Search / Monetary policy statement
'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 | 1180 | 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 | 3620 | 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 | 1121 | 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 | 2616 | 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 | 1431 | 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 | 2170 | 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 | 1917 | 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 | 1516 | 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 | 19793 | 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 | 1129 | 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 | 437 | 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 | 2483 | 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 | 1419 | by Paddington Masamha
Zimbabwe trade deficit drops by 90%
ZIMBABWE'S trade deficit dropped by 90% to $22,1 million in February this year with analysts attributing the decline to foreign currency shortages.Figures released by the Zimbabwe Statistics A...Published: 19 Apr 2019 at 07:26hrs | 307 | by Staff reporter
Zimbabwe marks 39th Independence Day amid economic crises
Thousands of people will gather today to watch a military-civilian parade in the capital, Harare, as Zimbabwe marks the 39th anniversary of its independence from Britain.Thousands of people ar...Published: 18 Apr 2019 at 07:19hrs | 401 | by Staff reporter
Zimbabwe black market running amok
GOVERNMENT is facing renewed pressure on the economic front, with the parallel foreign currency market once again running amok — pushing the prices of basic consumer goods like bread beyond the reac...Published: 17 Apr 2019 at 07:25hrs | 31489 | by Staff reporter
Zimbabwe needs a weak currency to stimulate production, exports
Shortly after the government was sworn in August 2018, they agreed to an economic and monetary reform programme. Since then, much of this ambitious plan has been implemented and the consequences have ...Published: 17 Apr 2019 at 07:15hrs | 1225 | by Eddie Cross
Mthuli Ncube triggers panic
LONG-suffering Zimbabweans should brace for even tougher economic times ahead, following last week's surprise announcement by Finance minister Mthuli Ncube that the country would have yet another curr...Published: 15 Apr 2019 at 10:56hrs | 19845 | by Staff reporter
Zimdaba II - Zimbabwe achieving its investment goals - more opportunities available
The recently concluded Zimdaba II, held at the Royal Geographical Society, London on 9th and 10th April highlighted something that tends to be overlooked when reporting on Zimbabwe, and that is the fa...Published: 15 Apr 2019 at 10:13hrs | 431 | by Staff reporter
Zimbabwe says US$ not good for economy
ZIMBABWE's continued use of the United States dollar is no longer sustainable for the economy as it hurts industry's competitiveness, a Cabinet minister has said.Industry and Commerce minister...Published: 14 Apr 2019 at 10:03hrs | 1493 | by Staff reporter
MDC against IMF's support for Zimbabwe
The proposed IMF Staff Monitored Program is an entry point for full support of the regime and it ignores the factors arresting the Zimbabwean economy. Zimbabwe has had a stolen election; ...Published: 13 Apr 2019 at 15:56hrs | 1522 | by Jacob Mafume
Forex duty on vehicles to stay, says Mthuli
VEHICLE importers will continue to pay duty in foreign currency despite the introduction of the interbank foreign currency market, as Government seeks to promote policy consistency. This was s...Published: 09 Apr 2019 at 07:21hrs | 1350 | by Staff reporter
Mnangagwa's currency 'joke in bad taste'
AN off-hand comment regarding the local RTGS currency, by President Emmerson Mnangagwa has left the country's biggest opposition party, the MDC fuming.Mnangagwa told victims of Cyclone Idai in...Published: 07 Apr 2019 at 08:35hrs | 540 | by newzimbabwe
Zimbabwe war veterans demand more money
War veterans, who in the late 1990s demanded and received gratuities, have filed a High Court application to push President Emmerson Mnangagwa's government to honour other monetary promises dating bac...Published: 05 Apr 2019 at 16:01hrs | 1049 | by ZimLive
Zimbabwe must tackle structural problems, fiscal dilemmas
AFTER showing signs of revival during the inclusive government era between 2009 and 2013, Zimbabwe's economy has been on a tailspin since the 2013 elections. Government has struggled to restore econom...Published: 05 Apr 2019 at 10:00hrs | 323 | by Staff reporter
RTGS$ introduction inflicts further pensioner prejudice
MANY pensioners now being paid in Real-Time Gross Settlement (RTGS) dollars against their will have reported a drastic reduction in the purchasing power of their pensions.The RTGS$ is a new na...Published: 05 Apr 2019 at 09:58hrs | 1073 | by Martin Tarusenga
Zimbabwe tobacco sales plummet 85%
Zimbabwe's tobacco sales have plunged 85% with deliveries reaching only 1,6 million kg in the first 10 days of trade compared to the 10,9 million kg sold last year, statistics from the industry regula...Published: 05 Apr 2019 at 07:14hrs | 1350 | by Staff reporter
WATCH: Mnangagwa mocks bond note, celebrates 'real money'
President Emmerson Mnangagwa Thursday mocked the local RTGS currency saying it was not real currency as compared to the United States dollar.He said this in Ngangu, Chimanimani where he had vi...Published: 05 Apr 2019 at 07:05hrs | 3217 | by newzimbabwe
RTGS$, US dollar rate to converge with black market rate
The formal RTGS$ rate to the US dollar will converge with the parallel market rate in the short term and halt the inflationary pressure being exerted on the economy, according to Industry and Commerce...Published: 02 Apr 2019 at 08:04hrs | 2898 | by Staff reporter
Fresh price hikes hit Zimbabweans
CONSUMERS have expressed shock after major supermarkets and small scale retailers once again increased prices of some basic commodities by margins of up to 75 percent. Despite the stability in...Published: 02 Apr 2019 at 08:02hrs | 1410 | by Staff reporter
RBZ grants 26 firms bureaux de change licences
THE Reserve Bank of Zimbabwe (RBZ) has issued licences to 26 institutions to operate as Bureaux de Change.In a notice, the RBZ said this is line with foreign exchange guidelines in the 2019 Mo...Published: 01 Apr 2019 at 21:38hrs | 1082 | by Staff reporter
Zesa insists on 30% tariff hike
Zesa Holdings insists that a 30 percent tariff increase is critical to ensure the country continues to enjoy a steady supply of electricity, as there would be funds to repair the transmission and dist...Published: 31 Mar 2019 at 23:52hrs | 1474 | by Staff reporter
Government to introduce a new currency called E-Zollar by September?
In a pretexted bid to bring an end to the nation's perennial nightmarish currency woes, government is allegedly working on a secret plan to introduce a digital Zimbabwe dollar, as soon as a new curren...Published: 29 Mar 2019 at 09:00hrs | 29491 | by Spotlight
RTGS$ weakens 20% against the dollar
The RTGS dollar introduced by the Reserve Bank of Zimbabwe (RBZ) in its 2019 Monetary Policy Statement, has continued to weaken against major currencies as exporters continue to hold on to their US do...Published: 29 Mar 2019 at 06:27hrs | 3626 | by Staff reporter
Zimbabwe fuel consumption declines
The consumption of diesel and petrol plunged by almost 1,5 million litres and 1,8 million litres per day respectively between January and February this year, compared to previous months on the back of...Published: 28 Mar 2019 at 23:42hrs | 2276 | by Staff reporter
Econet increases voice call tariffs
THE country's biggest cellular network, Econet Wireless Zimbabwe, has increased tariffs for local voice calls to as high as RTGS$2,24 per minute. The new tariff adjustments come into effect from...Published: 28 Mar 2019 at 23:42hrs | 3026 | by Staff reporter
Prices of goods continue to go up
Prices of mostly basic commodities have significantly gone up over the past month, with analysts blaming it on exchange rate developments. A survey by the Daily News yesterday showed that prices of ba...Published: 28 Mar 2019 at 12:55hrs | 3254 | by Staff reporter
Exchange liberalisation right step: ICAZ
THE liberalisation of the foreign exchange rate by the Reserve Bank of Zimbabwe (RBZ) in this year's Monetary Policy Statement (MPS) has standardised financial reporting and done away with distortions...Published: 27 Mar 2019 at 23:06hrs | 125 | by Staff reporter
Zimbabwe internet service providers peg services in US$
ZIMBABWE's major internet service providers have pegged their broadband services in United States dollars in response to measures announced in the 2019 Monetary Policy Statement (MPS) presented in Feb...Published: 27 Mar 2019 at 22:49hrs | 923 | by Staff reporter
Zimbabwean mobile network operators, Potraz on collision course over pricing
Zimbabwean mobile network operators (MNOs) are up in arms with the Postal and Telecommunications Regulatory Authority of Zimbabwe (Potraz) over the ICT industry regulator's alleged intransigence o...Published: 27 Mar 2019 at 15:37hrs | 521 | by Staff reporter
'RTGS$ a failed fraud' Tendai Biti says
Former Finance Minister Tendai Biti says the recently introduced RTGS$ currency has failed to maintain a steady exchange rate thereby affecting people's savings. "The RTGS$ is a failed fraud. ...Published: 26 Mar 2019 at 06:56hrs | 6027 | by Mandla Ndlovu
Alternative currencies still legal tender in Zimbabwe
Legal think tank Veritas says the use of alternative currencies remains legal as Statutory Instruments (SIs) 32 or 33 of 2019 do not prohibit their use for pricing, recording debts, accounting and set...Published: 26 Mar 2019 at 06:18hrs | 603 | by Staff reporter
Solution to Zimbabwe's problems is political
Internationally acclaimed local economist Tony Hawkins says Zimbabwe's economic revival hinges on the building of consensus between the ruling Zanu-PF and the country's main opposition, the MDC....Published: 25 Mar 2019 at 07:17hrs | 1384 | by Staff reporter
'Payments shall be in US dollars'
International Air Transport Association (IATA), a trade association which represents interests of the world's airlines, has issued a directive to local travel agents that all remittances of amounts du...Published: 25 Mar 2019 at 06:51hrs | 2870 | by Staff reporter
Zimbabwe banks must support the interbank trading
THE interbank market, revived by the Reserve Bank of Zimbabwe (RBZ) recently, has gotten off to a slow start because the majority - if not all the banks - are still in the process of putting their sys...Published: 24 Mar 2019 at 14:11hrs | 533 | by Andrew Lampard
Zesa to hike electricity tariffs in line with interbank rates
STATE power utility, the Zimbabwe Electricity Supply Authority (Zesa) is mulling a tariff hike, it has emerged.This despite screams to the contrary following social media reports that Zesa was...Published: 23 Mar 2019 at 05:45hrs | 1731 | by newzimbabwe
New telecoms tariffs loom
CONSUMERS of telecommunications services must brace for a significant increase in tariffs, which will further eat into their pockets.The director-general of the Postal and Telecommunications R...Published: 22 Mar 2019 at 16:23hrs | 489 | by Staff reporter
'Wages up $570 from $441' government announced - liar, liar down $228 from $441
"Government and civil servants yesterday sealed a salary accord after the employer improved its offer to the workers from $350 million to $400 million," reported Zimeye."This will translate to...Published: 21 Mar 2019 at 14:42hrs | 4012 | by Patrick Guramatunhu
Interbank rate sparks row
Aspindale Park owners, Marimba Industrial Properties Limited, have come under fire from homeowners who purchased stands at their property after it allegedly revalued outstanding instalments for stands...Published: 19 Mar 2019 at 06:27hrs | 1040 | by Staff reporter
Price stability key to economic recovery
"A more efficient management system of scarce foreign exchange is key to price stabilisation and business growth."According to the "Transitional Stabilisation Programme" (TSP), the aspirations...Published: 18 Mar 2019 at 06:52hrs | 473 | by Vince Musewe
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