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Kupukile Mlambo appointed chief executive of the Sovereign Wealth Fund of Zimbabwe
Former Reserve Bank of Zimbabwe deputy governor Kupukile Mlambo, who holds a PhD in economics from Gothenburg University in Sweden, has been appointed chief executive of the US$100m Sovereign Wealth F...Published: 24 hrs ago | 763 | by Staff reporter
Mnangagwa accused of taking Zimbabwe back to medieval era
PRESIDENT Emmerson Mnangagwa's Statutory Instrument (SI) 189 of 2022, announced on November 4 to legalise payment of miners' royalties partly in kind has been described as not just being illegal but a...Published: 06 Dec 2022 at 05:11hrs | 3224 | by Staff reporter
RBZ recues HCC on water crisis
THE Reserve Bank of Zimbabwe (RBZ) has agreed to rescue the Harare City Council (HCC) by providing it with foreign currency to buy water treatment chemicals to improve potable water supply in the capi...Published: 06 Dec 2022 at 05:06hrs | 230 | by Staff reporter
Reserve Bank of Zimbabwe bullish on inflation
THE Reserve Bank of Zimbabwe (RBZ) yesterday remained bullish that month-on-month inflation will remain stable below 3% throughout next year, despite indications last week that the country will use de...Published: 06 Dec 2022 at 05:03hrs | 198 | by Staff reporter
Reserve Bank of Zimbabwe keeps bank rate at 200%
THE Reserve Bank of Zimbabwe (RBZ) has kept its bank policy rate at 200 percent after its Monetary Policy Committee (MPC) expressed satisfaction with how the current tight monetary policy stance has h...Published: 06 Dec 2022 at 04:58hrs | 140 | by Staff reporter
Zimbabwe now one of the fastest growing African economies
ANALYSING Zimbabwe's unconventional economy always proves somewhat cumbersome because it is a country bridled with policy inconsistency, unfavourable operating conditions buoyed by decades of unilater...Published: 02 Dec 2022 at 19:32hrs | 1228 | by Respect Gwenzi
Chamisa, Mnangagwa MPs jostle for US$40,000 housing loan
PARLIAMENTARIANS are legally bound to service the recently extended US$40 000 residential stands loans at an interest rate of 5% for the next five years.Some MPs have offered vehicles as colla...Published: 02 Dec 2022 at 19:31hrs | 391 | by Staff rteporter
RBZ in gems mop up deal
THE government has structured a deal that will see the Reserve Bank of Zimbabwe (RBZ) buying excess diamonds as it moves to shut out unscrupulous dealers that have been dribbling authorities....Published: 02 Dec 2022 at 19:30hrs | 240 | by Staff rteporter
Zimbabwe govt pays US$50,28m to service external debt
TREASURY paid out US$50,28 million between January and September this year towards servicing its active debt portfolio while token payments were also made for debt arrears owed to International Financ...Published: 29 Nov 2022 at 05:15hrs | 224 | by Staff reporter
Civil servants get lion's share
SALARIES for civil servants are set to go up markedly after the Government allocated the biggest chunk of the 2023 National Budget towards the public sector wage bill to cushion workers from the negat...Published: 25 Nov 2022 at 05:05hrs | 510 | by Staff reporter
Norsad Capital provides CABS Zimbabwe with a Medium-term Credit facility of USD10 million
Norsad Capital, an impact investor, and private creditor provider, offering tailor-made debt solutions to mid-market growth companies in Sub-Saharan Africa, has provided Central Africa Building Societ...Published: 21 Nov 2022 at 09:51hrs | 803 | by Agencies
'Small gold coins will further anchor stability'
The introduction of small gold coins last week is expected to further stabilise the exchange rate, Reserve Bank of Zimbabwe (RBZ) governor Dr John Mangudya has said.Large-denomination bullion ...Published: 20 Nov 2022 at 15:34hrs | 85 | by Staff reporter
Smaller gold coins trading begins
THE Reserve Bank of Zimbabwe (RBZ) yesterday opened doors for members of the public to walk into any local bank and registered agencies to purchase smaller units of Mosi-oa-Tunya gold coins as an alte...Published: 16 Nov 2022 at 05:13hrs | 630 | by Staff reporter
'Harare roads unsafe'
HARARE Metropolitan provincial secretary Tafadzwa Muguti has said the capital city's roads are no longer safe to drive on.Speaking during a tour of Satewave Technologies premises in Chisipite ...Published: 15 Nov 2022 at 04:53hrs | 1137 | by Staff reporter
RBZ allocates US$3 billion to businesses
THE Reserve Bank of Zimbabwe says US$3 billion has been allotted to businesses through the RBZ forex auction since its inception in 2020.In a statement yesterday, RBZ Governor, John Mangudya s...Published: 11 Nov 2022 at 05:15hrs | 244 | by Staff reporter
RBZ conducts digital currency survey
THE Reserve Bank of Zimbabwe (RBZ) has stepped up plans to create Zimbabwe's own Central Bank Digital Currency (CBDC) on a phased approach by carrying-out consumer perception surveys.The bank'...Published: 11 Nov 2022 at 05:04hrs | 190 | by Staff reporter
Zimbabwe starts disbursement of 4 500 small gold coins
THE Reserve Bank of Zimbabwe (RBZ) will tomorrow start disbursing 4 500 smaller units of Zimbabwe's Mosi-oa-Tunya gold coins to banks ahead of planned release of the bullion coins in the market on Tue...Published: 10 Nov 2022 at 04:54hrs | 411 | by Staff reporter
New Zupco fares trigger outcry
THE Zimbabwe United Passengers Company (Zupco) has triggered an outcry after raising intra-city charges to $800, which it also says would be equal to one United States dollar.While the officia...Published: 07 Nov 2022 at 05:31hrs | 1568 | by Staff reporter
RBZ in dramatic U-turn on Fidelity privatisation
IN a dramatic policy U-turn, the Reserve Bank of Zimbabwe (RBZ) has indefinitely suspended its plans to partially privatise Fidelity Printers and Refiners (FPR) nearly two years after announcing inten...Published: 04 Nov 2022 at 05:32hrs | 887 | by Staff reporter
Zimbabwe exporters object to latest forex electricity tariff
THE Confederation of Zimbabwe Industries (CZI) has requested an urgent electricity tariff meeting between exporters, energy bodies and the Government to clarify several operational issues emanating fr...Published: 28 Oct 2022 at 06:23hrs | 184 | by Staff reporter
Zanu-PF leans on parastatals to fund congress
THE ruling Zanu-PF party has reportedly ordered struggling State-owned parastatals to sponsor its congress this week by buying exhibition space that cost between US$3 000 and US$6 000.State en...Published: 24 Oct 2022 at 06:14hrs | 591 | by Staff reporter
RBZ projects 50% annual inflation rate by year end
A total of 10 400 gold coins have been sold to date, with companies dominating the buyers list in a development which has gone a long way in mopping up excess liquidity, Reserve Bank of Zimbabwe (RBZ)...Published: 22 Oct 2022 at 05:43hrs | 524 | by Staff reporter
Zimbabwe banking sector risks crippling strike over US$ salary portions
PLANS for a crippling strike are hovering above the country's banking sector following the recent denial by the employers' side to honour partial payment of US$ salaries, Zimbabwe Banks and Allied Wor...Published: 20 Oct 2022 at 06:01hrs | 706 | by Staff reporter
RBZ tells Time Bank to reopen 'but don't take deposits'
TIME Bank, one of a dozen domestic financial institutions that collapsed at the height of Zimbabwe's banking crisis between 2004 and 2008, was yesterday given the nod to re-enter the market under rest...Published: 19 Oct 2022 at 06:01hrs | 561 | by Staff reporter
Zimbabwe will keep world's highest interest rates into 2023
Zimbabwe will keep the world's highest benchmark interest rate of 200% into next year as it prioritises economic stability ahead of high growth rates, Finance Minister Mthuli Ncube said."I thi...Published: 17 Oct 2022 at 20:21hrs | 258 | by Staff reporter
World Bank commends Mthuli Ncube's bold economic reforms
GLOBAL financier, the World Bank (WB) has heaped praise on Zimbabwe for continuously implementing bold economic reforms more recently saying the initiatives had positioned the economy for a sound perf...Published: 16 Oct 2022 at 19:23hrs | 490 | by Staff reporter
Shiri estate in fresh storm
THE late Agriculture minister Air Marshal Perrance Shiri's children have dragged the family's executor, former Attorney General Sobuza Gula-Ndebele, to court to force him to release money held in the ...Published: 14 Oct 2022 at 05:52hrs | 869 | by Staff reporter
Matshe named deputy governor of the RBZ
Economist Innocent Matshe was on Thursday named deputy governor of the Reserve Bank of Zimbabwe, with effect from October 1.Matshe takes over from Kupukile Mlambo, whose term expired in June a...Published: 13 Oct 2022 at 20:08hrs | 1055 | by Staff reporter
Before celebrating 'flowers' Zimbabweans should first interrogate why previous 'fruits' were destroyed!
I love our language and culture - since they teach us so much about life.There is a wise adage - 'totenda maruva tadya chakata', in oth...Published: 13 Oct 2022 at 00:23hrs | 339 | by Tendai Ruben Mbofana
Zimbabwe gold coins mopped up $10bn
GOVERNMENT says gold coins introduced in July this year have mopped up close to $10 billion from the parallel market.This comes as President Emmerson Mnangagwa claimed that Zimbabweans have an...Published: 11 Oct 2022 at 06:07hrs | 761 | by Staff reporter
Former senior cop in murder storm
AN inquest is set to be held for a woman who was allegedly poisoned to death in a fight over inheritance in which a former Assistant Commissioner in the Zimbabwe Republic Police (ZRP), Mrs Marian Tige...Published: 10 Oct 2022 at 13:58hrs | 3773 | by Simbarashe Sithole
If Mnangagwa is unable to explain 'sanctions on Zimbabwe' then just how real are they?
Did you know that countries that have genuine economic sanctions imposed on them by world powers, oftentimes, actually deny their true impact on the affected nation's economy?Why?Simpl...Published: 10 Oct 2022 at 06:12hrs | 577 | by Tendai Mbofana
If Mnangagwa unable to explain 'sanctions on Zimbabwe' then just how real are they?
Did you know that countries that have genuine economic sanctions imposed on them by world powers, oftentimes, actually deny their true impact on the affected nation's economy?Why? Simp...Published: 09 Oct 2022 at 20:54hrs | 491 | by Tendai Ruben Mbofana
Mining companies in Zimbabwe to pay royalties in the form of minerals
MINING companies in Zimbabwe will now pay royalties to the government in the form of minerals as a percentage of the mined resources effective October 1, President Emmerson Mnangagwa has said....Published: 09 Oct 2022 at 11:02hrs | 914 | by Staff reporter
Zimbabwe govt mulls national minerals reserve
Mining companies exploiting precious and high-value minerals in the country will now be required to cede a portion of their refined mineral produce to the Government as part payment of royalties under...Published: 09 Oct 2022 at 07:51hrs | 119 | by Staff reporter
Big energy users to import 500MW
Zesa is set to import more power to meet demand from the country's biggest energy consumers — the Intensive Energy Users Group (IEUG) — who require more than 500 megawatts (MW) to run their operat...Published: 09 Oct 2022 at 07:50hrs | 110 | by Staff reporter
Zimdollar notes are disappearing on the streets
October temperatures start to climb early in Harare, but by noon beverages vendor Davis Kugara is already counting his losses for the day.One after the other, many of his potential customers a...Published: 04 Oct 2022 at 22:15hrs | 3672 | by Staff reporter
Mnangagwa's son-in-law captures Trevor Ncube's media group
PRESIDENT Emmerson Mnangagwa's son in-law Gerald Mlotshwa - a prominent lawyer married to the ruling Zanu-PF leader's daughter Farai - has now formally bought a significant equity stake at the private...Published: 02 Oct 2022 at 09:19hrs | 9369 | by Staff reporter
Zimbabwe's foreign currency receipts hit US$7,7 billion mark
ZIMBABWE's foreign currency receipts have reached US$7, 7 billion, thereby marking a significant increase if compared to the same period last year.The development indicates the existence of re...Published: 02 Oct 2022 at 09:02hrs | 106 | by Staff reporter
ZB directors mull liquidation and surrendering licence
With three months left before year-end, it is now crunch time for ZB Financial Holdings (ZBFH), which is currently under increased pressure to recapitalise its building society within the grace period...Published: 02 Oct 2022 at 08:58hrs | 270 | by Staff reporter
Harare mayor climbs down on steep building inspection fees
CITY of Harare has rescinded an earlier resolution to hike building inspection fees, which were unattractive and pushing away investors in infrastructural development.Speaking during a special...Published: 01 Oct 2022 at 20:25hrs | 507 | by Staff reporter
RBZ allows companies to buy up to US$100 000 weekly
THE Reserve Bank of Zimbabwe has moved to allow companies to purchase up to US$100 000 per week from local banks for purposes of undertaking bona fide payments and moved to maintain the current intere...Published: 01 Oct 2022 at 06:15hrs | 446 | by Staff reporter
Chombo's trial date moved to 2023
FORMER Finance minister Ignatius Chombo's trial date on charges of fraud and criminal abuse of office has been moved to April 7 next year pending his Constitutional Court application.Chombo, w...Published: 01 Oct 2022 at 06:13hrs | 158 | by Staff reporter
Zimdollar, US dollar exchange rate cleavage narrows
THE narrowing of the gap between parallel market and official exchange rates from an elevated level of 140 percent in May to current levels of between five percent and 15 percent is a significant move...Published: 29 Sep 2022 at 05:56hrs | 1528 | by Staff reporter
Why ordinary Zimbabweans not particularly thrilled, or may actually be terrified, over possible gas and oil discovery!
The advent of the 'metaverse', or most specifically social media, has created an alternative reality for most people - which, oftentimes, is far divorced from the real physical world that we live in....Published: 28 Sep 2022 at 10:29hrs | 1393 | by Tendai Ruben Mbofana
$9bn gold coins sold as individuals join rush
THE Reserve Bank of Zimbabwe (RBZ) says gold coins worth $9 billion have been sold since July this year, with individuals taking a significant chunk of the bullion, while the Monetary Policy Committee...Published: 28 Sep 2022 at 05:55hrs | 300 | by Staff reporter
Mosi-oa-Tunya gold coins selling like hotcakes
THE Mosi-oa-Tunya gold coins have generated $9 billion from the sale of 9 516 coins with 35 percent having been sold to individuals and 65 percent to corporates, the Reserve Bank of Zimbabwe has said....Published: 27 Sep 2022 at 19:27hrs | 353 | by Staff reporter
Harare City Council resumes US dollar charges
THE Harare City Council (HCC) has reissued its request for United States dollars (US$) payments for on-demand services after it stopped taking foreign currency due to a Reserve Bank of Zimbabwe (RBZ) ...Published: 27 Sep 2022 at 05:53hrs | 493 | by Staff reporter
Zimbabwe inflation tumbles to 3,5%?
ZIMBABWE'S month-on-month inflation rate has drastically dropped to 3,5 percent in September, shedding 8,9 percentage points on the August rate of 12,4 percent as price stability persists across the m...Published: 27 Sep 2022 at 05:52hrs | 513 | by Staff reporter
Zimbabwe central bank raids banks, firms
THE Reserve Bank of Zimbabwe's Exchange Control Division has raided and penalised top banks and firms for violating exchange control regulations with some companies failing to account for United State...Published: 23 Sep 2022 at 19:25hrs | 1499 | by Staff reporter
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