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Zimbabwe gold coins: A masterstroke?
IT is indeed in times of crisis and turmoil that the creativity of nations emerges and in my opinion, the idea of launching gold coins by the Reserve Bank of Zimbabwe (RBZ) is a master stroke that cou...Published: 13 hrs ago | 1588 | by Staff reporter
'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 | 3057 | by Staff reporter
Biti tells Guvamatanga to 'shut up'
FORMER finance minister, Tendai Biti, has told off current treasury permanent secretary, George Guvamatanga, after he claimed civil servants are better paid now that they were during the government of...Published: 28 Jun 2022 at 07:32hrs | 3906 | by Staff reporter
CCC dismisses new Zimbabwe economy measures; says Chamisa-led govt only solution
Minister Mthuli Ncube (on Monday) announced measures that are meant to curb hyperinflation and stabilize (prices) as well as address the remuneration crisis in the civil service. The Reserve Bank also...Published: 28 Jun 2022 at 07:29hrs | 1340 | by Fadzayi Mahere
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
'To hell with your fire tenders,' councils tell July Moyo
Local authorities in the province have rejected the directive from central government where each council has been ordered to pay for a fire tender to a certain supplier using devolution funds at a ver...Published: 26 Jun 2022 at 10:40hrs | 953 | by Staff reporter
BCC to offer discount for forex payments
Bulawayo councillors have proposed to offer residents that are willing to settle their bills in foreign currency a 50 percent discount.This follows a public outcry after the local authority, a...Published: 26 Jun 2022 at 08:15hrs | 274 | by Staff reporter
Zimbabwe govt incentives behind record gold deliveries, says Sakupwanya
ZIMBABWE'S biggest gold buyer Better Brands Jewellery (BBJ), owned by local gold baron Pedzisayi "Scott" Sakupwanya, says the government's current bullion incentives will see record deliveries to the ...Published: 25 Jun 2022 at 19:05hrs | 187 | by Staff reporter
Cement producer expansion partly funded by the RBZ auction
LAFARGE Cement Zimbabwe (LACZ) says it secured part of its funding from the Reserve Bank of Zimbabwe (RBZ) foreign exchange auction to support an expansion drive amid indications that the firm will so...Published: 25 Jun 2022 at 09:52hrs | 236 | by Staff reporter
Zimbabwe millers push to sell bread in US$ only
MILLERS are reportedly pushing for permission to sell bread exclusively in United States dollars days after they met the Reserve Bank of Zimbabwe (RBZ) over the pricing of the product.After th...Published: 25 Jun 2022 at 08:35hrs | 157 | by Staff reporter
Zimbabwe sinks deeper into debt hole
THE government last year added US$6,45 billion to the public debt as the Treasury assumed the former white farmer's compensation fund under domestic debt and the Reserve Bank of Zimbabwe (RBZ) legacy ...Published: 24 Jun 2022 at 08:56hrs | 726 | by Staff reporter
Parly probes companies refusing local currency
PARLIAMENT will soon institute urgent investigations into manufacturers and wholesalers that are not accepting local currency as a means of payment for basic commodities despite obtaining foreign curr...Published: 22 Jun 2022 at 06:40hrs | 238 | by Staff reporter
Zanu-PF supporters corner ministers, RBZ over failure
Zanu-PF supporters have strongly warned the party of impending electoral defeat in the 2023 general election and accused some of President Emmerson Mnangagwa's deployees in government, particularly Fi...Published: 21 Jun 2022 at 15:24hrs | 974 | 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
RBZ clears foreign currency auction backlog
THE backlog at the foreign currency auction run by the Reserve Bank of Zimbabwe has now been cleared with all allotments made by the end of last month now fully funded and all successful bidders since...Published: 21 Jun 2022 at 06:36hrs | 152 | 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
Wadyajena harrases Musarara over grain transportation deal
Controversial GOKWE Nembudziya legislator, Justice Mayor Wadyajena, is up in arms with businessman, Tafadzwa Musarara, after he allegedly kicked him out of a grain and inputs transportation deal....Published: 19 Jun 2022 at 19:59hrs | 518 | by Shelton Muchena
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
'Wadyajena pushed business interests through Parly'
THE Grain Millers Association of Zimbabwe (GMAZ) has accused Parliamentary Portfolio Committee on Lands and Agriculture chairperson Justice Mayor Wadyajena of abusing his position to grab its grain an...Published: 18 Jun 2022 at 07:30hrs | 723 | 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
RBZ issues statement on commercial bank loans
The Reserve Bank of Zimbabwe (RBZ) issued a statement on the outcome of investigation of the abuse of commercial bank loan facilities by certain business ...Published: 18 Jun 2022 at 06:43hrs | 4624 | by Tarisai Mudahondo
Mugabe's dairy estates collapses
GUSHUNGO Dairy Estates has closed shop after former first lady Grace Mugabe sold about 700 dairy cows worth about US$1,4 million to a prominent butcher, rendering about 120 workers jobless.The...Published: 17 Jun 2022 at 09:04hrs | 36954 | by Staff reporter
Pay half salaries in US$: 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
Zamco winds up operations
THE Zimbabwe Asset Management Company (Zamco) is winding up operations after it paid off, last year, the $1,2 billion it received from the Government to acquire Non-Performing Loans (NPLs).Zam...Published: 17 Jun 2022 at 08:14hrs | 35 | by Staff reporter
Zimbabwean illegal miners wreak havoc in Botswana, SA
To the residents of Matsiloje in northern Botswana, no foreigner is unwelcome unless they commit a crime.This is due to their own lives being deeply linked with their fellow clan members in Zi...Published: 12 Jun 2022 at 09:24hrs | 1643 | 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
12 Zimbabwe banks fined for sabotage
AT least 12 banks were penalised for financial indiscipline during a recent crackdown embarked upon by the Government when it temporarily stopped them from lending money to the public, President Mnang...Published: 11 Jun 2022 at 09:07hrs | 343 | by Staff reporter
Gwanda mine raises US$8 million from Victoria Falls bourse
WITH only six months after officially listing on the Victoria Falls Stock Exchange (VFEX), Jersey domiciled gold producer, Caledonia Mining Corporation, which operates Blanket Mine in Gwanda, says the...Published: 09 Jun 2022 at 06:37hrs | 254 | 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
Zimbabwe gold output jumps 86,3%
ZIMBABWE'S total gold output for the first five months of the year spiked by 86,3 percent to 13,171,58kg compared to 7,068,85kg in the corresponding period in 2021, official data show.Accordin...Published: 08 Jun 2022 at 08:57hrs | 194 | by Staff reporter
Currency Crimes: Four banks to face the music
FOUR banks have been placed under intense scrutiny and will face stiff penalties from the Financial Intelligence Unit (FIU) over allegations of involvement in illicit financial crimes that have led to...Published: 08 Jun 2022 at 07:29hrs | 4989 | by Staff Reporter
Monetary policy inconsistency sinking economy
On the 17th of May 2022, the Reserve Bank of Zimbabwe (RBZ) issued a circular cancelling the order announced by the head of state on the suspension of bank lending one week earlier. The head of state ...Published: 08 Jun 2022 at 07:19hrs | 410 | by Victor Bhoroma
4 Zimbabwe banks to face currency crimes charges
FOUR banks have been placed under intense scrutiny and will face stiff penalties from the Financial Intelligence Unit (FIU) on allegations of involvement in illicit financial crimes that have led to t...Published: 05 Jun 2022 at 09:08hrs | 1406 | 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
Zimdollar tanks to $308,5 against USD at forex auction
THE Zimbabwean dollar further weakened against the United States dollar at the weekly forex auction system on Tuesday where it traded at $308,5 to the green back.Last week the local curr...Published: 02 Jun 2022 at 06:43hrs | 265 | by Staff reporter
Nedbank in Public Relations panic over Mutsvangwa's $600 000 dispute
Nedbank Zimbabwe found itself in an awkward Public Relations position as they invited Information Minister Monica Mutsvangwa to officiate at a dinner hosted for South African Television mogul Connie F...Published: 01 Jun 2022 at 09:32hrs | 9341 | by Mandla Ndlovu
IMF warns against Zimbabwe war veterans compensation
THE International Monetary Fund (IMF) has warned that the government's decision to compensate war veterans could have a major strain on the country's debt overhang.This comes after the governm...Published: 27 May 2022 at 20:17hrs | 2225 | by Staff reporter
Civil servants plot massive demonstration against poor wages
CIVIL servants under the Zimbabwe Confederation of Public Sector Trade Unions (ZCPSTU) are this Friday set to march against government's continued reluctance to pay them in US dollars.Worries ...Published: 26 May 2022 at 06:29hrs | 2528 | by Staff reporter
ZANU PF MPs want 2023 elections postponed
With the party popularity nosediving from 51% in 2018 down to below 30% at present due to poverty, unemployment and poor economic policies, ZANU PF Members of Parliament (MPs) are sensing danger and w...Published: 25 May 2022 at 10:26hrs | 4641 | by John Mbizvo
Zimbabweans told to brace for more price hikes
CONSUMERS should brace for more basic commodity price hikes as inflation continues to rise and the foreign currency exchange auction system falters, economists warned yesterday.Last week, fore...Published: 25 May 2022 at 06:36hrs | 511 | by Staff reporter
RBZ mops up ZW$31,6 billion in four months
THE Reserve Bank of Zimbabwe (RBZ) managed to mop up excess liquidity amounting to ZW$31,6 billion in the last four months of 2021 as the monetary authority upped the gear towards preserving the local...Published: 24 May 2022 at 07:26hrs | 4146 | 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
ZANU-PF MPs want 2023 elections postponed
With the party popularity nosediving from 51% in 2018 down to below 30% at present due to poverty, unemployment and poor economic policies, ZANU PF Members of Parliament (MPs) are sensing danger and w...Published: 21 May 2022 at 16:05hrs | 457 | by John Mbizvo, Political Analyst
Is it just naivety or simply greed driving POLAD to believe sitting around table with corrupt power-greedy regime will yield res
A few years ago, a dear cousin of mine - who worked quite closely with the then president Robert Gabriel Mugabe, especially in the health sector (having held top positions in both government, and the ...Published: 20 May 2022 at 10:23hrs | 1362 | by Tendai Ruben Mbofana
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