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'Air Zimbabwe to relaunch in 2020 with 5 planes'
FINANCE minister Mthuli Ncube says Air Zimbabwe will take off in earnest in 2020, with five planes.Ncube also told the National Assembly that Treasury was also going to assume the airline's to...Published: 13 Dec 2019 at 08:04hrs | 959 | by Staff reporter
Zimbabwe faces a gloomy 2020
IN the three weeks since the 2020 national budget both the economy and Finance Minister Mthuli Ncube's recovery strategy have drifted closer to the rocks. In their stubborn refusal to heed development...Published: 13 Dec 2019 at 07:30hrs | 693 | by Anthony Hawkins
POSB simplifies banking services
THE People's Own Savings Bank (POSB) has started a process to simplify banking services and easing cash shortages for pensioners and clients in rural areas. General Manager banking operations,...Published: 13 Dec 2019 at 07:23hrs | 377 | by Staff reporter
Mnangagwa son-in law appointed into ZimCoke board
PRESIDENT Emmerson Mnangagwa's son-in-law, Gerald Mlotshwa is one of the most powerful individuals who have been appointed to the board of Redcliff based coke making firm, ZimCoke.A lawyer by ...Published: 12 Dec 2019 at 20:11hrs | 2916 | by Staff reporter
Mthuli Ncube's austerity measures pay off
THE state of Government finances remains healthy after revenue collections for the nine months to September 2019 surpassed the target at $11,316 billion against expenditure of $10,449 billion, which r...Published: 11 Dec 2019 at 06:35hrs | 6550 | by Staff reporter
Mthuli Ncube spending within his means
THE state of Government finances remains healthy after revenue collections for the nine months to September 2019 surpassed the target at $11,316 billion against expenditure of $10,449 billion, which r...Published: 11 Dec 2019 at 06:28hrs | 287 | by Staff reporter
Government blows unauthorised USD$ 10 billion
The Minister of Finance Mthuli Ncube is seeking parliament to endorse the unauthorised use of money amounting to about ten billion United States Dollars. In a publicised Financial adjustment b...Published: 10 Dec 2019 at 12:32hrs | 5096 | by Mandla Ndlovu
Zimbabwean law to criminalise redollarisation on the cards
Government will make use of the United States dollar illegal and plans punitive penalties for offenders under a proposed law as it seeks to shore up support for the local currency.Since the re...Published: 10 Dec 2019 at 07:15hrs | 2601 | by Staff reporter
$110m new notes, coins in circulation
So far, $110 million in new notes and coins have been "drip-fed" into the banking system since their introduction last month. While addressing business stakeholders at the Zimbabwe National Ch...Published: 10 Dec 2019 at 06:43hrs | 500 | by Staff reporter
RBZ to reject majority of debts owed to institutions
The Reserve Bank of Zimbabwe's Monetary Policy Committee plans to "reject the majority of debts" owed to institutions, a move it hopes will save the southern African nation much-needed foreign currenc...Published: 09 Dec 2019 at 15:18hrs | 3551 | by Staff reporter
RBZ rejects TBs bids
THE Reserve Bank of Zimbabwe (RBZ) rejected bids submitted for this week's $300 million Treasury Bills (TBs) auction with analysts saying the snub was due to the fact that the central bank could not m...Published: 09 Dec 2019 at 07:17hrs | 1018 | by Staff reporter
RBZ urges IMF to ignore economic crisis
The Reserve Bank of Zimbabwe has asked the International Monetary Fund to overlook the country's shortcomings in achieving fiscal targets and allow a programme to help restore the economy to run its c...Published: 08 Dec 2019 at 11:57hrs | 512 | by Staff reporter
'Our fundamentals are now sound' IMF told - not so with corrupt, rigged elections, game changers
"Zimbabwe's central bank has asked the International Monetary Fund (IMF) to overlook the country's shortcomings in achieving fiscal targets and allow a program to help restore the economy to run...Published: 08 Dec 2019 at 11:20hrs | 285 | by Patrick Guramatunhu
Bleak festive season as Government fails to guarantee fuel supplies
The Zimbabwean government has failed to guarantee citizens of adequate fuel supplies in the festive season in a development set to dampen the festive mood already affected by the country's failing eco...Published: 06 Dec 2019 at 10:25hrs | 1533 | by Staff Reporter
'TBs auction a success'
Finance and Economic Development Minister, Professor Mthuli Ncube said yesterday the Treasury Bills auction system re-introduced mid-this year to mobilise funding for Government operations...Published: 05 Dec 2019 at 06:29hrs | 227 | by Staff reporter
Zimbabwe needs commodities exchange markets
The recent revelations by the Zimbabwean government that the country loses over 30 tonnes of Gold (Worth around US$2 billion) to South Africa and other world markets, through smuggling every year are ...Published: 04 Dec 2019 at 10:14hrs | 787 | by Victor Bhoroma
Introduction of new currency a piecemeal solution
DURING the 2020 national budget presentation in Parliament last month, Finance minister Mthuli Ncube held up a note of the new Zimbabwe dollar and proudly announced that it was tough and resilient....Published: 04 Dec 2019 at 09:20hrs | 1116 | by Staff reporter
Significant decline in cash premiums: RBZ
THE Reserve Bank of Zimbabwe (RBZ) Monetary Policy Committee has said the recent injection of new bank notes and coins into the system has resulted in significant decline in cash premiums. In ...Published: 03 Dec 2019 at 07:18hrs | 1981 | by Staff rpeorter
RBZ tightens monetary policy
The Reserve Bank of Zimbabwe (RBZ) says it will take measures to counter the threat of high and potentially inflationary money supply growth from the 2020 growth-oriented budget by maintaining a stran...Published: 03 Dec 2019 at 07:04hrs | 776 | by Staff reporter
Zimbabwe's current economic meltdown beyond description
I am writing this piece writhing in agony because I see helplessness in our society with a moribund leadership on a broad scale. The current economic meltdown is beyond description especially given th...Published: 01 Dec 2019 at 10:20hrs | 2660 | by JJD Dube
This is how the cash gets onto the black market
The question is, how on this cursed land is money that the Reserve Bank of Zimbabwe (RBZ) is busy printing getting onto the black market in such huge amounts? The answer is, it's taking quite a team â...Published: 01 Dec 2019 at 06:11hrs | 3269 | by Tawanda Majoni
RBZ to roll out interbank e-trading platform
Monetary authorities are looking to enhance the efficiency of the foreign exchange interbank market by introducing a new electronic trading platform.The interbank market was introduced this Fe...Published: 01 Dec 2019 at 05:49hrs | 147 | by Staff rpeorter
Probe rogue RBZ, says Biti
PUBLIC Accounts Committee (PAC) chairperson Tendai Biti yesterday said the Financial Intelligence Unit (FIU) must be removed from being under the Reserve Bank of Zimbabwe (RBZ), alleging that the cent...Published: 30 Nov 2019 at 11:49hrs | 725 | by Staff reporter
Bring back the multi-currency regime, says Biti
FORMER Finance minister and Harare East legislator Tendai Biti says Zimbabwe needs to reintroduce the multi-currency regime, seek debt cancellation and liberalise the fuel industry, among other interv...Published: 29 Nov 2019 at 09:54hrs | 2780 | by Staff reporter
2020 Budget Hits and Misses
Zimbabwe's 2020 National Budget was presented amid high expectations from the market on the urgent need to turnaround the fortunes of the waning economy, restore incomes, and improve productivity and ...Published: 25 Nov 2019 at 11:17hrs | 1278 | by Staff Reporter
Government officials should be the first to declare where they get their forex
Minister of Finance Prof. Mthuli Ncube before requesting us to declare where our foreign currency is coming from when we bring in foodstuffs and household goods.The leadership of Zimbabwe should...Published: 24 Nov 2019 at 17:47hrs | 3288 | by Jacob Kudzayi Mutisi
Let's wield the whip if need be
No matter how many times it is told, the fable of "The Arab and the Camel" is never time-worn.Instead, it continues to hold an incredibly powerful reverence and relevance.Not surprisin...Published: 24 Nov 2019 at 14:04hrs | 85 | by Staff reporter
Come for more cash: RBZ
Banks have to continuously draw cash from the central bank to ensure uninterrupted supply to depositors, Reserve Bank of Zimbabwe (RBZ) Governor Dr John Mangudya has said.New cash and coins - ...Published: 24 Nov 2019 at 14:03hrs | 1978 | by Staff reporter
Tough forex controls loom
Importers will soon be required to declare the legal source of their foreign currency under legislation being drafted, as Government takes measures to kill the black market. Those who fail to ...Published: 23 Nov 2019 at 06:38hrs | 1141 | by Staff reporter
ZRP probes banks
THE Reserve Bank of Zimbabwe (RBZ) says a matter involving two banks alleged to have allowed their depositors to make withdrawals above the stipulated limit is now a police case.RBZ governor J...Published: 22 Nov 2019 at 18:26hrs | 4462 | by Staff reporter
RBZ conceals US$1bn fat cat loans
THE Reserve Bank of Zimbabwe (RBZ) has refused to hand over a list of beneficiaries of non-performing loans (NPLs) totalling US$1,13 billion which were inherited by the taxpayer via the Zimbabwe Asset...Published: 22 Nov 2019 at 18:12hrs | 5195 | by Staff reporter
There's a US$1,13 billion skeleton in the RBZ vault
EARLIER this year, I conducted an investigation into the catastrophic failings of Zimbabwe's governance architecture. For the most part, the probe focussed on the contribution of failed governance to ...Published: 22 Nov 2019 at 18:09hrs | 1706 | by Brezh Malaba
Mortgages gold to pay loans
PARLIAMENT has accused the Reserve Bank of Zimbabwe (RBZ) of illegally mortgaging the country's future gold sales as security for the central bank's external loans while slamming the apex bank for fai...Published: 22 Nov 2019 at 18:08hrs | 302 | by Staff reporter
RBZ raids US$3,2bn in depositors' funds
THE Reserve Bank of Zimbabwe (RBZ) raided depositors' accounts, wiping out US$3,2 billion in the process, before introducing bond notes in 2016 and eventually outlawing the use of foreign currency in ...Published: 22 Nov 2019 at 18:07hrs | 5394 | by Staff reporter
Why Mnangagwa has failed to improve the economic prospects of Zimbabwe?
It is now more than two years since President ED Mnangagwa assumed power with an ostensible mandate from his backers to improve the country's economic fortunes, the nemesis of his predecessor, RG Muga...Published: 21 Nov 2019 at 21:03hrs | 576 | by Martin
Nothing hopeful about Chamisa's HONA
The much hyped, but shallow, so called ‘Hope of The Nation Address', (HONA) by opposition leader, Nelson Chamisa had nothing new in it that Zimbabweans could actually hold on to, and believe t...Published: 21 Nov 2019 at 14:50hrs | 2452 | by Sibusiso Ndlamini
RBZ raises $105m of the targeted $200m
The Reserve Bank of Zimbabwe says it raised $105 million of the targeted $200 million from its latest Treasury Bills (TBs) auction. The auction saw the issuance of 272-day TBs, which were open...Published: 21 Nov 2019 at 03:58hrs | 1629 | by Staff reporter
Cashless society: EcoCash blip a wake-up call
Zimbabwe, like most nations, is moving more and more towards a cashless society where financial transactions are executed electronically than in physical banknotes and coins. Gone are the days...Published: 21 Nov 2019 at 03:56hrs | 1084 | by Staff reporter
EcoCash leaves consumers stranded
EcoCash services remained intermittent or non-available yesterday, causing major business losses and much hardship since the platform handles 85 percent of Zimbabwe's transactions and 99 percent of mo...Published: 20 Nov 2019 at 04:02hrs | 1824 | by Staff reporter
Gloomy festive season for Zimbabweans
The National Consumer Rights Association (Nacora) and the Zimbabwe Congress of Trade Unions (ZCTU) have predicted a gloomy festive season for ordinary citizens. They have also blamed the government fo...Published: 19 Nov 2019 at 20:38hrs | 838 | by Staff reporter
Cash scam - RBZ clears Ecobank
Ecobank says the Reserve Bank of Zimbabwe's Financial Intelligence Unit (FIU) has exonerated the financial institution after completing investigations into alleged diversion of funds to the black mark...Published: 19 Nov 2019 at 20:32hrs | 1106 | by Staff reporter
Ecobank speaks on $15,000 cash found on parallel market
Ecobank Zimbabwe Limited has said it complied with regulatory requirements before approving a $15 000 cash withdrawal by a customer which resulted in pictures of new Zimbabwe dollar notes circulating ...Published: 19 Nov 2019 at 20:30hrs | 882 | by Staff reporter
Business suffers as EcoCash still down
Retailers and other business entities may have lost potential revenue running into hundreds of millions of dollars after Zimbabwe's biggest mobile money platform, EcoCash, remained largely out of serv...Published: 19 Nov 2019 at 05:42hrs | 953 | by Staff reporter
FULL TEXT: RBZ statement on exchange rate
The Reserve Bank of Zimbabwe Monetary Policy Committee has emphasized the need for the Central bank to find ways of of funding productive sectors of the economy. The Committee which met on Mon...Published: 18 Nov 2019 at 15:37hrs | 10223 | by Mandla Ndlovu
Mthuli Ncube hails RBZ swift action on CBZ, Ecobank
Finance and Economic Development Minister Professor Mthuli Ncube has praised the Reserve Bank of Zimbabwe (RBZ) for swiftly acting against two banks alleged to have allowed their depositors to make wi...Published: 18 Nov 2019 at 06:26hrs | 1568 | by Staff reporter
RBZ Autonomy and Quasi-Fiscal Activities
The International Monetary Fund (IMF) has warned the Zimbabwean Government that it needs to give autonomy to its central bank if it is to avert the risk of plunging the economy into hyperinflation aft...Published: 17 Nov 2019 at 18:46hrs | 1135 | by Victor Bhoroma
Mthuli Ncube to embark on a brutal clampdown against cash barons
THE government has warned that it would embark on a brutal clampdown against cash barons and unscrupulous bank officials who are diverting money to the black market, the Daily News reports.Thi...Published: 16 Nov 2019 at 19:16hrs | 2545 | by Staff reporter
Nothing amiss in cash withdrawals above stipulated limits, Mangudya
Reserve Bank of Zimbabwe Governor, Dr John Mangudya, says there is nothing amiss in depositors withdrawing cash above stipulated limits as exemptions are normal in the financial services sector....Published: 15 Nov 2019 at 19:21hrs | 5066 | by Staff reporter
ZANU PF Youth leader calls for Mthuli Ncube to resign
ZANU PF Youth League National Commissariat Godfrey Tsenengamu says the Youth League will be marching to the Reserve Bank of Zimbabwe on Monday to push for the resignation of Governor John Mangudya and...Published: 15 Nov 2019 at 09:20hrs | 9221 | by Mandla Ndlovu
2 years after Mugabe ouster in a coup: Zimbabwe in an abyss
"Following the address we made on November 13, 2017, which we believe our main broadcaster, the Zimbabwe Broadcasting Corporation and The Herald were directed not to publicise, the situation in our co...Published: 15 Nov 2019 at 06:32hrs | 1247 | by Staff reporter
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