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Mnangagwa to outline legislative agenda
President Emmerson Mnangagwa today officially opened the Second Session of the 10th Parliament, outlining the legislative agenda while delivering his State of the Nation Address to a joint sitting of ...Published: 02 Oct 2024 at 07:48hrs | 60 | by Staff reporter
Zimbabwe's new currency notes out this week
ZIMBABWEANS were transacting exclusively in United States dollars yesterday as the country began transitioning to the new currency — Zimbabwe Gold (ZiG) — following unveiling of the new gold-backe...Published: 07 Apr 2024 at 10:06hrs | 1 | by Staff reporter
Zimbabweans resort to comedy to cope with failing economy
Zimbabweans are resorting to comic relief in the face of a failing economy, as the local currency loses value by the day. After all, laughter is the best medicine.This week, government workers...Published: 16 Jun 2023 at 08:19hrs | | by Staff reporter
RBZ in bid to calm run on banks over currency fears
The Reserve Bank of Zimbabwe on Friday sought to calm a run on banks, insisting that depositors' funds were safe.Thousands of panicky Zimbabweans lined up in bank queues to withdraw their Unit...Published: 10 Jun 2023 at 17:53hrs | 1 | by Staff reporter
'Zimbabwe's $5 000 withdrawal limit no longer adequate'
THE transacting public has implored the Reserve Bank of Zimbabwe (RBZ) to consider increasing cash withdrawal limits saying the weekly $5 000 cap is no longer convenient given the exchange rate moveme...Published: 02 Feb 2023 at 08:24hrs | | by Staff reporter
Monetary Policy Analysis
The Reserve Bank of Zimbabwe (RBZ) presented its first monetary policy statement for 2022 on the 7th of February. The monetary policy comes after a 53.5% surge in foreign currency receipts from US$6.3...Published: 23 Feb 2022 at 19:41hrs | 10 | by Victor Bhoroma
RBZ defends bank withdrawal limits
RESERVE Bank of Zimbabwe governor John Mangudya defended bank withdrawal limits announced on Monday last week, saying while there has been a groundswell of criticism, the new levels were above average...Published: 14 Feb 2022 at 05:28hrs | | by Staff reporter
Biti says Mangudya is a fool
FORMER finance minister Tendai Biti has described the Reserve Bank of Zimbabwe governor as a fool, saying his monetary policies are insufficient to tame inflation.Biti said this in a scathing ...Published: 12 Feb 2022 at 16:44hrs | | by Staff reporter
'$5,000 withdrawal limit not enough'
DEPOSITORS have said the $5 000 weekly withdrawal limit was not enough as the amount does not meet their cash needs such as daily transport cost for members and cash rentals being demanded by landlord...Published: 10 Feb 2022 at 05:31hrs | | by Staff reporter
No joy from RBZ governor
RESERVE Bank of Zimbabwe (RBZ) governor John Mangudya yesterday declined to increase cash withdrawal limits to match recent price hikes, as he battled to limit cash in circulation in order to fight in...Published: 08 Feb 2022 at 05:37hrs | | by Staff reporter
UK online casinos in 2022
Over the past few years, if not months, we have seen a large number of new online casinos thanks to the convenience and affordability that online casino games are renowned for. And now that the larges...Published: 27 Dec 2021 at 19:21hrs | 14 | by Staff Writer
Govt earmarks US$120m for bonuses
GOVERNMENT released US$120 million to pay civil servants' bonuses in foreign currency in a bid to cushion them against the inflationary environment that has been experienced in the past few months....Published: 12 Dec 2021 at 19:54hrs | 7 | by Staff reporter
'Banks cash in on civil servants bonus'
SOME local banks are reportedly cashing in on civil servants' United States dollar bonuses through compulsory liquidation of their 13th cheque into local currency.This comes at a time when the...Published: 04 Dec 2021 at 07:21hrs | 8 | by Staff reporter
Biti says the introduction of $50 note is criminal
TOP economists are confident that the new $50 notes, introduced by the Reserve Bank of Zimbabwe Tuesday, will not trigger inflationary pressures.However, former Finance Minister Tendai Biti di...Published: 07 Jul 2021 at 16:30hrs | | by Staff reporter
Student teacher allowances raised to US$90 per month
Zimbabwe's government has raised student teacher allowances from US$1.50 per month to US$90 with effect from April after pressure from unions.Student teachers on attachment from colleges and u...Published: 27 Apr 2021 at 19:57hrs | | by Staff reporter
Mthuli Ncube refuses to increase cash withdrawal limits
FINANCE minister Mthuli Ncube says there is no need to increase the weekly $2 000 bank withdrawal limit for individuals as a move to combat the black market. This comes as the Treasury chief a...Published: 28 Mar 2021 at 16:25hrs | | by Staff reporter
RBZ warns against rejecting $5 notes
THE Reserve Bank of Zimbabwe has assured the transacting public that the $5 note was still legal tender, and warned businesses against rejecting the currency.In a statement on Tuesday, the cen...Published: 24 Feb 2021 at 21:52hrs | 6 | by Staff reporter
Zimbabwe's $50 note imminent
Zimbabwe announced on Thursday that it would shortly introduce a $50 note, while raising cash withdrawal limits to Z$2,000 per day from Z$1,000.The central bank also lifted its main lending ra...Published: 21 Feb 2021 at 22:30hrs | | by Staff reporter
Zimbabwean expats keep country afloat, remits $1 billion
Diaspora remittances to Zimbabwe jumped a record 58 percent from US$635.7 million to US$1 billion in 2020, the central bank said on Thursday, highlighting the key role played by expatriates in keeping...Published: 19 Feb 2021 at 07:24hrs | 1 | by Staff reporter
Cash withdrawal limits, lending rates go up
THE Reserve Bank of Zimbabwe (RBZ) has increased withdrawal limits to $2 000 from $1 000 and reviewed upwards the bank policy and private sector lending rates as part of comprehensive measures to stre...Published: 19 Feb 2021 at 06:49hrs | 1 | 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 | | by Staff reporter
High inflation drives cost of living
USAID food security arm, FEWS NET, says the cost of living in rural and urban areas continues to increase mainly driven by high inflation. In FEWS NET's December 2020 report, the food security organis...Published: 03 Jan 2021 at 07:43hrs | 7 | by Staff reporter
Mangudya to review bank withdrawal limits next week
Reserve Bank of Zimbabwe (RBZ) Governor Dr John Mangudya said next week the central bank will review upwards bank withdrawal limits that have been pegged at $300 per week for over a year now. ...Published: 18 Jul 2019 at 07:38hrs | | by Staff reporter
The RTGS dollar compounds Zimbabwe workers' troubles
THE government's decision to dump the United States dollar and adopt some form of local currency will hit workers the hardest as their incomes have been eroded with the floating of the exchange rate, ...Published: 24 Feb 2019 at 06:48hrs | | by Staff reporter
Growing role of Zimbabwe's Embassy in China
ZIMBABWE and China have excellent relations that date back to the pre-independence era. During the visit by His Excellency, President ED Mnangagwa, in April 2018, relations were elevated to the highes...Published: 13 Jan 2019 at 07:58hrs | 1 | by Mr Chikawa
RBZ boss freed on $6,000 bail
Mirirari Chiremba, the suspended Reserve Bank of Zimbabwe director of financial intelligence appeared in court on Thursday charged with criminal abuse of office.Chiremba, of Marlborough, Harar...Published: 07 Dec 2018 at 12:25hrs | | by ZimLive
A timeline of how Zimbabwe lost its currency
Today, November 14, marks the 21st anniversary of "Black Friday", the day the Zimbabwe dollar crashed in 1997.We track the Zimdollar's collapse from that fateful November day, and the many des...Published: 14 Nov 2018 at 15:10hrs | 4 | by newZwire with The Source
Cash crisis in Zimbabwe a crisis of discipline, confidence
The recent BBC HARDtalk session between opposition MDC Alliance leader Nelson Chamisa and host Steven Sackur opened a lot of debate. The issue has been debated in the newspapers and radio shows on how...Published: 17 May 2018 at 07:18hrs | 1 | by David Mhlanga
Mudzuri ready to take over from ailing Tsvangirai
Acting MDC-T president Engineer Elias Mudzuri has joined the race to take over the reins of the opposition party from ailing leader Mr Morgan Tsvangirai, who is battling colon cancer.Mr Tsvang...Published: 13 Jan 2018 at 08:43hrs | 1 | by Staff Reporter
Confidence in the financial sector
At the heart of the economy, is the financial system. And at the heart of the financial system, is the confidence in the sector. However the system is sensitive to the expectations of the unknown and ...Published: 29 Oct 2017 at 11:19hrs | 2 | by Tryson G. Dube
RBZ unearth malpractices in banks, tellers under fire
THE Reserve Bank of Zimbabwe has unearthed malpractices in the banking sector that could be fuelling cash shortages in the country.RBZ Governor Dr John Mangudya yesterday said a recent bank in...Published: 07 Oct 2017 at 05:48hrs | | by Staff Reporter
Read books of basic economics, Bimha's investigation of denial won't help
ZANU-PF's failure to take responsibility of the current crisis will only serve to worsen the situation. In an attempt to shift the blame to externals a misdiagnosis of the situation is bound to happen...Published: 27 Sep 2017 at 11:00hrs | 4 | by Jacob Mafume, PDP Spokesperson
Forex dealers rule the roost amid cash crisis
ILLEGAL foreign currency traders - popularly known as osiphatheleni - are flourishing in Bulawayo, as desperate Zimbabweans flock to them in attempts to access cash.While police descend on the...Published: 09 Aug 2017 at 12:48hrs | | by Staff reporter
IMF raises red flag over Zimbabwe cash crisis
The International Monetary Fund (IMF) has blamed Zimbabwe's unrelenting cash shortages on government's runaway spending and a comatose economy.IMF's outgoing mission chief for Zimbabwe Anna Lu...Published: 16 Jul 2017 at 14:32hrs | | by Staff reporter
Civil servants' bonuses worsen cash shortages
Government's decision to award civil servants bonuses without a subsequent increase in money supply on the market has worsened the country's cash crisis, with banks struggling to dispense cash to depo...Published: 06 Jul 2017 at 06:12hrs | | by Staff reporter
Mnangagwa 'command' banks to reduce charges
VICE-PRESIDENT Emmerson Mnangagwa has challenged financial institutions to bring down their charges to reduce the demand for cash and long queues at banks which have now become a permanent feature acr...Published: 29 Jun 2017 at 06:33hrs | | by Staff reporter
No official word on Zimbabwe adopting the Rand
The South African Reserve Bank has not received any official communication from Zimbabwean authorities for the adoption of the South African rand as the main unit of trade, Jabulani Sikhakhane, the di...Published: 26 Jun 2017 at 16:09hrs | | by Ray Ndlovu
Mugabe's government spending to intensify ahead of 2018 elections
PRESIDENT Robert Mugabe's government overspent by US$183,2 million during the first quarter of this year, sending a clear signal it may not stick to its fiscal plan as the country prepares for decisiv...Published: 15 Jun 2017 at 11:26hrs | | by Staff reporter
Are the $Bond notes chasing the $USD
As old as about 5 centuries, the Gresham's Law remains a fact. When two or more kinds of money of unequal exchange value are in concurrent circulation, each being available for payments, the other one...Published: 14 Jun 2017 at 16:23hrs | | by Tryson G. Dube
Govt jobs freeze saves $10 million monthly
The government claims it is saving in excess of $10 million each month following its job freeze imposed a few years ago.Finance ministry secretary Willard Manungo yesterday told the Parliament...Published: 13 Jun 2017 at 06:25hrs | | by Staff reporter
Diasporans can beat Zimbabwe's cash shortages with mobile payments
The crunching cash shortages in Zimbabwe are the source of much frustration and inconvenience. For those in the diaspora, especially, it is disappointing that after sending one's loved ones cash to me...Published: 12 Jun 2017 at 19:20hrs | | by Chofamba Sithole
Unscrupulous currency dealers 'exporting' bond notes
BOND notes are reportedly being shipped out of the country by unscrupulous currency dealers conducting their business across the country's borders.The dealers are exchanging them for foreign c...Published: 14 May 2017 at 11:50hrs | 10 | by Staff Reporter
The Rise and Fall of the Bond Note- Mashakada
MDC-T deputy secretary general Tapiwa Mashakada has lamented the rise and fall of the new Zimbabwean currency Bond Notes and Coins a development which has further crumbled the country's economic situa...Published: 03 May 2017 at 06:43hrs | | by Stephen Jakes
Zimbabwe @ 37: A pie in the sky
Zimbabwe is turning 37 on Tuesday 18th April 2017 with no symptoms of political and economic maturity. All this mess born out of ZANU PF's systematic abuse of the liberation struggle in the process tu...Published: 18 Apr 2017 at 07:36hrs | | by Marian Chombo
Sex, hunger and despair
It was a Wednesday night at the Tobacco Sales Floor (TSF) in Harare's Southerton area.A cold breeze swept through the cluttered makeshift shelters and vending sites constructed along t...Published: 16 Apr 2017 at 17:21hrs | | by Staff reporter
No cash crisis in Zimbabwe- RBZ boss claims
Reserve Bank of Zimbabwe Governor John Mangudya has claimed that there is no cash crisis in the country saying financial indiscipline was rife.He said U$900 million in cash and bond notes/coin...Published: 16 Apr 2017 at 08:24hrs | | by Staff Reporter
Civil servants responsible for cash crisis - RBZ
The Reserve Bank of Zimbabwe has blamed civil servants salaries for continued cash crisis which has forced several banks to reduce daily withdrawal limits to as low as $20.RBZ boss John Mangud...Published: 16 Apr 2017 at 04:53hrs | | by Staff Reporter
Zimbabwe panics as wheels come off
With Zimbabwe's economy continuing to die - as manifested by rising poverty levels, worsening job losses and severe cash shortages - the government is showing signs of panic, amid fresh warnin...Published: 15 Apr 2017 at 14:53hrs | | by Staff reporter
Banks reduce daily withdrawal limits
Several financial institutions on Monday reportedly reduced daily withdrawal limits to a mere $50 bond.The Reserve Bank of Zimbabwe had set $100 bond as daily limits but the new $5...Published: 03 Apr 2017 at 16:58hrs | | by Mary Charamba
Tobacco farmers cry foul over $1000 withdrawal limits
TOBACCO farmers have said the $1000 withdrawal limits imposed on them should be reviewed upwards. They claim the money is not enough to cover their needs....Published: 22 Mar 2017 at 05:15hrs | | by Staff Reporter
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