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Zimbabwe central bank urges banks to increase ZiG lending
With the Zimbabwe Gold (ZiG) currency now largely stable, the Reserve Bank of Zimbabwe (RBZ) has urged banks to increase lending in ZiG, assuring financial institutions that the risk of depreciation h...Published: 01 Mar 2025 at 08:56hrs | 205 | by Staff reporter
Zimbabwe central bank widens blitz on defiant business
The Reserve Bank of Zimbabwe (RBZ) has announced an expanded blitz targeting businesses across the country that are refusing to comply with government directives on the use of the multicurrency system...Published: 05 Feb 2025 at 11:42hrs | 351 | by Staff reporter
Zimbabwe govt says 'no shortages of basic commodities'
The Government has dismissed claims of shortages of basic commodities in the formal market, attributing the perceived scarcities to economic agents redirecting supplies to the informal sector. In a po...Published: 15 Oct 2024 at 08:28hrs | 167 | by Staff reporter
Used clothes take Zimbabwe by storm
Kimberley Dube takes great care with her appearance. She always looks sharp and fashionable in smart-looking jeans, t-shirts, sweatpants, tops, and designer sneakers."I love jeans - can't get ...Published: 02 Oct 2024 at 11:24hrs | 669 | by Staff reporter
RBZ raises bank policy rate to 35%
The Reserve Bank of Zimbabwe (RBZ) has announced significant measures to tackle resurgent exchange rate volatility and mitigate inflationary pressures. Effective immediately, the bank policy rate has ...Published: 27 Sep 2024 at 15:29hrs | 1326 | by Staff reporter
Currency crisis piles more misery on fragile Zimbabwe economy
Leading economists have raised concerns over the potential economic impact of the recent waves of price hikes and currency volatility, which threaten to further destabilize an already fragile economy....Published: 20 Sep 2024 at 13:12hrs | 3500 | 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 | 6536 | by Staff reporter
Shops dump ZiG official rate for two-tier pricing system
Just like other Zimbabwean currencies introduced since the year 2000, the Zimbabwe Gold (ZiG) currency is already showing signs of instability barely half a year after its introduction, with many shop...Published: 08 Sep 2024 at 13:51hrs | 9591 | 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 | 6042 | 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 | 3 | by Staff reporter
RBZ to investigate schools inflating fees using black market rates
The Financial Intelligence Unit (FIU) of the Reserve Bank of Zimbabwe (RBZ) has said it will investigate and take punitive measures against schools that are inflating figures of school fees in local c...Published: 13 Aug 2023 at 08:58hrs | 36 | by Staff Reporter
Money-spinning in Zimbabwe shadow economy
WHILE local shoppers traditionally flocked to big groceries and supermarkets for bargains on consumer goods, of late, they have been trooping to "tuckshops" in downtown Harare, where basic commodities...Published: 25 Jun 2023 at 09:31hrs | 6 | by Staff reporter
Mthuli Ncube's import duty waiver on basic goods praised
ZIMBABWEANS have applauded the Government for lifting all restrictions on the import of basic commodities to boost market supplies and granting a 100 percent retention of domestic foreign currency ear...Published: 06 Jun 2023 at 06:17hrs | | by Staff reporter
Zimbabwe civil servants vow to escalate wage demands to Mnangagwa
Civil servants have threatened to escalate their wage demands to President Emmerson Mnangagwa if government officials under the Zimbabwean leader continuously fail to heed their calls.Under th...Published: 27 May 2023 at 09:07hrs | 1 | by Staff reporter
Forex speculators to face disciplinary action
THE market should expect significant restoration of stability in the pricing of basic goods in response to comprehensive Government measures while disciplinary action will be swiftly meted against bus...Published: 23 May 2023 at 06:34hrs | 2 | by Staff reporter
Outcry over school fees hike
SCHOOLS open today for the second term with parents and guardians raising concerns over sharp increases in fees amid economic turmoil.The unaffordable fees demanded by schools follow revelatio...Published: 09 May 2023 at 06:05hrs | 81 | by Staff reporter
Outcry over school fees hike
SCHOOLS open today for the second term with parents and guardians raising concerns over sharp increases in fees amid economic turmoil.The unaffordable fees demanded by schools follow revelatio...Published: 08 May 2023 at 06:13hrs | 3 | by Staff reporter
'Zimbabwe central bank selling gold coins at a loss'
THE Reserve Bank of Zimbabwe (RBZ) is making a huge loss by selling gold coins in local currency using the official rate as the Zimbabwean dollar continues on a free fall, a local think tank has said....Published: 27 Apr 2023 at 06:32hrs | 1 | by Staff reporter
'Black market rates to fall,' dreams RBZ
THE Reserve Bank of Zimbabwe (RBZ) is set to introduce a gold-backed digital currency to be used as legal tender for transacting in the country as part of interventions to stabilise the local currency...Published: 23 Apr 2023 at 07:48hrs | 1 | by Staff reporter
Kombi operators hike fares
COMMUTER omnibus operators in Bulawayo have increased fares in local currency by almost 100 percent.This has drawn condemnation from commuters who feel the hike is unjustified given that the p...Published: 07 Apr 2023 at 09:11hrs | | by Staff reporter
Zimbabwe govt to resume school feeding
GOVERNMENT is set to resume the schools feeding programme whose aim is to nourish learners and reduce absenteeism due to hunger.Government initiated the schools feeding programme whereby schoo...Published: 14 Nov 2022 at 05:11hrs | | by Staff reporter
Rains expose Bulawayo council's shoddy job
SEVERAL roads in Bulawayo are riddled with potholes making them a death trap following the onset of the rainy season, a development that has exposed the city council for doing a shoddy job in terms of...Published: 10 Nov 2022 at 04:52hrs | 66 | by Staff reporter
Zupco fare hike a harbinger of what lies ahead
THESE are, indeed, interesting times.The State-controlled Zimbabwe United Passenger Company (Zupco) last week hiked its fares as well as the exchange rate for all its routes. This increase com...Published: 08 Nov 2022 at 05:07hrs | | by Staff reporter
Govt clamps down on advance payments
Treasury is working on stringent measures to regulate advance payments for contractors, after some failed to deliver on their contractual obligations and others indulged in financial speculation on th...Published: 30 Aug 2022 at 06:30hrs | 2 | by Staff reporter
Zimbabwe black market rates tumble
A raft of robust economic measures put forward by President Mnangagwa and his administration have proved to have a stabilising effect on the national economy as they managed to arrest the parallel mar...Published: 21 Aug 2022 at 08:43hrs | 6 | by Staff reporter
Interest rate hike haunts black market kingpins
Interventions by the Reserve Bank of Zimbabwe (RBZ) to stem prolonged currency battering have sent black market rates tumbling by over 50 percentage points within a month, Inter Horizon Securities (IH...Published: 16 Aug 2022 at 06:40hrs | 2 | by Staff reporter
Mnangagwa says Zimbabwe banks have gone rogue
PRESIDENT Emmerson Mnangagwa says most of Zimbabwe's banks have gone "rogue" and are operating in contravention of the country's laws.Writing in his column in The Sunday Mail, he said only 31%...Published: 15 Aug 2022 at 06:43hrs | | by Staff reporter
Zimbabwe currency speculators cornered?
THE retreat of the recent inflation spiral is expected to accelerate, and purchasing power increase in light of recent pay rises without matching price rises, as speculative market forces are being co...Published: 15 Aug 2022 at 06:38hrs | | by Staff reporter
Mnangagwa gets tough on Government's procurement process
PRESIDENT Mnangagwa has spoken tough on the Government procurement process saying he is going to ensure that no public resources will be used to finance economic hitmen and women as has been the case ...Published: 14 Aug 2022 at 07:19hrs | 4 | by Staff reporter
Democratisation of mine workers representation platform critical to build an inclusive NEC
HARARE: Zimbabwe has a monopolistic mine workers' representation system which constitutes National Chamber of Mines and AMWUZ - Associated Mine Workers Union of Zimbabwe.This uneven terrain in...Published: 22 Jul 2022 at 21:54hrs | 3 | by Maxwell Teedzai
RBZ summons retailers, manufactures
RETAILERS and manufacturers have been summoned to a no-holds-barred meeting on price hikes by the Financial Intelligence Unit (FIU), a unit of the Reserve Bank of Zimbabwe, especially against the back...Published: 17 Jul 2022 at 09:05hrs | 1 | by Staff reporter
Interbank rate now sole legal rate, huge penalties for breaches
The interbank exchange rate has been set as the sole exchange rate to be used in commercial and other transactions and anyone selling goods and services, who uses any other rate faces a minimum civil ...Published: 29 Jun 2022 at 07:42hrs | 1 | by Staff reporter
Basic goods prices gallop in Zimbabwe
Bulawayo residents have called for Government controls as prices of basic commodities are increasingly getting out of reach for the majority of citizens, with retailers having adopted different foreig...Published: 02 Jun 2022 at 06:43hrs | 12 | by Staff reporter
Retailers defy Mnangagwa on pricing
RETAILERS have defied President Emmerson Mnangagwa's directive to adhere to the official interbank rate when pricing goods.On Saturday, Mnangagwa announced a raft of measures aimed at controll...Published: 10 May 2022 at 07:46hrs | 1 | by Staff reporter
Please help and protect the rural consumer
Urbanites by way of proximity to big supermarkets are enjoying wallet-friendly monetary rates whilst rural villagers are singing the blues. Pensioners and communal farmers buy all basic commod...Published: 12 Apr 2022 at 16:42hrs | 11 | by Tondo Murisa
NPRC bemoans underfunding
THE National Peace and Reconciliation Commission (NPRC)'s activities have been affected by underfunding, which has crippled its operations, the commission said in its 2021 annual report tabled in Parl...Published: 11 Apr 2022 at 06:36hrs | 1 | by Staff reporter
RBZ releases US$100 million to clear auction backlog
THE Reserve Bank of Zimbabwe has released US$100 million to clear the backlog of foreign currency allocations at the RBZ's weekly auctions, Governor Dr John Mangudya said.The central bank intr...Published: 30 Mar 2022 at 07:18hrs | 1 | by Staff reporter
Ncube rules out dollarisation
FINANCE minister Mthuli Ncube has ruled out dollarisation even as the situation on the ground shows that the economy is self-dollarising as the local currency slides and prices of basic goods and serv...Published: 25 Feb 2022 at 07:20hrs | 1 | by Staff reporter
CCZ slams 'record breaking' super-profits in sea of poverty
THE Consumer Council of Zimbabwe (CCZ) yesterday slammed business for abetting hardships, saying a significant number of firms accessing cheap foreign currency at the auction market were indexing pric...Published: 17 Feb 2022 at 05:41hrs | 1 | by Staff reporter
RBZ tightens screws in inflation battle
THE Reserve Bank of Zimbabwe (RBZ) has further reduced its quarterly reserve money (cash available for use in the economy) target, cutting it to 7,5 percent from 10 percent.The measures are pa...Published: 08 Feb 2022 at 05:33hrs | 2 | by Staff reporter
RBZ boss rules out chasing black market rates
Reserve Bank of Zimbabwe Governor, John Mangudya, is reluctant to act to narrow a widening gap between the national currency's official and black market rates, saying that businesses are to blame for ...Published: 19 Jan 2022 at 05:29hrs | 1 | by Staff reporter
Vultures around Mnangagwa plundering country resources in daylight
When Mnangagwa (ED) took over the reins of ZANU PF and the leadership of the country, he declared that he was, ‘as soft as wool.' As we have all watched the man on the job, it is now evident that ED...Published: 11 Jan 2022 at 16:22hrs | 2 | by Sam Wezhira
Black market rates hurt Zimbabwe economy
GOVERNMENT should take bold steps to tackle the continued speculative parallel market activity whose obscene exchange rates are hurting the entire economy, economist and former Reserve Bank of Zimbabw...Published: 05 Jan 2022 at 05:55hrs | | by Staff reporter
Record wheat harvest for Zimbabwe
More than 188 000 tonnes of wheat have been delivered to the Grain Marketing Board (GMB), which represents a significant increase from 149 874 tonnes that had been delivered during the same period las...Published: 21 Nov 2021 at 08:17hrs | 62 | by Staff Reporter
Zimbabwe's banks overwhelmed
ZIMBABWE'S banking system has been overwhelmed by rocketing demand for United States dollars on the foreign currency auction system, the central bank said on Tuesday, as it moved to adjust bidding lea...Published: 10 Nov 2021 at 05:34hrs | 9 | by Staff reporter
Shops continue using 'illegal' rates
WARNINGS by the Reserve Bank of Zimbabwe's (RBZ) Financial Intelligence Unit and the recent arrest of directors of some top companies over foreign currency manipulation seem to have fallen on deaf ear...Published: 21 Oct 2021 at 06:17hrs | 1 | by Staff reporter
Mnangagwa's ignorance on economics: Mthuli Ncube his best Boss ever
Even Mnangagwa's law degree is questioned by many. If Mnangagwa had a slender idea how the economy works, they would never launder money to Chinese banks in billions of dollars. He would know that kis...Published: 15 Oct 2021 at 18:45hrs | 15 | by Nomazulu Thata
'Forex rentals at blackmarket rates illegal'
PROPERTY owners and managers demanding rentals in foreign currency, without giving tenants an option to pay the equivalent in local currency using the auction rate, risk being arrested as the fight ag...Published: 14 Oct 2021 at 06:21hrs | | by Staff reporter
RBZ directs banks to detect currency abusers
THE Reserve Bank of Zimbabwe (RBZ) has directed banks to configure their automated transaction systems in order to implement robust mechanisms that detect the abuse of debit cards in facilitating ille...Published: 14 Oct 2021 at 06:20hrs | 5 | by Staff reporter
RBZ summons businesses over price madness
RESERVE Bank of Zimbabwe (RBZ) Governor Dr John Mangudya yesterday said his meeting with business this morning is not a witchhunt, but an effort by authorities to grasp the root cause of the prevailin...Published: 11 Oct 2021 at 05:54hrs | 2 | by Staff reporter
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