Bulawayo24 News - Skyes! "it makes perfect sense"

7 illegal forex dealers await bail ruling

Seven suspected illegal foreign currency dealers accused of engaging in money laundering and running an underground forex trading operation are expected back in court today for their bail ruling.The accused - Brenda Chirinda, Chipo Josephi…

Published: 05 Sep 2025 at 07:32hrs | 365 | by Staff reporter

RBZ defends exchange rate system

Reserve Bank of Zimbabwe (RBZ) Deputy Governor Dr Innocent Matshe has dismissed claims that the central bank is manipulating the foreign exchange market, insisting that the willing-buyer willing-seller (WBWS) system operates in line with i…

Published: 04 Sep 2025 at 08:33hrs | 598 | by Staff reporter

Massive US$100,000 fines for Zimbabwe forex offenders

The Reserve Bank of Zimbabwe (RBZ) has introduced heavy fines and tougher enforcement measures against individuals, companies, and financial institutions caught breaking exchange control regulations.In a policy statement issued on 15 Augus…

Published: 16 Aug 2025 at 13:13hrs | 478 | by Staff reporter

Zimbabwe's forex receipts jump 23%

Zimbabwe recorded a 23,1 percent surge in foreign currency receipts during the first half of 2025 compared to the same period last year, signalling growing confidence in the country's formal channels and resilience in its external sector.A…

Published: 15 Aug 2025 at 08:33hrs | 94 | by Staff reporter

Zimbabwe's forex receipts surge to US$7.3 billion

Zimbabwe recorded a significant boost in foreign currency receipts, raking in US$7.3 billion during the first half of 2025, according to the Reserve Bank of Zimbabweâ€™s (RBZ) latest Monetary Policy Statement (MPS).Presenting the Mid-Term …

Published: 09 Aug 2025 at 10:01hrs | 145 | by Staff reporter

Logistics firm in exchange control violation

Mapho Tradelink Procurement and Logistics Private Limited, a leading procurement and logistics company, has been taken to court for allegedly breaching the Exchange Control Act by making payments exceeding US$150,000 outside Zimbabwe witho…

Published: 08 Aug 2025 at 13:08hrs | 199 | by Staff reporter

Director arrested over US$7.6m payments for LP gas imports

Grant Wellington Thulisa (Pvt) Ltd, represented by its director Grant Chitate, has been dragged before the courts on allegations of making unauthorised foreign payments totalling US$7.6 million for the importation of liquefied petroleum (L…

Published: 05 Aug 2025 at 17:44hrs | 1062 | by Staff reporter

Mines and RBZ in crunch talks over forex retention

The Chamber of Mines of Zimbabwe has initiated fresh negotiations with the Reserve Bank of Zimbabwe (RBZ) to review the current foreign currency retention framework, citing growing concerns over worsening access to forex and the threat it …

Published: 25 Jul 2025 at 14:11hrs | 75 | by Staff reporter

Mines and RBZ in crunch talks over forex retention

The Chamber of Mines of Zimbabwe has initiated fresh negotiations with the Reserve Bank of Zimbabwe (RBZ) to review the current foreign currency retention framework, citing growing concerns over worsening access to forex and the threat it …

Published: 25 Jul 2025 at 14:11hrs | 46 | by Staff reporter

'Surge in forex inflows a boon for ZiG stability'

Zimbabwe's foreign currency receipts surged by 22 percent to US$6 billion in the first five months of 2025, according to the Reserve Bank of Zimbabwe (RBZ), a development analysts say strengthens the central bank's capacity to defend the Z…

Published: 14 Jul 2025 at 07:52hrs | 137 | by Staff reporter

Zimbabwe's foreign currency reserves surge

Zimbabwe's foreign currency reserves have maintained strong momentum, with the Reserve Bank of Zimbabwe (RBZ) reporting that, by the end of June 2025, the reserve holdings were more than three times higher than the stock of reserve money s…

Published: 10 Jul 2025 at 08:56hrs | 133 | by Staff reporter

Zimbabwe govt squeezes miners for more forex

 Zimbabwe's mining industry is facing increased strain as government departments intensify demands for miners to pay taxes and fees in foreign currency-on top of the mandatory 30% surrender of export earnings-further squeezing the sec…

Published: 16 Jun 2025 at 14:48hrs | 200 | by Staff reporter

Zimbabwe exporters sound alarm over tough new forex rules

Zimbabwean exporters are facing fresh turbulence following the government's move to tighten foreign currency controls - scrapping critical export incentives and enforcing tougher surrender requirements. The decision has triggered alarm acr…

Published: 05 Jun 2025 at 11:34hrs | 2972 | by Staff reporter

Refineries under threat as RBZ gulps more forex

Zimbabwe's biggest mining companies have sounded alarm bells over the potential suspension of crucial expansion projects - including refineries valued at over US$432 million - following the Reserve Bank of Zimbabwe's (RBZ) indication of ti…

Published: 30 May 2025 at 12:18hrs | 657 | by Staff reporter

Illegal forex trader shot and robbed in Bulawayo

Bulawayo has been hit by a rise in violent crime, with an illegal foreign currency dealer becoming the latest victim after being shot and robbed of thousands of US dollars by an armed assailant on Monday night.The victim, Mthokozisi Nkomo,…

Published: 26 Mar 2025 at 06:50hrs | 682 | by Staff reporter

Zimbabwe central bank goes after informal traders forex, exporters' proceeds

The Reserve Bank of Zimbabwe (RBZ) has announced a further reduction in export retention proceeds, cutting them by an additional 5%, as part of measures aimed at boosting foreign currency reserves and stabilizing the economy. The new direc…

Published: 07 Feb 2025 at 06:43hrs | 1186 | by Staff reporter

FXGT.com Unveils NEW FXGT App and the Web-Based FXGT.com Trader Platform

In an era where technology is reshaping the landscape of online trading, FXGT.com has officially launched two innovative products designed to enhance the trading journey for all users: the FXGT App and FXGT.com Trader. These tools exemplif…

Published: 05 Oct 2024 at 11:31hrs | 37 | by Staff reporter

Zimbabwe central bank says it's intervening in foreign exchange market

Zimbabwe's central bank said it's "strategically intervening" in the foreign-exchange market to meet demand for dollars among lenders amid a slump in the nation's bullion-backed currency.The intervention is being done using 50% of the fore…

Published: 31 Aug 2024 at 11:14hrs | 632 | by Staff reporter

Pick n Pay faces probe over alleged racism, forex looting

An investigation has been launched by the National Employment Council (NEC) for the Commercial Sectors in Zimbabwe into allegations of racism, foreign currency looting, and unfair labour practices at TM Pick n Pay Zimbabwe, a subsidiary of…

Published: 20 Aug 2024 at 16:16hrs | 1188 | by Staff reporter

Zimbabwe's ZiG primed for seamless international acceptance and usage

THE country's new currency, Zimbabwe Gold (ZIG) widespread acceptance locally will trigger a seamless acceptance regionally, Monetary Policy Committee member Mr Persistence Gwanyanya has said.ZiG was introduced in April as part of a raft o…

Published: 10 Jul 2024 at 15:50hrs | 25 | by Staff reporter

Zimbabwe goes after social media foreign currency dealers

The Financial Intelligence Unit (FIU) says it has been monitoring social media platforms where foreign currency dealers have been advertising and promoting their illegal trade.The FIU claims that it is aware of WhatsApp groups that have mu…

Published: 20 Jun 2024 at 14:34hrs | 9 | by Staff reporter

Bogus cop arrested for bashing suspected illegal forex dealer

A phony police officer, identified as Kundai Taruvinga (29), was apprehended while assaulting a Harare man suspected of engaging in illegal foreign currency trading. The incident took place at Machipisa Shopping Centre, Harare, and Taruvin…

Published: 10 Jun 2024 at 08:44hrs | 3 | by Staff reporter

Neville Mutsvangwa detention exposes Mnangagwa, Chiwenga rift?

In a scathing attack, Zanu-PF spokesman Chris Mutsvangwa has implicated Vice President Constantino Chiwenga in the arrest and detention of his son, Neville, on charges of illegal currency trading.Mutsvangwa claims Chiwenga is behind the mo…

Published: 19 May 2024 at 11:58hrs | 67 | by Staff reporter

Mnangagwa's govt to extend ZiG currency crackdown to shops

The government intends to expand its crackdown on street currency traders to include retailers, ensuring that goods and services are priced using only the official exchange rate of the new ZiG currency.Finance, Economic Development, and In…

Published: 18 May 2024 at 12:38hrs | 16 | by Staff reporter

IMF advises Zimbabwe to adopt forex market reforms

As the instability of the beleaguered Zimbabwe dollar intensifies, the International Monetary Fund (IMF) has advised the government to adopt forex market reforms which are "more transparent and market-driven".  The IMF says the offici…

Published: 15 Feb 2024 at 10:01hrs | 2 | by Staff reporter

Zimbabwe forex policy chokes exporters

LISTED agricultural concern Ariston Holdings says the 25% export retention coupled with the huge disparity between the interbank exchange rate and the fair market rate used by suppliers is making some export lines unviable.Exporting agricu…

Published: 31 Jan 2024 at 06:59hrs | 1 | by Staff reporter

Telling my Access Finance story

FOLLOWING a recent public announcement by Access Finance Group, a local remittance and financial services company, that its chief executive Singathini Raymond Chigogwana is retiring and would be replaced by Salim Eceolaza, it became clear …

Published: 05 Oct 2023 at 15:07hrs | 39 | by Senziwani Sikhosana

Gardener steals 57 kg gold and forex from ex-employer

A BULAWAYO gardener who had access to his former employer's house in Killarney Suburb allegedly teamed up with a friend to sneak into the house on a number of occasions, where the duo stole about cash and 57 kg of gold.Andrew Chirasha (28)…

Published: 01 Aug 2023 at 20:52hrs | 10 | by Staff reporter

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 among some illegal currency traders du…

Published: 02 Jul 2023 at 07:37hrs | 11 | by Staff reporter

Zimbabwe price manipulators to be locked up

EVIL machinations from the country's detractors to reverse successes registered by the Second Republic through asymmetrical warfare in the form of currency manipulation and price distortions will come to naught with perpetrators being brou…

Published: 14 Jun 2023 at 06:32hrs | 4 | by Staff reporter

RBZ clarifies new forex surrender policy

THE Reserve Bank of Zimbabwe (RBZ) is set to meet with the Bankers Association of Zimbabwe (BAZ) and Accountant General with a view to map the way forward on the use of foreign exchange from the 25 percent surrender portion of export proce…

Published: 02 Jun 2023 at 06:40hrs | 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 businesses that fuel exchange volatility b…

Published: 23 May 2023 at 06:34hrs | 2 | by Staff reporter

Ncube frets over runaway forex rate

FINANCE minister Mthuli Ncube this week threatened to hike Zimbabwe's policy rate beyond 200%, if companies continue to dabble into parallel market activities.The Treasury chief, who spoke during the Zimbabwe International Trade Fair (ZITF…

Published: 28 Apr 2023 at 07:04hrs | 5 | by Staff reporter

More contractors blacklisted over illegal foreign currency deals

The crackdown on companies that channel funds to the illegal foreign currency market has been widened, with 13 more firms being blacklisted for their involvement.In November last year, 19 companies were blacklisted after they were found to…

Published: 04 Apr 2023 at 06:21hrs | 1 | by Staff reporter

Zesa mulls switch to forex-indexed power tariff

POWER utility Zesa Holdings Limited wants all of its clients, including industries, to pay their electricity bills in foreign currency to fulfil its power import commitments, Zimbabwe Independent can report.The State-run power firm has bee…

Published: 12 Feb 2023 at 07:26hrs | 1 | by Staff reporter

Zimra records forex revenue upsurge

ZIMBABWE'S tax agency says United States dollar income and corporate taxes recorded strong growth during the quarter ending 31 December 2022 compared to prior comparative period as companies paid salaries in hard currency to cushion worker…

Published: 04 Feb 2023 at 20:11hrs | 1 | by Staff reporter

How do you win in binary options trading?

Binary options have entered the stock market and taken beginners by storm. For those who have always been wary and just a little afraid of traditional stock markets like Forex, this new instrument allows you the flexibility and ease that y…

Published: 02 Feb 2023 at 13:06hrs | 556 | by Staff Reporter

Get Started with Forex Day Trading: Forex Trading Guide for Amateurs

Foreign exchange, sometimes known as "forex," is the exchange of currencies between buyers and sellers in a network at a specified price. It is a method used by people, businesses, and central banks to exchange one currency for another. Th…

Published: 16 Sep 2022 at 06:12hrs | 21 | by Staff reporter

Illegal forex dealer fined $10 million

Local company, Tererati (Pvt) Limited, involved in illegal foreign currency deals during 2020 in Harare using EcoCash agent lines, was fined $10 498 300 yesterday after admitting to making the illicit transactions without being a licenced …

Published: 27 Aug 2022 at 05:59hrs | 12 | by Staff reporter

Forex only for housing stands for Bulawayo

THE Bulawayo City Council has availed stands in Pumula South that are exclusively sold in foreign currency, with interested individuals being given six months to settle the payment or risk losing them.This comes a few weeks after the local…

Published: 24 Jul 2022 at 10:00hrs | | by Staff reporter

'Zimbabwe independence, freedom not for sale'

ZIMBABWE'S independence, freedom, democracy, sovereignty, patriotism, dignity and heritage are not for sale, President Mnangagwa has said.Addressing thousands of ruling Zanu-PF party supporters at a rally at Nhedziwa High School in Chimani…

Published: 23 Jul 2022 at 07:25hrs | 2 | by Staff reporter

Zimbabwe lawmakers demand names of forex manipulators

MEMBERS of Parliament (MPs) have demanded that the Finance ministry should bring a list of all exchange rate manipulators to the House so that they are named and shamed.This was after Finance deputy minister Clemence Chiduwa failed to reve…

Published: 25 Jun 2022 at 08:41hrs | 13 | by Staff reporter

Zimbabwe's forex currency crisis worsens

An outlet in Harare's Graniteside industrial area has been turning away customers using local currency through point of sale (POS) platforms on the pretext that they are experiencing network failure.To go around the alleged POS challenges,…

Published: 05 Jun 2022 at 09:16hrs | 10 | by Staff reporter

RBZ suspends Access Forex with immediate effect

THERE is a bloodbath in the financial services sector, with the Reserve Bank of Zimbabwe (RBZ) Monday shutting down yet another foreign currency dealership, Access Forex.The company announced in a statement it has been directed to suspend …

Published: 25 Apr 2022 at 18:01hrs | 2 | by Staff reporter

Victoria Falls Stock Exchange struggles to win over foreigners

Zimbabwe's dollar-only stock exchange, established almost two years ago in the resort city of Victoria Falls, is struggling to win over foreign investors haunted by previous struggles to repatriate hard currency.At the peak of interest in …

Published: 10 Mar 2022 at 17:35hrs | 5 | by Staff reporter

How to make money trading forex

Forex, or foreign exchange trading, is a marketplace that has captured the imagination of retail traders over the last several years. This is a market that is based upon the price of currencies about each other rising and falling. For exam…

Published: 08 Mar 2022 at 21:44hrs | 13 | by Staff Writer

Potraz calls up RBZ for telecoms sector forex

The Postal and Telecommunications Regulatory Authority of Zimbabwe (POTRAZ) says the Reserve Bank of Zimbabwe (RBZ) should prioritise the telecoms sector in the allocation of foreign currency for operators, to enable operators to import ke…

Published: 02 Mar 2022 at 05:33hrs | 2 | by Staff reporter

Pensioners start accessing forex

Pensioners, the elderly, people living with disabilities and those needing to cover foreign currency medical bills yesterday started accessing foreign currency from financial institutions without any hassles.Pensioners commended the Govern…

Published: 09 Feb 2022 at 05:19hrs | 5 | by Staff reporter

Why Forex can be a smart way to invest your money

The world has changed dramatically over the last few years, and many people are seeing their cost of living going up. If you are finding yourself in a situation where your money isn't going as far as it used to, it's a good idea to conside…

Published: 06 Jan 2022 at 12:38hrs | 23 | by Staff Writer

RBZ dishes out US$6 million to 130 000 citizens

THE Reserve Bank of Zimbabwe (RBZ) has disbursed more than US$6 million to close to 130 000 people following Government's decision last month to promote financial inclusion and access to forex for small value transactions by members of the…

Published: 29 Oct 2021 at 08:11hrs | 6 | by Staff Reporter

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