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Spooks investigate US$45m CAPS deal
ZIMBABWE's state security service, the Central Intelligence Organisation (CIO), is investigating a volatile commercial dispute that has erupted between the government and interim trustees of Caps Phar...Published: 19 Dec 2020 at 16:38hrs | 1251 | by Staff reporter
Mthuli Ncube lines up TBs to fund deficit
GOVERNMENT is set to float Treasury Bills (TBs) to finance the 2021 budget deficit, Finance minister Mthuli Ncube said last week.Last week on Thursday, the minister unveiled a ZW$421,6 billion...Published: 04 Dec 2020 at 07:18hrs | 302 | by Staff reporter
Treasury records $5.39 billion deficit in July
Government incurred a deficit of $549.95 million in the seven months to July, missing a targeted surplus of $2.02 billion after higher expenses mainly due to the payment of Covid-19 risk allowances to...Published: 11 Nov 2020 at 14:03hrs | 1485 | by Staff reporter
Partial dollarization to induce economic stability
The Zimbabwean economy has vaulted back to the multi-currency regime that prevailed between 2009 and 2018 with the US Dollar transactions gradually growing in the formal market while dominating trade ...Published: 03 Nov 2020 at 14:25hrs | 3242 | by Victor Bhoroma
Zimbabwe industry demands complete reforms
ZIMBABWE'S industry has proposed a raft of far-reaching reforms to be incorporated in Finance minister Mthuli Ncube's 2021 national budget, including the abolishment of subsidies.In its propos...Published: 15 Oct 2020 at 06:42hrs | 415 | by Staff reporter
Mthuli Ncube cuts wage bill to below 50%
THE Government has managed to bring down the proportion of the public wage bill in the national budget from 92 percent in 2017 to below 50 percent, resulting in fiscal surpluses that have been investe...Published: 28 Aug 2020 at 06:46hrs | 3203 | by Staff reporter
Key aspects sinking the Zimbabwean Dollar
The Zimbabwean economy is rapidly re-dollarizing, less than 12 months after the government banned the trading of multiple currencies through Statutory Instrument 142 of 2019 and introduced a local cur...Published: 19 Jul 2020 at 07:03hrs | 3363 | by Victor Bhoroma
RBZ floats $500 million Treasury Bills
THE Reserve Bank of Zimbabwe (RBZ) is seeking to raise $500 million through the issuance of Treasury Bills to fund Covid-19 pandemic expenditure. The pandemic which was first detected in China...Published: 03 Jul 2020 at 08:10hrs | 1096 | by Staff reporter
Mnangagwa's govt seek $5 million for COVID-19 fight
GOVERNMENT is seeking to raise $500 million through Treasury Bills (TBs) to meet the COVID-19 pandemic expenditure, the Reserve Bank of Zimbabwe has said.The apex bank has invited banks and bu...Published: 03 Jul 2020 at 07:43hrs | 109 | by Staff reporter
Mnangagwa's govt sued for cancelled maize deal
A company that was set to supply the country with maize worth US$19m has filed a High Court application challenging the Government's decision to cancel the deal. In the application, in which t...Published: 08 Jun 2020 at 07:18hrs | 1726 | by Staff reporter
Mthuli raises $500 million in treasury bill sales
Zimbabwe has raised $500 million in TB auctions that it will use to help combat the spread of the coronavirus. Finance Minister Mthuli Ncube said government aimed to raise $1 billion in emerge...Published: 04 Jun 2020 at 18:03hrs | 1376 | by Staff reporter
Zimbabwe records a budget surplus, But
Zimbabwe recorded its first fiscal surplus since 2011 as a result of significant contributions from Intermediate Monetary Transfer (IMT) Tax, subdued investment on capital expenditure and civil servic...Published: 26 Apr 2020 at 08:23hrs | 725 | by Victor Bhoroma
Sakunda Holdings scoffs at state capture claims
SAKUNDA Holdings yesterday denied capturing government, insisting the Command Agriculture deal was approved by Cabinet and that the company was allocated US$1,010 billion by the Reserve Bank of Zimbab...Published: 17 Mar 2020 at 06:21hrs | 613 | by Staff reporter
'RBZ policies are litany of promises to be broken' Sadly, povo who suffer consequences are powerless - change is overdue
"Unsurprisingly, the Reserve Bank of Zimbabwe (RBZ)'s 2020 monetary policy statement is more of the same — a tired litany of promises waiting to be broken and targets queuing up to be missed. Govern...Published: 11 Mar 2020 at 08:58hrs | 1663 | by Wilbert Mukori
What IMF report really says about Zimbabwe's economy
Unsurprisingly, the Reserve Bank of Zimbabwe (RBZ)'s 2020 monetary policy statement is more of the same — a tired litany of promises waiting to be broken and targets queuing up to be missed. Governo...Published: 06 Mar 2020 at 12:34hrs | 566 | by Anthony Hawkins
Assessing the latest Monetary Policy Statement
The Reserve Bank of Zimbabwe (RBZ) delivered its first monetary policy statement for 2020 (On 17 of February 2020) with an impetus on stabilizing prices and the exchange rate. The central bank deliver...Published: 03 Mar 2020 at 07:50hrs | 430 | by Victor Bhoroma
Court ruling costs industry US$20bn
ZIMBABWE's industrial and financial sector is estimated to have lost more than US$20 billion following the Supreme Court ruling allowing for the settling of United States dollar debts, acquired before...Published: 14 Feb 2020 at 06:52hrs | 1263 | by Staff reporter
NSSA dumps Treasury Bills
THE National Social Security (Nssa) has discontinued investing in Treasury Bills (TBs) in the face of skyrocketing inflation, with the state-run pension fund now saddled with US$295 million (in TBs an...Published: 07 Feb 2020 at 06:02hrs | 536 | by Staff reporter
Nelson Chamisa’s Agenda 2020 address to the nation
(Transcript of MDC leader Nelson Chamisa’s ‘Agenda 2020’ address as prepared for delivery at Stodart Hall in Mbare on January 21, 2020)Fellow Zim...Published: 22 Jan 2020 at 19:47hrs | 1494 | by Nelson Chamisa
Its flawed macro-economic governance systems, Stupid!
PUBLIC Accounts Committee (PAC) chairperson, Honourable Tendai Biti is not only an accomplished lawyer but has also authored a book with Greg Mills and former Nigerian president Olusegun Obasanjo. ...Published: 23 Dec 2019 at 14:44hrs | 278 | by Jameson Dapi
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 | 807 | by Anthony Hawkins
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 | 1159 | 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 | 352 | 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 | 5247 | by Staff reporter
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 | 1675 | 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 | 1169 | by Victor Bhoroma
RBZ raises $300m
The Reserve Bank of Zimbabwe said yesterday it successfully managed to raise $300 million through its latest 182-day treasury bill auction. The offer, which opened and closed on Tuesday,...Published: 14 Nov 2019 at 05:29hrs | 376 | by Staff reporter
RBZ seeks to raise $300m through TBs
GOVERNMENT is seeking to raise another $300 million through Treasury Bills (TBs) to finance its programmes, a month after issuing a sovereign paper with the same amount.In a statement yesterda...Published: 12 Nov 2019 at 07:22hrs | 203 | by Staff reporter
Zimbabwe in debt distress
LACK of transparency in public debt management and the failure to comply with legal stipulations are now manifesting in depressed fiscal space and low domestic resource mobilisation, analysts have sai...Published: 08 Nov 2019 at 05:15hrs | 395 | by Staff reporter
Zimbabwe de-dollarization & other countries experiences
Zimbabwe suspended its local currency on the 9th of April 2009 and adopted a basket of multiple currencies such as the South African Rand, British Pound, Botswana Pula, Japanese Yen, Euro and the Unit...Published: 01 Nov 2019 at 13:41hrs | 5313 | by Victor Bhoroma
Zimbabwe's not so new currency
News about a pending currency coming to the market in a fortnight made headlines on Tuesday even as it abated confusion over the reintroduction of the currency in question. The confusion pertains to w...Published: 31 Oct 2019 at 07:19hrs | 763 | by Respect Gwenzi
Mangudya throws Chinamasa under the bus?
RESERVE Bank governor John Mangudya yesterday threw former Finance minister Patrick Chinamasa under the bus after he refused to take responsibility for the US$3,2 billion Treasury Bills that were unla...Published: 25 Oct 2019 at 10:53hrs | 4606 | by Staff reporter
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: 15 Oct 2019 at 07:01hrs | 3929 | 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: 15 Oct 2019 at 06:46hrs | 143 | 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: 15 Oct 2019 at 06:34hrs | 242 | by Staff Reporter
Tendai Biti tears into Mthuli Ncube
MDC Vice President Tendai Biti has fired salvo at the Finance and Economic Deevelopmnet Minister Mthuli Ncube accusing him of being a person who misleads the citizens. Biti was commenting on N...Published: 13 Oct 2019 at 10:05hrs | 11405 | by Mandla Ndlovu
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 07:14hrs | 852 | by Staff reporter
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$150 million to finance Government programmes. Last week, RB...Published: 10 Oct 2019 at 06:43hrs | 155 | by Staff reporter
Mthuli Ncube told to scrap 2% tax
CAPTAINS of industry and commerce yesterday asked Treasury to scrap or lower the controversial 2% intermediated money transfer tax (IMTT) imposed last year by Finance minister Mthuli Ncube, saying it ...Published: 08 Oct 2019 at 13:45hrs | 4403 | by Staff reporter
Mupfumira matter postponed
The matter of former Environment, Tourism and Hospitality Industry, Minister Prisca Mupfumira, who is out on ZWL$ 5 000 bail has been postponed to November 18.The former minister is facing sev...Published: 04 Oct 2019 at 15:22hrs | 294 | by Staff reporter
$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 12:38hrs | 285 | 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 07:27hrs | 28 | 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 06:44hrs | 852 | by Staff repporter
Biti reads the riot act to RBZ officials
Parliament's Public Accounts Committee (PAC) has warned that the Reserve Bank of Zimbabwe (RBZ) and its management risk being prosecuted for flouting the country's laws. PAC chairperson and fo...Published: 27 Sep 2019 at 08:02hrs | 3193 | by Staff reporter
Biti to recommend the prosecution of some top RBZ officials
PUBLIC Accounts Committee chair Tendai Biti says parliament will soon recommend the prosecution of some top Reserve Bank of Zimbabwe (RBZ) officials over the reckless issuance of treasury bills (TBs) ...Published: 27 Sep 2019 at 07:12hrs | 296 | by newzimbabwe
Zimbabwe exchange rate Armageddon near
THE Monetary Policy Statement (MPS) released last Friday supplied data which when analysed show that unless drastic measures are taken, our local currency will take a heavy battering in the coming wee...Published: 21 Sep 2019 at 07:32hrs | 3882 | by Brett Chulu
RBZ introduces US dollar savings bond
The Reserve Bank of Zimbabwe (RBZ) has brought to the market a United States dollar-denominated savings bond with an interest rate of 7,5 percent per annum to promote a savings culture among Zimbabwea...Published: 18 Sep 2019 at 06:44hrs | 3100 | by Staff reporter
Tendai Biti led team queries 'rogue' RBZ payments
Parliament yesterday slammed the Reserve Bank of Zimbabwe (RBZ) for carrying out quasi fiscal activities outside its mandate and using taxpayers and pensioners' money to fund government activities....Published: 17 Sep 2019 at 10:01hrs | 1098 | by Staff reporter
Treasury instructed RBZ to pay US$660m to Sakunda
The Reserve Bank of Zimbabwe (RBZ) yesterday told parliament that it paid US$663,8 million worth of treasury bills (TBs) to Sakunda Holdings (Sakunda) owned by fuel mogul Kuda Tagwirei under instructi...Published: 17 Sep 2019 at 07:35hrs | 1567 | by Staff reporter
Mnangagwa owns CBZ bank?
One of the country's leading commercial banks CBZ is now owned by President Emmerson Mnangagwa. This was revealed by exiled former cabinet Minister Professor Jonathan Moyo.Moyo was responding ...Published: 17 Sep 2019 at 04:59hrs | 11884 | by Mandla Ndlovu
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