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RBZ speaks on Mthuli Ncube, Mangudya fight
The Reserve Bank of Zimbabwe has called upon Zimbabweans to reject reports that there was an angry exchange of words between Finance Minister Professor Mthuli Ncube and and RBZ Governor John Panonetsa...Published: 15 Feb 2019 at 17:16hrs | 16815 | by Mandla Ndlovu
Mangudya walks out of meeting with Mthuli Ncube
THERE was high drama after Reserve Bank of Zimbabwe (RBZ) governor John Mangudya, in a fit of rage, tossed paper files at Finance minister Mthuli Ncube and walked out of a meeting, angrily slamming th...Published: 15 Feb 2019 at 15:37hrs | 17394 | by Staff reporter
Calls for Zimbabwe to join Rand Monetary Union grow
Zimbabwe must seriously look into the possibility of joining the Rand Monetary Union as the central bank mulls introducing a fresh monetary policy tool to alleviate foreign currency shortages, the hea...Published: 15 Feb 2019 at 14:44hrs | 2921 | by Staff reporter
Banks plunge into fresh crisis
THE Reserve Bank of Zimbabwe (RBZ) shot down an urgent request by commercial banks to raise interest rates and transaction charges at a crisis meeting held in Harare last week, arguing the move would ...Published: 15 Feb 2019 at 14:35hrs | 2699 | by Staff reporter
RioZim resumes operations
Zimbabwe listed and diversified miner, RioZim has resumed operations at its three gold mines that had it voluntarily shut down earlier this month after failing to access foreign currency from bul...Published: 15 Feb 2019 at 09:28hrs | 739 | by Ndou Paul
Ncube, Mangudya policy tussle on monetary policy statement
POLICY efficacy doubts - both fiscal and monetary - in supporting a liberalised foreign currency market, effectively discarding the 1:1 US dollar-bond note/RTGS dollar peg, have arguably been the main...Published: 15 Feb 2019 at 08:27hrs | 481 | by Brett Chulu
Beer prices go up with immediate effect
Delta Corporation has announced that effective 14 February 2019 beer price will be sold in United States Dollars.375ml of Brown bottles will be going for USD$1.50 while 340ml of Green bottles ...Published: 14 Feb 2019 at 18:58hrs | 11267 | by Mandla Ndlovu
Mthuli Ncube, Mangudya in bitter fight over new Zimdollar
PRESIDENT Emmerson Mnangagwa has been forced to intervene in a growing turf war between Reserve Bank of Zimbabwe governor John Mangudya and his boss Finance minister Mthuli Ncube on the path Zimbabwe ...Published: 14 Feb 2019 at 15:51hrs | 18884 | by Staff reporter
Floating of bond notes not a solution
Floating of the bond notes is not in itself the solution to the challenges currently bedevilling the Zimbabwean economy, but rather proper financial management fundamentals must be put in place as a w...Published: 14 Feb 2019 at 08:58hrs | 3462 | by Staff reporter
Western Union fails to dispense cash
Western Union Co is failing to dispense cash from money transfers within Zimbabwe amid a worsening shortage of US dollars. The world's largest money transfer company declined to comment, refer...Published: 13 Feb 2019 at 09:15hrs | 3948 | by Staff reporter
RBZ dismisses fake news on new currency
The Reserve Bank of Zimbabwe (RBZ) has dismissed social media claims that a new currency will be introduced next week.In a statement, the RBZ urged members of the public to dismiss, with utmos...Published: 12 Feb 2019 at 10:34hrs | 2207 | by Staff reporter
Mthuli Ncube shoots down Biti's fear mongering attempt
FORMER Finance minister Tendai Biti yesterday sensationally claimed that government was planning to reintroduce a local currency this week, describing the purported move as "pure undiluted insanity"....Published: 12 Feb 2019 at 07:32hrs | 973 | by Staff reporter
Zimbabwe fuel consumption rises 650%?
Daily consumption of both diesel and petrol in Zimbabwe rose by 342 percent and 650 percent respectively between April and October 2018, putting Government under huge pressure to provide adequate fore...Published: 12 Feb 2019 at 07:24hrs | 590 | by Staff reporter
Government speaks on new Zim currency
The Deputy Minister of Information, Publicity and Broadcasting Services Energy Mutodi has poured cold water on revelations by former Minister of Finance Tendai Biti that Zimabbwe would be introducing ...Published: 11 Feb 2019 at 12:00hrs | 20937 | by Mandla Ndlovu
RioZim halts operations again as RBZ defaults on forex payment
One of the country's leading gold producers, RioZim, has yet again stopped operations at three of its mines - Cam and Motor, Dalny and Renco - citing non-payment by the Reserve Bank of Zimbabwe (RBZ) ...Published: 10 Feb 2019 at 06:16hrs | 289 | by Staff reporter
Mnangagwa secures $500million in lines of credit
PRESIDENT Emmerson Mnangagwa yesterday met the Eastern and Southern African Trade and Development Bank (TDB) president Admassu Tadesse, and the financial institution made a commitment to arrange lines...Published: 10 Feb 2019 at 05:51hrs | 733 | by Staff reporter
$19,5 million for looted businesses
GOVERNMENT will avail $19,5 million from a special fund set up to assist businesses that were looted and destroyed during last month's violent protests, a Cabinet Minister has said. Finance an...Published: 09 Feb 2019 at 07:05hrs | 326 | by Staff reporter
Mangudya expected to tackle fiscal rot
CENTRAL bank chief John Mangudya will have to make bold monetary policy decisions or risk the country sliding back into hyperinflation, analysts say.Mangudya, who is yet to present his much-an...Published: 08 Feb 2019 at 08:51hrs | 1743 | by Staff reporter
Mangudya in monetary policy fix
DISCORD between Reserve Bank of Zimbabwe (RBZ) governor John Mangudya and Finance minister Mthuli Ncube over policy issues around currency reforms has delayed the presentation of the monetary policy s...Published: 08 Feb 2019 at 08:48hrs | 3976 | by Staff reporter
RBZ pays for 24 months' fuel
The Reserve Bank of Zimbabwe (RBZ) has paid for fuel supplies enough to cover the next two years, so there is no need for the public to panic, a Cabinet Minister revealed yesterday. Speaking in the Se...Published: 08 Feb 2019 at 08:32hrs | 283 | by Staff reporter
All eyes on Mangudya
RESERVE Bank of Zimbabwe chief John Mangudya is expected to present his monetary policy statement soon.No official explanation has been proffered for what appears to be an inordinate delay in ...Published: 08 Feb 2019 at 08:31hrs | 2311 | by Staff reporter
Return of the Zimdollar?
THE Reserve Bank of Zimbabwe (RBZ) governor John Mangudya is due to release the monetary policy and the policy position is highly anticipated against the sustained monetary related macro-economic defi...Published: 07 Feb 2019 at 15:00hrs | 7225 | by Respect Gwenzi
Afreximbank avails $255m letters of credit to Zimbabwe
The African Export Import Bank (Afreximbank) has availed US$255m letters of credit to Zimbabwe for fuel imports and the production of basic commodities in a bid to ensure adequate input supplies to th...Published: 07 Feb 2019 at 08:06hrs | 1766 | by Staff reporter
How not to win hearts and minds
In a country that is used to turmoil, the month of January will go down as a period when we literally shot ourselves in the foot.The 2017 November coup brought to a close 38 years of dic...Published: 06 Feb 2019 at 08:33hrs | 1684 | by Eddie Cross
Mnangagwa government dogged by mistrust
A cloud of mistrust has reportedly engulfed President Emmerson Mnangagwa's government as emerging details allege that some ZANU PF members participated in the protests that turned violent to sab...Published: 04 Feb 2019 at 15:42hrs | 6276 | by Alistair Nyakudya
Is RBZ shifting position?
THE Reserve Bank of Zimbabwe (RBZ) has given its clearest hint to date that the country is slowly re-dollarising after upgrading the Real Time Gross Settlement (RTGS) platform to include the United St...Published: 04 Feb 2019 at 15:09hrs | 9982 | by Pauline Hurungudo
AB InBev gives Delta breathing space
Delta Corporation's anchor shareholder, AB InBev, will place over $120 million in unremitted dividends and fees in Reserve Bank of Zimbabwe (RBZ) savings bonds thereby reducing pressure on the demand ...Published: 01 Feb 2019 at 15:22hrs | 2759 | by Staff reporter
Zimbabwe banks plunge deeper into forex crisis
A vendor counts money at a vegetable street market in Caracas, Venezuela, on Wednesday, Aug. 17, 2016. Venezuela's imports from its six biggest trading partners including Brazil, the U.S., China, Arge...Published: 01 Feb 2019 at 14:06hrs | 1282 | by Staff reporter
Mangudya to present monetary statement
The governor of the RBZ, John Mangudya whose first term of office ends this April is expected to present his Monetary Policy Statement (MPS) against the backdrop of rising inflation a curremcy dilemma...Published: 31 Jan 2019 at 10:20hrs | 7509 | by Staff reporter
Zimbabwe commercial bank deposits surge 25% to $8 billion
Commercial banks deposits rose by 25% to $8 billion in the first 10 months of last year, data from the central bank has shown.According to the Reserve Bank of Zimbabwe (RBZ)'s monthly review o...Published: 30 Jan 2019 at 08:05hrs | 1027 | by Staff reporter
Zimbabwe faces total internet blackout
State owned converged telecommunication operator TelOne, is now under duress as it owes 22 companies from Africa, Asia and Europe a combined $22 million against its Internet Access Providers, who are ...Published: 29 Jan 2019 at 09:23hrs | 22455 | by Staff reporter
Zimbabwe's central bank to allow US dollar trading
Zimbabwe's central bank says it has upgraded its RTGS platform to allow the settlement of transactions in dollars and trading will go live on February 1.Trading is currently in test mode, it s...Published: 29 Jan 2019 at 08:23hrs | 3031 | by Bloomberg news
RBZ incorporates US$ on RTGS platform
THE Reserve Bank of Zimbabwe (RBZ) has upgraded the Real Time Gross Settlement (RTGS) platform to include the United States dollar as the institution seeks to facilitate payments of the greenback Nost...Published: 29 Jan 2019 at 07:54hrs | 1510 | by Staff reporter
Introduction of new currency needs strong back facility and increase in production levels
School of thought Introducing our own currency is a good idea but ill-timed and a misplaced and misguided priority. The focus for now should be increase...Published: 28 Jan 2019 at 20:54hrs | 2391 | by Tinashe Eric Muzamhindo
Can currency reforms save the Zimbabwean economy?
There is no doubt that the unresolved currency issue lies at the heart of Zimbabwe's economic meltdown in the past 3 years and the price distortions in the local market. The origins of the currency cr...Published: 28 Jan 2019 at 16:46hrs | 1512 | by Victor Bhoroma
Zimbabwe fuel queues ease after prices rise
Long fuel queues were once among the most common sights on Zimbabwe's busy streets, but the snaking lines of cars waiting to refuel have disappeared in the past week following a 150 percent price hike...Published: 28 Jan 2019 at 15:35hrs | 1589 | by Staff reporter
'Zimbabwe fuel import bill normalises'
The Reserve Bank of Zimbabwe Governor Dr John Mangudya has assured all fuel companies that a sustainable foreign currency facility has been put in place to ensure that petrol and diesel will be readil...Published: 28 Jan 2019 at 11:50hrs | 4796 | by Staff reporter
'Govt subsidies for private players not sustainable'
Government has been warned against clandestine price controls being effected through its stranglehold on foreign currency allocation.Economic analysts said there were companies that were being...Published: 27 Jan 2019 at 19:18hrs | 1346 | by Staff reporter
'Float or demonetise bond notes,' says experts
RESERVE Bank of Zimbabwe (RBZ) governor John Mangudya is this week expected to present the monetary policy statement amid calls that he should address the deep-seated currency challenges which are aff...Published: 27 Jan 2019 at 19:18hrs | 9908 | by Staff reporter
RBZ boss' bail conditions relaxed
Reserve Bank of Zimbabwe (RBZ) financial intelligence unit director Mirirai Chiremba's bail conditions have been relaxed. Chiremba stands accused of criminal abuse of office after he all...Published: 26 Jan 2019 at 17:15hrs | 741 | by Staff reporter
Re-introducing local currency, not so fast
THE government recently pledged to re-introduce a local currency to replace the current multi-currency regime within 12 months in its efforts to address a mounting economic crisis.Making the a...Published: 25 Jan 2019 at 14:31hrs | 860 | by Tinashe Kaduwo
Foreign drug manufacturers cut off supplies to Zimbabwe
THE pharmaceutical sector in Zimbabwe owes foreign suppliers more than $39 million for imported raw materials as well as finished products, resulting in supplies to the southern African country being ...Published: 25 Jan 2019 at 08:17hrs | 845 | by Staff reporter
Lack of truthful dialogue is hurting Mthuli Ncube
At any pivotal societal inflection point, wise nations have sought out to have structures of a Truth and Reconciliation Commission. Cases of these are as broadly traceable to South America, North Afri...Published: 24 Jan 2019 at 08:09hrs | 5554 | by Chris Chenga
Bond notes discontinuation claim rubbished
The Reserve Bank of Zimbabwe (RBZ) has dismissed an article circulating on social media on the discontinuation of the use of bond notes.In a statement to the ZBC News, RBZ Governor, Dr John Ma...Published: 22 Jan 2019 at 19:39hrs | 4840 | by Staff reporter
'Forex shortages threaten gold production'
THE country's gold sector is in a precarious situation after it emerged that the Reserve Bank of Zimbabwe (RBZ) has not been paying primary gold producers for the last three months, NewsDay has establ...Published: 22 Jan 2019 at 08:51hrs | 255 | by Staff reporter
Can currency reforms save the Zimbabwean economy?
There is no doubt that the unresolved currency issue lies at the heart of Zimbabwe’s economic meltdown in the past 3 years and the price distortions in the local market. The origins of the currency ...Published: 21 Jan 2019 at 14:11hrs | 3458 | by Victor Bhoroma
Zimbabwe seeks more fuel sources
Energy and Power Development Minister Dr Joram Gumbo has engaged a top petroleum products player, Fleet Energy (Pvt) Limited, as Government moves to locate lasting solutions to fuel shortages dogging ...Published: 21 Jan 2019 at 08:21hrs | 450 | by Staff reportere
Service station besieged for refusing to sell fuel
A fuel station owner in Gweru had to scurry for cover as motorists were baying for his blood for refusing to sell fuel barely an hour after a tanker offloaded at his filling station. In an inc...Published: 21 Jan 2019 at 08:15hrs | 695 | by Staff reporter
Mnangagwa's minister distances self from fuel crisis
Energy and Power Development minister Joram Gumbo yesterday said his ministry was doing its part bringing plenty of fuel into the country but government, through the Finance ministry, was failing to b...Published: 20 Jan 2019 at 09:45hrs | 1599 | by Staff reporter
Chamisa's costly lie
The biggest lie last week was that the violence in urban areas were protests over fuel prices in particular and living costs in general, when in fact the protests were enforced by a small bullying min...Published: 20 Jan 2019 at 09:30hrs | 4321 | by Staff reporter
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