Articles tagged 'rbz'

RBZ suspends senior officers 23 October 2018 HARARE - The Reserve Bank of Zimbabwe (RBZ) has suspended senior directors after they were fingered in abuse of office allegations. RBZ director (bank supervision) Norman Mataruka; director financial intelligence Mirirai Chiremba; head of security Gresham Muradzikwa and director financial mark...
'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...
'Mangudya deserves our support' 19 October 2018 HARARE - Zimbabweans must support the country's recently announced monetary policy measures because they are “meant to preserve people's savings at banks”, a youth empowerment activist has said. This also comes as government has somehow backed a Zanu PF youth league's call for punitive action ...
'Tax pain must be shared' 15 October 2018 HARARE - While it is understandable for President Emmerson Mnangagwa to call on Zimbabweans to adjust to the two percent tax regime for better economic transformation, analysts believe that the pain should also be shared by those in power. On Monday, Mnangagwa urged citizens to bear the pain o...
Top lawyers say 2% tax is illegal as Zim inflation hits 155% 14 October 2018 HARARE - Government has triggered a storm after forging ahead to effect a draconian two percent tax on electronic transactions through a process legal experts say is unlawful. This comes as financial institutions, the Zimbabwe Revenue Authority and telecommunication companies began extending t...
Tax storm: Top lawyers say 2% tax is illegal 14 October 2018 HARARE - Government has triggered a storm after forging ahead to effect a draconian two percent tax on electronic transactions through a process legal experts say is unlawful.
2% tax begins 13 October 2018 HARARE - Despite the massive resistance which followed the unveiling of a draconian two percent tax on electronic transactions last week, government has now moved to make the fee lawful with immediate effect. A general notice published in the Government Gazette yesterday under Statutory Instru...
2% tax begins: as govt makes unpopular tax lawful 13 October 2018 HARARE - Despite the massive resistance which followed the unveiling of a draconian two percent tax on electronic transactions last week, government has now moved to make the fee lawful with immediate effect. [Adz] [GoogleAd]
Medical aid to be paid in forex 10 October 2018 HARARE – Thousands of struggling workers are at risk of failing to access medical services after the Association of Health Care Funders of Zimbabwe (AHFoZ) yesterday warned that it will soon start charging subscriptions in United States dollars. AHFoZ represents all medical aid societies in Zi...
RBZ disburses $40m to shore up fuel supplies 8 October 2018 HARARE – The Reserve Bank of Zimbabwe (RBZ) says it has disbursed $40 million towards the purchase of fuel to stem long queues across the country. In a statement, RBZ governor John Mangudya urged motorists not to engage in panic-buying of the commodity, claiming there is sufficient fuel availa...
'Currency woes to linger' 8 October 2018 HARARE – Zimbabwe's currency woes will linger as long as its awkward monetary system remains, a research think-tank BMI has said. The country's cash system is currently made up of a concoction of currencies, which includes the bond notes, a pseudo currency said to be backed by an Afreximbank f...
Finance minister in soup over tax - new measures not approved by ED 5 October 2018 HARARE - Finance minister Mthuli Ncube,  whose controversial two cents per dollar tax has caused palpable anger among long suffering Zimbabweans and business — jumped the gun in announcing the new measures which had not yet been approved by President Emmerson Mnangagwa, the Daily News can reveal....
Mnangagwa gamble backfires 4 October 2018 HARARE - President Emmerson Mnangagwa has got it all to do after the government's new measures to stabilise the country's sickly economy were rejected by a wide cross-section of the Zimbabwean populace — who feel that the steps taken by authorities this week will worsen their suffering, the Daily...
Ncube, Mangudya's steps 'inadequate, unhelpful' 4 October 2018 HARARE - Long-suffering Zimbabweans have expressed disappointment in the government's latest economic stabilisation measures that were announced on Monday, adding that they feared that things could take a turn for the worse in the country. In a bid to mitigate rising prices and the acute short...
Economic stabilisation steps 'inadequate, unhelpful' 3 October 2018 HARARE - Long-suffering Zimbabweans have expressed disappointment in the government's latest economic stabilisation measures that were announced on Monday, adding that they feared that things could take a turn for the worse in the country.
Zim's foreign reserves plummet 29 September 2018 BULAWAYO - Zimbabwe's foreign reserves have depleted to $200 million against a requirement of $1 billion cover as the country is struggling to emerge out of a near-recession, the Reserve Bank of Zimbabwe (RBZ) has said. Jesimen Chipika, the central bank deputy governor, on Thursday told indust...
RBZ registers 19 new micro financiers 15 September 2018 HARARE - The Reserve Bank of Zimbabwe (RBZ) yesterday said it has registered 19 new micro financiers, bringing the total number of such institutions to 194. The central bank's registrar of micro financiers registered the 19 institutions during the period extending from January to June 30, this...
Govt engages specialised services 4 September 2018 HARARE - Government seeks to engage specialised services of interest recalculation and recovery of potentially overcharged interest on accounts claimed by and granted to creditors when it assumed the Reserve Bank of Zimbabwe (RBZ) debt. In 2015, the-then president Robert Mugabe signed into law...
Trade deficit reaches $1,5 billion 29 August 2018 HARARE - Zimbabwe's cumulative trade deficit for the six months to July has reached $1,5 billion, latest trade data shows. Over the years, the country has persistently held an annual trade deficit of $3 billion on the back of falling industrial competitiveness. Latest figures released by th...
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...