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Chiwenga says Zimbabwe's monetary policy is in line with SADC integration
Zimbabwe's advancements in the gold sector, including the adoption of a floating exchange rate framework, align closely with the Southern African Development Community's (SADC) goal of achieving regio...Published: 14 Sep 2024 at 16:13hrs | 871 | by Staff reporter
US$ shortages on official market crippling ZiG acceptability
The Confederation of Zimbabwe Industries (CZI) warns that the ongoing US$ shortages on the official market could further undermine the ZiG currency, amid increasing calls for comprehensive reforms to ...Published: 12 Sep 2024 at 08:07hrs | 1803 | by Staff reporter
ZiG sabotage
The introduction of the Zimbabwe Gold currency (ZiG) nearly five months ago has contributed to noticeable stability and low inflation, largely due to the Reserve Bank of Zimbabwe's (RBZ) rigorous meas...Published: 10 Sep 2024 at 08:49hrs | 6390 | by Staff reporter
Zimbabwe must be bold in FDI drive
Finance, Economic Development, and Investment Promotion Permanent Secretary George Guvamatanga has disclosed that the government has been inundated with demands from prospective investors seeking Zimb...Published: 09 Sep 2024 at 08:24hrs | 97 | by Staff reporter
Teacher arrested while trying to convert ZiG to US$
Albert Nyambara, a teacher from Marondera who was arrested for attempting to convert his local currency, ZiG, salary into United States dollars, has been summoned to appear at the Marondera Magistrate...Published: 06 Sep 2024 at 17:14hrs | 1834 | by Staff reporter
RBZ predicts further Zimbabwe economic downturn
The Reserve Bank of Zimbabwe (RBZ) has revised its 2024 economic growth forecast down to 2%, citing the severe drought's impact on economic activity. This is a sharp decline from earlier estim...Published: 06 Sep 2024 at 14:42hrs | 2571 | by Staff reporter
Zimbabwe govt intervenes to end dual pricing
The government is closely monitoring businesses that are manipulating the exchange rate by using black market rates instead of the official ZiG currency rate. This practice undermines the ZiG, which i...Published: 05 Sep 2024 at 17:07hrs | 6006 | by Staff reporter
Chiwenga talks tough over falling ZiG
Vice-President Constantino Chiwenga has announced that the government is closely monitoring financial markets to address the recent decline in the value of the local currency on the parallel mark...Published: 05 Sep 2024 at 07:21hrs | 986 | by Staff reporter
Zimbabwe Central Bank issues revised forex market guidelines
The Reserve Bank of Zimbabwe (RBZ), through its Exchange Control department, has issued updated guidelines and compliance parameters for the interbank foreign exchange market, emphasizing the limitati...Published: 04 Sep 2024 at 07:46hrs | 125 | by Staff reporter
RBZ makes U-turn
The Reserve Bank of Zimbabwe (RBZ) has announced that holders of non-negotiable certificates of deposit (NNCDs) will now receive tradable government bonds. This decision comes in response to pressure ...Published: 03 Sep 2024 at 15:45hrs | 27299 | by Staff reporter
Zimbabwe central bank injects US$190 million to meet forex demand
Zimbabwe's central bank has injected US$190 million into the foreign-exchange market to meet demand for dollars and maintain economic stability since the introduction of a new bullion-backed currency,...Published: 03 Sep 2024 at 14:37hrs | 455 | by Staff reporter
Expired, counterfeit products taken to Zimbabwe's rural areas
The Consumer Protection Commission (CPC) has expressed concern over unscrupulous businesses that are channeling expired, counterfeit, and underweight products to rural areas in Zimbabwe, taking advant...Published: 01 Sep 2024 at 10:17hrs | 207 | by Staff reporter
Zimbabwe central bank says it's intervening in foreign exchange market
Zimbabwe's central bank said it's "strategically intervening" in the foreign-exchange market to meet demand for dollars among lenders amid a slump in the nation's bullion-backed currency.The i...Published: 31 Aug 2024 at 11:14hrs | 625 | by Staff reporter
RBZ exempts transactions less than US$10 from bank charges
Starting from 1 September 2024, the Reserve Bank of Zimbabwe (RBZ) will exempt electronic transactions under US$10 (or the ZiG equivalent) from bank charges. This move aims to encourage the use of ele...Published: 31 Aug 2024 at 11:13hrs | 128 | by Staff reporter
'ZiG acceptance rate reaches 91%'
Zimbabwe's local currency, ZiG, has seen a significant boost in public confidence, with acceptance rates soaring to 91% from 61% since its launch in April 2024, according to Reserve Bank of Zimbabwe G...Published: 31 Aug 2024 at 11:12hrs | 1785 | by Staff reporter
After ditching the dollar, Zimbabwe now rushing for it at a steeper cost
NEARLY five months after changing its currency to arrest inflation, Zimbabwe is back in familiar territory as the new local unit has started losing ground.The problem seems to be based on how ...Published: 26 Aug 2024 at 08:11hrs | 3915 | by Staff reporter
Former TIMB boss cleared
Charges of criminal abuse of office involving over US$2 million against former Tobacco Industry and Marketing Board (TIMB) chief executive Meanwell Gudu and two accomplices have been withdrawn before ...Published: 24 Aug 2024 at 11:41hrs | 96 | by Staff reporter
Mnangagwa must fire Mthuli, Mushayavanhu & Guvamatanga, says Zanu-PF activist
South African-based Zanu-PF supporter Kudzai Mutisi has urged President Emmerson Mnangagwa to remove Minister of Finance, Economic Development and Investment Promotion Mthuli Ncube, the Ministry's per...Published: 22 Aug 2024 at 14:59hrs | 3787 | by Staff reporter
RBZ has no plans to grab foreign currency received from diaspora
The Reserve Bank of Zimbabwe (RBZ) has dismissed rumors that it plans to forcefully withhold all foreign currency from diaspora remittances. This follows a viral vid...Published: 17 Aug 2024 at 12:53hrs | 1350 | by Staff reporter
Zimbabwe prepares for Sadc payments platform
Zimbabwe is preparing to join a regional payments system developed by the Southern African Development Community (Sadc) to facilitate cross-border transactions. This move comes as part of Sadc's broad...Published: 03 Aug 2024 at 13:05hrs | 388 | by Staff reporter
Zimbabwe Central Bank says usage of ZiG has doubled
The use of Zimbabwe's bullion-backed currency has doubled since it was launched in early April, central bank Governor John Mushayavanhu told the country's Sunday Mail newspaper.The ZiG is now ...Published: 31 Jul 2024 at 07:07hrs | 915 | by Staff reporter
Zimbabwe shops continue to reject ZiG
The surge in black-market exchange rates, which peaked at US$1:25 ZiG, has led some businesses in Bulawayo to reject transactions in Zimbabwe Gold (ZiG), defying government directives. This defiance u...Published: 30 Jul 2024 at 07:39hrs | 1844 | by Staff reporter
ZiG acceptance grows across Zimbabwe economy
The Reserve Bank of Zimbabwe (RBZ) has observed a growing acceptance of the local currency, ZiG, by both businesses and individuals, which aligns with the central bank's efforts to stabilize the econo...Published: 24 Jul 2024 at 08:54hrs | 2080 | by Staff reporter
Zimbabwe's ZiG primed for seamless international acceptance and usage
THE country's new currency, Zimbabwe Gold (ZIG) widespread acceptance locally will trigger a seamless acceptance regionally, Monetary Policy Committee member Mr Persistence Gwanyanya has said....Published: 10 Jul 2024 at 15:50hrs | 24 | by Staff reporter
Government's ZWL$1 billion debt cripples Zimpapers operations
The country's largest multimedia group, Zimpapers Limited is owed in excess of ZWL$1 billion by government departments and ministries, parliament has been told, a situation that has crippled its opera...Published: 09 Jul 2024 at 06:21hrs | 10 | by Staff reporter
John II's mission impossible to save Zimbabwe economy clocks 100 days
Zimbabwe's new central bank Governor John Mushayavanhu has done the seemingly impossible in his first 100 days - created a stable currency and tamed price pressures in a nation that's been a poster-ch...Published: 08 Jul 2024 at 11:06hrs | 6 | by Staff reporter
John II tames Zimbabwe currency turmoil
Zimbabwe's new central bank Governor John Mushayavanhu has done the seemingly impossible in his first 100 days - created a stable currency and tamed price pressures in a nation that's been a poster-ch...Published: 07 Jul 2024 at 11:54hrs | 2 | by Staff reporter
Reserves backing Zimbabwe's ZiG shoot to US$370 million
Prices of goods and services in Zimbabwe are expected to remain stable, thanks to increased cash and mineral reserves backing the new currency, Zimbabwe Gold (ZiG). These reserves have risen from US$2...Published: 07 Jul 2024 at 10:34hrs | 69 | by Staff reporter
Zimbabwe economy could hamper Mnangagwa's Brics ambition
President Emmerson Mnangagwa has announced Zimbabwe's readiness to join the BRICS grouping, claiming the country now has a stable currency and solid economic fundamentals. BRICS, comprising Brazil, Ru...Published: 02 Jul 2024 at 12:49hrs | 7 | by Staff reporter
Mnangagwa confirms structure to 'drip feed' ZWG into economy
Deputy Minister of Finance, Economic Development, and Investment Promotion, David Mnangagwa, acknowledged that the introduction of the Zimbabwe Gold (ZWG) currency in April has been characterized by a...Published: 01 Jul 2024 at 13:34hrs | 8 | by Staff reporter
Mushayavanhu discards ZiG banknotes with Mangudya's signature
The Reserve Bank of Zimbabwe (RBZ), under new governor John Mushayavanhu, destroyed millions' worth of Zimbabwe Gold (ZiG) banknotes that had been printed with the signature of his predecessor, John M...Published: 01 Jul 2024 at 10:29hrs | 9 | by Staff reporter
Zimbabwe banks downplay ZWG shortages
Zimbabwe's banking sector has sought to downplay reports of severe liquidity shortages following the introduction of the new Zimbabwe Gold (ZWG) currency by the Reserve Bank of Zimbabwe (RBZ) on April...Published: 30 Jun 2024 at 18:32hrs | | by Staff reporter
IMF says Zimbabwe's economy continues to show resilience
In light of new policy developments, an International Monetary Fund (IMF) staff team led by Mr. Wojciech Maliszewski conducted a second mission to Harare during June 18-27, 2024, to conclude the 2024 ...Published: 28 Jun 2024 at 13:01hrs | 4 | by Staff reporter
Zimbabwe's central bank projects 5% annual inflation
The Reserve Bank of Zimbabwe (RBZ) anticipates annual inflation to decline sharply to just 5% by the end of the year, supported by stability in the Zimbabwe Gold (ZiG) currency and exchange rates. ...Published: 28 Jun 2024 at 07:45hrs | 2 | by Staff reporter
ZiG performance pleases RBZ, private sector leaders
Private sector leaders and the Reserve Bank of Zimbabwe (RBZ) have praised the performance of Zimbabwe's structured currency, the Zimbabwe Gold (ZiG), citing its stability and positive impact on price...Published: 28 Jun 2024 at 07:39hrs | 2 | by Staff reporter
Zimbabwe central bank sees slower economic growth of 2%
The Reserve Bank of Zimbabwe (RBZ) projects the economy to grow by 2% in 2024, which is slower than the government's earlier forecast of 3.5%. Despite the lower inflation outlook and market calls for ...Published: 27 Jun 2024 at 14:22hrs | | by Staff reporter
Does Mnangagwa intend stabilizing the economy by creating a phantom currency?
Does Mnangagwa intend stabilizing the economy by creating a phantom currency?Ever since the Zimbabwe government announced a new currency on 5th April 2024, they have never ceased bragging over...Published: 26 Jun 2024 at 20:56hrs | 1 | by Tendai Ruben Mbofana
RBZ changes local currency international code
The Reserve Bank of Zimbabwe (RBZ) has announced that the country’s international currency code is now ZWG. This is after the introduction of the new currency Zimbabwe Gold or ZiG in Apri...Published: 26 Jun 2024 at 20:06hrs | 1 | by Erick Matotoba
Zimbabwe currency code changes to ZWG
The World Bank International Organisation for Standardisation (ISO) Committee has approved the change of Zimbabwe's local currency code from ZWL to ZWG (Zimbabwe Gold).The ISO 4217 standard, w...Published: 26 Jun 2024 at 13:00hrs | 9 | by Staff reporter
FIU targets informal sector ZiG manipulators
The Financial Intelligence Unit (FIU), part of the Reserve Bank of Zimbabwe (RBZ), is intensifying efforts against the informal sector to combat currency manipulation aimed at undermining the Zimbabwe...Published: 26 Jun 2024 at 07:14hrs | | by Staff reporter
Zimbabwe to seek global recognition for ZiG
The Reserve Bank of Zimbabwe (RBZ) is committed to ensuring the long-term sustainability of the Zimbabwe Gold (ZiG) as a viable currency and aims to establish the local currency as a globally rec...Published: 24 Jun 2024 at 06:22hrs | 1 | by Staff reporter
Zimbabwe's banks not ready for cryptocurrency
At the inaugural Capital Markets Conference in Nyanga, it was disclosed that Zimbabwean banks are not yet prepared to fully integrate cryptocurrency trading, despite ongoing efforts by regulators to d...Published: 23 Jun 2024 at 10:40hrs | 27 | by Staff reporter
Zimbabwe central bank dragged to court over forex
Linda Tsungirirai Masarira has filed an urgent High Court application against the Reserve Bank of Zimbabwe (RBZ), alleging that ordinary citizens are being unfairly constrained in accessing foreign cu...Published: 21 Jun 2024 at 11:30hrs | 6 | by Staff reporter
Mthuli Ncube authorises 50-50 currency split for tax payment
The Zimbabwean Treasury has authorized companies to pay their Second Quarter Corporate Income Tax obligations in both local currency (ZiG) and foreign currency on a 50:50 basis. This decision is part ...Published: 20 Jun 2024 at 07:22hrs | 4 | by Staff reporter
'ZiG a game changer for economy'
President Mnangagwa has hailed the Zimbabwe Gold currency (ZiG), backed by gold, as a robust strategy for achieving currency stability and fostering economic growth. Speaking at the 10th CEO Africa Ro...Published: 17 Jun 2024 at 08:56hrs | | by Staff reporter
Zimbabwean currency poised to strengthen further
The Zimbabwean currency, Zimbabwe Gold (ZiG), is expected to strengthen against major currencies in the official market due to increased demand as companies prepare to meet their quarterly corporate i...Published: 16 Jun 2024 at 09:04hrs | 18 | by Staff reporter
RBZ, kombi operators meet over change
The Reserve Bank of Zimbabwe (RBZ) has reported that despite releasing ZiG55 million in small notes and coins since April, the domestic market continues to experience a shortage of change. ...Published: 11 Jun 2024 at 05:45hrs | | by Staff reporter
'Zimbabwe's ZiG won't fail'
President Mnangagwa affirmed the robustness of the Zimbabwe Gold (ZiG), a meticulously developed currency backed by gold, which the government diligently worked on for two years. Introduced by...Published: 09 Jun 2024 at 09:09hrs | 2 | by Staff reporter
RBZ freezes 522 accounts for violating exchange control regulations
The Reserve Bank of Zimbabwe's Financial Intelligence Unit (FIU) has frozen 522 bank accounts and fined 140 entities and individuals for violating exchange control regulations, as part of efforts to d...Published: 09 Jun 2024 at 09:08hrs | 2 | by Staff reporter
RBZ moves to boost ZiG circulation
The Reserve Bank of Zimbabwe (RBZ) has announced a plan to increase the circulation and divisibility of Zimbabwe Gold (ZiG) coins by urging the public, vendors, and transport operators to obtain coins...Published: 06 Jun 2024 at 07:51hrs | 2 | by Staff reporter
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