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'Mthuli Ncube, John Mangudya must resign'
OPPOSITION political parties have demanded that Finance minister Mthuli Ncube and Reserve Bank of Zimbabwe (RBZ) governor John Mangudya resign, accusing them of crafting anti-poor policies that are wo...Published: 29 Jun 2022 at 07:49hrs | 3066 | by Staff reporter
Mthuli Ncube redollarises
GOVERNMENT yesterday brought back the United States dollar as legal tender to stem rising inflation and restore confidence in the economy, but critics say the move will lead to more demands for salari...Published: 28 Jun 2022 at 07:26hrs | 7241 | 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 | 848 | 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 | 1877 | by Staff reporter
Bread prices set to drop?
BREAD prices are set to drop after the Reserve Bank of Zimbabwe (RBZ) pledged to prioritise foreign currency allotments to the National Bakers Association of Zimbabwe to facilitate the importation of ...Published: 21 Jun 2022 at 06:37hrs | 257 | by Staff reporter
Zimbabwe's central bank moves to control price of bread
Zimbabwe's central bank said Monday that the price of bread will go down after it held talks with an association of bakers.Governor John Mangudya said bakers had complained over lack of access...Published: 20 Jun 2022 at 18:56hrs | 1021 | by Staff reporter
RBZ tightens screws on bank loans
THE Reserve Bank of Zimbabwe (RBZ) has ordered banks to conduct site visits to clients who have taken out loans to ensure the money is used for its intended purposes, among other stringent measures....Published: 20 Jun 2022 at 06:42hrs | 1598 | by Staff reporter
Mangudya finds the $15 billion booty
On 18 June 2022, Zimbabwe woke up to the Reserve Bank Governor, Mangudya's admission that, "Fifteen major companies have been creating huge extra profits by borrowing billions of dollars, often from s...Published: 19 Jun 2022 at 21:07hrs | 10630 | by Sam Wezhira
The mother of all vampire states
On 18 June 2022, Zimbabwe woke up to the the Reserve Bank Governor, Mangudya's admission that, "Fifteen major companies have been creating huge extra profits by borrowing billions of dollars, of...Published: 19 Jun 2022 at 21:01hrs | 509 | by Sam Wezhira
Govt keeps focus on Zimdollar
Government will not let-up on implementing fiscal and monetary measures to contain resurgent inflation and tame Zimbabwe dollar volatility, Finance and Economic Development Minister Professor Mthuli N...Published: 19 Jun 2022 at 10:04hrs | 225 | by Staff reporter
Mnangagwa linked gold dealers mint money through govt incentives
GOVERNMENT'S Gold Incentives Scheme (GIS) has come under scrutiny amid indications it is largely benefitting politically connected persons, mainly President Emmerson Mnangagwa's close ally Pedzisayi "...Published: 18 Jun 2022 at 16:18hrs | 1740 | by Staff reporter
Zimbabwe doctors, nurses endorse strike
SALARY talks between government and its restive workers ended in a deadlock yesterday ahead of a full-blown strike action by health professionals and teachers beginning Monday.It has emerged t...Published: 18 Jun 2022 at 07:30hrs | 1020 | by Staff reporter
Billion-dollar loans used to manipulate exchange rate
Fifteen major companies have been creating huge extra profits by borrowing billions of dollars, often from several banks, at concessionary interest rates, stocking up and then selling in US dollars an...Published: 18 Jun 2022 at 07:22hrs | 342 | by Staff reporter
Pay half salaries in US$: NECs
THE National Employment Councils (Necs) has directed private sector employers to pay half of their salaries in foreign currency as appetite for the free-falling local currency wanes.Nec yester...Published: 17 Jun 2022 at 08:28hrs | 709 | by Staff reporter
Forex auction props up industry revival
The foreign exchange auctions have disbursed over US$3,2 billion to productive sectors since they opened in 2020, a development that resulted in the growth of local industry's capacity utilisation to ...Published: 17 Jun 2022 at 08:17hrs | 52 | by Staff reporter
Zacc probes 22 cases of unexplained wealth
THE Zimbabwe Anti-Corruption Commission (ZACC) is investigating 22 cases of unexplained wealth involving externalisation of more than US$22 million. In a statement, ZACC said it was closely wo...Published: 15 Jun 2022 at 07:30hrs | 426 | by Staff reporter
RBZ shifts blame to companies
THE Reserve Bank of Zimbabwe (RBZ) says a relentless depreciation of the domestic currency experienced in the past few months has been triggered by excessive currency manipulation by firms pursuing "s...Published: 12 Jun 2022 at 09:21hrs | 3288 | by Staff reporter
Mugabes in farm equipment scam
LATE president Robert Mugabe's family has been rocked by a fresh scandal after allegedly selling an assortment of farm equipment belonging to government departments and pocketing the money, it has eme...Published: 11 Jun 2022 at 09:32hrs | 982 | by Staff reporter
RBZ lifts MetBank suspension
THE Reserve Bank of Zimbabwe has with immediate effect lifted the suspension of Metbank Limited from foreign currency exchange trading.In April, the Apex Bank slapped the bank with suspension ...Published: 08 Jun 2022 at 18:31hrs | 481 | by Staff reporter
Govt to continue with partial dollarisation
RESERVE Bank of Zimbabwe Governor, Dr John Mangudya says the country cannot afford to fully dollarise as the move will be detrimental to the socio-economic growth of the country.The Russia Ukr...Published: 07 Jun 2022 at 17:55hrs | 3027 | 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 | 223 | by Staff reporter
'Full dollarisation of Zimbabwe economy will never happen'
ZIMBABWEANS must cherish the partial dollarisation that is in place, and stop dreaming about full dollarisation, Reserve Bank of Zimbabwe (RBZ) Governor, Dr John Mangudya, said yesterday.Speak...Published: 04 Jun 2022 at 19:52hrs | 244 | by Staff reporter
European Investment Bank warms up to Zimbabwe
The European Investment Bank (EIB) has availed about €40m to Zimbabwe banks within a year, which will go towards bailing out the country's SMEs and mid-cap companies, in a vote of confidence in the ...Published: 02 Jun 2022 at 09:04hrs | 3112 | by Staff reporter
Mnangagwa headlines miners conference
PRESIDENT Mnangagwa will be guest of honour at this year's annual conference of the Chamber of Mines of Zimbabwe to be held in Victoria Falls.The conference runs from tomorrow to Saturday unde...Published: 01 Jun 2022 at 06:32hrs | 112 | by Staff reporter
Zimbabwe's inflation back above 100%
Zimbabwe's annual inflation jumped to 131 percent in May – the highest it has been since June last year – as it responds to the massive devaluation of the local currency and runaway price increase...Published: 25 May 2022 at 17:22hrs | 1144 | 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 | 191 | by Staff reporter
RBZ in dramatic U-turn on lending
THE central bank yesterday lifted its temporary suspension of lending services by banks after the policy triggered sustained protests from industry, commerce and the public in general.In a sta...Published: 18 May 2022 at 06:23hrs | 1221 | by Staff reporter
Forex auction allots US$107 million
The Reserve Bank of Zimbabwe (RBZ) says a total of US$107,8 million was allocated to companies under the foreign exchange auction system in April.The auction system was established in 2020 to ...Published: 17 May 2022 at 06:37hrs | 352 | by Staff reporter
Ncube casino economics killing goose that lays eggs
THE Zimbabwean dollar is tumbling at a fast rate and it will only respond positively when there is a change of government. As long as we are going to have this current leadership, nothing will c...Published: 16 May 2022 at 06:25hrs | 655 | by Leonard Koni
Fire Mthuli and Mangudya
The Zimbabwean dollar is tumbling at a very fast rate and it will only respond to the market when there is a change of government. As long as we are going to have this current leadership nothing...Published: 15 May 2022 at 09:22hrs | 7412 | by Leonard Koni
RBZ to name firms taking bank loans to black market
THE Reserve Bank of Zimbabwe (RBZ) has unearthed an elaborate practice by some big corporates in the country, who were borrowing large amounts of money from banks which they would then channel into th...Published: 15 May 2022 at 06:12hrs | 907 | 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 | 314 | by Staff reporter
Zimbabwe loans suspension review this week
The Reserve Bank of Zimbabwe (RBZ) will this week review the suspension of bank lending that was recently announced, as it moves to investigate contractors on allegations they have been fuelling the p...Published: 15 May 2022 at 06:11hrs | 396 | by Staff reporter
Chamisa blames Mnangagwa
PRESIDENT Emmerson Mnangagwa is being haunted by the 2018 legitimacy crisis that has seen the economy imploding and plunging the country into chaos, opposition Citizens' Coalition for Change leader Ne...Published: 13 May 2022 at 19:11hrs | 366 | by Staff reporter
Foreign banks troop to Zimbabwe forex auction
UNITED States-based multinational investment outfit JP Morgan was among global lenders that repatriated a combined US$30 million through the Reserve Bank of Zimbabwe (RBZ)'s forex auction system by th...Published: 13 May 2022 at 19:10hrs | 690 | by Staff reporter
Legislators letting citizens down
IT is now clear that Zimbabwe's parliamentarians are not playing their role of fixing the mess in our country's financial sector. The Zimbabwean government has introduced several statutory instruments...Published: 13 May 2022 at 19:04hrs | 27 | by Engineer Jacob Kudzayi Mutisi
Chamisa's CCC slams Mnangagwa
The Citizens Coalition for Change (CCC) on Wednesday vowed a robust challenge to controversial measures to shore up the fast-depreciating Zimbabwe dollar, announced by President Emmerson Mnangagwa las...Published: 11 May 2022 at 19:10hrs | 550 | by Staff reporter
Zimbabwe's central bank clarifies lending directive
The central bank says the suspension of lending by banks to government and private institutions announced by President Emmerson Mnangagwa at the weekend will include micro-financial institutions....Published: 11 May 2022 at 09:13hrs | 993 | by Staff reporter
Dollar o'clock: Should Zimbabwe axe its faltering currency again?
IN early 2019, Zimbabwe's central bank announced plans to bring back the Zimbabwe dollar as legal tender after a decade of using the US dollar and seven other international currencies because raging h...Published: 11 May 2022 at 09:11hrs | 407 | by Staff reporter
More investors flock into Zimbabwe
United Arab Emirates billionaire investor Mr Shaji Ul Mulk, who is back in the country to ensure the implementation of projects agreed during his visit last month, has said the country offers vast unt...Published: 11 May 2022 at 09:08hrs | 289 | by Staff reporter
Reserve Bank of Zimbabwe says bank lending ban 'temporary'
Zimbabwe's freeze on bank lending is a temporary measure which is meant to contain inflation and stabilise its economy, central bank governor John Mangudya told state television on Tuesday.Pre...Published: 10 May 2022 at 15:29hrs | 1024 | 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 | 3271 | 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 | 1559 | by Staff reporter
Mnangagwa to copy Putin's currency strategy
Zimbabwe's President Emmerson Mnangagwa is trying to emulate Russian President Vladimir Putin in his attempt to revive Africa's worst performing currency. Mnangagwa's administration may announ...Published: 03 May 2022 at 06:43hrs | 2942 | 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 | 211 | by Staff reporter
Trafigura seeks control of Zimbabwe metals over debts
TRAFIGURA Group and Zimbabwe's government have discussed a deal that would give the commodities trader control over output from some of the nation's biggest mines as repayment for debts, documents see...Published: 30 Apr 2022 at 16:15hrs | 159 | by Staff reporter
'Zimbabwe won't rush to mono-currency regime'
THE Reserve Bank of Zimbabwe (RBZ) has given assurances that there will be no rushed exclusive adoption of either the Zimbabwe dollar or US dollar currency regime.This was revealed by the Conf...Published: 28 Apr 2022 at 08:55hrs | 182 | by Staff reporter
John Mangudya and CZI kiss and make up
In its position paper on the sensitive issue leaked to the media on Friday, CZI called on the Reserve Bank of Zimbabwe (RBZ) to suspend the foreign currency auction system after the Zimdollar fell to ...Published: 27 Apr 2022 at 11:39hrs | 1059 | by Mandla Ndlovu
Please tell me the president is also paid in Zim dollars!
As a truly patriotic Zimbabwean - who earnestly cares about this country's development and fellow citizens' welfare and wellbeing - I make every effort in...Published: 26 Apr 2022 at 20:33hrs | 2331 | by Tendai Ruben Mbofana
CZI hits back at Mangundya over Zimdollar crisis
THE Confederation of Zimbabwe Industries (CZI) has hit back at Reserve Bank of Zimbabwe (RBZ) governor John Mangudya's suggestion that their position on the crumbling local currency was misinformed....Published: 25 Apr 2022 at 09:18hrs | 1426 | by Staff reporter
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