Search / Dollarised economy
Zimdollar remains volatile
LOCAL financial service firm Fincent Securities Private Limited (Fincent) says the Zimbabwe dollar has lost significant value since the announcement of the disputed election results.From the e...Published: 10 Sep 2023 at 09:00hrs | | by Staff reporter
'If Zimdollar is abandoned markets and financial institutions will recover'
As the Zimbabwean dollar continues to battle for its survival under severe pressure from the United States dollar despite its recent recovery rally, John Legat, Imara Asset Management (Zimbabw...Published: 21 Jul 2023 at 07:56hrs | 1 | by Staff reporter
Zimdollar flips to best currency in the world?
The rebound, driven by new rules that require corporate taxes to be settled in the local currency, are seen easing inflation ahead of next month's general elections.In most countries, the curr...Published: 20 Jul 2023 at 17:27hrs | 3 | by Staff reporter
Dollarisation key at this juncture
THE instability in the country's macroeconomic environment is a serious cause for concern and solutions should be sought as a matter of urgency.Macroeconomics is a branch of economics that stu...Published: 15 Jun 2023 at 06:49hrs | 1 | by Johannes Marisa
'Zimbabwe has no capacity for full dollarisation'
RESERVE Bank of Zimbabwe (RBZ) Governor, Dr John Mangudya, has urged Zimbabweans to embrace the local currency saying the country has no capacity to sustain a fully dollarised economy.While th...Published: 02 Jun 2023 at 06:42hrs | 1 | by Staff reporter
Zimbabwe's PVO Bill will be signed into law
The Private Voluntary Organisation Bill, PVO Bill, has now passed the various stages of the legislative process.It is now being cleaned up for my assent. I will sign it into law once it reache...Published: 19 Feb 2023 at 17:34hrs | 14 | by Staff reporter
Workers, pensioners feel the pinch
WORKERS under the Zimbabwe Congress of Trade Unions (ZCTU) banner yesterday decried living standards in the country, which they described as "unbearable and terrible", and worse than life during the t...Published: 03 May 2021 at 06:21hrs | | by Staff reporter
'Price stability to spill into 2021'
ECONOMISTS and captains of industry yesterday predicted a continued stability of prices of goods and services into next year.During a state of the economy report by Africa Economic Development...Published: 05 Nov 2020 at 19:27hrs | | by Staff reporter
Mnangagwa threatens to withhold striking teachers' wages
LABOUR groups have criticised President Emmerson Mnangagwa over plans to withhold salaries of all teachers on strike.Speaking during a briefing in Mutare last week, Mnangagwa vowed to stick to...Published: 13 Oct 2020 at 06:42hrs | | by Staff reporter
The new Zimdollar: What could go wrong?
ZIMBABWE last week made its interim currency, the RTGS dollar, the country's sole legal tender, drawing the curtains on a decade of United States dollar dominance. Harare was forced to abandon its own...Published: 03 Jul 2019 at 08:43hrs | 1 | by Ed Stoddard
Zimdollar: Only way out
Having gathered the courage to debunk the deeply held view that once dollarised, it is extremely difficult for a country to de-dollarise, Professor Mthuli Ncube's biggest challenge is to now prove to ...Published: 30 Jun 2019 at 09:32hrs | | by Persistence Gwanyanya
Mystery of Zimbabwe's forex market
"Zimbabwe's tobacco sales have reached a record high of 237,1 million kg with a week to go before the selling season ends, official data showed" - Reuters (July 23 2018)."Gold deliveries to Fi...Published: 03 May 2019 at 20:48hrs | 14 | by Chigogwana, Sikhosana and Mashozhera
RBZ not ready for Zimdollar return
Speculation that the Reserve Bank of Zimbabwe (RBZ) is readying itself to reintroduce the demonitised local currency gained momentum last week when former Finance minister Tendai Biti tweeted that the...Published: 17 Feb 2019 at 07:59hrs | 2 | by Staff reporter
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 | 1 | by Respect Gwenzi
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 | 11 | by Pauline Hurungudo
Mthuli Ncube refuses to relax tax thresholds
Finance minister Mthuli Ncube has refused to relax non-taxable income thresholds to $400 saying Treasury needs every penny it can raise to respond to the tough budgetary environment.In his 201...Published: 02 Jan 2019 at 14:27hrs | 2 | by Staff reporter
A review of Zimbabwe's trade performance in 2018
ZIMBABWE's exports have been on a steady growth path throughout the year but imports rose at a much even faster pace. In this piece, NewsDay's Mthandazo Nyoni looks at how the country has fared in the...Published: 01 Jan 2019 at 11:14hrs | 3 | by Staff reporter
Zimbabwe currency confusion
The three-tier pricing system prevailing in the country is very confusing and frustrating, and is making the majority of people wonder if anyone really is in control of the economy. The government app...Published: 21 Dec 2018 at 10:52hrs | 2 | by Miriam T Majome
'Free float exchange system catastrophic for Zimbabwe'
ZIMBABWE risks plunging into rampaging price inflation if it liberalises foreign exchange controls, according to the proponents of a managed exchange rate system. But critics of the system argue that ...Published: 29 Oct 2018 at 05:27hrs | | by Staff reporter
Citizens seriously suffer due to economic crisis
MDC Alliance legislator Tapiwa Mashakada has bemoaned the suffering experienced by citizens due to economic crisis which is being blamed on the government over spending and abuse of resources....Published: 12 Oct 2018 at 07:37hrs | | by Stephen Jakes
Mthuli Ncube gets shock reality check
NEWLY-appointed Finance minister Mthuli Ncube - who arrived in the country from Switzerland early this week amid a populist storm and blaze of publicity on how to fix Zimbabwe's critically broken econ...Published: 14 Sep 2018 at 16:27hrs | | by Staff reporter
Mnangagwa blamed for failure to address 'legitimacy' issues, prices soar
THE prices of basic commodities have risen sharply since elections held on July 30 to levels that are too high for a dollarised economy.The bout of inflation is blamed on excessive government ...Published: 04 Sep 2018 at 06:50hrs | | by Staff reporter
Can Mnangagwa break with the past?
As Zimbabwean President Emmerson Mnangagwa was ushered into power in November he clearly called for new investment in "building a free and transparent economy". Followed closely by an affirmation that...Published: 13 Apr 2018 at 12:48hrs | 1 | by Simon Gray
Mnangagwa's hopes to get back $1,3bn 'unrealistic'
The government has no firm legal footing to enforce the return of the over $1 billion of externalised funds by individuals and companies, experts have said.On December 5 2017, President Emmers...Published: 11 Mar 2018 at 09:39hrs | | by Staff reporter
Zimbabwe draws down $1,1bn from Afreximbank facilities
The Reserve Bank of Zimbabwe said it drew down as much as $1,1 billion from nostro stabilisation facilities last year extended by the Afreximbank as it sought to stabilise the foreign exchange market....Published: 08 Feb 2018 at 06:45hrs | | by Staff reporter
Mnangagwa plans major policy shift
Incoming President Emmerson Mnangagwa (pictured), who will be sworn in as Zimbabwe's new leader at the National Sports Stadium in Harare replacing former president Robert Mugabe forced out on Tuesday,...Published: 25 Nov 2017 at 14:52hrs | | by Staff reporter
RBZ readies to inject $300m export incentive facility
The Reserve Bank of Zimbabwe (RBZ) is set to introduce a new $300 million export incentive facility at the end of this month, as it accelerates efforts of generating the much-needed foreign currency....Published: 12 Nov 2017 at 07:43hrs | 2 | by Staff reporter
Tight conditions for Zimbabwe under dollarised economy - policy analyst
A policy analyst Butler Tambo has said conditions for Zimbabwe under dollarisation are very tight for the government to be supplied with credit by the Reserve Bank of Zimbabwe.He said under th...Published: 05 Oct 2017 at 08:58hrs | 1 | by Stephen Jakes
'Forex dealing: No one will be spared'
THE Reserve Bank of Zimbabwe is hunting down illegal foreign exchange dealers amid reports that more than US$3 billion was externalised over the past two years.Monetary authorities say the ext...Published: 30 Jul 2017 at 08:01hrs | | by Staff reporter
Govt at odds over rand adoption
President Robert Mugabe's administration is at odds over proposed currency reforms, with divergent views emerging about adopting the South African rand as Zimbabwe's anchor currency.Fiscal and...Published: 14 May 2017 at 15:56hrs | | by Staff reporter
Outcry over basic goods price hikes
THE recent increase in the prices of basic commodities in Zimbabwe has irked consumers who feel the move will wipe away their meagre incomes and raise the cost of living.The last few weeks...Published: 07 Feb 2017 at 05:23hrs | | by Staff reporter
Zimbabwe should put in place a comprehensive economic reform plan
The International Monetary Fund (IMF) says Zimbabwe should put in place a comprehensive economic reform plan to ensure successful transformation of the economy.The economy continues to fac...Published: 31 Jan 2017 at 05:50hrs | | by Staff reporter
It's not bond notes, but bank charges
ZIMBABWE's banking sector this week came under withering attack for very old sins which financial institutions have benefited from with near absolute impunity while insulating themselves from critical...Published: 03 Jun 2016 at 06:32hrs | 2 | by Joram Nyathi
Multi-currency makes Zim economy stable
The Zimbabwean government introduced the multi-currency system on 30th January 2009 as an economic strategy to combat the hyperinflationary trend that had gripped the local market due to the unbridled...Published: 14 Jan 2016 at 11:38hrs | | by Suitable Kajau
Four-step plan to revive Bulawayo industries
INDUSTRIALISTS in Bulawayo have identified four strategic intervention areas that require urgent government attention and financing to guarantee the successful revival of industries and job creation....Published: 17 Feb 2015 at 09:18hrs | 1 | by Prosper Ndlovu
'Zimdollar' reintroduction likely to be tough
THE dumping of the local currency in 2009 in favour of the multicurrency regime was bittersweet in that it halted hyperinflation but at the same time created a liquidity crunch in the economy. It is w...Published: 31 Jul 2014 at 11:51hrs | 1 | by AfrAsia Kingdom
Bring back the Zimdollar
Section 317(c) of our constitution states that there should be a central bank whose purpose is, inter alia, "to protect the currency of Zimbabwe in the interest of balanced and sustainable economic gr...Published: 25 May 2014 at 19:32hrs | | by Clemence Machadu
When the dollarisation cure poisons
THE past three instalments have seen this column deal with sample thoughts on Zimbabwe, our country. Of course the underlying issue is a Lenin-like question: What is to be done. As you notice, I avoid...Published: 24 Nov 2013 at 12:46hrs | | by Nathaniel Manheru
Morgan Tsvangirai speech to MDC-T policy conference
MDC-T leader Morgan Tsvangirai's speech at the official opening of the party's policy conference in Harare on May 17, 2013:Vice President Hon. Thokoza...Published: 17 May 2013 at 19:26hrs | | by Morgan Tsvangirai
Econet against fair and transparent business practice
NetOne managing director Mr Reward Kangai has dismissed claims that his company owes Econet Wireless more than US$20 million in interconnection fees alleging that Econet is against fair and transparen...Published: 26 Aug 2012 at 12:25hrs | 1 | by Staff reporter
Timing drives big interest in Imara's Zimbabwe investor conference
Imara's upcoming Zimbabwe Investor Conference is predicted to be the biggest yet as timing factors drive global interest in corporate developments and potential equity market upside.The Harare...Published: 07 May 2012 at 07:30hrs | | by Business reporter
Hookers turn water drains, car parks, roadsides into love nests
HARARE - 30 kilometers from the red lights districts of the Central Business District of Harare lay a sprawling commercial haven for sex workers. Bhobho Farm is an informal settlement w...Published: 09 Apr 2012 at 11:47hrs | 4 | by Staff reporter
Stanbic Bank Zimbabwe is on a 'strike notice'
Stanbic Bank Zimbabwe Limited is on a "strike notice", although management has countered this with threats of possible dismissal of defiant employees. The bank's workers had given notice of an...Published: 01 May 2011 at 06:43hrs | 1 | by Times
Gono's creation ZABG, bankrupt
The Zimbabwe Allied Banking Group failed to publish year-end results last month amid reports that PricewaterhouseCooper has refused to certify its financials as it is bankrupt.PwC managing pa...Published: 24 Apr 2011 at 05:08hrs | 3 | by Mathews Estell
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