Articles tagged 'rbz'

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...
Acie Lumumba in new shocker 5 November 2018 HARARE - More details have emerged of rabble-rousing influence peddler William Gerald Mutumanje's recent hatchet job on top Reserve Bank of Zimbabwe (RBZ) officials and businessman Kudakwashe Tagwirei — all of whom he has fingered in corruption and the illegal trading of foreign currency — before...
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...
Acie Lumumba spills the beans 4 November 2018 HARARE - In a shocking claim which could put under pressure Finance minister Mthuli Ncube under further political scrutiny, rabble-rousing influence peddler — William Gerald Mutumanje — is spilling the beans on his recent hatchet job on the Reserve Bank of Zimbabwe (RBZ). The maverick former Z...
ED says Mangudya beyond reproach 4 November 2018 HARARE - Despite explosive broadsides being fired at the Reserve Bank of Zimbabwe (RBZ) governor John Mangudya, the 55-year-old neoclassical economist-turned banker will stay on in his job until February 2023. In an exclusive interview with the Daily News on Sunday, presidential spokesperson G...
'High domestic debt stifles economic growth' 3 November 2018 HARARE - The financing of a budget deficit predominantly through domestic debt, such as has been the case in Zimbabwe, leads to low economic growth rates, as well as subdued investment and entrepreneurial activities, Oswald Mungule, a policy analyst, has said. Treasury says the country’s domes...
Platinum output down 8pc 3 November 2018 HARARE - Zimbabwe's platinum output for the second quarter of 2018 stood at 3 438 kilogrammes (kg), down 8,2 percent from 3 744 kg produced in the first quarter of 2018, the central bank has said. The Reserve Bank of Zimbabwe (RBZ) said platinum ore output declined by 10 percent in comparison ...
Lumumba plans to tell all this Sunday 2 November 2018 HARARE - Controversial activist Acie Lumumba is threatening to spill more beans on Sunday, barely a week after his exposé ruffled feathers in the corridors of power. The self-proclaimed corruption buster said he will on Sunday expose the powerful people behind “Queen Bee”, whom many suspect to...
ED to extend central bank governor's term 2 November 2018 HARARE - President Emmerson Mnangagwa is extending the term of central bank governor John Mangudya which is due to expire in February, a spokesperson said yesterday. Mangudya has been in the post since March 2014 and is widely seen as a guarantor of monetary stability, although the Reserve Ban...
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...