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Army-linked Anjin grabs richest diamond claim
AN army-linked miner, Anjin Investments (Pvt) Ltd, grabbed the most lucrative diamond claim in Marange from a firm owned by the government after being relicensed under unclear circumstances, it has em...Published: 15 Jan 2021 at 07:47hrs | 1047 | by Kenneth Matimaire
'High value denominations will not affect inflation'
THE introduction of high value denominations into the economy will not result in high inflation as long as the Reserve Bank of Zimbabwe (RBZ) does not print too much money. Economic commentato...Published: 14 Jan 2021 at 07:52hrs | 337 | by Staff reporter
Zimdollar maintains stability after first auction of the year
THE Foreign Currency Auction Trading System resumed activity after the festive season break with the Zimbabwe dollar maintaining stability despite marginally weakening by 0,44 percent from an exchange...Published: 12 Jan 2021 at 17:58hrs | 1614 | by Staff reporter
RBZ has no plans of introducing Z$100 and Z$200 banknotes
THE Reserve Bank of Zimbabwe (RBZ) has said it has no plans of introducing Z$100 and Z$200 banknotes as suggested in some sections of the media.RBZ will soon introduce a new set of higher deno...Published: 12 Jan 2021 at 15:59hrs | 1225 | by Staff reporter
Forex auction resumes
THE Foreign Currency Auction Trading System resumes today after the festive season break amid expectations the exchange rate will have less pressure as demand for forex is traditionally low during thi...Published: 12 Jan 2021 at 08:38hrs | 321 | by Staff reporter
Zimbabwe to introduce new banknotes soon
THE Reserve Bank of Zimbabwe (RBZ) will soon introduce a new set of higher denomination banknotes to increase physical money supply, curb cash shortages and improve transacting convenience.Aut...Published: 10 Jan 2021 at 07:52hrs | 985 | by Staff reporter
The soft peg and local economic stability
Zimbabwe introduced the Dutch inspired foreign exchange auction system on the 23th of June to replace the fixed exchange rate (hard peg) of US$1: ZW$25 that had been in existence since 26 March 2020. ...Published: 08 Jan 2021 at 20:58hrs | 513 | by Victor Bhoroma
RBZ backs down on exporters' free funds
THE central bank has made a raft of major reforms to stabilise the foreign exchange market, including immediately scrapping the much-loathed compulsory requirement to liquidate unutilised export proce...Published: 08 Jan 2021 at 20:25hrs | 475 | by Staff reporter
Anti-graft crack team seizes $2 billion assets
A CRACK team made up of the Zimbabwe Anti-Corruption Commission (Zacc), the National Prosecuting Authority (NPA) and the Reserve Bank of Zimbabwe (RBZ) has seized luxury homes and top-end vehicles wor...Published: 08 Jan 2021 at 07:53hrs | 1428 | by Staff reporter
Zimbabwe govt says to re-engage new US admin
FINANCE minister Mthuli Ncube has said he does not expect any change to the United States policy on Zimbabwe despite the change of administration in that country when President-elect Joe Biden is inau...Published: 08 Jan 2021 at 07:49hrs | 740 | by Staff reporter
Zimbabwe mineral exports exceed target
ATTRACTIVE international prices for major minerals except gold, coupled with stability in the mining sector despite the COVID-19-related lockdowns has seen Zimbabwe's mineral exports exceed the projec...Published: 04 Jan 2021 at 22:25hrs | 232 | by Staff reporter
Surge in prices exposes profiteering businesses
THE recent surge in prices witnessed across a range of basic products is an indication of attempts at "profiteering" by businesses taking advantage of firm demand despite the strain of Covid-19. ...Published: 31 Dec 2020 at 10:32hrs | 161 | by Staff reporter
Electronic Fund Transfers fuel money laundering in Zimbabwe
CROSS-BORDER money traders are collecting huge sums in foreign currency in Zimbabwe and smuggling it into South Africa through the use of Electronic Funds Transfer (EFT).The illegal traders tu...Published: 27 Dec 2020 at 07:13hrs | 1031 | by Vusumuzi Dube
Bread price jumps 13,8%
THE price of a standard loaf of bread has risen by 13,8 percent this week to $82 from $72 and consumers feel the move is not justified. Some retailers, who had already effected the latest pric...Published: 25 Dec 2020 at 07:11hrs | 996 | by Staff reporter
RBZ to lower borrowing costs
Monetary authorities agree that there is need to lower the cost of borrowing in Zimbabwe in order to support high production in the economy, but are still studying key fundamentals to see if that will...Published: 24 Dec 2020 at 05:04hrs | 920 | by Staff reporter
RBZ clarifies use of USD
RESERVE Bank of Zimbabwe (RBZ) Governor Dr John Mangudya has explained the use of US dollars in the country, including value and legal status of the virtual form of the greenback. This comes a...Published: 22 Dec 2020 at 06:40hrs | 531 | by Staff reporter
RBZ urged retailers to accept torn and soiled US$ bank notes
THE Reserve Bank of Zimbabwe (RBZ) governor, John Mangudya has urged retailers and other traders to accept both old and worn out US dollar bank notes as legal tender.The central bank chief's p...Published: 22 Dec 2020 at 06:32hrs | 319 | by Staff writer
Mangudya threatens to freeze businesses' bank accounts
RESERVE Bank of Zimbabwe (RBZ) governor John Mangudya has threatened to freeze the bank accounts of businesses which are taking advantage of the lower forex auction rate to make exchange gains through...Published: 21 Dec 2020 at 06:38hrs | 1274 | by Kennedy Kaitano
RBZ to crack whip on auction abusers
THE Reserve Bank of Zimbabwe (RBZ) says it will request the Financial Intelligence Unit (FIU) to close bank accounts of business entities that are pricing using exchange rates not linked to the ruling...Published: 21 Dec 2020 at 06:14hrs | 171 | by Staff reporter
Zimbabwe banks weather the storm
ZIMBABWE'S banking institutions remained profitable during the year ended December 2019, reporting net income of $6,4 billion, an improvement from $389,9 million reported during the corresponding peri...Published: 20 Dec 2020 at 07:04hrs | 185 | by Staff reporter
Zimbabwe to set up 15 gold servicing centres
ARTISANAL and small-scale miners are optimistic that the proposed construction of more gold processing centres will ensure that the country generates the much-needed foreign capital and plug illicit m...Published: 20 Dec 2020 at 06:43hrs | 111 | by Staff reporter
Forex earnings inch closer to US$6 billion
The economy has been resilient for much of the year, with key macroeconomic fundamentals reflecting strong performance in the January to November period despite the fallout from the coronavirus, Reser...Published: 20 Dec 2020 at 06:40hrs | 130 | by Staff reporter
Minister Chitando dragged to court for 'grabbing' 8 gold claims
MINES Minister Winston Chitando is caught up in a controversial saga with a local businessman Yakub Ibrahim Mahomed who is accusing the senior government official of seizing eight "juicy" gold rich mi...Published: 20 Dec 2020 at 06:36hrs | 237 | by Staff reporter
Spooks investigate US$45m CAPS deal
ZIMBABWE's state security service, the Central Intelligence Organisation (CIO), is investigating a volatile commercial dispute that has erupted between the government and interim trustees of Caps Phar...Published: 19 Dec 2020 at 16:38hrs | 1251 | by Staff reporter
How South Africa can nudge Zimbabwe toward stability
What's new? As Zimbabwe's political and economic crises worsen, South Africa is moving beyond its policy of "quiet diplomacy" with its northern neighbour and applying more pressure on Harare to open...Published: 18 Dec 2020 at 06:42hrs | 1924 | by crisisgroup
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 | 5321 | by Staff reporter
RBZ ends Fidelity Printers monopoly
THE Reserve Bank of Zimbabwe (RBZ) has privatised its gold refining business, ending a monopoly that has been enjoyed by Fidelity Printers and Refiners. Fidelity controls Zimbabwe's gold ...Published: 17 Dec 2020 at 07:06hrs | 932 | by Staff reporter
Zimbabwe Diaspora inflows set for record levels
Zimbabwe's Diaspora remittances are this year expected to close at record levels of US$940 million, despite economic disruptions caused by the Covid-19 pandemic. Estimates from the Reserve Ban...Published: 17 Dec 2020 at 06:47hrs | 232 | by Staff reporter
MDC mayor charged with contempt of court
HARARE mayor Jacob Mafume today appeared in court on obstruction of course of justice or alternatively contempt of court for allegedly interfering with a key witness, Edgar Dzehonye, in another matter...Published: 16 Dec 2020 at 17:37hrs | 369 | by Staff reporter
RBZ to sell Fidelity Printers & Refinery
Reserve Bank of Zimbabwe has announced its intention to unbundle and dispose of part of its stake in Fidelity Printers and Refiners.According to a statement from RBZ governor John Mangudya, th...Published: 16 Dec 2020 at 15:09hrs | 1877 | by Staff reporter
Zimbabwe central bank accessed US$1.5 billion in offshore facilities in 2019
The Reserve Bank of Zimbabwe said it accessed offshore facilities more than US$1.47 billion in 2019 for Zimbabwe for balance of payments support as well to liquefy the since abandoned foreign exchange...Published: 16 Dec 2020 at 14:05hrs | 447 | by Staff reporter
Chombo, former Zanu-PF youth leaders' case deferred
Harare regional magistrate Mr Trynos Utahwashe yesterday deferred the matter involving former Local Government, Public Works and National Housing Minister Ignatius Chombo and ex-Zanu-PF youth leaders ...Published: 16 Dec 2020 at 06:41hrs | 301 | by Staff reporter
Zimdollar firms against the United States dollar
The Zimbabwe dollar traded firmer against the United States dollar in yesterday's foreign currency auction, edging up almost 0,15 percent, that is about one seventh of one percent, to $81,73 from $81,...Published: 16 Dec 2020 at 06:40hrs | 1038 | by Staff reporter
Reforming to rebuild Zimbabwe: A time for growth - Mthuli Ncube
With the recent announcements of vaccines to the Covid-19 pandemic, the world is staring through their dark tunnel to get a glimpse of the light....Published: 13 Dec 2020 at 05:55hrs | 892 | by Prof Mthuli Ncube
Econet seeks nod at accept US dollar payments
Telecommunications giant Econet Wireless Zimbabwe is looking to engage authorities for permission to take payments in foreign currency for some of its products. In March this year, the Governm...Published: 08 Dec 2020 at 06:27hrs | 265 | by Staff reporter
Former Zanu-PF official vows to take Mnangagwa head-on
RECENTLY-EXPELLED Zanu-PF Mashonaland Central official Goodman Tamuona Musariri says he is going to challenge President Emmerson Mnangagwa's legitimacy in the courts of law. He allegedly denounced Mna...Published: 06 Dec 2020 at 23:25hrs | 6634 | by Staff reporter
Bold revamp doubles EcoCash capacity
AN extensive revamp of the EcoCash platform that sent markets into complete turmoil in November last year doubled the mobile money transfer operation's capacity to 450 transactions per second, accordi...Published: 06 Dec 2020 at 08:36hrs | 1467 | by Staff reporter
Mthuli Ncube falsely claims there were only US$40m bank deposits under GNU
IN a clip of an interview with ZiFM Stereo, posted on Twitter on December 3, Finance minister Mthuli Ncube claimed that, under his predecessor, Tendai Biti, deposits in the banking sector were around ...Published: 06 Dec 2020 at 08:31hrs | 658 | by Staff reporter
Govt has no shares in Impala, says Dondo
IMPALA Car Rental chief executive officer Mr Thompson Dondo has opened up about the genesis of the business and ownership structure. The Sunday Mail last week tracked Mr Dondo to get a deeper understa...Published: 06 Dec 2020 at 07:47hrs | 145 | by Staff reporter
Mthuli Ncube should increase 2% tax to 5%, says Eddie Cross
ECONOMIST Eddie Cross Friday left business executives and other invited guests at the CEO Africa Roundtable in Harare, in shock after he proposed that Finance Minister Mthuli Ncube must increase trans...Published: 05 Dec 2020 at 06:23hrs | 2450 | by Staff reporter
Gono imposters dupe people money
UNSUSPECTING people have reportedly been duped an undisclosed amount of money by imposters who are reportedly abusing the name of former Reserve Bank of Zimbabwe governor, Gideon Gono asking for finan...Published: 05 Dec 2020 at 06:12hrs | 386 | by Staff reporter
Gideon Gono's stature abused in scam
IT HAS emerged that imposters are abusing the name of former Reserve Bank of Zimbabwe governor, Gideon Gono, to scam unsuspecting people.Gono told the Daily News yesterday that a number of peo...Published: 04 Dec 2020 at 16:15hrs | 2273 | by Staff reporter
Firms evade remitting forex taxes
THE Zimbabwe Revenue Authority (Zimra) says it has detected a string of scams in which some companies charging for goods and services in foreign currency have evaded paying taxes in forex.This...Published: 04 Dec 2020 at 07:20hrs | 735 | by Staff reporter
RBZ orders Zimbabwe banks to give forex
Reserve Bank of Zimbabwe (RBZ) governor John Mangudya has ordered banks to settle transactions outside the public glare as he cracks the whip on the sector amid revelations some banks were refusing cl...Published: 03 Dec 2020 at 07:06hrs | 9514 | by Staff reporter
Mthuli Ncube ordered to disclose foreign debts by High Court
THE High Court has ordered Finance minister Mthuli Ncube to publish details of all loans and guarantees incurred by government from January 2017 to December 1, 2020 with the African Export–Import Ba...Published: 03 Dec 2020 at 06:39hrs | 1318 | by Staff reporter
Lawyer up for theft of motor vehicle
A GURUVE-BASED lawyer Nancy Mabhoyi (37) of Mabhoyi and Associates has been summoned to Bindura magistrates' courts to answer a case of motor vehicle theft.Mabhoyi is set to appear in court on...Published: 03 Dec 2020 at 06:36hrs | 702 | by Staff reporter
Mangudya warns money launderers
THE governor of the Reserve Bank of Zimbabwe (RBZ), John Mangudya, says authorities will step up the current crack down on individuals and companies that are moving large but unexplained sums of money...Published: 02 Dec 2020 at 06:35hrs | 2390 | by Staff reporter
Zimbabwe scores high on debt management transparency
Zimbabwe has reasonably high ratings in the region in terms of debt management transparency according to the Open Budget Index (OBI). A country's budget transparency score, reflected on the OB...Published: 02 Dec 2020 at 06:14hrs | 117 | by Staff reporter
EcoCash revenue continues to dwindle
CASSAVA Smartech Zimbabwe Limited's subsidiary EcoCash's revenue contributions to the group continue to dwindle following recent operating measures effected by the Reserve Bank of Zimbabwe (RBZ) to cu...Published: 02 Dec 2020 at 06:13hrs | 554 | by Staff reporter
Diaspora remittances up 48% in 10 months, says RBZ
DIASPORA remittances increased by 48 percent to reach US$760 million in the 10 months to October 2020 compared to the same period last year, according to the Reserve Bank of Zimbabwe (RBZ).The...Published: 30 Nov 2020 at 19:02hrs | 283 | by Staff reporter
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