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ZiG is putting lipstick on a pig, says Biti
The Reserve Bank of Zimbabwe (RBZ) on Friday introduced a new currency to be known as the ZiG, which stands for Zimbabwe Gold.RBZ governor John Mushayavanhu said the ZiG would be structured an...Published: 07 Apr 2024 at 10:31hrs | 19 | by Staff reporter
RBZ adopts market-based exchange rate
THE Reserve Bank of Zimbabwe (RBZ) has adopted a market-determined system for setting exchange rates, with the auction system being replaced by a refined interbank foreign exchange market which connec...Published: 06 Apr 2024 at 08:06hrs | | by Staff reporter
Zimbabwe to keep Zimdollar
Zimbabwe plans to keep its local dollar, a currency that has lost value every single trading day of the year, even as fiscal and monetary authorities work on new plans to revamp the currency, accordin...Published: 26 Mar 2024 at 06:37hrs | 1 | by Staff reporter
Grain imports into Zimbabwe liberalised
GOVERNMENT has liberalised the importation of grain at household level as part of a raft of measures aimed at mitigating the effects of the El Nino-induced drought and guaranteeing national food secur...Published: 13 Mar 2024 at 05:07hrs | 3 | by Staff reporter
Passport removal could boost Zimbabwe-Botswana trade
The agreement between President Mnangagwa and President Mokgweetsi Masisi of Botswana to allow passport-free travel between Zimbabwe and its western neighbour is a trade masterstroke, a political and ...Published: 18 Dec 2023 at 04:52hrs | | by Staff reporter
Russia ships 23 000t of fertiliser to Zimbabwe
RUSSIA's giant fertiliser manufacturing company, Uralchem Group, is in the process of shipping 23 000 tonnes of humanitarian fertiliser to Zimbabwe to complement the country's efforts to boost food an...Published: 12 Dec 2023 at 05:52hrs | 9 | by Staff reporter
IMF tells Zimbabwe to end RBZ's quasi-fiscal activities
The International Monetary Fund (IMF) has implored Zimbabwe to end the central bank's quasi-fiscal activities among a raft of reforms to "fully restore macroeconomic stability".The Reserve Ban...Published: 26 Oct 2023 at 06:36hrs | 23 | 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 | 1 | by Staff reporter
Zimbabwe govt punishes rogue businesses
THE Ministry of Finance and Economic Development has suspended trading licences for 17 pharmacies for violation of the Exchange Control directives and Government policy where they were using speculati...Published: 12 Jul 2023 at 08:16hrs | | by Staff reporter
Zimbabwe retailers ban in-store pictures
RETAIL giants in Harare have reportedly resorted to banning customers from taking pictures of commodity prices and some shoppers have been forced to delete photos of prices.The retailers' stan...Published: 17 Jun 2023 at 08:08hrs | 1 | by Staff reporter
Convergence of official and unofficial exchange rates possible, says IMF
THE International Monetary Fund has urged Zimbabwe to take further steps on currency reform after the southern African nation stopped short of free-floating its local dollar. The credibility a...Published: 14 Jun 2023 at 06:32hrs | 2 | by Staff reporter
Zimbabwe is heading towards economic armageddon, says America's Steve Hanke
Steve Hanke, a Professor of Applied Economics at The Johns Hopkins University in Baltimore, USA, has predicted a catastrophic downfall of the Zimbabwean economy describing its trajectory as "heading t...Published: 13 Jun 2023 at 14:29hrs | 1 | by Staff reporter
Zimdollar rescue mission too late
THE surprise move by Zimbabwe's fiscal and monetary authorities to liberalise the foreign exchange policy after months of shillyshallying amid a fixed rate could be a case of closing the stable door a...Published: 12 Jun 2023 at 06:45hrs | 2 | by Staff reporter
Zimdollar nosedives
By close of business on Thursday, soldiers, police, health workers and other civil servants in Zimbabwe went home with the reality that their salaries could barely buy 30 loaves of bread.This ...Published: 09 Jun 2023 at 17:09hrs | | by Staff reporter
Zimbabwe central bank resorts to market determined exchange rate
THE Reserve Bank of Zimbabwe has announced a range of measures to stabilise the exchange rate which include using a market-determined rate to trade foreign currency.The RBZ will from this Wedn...Published: 06 Jun 2023 at 20:05hrs | | by Staff reporter
Mnangagwa threatens to legislate against foreign currency use
PRESIDENT Emmerson Mnangagwa has, in a yet-to-be-aired interview, declared Zimbabwe will continue using its waning currency despite it fast-losing value.In snippets of the interview shared by ...Published: 02 Jun 2023 at 06:43hrs | 1 | by Staff reporter
'Dump Zimdollar'
ECONOMIC analysts have said Finance minister Mthuli Ncube's new measures introduced on Monday have very little chance of saving the Zimbabwe dollar from collapse.They instead advised Ncube to ...Published: 01 Jun 2023 at 06:47hrs | 1 | by Staff reporter
Zimbabwe's US$12 billion mining economy on course
ZIMBABWE'S mining industry has registered significant strides towards realising the ambitious US$12 billion milestone by the end of this year, Mines and Mining Development Minister Winston Chitando ha...Published: 01 Jun 2023 at 06:41hrs | | by Staff reporter
Massive price hikes throw the Zimbabwe economy into turmoil
THE Zimbabwean government is having sleepless nights over price hikes, which have continued unabated, plunging low-income earners into immense poverty, a snap survey by The NewsHawks.Commodity...Published: 28 May 2023 at 17:54hrs | | by Staff reporter
Zimbabwe toothpaste maker faces closure
The country's only toothpaste maker - Merken- is in danger of going out of business following the government's decision to allow the unfettered entry of the products it manufactures into the country, ...Published: 28 May 2023 at 08:07hrs | | by Staff reporter
Zimdollar in record crash
THE Zimbabwe dollar tumbled by nearly 26% on the official market on Tuesday, the biggest collapse in one day since the auction system was introduced three years ago, while a government inquiry accused...Published: 25 May 2023 at 06:24hrs | | by Staff reporter
Zimbabwe backs new digital money with 140kg of gold
Zimbabwe has turned to digital money to help ease soaring demand for US dollars in its economy as the value of the local currency plunged.Zimbabwe used nearly 140 kilograms of gold reserves to...Published: 13 May 2023 at 18:54hrs | | by Staff reporter
Maize trading liberalised in Zimbabwe
The Zimbabwe Mercantile Exchange (ZMX) will begin trading maize on the commodities market after the Government liberalised the trading in the strategic grain.ZMX contends the development would...Published: 12 May 2023 at 06:01hrs | 1 | by Staff reporter
Reserve Bank of Zimbabwe slashes policy rate
THE Reserve Bank of Zimbabwe (RBZ) yesterday slashed its policy rate further to 140%. The policy rate had been pegged at 150% at the beginning of the year, from 200% before.Analysts said the m...Published: 31 Mar 2023 at 17:55hrs | | by Staff reporter
Reserve Bank of Zimbabwe bullish on inflation
THE Reserve Bank of Zimbabwe (RBZ) yesterday remained bullish that month-on-month inflation will remain stable below 3% throughout next year, despite indications last week that the country will use de...Published: 06 Dec 2022 at 05:03hrs | | by Staff reporter
Reserve Bank of Zimbabwe keeps bank rate at 200%
THE Reserve Bank of Zimbabwe (RBZ) has kept its bank policy rate at 200 percent after its Monetary Policy Committee (MPC) expressed satisfaction with how the current tight monetary policy stance has h...Published: 06 Dec 2022 at 04:58hrs | 1 | by Staff reporter
'Mnangagwa's govt likely to print money to fund deficit'
ONE of Zimbabwe's top financial institutions, FBC Holdings Limited (FBC) says the 2023 National Budget announced last week will likely be funded by money printing, amid dwindling revenue options for T...Published: 29 Nov 2022 at 05:21hrs | 1 | by Staff reporter
RBZ allows companies to buy up to US$100 000 weekly
THE Reserve Bank of Zimbabwe has moved to allow companies to purchase up to US$100 000 per week from local banks for purposes of undertaking bona fide payments and moved to maintain the current intere...Published: 01 Oct 2022 at 06:15hrs | | by Staff reporter
Zimdollar, US dollar exchange rate cleavage narrows
THE narrowing of the gap between parallel market and official exchange rates from an elevated level of 140 percent in May to current levels of between five percent and 15 percent is a significant move...Published: 29 Sep 2022 at 05:56hrs | | by Staff reporter
$9bn gold coins sold as individuals join rush
THE Reserve Bank of Zimbabwe (RBZ) says gold coins worth $9 billion have been sold since July this year, with individuals taking a significant chunk of the bullion, while the Monetary Policy Committee...Published: 28 Sep 2022 at 05:55hrs | | by Staff reporter
Zimbabwe must step up to increase exports, says UK
THE United Kingdom (UK) embassy said Zimbabwe could boost its exports to the European country through the Economic Partnership Agreement (EPA), but said it needed to step up.The British head o...Published: 19 Sep 2022 at 06:06hrs | 1 | by Staff reporter
Zimdollar exchange rate stability false, economists warn
ECONOMISTS yesterday warned that the current exchange rate stability, which is largely a result of local currency shortages on the market is "false" and will be short-lived.Economist Eddie Cro...Published: 15 Sep 2022 at 05:55hrs | 2 | by Staff reporter
Cartels, manipulators on the radar
Cartels and those that collude to unjustifiably increase prices, engage in illegal dealings and manipulating the local currency for their benefit have been put under the microscope, President Mnangagw...Published: 13 Aug 2022 at 07:22hrs | | by Staff reporter
Zimbabwe to release smaller gold coins
Smaller Zimbabwean gold coins, as small as a tenth of an ounce, are expected to go on sale in November from the Reserve Bank of Zimbabwe so ordinary people can invest in them and store value for their...Published: 12 Aug 2022 at 06:35hrs | | by Staff reporter
Govt must liberalise airwaves for development
A FREE Press is essential in holding those in power accountable.The Press is a tool that can be used in connecting and building nations.It is the Press which exposed Willowgate, Salary...Published: 28 Jul 2022 at 06:36hrs | 2 | by Muzokomba villager
Biti challenges Minister on ‘one man and his wife' dominating ZBC news daily
CITIZENS Coalition for Change (CCC) Harare East Tendai Biti on Tuesday challenged the government on ZBC's compliance with the Constitutional obligation for impartiality and diversity of views in its n...Published: 21 Jul 2022 at 06:47hrs | 6 | by Staff reporter
'Smuggler' Rushwaya wants gold possession de-criminalised
CONTROVERSIAL Zimbabwe Miners Federation (ZMF) president Henrietta Rushwaya has made a shocking plea to the Zanu-PF government to repeal a piece of legislation which criminalises the possession of gol...Published: 11 Jun 2022 at 20:42hrs | 8 | by Staff reporter
Currency Crimes: Four banks to face the music
FOUR banks have been placed under intense scrutiny and will face stiff penalties from the Financial Intelligence Unit (FIU) over allegations of involvement in illicit financial crimes that have led to...Published: 08 Jun 2022 at 07:29hrs | 5 | by Staff Reporter
4 Zimbabwe banks to face currency crimes charges
FOUR banks have been placed under intense scrutiny and will face stiff penalties from the Financial Intelligence Unit (FIU) on allegations of involvement in illicit financial crimes that have led to t...Published: 05 Jun 2022 at 09:08hrs | 7 | by Staff reporter
Zimbabwe nurses pile pressure on Mnangagwa
AN emerging union of nurses with a sound base of membership in Midlands and Matabeleland provinces has issued the government a two-week ultimatum to resolve grievances of the health workers or face a ...Published: 31 May 2022 at 12:27hrs | 7 | by Staff reporter
Public transport system normalises?
THE public transport system has improved after the Government liberalised the sector while Zupco contracted private companies with kombis and increased their daily payments by over 100 percent....Published: 17 May 2022 at 06:31hrs | | by Staff reporter
Basics run out of Zimbabwe shelves
PRESIDENT Emmerson Mnangagwa and Finance minister Mthuli Ncube's recent economic pronouncements have reportedly triggered a shortage of most locally-manufactured basic commodities in most retail shops...Published: 16 May 2022 at 06:26hrs | | by Staff reporter
Zimbabwean commuters bear brunt of police, motorists' war
ARMED with batons, police officers disembark from a tinted vehicle running at full speed to block a honking pirate taxi in the heart of the city in a dramatic and dangerous move.The targeted v...Published: 09 May 2022 at 07:05hrs | | by Staff reporter
'Zimbabwe won't rush to mono-currency regime'
THE Reserve Bank of Zimbabwe (RBZ) has given assurances that there will be no rushed exclusive adoption of either the Zimbabwe dollar or US dollar currency regime.This was revealed by the Conf...Published: 28 Apr 2022 at 08:55hrs | | by Staff reporter
Zimbabwe must abandon use of US$ immediately
ECONOMIST Eddie Cross, believes the best way to stabilise the prices of basic goods in the country and spur development is to end the use of the United States dollar in the economy. Speaking on 3Ktv p...Published: 27 Apr 2022 at 12:57hrs | 4 | by Staff reporter
CZI hits back at Mangundya over Zimdollar crisis
THE Confederation of Zimbabwe Industries (CZI) has hit back at Reserve Bank of Zimbabwe (RBZ) governor John Mangudya's suggestion that their position on the crumbling local currency was misinformed....Published: 25 Apr 2022 at 09:18hrs | | by Staff reporter
Zimdollar use no longer viable
ZIMBABWE'S largest business group has warned that the economy faces collapse if the government insists on foisting the rapidly weakening local currency on the market when it is obvious that it is no l...Published: 25 Apr 2022 at 09:04hrs | 1 | by Staff reporter
Julius Malema to help Zimbabwe truck drivers in South Africa
EFF leader Julius Malema has instructed the EFF KZN Provincial Chairperson Vusumuzi Khoza to attend to the plight of Zimbabwean truck drivers who have reached out to him seeking remedy which has remov...Published: 21 Apr 2022 at 21:27hrs | 10 | by Mandla Ndlovu
Community radios warned not to be used by politicians
COMMUNITY radio stations must not be used by political parties as their conduits of information as this will bring division rather than social cohesion. Those found doing so will have the...Published: 14 Apr 2022 at 06:34hrs | | by Staff reporter
Experts laud liberalisation of foreign exchange market
The move by the Reserve Bank of Zimbabwe (RBZ) to liberalise the foreign exchange market by allowing banks to conduct foreign exchange transactions of up US$1 000 in which individuals and corporates c...Published: 08 Apr 2022 at 09:16hrs | | by Staff reporter
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