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Council refuse trucks stuck in SA for 3 years
FIFTEEN refuse trucks bought by Harare City Council in South Africa are stuck there almost three years on as it cannot raise over US$2 million required for their delivery. However, there are conflicti...Published: 20 Jan 2020 at 05:16hrs | 1141 | by Staff reporter
Zimdollar has been a disaster for asset values, economy
The introduction of Zimbabwe's own currency, the ZWL, in February 2019 has been a disaster as many economists, as well as ourselves, had predicted. Since it was launched the ZWL has fallen fro...Published: 19 Jan 2020 at 13:14hrs | 542 | by John Legat
Government controls fuelling the black market
Business at the country's parallel (black) market for foreign currency and other commodities has never been as brisk. Billions of dollars in local or foreign currency exchange hands on a daily basis i...Published: 16 Jan 2020 at 09:07hrs | 3871 | by Victor Bhoroma
Chiwenga/Marry divorce exposes Vice President capture
The legal battle between Vice President Constantino Chiwenga and his estranged wife Marry has opened a can of worms with the former army general revealing that he was given a Mercedes Benz vehicle by ...Published: 14 Jan 2020 at 08:27hrs | 13395 | by Staff Reporter
Reserve bank to inject 500m cash into circulation
The Reserve Bank of Zimbabwe (RBZ) plans to inject half a billion new notes and coins into circulation by the first half of this year, according to Finance and Economic Development Minister Mthuli Ncu...Published: 12 Jan 2020 at 08:07hrs | 2787 | by Dr Masimba Mavaza
Maize imports stepped up to beat shortages
Maize imports are being increased to beat shortages caused by drought, while large sums of money are being set aside to ensure the maize reaches the intended beneficiaries. According to the Re...Published: 06 Jan 2020 at 09:56hrs | 1455 | by Staff Reporter
Currency stability tops RBZ priorities -
Reducing inflation and maintaining a stable exchange rate are the Reserve Bank of Zimbabwe (RBZ)'s top priorities in the new year to bolster President Mnangagwa's drive to increase production, grow th...Published: 03 Jan 2020 at 00:28hrs | 3701 | by Staff Reporter
Fuel supplies normalising
Long fuel queues have disappeared in most parts of the country, with many service stations now having supplies and this is expected to continue as Government seeks a permanent solution, The Herald rep...Published: 31 Dec 2019 at 09:25hrs | 1364 | by Staff Reporter
Noose hangs over bigwigs as ZACC sharpens its claws
The anti-corruption drive has moved a gear up towards prosecution of individuals fingered in graft, with fresh revelations the Attorney-General's Office is now being ropped in to team up with the Nati...Published: 29 Dec 2019 at 07:46hrs | 3130 | by Staff Reporter
Battle for the RBZ and the 'Judas Iscariot' within?
One of Zimbabwe's financial publications had a very interesting, though not unusual story of one of the two Deputy Governors of the Reserve Bank of Zimbabwe (RBZ), Kupukile Mlambo, almost trashing the...Published: 25 Dec 2019 at 10:12hrs | 4173 | by Anthony Matutu
Zimbabweans not depositing cash back into banking system'
THE Bankers' Association of Zimbabwe (BAZ) says demand for cash remains higher than supply as many clients do not deposit their funds back into the system despite continued withdrawals. Long w...Published: 24 Dec 2019 at 06:03hrs | 657 | by Staff reporter
'Mthuli Ncube to blame for fuel shortages'
Energy and Power Development deputy minister Magna Mudyiwa has blamed the Finance ministry for the fuel shortages in the country.The previous Energy minister, Joram Gumbo, also earlier this ye...Published: 23 Dec 2019 at 15:46hrs | 1534 | by Staff reporter
Its flawed macro-economic governance systems, Stupid!
PUBLIC Accounts Committee (PAC) chairperson, Honourable Tendai Biti is not only an accomplished lawyer but has also authored a book with Greg Mills and former Nigerian president Olusegun Obasanjo. ...Published: 23 Dec 2019 at 14:44hrs | 272 | by Jameson Dapi
Central bank injects more notes into circulation
The Reserve Bank of Zimbabwe injected an additional $20 million of banknotes into circulation in the last week, with much of it channelled to the People's Own Savings Bank (POSB), used to distribute a...Published: 21 Dec 2019 at 07:37hrs | 1606 | by Staff Reporter
Motorists face dry festive season
ZIMBABWEANS face Christmas without fuel after government yesterday failed to proffer a solution to the fuel shortages in the country.Energy deputy minister Magna Mudyiwa told the National Asse...Published: 19 Dec 2019 at 05:19hrs | 1518 | by Staff reporter
Mthuli Ncube withdraws RBZ Amendment Bill
Finance and Economic Development Minister Professor Mthuli Ncube has withdrawn the Reserve Bank of Zimbabwe Amendment Bill before Parliament saying the issues it sought to address were already catered...Published: 19 Dec 2019 at 04:53hrs | 600 | by Staff reporter
More cash coming to end shortages, says Mthuli Ncube
Government is working to end cash shortages, eliminate cash discounts and the multi-tier pricing system which have negatively impacted on hard-pressed consumers. Further, the Government intend...Published: 19 Dec 2019 at 04:50hrs | 1332 | by Staff reporter
Mthuli Ncube to introduce $10, $20 notes
FINANCE minister Mthuli Ncube has hinted to Parliament that he will be introducing higher denominations of $10 and $20 notes in the near future.Ncube revealed this on Thursday in the Senate wh...Published: 18 Dec 2019 at 08:53hrs | 7564 | by Staff Reporter
'Air Zimbabwe to relaunch in 2020 with 5 planes'
FINANCE minister Mthuli Ncube says Air Zimbabwe will take off in earnest in 2020, with five planes.Ncube also told the National Assembly that Treasury was also going to assume the airline's to...Published: 13 Dec 2019 at 08:04hrs | 1069 | by Staff reporter
Zimbabwe faces a gloomy 2020
IN the three weeks since the 2020 national budget both the economy and Finance Minister Mthuli Ncube's recovery strategy have drifted closer to the rocks. In their stubborn refusal to heed development...Published: 13 Dec 2019 at 07:30hrs | 782 | by Anthony Hawkins
POSB simplifies banking services
THE People's Own Savings Bank (POSB) has started a process to simplify banking services and easing cash shortages for pensioners and clients in rural areas. General Manager banking operations,...Published: 13 Dec 2019 at 07:23hrs | 416 | by Staff reporter
Mnangagwa son-in law appointed into ZimCoke board
PRESIDENT Emmerson Mnangagwa's son-in-law, Gerald Mlotshwa is one of the most powerful individuals who have been appointed to the board of Redcliff based coke making firm, ZimCoke.A lawyer by ...Published: 12 Dec 2019 at 20:11hrs | 2961 | by Staff reporter
Mthuli Ncube's austerity measures pay off
THE state of Government finances remains healthy after revenue collections for the nine months to September 2019 surpassed the target at $11,316 billion against expenditure of $10,449 billion, which r...Published: 11 Dec 2019 at 06:35hrs | 6637 | by Staff reporter
Mthuli Ncube spending within his means
THE state of Government finances remains healthy after revenue collections for the nine months to September 2019 surpassed the target at $11,316 billion against expenditure of $10,449 billion, which r...Published: 11 Dec 2019 at 06:28hrs | 294 | by Staff reporter
Government blows unauthorised USD$ 10 billion
The Minister of Finance Mthuli Ncube is seeking parliament to endorse the unauthorised use of money amounting to about ten billion United States Dollars. In a publicised Financial adjustment b...Published: 10 Dec 2019 at 12:32hrs | 5124 | by Mandla Ndlovu
Zimbabwean law to criminalise redollarisation on the cards
Government will make use of the United States dollar illegal and plans punitive penalties for offenders under a proposed law as it seeks to shore up support for the local currency.Since the re...Published: 10 Dec 2019 at 07:15hrs | 2608 | by Staff reporter
$110m new notes, coins in circulation
So far, $110 million in new notes and coins have been "drip-fed" into the banking system since their introduction last month. While addressing business stakeholders at the Zimbabwe National Ch...Published: 10 Dec 2019 at 06:43hrs | 504 | by Staff reporter
RBZ to reject majority of debts owed to institutions
The Reserve Bank of Zimbabwe's Monetary Policy Committee plans to "reject the majority of debts" owed to institutions, a move it hopes will save the southern African nation much-needed foreign currenc...Published: 09 Dec 2019 at 15:18hrs | 3661 | by Staff reporter
RBZ rejects TBs bids
THE Reserve Bank of Zimbabwe (RBZ) rejected bids submitted for this week's $300 million Treasury Bills (TBs) auction with analysts saying the snub was due to the fact that the central bank could not m...Published: 09 Dec 2019 at 07:17hrs | 1146 | by Staff reporter
RBZ urges IMF to ignore economic crisis
The Reserve Bank of Zimbabwe has asked the International Monetary Fund to overlook the country's shortcomings in achieving fiscal targets and allow a programme to help restore the economy to run its c...Published: 08 Dec 2019 at 11:57hrs | 525 | by Staff reporter
'Our fundamentals are now sound' IMF told - not so with corrupt, rigged elections, game changers
"Zimbabwe's central bank has asked the International Monetary Fund (IMF) to overlook the country's shortcomings in achieving fiscal targets and allow a program to help restore the economy to run...Published: 08 Dec 2019 at 11:20hrs | 363 | by Patrick Guramatunhu
Bleak festive season as Government fails to guarantee fuel supplies
The Zimbabwean government has failed to guarantee citizens of adequate fuel supplies in the festive season in a development set to dampen the festive mood already affected by the country's failing eco...Published: 06 Dec 2019 at 10:25hrs | 1538 | by Staff Reporter
'TBs auction a success'
Finance and Economic Development Minister, Professor Mthuli Ncube said yesterday the Treasury Bills auction system re-introduced mid-this year to mobilise funding for Government operations...Published: 05 Dec 2019 at 06:29hrs | 346 | by Staff reporter
Zimbabwe needs commodities exchange markets
The recent revelations by the Zimbabwean government that the country loses over 30 tonnes of Gold (Worth around US$2 billion) to South Africa and other world markets, through smuggling every year are ...Published: 04 Dec 2019 at 10:14hrs | 794 | by Victor Bhoroma
Introduction of new currency a piecemeal solution
DURING the 2020 national budget presentation in Parliament last month, Finance minister Mthuli Ncube held up a note of the new Zimbabwe dollar and proudly announced that it was tough and resilient....Published: 04 Dec 2019 at 09:20hrs | 1168 | by Staff reporter
Significant decline in cash premiums: RBZ
THE Reserve Bank of Zimbabwe (RBZ) Monetary Policy Committee has said the recent injection of new bank notes and coins into the system has resulted in significant decline in cash premiums. In ...Published: 03 Dec 2019 at 07:18hrs | 1999 | by Staff rpeorter
RBZ tightens monetary policy
The Reserve Bank of Zimbabwe (RBZ) says it will take measures to counter the threat of high and potentially inflationary money supply growth from the 2020 growth-oriented budget by maintaining a stran...Published: 03 Dec 2019 at 07:04hrs | 785 | by Staff reporter
Zimbabwe's current economic meltdown beyond description
I am writing this piece writhing in agony because I see helplessness in our society with a moribund leadership on a broad scale. The current economic meltdown is beyond description especially given th...Published: 01 Dec 2019 at 10:20hrs | 2673 | by JJD Dube
This is how the cash gets onto the black market
The question is, how on this cursed land is money that the Reserve Bank of Zimbabwe (RBZ) is busy printing getting onto the black market in such huge amounts? The answer is, it's taking quite a team â...Published: 01 Dec 2019 at 06:11hrs | 3283 | by Tawanda Majoni
RBZ to roll out interbank e-trading platform
Monetary authorities are looking to enhance the efficiency of the foreign exchange interbank market by introducing a new electronic trading platform.The interbank market was introduced this Fe...Published: 01 Dec 2019 at 05:49hrs | 153 | by Staff rpeorter
Probe rogue RBZ, says Biti
PUBLIC Accounts Committee (PAC) chairperson Tendai Biti yesterday said the Financial Intelligence Unit (FIU) must be removed from being under the Reserve Bank of Zimbabwe (RBZ), alleging that the cent...Published: 30 Nov 2019 at 11:49hrs | 736 | by Staff reporter
Bring back the multi-currency regime, says Biti
FORMER Finance minister and Harare East legislator Tendai Biti says Zimbabwe needs to reintroduce the multi-currency regime, seek debt cancellation and liberalise the fuel industry, among other interv...Published: 29 Nov 2019 at 09:54hrs | 2798 | by Staff reporter
2020 Budget Hits and Misses
Zimbabwe's 2020 National Budget was presented amid high expectations from the market on the urgent need to turnaround the fortunes of the waning economy, restore incomes, and improve productivity and ...Published: 25 Nov 2019 at 11:17hrs | 1317 | by Staff Reporter
Government officials should be the first to declare where they get their forex
Minister of Finance Prof. Mthuli Ncube before requesting us to declare where our foreign currency is coming from when we bring in foodstuffs and household goods.The leadership of Zimbabwe should...Published: 24 Nov 2019 at 17:47hrs | 3306 | by Jacob Kudzayi Mutisi
Let's wield the whip if need be
No matter how many times it is told, the fable of "The Arab and the Camel" is never time-worn.Instead, it continues to hold an incredibly powerful reverence and relevance.Not surprisin...Published: 24 Nov 2019 at 14:04hrs | 89 | by Staff reporter
Come for more cash: RBZ
Banks have to continuously draw cash from the central bank to ensure uninterrupted supply to depositors, Reserve Bank of Zimbabwe (RBZ) Governor Dr John Mangudya has said.New cash and coins - ...Published: 24 Nov 2019 at 14:03hrs | 2006 | by Staff reporter
Tough forex controls loom
Importers will soon be required to declare the legal source of their foreign currency under legislation being drafted, as Government takes measures to kill the black market. Those who fail to ...Published: 23 Nov 2019 at 06:38hrs | 1150 | by Staff reporter
ZRP probes banks
THE Reserve Bank of Zimbabwe (RBZ) says a matter involving two banks alleged to have allowed their depositors to make withdrawals above the stipulated limit is now a police case.RBZ governor J...Published: 22 Nov 2019 at 18:26hrs | 4479 | by Staff reporter
RBZ conceals US$1bn fat cat loans
THE Reserve Bank of Zimbabwe (RBZ) has refused to hand over a list of beneficiaries of non-performing loans (NPLs) totalling US$1,13 billion which were inherited by the taxpayer via the Zimbabwe Asset...Published: 22 Nov 2019 at 18:12hrs | 5232 | by Staff reporter
There's a US$1,13 billion skeleton in the RBZ vault
EARLIER this year, I conducted an investigation into the catastrophic failings of Zimbabwe's governance architecture. For the most part, the probe focussed on the contribution of failed governance to ...Published: 22 Nov 2019 at 18:09hrs | 1722 | by Brezh Malaba
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