Search / Dollarisation
Zimbabwe's US dollar question
The Zimbabwean economy is marred by contradictions with some sectors allowed to trade in foreign currency while others are excluded. This was the message that Confederation of Zimbabwe Industr...Published: 8 hrs ago | 1878 | by Staff reporter
Pay civil servants in stable US dollar
Every civil servant must be paid in foreign currency.Business is now refusing to take payments in bond notes, EcoCash and swipe or transfer.Why would business accept a currency that is...Published: 17 hrs ago | 1904 | by Pardon Makunike
US dollar fuel helps save forex, claims Mangudya
The move by the central bank to allow all fuel service stations with free funds to import fuel for sale in foreign currency, will help the economy save much-needed critical foreign currency, Reserve B...Published: 19 hrs ago | 410 | by Staff reporter
Mangudya dodges questions on 'risky' depositors
Reserve Bank of Zimbabwe governor John Mangudya yesterday refused to publicly disclose the identity of the 200 depositors who own the bulk of the $34,5 billion bank deposits in the country.Man...Published: 25 Feb 2020 at 06:55hrs | 1714 | by Staff reporter
IMF reviews Zimbabwe economic outlook
THE International Monetary Fund (IMF) has started reviewing projected economic outlook for Zimbabwe for 2020 with preliminary indications pointing to a number of headwinds the lender thinks may weigh ...Published: 25 Feb 2020 at 06:52hrs | 622 | by Staff reporter
Mangudya tells MPs to blame Govt, not RBZ
RESERVE Bank of Zimbabwe (RBZ) governor John Mangudya says the central bank should not be blamed for the country's often unpopular monetary policies but blame should be directed towards policy makers ...Published: 25 Feb 2020 at 06:29hrs | 542 | by newzimbabwe
Biti accuses RBZ of carrying out rogue money printing activities
MDC Vice President and Harare East MP, Tendai Biti accused the RBZ of carrying out rogue money printing activities."For those the gods are about to destroy they first make mad. Law does not al...Published: 25 Feb 2020 at 06:28hrs | 211 | by Staff reporter
Mangudya defends Mnangagwa linked Zuva for selling fuel in forex
THE coming in of more fuel service stations licensed to sell in foreign currency will not jeopardise the de-dollarisation process, but will increase options for motorists and help bring more forex fro...Published: 24 Feb 2020 at 06:31hrs | 1878 | by Staff reporter
Mangudya under fire over currency
The collapse of the Zimbabwe dollar and government's denial that the country is dollarising will precipitate a collapse of the economy, a local securities firm has warned.According to a review...Published: 23 Feb 2020 at 08:37hrs | 2417 | by Staff reporter
Govt speaks on forex fuel sales
AUTHORITIES say people should not panic over the decision to allow fuel companies with free funds to import and sell petrol and diesel in foreign currency ' as this is part of measures needed to...Published: 22 Feb 2020 at 16:48hrs | 1350 | by Staff reporter
Zimra faces taxation challenges
The Zimbabwe Revenue Authority (Zimra) says it is experiencing teething challenges in its tax levying systems as a result of the ongoing transition from the use of the multi-currency system to mono-cu...Published: 21 Feb 2020 at 05:29hrs | 205 | by Staff reporter
'Zimbabwe is redollarising, not de-dollarising'
On Tuesday, ZUVA Petroleum announced that eight of its service stations would be accepting foreign currency payments as number of fuel operators continue to withhold the liquid.ZUVA said four ...Published: 20 Feb 2020 at 13:29hrs | 687 | by Staff reporter
Zimdollar stays, insists Mthuli Ncube
FINANCE minister Mthuli Ncube yesterday vowed that government will not take the Zimdollar out of circulation despite pleas by MPs across the political divide that it had brought suffering to Zimbabwea...Published: 20 Feb 2020 at 13:25hrs | 688 | by Staff reporter
Mangudya and Mthuli's economic policies failing as the RTGS tumbles
As the Zimbabwe's economy meltdown continues to hit the vulnerable people from both the urban and rural areas, President Emmerson Mnangagwa's new dispensation has been put on a litmus test...Published: 19 Feb 2020 at 07:42hrs | 4383 | by Leonard Koni
RBZ maintains $300 bank withdrawal limits
RESERVE Bank of Zimbabwe (RBZ) governor, John Mangudya remains tight-lipped on cash withdrawal limits by individual depositors in a Monetary policy statement in which he reported declining inflation a...Published: 18 Feb 2020 at 06:33hrs | 4028 | by newzimbabwe
RBZ, industry disagree on de-dollarisation
The Reserve Bank of Zimbabwe (RBZ) and captains of industry on Friday sharply differed on the currency in use in local trading.Government mid-last year outlawed use of multi currencies i...Published: 18 Feb 2020 at 06:33hrs | 5890 | by Staff reporter
5 years to full de-dollarisation
THE Reserve Bank of Zimbabwe (RBZ) says the country has registered significant progress in embracing the use of the local currency since its adoption in June last year but expects complete de-dollaris...Published: 18 Feb 2020 at 05:39hrs | 738 | by Staff reporter
Zimbabwe de-dollarisation on track, claims RBZ
Zimbabwe is making progress towards enforcing the use of the Zimbabwe dollar as the sole legal tender, after 189 million transactions valued at $459,6 billion were completed using local currency last ...Published: 18 Feb 2020 at 05:34hrs | 296 | by Staff reporter
The market has redollarised, says Biti
MDC vice-president Tendai Biti (TB), who during the inclusive government era, served as Finance minister speaks to NewsDay (ND) senior reporter Blessed Mhlanga on the failing Zimbabwe dollar and other...Published: 17 Feb 2020 at 10:45hrs | 1976 | by Staff reporter
Zimbabwe recession deeper than thought?
Nyasha Mutseyekwa, a minivan transporter in Zimbabwe's capital Harare, cannot afford new tyres for his ramshackle kombi, selling at US$45 for a good second hand.Whether he opted to pay in US c...Published: 16 Feb 2020 at 17:35hrs | 945 | by Staff reporter
'Zimbabwe's economy most vulnerable in the region'
ZIMBABWE'S economy is vulnerable, with its growth trends now 2% below the average of sub-Saharan Africa's economic expansion, partly due to exchange rate misalignment, volatile weather patterns, and u...Published: 16 Feb 2020 at 08:43hrs | 443 | by Staff reporter
Mthuli Ncube backs wage increase calls
FINANCE and Economic Development Minister, Professor Mthuli Ncube, has backed calls for public and private sector wage increases to cushion workers from price escalation linked to foreign currency exc...Published: 14 Feb 2020 at 06:01hrs | 845 | by Staff reportert
This is how Zimbabwe's economy will overcome its hurdles
Zimbabwe's economy will overcome the numerous hurdles which lay before us on the path towards prosperity. These obstacles are patent, and in some cases potent. But with hard work, proper plannin...Published: 12 Feb 2020 at 21:49hrs | 2429 | by Prof Mthuli Ncube
'Zimbabwe's future is exciting' says Mthuli Ncube
Finance and Economic Development Minister Mthuli Ncube has expressed optimism over the economic future of the country saying the government is implementing reforms that will make Zimbabwe exciting. ...Published: 12 Feb 2020 at 16:27hrs | 4271 | by Mandla Ndlovu
Market rejects Zimdollar
PRESSURE is mounting from business, labour and informal traders for government to abandon the Zimbabwe dollar, which is being rejected as a medium of exchange because of lack of confidence and its ins...Published: 12 Feb 2020 at 06:07hrs | 2484 | by Staff reporter
Employers oppose blanket minimum wage
EMPLOYERS have said they prefer a sector-specific wage review mechanism as opposed to a national minimum wage policy being advocated by social partners under the Tripartite Negotiating Forum (TNF). ...Published: 12 Feb 2020 at 05:38hrs | 600 | by Staff reporter
'Mono-currency here to stay'
FINANCE and Economic Development Minister Professor Mthuli Ncube on Friday said Government has no intention to change its policy on the mono-currency and will introduce stiff penalties against those w...Published: 09 Feb 2020 at 05:47hrs | 925 | by Staff reporter
Zimbabwe economy re-dollarising rapidly
The recent public notice by the Zimbabwe Revenue Authority (Zimra) on the payment of domestic taxes in foreign currency is nothing short of a tacit admission by government that de-dollarisation has fa...Published: 31 Jan 2020 at 19:22hrs | 2705 | by Victor Bhoroma
Zimra targets US$ charging businesses to raise dollars
Zimbabwe's tax agency on Monday ordered businesses charging their customers in foreign currency to also settle their tax obligations in foreign currency, as the government aims to raise scarce dollars...Published: 30 Jan 2020 at 09:05hrs | 877 | by Staff reporter
Zimra says to collect tax in forex from businesses selling in US dollar, rand
The Zimbabwe Revenue Authority (Zimra) on Monday ordered businesses charging their customers in foreign currency to also settle their tax obligations in foreign currency, as the government aims to rai...Published: 28 Jan 2020 at 12:57hrs | 823 | 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 | 1444 | by Nelson Chamisa
Teacher kneels before Mohadi in pay rise plea
A BEITBRIDGE male teacher at the weekend knelt down before Vice-President Kembo Mohadi begging him to influence an upward pay review for teachers.Poloko Malapela, a teacher at Dulivhadzimo Pri...Published: 21 Jan 2020 at 18:50hrs | 1066 | by Staff rpeorter
Delta sales fall 48%
Zimbabwe's Delta Corporation, the country's largest drinks maker, reported a 48% fall in half-year lager sales compared with the same period last year after output and distribution were hit by shortag...Published: 02 Jan 2020 at 16:05hrs | 2745 | by Staff Reporter
Zanu-PF under siege
THE ruling Zanu-PF party fears that the worsening economic crisis could be used to as an excuse to overthrow the President Emmerson Mnangagwa's administration by "foreign sponsored anti-government cam...Published: 24 Dec 2019 at 06:17hrs | 2474 | by Staff reporter
'Mthuli Ncube sneaking US$ through back door'
Former Finance minister Tendai Biti has expressed reservations over clause (23) of the Finance (No 3) 2019 Bill, which will compel people who cannot prove that they sold their assets in Zimbabwean dol...Published: 19 Dec 2019 at 05:20hrs | 10718 | by Staff reporter
Mthuli Ncube to introduce $10, $20 notes
FINANCE minister Mthuli Ncube has hinted to Parliament that he will be introducing higher denominations of $10 and $20 notes in the near future.Ncube revealed this on Thursday in the Senate wh...Published: 18 Dec 2019 at 08:53hrs | 7618 | by Staff Reporter
Mnangagwa vows Zimbabwe will 'never, never' dollarise again
President Emmerson Mnangagwa vowed on Friday not to revert to using the United States dollar after the Zimbabwe plunged against the greenback since its introduction this year, fuelling inflation and e...Published: 14 Dec 2019 at 18:15hrs | 1163 | by Staff reporter
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 | 796 | by Anthony Hawkins
Zimbabwean law to criminalise redollarisation on the cards
Government will make use of the United States dollar illegal and plans punitive penalties for offenders under a proposed law as it seeks to shore up support for the local currency.Since the re...Published: 10 Dec 2019 at 07:15hrs | 2614 | by Staff reporter
Mnangagwa faces ZANU PF Conference price headache
The President heads to a ZANU PF National Conference where the issue of prices is set to take centre stage as prices affect the proverbial bread and butter issues.The President will have addre...Published: 29 Nov 2019 at 06:12hrs | 6890 | by Nicholas Ncube
Mnangagwa to order importers to declare forex sourcing
Zimbabwe will force importers to declare sources of foreign currency and those who fail to prove they obtained the money from banks will forfeit their goods to the state, a government official said on...Published: 22 Nov 2019 at 17:59hrs | 348 | by Reuters
Civil servants demand interbank-rated salaries
Labour unions have said civil servants' bonuses have already been eroded by inflation and urged government to urgently pay their salaries at the prevailing interbank rate.Their demand comes af...Published: 21 Nov 2019 at 21:09hrs | 1941 | by Staff reporter
Nothing hopeful about Chamisa's HONA
The much hyped, but shallow, so called ‘Hope of The Nation Address', (HONA) by opposition leader, Nelson Chamisa had nothing new in it that Zimbabweans could actually hold on to, and believe t...Published: 21 Nov 2019 at 14:50hrs | 2474 | by Sibusiso Ndlamini
Zimbabwe, global de-dollarisation case study - Prof Ncube
Zimbabwe is undergoing a de-dollarisation process that very few countries have successfully implemented and will need time to address the lingering effects of dollarisation, Finance and Economic Devel...Published: 18 Nov 2019 at 06:32hrs | 978 | by Staff reporter
Mnangagwa's govt draws fire over currency
The government has been accused of fuelling economic instability through inconsistent currency reforms and too many regulations.Zimbabwe ended a decade of dollarisation in June and readopted t...Published: 10 Nov 2019 at 08:52hrs | 2848 | by Staff reporter
Mnangagwa ally lays into minister
A Zanu-PF youth leader has accused a deputy minister of sabotaging President Emmerson Mnangagwa's economic reforms by refusing to embrace the local currency, in yet another sign of widening rifts in t...Published: 03 Nov 2019 at 06:55hrs | 2775 | by Staff reporter
New Zimbabwe $2, $5 notes identity revealed
The government has gazetted the features of the new Zimbabwe dollar notes that are expected to be injected into the system in the coming days.Reserve Bank of Zimbabwe (RBZ) governor John Mangu...Published: 03 Nov 2019 at 06:52hrs | 18177 | by Staff reporter
Mobile money brings hyperinflation back
Hyperinflation is making an unwanted return to Zimbabwe. We don't know how bad it is because the government has suspended publishing official figures until 2020. But an IMF mission to the country in A...Published: 30 Oct 2019 at 07:47hrs | 1762 | by Staff reporter
US$ ghost haunts Zimbabwe
ZIMBABWE remains stuck in the shackles of "dollarisation" despite the government's move to end the multicurrency system after a decade.On June 24, through SI 142 of 2019 also known as Reserve ...Published: 29 Oct 2019 at 19:58hrs | 2416 | by Staff reporter
Zimdollar to be pegged against SA rands
THE government is leaning towards pegging the Zimbabwe dollar currency to the South African rand, with Finance minister Mthuli Ncube saying this would make the local currency more competitive in the r...Published: 29 Oct 2019 at 07:01hrs | 12973 | by Staff reporter
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