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How Zimbabwe can return to economic glory days
Former Economic Planning and Investment Promotion minister Tapiwa Mashakada (TM) believes Zimbabwe can return to its glory days of the early 1980s when the economy was stable and end poverty. He discu...Published: 12 hrs ago | 379 | by Staff reporter
RBZ plots ambush to rein in exchange rates
The Reserve Bank of Zimbabwe (RBZ) will henceforth use 'ambush raids' as a strategy within its array of policy interventions as the monetary authorities battle to break persistent buffeting of the dom...Published: 12 hrs ago | 950 | by Staff reporter
Zimbabwe's inflation spikes to 765.57% in April: Zimstat
Zimbabwe's year-on-year inflation galloped to 765.57 percent in April, up from 676.39 percent in the previous month, statistical agency Zimstat said on Tuesday.On a month-on-month basis, infla...Published: 12 hrs ago | 130 | by Staff reporter
Eric Bloch estate insolvent, says lawyer
A BULAWAYO lawyer has approached the High Court seeking a provisional order for liquidation of the estate of the late economist and former Reserve Bank of Zimbabwe (RBZ) adviser Dr Eric Walter Bloch....Published: 29 May 2020 at 14:19hrs | 1791 | by Staff reporter
RBZ freezes Redan Coupons' bank accounts?
Former Daily News Editor Stanley Gama has reported that the Reserve Bank of Zimbabwe Financial Intelligence have frozen accounts belonging to fuel giant over allegations of being involved in illegal f...Published: 29 May 2020 at 12:56hrs | 10268 | by Mandla Ndlovu
Mnangagwa, stew over economy
President Mnangagwa has directed Finance Minister Mthuli Ncube and Reserve Bank of Zimbabwe governor John Mangudya to announce economic stabilisation measures following a meeting on Wednesday. ...Published: 29 May 2020 at 08:45hrs | 4873 | by Staff reporter
Zupco bus deal a hot potato in govt circles
CABINET ministers were evasive this week after being asked to explain the details of a murky deal between the government and Landela Investments (Pvt) Ltd, a company linked to President Emmerson Mnang...Published: 29 May 2020 at 08:35hrs | 3332 | by Staff reporter
Tagwirei's business empire comes under scrutiny
WHEN Kudakwashe Tagwirei's father passed away in May 2018, the government came to a standstill.Cabinet was postponed, President Emmerson Mnangagwa, Vice-President Constantino Chiwenga, ministe...Published: 29 May 2020 at 08:31hrs | 2360 | by Staff reporter
Mthuli Ncube in catch-22 situation
THE provision of subsidies to small-scale gold miners in defiance of advice from the International Monetary Fund (IMF) has left the government in a quandary amid a rapidly deteriorating economy....Published: 29 May 2020 at 08:30hrs | 1806 | by Staff reporter
Clueless gaze in the face of free-falling Zimdollar
THE spectacular collapse of the Zimbabwean dollar in the past week has yet again exposed the government's bankrupt currency policies worsening the country's deepening economic crisis.The Zimdo...Published: 29 May 2020 at 08:17hrs | 417 | by Staff reporter
'Restrictions on ZIPIT counter-productive'
IN a desperate bid to halt the rapid weakening of the Zimbabwean dollar, the Reserve Bank of Zimbabwe (RBZ)'s Financial Intelligence Unit (FIU) has, with immediate effect, imposed daily and monthly tr...Published: 29 May 2020 at 08:15hrs | 628 | by Staff reporter
RBZ cuts Zipit transaction limits
THE Reserve Bank of Zimbabwe (RBZ)'s Financial Intelligence Unit (FIU) has directed all banks to review downwards Zipit transaction limits to ZWL$20 000 a day from ZWL$100,000 following abuse of the f...Published: 28 May 2020 at 17:09hrs | 3959 | by Staff reporter
RBZ governor needs prayers, not Zimbabweans
IT was difficult listening to central bank governor, John Mangudya speaking in Parliament without feeling patronised."I pray for Zimbabwe each morning, saying, ‘Oh God, help Zimbabweans unde...Published: 28 May 2020 at 08:02hrs | 1401 | by Staff reporter
Insights into Mangudya's era of fibs, fiddling
RESERVE Bank of Zimbabwe governor John Mangudya (pictured) says he has been praying for Zimbabweans to understand economics. Zimbabweans, in turn, have been making the same prayers - for him.T...Published: 28 May 2020 at 07:59hrs | 1291 | by newZWire
EcoCash court bid hits brickwall
The High Court has dismissed Econet Zimbabwe's mobile money platform, EcoCash's application which sought to interdict the Reserve Bank of Zimbabwe (RBZ) from suspending its mobile money agents....Published: 27 May 2020 at 07:54hrs | 703 | by Staff reporter
RBZ increases gold retention threshold
THE Reserve Bank of Zimbabwe (RBZ) has increased the gold retention threshold to 70 percent in foreign currency for sale proceeds from the previous 55 percent in a move aimed at boosting production in...Published: 27 May 2020 at 07:16hrs | 310 | by Staff reporter
Court upholds suspension of EcoCash agents
The Reserve Bank of Zimbabwe (RBZ) acted within its mandate when it suspended EcoCash mobile money agents from conducting financial transactions to curb abuse, the High Court has ruled, and so there c...Published: 27 May 2020 at 07:13hrs | 217 | by Staff reporter
BREAKING: Ecocash loses court case against RBZ
High Court of Zimbabwe has thrown out an application by EcoCash for the restoration of thousands of agent lines terminated by the Reserve Bank of Zimbabwe for suspected illegal forex trading. ...Published: 26 May 2020 at 13:56hrs | 9673 | by Mandla Ndlovu
Parallel market rates a bubble, says Mangudya
The rapid rise in parallel market foreign currency exchange rates is symptomatic of a bubble as it lacks any fundamental basis and could lead to economic depression, says Reserve Bank of Zimbabwe gove...Published: 26 May 2020 at 07:10hrs | 2448 | by Staff reporter
Zimbabwe fuel crisis set to worsen
DESPERATE motorists are set to endure more anguish at fuel pumps, after authorities admitted at the weekend that they were struggling to get foreign currency to import petrol and diesel.This c...Published: 25 May 2020 at 13:02hrs | 2527 | by Staff reporter
Wolves are at it again, destroying Zimbabwe's currency
Once again, officials at the Ministry of Finance and Economic Development, along with the honchos at the Reserve Bank of Zimbabwe (RBZ) find themselves on the back foot of powerful forces that are man...Published: 24 May 2020 at 22:03hrs | 2846 | by Andrew Lampard
Is our money safe in this lockdown?
JUST recently, Reserve Bank of Zimbabwe (RBZ) governor John Mangudya blamed a faceless devil for the economic crisis that a whole new generation now takes as custom.He was right. There is cert...Published: 24 May 2020 at 08:41hrs | 971 | by Tawanda Majoni
EcoCash saga: Arrest highway robbers, not Zinara officials
WHEN highway robbers become a menace, does it make sense for the authorities to solve the problem by arresting Zimbabwe National Roads Administration (Zinara) officials?This has become a burni...Published: 24 May 2020 at 08:38hrs | 1794 | by Brezh Malaba
'Zimdollar under siege again'
The Zimbabwe dollar is once again reeling under unrelenting pressure from speculative activities by crafty individuals seeking personal gain, it has been learnt.The Reserve Bank of Zimbabwe (R...Published: 24 May 2020 at 08:10hrs | 650 | by Staff reporter
RBZ can't import forex to buy gold
THE Reserve Bank of Zimbabwe is failing to ship in enough foreign currency to pay for gold purchases, a miners' group says.Fidelity Printers & Refiners (FPR), the central bank unit which i...Published: 23 May 2020 at 08:51hrs | 3676 | by Staff reporter
EcoCash limits ridiculously low in comparison to similar markets
THE Reserve Bank of Zimbabwe (RBZ) has been on a war path against EcoCash, one of Africa's successful mobile money service. The battle has been tariffs, barring of EcoCash agents and some crazy pronou...Published: 23 May 2020 at 08:50hrs | 1408 | by Staff reporter
RBZ charges Ecocash directors with money laundering
The Reserve Bank of Zimbabwe's Financial Intelligence Unit (FIU) has brought charges under the Money Laundering and Proceeds of Crime Act against Ecocash, the company's chief executive officer Natalie...Published: 23 May 2020 at 08:36hrs | 2043 | by Staff reporter
RBZ tightens screws on mobile money
The Reserve Bank of Zimbabwe (RBZ) introduced more measures yesterday affecting EcoCash agents as part of what is now seen as a policy to bring EcoCash agents into the formal banking system and ensure...Published: 23 May 2020 at 08:31hrs | 2553 | by Staff reporter
Operation restore legacy a failure
Emmerson Mnangagwa's Operation Restore Legacy has dismally failed the litmus test.The progressive Zimbabweans are sick and tired of this regime and are ready to give the system the knock out p...Published: 22 May 2020 at 11:37hrs | 1335 | by Leonard Koni
'Money printing impact is worse than Covid-19'
THE Zimbabwe National Chamber of Commerce (ZNCC) has warned government against printing money to fund the ZW$18 billion Covid-19 Economic Recovery and Stimulus Package saying to do so will have a more...Published: 22 May 2020 at 07:25hrs | 1360 | by Staff reporter
Queen B in Zupco buses procurement scandal
LEAKED government documents this week confirmed that buses initially said to belong to Zimbabwe United Passenger Company (Zupco) were imported by a private company Landela Investments (Landela), befor...Published: 22 May 2020 at 07:18hrs | 4635 | by Staff reporter
Kasukuwere farm take-over scuttles US$5m investment
THE invasion of former Local Government minister Saviour Kasukuwere (pictured)'s thriving Cornucopia Farm in Mazowe in Mashonaland Central province by a war veteran comes after the Reserve Bank of Zim...Published: 22 May 2020 at 07:14hrs | 4137 | by Staff reporter
US dollar court ruling set to trigger lawsuits
THE High Court judgement that compels those owed money in United States dollars to be paid in that currency could result in a litany of lawsuits, especially against financial institutions.The ...Published: 22 May 2020 at 07:13hrs | 939 | by Staff reporter
GMAZ boss Musarara spills the beans on Wadyajena
RAIN Millers Association of Zimbabwe (GMAZ) chairman Tafadzwa Musarara yesterday made sensational claims that Gokwe-Nembudziya MP Justice Mayor Wadyajena was using Parliament to settle personal scores...Published: 22 May 2020 at 07:11hrs | 2930 | by Staff reporter
Operation Restore Legacy a failure
PRESIDENT Emmerson Mnangagwa's Operation Restore Legacy has dis-mally failed the litmus test. Zimbabweans are sick and tired of this regime and are ready to give the system the proverbial suck...Published: 22 May 2020 at 07:04hrs | 438 | by Leonard Koni
Mobile money agents' 'illicit' deals exposed
THE Reserve Bank of Zimbabwe (RBZ) through its Financial Intelligence Unit (FIU) has established that most mobile money agent accounts were being abused and used as a conduit for illegal transactions ...Published: 22 May 2020 at 06:26hrs | 2310 | by Staff reporter
Ecocash-RBZ battle ruling today
High Court judge Webster Chinamora is today expected to make a ruling on Ecocash's application for an interdict against the Reserve Bank of Zimbabwe and allied institutions order to freeze several of ...Published: 21 May 2020 at 08:13hrs | 2285 | by Staff reporter
Mangudya likens money changers to coronavirus
RESERVE Bank of Zimbabwe governor John Mangudya (pictured) yesterday likened parallel market dealers to the coronavirus which is causing havoc to the economy. Appearing before the Parliamentar...Published: 21 May 2020 at 07:56hrs | 1321 | by Staff reporter
RBZ clarifies the suspension of EcoCash Agent accounts
The Financial Intelligence Unit (FIU) is being inundated by Ecocash (Private) Limited (Ecocash) clients whose agent accounts have been suspended pursuant to our directive issued on the 4th of May 2020...Published: 21 May 2020 at 07:47hrs | 2357 | by Financial Intelligence Unit
First Capital Bank fingered
The Reserve Bank of Zimbabwe (the Bank) has noted a picture circulating on social media showing a person holding bundles of ZW$10 notes, which banks started paying out to customers from the 19th of Ma...Published: 21 May 2020 at 07:40hrs | 1590 | by Staff reporter
RBZ not printing more money, says Mthuli Ncube
FINANCE Minister Mthuli Ncube has said the printing of new $10 and $20 denominations does not translate to the Reserve Bank of Zimbabwe (RBZ) printing more money, but it was merely swapping RTGS balan...Published: 21 May 2020 at 07:12hrs | 2400 | by Staff reporter
'Zimbabwe can sustain forex requirements'
The Reserve Bank of Zimbabwe (RBZ) says the country has adequate capacity to meet its monthly foreign currency requirements. According to central bank figures, Zimbabwe requires US$100 million a month...Published: 21 May 2020 at 07:10hrs | 710 | by Staff reporter
WATCH: Mangudya blames demons for economic collapse
Reserve Bank of Zimbabwe Governor John Panonetsa Mangudya told Parliament on Wednesday that he does not know the causes behind the dying Zimbabwe economy.Mangudya told parliamentarians that th...Published: 21 May 2020 at 00:09hrs | 6067 | by Mandla Ndlovu
New $10 notes start circulating
Some banks yesterday started issuing new $10 notes to customers queuing for cash, although others said they would only start availing them today. The red $10 notes were put into circulation by...Published: 20 May 2020 at 06:50hrs | 497 | by Staff reporter
Banks to swap RTGS for new notes: RBZ
THE Reserve Bank of Zimbabwe (RBZ) says banks will have to swap RTGS balances for new higher denomination notes, as part of the bank's strategy to keep a firm grip on money supply growth. The ...Published: 20 May 2020 at 06:50hrs | 934 | by Staff reporter
Mangudya's statement on the man who shot a video with bundles of banknotes
The Reserve Bank of Zimbabwe Governor John Panonetsa Mangudya says the central bank has located the man who broke social media after publicizing video footage of himself with bundles of the freshly mi...Published: 19 May 2020 at 14:29hrs | 5502 | by Mandla Ndlovu
Zanu PF govt scares away investors
WHAT is the point of investing in Zimbabwe, if one cannot take out the proceeds of such investments, or if you get the central bank's permission it can be reversed without any Act of Parliament, that ...Published: 16 May 2020 at 07:43hrs | 552 | by Mbire
Withdrawal limit increased
DEPOSITORS will be able to withdraw up to $1 000 weekly starting next Tuesday, the same day when new $10 and $20 notes will be introduced into circulation, the Reserve Bank of Zimbabwe (RBZ) said yest...Published: 16 May 2020 at 07:15hrs | 899 | by Staff reporter
New $10, $20 notes next week
New $10 and $20 banknotes are being introduced with the red $10 note circulating from Tuesday next week and the blue $20 note from the first week of June, the Reserve Bank of Zimbabwe (RBZ) has announ...Published: 16 May 2020 at 07:13hrs | 698 | by Staff reporter
RBZ introduces new $10, $20 notes
The Reserve Bank of Zimbabwe has introduced new $10 and $20 banknotes that will start circulating on Tuesday and the first week of June respectively.In a statement this afternoon, RBZ says fea...Published: 15 May 2020 at 15:32hrs | 1687 | by Staff reporter
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