Search / Multi-currency regime
Nurses clash with Parirenyatwa over US$150 graduation fee
A storm is brewing at Parirenyatwa Group of Hospitals as graduate nurses demand clarity and flexibility over a mandatory US$150 graduation and administration fee - insisting that being forced to pay i...Published: 03 Jun 2025 at 09:25hrs | 357 | by Staff reporter
Zimbabwe targets 2030 to clear US$21 billion debt
Zimbabwe has set an ambitious 2030 deadline to clear its ballooning US$21 billion public debt, in a bid to create the foundations for a stable mono-currency regime anchored by the Zimbabwe Gold (ZiG) ...Published: 19 May 2025 at 09:21hrs | 126 | by Staff reporter
Zimbabwe schools warned against refusing ZiG
The government has issued a stern warning to schools that refuse to accept payment in the Zimbabwean Dollar (ZiG), stressing that such actions will result in disciplinary measures. This directive, whi...Published: 13 May 2025 at 10:15hrs | 163 | by Staff reporter
'ZiG must go'
The Zimbabwe Gold (ZiG) currency is facing mounting pressure from the business community, which is advocating for its removal due to increasing volatility, despite the Reserve Bank of Zimbabwe's (RBZ)...Published: 24 Oct 2024 at 08:02hrs | 2208 | by Staff reporter
Zimbabwe retailers make a case for multi-currency continuation
Retailers in Zimbabwe have urged the Reserve Bank of Zimbabwe (RBZ) to extend the multi-currency regime as official policy until 2030, warning that any abrupt move towards full dollarisation could sev...Published: 07 Oct 2024 at 07:52hrs | 1042 | by Staff reporter
'Embrace ZiG to bring stability'
Vice President Kembo Mohadi recently emphasized the importance of collective effort in embracing the ZiG currency, stating that it will contribute to a smoother transition towards a more stable econom...Published: 22 May 2024 at 09:42hrs | 1 | by Staff reporter
Zimbabwe govt must support ZiG currency through raft of solid measures
THE Reserve Bank of Zimbabwe (RBZ) has been urged to implement a raft of measures, including fiscal discipline, public consultation and policy consistency, if the newly introduced Zimbabwe Gold (ZiG) ...Published: 19 May 2024 at 11:55hrs | 14 | by Staff reporter
Zimdollar remains legal tender until month-end
The Zimbabwe dollar remains legal tender for all domestic transactions until April 30, when the Zimbabwe Gold (ZiG) notes and coins will come into circulation, the Reserve Bank of Zimbabwe (RBZ) has s...Published: 10 Apr 2024 at 06:02hrs | 3 | by Staff reporter
Why Mnangagwa cut short Mangudya's Zimbabwe Reserve Bank stay
PRESIDENT Emmerson Mnangagwa was yesterday forced to retire Reserve Bank of Zimbabwe (RBZ) governor John Mangudya a month earlier to give his successor room to come up with fresh measures to stabilise...Published: 29 Mar 2024 at 04:52hrs | 19 | by Staff reporter
Mnangagwa says parastatals should consider receiving payments in Zimdollars
GOVERNMENT has warned departments and parastatals accused of charging for services exclusively in foreign currency, saying they are acting outside the law.Speaking in Parliament during a quest...Published: 09 Mar 2024 at 11:13hrs | | by Staff reporter
'Bulawayo 80% forex rates illegal'
GOVERNMENT has said the decision by the Bulawayo City Council to force residents and businesses to pay 80 percent of rates strictly in foreign currency is illegal and ordered the local authority to re...Published: 20 Feb 2024 at 05:04hrs | 1 | by Staff reporter
Bulawayo City Council demands 80% of rates in forex
THE Bulawayo City Council (BCC) has passed a resolution compelling residents and businesses to pay 80 percent of their rates in foreign currency, arguing that service providers were demanding forex....Published: 18 Feb 2024 at 09:13hrs | 2 | by Staff reporter
Zimbabwe economy edges towards full dollarisation
THE economy is edging closer to full dollarisation amid reports that the informal sector is rejecting the dual pricing regime, exclusively selling in the United States dollar.Latest figures re...Published: 09 Feb 2024 at 06:58hrs | 3 | by Staff reporter
Schools defy Mnangagwa govt directive
Some rogue schools, including some in the public sector, are defying a clearly stipulated Government directives banning the exclusive charging of fees in foreign currency and forcing parents as well a...Published: 08 Feb 2024 at 04:27hrs | 3 | by Staff reporter
Schools warned against arm-twisting parents
As schools opened smoothly yesterday with cholera protocols and procedures being observed, the Government warned rogue school administrators against holding parents and guardians to ransom by turning ...Published: 10 Jan 2024 at 05:31hrs | 12 | by Staff reporter
Zimbabwe schools warned against forced uniform sales
THE Government will invoke Statutory Instrument 1 of 2000 against any school which forces parents and guardians to buy uniforms exclusively from the schools.Although the Ministry o...Published: 28 Dec 2023 at 07:26hrs | 10 | by Staff reporter
Zimdollar worse off since 2022
THE local currency, the Zimbabwean dollar, has continued to depreciate against the United States dollar on an unrestrained trajectory, despite various measures implemented by the Reserve Bank of Zimba...Published: 03 Dec 2023 at 19:20hrs | 12 | by Tinashe Duma
Luxury apartments named after Mnangagwa
President Emmerson Mnangagwa on Monday broke ground at the US$100 million Millennium Park development in Borrowdale West signaling the construction of the premium luxury 86-unit block of apartments na...Published: 27 Nov 2023 at 05:51hrs | 7 | by Staff reporter
'Zimdollar here to stay'
GOVERNMENT says it will announce a clear and transparent roadmap towards de-dollarisation to avoid shocks that may hurt the economy and drive citizens deeper into poverty.The country was due t...Published: 17 Nov 2023 at 05:06hrs | 8 | by Staff reporter
Woe to poverty-stricken Zimbabweans
IT never rains, but pours for the majority of Zimbabweans who are barely making ends meet as the cost of living continues to spiral out of reach.The Zimbabwe National Statistics Agency (ZimSta...Published: 31 Oct 2023 at 05:48hrs | 1 | by Staff reporter
Zimbabwe retailers index prices in USD
The foreign currency exchange rate system implemented by the Reserve Bank of Zimbabwe (RBZ) mandates that prices must be displayed in both local currency and foreign currency. Retailers are required t...Published: 31 Oct 2023 at 05:37hrs | 2 | by Staff reporte
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 | 30 | by Staff reporter
Mnangagwa reiterates call for mono-currency
President Mnangagwa has announced that Zimbabwe will transition back to using its local currency as the exclusive legal tender, discontinuing the multi-currency system. He emphasized that a country's ...Published: 13 Oct 2023 at 06:12hrs | 4 | by Staff reporter
Mnangagwa's son warns against Nehanda ZWL$50 note snub
Deputy Minister of Finance and Investment Promotion, Kudakwashe Mnangagwa, issued a warning to businesses refusing to accept the ZWL$50 note, emphasizing that they could face substantial penalties. He...Published: 12 Oct 2023 at 06:32hrs | 9 | by Staff reporter
Mthuli Ncube says Zimbabwean's economy is booming
Finance and Investment Promotion Minister, Mthuli Ncube, has stated that Zimbabweans should embrace the current favorable economic conditions, emphasizing that the country's economy is thriving....Published: 19 Sep 2023 at 06:31hrs | 3 | by Staff reporter
Winning teams are never changed
SPEAKING after his inauguration for a second successive five-year term in office on Monday, President Mnangagwa said his new administration will continue on its development trajectory of the past five...Published: 09 Sep 2023 at 07:42hrs | 3 | 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
Sanctions eroding value of Zimdollar
The depreciation of the Zimbabwe dollar is partly due to illegal economic sanctions imposed on the country by Western countries, the African Development Bank (AfDB) said in its African Economic Outloo...Published: 29 May 2023 at 06:30hrs | 1 | by Staff reporter
RBZ boss speaks on looming exit
The Reserve Bank of Zimbabwe (RBZ) governor John Mangudya says his top priorities are to leave behind a sound financial system, strong central bank, and stable prices as his two terms come to an end....Published: 16 Apr 2023 at 08:32hrs | 1 | by Staff reporter
Residents fume over substandard NBS houses
RESIDENTS of Gillingham Estate in Harare's Dzivarasekwa high-density suburb have threatened court action against the National Buildings Society (NBS) after they were sold substandard housing units....Published: 15 Mar 2023 at 06:44hrs | 1 | by Staff reporter
Zimbabwe risks another currency collapse
FULL dollarisation remains an unviable proposition for Zimbabwe, defiant Reserve Bank of Zimbabwe (RBZ) governor Dr John Mangudya says, despite the economy rapidly gravitating toward self-redollarisat...Published: 12 Feb 2023 at 07:20hrs | 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 sala...Published: 04 Feb 2023 at 20:11hrs | 1 | by Staff reporter
Anger will not solve Zimbabwe's plight
ANGER doesn't solve anything. It builds nothing, but it can destroy everything," wrote one African-American lawyer and politician, Lawrence Douglas Wilder.As Zimbabwe battles to navigate a tre...Published: 14 Jul 2022 at 07:34hrs | 2 | by Staff reporter
Mnangagwa's govt threatens retailers
GOVERNMENT yesterday threatened to withdraw trading licences of all retailers pegging their prices exclusively in United States dollars.Speaking during a post-Cabinet media briefing in Harare,...Published: 13 Jul 2022 at 07:20hrs | | by Staff reporter
Interbank rate now sole legal rate, huge penalties for breaches
The interbank exchange rate has been set as the sole exchange rate to be used in commercial and other transactions and anyone selling goods and services, who uses any other rate faces a minimum civil ...Published: 29 Jun 2022 at 07:42hrs | 1 | by Staff reporter
People have lost confidence in Zimdollar, says Minister
GOVERNMENT has all but admitted that Zimbabweans have lost confidence in the local currency, saying it was aware people were trooping to the black market to buy foreign currency to avoid a repeat of 2...Published: 19 Mar 2022 at 06:48hrs | 3 | 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 | 2 | by Staff reporter
Policy incentives to reindustrialization lacking
Zimbabwe aspires to create an upper middle income economy with a Gross Domestic Product (GDP) of US$65 billion by 2030. This vision is premised on the reindustrialization strategy where competitivenes...Published: 24 Nov 2021 at 10:35hrs | 17 | by Victor Bhoroma
Public confidence in Zimdollar keeps waning, no end in sight
THE revelation by Reserve Bank of Zimbabwe (RBZ) governor John Mangudya that the widening gap between the official and parallel foreign currency exchange rates is due to locals preferring the greenbac...Published: 27 Aug 2021 at 06:37hrs | 2 | by Staff reporter
Zimbabwe's poverty datum line increases
THE Zimbabwe National Statistical Agency (ZimStats) yesterday said the country's year-on-year inflation figure eased to 56,37% in July, down from 106,4% in June.ZimStats also said the total co...Published: 28 Jul 2021 at 07:48hrs | 1 | by Staff reporter
No need to compare Tendai Biti and Prof Mthuli Ncube
Following the recently introduced Statutory Instrument number 127 of 2021, where government has instructed the business community to use the Reserve Bank of Zimbabwe (RBZ) auction floor exchange rate,...Published: 03 Jun 2021 at 20:13hrs | 1 | by Mukachana Hanyani
Taming high inflation, economic priority
Despite the significant fall in annual inflation from 363% (In January) to 322% for the month of February 2021, prices for goods and services in the economy continue to increase marginally in every mo...Published: 09 Mar 2021 at 22:31hrs | 1 | by Victor Bhoroma
Zimbabwe borrowed US$1,4bn to prop up economy
ZIMBABWE borrowed US$1,4 billion from the African Export and Import Bank (Afreximbank) since 2017 to finance acquisition of strategic commodities, currency reforms and prop up the economy.Acco...Published: 16 Feb 2021 at 17:55hrs | | by Staff reporter
'Forex enough to stabilise rate'
The exchange rate of the Zimbabwean dollar against the US dollar will continue to hold steady on the weekly auction market because the country is earning enough forex to support critical imports, the ...Published: 12 Feb 2021 at 05:34hrs | 1 | by Staff reporter
Varun opens new production line
VARUN Beverages Zimbabwe Private Limited (VBZPL) has commissioned a new production line to ramp up production of its Aquaclear bottled mineral water.VBZPL is a subsidiary of the Indian headqua...Published: 10 Jan 2021 at 20:58hrs | 4 | by Staff reporter
Zimbabwe's economic outlook for 2021
Zimbabwe's economy ended the year 2020 on a fairly stable note due to the return of the multi-currency regime and decline in general inflation levels in the market. Headwinds caused by incessant power...Published: 08 Jan 2021 at 21:02hrs | 1 | by Victor Bhoroma
A toast for 2021, but......
We bid 2020 goodbye, the year many would want to quickly forget contrary to views, at least if one wears Zimbabwe's political lenses. The past nine months have been notorious given the COVID-1...Published: 01 Jan 2021 at 07:51hrs | 2 | by Staff reporter
Minister admits to policy inconsistency
INDUSTRY and Commerce minister Sekai Nzenza has admitted that inconsistent and often outdated policies hinder implementation of key government strategies.Nzenza was responding to Norton legisl...Published: 19 Dec 2020 at 05:51hrs | 1 | by Staff reporter
Biti slams govt over 'economic malaise'
MDC Alliance vice-president Tendai Biti yesterday slammed the ruling Zanu-PF party for presiding over "economic malaise", accusing President Emmerson Mnangagwa's government of being "incompetent"....Published: 25 Nov 2020 at 04:43hrs | | by Staff reporter
Partial dollarization to induce economic stability
The Zimbabwean economy has vaulted back to the multi-currency regime that prevailed between 2009 and 2018 with the US Dollar transactions gradually growing in the formal market while dominating trade ...Published: 03 Nov 2020 at 14:25hrs | 1 | by Victor Bhoroma
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