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Zimbabwe central bank summons Bank CEOs
The Reserve Bank of Zimbabwe (RBZ) has summoned chief executives of key financial institutions, specifically banks, for a meeting tomorrow morning ahead of the much-anticipated launch of a new currenc...Published: 04 Apr 2024 at 10:29hrs | 1 | by Staff reporter
Zesa smart meter tender challenge dismissed
A LOCAL company, Denallare Technologies Pvt Ltd, unsuccessfully filed for an application for condonation at the Supreme Court, challenging the Zimbabwe Electricity Transmission and Distribution Compan...Published: 19 Mar 2024 at 17:35hrs | | by Staff reporter
CCC MPs sold out
THE Citizens Coalition for Change (CCC) on Thursday had a bloodrush to the head. They caused a mini commotion in the National Assembly and took with them down the people of Zimbabwe when they received...Published: 17 Dec 2023 at 18:09hrs | 1 | by Paidamoyo Muzulu
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 | 1 | by Patriot
Grace Mugabe's huge daily cash withdrawals exposed
FORMER first lady Grace Mugabe allegedly made multiple United States dollar cash withdrawals amounting to US$300 000 per day in 2019 from her CBZ Bank account at a time ordinary Zimbabweans were allow...Published: 23 Apr 2021 at 07:31hrs | | by Staff reporter
Zimra slammed over non-disclosure of US dollar revenue
ECONOMIC experts have slammed the Zimbabwe Revenue Authority (Zimra) over the non-disclosure of foreign currency revenues in its earnings.This is despite the fact that government published Sta...Published: 17 Apr 2021 at 16:24hrs | | by Staff reporter
'Zimbabwe hurtling towards stagflation'
LAST week the CEO Africa Roundtable (CEOART) gathered some of Zimbabwe's best economists and industrialists to digest economic developments during the first quarter of 2021. What came out of the summi...Published: 04 Apr 2021 at 09:44hrs | 2 | by Staff reporter
Zupco forex fares spark outcry
Zimbabwe United Passenger Company (Zupco) has started charging fares in foreign currency alongside local currency, but passengers have decried the disregard for official exchange rates. Yester...Published: 05 Feb 2021 at 06:37hrs | | by Staff reporter
Zimbabwe's economic outlook for 2021
Zimbabwe's economy ended the year 2020 on a fairly stable note due to the return of the multi-currency regime and decline in general inflation levels in the market. Headwinds caused by incessant power...Published: 08 Jan 2021 at 21:02hrs | | by Victor Bhoroma
Zimbabwe cash crisis spirals out of control
IT is an August morning in Harare. Winter winds are blowing cold. Samuel braves the cold, wakes up at 3am from his Kuwadzana home and treks to the central business district to look for cash at the ban...Published: 15 Aug 2019 at 07:28hrs | | by Staff greporter
Fact-checking Mthuli Ncube
"It's early days, we just introduced the new currency regime a little over a month ago, so it (the new currency) is trying to find its way, it is trying to find equilibrium; it will get there and clos...Published: 15 Aug 2019 at 07:27hrs | | by Staff reporter
Mnangagwa promises Zimbabweans a better tomorrow
PRESIDENT Emmerson Mnangagwa has promised Zimbabweans a better tomorrow as long as they tough it out to see his austerity measures bear fruit.Mnangagwa told thousands gathered for Defence Forc...Published: 14 Aug 2019 at 07:38hrs | | by newzimbabwe
Cartel mops up Zimbabwe's gold
Zimbabwe's new monetary reforms and unfavourable prices being offered by authorities have given life to side marketing in the gold sector following the emergence of a powerful cartel comprised of top ...Published: 01 Aug 2019 at 09:27hrs | 1 | by Staff reporter
Zimdollar return: Beware the cobra effect
Last month, the government took all and sundry by surprise when it banned the use of multi-currencies in all local transactions and reintroduced the Zimdollar; abandoned due hyperinflation in 2009....Published: 24 Jul 2019 at 08:24hrs | | by Cliff Chiduku
RBZ takes reforms gospel to churches
Reserve Bank of Zimbabwe Governor Dr John Mangudya yesterday met church organisations, under the banner of the Zimbabwe Amalgamated Church Council (ZACC) and explained the new local currency regime fo...Published: 19 Jul 2019 at 07:11hrs | | by Staff reporter
Mthuli Ncube doing everything by the book
Zimbabwe's Finance Minister Mthuli Ncube seems to be doing everything by the book as he pursues orthodox economic policy often prescribed by the global "Bretton Woods" lending institutions to try and ...Published: 18 Jul 2019 at 16:48hrs | | by Reuters
'Zimbabweans sold US$8m to banks'
Zimbabweans sold about US$8 million to banks in exchange for the local currency after government outlawed the use of foreign currencies for domestic transactions, central bank chief John Mangudya said...Published: 08 Jul 2019 at 22:24hrs | | by Staff reporter
Multi-currency was a disaster
Government says multi-currency system created fiscal and monetary challenges, stunting economic growth and making most industries in Zimbabwe uncompetitive. Treasury permanent-secretary George...Published: 08 Jul 2019 at 08:31hrs | | by Staff reporter
'Multi-currency stifled Zimbabwe economic growth'
THE use of the multi-currency system since 2009 stifled growth as the country could not utilise monetary instruments to stimulate economic activity, Finance and Economic Development Minister, Prof Mth...Published: 08 Jul 2019 at 07:57hrs | | by Staff reporter
Fresh Zimdollar headache for govt
The government's decision to reintroduce the local currency faces a serious test after a third person filed a High Court application challenging President Emmerson Mnangagwa's use of presidential powe...Published: 07 Jul 2019 at 21:34hrs | | by Staff reporter
Mixed feelings over Zimdollar return
The move was bold, and many did not see it coming.In a bid to defend the new and fledgling Zimbabwean dollar against black market speculation, the country's Finance minister on June 25 outlawe...Published: 07 Jul 2019 at 21:19hrs | | by Al Jazeera
RBZ unleashes monitors
THE Reserve Bank of Zimbabwe (RBZ) has dispatched a monitoring team to knock down the last bastions of unscrupulous businesses that are still transacting in foreign currency.Last month, the Go...Published: 07 Jul 2019 at 21:07hrs | | by Staff reporter
Interbank rate overtakes black market
THE interbank exchange rate has surpassed parallel market rates with some banks offering more in local currency for those exchanging their foreign currency. Government last week outlawed the u...Published: 03 Jul 2019 at 08:25hrs | | by Staff reporter
Minister Ncube you are printing Z$ 400 m to pay for increased expenditure = financial indiscipline. Simple!
"ZIMBABWE will print ZWL$400 million bond notes which it says will be drip-fed into the economy to cover the gap left after government banned the use of multi-currencies in local transactions," report...Published: 03 Jul 2019 at 07:37hrs | | by Patrick Guramatunhu
Zimbabwe to print $400 million bond notes
ZIMBABWE will print ZWL$400 million bond notes which it says will be drip-fed into the economy to cover the gap left after government banned the use of multi-currencies in local transactions.T...Published: 02 Jul 2019 at 08:32hrs | | by Staff reporter
US$ as deity in Zimbabwe
THE Zimbabwean government recently did the unfathomable, at least according to social media pundits, some civil society organisations, unions and influential urbanites. It arbitrarily and abruptly re-...Published: 28 Jun 2019 at 06:22hrs | 1 | by Takura Zhangazha
Tajamuka gives Mnangagwa 7 day ultimatum
FIREBRAND pressure group Tajamuka/Sesijikile has given President Emmerson Mnangagwa a seven-day ultimatum to fix the current crippling financial crisis short of which they will call for a national shu...Published: 26 Jun 2019 at 07:22hrs | | by newzimbabwe
Extraordinary measure for extraordinary: A case of Zimbabwe's austerity measures
In the Bible when Jacob was faced with a situation he was supposed to meet Esau his brother he was so afraid knowing that he had subtly stolen the latter's blessing. During the night, Jacob wrestled a...Published: 12 Jun 2019 at 15:34hrs | 8 | by Elijah Chihota
Zimbabwe now in defacto dollarisation
THE persistent price volatility in the economy has left producers and retailers in Zimbabwe with very limited options apart from indexing their products in the US dollar or pegging their Real-Time Gro...Published: 31 May 2019 at 08:08hrs | 1 | by Victor Bhoroma
Zimbabwe property owners charge rentals in forex
PROPERTY owners are now demanding rentals in foreign currency as the local unit continues to rapidly lose value against the US dollar, businessdigest has learnt.The trend of charging goods and...Published: 15 Feb 2019 at 08:21hrs | | by Staff reporter
Zimbabwe bond notes under siege
The bond note is increasingly suffering rejection from the corporate sector after Delta Corporation Limited went public on Wednesday saying it will be selling its products in hard currency.Del...Published: 04 Jan 2019 at 19:31hrs | | by Staff reporter
'Trade in forex, pay tax in forex'
The Zimbabwe Revenue Authority has directed businesses that are trading in multi-currencies to remit taxes in the same currency in which the goods have been sold. "Zimbabwe Revenue Authority h...Published: 19 Nov 2018 at 05:56hrs | | by Staff reporter
Businesses trading in US dollars to pay tax in that currency, says Zimra
In a subtle admission that Zimbabwe is using 3 currencies the USD, Bond and RTGS, Zimbabwe Revenue Authority (ZIMRA) is advising the public that businesses selling goods in USD should pay taxes in USD...Published: 18 Nov 2018 at 12:45hrs | | by Ndou Paul
Mnangagwa unleashes CIO on cash barons
FINANCE minister Mthuli Ncube will this week meet with the country's State security agents for a briefing on the soaring foreign currency shortages as government tightens the noose on highly-placed fo...Published: 22 Oct 2018 at 06:44hrs | | by Staff reporter
Monetary, fiscal policies: The equivalent of a two legged stool?
ON October 1, 2018, the Reserve Bank of Zimbabwe (RBZ) issued its rather long monetary policy statement (MPS).Empirical evidence has shown that ordinarily, the length of such a statement is in...Published: 11 Oct 2018 at 06:38hrs | | by Tapiwa Nyandoro
Causes of liquidity crisis and its impact on economy
DURING the past week, the media has been awash with reports of price hikes of goods and some commodities running out on the market.Products ranging from cement to chickens and other basic comm...Published: 09 Sep 2018 at 08:38hrs | | by Dr Bongani Ngwenya
Are the $Bond notes chasing the $USD
As old as about 5 centuries, the Gresham's Law remains a fact. When two or more kinds of money of unequal exchange value are in concurrent circulation, each being available for payments, the other one...Published: 14 Jun 2017 at 16:23hrs | | by Tryson G. Dube
Anger over spot fines hike
Zimbabwean authorities have generated outrage after increasing spot fines by up to 100 percent to try to deter road carnage, to the bemusement and anger of many motorists.Motorists demanded a ...Published: 02 Apr 2017 at 18:30hrs | | by Staff reporter
'It's too late for Zimbabwe to adopt rand,' says Biti
Ex-Finance minister Tendai Biti has said it is too late for Zimbabwe to adopt the South African rand as a dominating currency.Writing on his Twitter account, the opposition People's Democratic...Published: 29 Mar 2017 at 07:18hrs | | by Staff reporter
Traffic fines hiked
Motorists who are in a habit of ignoring traffic regulations should be prepared to pay more in fines next year. Finance Minister Patrick Chinamasa has proposed to hike a string on fines t...Published: 09 Dec 2016 at 05:50hrs | | by Alice Dube
Bond notes a disaster- Mutodi
A Zanu PF youth member Energy Mutodi has described the bond notes recently introduced by the Reserve Bank of Zimbabwe as a disaster to the citizens.He said Zimbabwean fiscal and monetary...Published: 07 Dec 2016 at 03:52hrs | | by Stephen Jakes
We'll not flood market with bond notes, says Mangudya
The Reserve Bank of Zimbabwe (RBZ) says it will not be negligent and flood the market with bond notes, due to be launched before the end of this month, to avoid fuelling inflation.The impending la...Published: 25 Nov 2016 at 05:24hrs | | by Staff reporter
Bond notes a disaster, says Energy Mutodi
A controversial Zanu-PF youth member Energy Mutodi has described the bond notes which the government is introducing this month end as a disaster for the nation.He said Zimbabwean fiscal an...Published: 14 Nov 2016 at 07:43hrs | | by Stephen Jakes
Bond notes to hit the market in 2 weeks
BOND notes are now ready and will be released into the market in two weeks' time as part of the export incentive that is meant to reward exporters and ease cash shortages.The bond notes ar...Published: 13 Nov 2016 at 09:21hrs | | by Staff reporter
'Bond notes to circulate till Zimdollar returns'
THE Reserve Bank of Zimbabwe (RBZ) has said bond notes, which are due for introduction this month, will remain in circulation for as long as the country does not have its own official currency....Published: 04 Nov 2016 at 05:40hrs | | by Staff reporter
Zimbabwe government confused over preferred currency, says Mnangagwa
Government is not sure which currency to adopt as the US dollar is giving headaches and the South African rand is out of the radar, Vice President Emmerson Mnangagwa has said."The US...Published: 20 Oct 2016 at 10:29hrs | | by Thobekile Zhou
Chinamasa silent on bond notes but says multi-currencies to stay
Finance Minister Patrick Chinamasa has said the use of multi-currencies will continue until such a time the country is able to sustain its own currency.Chinamasa sa...Published: 08 Sep 2016 at 15:13hrs | | by Thobekile Zhou
Liquidity shortages force people to open bank accounts
Ongoing cash shortages in Zimbabwe are forcing many companies which used to pay their employees in cash to resort to bank deposits.Like individuals, companies are now accessing very little...Published: 21 Aug 2016 at 09:36hrs | 1 | by Staff reporter
Govt sets multi currency deadline
Government has set June 30 as the deadline by which State institutions, parastatals and local authorities should have embraced multi-currency arrangements in payment transactions to promote financ...Published: 15 Jun 2016 at 06:40hrs | | by Staff reporter
Retailers give thumbs up bond notes
THE Confederation of Zimbabwe Retailers (CZR) says the introduction of bond notes will enhance business operations and ease foreign exchange pressures.Reserve Bank of Zimbabwe (RBZ) governor J...Published: 27 May 2016 at 06:35hrs | | by Bianca Mlilo
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