwe economist says ZiG is old wine in new bottles
Prominent Zimbabwean economist and financial analyst Professor Gift Mugano says the new local currency launched today - unimaginatively named Zimbabwe Gold (ZiG) amid noisy claims by government offici...Published: 06 Apr 2024 at 13:20hrs | | by Staff reporter
'New ZiG currency is a short term gimmick,' says some economist
An economic expert has criticized the recently launched Zimbabwe Gold (ZiG) currency, asserting that it lacks substance to effectively revitalize the economy, warning that the nation has once again re...Published: 06 Apr 2024 at 08:13hrs | | by Staff reporter
RBZ adopts market-based exchange rate
THE Reserve Bank of Zimbabwe (RBZ) has adopted a market-determined system for setting exchange rates, with the auction system being replaced by a refined interbank foreign exchange market which connec...Published: 06 Apr 2024 at 08:06hrs | | by Staff reporter
Zimbabwe central bank summons Bank CEOs
The Reserve Bank of Zimbabwe (RBZ) has summoned chief executives of key financial institutions, specifically banks, for a meeting tomorrow morning ahead of the much-anticipated launch of a new currenc...Published: 04 Apr 2024 at 10:29hrs | | by Staff reporter
POSB privatisation put on halt
THE planned partial privatisation of the People's Own Savings Bank (POSB) has been put on halt as the bank awaits further guidance on the project from the shareholder.Partial privatisation was...Published: 04 Apr 2024 at 06:14hrs | | by Staff reporter
Zimbabwe's structured currency launch on Friday
IN a bid to address currency volatility and exchange rate-driven inflation badly battering the economy amid arbitrage, the Zimbabwean government will next week launch a "structured currency" which the...Published: 31 Mar 2024 at 20:50hrs | | by Staff reporter
Zimbabwe capital markets conferences set for SA
FINANCIAL Markets Indaba (FMI), in partnership with the Victoria Falls Stock Exchange (VFEX) is set to co-host two Zimbabwe capital markets conferences in South Africa next month, NewsDay Business can...Published: 22 Mar 2024 at 09:38hrs | | by Staff reporter
Gold set to anchor Zimbabwe dollar
GOLD has emerged as the most ideal instrument likely to be used to anchor the structured currency the Government is pursuing to stabilise the exchange rate and curtail persistent inflation.The...Published: 10 Mar 2024 at 06:23hrs | | by Staff reporter
10 new IPPs to generate 271MW for Zimbabwe
ZIMBABWE has licenced 10 more independent power producers (IPPs) to start generating 271MW of electricity in the next 12 to 24 months under the Government project support agreement which now holds clo...Published: 04 Mar 2024 at 04:42hrs | | by Staff reporter
Zimbabwe govt's proposed new currency reforms doomed
THE recently proposed currency changes, intended to underpin the Zimbabwe dollar with assets, will come to nought, given that country lacks sufficient reserves to support the local unit, an independen...Published: 25 Feb 2024 at 09:27hrs | | by Staff reporter
IMF wants Zimbabwe central bank to dump monetary policies
THE International Monetary Fund (IMF) has advised government to cut the Reserve Bank of Zimbabwe's (RBZ) role in crafting monetary policies to just its core functions, after the local currency depreci...Published: 15 Feb 2024 at 10:07hrs | | by Staff reporter
Zimbabwe to use gold to back its currency
Zimbabwe is working on new measures to stabilise its local currency including linking the exchange rate to hard assets such as gold and creating a currency board, Finance Minister Mthuli Ncube said on...Published: 12 Feb 2024 at 11:31hrs | | 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...Published: 31 Jan 2024 at 06:59hrs | | by Staff reporter
Foreign investors ditch Zimbabwe capital markets
FOREIGN investors continue to lower their interest on the local capital markets, with investor participation on annual value traded averaging 3%, due to policy inconsistency and inflation, leading res...Published: 30 Jan 2024 at 07:47hrs | | by Staff reporter
Teacher exodus threatens the future of Zimbabwe's education system
KUDZAI Chideme, 42, stepped into the teaching profession after completing her diploma in marketing and failing to secure a job in the private sector. It was 2008. At the time, finding work in public e...Published: 25 Jan 2024 at 04:17hrs | | by Staff reporter
Fresh measures to prop up Zimdollar
The GOVERNMENT is set to unveil new interventions, which may include reforming the foreign currency auction system and boosting foreign currency supply in the market, to deal with the recent volatilit...Published: 21 Jan 2024 at 07:27hrs | | by Staff reporter
Zimdollar further tumbles against US dollar
The cost of goods and services keeps on increasing in Zimbabwe as the local currency depreciates against the U.S. dollar, a trend that accelerated at the beginning of 2024.The local dollar, which ...Published: 18 Jan 2024 at 17:52hrs | | by Staff reporter
Shaky ground hinders Redwing Mine rescue efforts
UNSTABLE ground at Redwing Mine in Penhalonga, Manicaland province, has reportedly stalled efforts to rescue nearly a dozen artisanal miners trapped underground on Thursday.In a statement, Met...Published: 05 Jan 2024 at 16:29hrs | | by Staff reporter
Zimdollar decline fueled by surge in money supply
THE Zimbabwe dollar has taken a battering in the past month with economists attributing the depreciation of the local currency to increased money supply after private and public sector employees were ...Published: 24 Dec 2023 at 16:10hrs | | by Staff reporter
Zimbabwe: African Development Bank approves $25 million trade finance line of credit for Central Africa Building Society
The Board of Directors of the African Development Bank Group (www.AfDB.org/en) has approved a $25 million trade finance line of credit facility to the Central Africa Building Society of Zimbabwe, to b...Published: 20 Dec 2023 at 22:34hrs | 1 | by APO
2023 another wasted year for Matebeleland
Former principal director in the office of the prime minister Samukele Hadebe, says 2023 has been another year of deferred hopes for Matebeleland, a region that has suffered years of marginalisation....Published: 17 Dec 2023 at 18:16hrs | | by Staff reporter
Mnangagwa ruined Zanu-PF business empire
THE predictable appointment of FBC Holdings chief executive John Mushayavanhu as the incoming Reserve Bank of Zimbabwe (RBZ) governor has completed President Emmerson Mnangagwa's critical post-electio...Published: 12 Dec 2023 at 18:00hrs | | by Staff reporter
Zimdollar worse off since 2022
THE local currency, the Zimbabwean dollar, has continued to depreciate against the United States dollar on an unrestrained trajectory, despite various measures implemented by the Reserve Bank of Zimba...Published: 03 Dec 2023 at 19:20hrs | 1 | by Tinashe Duma
Load More Stories