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Ncube casino economics killing goose that lays eggs
THE Zimbabwean dollar is tumbling at a fast rate and it will only respond positively when there is a change of government. As long as we are going to have this current leadership, nothing will c...Published: 14 hrs ago | 505 | by Leonard Koni
Fire Mthuli and Mangudya
The Zimbabwean dollar is tumbling at a very fast rate and it will only respond to the market when there is a change of government. As long as we are going to have this current leadership nothing...Published: 15 May 2022 at 09:22hrs | 6189 | by Leonard Koni
RBZ to name firms taking bank loans to black market
THE Reserve Bank of Zimbabwe (RBZ) has unearthed an elaborate practice by some big corporates in the country, who were borrowing large amounts of money from banks which they would then channel into th...Published: 15 May 2022 at 06:12hrs | 839 | 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 | 288 | 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 | 357 | by Staff reporter
Chamisa blames Mnangagwa
PRESIDENT Emmerson Mnangagwa is being haunted by the 2018 legitimacy crisis that has seen the economy imploding and plunging the country into chaos, opposition Citizens' Coalition for Change leader Ne...Published: 13 May 2022 at 19:11hrs | 357 | by Staff reporter
Foreign banks troop to Zimbabwe forex auction
UNITED States-based multinational investment outfit JP Morgan was among global lenders that repatriated a combined US$30 million through the Reserve Bank of Zimbabwe (RBZ)'s forex auction system by th...Published: 13 May 2022 at 19:10hrs | 682 | by Staff reporter
Legislators letting citizens down
IT is now clear that Zimbabwe's parliamentarians are not playing their role of fixing the mess in our country's financial sector. The Zimbabwean government has introduced several statutory instruments...Published: 13 May 2022 at 19:04hrs | 24 | by Engineer Jacob Kudzayi Mutisi
Chamisa's CCC slams Mnangagwa
The Citizens Coalition for Change (CCC) on Wednesday vowed a robust challenge to controversial measures to shore up the fast-depreciating Zimbabwe dollar, announced by President Emmerson Mnangagwa las...Published: 11 May 2022 at 19:10hrs | 549 | by Staff reporter
Zimbabwe's central bank clarifies lending directive
The central bank says the suspension of lending by banks to government and private institutions announced by President Emmerson Mnangagwa at the weekend will include micro-financial institutions....Published: 11 May 2022 at 09:13hrs | 991 | by Staff reporter
Dollar o'clock: Should Zimbabwe axe its faltering currency again?
IN early 2019, Zimbabwe's central bank announced plans to bring back the Zimbabwe dollar as legal tender after a decade of using the US dollar and seven other international currencies because raging h...Published: 11 May 2022 at 09:11hrs | 406 | by Staff reporter
More investors flock into Zimbabwe
United Arab Emirates billionaire investor Mr Shaji Ul Mulk, who is back in the country to ensure the implementation of projects agreed during his visit last month, has said the country offers vast unt...Published: 11 May 2022 at 09:08hrs | 273 | by Staff reporter
Reserve Bank of Zimbabwe says bank lending ban 'temporary'
Zimbabwe's freeze on bank lending is a temporary measure which is meant to contain inflation and stabilise its economy, central bank governor John Mangudya told state television on Tuesday.Pre...Published: 10 May 2022 at 15:29hrs | 949 | by Staff reporter
RBZ blames Russia
RESERVE Bank of Zimbabwe (RBZ) governor John Mangudya yesterday blamed Zimbabwe's deteriorating crisis on confrontations between Russia and Ukraine as he downplayed economic shocks that were already f...Published: 04 May 2022 at 07:03hrs | 3266 | by Staff reporter
Zimbabwe inflations quickens to 96.4%
Below is the full statement by Reserve Bank of Zimbabwe (RBZ) Governor John Mangudya on the resolutions of the Monetary Policy Committee (MPC) meeting of 29 April 2022.RESOLUTIONS OF THE MONET...Published: 03 May 2022 at 16:25hrs | 1549 | by Staff reporter
Mnangagwa to copy Putin's currency strategy
Zimbabwe's President Emmerson Mnangagwa is trying to emulate Russian President Vladimir Putin in his attempt to revive Africa's worst performing currency. Mnangagwa's administration may announ...Published: 03 May 2022 at 06:43hrs | 2913 | by Staff reporter
'Zimdollar volatility makes no sense'
The Reserve Bank of Zimbabwe (RBZ) believes disproportionate demand for the US dollar and lingering fears of hyperinflation are driving exchange rate volatility, as the country's currency should ordin...Published: 01 May 2022 at 11:05hrs | 202 | by Staff reporter
Trafigura seeks control of Zimbabwe metals over debts
TRAFIGURA Group and Zimbabwe's government have discussed a deal that would give the commodities trader control over output from some of the nation's biggest mines as repayment for debts, documents see...Published: 30 Apr 2022 at 16:15hrs | 158 | 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 | 182 | by Staff reporter
John Mangudya and CZI kiss and make up
In its position paper on the sensitive issue leaked to the media on Friday, CZI called on the Reserve Bank of Zimbabwe (RBZ) to suspend the foreign currency auction system after the Zimdollar fell to ...Published: 27 Apr 2022 at 11:39hrs | 740 | by Mandla Ndlovu
Please tell me the president is also paid in Zim dollars!
As a truly patriotic Zimbabwean - who earnestly cares about this country's development and fellow citizens' welfare and wellbeing - I make every effort in...Published: 26 Apr 2022 at 20:33hrs | 2328 | by Tendai Ruben Mbofana
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 | 1426 | 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 | 1724 | by Staff reporter
RBZ initiates think tank to assess banking products
THE Reserve Bank of Zimbabwe (RBZ) has created a think tank to examine new banking products and innovations prior to their launch, to assess their viability.The revelation came a day after the...Published: 25 Apr 2022 at 09:01hrs | 268 | by Staff reporter
RBZ rubishes CZI claims
THE Reserve Bank of Zimbabwe (RBZ) has dismissed calls by the Confederation of Zimbabwe Industries (CZI) for the suspension of the official foreign exchange auction system and scoffed at claims that t...Published: 25 Apr 2022 at 08:48hrs | 157 | by Staff reporter
RBZ on StanChart Zimbabwe exit
THE Reserve Bank of Zimbabwe (RBZ) says the divestiture of Standard Chartered Bank Zimbabwe Limited will result in change of ownership and control of the giant banking institution, which will continue...Published: 25 Apr 2022 at 08:47hrs | 781 | by Staff reporter
BREAKING: RBZ bans Innbucks from operating
The Reserve Bank of Zimbabwe Governor John Panonetsa Mangudya has ordered the immediate banning of InnBucks money transfer service over failure to regularise its operations. Mangudya said the order me...Published: 20 Apr 2022 at 18:33hrs | 2424 | by Mandla Ndlovu
'Mnangagwa will regret the day he appointed Mangudya, Mthuli Ncube,' says Biti
Former Zimbabwe Finance Minister Tendai Biti has said the move by the Reserve Bank to introduce a ZW$100 note is ill advised and a waste of time.Biti said the fact that the note can not buy an...Published: 09 Apr 2022 at 19:47hrs | 1971 | by Staff reporter
Global demand buoys tobacco prices
THE rising global demand for flue-cured tobacco has buoyed the firming of local golden leaf prices this season compared to last year.According to latest figures from a Germany company speciali...Published: 09 Apr 2022 at 08:30hrs | 102 | by Staff reporter
Zimbabwe faces cooking oil shortage
Zimbabwe is facing fresh cooking oil shortages following a sharp increase in edible oil prices on the international markets and foreign currency shortages leading to viability challenges f...Published: 08 Apr 2022 at 09:17hrs | 721 | by Staff reporter
Zimbabwe committed to clear debt arrears
The government is committed to clear its debt arrears with international financial institutions (IFIs) to unlock fresh capital, the Reserve Bank of Zimbabwe (RBZ) governor, John Mangudya (pictured) sa...Published: 08 Apr 2022 at 09:16hrs | 88 | by Staff reporter
Zimbabwe introduces new ZWL$100 note
The Reserve Bank of Zimbabwe is set to introduc a new ZWL$100 banknote gazetted in Statutory Instrument 68A of 2022 by the Minister of Finance and Economic Development. According to the statut...Published: 06 Apr 2022 at 10:15hrs | 3274 | by Mandla Ndlovu
RBZ acts on inflation, interest rates
THE Reserve Bank of Zimbabwe (RBZ) yesterday moved to curtail resurgent price increases (inflation) in the economy and stabilise the volatile parallel market exchange rate after its Monetary Policy Co...Published: 05 Apr 2022 at 06:43hrs | 531 | by Staff reporter
RBZ to double down in inflation fight
Reserve Bank of Zimbabwe (RBZ) will deploy various monetary tools at its disposal to stem out rampant "market indiscipline" that it believes is driving price increases.Market indiscipline, the...Published: 03 Apr 2022 at 08:20hrs | 189 | by Staff reporter
Biti tells Zimbabwe govt to shutdown the Reserve Bank
FORMER finance minister Tendai Biti says government must shut down the Reserve Bank of Zimbabwe (RBZ) arguing it has become a rogue and unnecessary institution.Speaking at a Zimbabwe Debt Inda...Published: 30 Mar 2022 at 07:29hrs | 3185 | by Staff reporter
RBZ releases US$100 million to clear auction backlog
THE Reserve Bank of Zimbabwe has released US$100 million to clear the backlog of foreign currency allocations at the RBZ's weekly auctions, Governor Dr John Mangudya said.The central bank intr...Published: 30 Mar 2022 at 07:18hrs | 105 | by Staff reporter
Ally lifts lid on Tagwirei's business exploits
SOUTH AFRICA-BASED Zimbabwean anti-sanctions campaigner, Rutendo Matinyarare, has lifted the lid on how controversial Kudakwashe Tagwirei took risks to build his business empire from his retrenchment ...Published: 25 Mar 2022 at 06:07hrs | 737 | by Staff reporter
Govt must implement economic reforms
IN 2017, Finance and Economic Development minister Mthuli Ncube, Reserve Bank of Zimbabwe governor John Mangudya and the Zanu-PF government lied to the people, saying the bond note was at par with the...Published: 21 Mar 2022 at 06:39hrs | 136 | by Staff reporter
RBZ shelves plans to sell gold buying unit
The Reserve Bank of Zimbabwe (RBZ) has indefinitely suspended plans to dispose of its controlling stake in the country's sole gold buyer, Fidelity Printers and Refinery, to new shareholders, a senior ...Published: 21 Mar 2022 at 06:21hrs | 225 | by Staff reporter
Currency: The long road of pain awaiting Zimbabwe
IN June 2019, the Zimbabwe dollar was officially reintroduced as the main legal tender for domestic transactions in the country amid scepticism from the general public concerning its sustainability. T...Published: 17 Mar 2022 at 05:49hrs | 1165 | by Staff reporter
'Zimbabwe yet to discover real exchange rate'
Faced by persistent macro – economic instability from parallel market exchange rate volatility, Zimbabwe introduced the foreign currency auction system in June 2020.Authorities were convince...Published: 13 Mar 2022 at 08:00hrs | 262 | by Staff reporter
Parly queries Chinamasa's role in TBs
FORMER finance and economic development minister Patrick Chinamasa approved a Treasury Bill (TB) worth over US$737, 9 million while his term had expired, a damning parliamentary report on the Command ...Published: 11 Mar 2022 at 18:13hrs | 215 | by Staff reporter
Who is benefiting from Zimbabwe's crazy fuel price hikes?
THE government is at it again, making the lives of Zimbabweans unbearable and the country nearly unlivable due to high fuel prices. And the worst is yet to come, after the Zimbabwe Energy Regulatory A...Published: 10 Mar 2022 at 06:11hrs | 1095 | by Staff reporter
Ukraine war hits global wheat supply
Zimbabweans should brace for higher bread and flour prices triggered by growing global demand for wheat following the closure of ports in Ukraine and disruption to supplies from Russia, the two countr...Published: 08 Mar 2022 at 08:23hrs | 358 | by Staff reporter
RBZ warns Ukraine war could result in price increases
THE Reserve Bank of Zimbabwe (RBZ) Monetary Policy Committee (MPC) has predicted that the ongoing armed conflict between Russia and Ukraine will have a knock-on effect on prices of goods and services ...Published: 06 Mar 2022 at 08:40hrs | 1463 | by Staff reporter
Govt to stimulate gold production
Government has put in place a host of measures to boost gold production starting this year as it angles the sector to contribute significantly towards the attainment of national vision 2030, Mines and...Published: 06 Mar 2022 at 08:15hrs | 42 | by Staff reporter
Taskforce to clampdown on currency manipulators
THE Reserve Bank of Zimbabwe (RBZ) is setting up a taskforce consisting of various law enforcement units to enhance capacity to arrest the indiscipline in the financial system. This comes after the Jo...Published: 04 Mar 2022 at 17:41hrs | 293 | by Staff reporter
RBZ clears US$200m auction forex backlog
The Reserve Bank of Zimbabwe (RBZ) says it has cleared the nearly US$200 million ring-fenced foreign currency backlog on the auction system.Governor, Dr John Mangudya said in an interview that...Published: 28 Feb 2022 at 05:18hrs | 165 | by Staff reporter
Hyperinflation headache for accountants
THE Institute of Chartered Accountants of Zimbabwe (ICAZ) last week cast doubts over the validity of financial statements, citing hyperinflation and exchange rate volatilities.It has been a re...Published: 27 Feb 2022 at 07:34hrs | 323 | by Staff reporter
Full Zimdollar return by 2027
THE Reserve Bank of Zimbabwe (RBZ) predicted yesterday that the domestic currency would completely run the economy in five years' time, with only pockets of the United States dollar complementing it....Published: 25 Feb 2022 at 07:41hrs | 3306 | by Staff reporter
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