Articles tagged 'reserve bank of zimbabwe'

ED 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...
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...
Prices spiral out of control 27 September 2018 HARARE - The price of cooking oil has shot up by more than 20 percent, adding to the cost-push inflationary pressures triggered by the recent wave of price adjustments.
Zim inflation to break records 21 September 2018 HARARE - Zimbabwe's annual inflation rate is expected to break records this year after it rose to 4,83 percent in August, gaining 0,54 percentage points from the July rate of 4,29 percent. The figure is now 0,17 percent short of the December projection of 5,0 percent by the World Bank. The ...
Fuel stations run dry 20 September 2018 HARARE - Most service stations in Harare have run dry with long queues emerging as the fuel crisis continues, despite Reserve Bank of Zimbabwe (RBZ) governor John Mangudya saying the sector is fully-funded. Mangudya told the Daily News yesterday that logistical challenges that were faced by th...
NPS transactions hit $3bn 18 September 2018 HARARE - Transactions processed through the National Payment System hit $3,16 billion for the week ending August 31, due to an increase in Real Time Gross Settlement, latest data show. According to the Reserve Bank of Zimbabwe (RBZ), the value of transactions processed through the RTGS system ...
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...
Suzan partnership lifts Fidelity exports 9 August 2018 HARARE - Fidelity Printers and Refiners (FPR) has managed to ramp up its gold production at the back of support from agents, including Suzan General Trading (Suzan), documents show. This also comes as the country's yellow metal output – for the first seven months to July – has risen to nearly ...
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...
'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...
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...
'Zim needs own currency' 20 May 2018 HARARE - Since the President Emmerson Mnangagwa-led new dispensation took charge last November, long-suffering Zimbabweans feel the country's economy has remained in the doldrums. The cash crisis, which started during deposed president Robert Mugabe's rule, has worsened, the illegal foreign cu...
'RBZ must regulate not ban cryptocurrencies' 14 May 2018 HARARE - Zimbabwe Information and Communication Technology Division (ZICT) and other IT experts have called on the Reserve Bank of Zimbabwe to regulate cryptocurrencies rather than banning them outright. A cryptocurrency is a digital or virtual currency that is not issued by any central bank a...
City must prioritise garbage collection 5 May 2018 HARARE - No matter how hard we attempt to give them fancy titles — some call them waste and recycling collection vehicles — but a garbage truck is still a garbage truck and its mission is humble but critical to the whole well-being of a functioning society: It picks up your mess and keeps your ...
Forex shortages hobble delivery of garbage trucks 5 May 2018 HARARE - Harare mayor Bernard Manyenyeni has been tasked by councillors to follow up on the delivery of refuse compactors that were purchased last year. According to ordinary council minutes, acting town clerk Hosea Chisango visited the Reserve Bank of Zimbabwe (RBZ) to inquire on the disburse...
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...
Inflation recedes 17 April 2018 HARARE - Zimbabwe's annual inflation shed 0,3 percentage points in March to close the month at 2,68 percent, latest data from the national statistical agency show. “This means that prices as measured by the all items Consumer Price Index increased by an average of 2,68 percent between March 20...
Don't lend govt, banks warned 13 April 2018 HARARE - Zimbabwean banks need to stop lending to government as their exposure to Treasury Bills (TBs) could work against the sector in the future, a local think tank has warned. In its 2018 Economic Review and Outlook, Econometer Global Capital (Econometer), warned that government expenditure...
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...
Annual inflation rate now 3,52pc 20 March 2018 HARARE - Zimbabwe's annual rate of inflation gained 0,6 percentage points in December 2017 to 3,52 percent in January 2018, latest official data shows, partly driven by the 2018 back to school spending. The Zimbabwe National Statistical Agency (Zimstat) said this means prices, as measured by t...
NPS payments decline 9 March 2018 HARARE - The value of transactions processed through the National Payments System (NPS) declined by five percent, to close the week ending February 23 2018 at $1, 628 billion according to the latest Reserve Bank of Zimbabwe’s (RBZ) Weekly Economic Highlights. RBZ said the decline was mainly dr...
Govt caps farmers' withdrawals at $300 8 March 2018 HARARE - The Reserve Bank of Zimbabwe (RBZ) has capped withdrawal limits at $300 for tobacco farmers. This comes as the 2017/80 tobacco marketing season is expected to commence soon, and on the back of a crippling cash crisis, which has seen banks fail to disburse withdrawals. “In order to ...
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...