Search / Monetary policy statement
Competition hits PPC cash flows
PERSISTENT macro-economic risks and intense competition across regional cement producer Pretoria Portland Cement (PPC)'s business units have affected the firm's return on capital and free cash flows, ...Published: 17 Jan 2020 at 06:07hrs | 181 | by Staff rpeorter
Probe rogue RBZ, says Biti
PUBLIC Accounts Committee (PAC) chairperson Tendai Biti yesterday said the Financial Intelligence Unit (FIU) must be removed from being under the Reserve Bank of Zimbabwe (RBZ), alleging that the cent...Published: 30 Nov 2019 at 11:49hrs | 736 | by Staff reporter
Confusion over 'new currency'
CONFUSION reigns supreme ahead of the introduction of new coins and bank notes of the Zimbabwe dollar with the Reserve Bank of Zimbabwe (RBZ) yesterday releasing a statement that it will be injecting ...Published: 05 Nov 2019 at 06:49hrs | 2421 | by Staff reporter
$2 coins issuance date set
THE Reserve Bank of Zimbabwe (RBZ) will issue two-dollar coins on Monday next week and these will circulate alongside the two-dollar bond note, the Governor, Dr John Mangudya, said yesterday. ...Published: 05 Nov 2019 at 06:44hrs | 524 | by Staff reporter
Zimbabwe trade deficit narrows 66%
ZIMBABWE'S trade deficit, which represents an outflow of domestic currency to foreign markets, narrowed by 66% to US$670 million between February and September this year compared to the same period la...Published: 31 Oct 2019 at 07:21hrs | 316 | by Staff reporter
Forex market stabilising: RBZ
According to the Reserve Bank of Zimbabwe in its mid-term Monetary Policy Statement, activity on the interbank foreign exchange market has increased since its introduction in February 2019. Th...Published: 29 Oct 2019 at 06:35hrs | 1317 | by Staff reporter
Trade deficit narrows by 63%
ZIMBABWE'S trade deficit narrowed by 63% to US$644 million between February and August this year compared to the same period last year, due to shortages of foreign currency for imports.Figures...Published: 15 Oct 2019 at 06:51hrs | 719 | by Staff reporter
Zimbabwean eonomy on free fall
The economic meltdown has reached alarming proportions. Several factors have all combined to engender the collapse of the economy: State capture, a parasitic elite, corruption, weekly fuel price...Published: 06 Oct 2019 at 21:28hrs | 1732 | by Dr Tapiwa Mashakada
'Zisco demise costing Zimbabwe US$400m annually'
ZIMBABWE is losing about US$400 million annually through importing steel and related products since the collapse of Zisco in the last decade, Industry and Commerce Minister, Mangaliso Ndlovu, has said...Published: 27 Sep 2019 at 07:15hrs | 80 | by Staff reporter
Review of the Mid Term Monetary Policy Framework
The Zimbabwean government announced the much awaited Monetary Policy Committee (MPC) on the 10th of September 2019, a few days before the announcement of the mid-term monetary policy. The appointment ...Published: 25 Sep 2019 at 09:14hrs | 1743 | by Victor Bhoroma
RBZ to drive Fintech development
Reserve Bank of Zimbabwe (RBZ) is warming up to local and foreign companies willing to offer Financial Technology (Fintech) services and products in the country. The development comes in the w...Published: 23 Sep 2019 at 06:12hrs | 723 | by Staff reporter
Zimbabwe exchange rate Armageddon near
THE Monetary Policy Statement (MPS) released last Friday supplied data which when analysed show that unless drastic measures are taken, our local currency will take a heavy battering in the coming wee...Published: 21 Sep 2019 at 07:32hrs | 3874 | by Brett Chulu
174 subscribe to credit registry system
THE credit registry system posted an increase in subscriber numbers to 174 subscribers in the period ended June 30, 2019 from 162 subscribers recorded in September, 2018, the central bank has revealed...Published: 19 Sep 2019 at 07:06hrs | 423 | by Staff reporter
RBZ introduces US dollar savings bond
The Reserve Bank of Zimbabwe (RBZ) has brought to the market a United States dollar-denominated savings bond with an interest rate of 7,5 percent per annum to promote a savings culture among Zimbabwea...Published: 18 Sep 2019 at 06:44hrs | 3085 | by Staff reporter
Zacc pounces on EcoCash agents
THE Zimbabwe Anti-Corruption Commission (Zacc) has instituted a major probe into the operations of the country's EcoCash agents who are being accused of fleecing citizens of their money.Zacc s...Published: 17 Sep 2019 at 07:32hrs | 1311 | by Staff reporter
Zimbabwe inflation 'slows' again
The month-on-month inflation rate for August 2019 slowed to 18,07 percent after shedding 2,97 percentage points on July's 21,04 percent. According to the Zimbabwe National Statistics Agency, (...Published: 17 Sep 2019 at 07:24hrs | 303 | by Staff reporter
'Mangudya's monetary measures hollow'
A cocktail of measures unveiled by Reserve Bank of Zimbabwe (RBZ) governor John Mangudya in his midterm monetary policy statement fall short of stimulating economic growth and market confidence as the...Published: 17 Sep 2019 at 07:14hrs | 384 | by Staff reporter
Mangudya faces daunting task
RESERVE Bank of Zimbabwe governor John Mangudya will soon present his mid- term Monetary Policy Statement, tasked with introducing a cocktail of measures to instil confidence in the market amid a deep...Published: 13 Sep 2019 at 06:38hrs | 1209 | by Staff reporter
Mthuli Ncube cornered over 'unexplained' forex expenditure
HARARE East legislator Tendai Biti (MDC Alliance) on Thursday last week demanded that Finance minister Mthuli Ncube explain to Parliament where the country's foreign currency has been going given that...Published: 29 Jul 2019 at 07:47hrs | 3580 | by Staff reporter
SI 142 yields positive results
Having been asked by fellow Zimbabweans to clarify the impact of Statutory Instrument 142 of 2019 (SI 142/2019), announced by Finance and Economic Development Minister Professor Mthuli Ncube on June 2...Published: 15 Jul 2019 at 07:45hrs | 720 | by Tendai A. Chinamasa
US blocks Cyclone Idai aid
The Japanese religious movement, Soka Gakkai Foundation is failing to forward its US$10 000-00 donation to Cyclone Idai victims, citing the unilateral sanctions on Zimbabwe by the United States, Harar...Published: 09 Jul 2019 at 09:56hrs | 2763 | by Gondai Kamumango
Zimbabwe loses billions to illicit financial flows
GOVERNMENT should complement monetary policy changes with an anti-corruption strategy to curb illicit financial flows (IFFs) as the country is losing billions annually, businessdigest has learnt....Published: 05 Jul 2019 at 12:37hrs | 1738 | by Staff reporter
IMF welcomes Mthuli Ncube's monetary reforms
The International Monetary Fund (IMF) says the latest reforms announced by both the Ministry of Finance and Economic Development through SI 142 of 2019 and the Reserve Bank of Zimbabwe through exchang...Published: 05 Jul 2019 at 07:49hrs | 3920 | by Staff reporter
Giving Mthuli Ncube's mono-currency a fighting chance
It is July 1, 1916, World War 1, the Battle of the Somme. The British Army had been planning for weeks and months for a massive assault on German positions dug in around Somme, to relieve pressure on ...Published: 04 Jul 2019 at 18:46hrs | 4040 | by Joseph Mverecha
Mthuli Ncube's speech to AfDB boards of governors - Fulltext
Speech by the minister of finance and economic development, Hon. Prof. Mthuli Ncube during the 2019 annual meetings of the boards of governors of the African Development Bank Group: Malabo, Republic o...Published: 16 Jun 2019 at 20:03hrs | 1047 | by Mthuli NCube
'Zimbabwe inflation to shoot up to 280% by year-end'
INFLATION could end the year around 280% and may rise to stratospheric levels thereafter if a new currency is introduced without preceding macro-economic fundamentals, a local research firm has said....Published: 14 Jun 2019 at 08:26hrs | 1725 | by Staff reporter
A damning indictment on Mnangagwa
PRESIDENT Emmerson Mnangagwa's administration's failure to address the economic challenges bedevilling the country - despite lofty promises - could have been described as spectacular if it were not so...Published: 14 Jun 2019 at 08:20hrs | 2724 | by Owen Gagare
What the latest IMF report on Zimbabwe means
In the report, the International Monetary Fund (IMF) acknowledges the commitment by President Emmerson Mnangagwa's government to stabilise Zimbabwe's economy.The fund also reveals that the IMF...Published: 05 Jun 2019 at 08:01hrs | 2133 | by newZWire
Forex measures suffocate exporters
INDUSTRY has warned a fresh tide of closures of exporting manufacturing companies is looming in Zimbabwe owing to stringent foreign currency retention measures introduced by government in February at ...Published: 31 May 2019 at 08:07hrs | 313 | by Staff reporter
RBZ fail to fund Zimbabwe investor portfolio fund
THE Reserve Bank of Zimbabwe (RBZ) has failed to fund the Zimbabwe investor portfolio fund since 2017 due to loss of confidence in the economy by foreign investors, businessdigest reported.Fun...Published: 31 May 2019 at 07:57hrs | 264 | by Staff reporter
'Biti destroyed Zimbabwe's ability to conduct its own monetary policy completely'
Finance and Economic Development Minister Professor Mtuli Ncube has said the monetary policy is a vital leg in Government's economic recovery efforts without which fiscal efforts alone are rather inad...Published: 31 May 2019 at 07:43hrs | 1812 | by Staff reporter
Monetary policy unlikely to resuscitate Zimbabwe economy
ZIMBABWE'S new monetary system is unlikely to lead to a rapid improvement in liquidity - thus economic growth - in the short to medium-term, a report has revealed.In its monetary policy statem...Published: 24 May 2019 at 07:35hrs | 617 | by Staff reporter
'Pensioners to be paid in US dollars'
THE Insurance and Pensions Commission (IPEC) has engaged the World Bank to come up with a model aimed at ensuring policyholders and pensioners who paid premiums and contributions from 2009 to February...Published: 19 May 2019 at 09:11hrs | 1256 | by Staff reporter
RBZ fast tracks fuel deliveries
The Reserve Bank of Zimbabwe (RBZ) says it has worked out a mechanism to ensure Letters of Credit (LCs) for the procurement of fuel overlap to minimise supply side gaps causing shortages that manifest...Published: 17 May 2019 at 07:22hrs | 3598 | by Staff reporter
'Zimbabwe has no price distortions'
GOVERNMENT has denied there is a three-tier pricing system with Industry and Commerce deputy minister RajeshKumar (Raj) Modi claiming the 2019 Monetary Policy Statement (MPS) by Reserve Bank of Zimbab...Published: 13 May 2019 at 16:19hrs | 1136 | by Staff reporter
Foreign investors threaten ZSE pullout
The inability by foreign investors to repatriate capital and disinvestment proceeds from the country is hampering the performance of the Zimbabwe Stock Exchange, amid reports custodians are threatenin...Published: 03 May 2019 at 09:55hrs | 2660 | by Staff reporter
Zimbabwe needs political solutions for economic problems
Hawkins, an economics professor who founded the Graduate School of Management at the University of Zimbabwe, made the remarks at a recent breakfast meeting hosted by the Institute of Directors Zimbabw...Published: 29 Apr 2019 at 13:10hrs | 1505 | by Dr Masimba Mavaza
RBZ sabotaging Zimbabwe economic recovery
WHEN Mthuli Ncube was appointed Finance and Economic Development minister, he quickly took charge at the ministry, appointing a new permanent secretary and several directors and publishing a Transitio...Published: 29 Apr 2019 at 07:10hrs | 2209 | by Eddie Cross
Mnangagwa's govt lays new siege on business
GOVERNMENT has laid siege on the business sector, ominously accusing it of overcharging consumers in pursuit of super profits and engaging in "financial terrorism".President Emmerson Mnangagwa...Published: 26 Apr 2019 at 17:31hrs | | by Staff reporter
Basic goods prices shoot up 200%
PRICES of basic commodities have risen sharply with some increasing by almost 200% between October last year and April this year, according to official statistics.Presenting a paper titled Zim...Published: 26 Apr 2019 at 17:30hrs | 1541 | by Staff reporter
Mnangagwa warned of brewing unrest
THERE are growing fears that Zimbabwe's fast-deteriorating economic situation - marked by shocking price hikes and severe shortages of foreign currency, fuel and vital medicines - could trigger social...Published: 23 Apr 2019 at 07:49hrs | 19978 | by Staff reporter
Mnangagwa told to be realistic
GOVERNMENT needs to be realistic about the economic situation in the country, captains of industry have said.They were reacting to statements made by President Emmerson Mnangagwa in his keynot...Published: 22 Apr 2019 at 08:38hrs | 1139 | by Staff reporter
MDC led council not going back on tariff increase
BULAWAYO mayor Solomon Mguni yesterday said there is no going back on proposed increase on rates and tariffs in the face of inflation, despite residents' resistance to a review of the city's 2019 budg...Published: 22 Apr 2019 at 08:38hrs | 458 | by Staff reporter
Angry Mnangagwa lashes 'unpatriotic and inhumane' forces
PRESIDENT Emmerson Mnangagwa yesterday accused some businesses of being "unpatriotic and inhumane" following the recent sharp hikes in the prices of basic consumer goods around the country.At ...Published: 19 Apr 2019 at 11:10hrs | 2521 | by Staff reporter
Rebirth of the Zimdollar
Zimbabwean central bank authorities have a traceable record of overnight monetary policy changes. Memories of the former Reserve Bank of Zimbabwe (RBZ) governor Gideon Gono era of monetary policy hip-...Published: 19 Apr 2019 at 11:09hrs | 1439 | by Paddington Masamha
Zimbabwe trade deficit drops by 90%
ZIMBABWE'S trade deficit dropped by 90% to $22,1 million in February this year with analysts attributing the decline to foreign currency shortages.Figures released by the Zimbabwe Statistics A...Published: 19 Apr 2019 at 07:26hrs | | by Staff reporter
Zimbabwe marks 39th Independence Day amid economic crises
Thousands of people will gather today to watch a military-civilian parade in the capital, Harare, as Zimbabwe marks the 39th anniversary of its independence from Britain.Thousands of people ar...Published: 18 Apr 2019 at 07:19hrs | 397 | by Staff reporter
Zimbabwe black market running amok
GOVERNMENT is facing renewed pressure on the economic front, with the parallel foreign currency market once again running amok — pushing the prices of basic consumer goods like bread beyond the reac...Published: 17 Apr 2019 at 07:25hrs | 31732 | by Staff reporter
Zimbabwe needs a weak currency to stimulate production, exports
Shortly after the government was sworn in August 2018, they agreed to an economic and monetary reform programme. Since then, much of this ambitious plan has been implemented and the consequences have ...Published: 17 Apr 2019 at 07:15hrs | 1250 | by Eddie Cross
Mthuli Ncube triggers panic
LONG-suffering Zimbabweans should brace for even tougher economic times ahead, following last week's surprise announcement by Finance minister Mthuli Ncube that the country would have yet another curr...Published: 15 Apr 2019 at 10:56hrs | 19928 | by Staff reporter
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