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'Interbank market won't be manipulated'
Mechanisms have been put in place to ensure that the foreign currency interbank market will not be manipulated, Finance and Economic Development Minister Professor Mthuli Ncube has said. This ...Published: 16 hrs ago | 308 | by Staff reporter
Marriot International set to change the face of Victoria Falls
GLOBAL hospitality group, Marriot International, is set to change the face of Victoria Falls after it agreed to inject USD$500 million into the resort town for the construction of a boutique hotel and...Published: 17 Mar 2019 at 08:35hrs | 2063 | by Staff reporter
Ilala lodge hotel completes $200k new plunge pool and poolside lounge
Ilala Lodge Hotel has today announced the completion of a new plunge pool and a new poolside lounge. The new features overlook breath-taking views of the mist that rises above one of the seven natural...Published: 15 Mar 2019 at 09:16hrs | 1542 | by Staff reporter
Civil servants' duty free cars importation details released
Government has given civil servants the green light to import cars duty-free as President Mnangagwa's administration continues to cushion its workers through non-monetary incentives. The Gover...Published: 14 Mar 2019 at 07:54hrs | 5803 | by Staff reporter
Zesa seeks tariff increases
ZIMBABWE'S power utility is considering increasing electricity tariffs by as much as 30% to reflect the rise in production costs following the devaluation of the local currency last month.Mone...Published: 14 Mar 2019 at 07:45hrs | 1109 | by Staff reporter
Foreign participation on ZSE declines
The Zimbabwe Stock Exchange (ZSE) says the participation of foreigners on the bourse has declined following the monetary policy statement last month, but it expects several new listings this year....Published: 12 Mar 2019 at 06:00hrs | 182 | by Staff reporter
2% tax to rake in $600 million
The government has revealed to the International Monetary Fund (IMF) that the two percent electronic transaction tax will realise over US$600 million this year as authorities forge ahead with economic...Published: 11 Mar 2019 at 15:00hrs | 1142 | by Staff reporter
Ecocash apologises
EcoCash (Pvt) Ltd has apologized to its clients who have been facing a horrible service from the Ecocash money transfer services in the past weekes.Technical challenges that the users were fac...Published: 11 Mar 2019 at 07:54hrs | 4053 | by Mandla Ndlovu
Insurance companies, Peoples Savings, Fixed income earners at Risk due to unstable economy.
Zimbabwe financial system is still in a disarray despite the measures unpacked in the monetary policy statement of the first half of year 2019 with Dr Mangudya on 19 February. The economy is continuou...Published: 10 Mar 2019 at 07:04hrs | 384 | by Elvis Dzvene
Heal Zimbabwe boss granted $1,000 bail
High Court judge Justice Moses Foroma yesterday released, on USD$1 000 bail, Heal Zimbabwe Trust director and chairperson of the Crisis in Zimbabwe Coalition, Rashid Mahiya, who is facing charges of a...Published: 08 Mar 2019 at 10:26hrs | 388 | by Staff reporter
Boka wins USD$50 000 adultery damages
Harare businesswoman Rudo Boka Mutambanengwe has been granted a USD$50 000 adultery damages compensation after a woman who snatched her husband failed to defend the litigation.Through her lawy...Published: 08 Mar 2019 at 10:26hrs | 1834 | by Staff reporter
Zimbabwe's new currency, a maxi-devaluation
Until February 20, Zimbabwe produced a quasi-currency. It was dubbed a "Zollar". On February 20, the quasi-currency became Zimbabwe's official currency. This new currency is called RTGS dollars and co...Published: 08 Mar 2019 at 07:13hrs | 2032 | by Steve H Hanke
WorldRemit's guaranteed cash pickup service continues to surge
WorldRemit, a leading online international money transfer company, has seen a rapid uplift in customers sending money to Zimbabwe using its guaranteed cash pickup service. Transfers sent for cash coll...Published: 05 Mar 2019 at 13:20hrs | 835 | by Agencies
RTGS Dollar ≠ Crypto-currency
On Friday 22 February 2019, our analyst; Batanai Matsika had an interesting interview with South Africa's Business Day TV (DSTV Channel 412). The conversation focused on the recently announced...Published: 05 Mar 2019 at 07:53hrs | 2567 | by Batanai Matsika
Government implements vehicle loan scheme
GOVERNMENT has started implementing a vehicle loan scheme for senior officials replacing personal issue vehicles as part of an expenditure management strategy meant to curtail wasteful spending. ...Published: 04 Mar 2019 at 07:09hrs | 525 | by Staff reporter
SA banks block Zimbabwe currency imports
SOUTH African banks have blocked their Zimbabwe counterparts from importing United States dollars as a measure to mitigate the risk associated with dealing with Harare-based institutions, a senior Res...Published: 28 Feb 2019 at 06:18hrs | 3420 | by Staff reporter
Zimbabwe will have a regulated, transparent foreign currency market
As we work to put Zimbabwe's economy back on its feet, recovery is the word. The Zimbabwean financial situation, its industry, its businesses, have all been in a state of stagnation for far too long. ...Published: 28 Feb 2019 at 06:14hrs | 1620 | by Prof Mthuli Ncube
Transport blues hit Harare
SCORES of commuters were on Monday night stranded in the city centre as public transport operators either stopped early in the evening or were not there at all.This was because of an unanticip...Published: 27 Feb 2019 at 14:31hrs | 2571 | by Staff reporter
Mnangagwa's virtual currency to last 6 months
PRESIDENT Emmerson Mnangagwa, using the Presidential (Temporary Measures) Powers Act, introduced a virtual currency, the real-time gross settlement systems (RTGS) dollar, which will remain legal tende...Published: 27 Feb 2019 at 06:44hrs | 2862 | by Staff reporter
Econet adjusts roaming, international tariffs
LEADING telecommunications company, Econet Wireless Zimbabwe, has announced an increase of between 10 and 40 percent in tariffs for roaming, international outbound calling and SMS services effective y...Published: 27 Feb 2019 at 06:31hrs | 509 | by Staff reporter
Zifa barred from accessing funds
High Court judge Justice Amie Tsanga has ordered Ecobank Zimbabwe Limited to stop Zifa from accessing funds held by the financial institution pending the finalisation of a wrangle between the football...Published: 26 Feb 2019 at 20:31hrs | 1073 | by Staff reporter
'Low bank balances a result of dead savings culture'
MORE than 95% of the 3,24 million individual real time gross settlement (RTGS) accounts held less than $1 000 as of December 2018, the central bank recently revealed in its monetary policy statement, ...Published: 26 Feb 2019 at 06:59hrs | 1258 | by Staff reporter
Monetary policy statement, an admission of failure
On February 20, Reserve Bank of Zimbabwe governor, John Mangudya, issued his monetary statement which contained both admissions of failure in the economy and a topsy-turvy aspiration for an immediate ...Published: 25 Feb 2019 at 08:25hrs | 2587 | by Tapiwa Gomo
Forex parallel market bullish
FOREIGN currency parallel market traders are unfazed by the introduction of the interbank market auction of the real time gross settlement dollars (RTGS$) and have continued trading on the streets wit...Published: 25 Feb 2019 at 08:16hrs | 2666 | by Staff reporter
'RTGS/USD rate to settle at 1:2,5'
STOCKBROKING firm, IH Securities, believes the scrapping of the 1:1 exchange rate by Reserve Bank of Zimbabwe (RBZ) Governor Dr John Mangudya in last week's 2019 Monetary Policy Statement, is revoluti...Published: 25 Feb 2019 at 08:14hrs | 1580 | by Staff reporter
1:1 cost Zimbabwe $2bn annually, says Mthuli Ncube
ZIMBABWE'S currency controls which saw bond notes being pegged at par with the United States dollar cost treasury an estimated $2 billion, a government official has revealed.Finance minister M...Published: 24 Feb 2019 at 06:49hrs | 536 | by Staff reporter
US$5 million traded on first day
Only five banks used the interbank foreign currency market on the first day of trade on Friday where at least US$5 million exchanged hands, it has been revealed.The Reserve Bank of Zimbabwe (R...Published: 24 Feb 2019 at 06:47hrs | 1265 | by Staff reporter
Cross, Ncube's reforms will never deliver economic prosperity not as long as Zimbabwe remains a pariah state
"People of Zimbabwe deserve a new day" wrote Eddie Cross in Bulawayo24. Mr Cross was writing about Zimbabwe's economic chaos, the country has already claimed the position of being the poorest ...Published: 23 Feb 2019 at 07:48hrs | 9505 | by Patrick Guramatunhu
Employers not worried by bond notes, RTGS devaluation
The floating of RTGS dollars will have minimum effect on employers despite the rising inflation, which reached record levels since the introduction of the multi-currency regime 10 years ago, an employ...Published: 21 Feb 2019 at 21:02hrs | 2112 | by Staff reporter
Chamisa opens up on Monetary Policy Statement
MDC leader Nelson Chamisa has described the Monetary Policy statement issued by RBZ Chief John Panonetsa Mangudya as a disaster that will destroy the livelihoods on Zimbabweans."The Monetary p...Published: 21 Feb 2019 at 12:31hrs | 10810 | by Mandla Ndlovu
'Monetary Policy Statement will bring sanity' says RBZ Governor - will not and never will as long as insane rule the roost
The primary objective of the Reserve Bank of Zimbabwe's (RBZ) long awaited Monetary Policy Statement was to bring sanity to Zimbabwe's chaotic economic world, especially the madness in financial and c...Published: 21 Feb 2019 at 09:14hrs | 1200 | by Nomusa Garikai
Zimbabwe abandons the 1:1 rate
The Reserve Bank of Zimbabwe (RBZ) will introduce Foreign Currency Accounts (FCAs) that will be utilising the real time gross settlement system (RTGS) by the end of this month. This comes as t...Published: 20 Feb 2019 at 22:37hrs | 834 | by Staff reporter
John Mangudya's Bonditary policy confirms US$100 salary for a teacher
I am not an economist, I am a subsistence farmer but with a little knowledge of economics that I grasped from my experiences with primary education, John Mangudya's latest Bonditary policy is going to...Published: 20 Feb 2019 at 19:11hrs | 6172 | by Don Chigumba
The current monetary policy review will worsen current fiscal imbalances
Background and Review It was trajectory, forex premiums is hurting Zimbabweans and hostile to business environment. FCA accounts have yielded positive r...Published: 20 Feb 2019 at 17:25hrs | 4087 | by Tinashe Eric Muzamhindo
Full RBZ Monetary Policy statement.
THE Reserve Bank of Zimbabwe (RBZ) has liberalised the US dollar exchange rate against real time gross settlement balances (RTGS), bond notes and all currencies in the multi-currency basket, as i...Published: 20 Feb 2019 at 14:48hrs | 6980 | by RBZ
New currency announced
Zimbabwe has introduced a new currency called the RTGS Dollars, the Reserve Bank of Zimbabwe Chief John Panonetsa Mangudya said during the Monetary Policy Statement delivered on Wednesday. ...Published: 20 Feb 2019 at 13:47hrs | 33314 | by Mandla Ndlovu
Zimbabwe Monetary policy highlights - RTGs now a currency
THE governor of the Reserve Bank of Zimbabwe (RBZ) Dr John Mangudya released the long-awaited Monetary Policy Statement (MPS) and below are the highights.-Interbank FX market.- Being establish...Published: 20 Feb 2019 at 13:40hrs | 4113 | by Staff reporter
Black market forex rates fairly stable since January
BLACK market foreign currency exchange rates have remained fairly stable for almost two months with dealers attributing the trend to a reduction in demand.A random assessment by NewZimbabwe.co...Published: 18 Feb 2019 at 07:14hrs | 2328 | by newzimbabwe
How can we rebuild our national consciousness when we do not have our own currency? The case for the return of the Zimbabwe doll
Zimbabwe has sixteen official languages set out in section six of the Zimbabwe Constitution. In terms of that esteemed document our country is a Christian nation. It respects Christian values and upho...Published: 17 Feb 2019 at 23:00hrs | 448 | by Lloyd Msipa
Pre-monitory policy statement expectations
Expectations are high as the market awaits the presentation of the first monitory policy statement (MPS) of 2019 by the Reserve Bank of Zimbabwe in the coming days. The bank knows the weight of hyperi...Published: 17 Feb 2019 at 22:58hrs | 1040 | by Victor Bhoroma
KFC spreads US$150m wings in Zimbabwe
South African giant Chicken Bird Holdings (CBH), the owners of fast-food Kentucky Fried Chicken (KFC) franchise in the country, have committed to invest US$150 million in Zimbabwe's agricultural secto...Published: 15 Feb 2019 at 08:32hrs | 843 | by Staff reporter
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 | 11868 | by Mandla Ndlovu
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 | 3602 | by Staff reporter
Bulawayo companies do not have required expertise, says Rainbow Hotel
Bulawayo Rainbow Hotel has lamented the lack of qualified personnel to take up employment at the hotel during its massive renovation project.The hotel has closed its doors to the public as it ...Published: 13 Feb 2019 at 16:32hrs | 4885 | by Cite.org
'Zimbabwe to introduce domestic currency'
Zimbabwe will reintroduce domestic currency only when conditions are ripe and critical economic fundamentals are in place since using the US dollar as an anchor currency is now unsustainable, accordin...Published: 08 Feb 2019 at 09:04hrs | 7158 | by Business weekly
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 | 7260 | by Respect Gwenzi
Zimbabwe diaspora are marginalised
Since Monday January 14, Zimbabwe's diaspora were horrified watching violent events unfold, and during the Internet shutdown, were petrified unable to contact family, friends and neighbours back home....Published: 06 Feb 2019 at 08:13hrs | 402 | by Pearl Matibe
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 | 10155 | by Pauline Hurungudo
'Mohadi involved in rape and murder' says Mliswa as he spills the beans
Norton Member of Parliament Temba Mliswa has accused vice President Kembo Dugish Campbell Mohadi of being involved in corruption, rape and murder. Mliswa says he is compiling a dossi...Published: 02 Feb 2019 at 09:32hrs | 8239 | by Mandla Ndlovu
Chiyangwa's COSAFA backs Infantino
SOUTHERN African countries have thrown their full weight behind FIFA president Gianni Infantino with COSAFA this weekend reaffirming as a bloc their support for the Swiss lawyer's bid for a fresh mand...Published: 28 Jan 2019 at 10:31hrs | 138 | by Staff reporter
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