Articles tagged 'rbz'

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 $827 million stashed abroad following the expiry of a 14-week-long amnesty, the Daily News can report. Read full story in today's paper. ...
ED to name, shame looters today 19 March 2018 HARARE - President Emmerson Mnangagwa is today bracing to name and shame individuals and companies that have refused to surrender public funds illegally stashed abroad after a deadline he set expired without their full cooperation. The new president — who came to power through a soft coup that...
Policy holders prejudiced billions of dollars 19 March 2018 HARARE - Insurance and pension industry players did not keep consistent and reliable asset values during the pre-dollarisation period, resulting in ordinary Zimbabweans failing to assess risks and ultimately investing their hard-earned money down the drain. This was revealed by a commission of...
Zim$ pensions values set at Z$13m/US$1 10 March 2018 HARARE - A commission of inquiry set up to probe the process used to convert pensions and insurance benefits following dollarisation of the economy in 2009 has come up with a conversion ratio from Zimdollar to US dollars. The nine-member commission chaired by retired judge Justice George Smith...
Zim's credit rating improves 8 March 2018 HARARE - Respected South Africa-based economic research firm NKC African Economics (NKC) yesterday upgraded Zimbabwe’s sovereign credit rating or ability to borrow money for the first time in nearly 20 years, saying continued progress on economic and institutional reforms would boost the country’...
RBZ issues savings bond 6 March 2018 HARARE - The central bank is issuing a seven percent per annum savings bond in a move aimed at providing investors with a platform to save and invest in high yielding instruments. According to a statement by the Reserve Bank of Zimbabwe (RBZ), the bond is open to individuals, companies, pensio...
Looters give ED govt first test 4 March 2018 HARARE - The new government of President Emmerson Mnangagwa, which has pitched the fight against corruption on top of its agenda, faces its first test in two weeks time when the extended deadline for those who externalised money and assets comes to an end. Mnangagwa issued a three-month morato...
Zim commits to debt clearance programme 14 February 2018 HARARE - President Emmerson Mnangagwa’s government says it is committed to repay its debts with the international community. Central bank governor John Mangudya said in line with the new economic order, government is intensifying the re-engagement process with the international community to im...
Stability stress tests for Zim banks: Mangudya 12 February 2018 HARARE - The Reserve Bank of Zimbabwe (RBZ) will start conducting comprehensive financial stability stress tests on the banking sector beginning September 2018 as it seeks to bring stability to the troubled sector. Central bank governor John Mangudya said the tests were part of measures aimed ...
Fuel prices set to rocket 17 January 2018 HARARE - Petrol prices are set to rocket in the next few weeks, experts predicted, driven by oil prices that touched the highest level in three-and-a-half years at $63,81 a barrel this week, which is 143 percent above the 2016 all time low of $26,21 a barrel. Diesel drivers could be even worse...
Those who play hard to get shall come to grief 17 January 2018 HARARE - Last month, President Emmerson Mnangagwa directed those who externalised money and assets to make arrangements to return their loot within three months. The three-month window is expiring on February 28 and chances that the moratorium would be extended look slim. Mnangagwa has prom...
'Tobacco earnings to improve forex situation' 17 January 2018 HARARE - The foreign currency situation will continue to be dire until the beginning of the tobacco selling season, a senior Reserve Bank of Zimbabwe (RBZ) official has said. William Manhimanzi, the apex bank’s deputy director of financial markets, told tourism operators in Harare last week th...
Foreign currency shortages to persist 15 January 2018 HARARE - Foreign currency shortages are expected to persist throughout this year despite promising economic turnaround following the inauguration of Emmerson Mnangagwa as Zimbabwe's President late last year. Market experts, Equity Axis, said local companies should brace for further dire shorta...
RTGS slump drags NPS payments down 13 January 2018 HARARE - The value of transactions processed through the National Payments System (NPS) declined by 37 percent, to close the week ending December 29, 2017 at $1, 675 billion according to the latest Reserve Bank of Zimbabwe (RBZ) Weekly Economic Highlights. RBZ said the decline was mainly drive...