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Zimbabwe's tight monetary policy stance boosts ZiG
Zimbabwe's gold-backed currency posted its first gain in more than two weeks, suggesting that tighter monetary policy is working the central bank said.The ZiG, short for Zimbabwe Gold, strengt...Published: 05 Nov 2024 at 08:26hrs | 2509 | by Staff reporter
Zimbabwe working on land tenure reforms
In a major development aimed at empowering farmers, the Government has announced plans to issue bankable and transferable land tenure documents to all beneficiaries of the Land Reform Programme. The i...Published: 08 Oct 2024 at 19:14hrs | 335 | by Staff reporter
Zimbabwe retailers make a case for multi-currency continuation
Retailers in Zimbabwe have urged the Reserve Bank of Zimbabwe (RBZ) to extend the multi-currency regime as official policy until 2030, warning that any abrupt move towards full dollarisation could sev...Published: 07 Oct 2024 at 07:52hrs | 1041 | by Staff reporter
BAZ, central bank meet over policy interventions
The Bankers Association of Zimbabwe (BAZ) held a crucial meeting with the Reserve Bank of Zimbabwe (RBZ) governor, Dr. John Mushayavanhu, on Monday to address key policy changes from the Monetary Poli...Published: 03 Oct 2024 at 08:44hrs | 54 | by Staff reporter
RBZ raises bank policy rate to 35%
The Reserve Bank of Zimbabwe (RBZ) has announced significant measures to tackle resurgent exchange rate volatility and mitigate inflationary pressures. Effective immediately, the bank policy rate has ...Published: 27 Sep 2024 at 15:29hrs | 1310 | by Staff reporter
Fuel price decrease brings welcome relief to SA consumers
Consumers in South Africa will be able to stretch their rands a little further this month after the fuel price decreases were announced this past week.The Department of Mineral Resources and E...Published: 08 Sep 2024 at 09:39hrs | 105 | by Staff reporter
South Africa GDP growth is an 'illusion' benefiting the few
The Economic Freedom Fighters (EFF) have dismissed the recent GDP growth figures released by Statistics South Africa (Stats SA) as "misleading", accusing the government and financial institutions of c...Published: 05 Sep 2024 at 09:17hrs | 184 | by Staff reporter
Zimbabwe's central bank projects 5% annual inflation
The Reserve Bank of Zimbabwe (RBZ) anticipates annual inflation to decline sharply to just 5% by the end of the year, supported by stability in the Zimbabwe Gold (ZiG) currency and exchange rates. ...Published: 28 Jun 2024 at 07:45hrs | 2 | by Staff reporter
Trouble in SA's political space, the moon seems to be going down
There's trouble in space - the moon seems to be going down at the Multiparty Charter (MPC), as the Democratic Alliance (DA) seeks to breach the Moonshot Pact charter agreement of not going in a coalit...Published: 27 May 2024 at 14:20hrs | 1 | by Staff reporter
Mnangagwa commits to free market economy
President Mnangagwa has pledged his Government's commitment to a complete free market economy, arguing there is no justification to put the burden of price determination on the Government.In r...Published: 11 Apr 2024 at 08:36hrs | | 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 | 14 | by Staff reporter
Popular football matches for all-time
Football, known as soccer in some regions, has a rich history filled with unforgettable matches that have captivated audiences worldwide. These matches have left an indelible mark on the sport and its...Published: 27 Feb 2024 at 15:29hrs | 20 | by Staff Reporter
Zimdollar flounders
Zimbabwe's central bank will hold its first rate-setting meeting of the year next Monday as it seeks to deal with a currency rout.The monetary policy committee will meet "to discuss interventi...Published: 25 Jan 2024 at 06:37hrs | 1 | by Staff reporter
RBZ increases US$ reserves thresholds to 15% to encourage Zimdollar usage
The Reserve Bank of Zimbabwe's Monetary Policy Committee (MPC) has increased the US$ Statutory reserve requirement to 15%, a move that experts suggest aims to encourage the use of the ZWL (Zimbabwean ...Published: 29 Sep 2023 at 06:34hrs | 1 | by Staff reporter
ZEC deploys polling officers, distributes election material
THE Zimbabwe Electoral Commission (ZEC) yesterday started deploying polling officers to different polling stations across the country ahead of Wednesday's harmonised elections after they completed the...Published: 20 Aug 2023 at 09:27hrs | 6 | by Staff reporter
Regional journalists and artists in True Zimbabwe Journalists (Media) Tour
The Zimbabwean government is basking in the glory of a public relations and marketing tour by regional journalists and artists being used as a publicity ploy by the Harare regime ahead of general elec...Published: 10 Aug 2023 at 19:26hrs | 8 | by Staff reporter
Zida approved 4 PPPs in Q2
THE Zimbabwe Investment and Development Agency (Zida) approved four public-private partnerships (PPPs) in the second quarter of this year, with a combined value of more than US$186 million.The...Published: 17 Jul 2023 at 06:58hrs | 8 | by Staff reporter
Zimbabwe official bank rate latest
THE Zimbabwe Dollar slightly weakened against the United States dollar at the weekly forex auction system where it traded at Z$ 6 9296 to the greenback from US$1:ZW$5 978 last week.In an updat...Published: 20 Jun 2023 at 18:31hrs | | by Staff reporter
RBZ finalises platform for digital token payments
THE Reserve Bank of Zimbabwe (RBZ) is finalising the establishment of a platform that facilitates person-to-person transactions using digital gold tokens, a development expected to largely reduce dema...Published: 18 Jun 2023 at 08:30hrs | | by Staff reporter
Zimdollar rescue mission too late
THE surprise move by Zimbabwe's fiscal and monetary authorities to liberalise the foreign exchange policy after months of shillyshallying amid a fixed rate could be a case of closing the stable door a...Published: 12 Jun 2023 at 06:45hrs | 2 | by Staff reporter
Banks scale back Zimbabwe dollar lending
BANKS have significantly reduced lending in the local currency ever since monetary authorities hiked interest rates last year to prevent rent-seeking behaviour by individuals and corporates, Reserve B...Published: 04 Jun 2023 at 08:29hrs | | by Staff reporter
Zimbabwe's digital tokens out next month
THE Reserve Bank of Zimbabwe (RBZ) yesterday said it would start issuing gold-backed digital tokens on May 8 as one of its several measures to save the free-falling local currency.In July last...Published: 29 Apr 2023 at 07:52hrs | 1 | by Staff reporter
US Dollars replaces Zimbabwe's currency for second time
The greenback has replaced the Zimbabwean dollar as the most-used currency in the southern African nation for a second time, almost four years after the re-introduction of the local unit.US do...Published: 07 Apr 2023 at 10:20hrs | 1 | by Staff reporter
Reserve Bank of Zimbabwe slashes policy rate
THE Reserve Bank of Zimbabwe (RBZ) yesterday slashed its policy rate further to 140%. The policy rate had been pegged at 150% at the beginning of the year, from 200% before.Analysts said the m...Published: 31 Mar 2023 at 17:55hrs | | by Staff reporter
Churches challenge registration directive
GOVERNMENT'S decision to register church prophets and bishops has hit a brickwall after some lawyers challenged the directive describing it as unconstitutional.Government last week ordered tra...Published: 09 Mar 2023 at 05:22hrs | | by Staff reporter
Sangomas told to register
The Traditional Medical Practitioners Council of Zimbabwe (TMPCZ) has moved in to enforce regulations that will ensure all traditional medical practitioners are registered in a move to uphold Governme...Published: 01 Mar 2023 at 06:56hrs | 5 | by Staff reporter
Zimdollar official rate converges with black market premium on RBZ Auction
THE Zimdollar official exchange rate has converged with the parallel market premiums while at the same time falling within internationally acceptable margins the Reserve Bank of Zimbabwe (RBZ) Foreign...Published: 15 Feb 2023 at 05:04hrs | | by Staff reporter
Reserve Bank of Zimbabwe bullish on inflation
THE Reserve Bank of Zimbabwe (RBZ) yesterday remained bullish that month-on-month inflation will remain stable below 3% throughout next year, despite indications last week that the country will use de...Published: 06 Dec 2022 at 05:03hrs | | by Staff reporter
Reserve Bank of Zimbabwe keeps bank rate at 200%
THE Reserve Bank of Zimbabwe (RBZ) has kept its bank policy rate at 200 percent after its Monetary Policy Committee (MPC) expressed satisfaction with how the current tight monetary policy stance has h...Published: 06 Dec 2022 at 04:58hrs | 1 | by Staff reporter
RBZ allows companies to buy up to US$100 000 weekly
THE Reserve Bank of Zimbabwe has moved to allow companies to purchase up to US$100 000 per week from local banks for purposes of undertaking bona fide payments and moved to maintain the current intere...Published: 01 Oct 2022 at 06:15hrs | | by Staff reporter
Zimdollar, US dollar exchange rate cleavage narrows
THE narrowing of the gap between parallel market and official exchange rates from an elevated level of 140 percent in May to current levels of between five percent and 15 percent is a significant move...Published: 29 Sep 2022 at 05:56hrs | | by Staff reporter
$9bn gold coins sold as individuals join rush
THE Reserve Bank of Zimbabwe (RBZ) says gold coins worth $9 billion have been sold since July this year, with individuals taking a significant chunk of the bullion, while the Monetary Policy Committee...Published: 28 Sep 2022 at 05:55hrs | | by Staff reporter
85% of gold coins sold in Zimdollars
THE Reserve Bank of Zimbabwe (RBZ) has revealed that 1 500 gold coins were sold by its agents during the first week of their release onto the market, signalling a strong demand for the yellow metal cu...Published: 02 Aug 2022 at 06:53hrs | 6 | by Staff reporter
Zimbabwe inflation on downward spiral?
The introduction of gold coins and a review of payment methods for suppliers of goods and services, particularly those undertaking major national infrastructure projects, is expected to see a decline ...Published: 02 Aug 2022 at 06:42hrs | | by Staff reporter
Gold coins: RBZ chief sheds more light
Gold coins set to be released by the Reserve Bank of Zimbabwe (RBZ) tomorrow are expected to mop up excess cash on the market over the next six months, reduce demand for the US dollar as a store of va...Published: 24 Jul 2022 at 09:59hrs | | by Staff reporter
South Africa's #NationalShutDown continues today
South Africa's national shut down will continue today and has spread to other parts of the country.Yesterday, truck and taxi drivers blocked various roads in Mbombela and the surrounding areas...Published: 07 Jul 2022 at 08:20hrs | 7 | by Staff reporter
Gold coins to be sold in Zimdollars
THE Reserve Bank of Zimbabwe (RBZ) says its planned gold coins, to be introduced as an alternative investment option and inflation hedge on July 25, will be traded in both Zimbabwe dollars and foreign...Published: 05 Jul 2022 at 07:03hrs | | by Staff reporter
RBZ gold coins to strengthen Zimdollar
The Reserve Bank of Zimbabwe (RBZ) last week, following a resolution agreed on by its Monetary Policy Committee (MPC), announced plans to introduce gold coins to be used as a new investment tool to st...Published: 04 Jul 2022 at 06:54hrs | | by Staff reporter
Mangudya defends new currency measures
RESERVE Bank of Zimbabwe (RBZ) governor John Mangudya says recent official exchange rate adjustments will help in mopping excess liquidity in the market and stabilise the currency and inflation....Published: 03 Jul 2022 at 09:30hrs | 4 | by Staff reporter
Zimbabwe central bank hikes interest rates to 200%
THE Reserve Bank of Zimbabwe (RBZ) on Monday hiked interest rates from 80% to 200% in a bid to block cheaper speculative borrowing which has adverse effects on exchange rates.The developments ...Published: 27 Jun 2022 at 19:08hrs | 7 | by Staff reporter
RBZ to introduce gold coins, hikes interest rates
RESERVE Bank of Zimbabwe (RBZ) says it will be introducing gold coins as part of measures to ensure investors and the general public have alternative means to preserve value, cushioning them from the ...Published: 27 Jun 2022 at 19:05hrs | 9 | by Staff reporter
'The Reserve Bank of Zimbabwe is not creating money'
The Sunday Mail Editor Victoria Ruzvidzo (VR) had a no-holds-barred interview with RBZ Governor Dr John Mangudya (JM) on the latest developments in the economy, among them suspension of bank lending, ...Published: 05 Jun 2022 at 09:00hrs | 1 | by Staff reporter
'Zimbabwe Reserve Bank is not creating money'
The Sunday Mail Editor Victoria Ruzvidzo (VR) had a no-holds-barred interview with RBZ Governor Dr John Mangudya (JM) on the latest developments in the economy, among them suspension of bank lending, ...Published: 22 May 2022 at 08:26hrs | 10 | by Staff reporter
'The Reserve Bank is not creating money'
The Sunday Mail Editor Victoria Ruzvidzo (VR) had a no-holds-barred interview with RBZ Governor Dr John Mangudya (JM) on the latest developments in the economy, among them suspension of bank lending, ...Published: 15 May 2022 at 06:12hrs | 7 | by Staff reporter
RBZ blames Russia
RESERVE Bank of Zimbabwe (RBZ) governor John Mangudya yesterday blamed Zimbabwe's deteriorating crisis on confrontations between Russia and Ukraine as he downplayed economic shocks that were already f...Published: 04 May 2022 at 07:03hrs | 1 | by Staff reporter
Zimbabwe inflations quickens to 96.4%
Below is the full statement by Reserve Bank of Zimbabwe (RBZ) Governor John Mangudya on the resolutions of the Monetary Policy Committee (MPC) meeting of 29 April 2022.RESOLUTIONS OF THE MONET...Published: 03 May 2022 at 16:25hrs | | by Staff reporter
'Zimdollar volatility makes no sense'
The Reserve Bank of Zimbabwe (RBZ) believes disproportionate demand for the US dollar and lingering fears of hyperinflation are driving exchange rate volatility, as the country's currency should ordin...Published: 01 May 2022 at 11:05hrs | | by Staff reporter
Towards a market driven foreign exchange market
The Monetary Policy Committee (MPC) of the central bank made a press statement on the 1st of April to address the depreciation of the local currency and manage the rate of inflation in the economy. Th...Published: 12 Apr 2022 at 16:46hrs | 5 | by Victor Bhoroma
Zimbabwe banks start willing buyer- wiling seller forex trade
LOCAL banks have started showing indicative rates for the willing-buyer willing-seller foreign currency trading system announced by the Reserve Bank of Zimbabwe early last week.Following a mee...Published: 10 Apr 2022 at 08:15hrs | 8 | by Staff reporter
RBZ acts on inflation, interest rates
THE Reserve Bank of Zimbabwe (RBZ) yesterday moved to curtail resurgent price increases (inflation) in the economy and stabilise the volatile parallel market exchange rate after its Monetary Policy Co...Published: 05 Apr 2022 at 06:43hrs | | by Staff reporter
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