Articles tagged 'john mangudya'

Four RBZ executives absolved of wrongdoing 14 December 2018 HARARE - The Reserve Bank of Zimbabwe (RBZ) yesterday cleared four senior executives of any wrongdoing following their suspension on allegations of corruption and illegal foreign currency dealings. Their precautionary suspension was done after rabblerousing influence- peddler, William Gerald M...
Deal with currency crisis 9 December 2018 HARARE - As we count down on the year 2018, Zimbabweans are seized with a fragile surrogate local currency which is losing value every day. Prices are also going up and one fears that savings could soon be wiped out once again, as they were during the economic collapse and spectacular hyperinf...
So where to from here? 26 November 2018 HARARE - After weeks of conjecture we had the first budget of the new government on Thursday last week. Finance minister Mthuli Ncube was not thrown by the chaos that resulted when MDC members refused to respect the State President and were evicted from the House. Just what they thought the...
Uphill task for Mthuli Ncube 22 November 2018 HARARE - All eyes are on Finance minister Mthuli Ncube as he presents his maiden national budget today. The Finance minister has so far angered the generality of the Zimbabwean population after he introduced an unpopular tax on electronic transactions that triggered price increases of mostly b...
Fuel shortages hit Zim again 22 November 2018 HARARE - Government assured motorists yesterday that there were no shortages of fuel and urged them not to engage in panic buying after long queues built up at filling stations. Lengthy fuel queues were reported by motorists across Zimbabwe, including in the second capital Bulawayo, the easter...
Mangudya allays inflation fears 20 November 2018 HARARE - In a bid to reassure the mining sector that inflation will remain in check, Reserve Bank of Zimbabwe governor John Mangudya yesterday said he does not expect it to go up due to sound policies and vision 2030 that the government is pursuing. This comes after Zimbabwe's October inflat...
RBZ increases forex allocation to gold miners 17 November 2018 HARARE - The Reserve Bank of Zimbabwe (RBZ) has increased the amount of foreign exchange that gold companies can retain after a shortage forced some mines to close. Metal producers in Zimbabwe have been struggling to meet production costs because of the shortage of hard currency. That forced R...
Ncube needs consistency 13 November 2018 HARARE - Finance minister Mthuli Ncube will present his maiden National Budget next week Thursday against a background of huge economic challenges and public expectation that he is the man to help Zimbabwe out of its current rut. So far, Ncube has had an unflattering start to his tenure as evi...
Ncube under fire 12 November 2018 HARARE - Finance minister Mthuli Ncube has come under heavy fire after signalling his intention to acquire vehicles for the country's lawmakers as well as paying the thirteenth cheque for government's 550 000 strong civil service, the Daily News can report. While speaking on the state of the e...
Economic pain not being shared 12 November 2018 HARARE - Finance minister Mthuli Ncube's recent confirmation that government will soon buy vehicles for parliamentarians exposes government's insincerity in tackling its ballooning budget deficit. It also flies in the face of Ncube's claim to parliamentarians this week that Zimbabwe is putting...
Mthuli Ncube under fire 12 November 2018 HARARE - Finance minister Mthuli Ncube has come under heavy fire after signalling his intention to acquire vehicles for the country's lawmakers as well as paying the thirteenth cheque for government's 550 000 strong civil service. [Adz] [GoogleAd]
Mangudya pours his heart out 10 November 2018 HARARE - Reserve Bank of Zimbabwe (RBZ) governor John Mangudya has poured his heart out during a pre-budget seminar in Bulawayo on Thursday, saying it was unfortunate that the apex bank has become the target of attack despite the enormous work they are putting in addressing the difficult economic...
Zacc has nothing on Mangudya, Tagwirei 8 November 2018 HARARE - Despite the sensational accusations by flip-flopping activist Gerald Mutumanje — also known as Acie Lumumba — that seemed to suggest some wrongdoing on the part of businessman Kudakwashe Tagwirei and Reserve Bank of Zimbabwe (RBZ) governor John Mangudya, the Zimbabwe Anti-Corruption Comm...
Fuel supplies back to normal 7 November 2018 HARARE - Petrol supplies have returned to normalcy at most service stations, while diesel is still in short supply. Zimbabwe was rocked by fuel shortages soon after Finance minister Mthuli Ncube announced a two percent tax on electronic transactions, which came on the backdrop of indications t...
ED to review Ncube's 2 percent tax again 5 November 2018 HARARE - President Emmerson Mnangagwa says he will soon revise again under-fire Finance minister Mthuli Ncube's controversial two cents per dollar transaction tax — which caused widespread panic in the country when it was introduced last month. This comes after the Daily News accurately report...
SA firm offers Zim govt bail out deal 1 November 2018 HARARE - A South Africa-registered firm has tabled before the Reserve Bank of Zimbabwe governor John Mangundya a bailout package to import fuel and basic commodities into Zimbabwe as the economy sinks into recession. African Medallion Group (AMG) said — in a letter to Mangudya — the move is ai...
'Ncube will keep tripping over himself' 31 October 2018 HARARE - As long as Finance minister Mthuli Ncube doesn't play the politics of his appointing authority as well as of the ruling Zanu PF party he will keep on tripping over himself, analysts contend. These sentiments come after Ncube recently appointed Acie Lumumba as chairperson of the mini...
Blame game doesn't work 29 October 2018 HARARE - Finance minister Mthuli Ncube should be ashamed of himself for the unprecedented events that culminated in the suspension of senior Reserve Bank of Zimbabwe (RBZ) officials. This was an uncalled for action done to cover up for the ministers' careless and inconsistent pronouncements, w...
Auditors tasked to probe RBZ officials 26 October 2018 HARARE - The Reserve Bank of Zimbabwe (RBZ) has instructed auditors to urgently investigate officials accused of illegal forex trading. In a statement yesterday, RBZ governor John Mangudya said the bank's board of directors is seized with the matter and has directed its audit and oversight com...
RBZ commits to repaying airlines debt 24 October 2018 HARARE - Finance ministry, through the Reserve Bank of Zimbabwe (RBZ), has agreed to make monthly payment of $4 million towards a $150 million debt owed to international airlines. This comes as major airlines which were experiencing difficulties in foreign currency repatriation, had pulled the...
'Your days are now numbered' - ED warns illegal forex dealers 22 October 2018 HARARE - President Emmerson Mnangagwa has moved a step closer towards dealing decisively with unscrupulous Zanu PF bigwigs and businesspeople who are involved in the illegal trading of foreign currency in the country. As has been accurately reported by the Daily News over the past few days, Mn...
Currency crisis leaves prices soaring 22 October 2018 HARARE - At  supermarket in Harare, Zimbabwe's capital, the Finance minister is staring aghast at a pack of nappies. “This is absolutely ridiculous!”, exclaims Mthuli Ncube. “$49!” A manager says it cost $23 two weeks ago, before pointing out other eye-watering items such as $20 Coco Pops. ...
'Reducing govt waste, imposing taxes will revive economy': Ncube 21 October 2018 HARARE - The Daily News on Sunday deputy chief writer Tendai Kamhungira took time to speak to Finance minister Mthuli Ncube over the motive behind his controversial policy interventions. Q: What was the motive behind the introduction of the two percent tax regime? A: It's only one of the me...
Minister calls for political reforms 20 October 2018 HARARE - Finance minister Mthuli Ncube has urged the government to be receptive to the reform demands of the opposition and Western powers — as this will enable Zimbabwe to access help from overseas companies and multilateral institutions such as the International Monetary Fund and the World Bank...
AfDB confirms $500m Zim loan 20 October 2018 HARARE - The Reserve Bank of Zimbabwe is set to receive a $500 million loan from the African Export-Import Bank (Afreximbank), a move meant to arrest the sliding official foreign currency reserves and provide much-needed breathing space to the new government. This comes as Zimbabwe is in the t...