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RBZ bigwigs face arrest
Three Reserve Bank of Zimbabwe (RBZ) officials face arrest after a committee of Parliament yesterday threatened to prefer contempt charges against them. This came after the RBZ deputy governor...Published: 21 hrs ago | 3188 | by Staff reporter
RBZ deputy governor faces contempt of Parliament charges
RESERVE Bank of Zimbabwe deputy governor Khuphukile Mlambo and other senior staffers at the central bank face contempt of Parliament charges after they failed to attend a Public Accounts Committee (Pa...Published: 22 hrs ago | 104 | by Staff reporter
Mangudya's deputy governor faces contempt of Parly charges
RESERVE Bank of Zimbabwe deputy governor Khuphukile Mlambo and other senior staffers at the central bank face contempt of Parliament charges after they failed to attend a Public Accounts Committee (Pa...Published: 22 hrs ago | 93 | by Staff Reporter
Investor activity lowly on the ZSE
Investor sentiment remained muted during the week under review, amid continued worsening economic situation. The Finance, minister Mthuli Ncube of projects Zimbabwe's GDP growth a revised -6,5% in 201...Published: 13 Oct 2019 at 08:14hrs | 154 | by Staff reporter
RBZ's TBs auction hit by low uptake again
A paltry $72 million out of the $150 million Treasury Bills (TBs) auctioned last week was subscribed, an apparent indication the market has no appetite for the sovereign paper.This is the seco...Published: 13 Oct 2019 at 08:14hrs | 626 | by Staff reporter
Mnangagwa's govt re-engages Sakunda
THE government has again roped in controversial oil company, Sakunda Holdings, in the distribution of agricultural inputs to farmers under the Command Agriculture scheme after it poured in $2.8 billio...Published: 13 Oct 2019 at 07:35hrs | 4214 | by newzimbabwe
RBZ clarifies position on forex withdrawals
THE withdrawal of individual free funds remains permissible in hard currency and the funds can be retained in Foreign Currency Accounts (FCA) indefinitely as rules have not changed, the Reserve Bank o...Published: 12 Oct 2019 at 11:27hrs | 1107 | by Staff reporter
This regime must desist from corruption in agriculture
Recent announcements by the government, that it would disburse $2.8 billion for the Command Agriculture and issuing some $300 million in Treasury bills is a serious cause for concern, judging by the m...Published: 11 Oct 2019 at 15:34hrs | | by Rusty Markham
Zimnat resorts to lies and deceit in pursuit of the Diaspora dollar
ZIMNAT LIFE is risking a possible lawsuit in pursuit of the diaspora dollar over data protection breaches and gross misrepresentations to Diaspora Funeral Cash Plan (DFCP) clients of their role in the...Published: 11 Oct 2019 at 15:32hrs | | by Alois Vinga
Mangudya statement on US Dollar salaries
Reserve Bank of Zimbabwe Governor Dr John Panonetsa Mangudya has assured the nation that the foreign currency that is in their accounts shall not be raided by the banks but shall be treated as free fu...Published: 11 Oct 2019 at 14:05hrs | 11358 | by Mandla Ndlovu
Fifth TBs batch on the market
THE Reserve Bank of Zimbabwe (RBZ) yesterday returned to the market with a fifth batch of treasury bills (TBs), seeking to raise ZWL$150 million to finance Government programmes. Last week, RB...Published: 10 Oct 2019 at 07:43hrs | | by Staff reporter
Why big business is a threat to Zimbabwe's revival
ZIMBABWE has entered a new frightening phase, a phase of unbridled capital that has become a State in itself in pursuit of profit and nothing else.This has been compounded by a weak government...Published: 09 Oct 2019 at 08:08hrs | | by Paidamoyo Muzulu
Mthuli Ncube's Budget plans revealed
The 2020 National Budget will focus on job creation, productivity and economic growth and plugging revenue leakages, Finance and Economic Development Minister Professor Mthuli Ncube has said. He outli...Published: 09 Oct 2019 at 07:44hrs | | by Staff reporter
Parly grills BAZ over forex accounts memo
PARLIAMENT yesterday grilled Bankers' Association of Zimbabwe (BAZ) president Webster Rusere over a circular which was recently leaked on social media by one of their members announcing that the Reser...Published: 08 Oct 2019 at 07:44hrs | 392 | by Staff reporter
Nostro accounts safe: RBZ
THE Reserve Bank of Zimbabwe (RBZ) yesterday dismissed social media reports claiming the Central Bank has issued notice of an impending invasion of nostro account balances. In an interview, RB...Published: 08 Oct 2019 at 07:35hrs | | by Staff reporter
RBZ denies banning foreign currency withdrawals
The Reserve Bank of Zimbabwe (RBZ) has dismissed media reports that it would raid foreign currency (Nostro) accounts and prevent Zimbabweans from withdrawing their USD funds.In a statement rel...Published: 07 Oct 2019 at 22:06hrs | | by Staff reporter
RBZ's desperate measures will only worsen the situation
LESS than a week after the Reserve Bank of Zimbabwe (RBZ) unilaterally banned all mobile money cash-in, cash-out and cash-back transactions – before quickly backtracking, the central bank has once a...Published: 07 Oct 2019 at 11:02hrs | 2768 | by Staff reporter
Storm brews over nostro accounts
THE Reserve Bank of Zimbabwe (RBZ)'s decision to tighten regulations on withdrawals of foreign currency by Zimbabweans who earn their salaries in foreign currency faces litigation, while analysts warn...Published: 07 Oct 2019 at 10:34hrs | 3114 | 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 22:28hrs | | by Dr Tapiwa Mashakada
Tough rules for forex account holders
Zimbabweans employed by exporting companies and earn their salaries in foreign currency will now have their money converted into local currency or only withdraw the forex after getting approval from t...Published: 06 Oct 2019 at 16:36hrs | | by Staff reporter
Pensioners to get express cash
THE Government is working with the Reserve Bank of Zimbabwe and banks to ensure that pensioners access cash for their pension payouts.The country has been experiencing cash shortages that have...Published: 06 Oct 2019 at 16:15hrs | 225 | by Staff reporter
Forex salaries now allowed
Employees Salaries Payments in USD - RBZ Terms & ConditionsIn cases where the Exchange Control Unit of the Reserve Bank of Zimbabwe has approved in writing the payment of salaries for a co...Published: 05 Oct 2019 at 22:09hrs | 1384 | by Staff reporter
RBZ integrity called into question
The integrity of the Reserve Bank of Zimbabwe (RBZ) as the regulator of the financial services sector has come under the spotlight as the country battles cash shortages, exchange rate distortions and ...Published: 05 Oct 2019 at 20:52hrs | | by Staff reporter
Jail term for illegal forex dealers gazetted
Trading in any currency, which is not the Zimbabwe dollar, now attracts a fixed $6 000 fine and failure to pay the fine will result in the person involved being jailed. The new rules, gazetted...Published: 05 Oct 2019 at 06:47hrs | | by Staff reporter
Zimbabwe now a truly cashless society
THE monetary system the world over, including in Zimbabwe, over has undergone a sea of change in the past century. From barter trade, a world without money, there have been many other means of exchang...Published: 04 Oct 2019 at 08:52hrs | | by Staff reporter
Zimdollar plunges 135,7%
THE Zimdollar has devalued by 135,7% to $15,25 against the greenback on the interbank market since it was declared the sole legal tender on June 24, owing to persistent foreign currency shortages and ...Published: 04 Oct 2019 at 08:49hrs | | by Staff reporter
Mnangagwa's govt slams Cross over new currency announcement
The government on Thursday failed to deny claims by central bank adviser Eddie Cross that a new currency will come into circulation in November.Cross, recently appointed to a newly-established...Published: 04 Oct 2019 at 08:03hrs | | by ZimLive
Zimbabwe's interbank market needs refinement
Local Industries claim they are yet to realise the benefits of the recently introduced interbank foreign currency market, as they continue to struggle accessing hard currency. The interbank ma...Published: 04 Oct 2019 at 07:59hrs | | by Staff reporter
Zimbabwe waters down new currency speculation
Government has refuted claims that it is introducing a new currency next month as alleged by Mr Eddie Cross in an interview with the Zimbabwe Broadcasting Corporation earlier this week. Econom...Published: 04 Oct 2019 at 07:58hrs | | by Staff reporter
High Court sets EcoCash hearing date
The High Court on Wednesday set Friday as the date when it will hear the case in which the Reserve Bank of Zimbabwe (RBZ) ban on mobile money cash-in and cash-out services is being challenged....Published: 03 Oct 2019 at 20:53hrs | | by Staff reporter
BREAKING: Government dismisses new currency introduction reports
Eddie Cross, a member of the central bank's Monetary Policy Committee had told ZBC that Zimbabwe has been chronically short of paper cash, forcing most transactions onto electronic platforms such as m...Published: 03 Oct 2019 at 18:07hrs | 2502 | by Mandla Ndlovu
$500m TBs auction raises stink
The Zimbabwe government has for the past two months sought to raise $490 million via public Treasury Bills (TBs) auction to finance its activities with analysts warning the cash-strapped Treasury not ...Published: 03 Oct 2019 at 13:38hrs | | by Staff reporter
EcoCash agents breach RBZ ban
EcoCash agents and money changers have resorted to use of send money facility using personal lines to remain in business following the ban on cash-in and cash-out facilities by the Reserve Bank of Zim...Published: 03 Oct 2019 at 08:54hrs | 1372 | by Staff reporter
RBZ floats $300m additional TBs
THE Reserve Bank of Zimbabwe (RBZ) yesterday returned to the market with a fourth batch of treasury bills (TBs), this time seeking to raise ZWL$300 million to finance Government programmes. Th...Published: 03 Oct 2019 at 08:27hrs | | by Staff reporter
$100 limit for cash-out transactions
THE Reserve Bank of Zimbabwe (RBZ) has given the green light for cash-out transactions on mobile money platforms, but capped it at $100 to minimise abuse. This comes after the central bank had banned ...Published: 03 Oct 2019 at 08:15hrs | | by Staff reporter
RBZ to inject more cash
The Reserve Bank of Zimbabwe has capped the Cash-Out amount at any payment system provider and agent at ZWL$100 after putting in place enhanced monitoring mechanisms to mitigate against abuse of...Published: 02 Oct 2019 at 19:16hrs | | by Staff reporter
FULL TEXT: RBZ reverses Ecocash ban
The Reserve Bank of Zimbabwe has reserved has reversed the decision to ban the mobile money transactions.The Central Bank has advised that the cash-out facility is now capped at $100 per trans...Published: 02 Oct 2019 at 17:35hrs | | by Mandla Ndlovu
RBZ caps cash-out at $100 per transaction with immediate effect
PRESS STATEMENT CASH-IN, CASH-OUT AND CASH-BACK FACILITIES 1. The Directive (NPS 01/2019) on cash-in, cash-out and cash-back facilities was issu...Published: 02 Oct 2019 at 16:49hrs | 2008 | by RBZ
Banning EcoCash by RBZ not a good idea
Whilst it is imperative for the government to put in place some safeguard legal provisions or policies to avoid or to police the alleged financial crimes, it is rather unconscionable to the publ...Published: 02 Oct 2019 at 09:44hrs | | by Njabulo
EcoCash threatens complete shutdown
ZIMBABWE Stock Exchange (ZSE)-listed Cassava Smartech Zimbabwe Limited, a subsidiary of Strive Masiyiwa's Econet Wireless, has threatened a complete shutdown of its EcoCash platform if the Reserve Ban...Published: 02 Oct 2019 at 08:41hrs | | by Staff reporter
Mnangagwa rails against 'economic saboteurs'
PRESIDENT Emmerson Mnangagwa yesterday described reports of alleged exchange rate manipulation, which also involved his top ally Kudakwashe Tagwireyi, as acts of economic sabotage, which must not be t...Published: 02 Oct 2019 at 08:37hrs | | by Staff reporter
RBZ pushes for EcoCash discipline
Reserve Bank of Zimbabwe (RBZ) governor Dr John Mangudya has said Econet Wireless must work hand in glove with the central bank to foster market discipline among the telecom operator's errant EcoCash ...Published: 02 Oct 2019 at 07:31hrs | | by Staff reporter
Econet threatens to shutdown EcoCash
Mobile service provider, Econet Zimbabwe, has threatened to completely shutdown its Ecocash platform following the directive by the Reserve Bank of Zimbabwe (RBZ) to ban cash in and cash out fac...Published: 01 Oct 2019 at 16:42hrs | 5325 | by Staff reporter
Econet takes RBZ to court over cash in cash out ban
Cassava Smartech, a unit of Econet Wireless Zimbabwe, has filed an urgent application for a temporary interdict regarding Reserve Bank of Zimbabwe's (RBZ) directive for mobile payment system providers...Published: 01 Oct 2019 at 13:16hrs | 1649 | by Staff reporter
RBZ clamps down on illegal cash deals
THE Reserve Bank of Zimbabwe has banned with immediate effect all cash-in, cash-out and cash-back transactions, which were used by some dealers to extort cash from members of the public. Furth...Published: 01 Oct 2019 at 07:34hrs | | by Staff reporter
Strive Masiyiwa lashes RBZ
Ministers have recently issued threats against Econet's mobile money service, EcoCash, whose agents are accused of charging desperate Zimbabweans looking for cash a massive premium of up to 60 percent...Published: 30 Sep 2019 at 17:56hrs | 9012 | by ZimLive
BREAKING: RBZ bans Ecocash transactions
The Reserve Bank of Zimbabwe has banned the Cash in and Cash out and cash back transactions with immediate effect. In a statement issued on Monday the Reserve Bank of Zimbabwe said people were abu...Published: 30 Sep 2019 at 14:34hrs | 10827 | by Mandla Ndlovu
Can an undervalued currency boost Zim Exports
The Zimbabwean Dollar was re-introduced on the 24th of June 2019 through the gazetting of Statutory Instrument (SI) 142 of 2019. The law outlawed the use and indexing of multiple currencies for local ...Published: 30 Sep 2019 at 12:16hrs | | by Victor Bhoroma
Zimbabwe faces 30 000 tractor deficit
THE Government is working on intensifying its farm mechanisation as it forges ahead to improve agricultural productivity amid revelations the country is faced with a deficit of more than 30 000 tracto...Published: 30 Sep 2019 at 08:19hrs | | by Staff reporter
RBZ third batch of TBs oversubscribed
THE Reserve Bank of Zimbabwe (RBZ) said on Friday it got offers four times more than the $100 million it sought to raise through treasury bills (TBs), signalling high investor appetite in the instrume...Published: 30 Sep 2019 at 07:44hrs | | by Staff repporter
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