Articles tagged 'rbz'

Banks get $7m weekly: RBZ boss 9 March 2019 Government is selling an average of $7 million to banks for trading on the newly-launched forex interbank market, with Finance and Economic development minister Mthuli Ncube saying government will stay out of the foreign currency exchange market to avoid disrupting the market structure.
Parly grills  Mangudya 5 March 2019 MEMBERS of Parliament's Public Accounts Committee (PAC) yesterday took Reserve Bank of Zimbabwe (RBZ) governor John Mangudya to task over the rising public debt and the activities of a vehicle established by the apex bank in 2014 to manage non-performing loans (NPLs).
It's squeaky bum time for unsung Mangudya 19 February 2019 LIKE many Manchester United fans around the world missing the good old days, I also regularly find myself reminiscing about the managerial prowess of Sir Alex Ferguson,
RBZ boss' bail conditions relaxed 26 January 2019 HARARE - Reserve Bank of Zimbabwe (RBZ) financial intelligence unit director Mirirai Chiremba's bail conditions have been relaxed.   Chiremba stands accused of criminal abuse of office after he allegedly reviewed a gold dealer's daily withdrawal amount to $195 000 from $95 000 at a time when t...
Microfinance loans up 9pc 10 January 2019 HARARE - Loans and advances in the microfinance sector increased nine percent from $272,95 million in March 2018, to close June at $297,52, the Reserve Bank of Zimbabwe (RBZ) said. In its report for the quarter to June 2018, the central bank said total assets for the sector grew by 14,38 perce...
Govt duped $3,5bn 6 January 2019 HARARE - Government has been prejudiced in excess of $3,5 billion by company directors who shut-down their firms in order to avoid payment of taxes only to re-establish themselves under different trading names. This was revealed by Finance minister Mthuli Ncube in the National Assembly last mo...
Forex allocation committee unveiled 6 January 2019 HARARE - Finance minister Mthuli Ncube has announced names of the foreign currency (forex) allocation committee in line with his 2019 National Budget statement. The nine-member committee will be co-chaired by senior officials from the Finance ministry and the Reserve Bank of Zimbabwe (RBZ). ...
Non-taxable income bracket needs review 3 January 2019 HARARE - Finance minister Mthuli Ncube needs to reconsider his decision to totally throw out of the window suggestions by Members of Parliament  for the non-taxable income threshold to be raised to $400. In his 2019 national budget, Ncube raised the non-taxable income threshold to $350 from $3...
Cash crisis persists 29 December 2018 HARARE - The cash crisis is worsening with some banks reportedly turning away their clients as early as 7am yesterday, advising that they had no money. Contacted for comment,  Reserve Bank of Zimbabwe governor John Mangudya, however, said there is no crisis and individuals should resort to pla...
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...
RBZ director charged with criminal abuse of office 7 December 2018 HARARE - Reserve Bank of Zimbabwe (RBZ) financial intelligence unit director Mirirai Chiremba was hauled before the courts yesterday facing charges of criminal abuse of office. Chiremba allegedly reviewed Suzan General Trading's application from $95 000 to $195 000, while the said application ...
'Zim economy unofficially dollarises' 2 December 2018 HARARE - Zimbabwe is undergoing bond notes substitution and progressive unofficial dollarisation, economists have said. This comes as more citizens are shunning the national currency in favour of the historically more stable US dollar. Zimbabwe abandoned its inflation-ravaged Zimdollar in 2...
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...
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...
RioZim resumes operations 17 November 2018 HARARE - RioZim has assured its shareholders that it has resumed smooth operations at three of its mines after finally managing to access foreign currency from the Reserve Bank of Zimbabwe (RBZ). This comes after RioZim issued a cautionary announcement on October 9, 2018 announcing closure of ...
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...
Money is the root of all evil 14 November 2018 HARARE - We all use money everyday and yet few of us really understand what these bits of paper or cotton or simply figures in a ledger, really mean. But we know the stuff is important. In economic terms the answer is actually quite simple, the stuff is a means of exchange, a store of wealth a...
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...