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No, Mr. Chivayo, it's not your money, it's ours!
It's mind-boggling how easily some people slip into delusion.Wicknell Chivayo's recent outburst on social media - declaring that he has no obligation to assist public hospitals and can do what...Published: 20 May 2025 at 21:36hrs | 1471 | by Tendai Ruben Mbofana
Zimbabwe banker, SA banks implicated in R2 billion electoral scandal
A top Zimbabwean banker is at the centre of the nearly R2 billion Zimbabwe Electoral Commission (ZEC) tender scandal involving a South African printing company paid R1.2 billion by the Harare governme...Published: 08 May 2025 at 09:58hrs | 2456 | by Roland Mpofu I iol
ZACC arrests couple over US$415,000 Mbare biogas scandal
The Zimbabwe Anti-Corruption Commission (ZACC) has arrested two directors of a private company accused of looting over US$415,000 intended to bring clean energy to Mbare through a biogas project - a s...Published: 08 May 2025 at 09:44hrs | 373 | by Staff reporter
Chivayo responds to reports of bank limit adjustments
Businessman Wicknell Chivayo has strongly dismissed reports that he requested Ecobank to adjust two bank accounts to a US$20 million monthly limit after securing lucrative government contracts worth U...Published: 29 Jan 2025 at 18:49hrs | 14617 | by Staff reporter
Why Hollywoodbets appeals to both casual and serious bettors in South Africa
Hollywoodbets is a South African betting company that was established in 2000. The company initially started as a publishing company that was involved in distributing and publishing horse racing cards...Published: 20 Dec 2024 at 12:36hrs | 354 | by Staff Reporter
Mnangagwa to outline legislative agenda
President Emmerson Mnangagwa today officially opened the Second Session of the 10th Parliament, outlining the legislative agenda while delivering his State of the Nation Address to a joint sitting of ...Published: 02 Oct 2024 at 07:48hrs | 62 | by Staff reporter
Stanbic Bank expands its ATM network
Harare, 24 July 2024 - Stanbic Bank Zimbabwe has embarked on an exercise to expand its Automated Teller Machines (ATMs) in response to growing client demands.The move by the leading financial ...Published: 24 Jul 2024 at 09:01hrs | 429 | by Agencies
Zimbabwe banks on notice over excessive fees
Banks need to reduce excessive charges to improve financial inclusion, according to Finance, Economic Development, and Investment Promotion Deputy Minister David Mnangagwa. Speaking at the 202...Published: 22 Jul 2024 at 07:48hrs | 671 | by Staff reporter
Zimbabwe's new currency notes out this week
ZIMBABWEANS were transacting exclusively in United States dollars yesterday as the country began transitioning to the new currency — Zimbabwe Gold (ZiG) — following unveiling of the new gold-backe...Published: 07 Apr 2024 at 10:06hrs | 2 | by Staff reporter
Zimbabwe's an anti-poor budget
Finance, Economic Development and Investment Promotion minister Mthuli Ncube yesterday presented the ZWL$58,2 trillion 2024 national budget.According to the Treasury chief, the economy is proj...Published: 01 Dec 2023 at 04:55hrs | 12 | by Staff reporter
Zimdollar in first time gain on RBZ Auction
THE ZW$ value firmed up by 8,6% on the Reserve Bank of Zimbabwe Auction platform , signalling improved widespread usage of the local currency on the back of the economy's swift response to economic me...Published: 28 Jun 2023 at 20:27hrs | 2 | by Staff reporter
What draws the gold mafia to Dubai?
An Al Jazeera investigation shows how criminals use the city's pro-business policies to smuggle gold, clean dirty cash.https://www.youtube.com/watch?v=...Published: 06 Apr 2023 at 20:23hrs | 13 | by Al Jazeera Investigative Unit
Mnangagwa ally caught up in a US$400 000 corrupt upmarket house deal
PUBLIC Service, Labour and Social Welfare minister Paul Mavima is caught up in a US$400 000 corrupt upmarket house deal in Quinnington, Borrowdale, Harare, involving the National Social Security Autho...Published: 26 Feb 2023 at 10:41hrs | 49 | by Staff reporter
'Zimbabwe's $5 000 withdrawal limit no longer adequate'
THE transacting public has implored the Reserve Bank of Zimbabwe (RBZ) to consider increasing cash withdrawal limits saying the weekly $5 000 cap is no longer convenient given the exchange rate moveme...Published: 02 Feb 2023 at 08:24hrs | 1 | by Staff reporter
Legitimate Zifa exec tears into audit report
Felton Kamambo's fired Zifa executive has claimed that the audit report on the association's finances compiled by BDO Chartered Accountants exonerates them from any wrongdoing.Kamambo and his ...Published: 02 Nov 2022 at 05:06hrs | 1 | by Staff reporter
Stop govt, Zanu-PF conflation
WHILE corruption and misgovernance have a bearing on the chaos at most parastatals, the main problem is plunder of money and other resources at these institutions by the ruling Zanu-PF party and fatca...Published: 04 Jul 2022 at 06:58hrs | | by Mukunda Chitova
WorldRemit closes transfers to Zimbabwe banks
British-based digital payments service, WorldRemit has announced its removal of direct bank transfers to Zimbabwean accounts in favour of mostly cash transactions.This came a month after Zimba...Published: 18 Jun 2022 at 07:28hrs | 13 | by Staff reporter
ZCTU slams Mnangagwa
THE Zimbabwe Congress of Trade Unions has slammed President Emmerson Mnangagwa for implementing a raft of economic stabilisation measures before consulting with partners at the Tripartite Negotiation ...Published: 16 May 2022 at 06:27hrs | 4 | by Staff reporter
Mnangagwa panicking over Zimdollar
President Emmerson Mnangagwa has been summoning business owners his government believes are manipulating the Zimbabwe dollar to fuel anger over his rule amid growing fears an economic implosion could ...Published: 15 May 2022 at 06:14hrs | 6 | by Staff reporter
RBZ extends loan ban to individuals, corporates
THE Reserve Bank of Zimbabwe (RBZ) has extended the suspension of lending of both local and foreign currency units by an array of financial institutions to also cover corporates and individuals....Published: 11 May 2022 at 09:10hrs | | by Staff reporter
Currency: The long road of pain awaiting Zimbabwe
IN June 2019, the Zimbabwe dollar was officially reintroduced as the main legal tender for domestic transactions in the country amid scepticism from the general public concerning its sustainability. T...Published: 17 Mar 2022 at 05:49hrs | 1 | by Staff reporter
Monetary Policy Analysis
The Reserve Bank of Zimbabwe (RBZ) presented its first monetary policy statement for 2022 on the 7th of February. The monetary policy comes after a 53.5% surge in foreign currency receipts from US$6.3...Published: 23 Feb 2022 at 19:41hrs | 13 | by Victor Bhoroma
'$5,000 withdrawal limit not enough'
DEPOSITORS have said the $5 000 weekly withdrawal limit was not enough as the amount does not meet their cash needs such as daily transport cost for members and cash rentals being demanded by landlord...Published: 10 Feb 2022 at 05:31hrs | | by Staff reporter
No joy from RBZ governor
RESERVE Bank of Zimbabwe (RBZ) governor John Mangudya yesterday declined to increase cash withdrawal limits to match recent price hikes, as he battled to limit cash in circulation in order to fight in...Published: 08 Feb 2022 at 05:37hrs | 1 | by Staff reporter
Mangudya ranked worst performing central bank governor in Africa
The Central Banker Report Cards, published annually by Global Finance since 1994, grade the central bank governors of 101 key countries and territories, including the European Union, the Eastern Carib...Published: 12 Jan 2022 at 05:13hrs | 15 | by Staff reporter
Man faces money laundering charges
A 24-year-old Chitungwiza man yesterday appeared in court on allegations of money laundering involving unknown funds deposited into a Visa card account and then withdrawn from an ATM in Ivory Coast....Published: 30 Dec 2021 at 07:50hrs | 11 | by Staff reporter
Govt earmarks US$120m for bonuses
GOVERNMENT released US$120 million to pay civil servants' bonuses in foreign currency in a bid to cushion them against the inflationary environment that has been experienced in the past few months....Published: 12 Dec 2021 at 19:54hrs | 10 | by Staff reporter
'Banks cash in on civil servants bonus'
SOME local banks are reportedly cashing in on civil servants' United States dollar bonuses through compulsory liquidation of their 13th cheque into local currency.This comes at a time when the...Published: 04 Dec 2021 at 07:21hrs | 10 | by Staff reporter
EcoCash shrugs headwinds to posts solid results
EcoCash Holdings Zimbabwe Limited, formerly Cassava Smartech Zimbabwe Limited, reported solid operating results for the year ended February 28, 2021, despite strong economic headwinds in the country d...Published: 19 Oct 2021 at 06:31hrs | 4 | by Staff reporter
Cyril Ramaphosa appears to be using the ANC's step-aside rule to target, purge political opponents
President Cyril Ramaphosa increasingly appears to be using the ANC's "step-aside" rule to target and purge his political opponents, while affirming his untouchable supporters, before next year's elect...Published: 10 Aug 2021 at 09:25hrs | 2 | by Clyde Ramalaine
Zimbabwe back to trillion-figure era
THE Reserve Bank of Zimbabwe (RBZ) says the value of transactions processed through the national payment systems hit the $1,24 trillion mark during first quarter of this year, rising by 9% from $1,13 ...Published: 09 Jun 2021 at 07:18hrs | 1 | by Staff reporter
Grace Mugabe's huge daily cash withdrawals exposed
FORMER first lady Grace Mugabe allegedly made multiple United States dollar cash withdrawals amounting to US$300 000 per day in 2019 from her CBZ Bank account at a time ordinary Zimbabweans were allow...Published: 23 Apr 2021 at 07:31hrs | 1 | by Staff reporter
Mthuli Ncube refuses to increase cash withdrawal limits
FINANCE minister Mthuli Ncube says there is no need to increase the weekly $2 000 bank withdrawal limit for individuals as a move to combat the black market. This comes as the Treasury chief a...Published: 28 Mar 2021 at 16:25hrs | 1 | by Staff reporter
Zimbabwe's $50 note imminent
Zimbabwe announced on Thursday that it would shortly introduce a $50 note, while raising cash withdrawal limits to Z$2,000 per day from Z$1,000.The central bank also lifted its main lending ra...Published: 21 Feb 2021 at 22:30hrs | 5 | by Staff reporter
Zimbabwean expats keep country afloat, remits $1 billion
Diaspora remittances to Zimbabwe jumped a record 58 percent from US$635.7 million to US$1 billion in 2020, the central bank said on Thursday, highlighting the key role played by expatriates in keeping...Published: 19 Feb 2021 at 07:24hrs | 5 | by Staff reporter
Cash withdrawal limits, lending rates go up
THE Reserve Bank of Zimbabwe (RBZ) has increased withdrawal limits to $2 000 from $1 000 and reviewed upwards the bank policy and private sector lending rates as part of comprehensive measures to stre...Published: 19 Feb 2021 at 06:49hrs | 1 | by Staff reporter
High inflation drives cost of living
USAID food security arm, FEWS NET, says the cost of living in rural and urban areas continues to increase mainly driven by high inflation. In FEWS NET's December 2020 report, the food security organis...Published: 03 Jan 2021 at 07:43hrs | 10 | by Staff reporter
Xmas rush exposes banks
A STEEP rise in demand for liquid cash experienced during the Christmas period exposed weaknesses in Zimbabwe's electric money strategy, a NewsDay Business survey revealed. Clients said electr...Published: 01 Jan 2021 at 07:39hrs | 11 | by Staff reporter
More heads to roll at parastatals
PUBLIC officials in State-owned enterprises (SOEs) and Government departments might soon face the music after the Auditor-General, Mrs Mildred Chiri, uncovered continued dereliction of duty and deep-s...Published: 30 Jun 2019 at 09:02hrs | 2 | by Staff reporter
ZETDC exposed on transformer purchases
THE Zimbabwe Electricity and Distribution Company, a subsidiary of the Zimbabwe Electricity Supply Authority, has not taken delivery of transformers it paid US$4,9 million for nine years ago, the Audi...Published: 29 Jun 2019 at 16:42hrs | | by Staff reporter
It's up to us to make Zimdollar work
The record needs to be set straight that Finance minister Mthuli Ncube has done nothing outrageous and/or unprecedented by banning the use of foreign currencies in domestic transactions.Accord...Published: 28 Jun 2019 at 06:25hrs | 1 | by Conway Tutani
International remittances recipients to get forex
Recipients of international remittances will continue receiving money in hard currency following the abolishment of multi-currency system or can be paid in local currency at a prevailing official exch...Published: 27 Jun 2019 at 06:35hrs | 1 | by Staff reporter
RBZ dismisses false reports on foreign currency
The Reserve Bank of Zimbabwe has dismissed information circulating on social media that banks have been instructed to any cash withdrawal of forex by clients. Zimbabwe was abuzz with informati...Published: 26 Jun 2019 at 10:57hrs | 1 | by Mandla Ndlovu
Foreign aid dreadful, unnecessary!
ZIMBABWE does not need foreign aid to escape this economic malaise. Our leaders have been saying it so many times that the country's hope lies on a bailout package; the quicker we get it, the better, ...Published: 06 Jun 2019 at 07:30hrs | | by Blessing Machiva
Zimbabwe tobacco farmers hold firm to their crop
Tobacco farmers have continued to hold on to their crop amid reports that they have only delivered less than 10% of the golden leaf in the first five days of trading this year, citing poor prices and ...Published: 28 Mar 2019 at 07:48hrs | | by Staff reporter
Mthuli Ncube scraps 2% tax on tobacco floors activities, normalcy returns
Activities at the country's Tobacco Auction Floors are expected to improve this week following the scrapping of the 2 percent electronic transfer tax on all activities being done at the country's toba...Published: 25 Mar 2019 at 22:50hrs | 1 | by Staff reporter
RBZ executive wants to be removed from remand
Reserve Bank of Zimbabwe (RBZ) financial intelligence unit director Mirirai Chiremba has said he will apply for refusal of further remand during his next court appearance. Chiremba appea...Published: 03 Mar 2019 at 01:01hrs | 1 | by Staff reporter
Woman flees from court
A Harare medical doctor's wife, who was dragged to court by her husband of two months, was convicted yesterday but fled from court before sentence.Christina Hamilton was convicted by Harare re...Published: 13 Feb 2019 at 15:38hrs | 29 | by Staff reporter
Woman jailed 8 years for $400 000 fraud
A WOMAN from Bulawayo who was employed as an agent by ZB Bank has been sentenced to eight years in jail for swindling the banking institution of more than $400 000 through fraudulent electronic transa...Published: 09 Feb 2019 at 07:10hrs | | by Staff reporter
Mangudya expected to tackle fiscal rot
CENTRAL bank chief John Mangudya will have to make bold monetary policy decisions or risk the country sliding back into hyperinflation, analysts say.Mangudya, who is yet to present his much-an...Published: 08 Feb 2019 at 08:51hrs | 1 | by Staff reporter
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