Articles tagged 'rbz'

Banks to give out more cash: RBZ 7 August 2018 HARARE - The Reserve Bank of Zimbabwe (RBZ) says people should expect to withdraw more cash from their banks in the coming weeks, just like what happened at the weekend when Automated Teller Machines (ATMs) dispensed United States dollars to the amazement and elation of many. This comes as the...
Value of mobile transactions declines: RBZ 1 August 2018 HARARE - The value of mobile transactions processed through the National Payment System (NPS) declined by 0,2 percent to  $2,97 billion during the week ending July 13, 2018 from $2,98 billion the previous week, the Reserve Bank of Zimbabwe (RBZ) has said This is despite an increase in Real Tim...
No Zim dollar return: RBZ 5 July 2018 HARARE - The Reserve Bank of Zimbabwe (RBZ) has refuted claims circulating on social media about the reintroduction of the banished local unit. Social media sites such as WhatsApp, Facebook and Twitter were awash with a document purportedly issued by RBZ announcing a comeback of the Zimbabwe d...
'Zim's recurrent trade deficit toxic' 4 July 2018 HARARE - The central bank has warned that Zimbabwe’s recurrent trade deficits poses significant challenges as the country continues to rely on export revenues to generate liquidity and support domestic economic activity. In its March report, the Reserve Bank of Zimbabwe (RBZ) said Zimbabwe nee...
Prices of basic goods shoot up 1 July 2018 HARARE - Prices of basic consumer goods have gone up sharply over the past few weeks, on the back of worsening foreign currency shortages in the country. At the same time, experts warn that the price increases are set to continue beyond the July 30 national elections — as the insatiable demand...
'Zim situation worsening' 30 June 2018 HARARE - Zimbabwe’s situation — economic downturn, youth unemployment, corruption, human rights abuses and poor service delivery — has worsened over the past five years, a survey has revealed. According to the survey — conducted by Magamba Network in conjunction with Citizens Manifesto and the...
US dollar black market rate soars 28 June 2018 HARARE - A crazed pre-election demand for the United States dollar has pushed the black market premium to an all-time high as shortages of foreign exchange fuels a roaring currency black market now driving up food prices. Prices of basic commodities over the past few weeks have risen as busine...
Govt headache over moneychangers 7 June 2018 HARARE - Finance minister Patrick Chinamasa has blamed the police for failing to arrest unlicensed foreign currency traders saying there was a legal framework in place to curb the vice. This comes as the country is in the throes of a critical US dollar shortage it adopted as legal tender in 20...
Fuel imports consume $474m in four months 1 June 2018 HARARE - The Reserve Bank of Zimbabwe (RBZ) allocated about $474 million towards the importation of fuel in the first four months of the year, which is way above the $383, 1 million disbursed by the apex bank during the comparative period last year. Despite the significant jump in foreign curr...
Mnangagwa's anti-graft blitz loses steam 30 May 2018 HARARE - The anti-corruption crusade rolled out by President Emmerson Mnangagwa when he assumed the top office late last year is losing steam as the mighty and powerful are finding ways of escaping the long arm of the law, the Daily News can report. In his first few months in office, Mnangagwa...
Cash shortages stifle economic activity 27 May 2018 HARARE - Zimbabwe's liquidity constraints are now stifling economic activity, with  the impact of the currency shortage extending beyond everyday consumers and seeping into other sectors of the economy. This comes as most service stations in Harare have run out of fuel amid a worsening economi...
Fuel crisis surfaces 16 May 2018 HARARE - Several service stations in the capital and elsewhere have run out of fuel, amid conflicting explanations from the authorities and industry players as to the source of the shortages. [Adz]
Chinamasa grilled over cash shortages 10 May 2018 HARARE - MPs across the political divide yesterday grilled Finance minister Patrick Chinamasa over the Reserve Bank of Zimbabwe (RBZ)'s alleged involvement in the cash parallel market. This comes as the RBZ is suing opposition NPF spokesperson Jealousy Mawarire for allegedly fingering one of P...
Externalisation-accused Musakwa wins primaries 5 May 2018 HARARE - Musician-cum-politician, Elias Musakwa‚ named in a list released by President Emmerson Mnangagwa of people who illegally externalised funds, was elected as the Zanu PF nominee for a Bikita West National Assembly seat in chaotic primary polls. Musakwa allegedly externalised $9 million ...
RTGS payments decline 24 April 2018 HARARE - Transactions that passed through the Real Time Gross Settlement (RTGS) system in the week to March 29, 2018 were down 14 percent to close the week at $1,5 billion from $1,7 billion, official data shows. In its report for the week under review, the Reserve Bank of Zimbabwe (RBZ) said t...
Cash transactions rise 17pc 11 April 2018 HARARE - Zimbabweans lived it up during the month of December last year in spite of the country's liquidity challenges, latest data from the Reserve Bank of Zimbabwe indicates. In its December 2017 monthly report, the central bank said the total value of cash transactions was 17 percent higher...
Panic as net closes in on forex abusers 4 April 2018 HARARE - Despite feigning bravado in public, companies fingered in the externalisation of foreign currency and other assets are making a beeline for the Reserve Bank of Zimbabwe (RBZ) to negotiate relaxed deadlines within which they can rectify their positions. The Daily News can reveal that n...
Business tackles govt over forex list 27 March 2018 HARARE - Several companies that were last week named as having externalised foreign currency have approached government challenging the list which has strained the relationship between authorities and business. On Monday last week, President Emmerson Mnangagwa released the long-awaited list of...
Arts promoters implicated in money externalisation 21 March 2018 HARARE - Popular arts practitioners Elias Musakwa and Partson "Chipaz" Chimbodza among others are some of the few artists who have been implicated by government in a money externalisation scam. The government unveiled a list with over a thousand individuals/organisations that have been caught ...
Big talk hurts an expectant nation 21 March 2018 HARARE - The hullabaloo over the $1,3 billion alleged to have been funnelled outside the country's borders by greedy individuals and corporates turned into an anti-climax on Monday. The list of alleged culprits circulated by the Office of the President and Cabinet has raised more questions tha...
Mnangagwa's forex looters list a big joke 20 March 2018 HARARE - President Emmerson Mnangagwa's government yesterday released the long-awaited list of companies and individuals alleged to have failed to return $827 million stashed abroad following the expiry of a 14-week-long amnesty, the Daily News can report. The list, which reads like a housewi...
Mnangagwa's list of looters deflating 20 March 2018 HARARE - President Emmerson Mnangagwa, since assuming office on November 24 last year, has really tried hard to stamp his mark on the country’s politics. He has been consistent in preaching about economic reform, peace and re-opening Zimbabwe’s business to the outside world. It must be said...
ED's forex looters list a big joke 20 March 2018 HARARE - President Emmerson Mnangagwa's government yesterday released the long-awaited list of companies and individuals alleged to have failed to return $827 million stashed abroad following the expiry of a 14-week-long amnesty, the Daily News can report. Read full story in today's paper. ...
ED to name, shame looters today 19 March 2018 HARARE - President Emmerson Mnangagwa is today bracing to name and shame individuals and companies that have refused to surrender public funds illegally stashed abroad after a deadline he set expired without their full cooperation. The new president — who came to power through a soft coup that...
Policy holders prejudiced billions of dollars 19 March 2018 HARARE - Insurance and pension industry players did not keep consistent and reliable asset values during the pre-dollarisation period, resulting in ordinary Zimbabweans failing to assess risks and ultimately investing their hard-earned money down the drain. This was revealed by a commission of...