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Zimbabwe gold reserves rises 12%
The Reserve Bank of Zimbabwe (RBZ) has announced that its gold reserves have grown by 12% to over 3.1 tonnes since March this year, bolstering the country's efforts to build a more stable foreign exch...Published: 06 Jun 2025 at 12:06hrs | 108 | by Staff reporter
Zimbabweans abroad sent home US$1,9 billion in 9 months
Zimbabweans living abroad sent a record-breaking US$1.9 billion back home in the first nine months of 2024, marking a significant 16.5% increase from the US$1.6 billion remitted in the same period las...Published: 29 Nov 2024 at 07:17hrs | 378 | by Staff reporter
Delta, Zimra fight over US$ tax
DELTA Beverages Pvt Ltd is up in arms with the Zimbabwe Revenue Authority (Zimra) after the tax collector concluded that the company had improperly computed its income tax, resulting in the matter spi...Published: 29 Jan 2024 at 10:14hrs | 12 | by Staff reporter
Harare hacker steals US$30,000
A Harare man hacked into an account belonging to Premier Tobacco Auction Floors and stole US$30 000.Nyasha Mutasa (33) appeared before magistrate Dennis Mangosi charged with contravening the C...Published: 24 Dec 2023 at 16:11hrs | 13 | by Staff reporter
Vehicle owners demand US$ from Zec
OWNERS of vehicles hired by the Zimbabwe Electoral Commission (Zec) for various election-related tasks have lamented receiving payment in local currency at the interbank rate instead of United States ...Published: 14 Aug 2023 at 06:35hrs | 12 | by Staff reporter
Chiwenga punishing Zimbabwe's health workers?
VICE President Constantino Chiwenga has been accused by some disgruntled nurses of blocking salary and allowance increments in the health sector as punishment for past strikes and demonstrations....Published: 26 Apr 2023 at 19:43hrs | 2 | by Staff reporter
Huge appetite for Zimbabwe gold coins
ZIMBABWE'S central bank has registered an overwhelming uptake of the Mosi-oa-Tunya gold coin after local financial institutions, pension funds, insurance companies and individuals bought the bulk of t...Published: 31 Jul 2022 at 17:51hrs | 1 | by Staff reporter
ZANU PF MPs want 2023 elections postponed
With the party popularity nosediving from 51% in 2018 down to below 30% at present due to poverty, unemployment and poor economic policies, ZANU PF Members of Parliament (MPs) are sensing danger and w...Published: 25 May 2022 at 10:26hrs | 1 | by John Mbizvo
Maize farmers plead for a 50% USD payment
FARMERS are pleading with the Grain Marketing Board to raise to 50% United States dollar (USD) offer to maize farmers.Zimbabwe Farmers Union (ZFU) president Abdul Nyathi: "We welcome the...Published: 23 May 2022 at 06:41hrs | | by Staff reporter
ZANU-PF MPs want 2023 elections postponed
With the party popularity nosediving from 51% in 2018 down to below 30% at present due to poverty, unemployment and poor economic policies, ZANU PF Members of Parliament (MPs) are sensing danger and w...Published: 21 May 2022 at 16:05hrs | 10 | by John Mbizvo, Political Analyst
'Govt not withdrawing US$175 civil servants benefit'
The US$175 benefit paid to civil servants through their nostro accounts has not been withdrawn.In fact, the Government is working on several measures to improve the welfare of its workers, Sec...Published: 09 May 2022 at 07:04hrs | | by Staff reporter
Foreign currency deposits continue to surge
FOREIGN currency deposits in local banks continue to increase in a development indicating growing confidence in the country's banking sector, latest Reserve Bank of Zimbabwe (RBZ) data has reveals....Published: 11 Apr 2022 at 06:39hrs | 10 | by Staff reporter
Forex auction market a perfect looting front for the connected
BUSINESSES finally had enough and told the Reserve Bank governor John Mangudya that the Zimbabwe dollar was done as a sustainable currency. They do not want it.Last Wednesday, at a review of t...Published: 14 Feb 2022 at 05:29hrs | 2 | by Staff reporter
Zimdollar: The writing is on the wall
THE United States Agency for International Development food security watchdog, the Famine Early Warning Systems Network, reported a 20% increase in the price of bread and cooking oil last month....Published: 03 Feb 2022 at 05:42hrs | | by Staff reporter
No US$ bonus for nurses
HEALTH professionals have expressed disgruntlement after some of them allegedly received their bonuses in local currency while other civil servants were struggling to access their 13th cheques at loca...Published: 03 Dec 2021 at 05:34hrs | 11 | by Staff reporter
Civil servants seek bank charges exemption
Civil servants have asked Government to engage banks so that they are exempt from paying account maintenance charges to enable them to get their bonuses in full.Civil servants will this year b...Published: 25 Nov 2021 at 07:04hrs | 10 | by Staff Reporter
Civil servant's USD bonuses rate set
Civil servants will have their US dollar bonuses calculated on the conversion rate of $97,1361 to the US dollar, the rate existing when the decision was made.The bonus will include the total o...Published: 23 Nov 2021 at 05:52hrs | 9 | by Staff reporter
USD cash bonuses explained
CIVIL servants and Government pensioners will receive their bonuses later this month through bank deposits into their nostro accounts, Finance and Economic Development Minister Professor Mthuli Ncube ...Published: 14 Nov 2021 at 05:38hrs | 10 | by Staff reporter
Zimta demands forex bonuses for teachers
THE Zimbabwe Teachers' Association (Zimta) has demanded that teachers' bonuses be paid in foreign currency to cushion them against inflation.Bonuses for teachers are due this month.Tea...Published: 09 Nov 2021 at 05:35hrs | 10 | by Staff reporter
'US$500m changing hands outside banks'
ABOUT US$500 million could be circulating outside Zimbabwe's banking system, Reserve Bank of Zimbabwe (RBZ) estimates showed last week, as industries said they had raised only a fraction of billions r...Published: 08 Oct 2021 at 19:03hrs | 12 | by Staff reporter
90% of Zimbabwe's forex in formal market
ABOUT 90 percent of the country's foreign currency is now circulating in the formal market thereby stabilising the exchange rate and stimulating economic growth, Finance and Economic Development Minis...Published: 09 May 2021 at 08:09hrs | 11 | by Staff reporter
Zanu-PF MPs cry foul over forex accounts
Zanu-PF legislators say they are finding it increasingly difficult to conduct business because banks are rejecting their applications for foreign currency-dominated accounts citing sanctions by wester...Published: 18 Apr 2021 at 09:28hrs | | by Staff reporter
'Zanu-PF MPs blocking from opening nostro accounts'
BUHERA South MP, Joseph Chinotimba says he and some other Zanu-PF officials were struggling to find a bank that could allow them to open nostro accounts due to sanctions imposed on them by the United ...Published: 18 Apr 2021 at 08:55hrs | 2 | by Staff reporter
NMB opens Money Transfer and DSTV Centre
It is now possible to experience quick and focused service when collecting money sent from abroad and paying DSTV subscriptions. NMB Bank has opened a centre in Harare's central business district dedi...Published: 03 Mar 2021 at 13:56hrs | | by Agencies
RBZ clarifies use of USD
RESERVE Bank of Zimbabwe (RBZ) Governor Dr John Mangudya has explained the use of US dollars in the country, including value and legal status of the virtual form of the greenback. This comes a...Published: 22 Dec 2020 at 06:40hrs | | by Staff reporter
Mangudya slams Ncube tariff increases
RESERVE Bank of Zimbabwe (RBZ) governor John Mangudya has launched a rare scathing attack on the government for steeply increasing tariffs for public utilities, warning the decision will have serious ...Published: 18 Dec 2020 at 06:21hrs | 2 | by Staff reporter
Mnangagwa orders US-dollar payment on foreign currency pensions
PRESIDENT Emmerson Mnangagwa Friday ordered US dollar pension pay-outs on all investments under which workers injected foreign currency.This comes after thousands of Zimbabwean workers were be...Published: 28 Nov 2020 at 07:08hrs | 1 | by Staff reporter
RBZ swoops on foreign entities
THE Reserve Bank of Zimbabwe (RBZ) has launched an investigation into the conduct of at least 15 foreign-owned companies, which have allegedly externalised millions of United States dollars, according...Published: 27 Nov 2020 at 07:07hrs | 3 | by Staff reporter
Green Fuel selling ethanol in 'real money'
ZIMBABWE'S biggest ethanol producer Green Fuel is now selling the commodity in hard cash and accepts only transfers to its nostro foreign currency account accompanied by letters from the clients' bank...Published: 20 Nov 2020 at 06:12hrs | 11 | by Staff reporter
Zimra demands US$7m fuel import duty
DIRECT Fuel Imports Group Zimbabwe (DFIGZ), a grouping of small-scale fuel procurement firms, is seeking a relief order from the High Court that will nullify demands by the Zimbabwe Revenue Authority ...Published: 06 Nov 2020 at 06:55hrs | 2 | by Staff reporter
Probe exonerates Rushwaya
A PROBE into the alleged secret nostro accounts allegedly held by suspended Zimbabwe Miners Federation (ZMF) boss Henrietta Rushwaya has absolved the former football administrator of any wrongdoing....Published: 04 Nov 2020 at 05:50hrs | 7 | by Staff reporter
Zimbabwe in state of radical uncertainty, says Prof Hawkins
Zimbabwe is in a state of radical uncertainty, economic consultant Tony Hawkins told an Association of Healthcare Funders of Zimbabwe (AHFoZ) all stakeholders webinar on health on Wednesday."I...Published: 29 Oct 2020 at 12:50hrs | 1 | by Agencies
Zimdollar remains solid against Trump's dollar
For the second week running, the Zimbabwe dollar was virtually unchanged against the US dollar at the weekly auction, shifting just one two hundreth of one percent to $81,3499 from last week's $81,345...Published: 21 Oct 2020 at 21:44hrs | 2 | by Staff reporter
Civil servants forex payment extended
GOVERNMENT has pledged to extend the foreign currency non-taxable Covid-19 allowance for civil servants and pensioners to December as it maintains its position of providing a living wage for its emplo...Published: 10 Sep 2020 at 06:50hrs | | by Staff reporter
The futility of Mthuliconomics
We used to have that chap called Gideon Gono at the Reserve Bank of Zimbabwe. He was always full of energy, busy doing things that never solved any problem. The cynics called that egonomics.Go...Published: 11 Aug 2019 at 11:26hrs | 4 | by Tawanda Majoni
Mnangagwa govt getting in the way of its own reforms
FOR much of the past year, Zimbabwe's economy has oscillated between confusion and chaos, and as the second half of 2019 wears on, the headwinds show no immediate sign of relenting.This is in ...Published: 02 Aug 2019 at 08:04hrs | 1 | by Perry Munzwembiri
Closed banks: Depositors to be compensated in Zimdollars
GOVERNMENT has instructed its insurer to compensate holders of nostro accounts in closed banks in either US dollars or the equivalent in local currency, it was revealed.Currently, the Deposit ...Published: 24 Jul 2019 at 08:20hrs | 3 | by Staff reporter
'Nostro accounts balances won't be compensated'
Balances in nostro foreign currency accounts will not be compensated as they are currently not covered by the Deposit Protection Corporation (DPC), in the event of bank failure, an official has said. ...Published: 24 Jul 2019 at 08:06hrs | 1 | by Staff reporter
Zimbabwe nostro accounts have no deposit cover
Nostro account holders in Zimbabwe have no fall back in the event of bank failures amid startling revelations their accounts do not have deposit cover.Deposit Protection Corporation (DPC) chai...Published: 23 Jul 2019 at 14:53hrs | 5 | by Staff reporter
Tougher times ahead: Govt
FOREIGN Affairs minister Sibusiso Moyo says Zimbabweans should brace for three more years of hardship as government implements austerity measures to stabilise the economy, but workers warned of protes...Published: 23 Jul 2019 at 13:56hrs | 2 | by Staff reporter
SI 142 yields positive results
Having been asked by fellow Zimbabweans to clarify the impact of Statutory Instrument 142 of 2019 (SI 142/2019), announced by Finance and Economic Development Minister Professor Mthuli Ncube on June 2...Published: 15 Jul 2019 at 07:45hrs | 1 | by Tendai A. Chinamasa
Exchange rate upward pressure on
Exchange rate upward pressure onTHERE were signs this week that the grey market was slowly returning from its brief sabbatical following the monetary policy dawn raid of June 24 that called out th...Published: 12 Jul 2019 at 08:51hrs | 2 | by Brett Chulu
Zimbabwe to print $400 million bond notes
ZIMBABWE will print ZWL$400 million bond notes which it says will be drip-fed into the economy to cover the gap left after government banned the use of multi-currencies in local transactions.T...Published: 02 Jul 2019 at 08:32hrs | 3 | by Staff reporter
Recession, Zim Dollar return and Economic Outlook
As the country enters the last half of the year and warms up to the re-introduction of the Zimbabwean Dollar, it is now evident that the economy is swiftly sliding into a recession. In 2018, the econo...Published: 01 Jul 2019 at 12:20hrs | 1 | by Victor Bhoroma
Zimbabwe Currency: Taking back control
Zimbabwe is on a journey. A marathon. Indeed, sometimes it feels more of a steeplechase. As although the journey has just begun, we have faced a multitude of challenges to overcome already. This was n...Published: 29 Jun 2019 at 20:05hrs | 2 | by Prof Mthuli Ncube
Warriors' Afcon windfall revealed
Zifa has revealed that the Warriors players doing duty in Egypt have each been paid US$17 500 so after, following a barrage of criticism on the association as discontent among the players filtered thr...Published: 29 Jun 2019 at 16:47hrs | | by Staff reporter
International remittances recipients to get forex
Recipients of international remittances will continue receiving money in hard currency following the abolishment of multi-currency system or can be paid in local currency at a prevailing official exch...Published: 27 Jun 2019 at 06:35hrs | 1 | by Staff reporter
RBZ dismisses false reports on foreign currency
The Reserve Bank of Zimbabwe has dismissed information circulating on social media that banks have been instructed to any cash withdrawal of forex by clients. Zimbabwe was abuzz with informati...Published: 26 Jun 2019 at 10:57hrs | 1 | by Mandla Ndlovu
Mnangagwa justifies Zim dollar return
President Emmerson Mnangagwa has said Zimbabwe needed its own currency for its economy to kick off blaming the US Dollar pricing as the major cause of inflation in the country in the country. ...Published: 25 Jun 2019 at 16:03hrs | | by Staff Reporter
President Mnangagwa's full address to Zimbabweans
It has always been clear that for our economy to truly take off, we need our own currency. While the multicurrency regime helped to stabilise the economy, it did not give us control of monetary policy...Published: 25 Jun 2019 at 15:53hrs | | by Emmerson Mnangagwa
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