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Zimbabwe currency crisis: Time to face the truth
THERE is, of course, no such thing as "a shortage of foreign currency".In open and disciplined markets, all that such a claim reflects is an over-valued local currency, whose managers resist t...Published: 07 Apr 2024 at 10:26hrs | 1 | by Obert Nyandoro
Zimdollar further tumbles against US dollar
The cost of goods and services keeps on increasing in Zimbabwe as the local currency depreciates against the U.S. dollar, a trend that accelerated at the beginning of 2024.The local dollar, which ...Published: 18 Jan 2024 at 17:52hrs | | by Staff reporter
Why would Zimbabweans vote for a president simply because of a borehole?
The ongoing so-called 'star rallies' by the ruling ZANU PF leaves my mouth dry and speechless.As to be expected, when campaigning to be voted into public office - more so, for a sitting presid...Published: 03 Aug 2023 at 07:30hrs | 7 | by Tendai Ruben Mbofana
Forex rate premium falls
THE parallel market exchange rate premium has fallen below 50 percent, as policy interventions by the Government continue to drive appreciation of the Zimbabwe dollar, but pockets of resistance remain...Published: 02 Jul 2023 at 07:37hrs | 7 | by Staff reporter
Unpacking Zimbabwe's 'well-educated' myth
The widely acclaimed narrative - correlation fallacy - that Zimbabweans are "well educated" and are some of the highly literate people on this continent is a myth. Myths build egos, not economies; nei...Published: 09 Jun 2023 at 06:47hrs | 61 | by Rejoice Ngwenya
Zimdollar further depreciates US$
THE Zimbabwe dollar has continued its freefall against the greenback, with results from the Reserve Bank of Zimbabwe (RBZ)'s foreign currency auction on Tuesday showing that it is trading at $732 to t...Published: 19 Jan 2023 at 07:31hrs | | by Staff reporter
Africans' 'victim mentality' now sickening and disgraceful!
I know what racism, racial segregation and discrimination are - having spent the first seven years of my life under colonial rule in the then Rhodesia.Thereafter, facing the same at the dawn o...Published: 20 Sep 2022 at 12:32hrs | | by Tendai Ruben Mbofana
Zimdollar depreciates by 5, 8% on the RBZ Foreign Exchange Auction
THE Zimdollar value has depreciated by 5, 8% against the greenback on the Reserve Bank of Zimbabwe (RBZ) Foreign Exchange Auction.Market watchers believe the development is a positive step whi...Published: 23 Aug 2022 at 19:49hrs | | by Staff reporter
'The Reserve Bank of Zimbabwe is not creating money'
The Sunday Mail Editor Victoria Ruzvidzo (VR) had a no-holds-barred interview with RBZ Governor Dr John Mangudya (JM) on the latest developments in the economy, among them suspension of bank lending, ...Published: 05 Jun 2022 at 09:00hrs | 1 | by Staff reporter
'Zimbabwe Reserve Bank is not creating money'
The Sunday Mail Editor Victoria Ruzvidzo (VR) had a no-holds-barred interview with RBZ Governor Dr John Mangudya (JM) on the latest developments in the economy, among them suspension of bank lending, ...Published: 22 May 2022 at 08:26hrs | 10 | by Staff reporter
'The Reserve Bank is not creating money'
The Sunday Mail Editor Victoria Ruzvidzo (VR) had a no-holds-barred interview with RBZ Governor Dr John Mangudya (JM) on the latest developments in the economy, among them suspension of bank lending, ...Published: 15 May 2022 at 06:12hrs | 7 | by Staff reporter
Zimbabwe loans suspension review this week
The Reserve Bank of Zimbabwe (RBZ) will this week review the suspension of bank lending that was recently announced, as it moves to investigate contractors on allegations they have been fuelling the p...Published: 15 May 2022 at 06:11hrs | 1 | by Staff reporter
Banks: If gold rusts, what will iron do?
Native Commissioner Oates, I presume!LORD Jonathan Oates' ambition is becoming a latter-day colonial Native Commissioner.Too late chum, both by age and history! Still both don't deter ...Published: 14 May 2022 at 06:22hrs | 3 | by @Jamwanda2 on Saturday
Action, not rhetoric, Sir
DEAR President Emmerson MnangagwaYour Excellency, if truth be told, Zimbabwe ought not have been in a persistent vegetative state. She was the jewel of Africa at independence in 1980. Yet, eve...Published: 13 Apr 2022 at 06:41hrs | | by Cyprian M Ndawana
Smith was right when he predicted that Blacks, not necessarily ZANU PF, would destroy Zimbabwe!
I really get thoroughly disappointed with the direction in which our country has gone.In fact, disappointment is never the appropriate word - rather, anger and downright infuriation.Of...Published: 19 Jan 2022 at 12:02hrs | | by Tendai Ruben Mbofana
Authorities unleash sweeping crackdown on forex market
IN a renewed bid to contain the runaway foreign exchange rate - now trading at double the official rate around US$1: ZW$170 - the government has launched a fierce crackdown on currency traders in a mu...Published: 03 Oct 2021 at 08:19hrs | 7 | by Staff reporter
Reserve Bank panics as exchange rates spiral
MONETARY authorities revised annual inflation targets upwards on Monday before lining up a sea of fresh policy proposals to government, as they scurried to stem a "worrisome" surge in parallel market ...Published: 01 Oct 2021 at 08:02hrs | | by Staff reporter
Robbers prey on mistrust of financial system
TARIRO remembers hearing a sudden bang on her kitchen door, the kind that produces shivers. She peaked through the window and saw 10 men armed with iron crowbars. They wanted to enter.The 54-y...Published: 24 Sep 2021 at 09:45hrs | | by Staff reporter
'Serious dialogue critical to end Zimbabwe woes'
ZIMBABWE'S economic woes will persist until there is serious dialogue among key domestic players in politics and the international community, renowned banker Nigel Chanakira has said.Chanakira...Published: 29 Jan 2021 at 07:11hrs | 6 | by Staff reporter
Zimdollar depreciates
The local currency depreciated by almost a percentage point on Tuesday in an auction which failed to make allotments on all qualified bids. The Zimbabwe dollar was quoted at 82.6756 after depreciating...Published: 27 Jan 2021 at 06:10hrs | | by Staff reporter
The soft peg and local economic stability
Zimbabwe introduced the Dutch inspired foreign exchange auction system on the 23th of June to replace the fixed exchange rate (hard peg) of US$1: ZW$25 that had been in existence since 26 March 2020. ...Published: 08 Jan 2021 at 20:58hrs | | by Victor Bhoroma
Zimdollar depreciates
Parallel market Zipit rates have held steady within the 110-115 range although it seems that volume sellers were scarce within the past couple of days. At the same time, the local currency slipped aga...Published: 22 Dec 2020 at 17:40hrs | 2 | by Staff reporter
Zimdollar depreciates 0.57% to 83.40 against the US dollar
The Zimbabwean dollar depreciated 0.576% to 83.3994 from last week's 82.9184 as the spread between bids narrowed further. While this is a step in the right direction in terms of price sta...Published: 25 Aug 2020 at 18:05hrs | | by Staff reporter
Zimbabwe's currency options
IT goes without saying that pursuant to the adoption of the multi-currency system in Zimbabwe in January 2009 until about 2015, one could withdraw up to US$5 000 from an automated teller machine. Over...Published: 24 Sep 2018 at 07:28hrs | 8 | by Colls Ndlovu, Economist
Is multi-tier pricing the problem or symptom?
As Zimbabwe's central bank tries to calm the problem it caused in the market through the introduction of bond notes in November 2016, questions have been raised on whether the multi-tier pricing syste...Published: 26 Jun 2018 at 07:17hrs | | by Victor Bhoroma
The retired general Chiwenga siege of the Zimbabwe Nurses Assiciation
Military rule governs more by an iron fist than sanity! Breathes more by the hand than the nostrils! Feels more by the foot than the heart! Relies more on emotional turbo-drive Animal Farm judgment th...Published: 24 Apr 2018 at 23:32hrs | | by Evangelist Reginald Thabani Gola
Zimbabwe is a broken society, says Moyo
Former Confederation of Zimbabwe Industries (CZI) president Busisa Moyo has said Zimbabwe is now a broken society due to lack of unity and dialogue.He accused authorities of introducing polici...Published: 01 Jul 2017 at 12:48hrs | | by Staff reporter
Our major problem not an economic crisis, but a crisis of education
Our people are still being taught that they need to go to school, get high grades, get a high paying job, save money, buy a house, invest in stock markets, and be self-employed.Needless to say...Published: 28 Mar 2017 at 11:01hrs | | by Tendai Ruben Mbofana
Zimbabwe government rules out rand adoption
Government will not adopt the South African rand, nor will it reintroduce the Zimbabwe dollar until macro-economic fundamentals are addressed, legislators heard yesterday.Finance and Economic ...Published: 03 Feb 2017 at 10:28hrs | | by Staff Reporter
Better alternatives to Zimbabwe import ban exist
In June 2016 the Zimbabwean government instituted the infamous Statutory Instrument 64 of 2016 banning the importation of basic commodities such as bottled water, sugar, soap, cooking oil, cellpho...Published: 17 Aug 2016 at 10:52hrs | | by Lovemore Fuyane
Mujuru cannot afford to ignore Tsvangirai
A few weeks ago former Vice President Joice Mujuru issued an apology to the nation. She apologised for her role in Zanu-PF, which is generally held accountable for the country's socio-economic woes ar...Published: 19 Jun 2015 at 21:15hrs | | by Dr Alex Magaisa
Bond coins or not there is just no going back
February 2015 will mark six years since Zimbabwe adopted the multi-currency monetary system, commonly referred to as dollarization. The move was in response to the chaotic hyperinflationary period tha...Published: 05 Jan 2015 at 10:45hrs | | by Perry Munzwembiri
'US dollar done more harm to Zimbabwe'
The government has been urged to consider initiating a national dialogue on currency reforms in order to come up with an innovative currency system that promotes exports and therefore revives industr...Published: 02 Jan 2015 at 17:35hrs | | by Staff Reporter
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