Search / Mangudya
RBZ recues HCC on water crisis
THE Reserve Bank of Zimbabwe (RBZ) has agreed to rescue the Harare City Council (HCC) by providing it with foreign currency to buy water treatment chemicals to improve potable water supply in the capi...Published: 06 Dec 2022 at 05:06hrs | 230 | 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 | 140 | by Staff reporter
RBZ in gems mop up deal
THE government has structured a deal that will see the Reserve Bank of Zimbabwe (RBZ) buying excess diamonds as it moves to shut out unscrupulous dealers that have been dribbling authorities....Published: 02 Dec 2022 at 19:30hrs | 241 | by Staff rteporter
Zimdollar has made citizens poorer
WE can't progress if we don't accept reality and correct our shortcomings. It's a fact that the Zimdollar has brought more problems to our sick economy.The Zimdollar prescription is adding mor...Published: 21 Nov 2022 at 04:57hrs | 410 | by Patriot
'Small gold coins will further anchor stability'
The introduction of small gold coins last week is expected to further stabilise the exchange rate, Reserve Bank of Zimbabwe (RBZ) governor Dr John Mangudya has said.Large-denomination bullion ...Published: 20 Nov 2022 at 15:34hrs | 85 | by Staff reporter
'Harare roads unsafe'
HARARE Metropolitan provincial secretary Tafadzwa Muguti has said the capital city's roads are no longer safe to drive on.Speaking during a tour of Satewave Technologies premises in Chisipite ...Published: 15 Nov 2022 at 04:53hrs | 1137 | by Staff reporter
Zimbabwe opposition disunity promotes Mnangagwa's rule
RENOWNED economist, Dr Godfrey Kanyenze has blamed disunity among the country's opposition political parties for propping up President Emmerson Mnangagwa's ascendancy and leaving foreign allies with n...Published: 14 Nov 2022 at 05:25hrs | 1645 | by Staff reporter
RBZ allocates US$3 billion to businesses
THE Reserve Bank of Zimbabwe says US$3 billion has been allotted to businesses through the RBZ forex auction since its inception in 2020.In a statement yesterday, RBZ Governor, John Mangudya s...Published: 11 Nov 2022 at 05:15hrs | 244 | by Staff reporter
Zimbabwe starts disbursement of 4 500 small gold coins
THE Reserve Bank of Zimbabwe (RBZ) will tomorrow start disbursing 4 500 smaller units of Zimbabwe's Mosi-oa-Tunya gold coins to banks ahead of planned release of the bullion coins in the market on Tue...Published: 10 Nov 2022 at 04:54hrs | 411 | by Staff reporter
RBZ in dramatic U-turn on Fidelity privatisation
IN a dramatic policy U-turn, the Reserve Bank of Zimbabwe (RBZ) has indefinitely suspended its plans to partially privatise Fidelity Printers and Refiners (FPR) nearly two years after announcing inten...Published: 04 Nov 2022 at 05:32hrs | 887 | by Staff reporter
Zimbabwe inflation drops to 269%
ZIMBABWE'S annual inflation rate dropped to 268,8% this month, as a series of novel measures including putting a stop to payments to most government contractors take effect.According to latest...Published: 26 Oct 2022 at 05:56hrs | 603 | by Staff reporter
RBZ projects 50% annual inflation rate by year end
A total of 10 400 gold coins have been sold to date, with companies dominating the buyers list in a development which has gone a long way in mopping up excess liquidity, Reserve Bank of Zimbabwe (RBZ)...Published: 22 Oct 2022 at 05:43hrs | 524 | by Staff reporter
RBZ tells Time Bank to reopen 'but don't take deposits'
TIME Bank, one of a dozen domestic financial institutions that collapsed at the height of Zimbabwe's banking crisis between 2004 and 2008, was yesterday given the nod to re-enter the market under rest...Published: 19 Oct 2022 at 06:01hrs | 561 | by Staff reporter
Don't 'tag' journalists based on their media house
THE Zimbabwe Union of Journalists (ZUJ) has questioned ‘tagging' of journalists by naming their media houses in Zimbabwe Media Commission (ZMC) accreditation cards saying this exposes them to harass...Published: 19 Oct 2022 at 05:59hrs | 122 | 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 | 1055 | by Staff reporter
Big energy users to import 500MW
Zesa is set to import more power to meet demand from the country's biggest energy consumers — the Intensive Energy Users Group (IEUG) — who require more than 500 megawatts (MW) to run their operat...Published: 09 Oct 2022 at 07:50hrs | 110 | by Staff reporter
Zimbabwe's foreign currency receipts hit US$7,7 billion mark
ZIMBABWE's foreign currency receipts have reached US$7, 7 billion, thereby marking a significant increase if compared to the same period last year.The development indicates the existence of re...Published: 02 Oct 2022 at 09:02hrs | 106 | by Staff reporter
ZB directors mull liquidation and surrendering licence
With three months left before year-end, it is now crunch time for ZB Financial Holdings (ZBFH), which is currently under increased pressure to recapitalise its building society within the grace period...Published: 02 Oct 2022 at 08:58hrs | 270 | 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 | 446 | 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 | 1528 | 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 | 300 | by Staff reporter
Mosi-oa-Tunya gold coins selling like hotcakes
THE Mosi-oa-Tunya gold coins have generated $9 billion from the sale of 9 516 coins with 35 percent having been sold to individuals and 65 percent to corporates, the Reserve Bank of Zimbabwe has said....Published: 27 Sep 2022 at 19:27hrs | 353 | by Staff reporter
IMF says gold coins missed chance to build Zimbabwe reserves
The gold coins that have been in circulation in Zimbabwe for almost three months are a missed chance to build the nation's gold reserves, according to the International Monetary Fund."The sale...Published: 23 Sep 2022 at 05:57hrs | 4419 | by Staff reporter
Zimdollar shortage hits the country
ZIMBABWE has been hit by Zimdollar shortages, a situation that has resulted in long-winding queues resurfacing at banks throughout the country.Of late, banks have been disbursing less than $5 ...Published: 22 Sep 2022 at 06:04hrs | 1247 | by Staff reporter
IMF rules out loans for Zimbabwe
An International Monetary Fund (IMF) staff team led by Dhaneshwar Ghura conducted a staff visit in Harare during September 12–19, 2022, to discuss recent economic developments and the economic outlo...Published: 20 Sep 2022 at 18:46hrs | 814 | by Staff reporter
Zimdollar to further strengthen?
The Zimbabwe dollar is likely to strengthen as extra strands in the policies to decrease the amount of local currency in bank accounts, while increasing the amount of foreign currency in official mark...Published: 20 Sep 2022 at 06:02hrs | 763 | by Staff reporter
Zimbabwe gold coins to be afforded by all
THE Government is planning to introduce smaller gold coins denominations amid revelations that at least Z$8 billion worth of the coins have been bought by locals since they were launched by the Reserv...Published: 18 Sep 2022 at 16:53hrs | 554 | by Staff reporter
Report exposes double standards in Zimbabwe's reform drive
THERE have been double standards in Zimbabwe's hyped reform programme, a report by the United States (US) has noted, raising concern over land expropriations and undertakings to protect property right...Published: 15 Sep 2022 at 05:53hrs | 329 | by Staff reporter
Time for Zimbabweans to reclaim lost glory
THE Communities in Action Platform (CAP) last month penned down reflections on the economy to alert the responsible authority, government, and bring awareness to the general citizenry on the deteriora...Published: 10 Sep 2022 at 06:22hrs | 120 | by Martin Stobart
Zimbabwe explores central bank digital currency
The Reserve Bank of Zimbabwe (RBZ) says it is moving ahead with plans to create Zimbabwe's own Central Bank Digital Currency (CBDC) on a phased approach.RBZ Governor Dr John Mangudya said the ...Published: 24 Aug 2022 at 06:37hrs | 518 | by Staff reporter
Zimbabwe govt officials should first declare assets
BEFORE Finance minister Mthuli Ncube asks us to declare where our foreign currency is coming from when we bring in foodstuffs and household goods from outside the country, the leadership of Zimbabwe s...Published: 23 Aug 2022 at 06:29hrs | 531 | by Concerned
Gold coins boost Zimdollar
Black market traders have been left reeling as measures taken by authorities, including new gold coins, to support the embattled local currency dry up excess liquidity and erode arbitrage opportunitie...Published: 18 Aug 2022 at 20:48hrs | 444 | by Staff reporter
Mzembi claims Mangudya, Chinamasa misled Mugabe
FORMER Foreign Affairs minister, Walter Mzembi has made sensational claims Reserve Bank of Zimbabwe (RBZ) governor, John Mangudya, and then Finance minister Patrick Chinamasa shot down his proposal fo...Published: 17 Aug 2022 at 06:44hrs | 2809 | by Staff reporter
'Gold coins safer than Zimdollar'
THE resilience of gold as a store of value pushed the Reserve Bank of Zimbabwe (RBZ) to introduce gold coins last month, a central bank official said yesterday.Azvinandava Saburi, director of ...Published: 17 Aug 2022 at 06:40hrs | 757 | by Staff reporter
Interest rate hike haunts black market kingpins
Interventions by the Reserve Bank of Zimbabwe (RBZ) to stem prolonged currency battering have sent black market rates tumbling by over 50 percentage points within a month, Inter Horizon Securities (IH...Published: 16 Aug 2022 at 06:40hrs | 1198 | by Staff reporter
Zimbabwe gold smuggling on the rise: Parly
Parliament's Mines Portfolio Committee yesterday raised concern over the proliferation of gold mines amid reports that gold smuggling to South Africa and the Middle East had increased.The comm...Published: 16 Aug 2022 at 06:38hrs | 545 | by Staff reporter
Zimbabwe's diaspora remittances hit US$800 million
ZIMBABWE'S diaspora remittances reached US$797 million in the first six months of the year, representing a 23 percent increase in the corresponding period last year.An estimated three million ...Published: 16 Aug 2022 at 06:35hrs | 213 | by Staff reporter
Mnangagwa says Zimbabwe banks have gone rogue
PRESIDENT Emmerson Mnangagwa says most of Zimbabwe's banks have gone "rogue" and are operating in contravention of the country's laws.Writing in his column in The Sunday Mail, he said only 31%...Published: 15 Aug 2022 at 06:43hrs | 10413 | by Staff reporter
Zimbabwe central bank declares victory
THE Reserve Bank of Zimbabwe (RBZ) says as of last Wednesday, 4 475 gold coins valued at $3,7 billion had been bought with 90% being local currency purchases, a move it says has cooled the galloping p...Published: 15 Aug 2022 at 06:40hrs | 911 | by Staff reporter
Zimdollar makes paper gains
The economy has largely stabilised, especially from late last month, as a result of aggressive measures by Government to rein in market indiscipline, and market watchers are confident the latest inter...Published: 14 Aug 2022 at 07:22hrs | 609 | by Staff reporter
Mnangagwa says Zimbabweans must stop parroting foreign narratives
ZIMBABWEANS should believe in themselves despite the continued imposition of sanctions on the country and be inspired by the national interest to work harder to develop their own country rather than "...Published: 14 Aug 2022 at 07:21hrs | 566 | by Staff reporter
RBZ strangles street money changers
They don't know what has suddenly hit them. It is no longer business as usual for most, if not all, illegal street money changers.They used to call the shots in the last few months, de...Published: 13 Aug 2022 at 07:23hrs | 1293 | by Staff reporter
Mnangagwa tells profiteers to play fair,
PRESIDENT Mnangagwa yesterday reiterated the need to adopt fair business practices and urged economic stakeholders to rally behind the country's transformation agenda and leave a legacy of positive im...Published: 13 Aug 2022 at 07:23hrs | 121 | by Staff reporter
Gold coins' sales hit ZW$3,7 billion, 90% sales in local currency
THE Reserve Bank of Zimbabwe (RBZ) has reported that gold coins' sales have to date reached ZW$3,7 billion with 90% sales being made in the local currency.Presenting the Mid-Term Monetary Poli...Published: 12 Aug 2022 at 20:30hrs | 450 | by Staff reporter
Zimbabwe central bank considers currency board
ZIMBABWE is considering establishing a currency board to support the Zimbabwean dollar, as inflation surges.The southern African country is fast moving back into a hyperinflationary crisis, ab...Published: 12 Aug 2022 at 20:19hrs | 516 | by Staff reporter
Zimbabwe to release smaller gold coins
Smaller Zimbabwean gold coins, as small as a tenth of an ounce, are expected to go on sale in November from the Reserve Bank of Zimbabwe so ordinary people can invest in them and store value for their...Published: 12 Aug 2022 at 06:35hrs | 790 | by Staff reporter
Mnangagwa's hectic schedule
PRESIDENT Mnangagwa will today lead key proceedings in a double hectic schedule in the resort city of Victoria Falls where he is set to officially open the End of Term Judges Symposium this morning an...Published: 12 Aug 2022 at 06:34hrs | 382 | by Staff reporter
Investors talk up Zimbabwe gold coins
Mosi-oa-Tunya gold coins, which were released into the market by the Reserve Bank of Zimbabwe (RBZ) on July 25, are an alternative investment option to US dollars, stocks and the property market, and ...Published: 07 Aug 2022 at 08:17hrs | 438 | 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 | 1628 | by Staff reporter
Zimbabwe to release another batch of gold coins
The Reserve Bank of Zimbabwe (RBZ) today said it will release an additional 2 000 gold coins this week, after the initial batch was highly subscribed.The Mosi-Oa-Tunya coins, which came into t...Published: 02 Aug 2022 at 06:44hrs | 388 | by Staff reporter
Load More Stories
