BUSINESS NEWS

Bond notes unsustainable, fuel inflation, claims Fitch

Fitch Solutions, the macro-economic arm of global rating agency says Zimbabwe's currency regime is highly unsustainable and will continue to fuel inflationary pressures going forward.In 2009, the sout...

By Staff reporter | Published: 08 January 2019

BUSINESS NEWS

Valueless bond notes, the source of Zimbabwe's problems, say analysts

GOVERNMENT'S promise to avail foreign currency to the country's largest beverages manufacturer, Delta Corporation, to avoid forex pricing is not sustainable, analysts have said.Delta last Wednesday an...

By Staff reporter | Published: 06 January 2019

BUSINESS NEWS

Bond notes under siege

The bond note is increasingly suffering rejection from the corporate sector after Delta Corporation Limited went public on Wednesday saying it will be selling its products in hard currency.Delta said ...

By Staff reporter | Published: 04 January 2019

POLITICS

Law to compel forex recipients to charge in bonds

Government is crafting a law that compels business people who receive foreign currency allocation from Treasury to charge their products in local currency, President Mnangagwa said yesterday. Further,...

By Staff reporter | Published: 04 December 2018

BUSINESS NEWS

Bond notes and Zimbabwe's currency debate

WHEN Reserve Bank of Zimbabwe governor John Mangudya announced in 2016 plans to issue bond notes, a currency he claimed had the same value as the US dollar, many were apprehensive.It was backed by a U...

By Staff reporter | Published: 30 November 2018

BUSINESS NEWS

Mthuli Ncube sticks to bond notes

Finance minister Mthuli Ncube on Friday said the $8,2 billion budget for 2019 will address the currency crisis bedevilling Zimbabwe in the next few months, saying the shortage of the United States dol...

By Staff reporter | Published: 25 November 2018

BUSINESS NEWS

The bond note stays put

ZIMBABWE'S surrogate bond note currency will continue to circulate as Treasury says it will maintain the 1:1 parity between local money and the greenback. This is despite the disparity in exchange rat...

By Staff reporter | Published: 23 November 2018

BUSINESS NEWS

'Scrap bond notes'

PRESIDENT Emmerson Mnangagwa's new administration should consider scrapping bond notes, as a way of restoring confidence in the economy, industrialists have said.Zimbabwe introduced the surrogate curr...

By Staff reporter | Published: 06 September 2018

BUSINESS NEWS

Zimbabwe's bond notes vanish

BOND notes continue to vanish from the formal market, with latest statistics indicating that only seven percent of the unique currency's issued value was in circulation at the close of 2017.According ...

By Staff reporter | Published: 23 July 2018

BUSINESS NEWS

Industrialist defends bond notes

INDUSTRIALIST and United Refineries chief executive officer Mr Busisa Moyo has defended the bond note, saying the surrogate currency has never been a problem for business.Writing on his Twitter page r...

By Staff reporter | Published: 23 July 2018

BUSINESS NEWS

Only 4% of bond notes in effective circulation

Data released by the central bank shows that only 4 percent of bond notes and coins are in effective circulation, Equity Axis News reported. Effective circulation refers the portion of issued bonds th...

By Equity Axis News | Published: 19 July 2018

BUSINESS NEWS

'Bond notes are here to stay'

RESERVE Bank of Zimbabwe governor John Mangudya says the country's surrogate currency, the bond note, will be around for the foreseeable future.Zimbabwe introduced bond notes in 2016 to ease an acute ...

By Staff reporter | Published: 12 July 2018

POLITICS

Bond paper ballot case dismissed

THE High Court has dismissed a bid by little-known opposition Zanu party to force the Zimbabwe Electoral Commission (Zec) to print this year's ballot material on ordinary bond paper.High Court judge J...

By Staff reporter | Published: 05 July 2018

BUSINESS NEWS

Chamisa to ditch the bond notes in 2 weeks

MDC Alliance presidential candidate Nelson Chamisa has promised to ditch the bond notes as the country’s currency."Once we assume office in August just give me two weeks to deal with cash challenges...

By Staff reporter | Published: 03 July 2018

BUSINESS NEWS

RBZ bond wipes $1bn from market

The Reserve Bank of Zimbabwe (RBZ) says it has raised over $1 billion through the issuance of savings bonds to mop up excess liquidity from the market and fund Government expenditure. Last September, ...

By Staff reporter | Published: 29 June 2018

BUSINESS NEWS

Bond notes 'a PR disaster' for Zimbabwe

THE bond note poses an international public relations problem for Zimbabwe close to two years after its introduction, clouding the country's efforts to entice international investors, a financial anal...

By Staff reporter | Published: 22 June 2018

BUSINESS NEWS

'Exporters want bonded warehouses'

ZIMTRADE says it has been approached by exporters requesting the export promotion agency to engage relevant authorities to establish bonded warehouses in the country to enhance access to raw materials...

By Staff reporter | Published: 21 June 2018

POLITICS

Print ballots on bond paper, Zanu tells Zec

LITTLE-KNOWN opposition Zanu leader Chawaona Wilbroad Kanoti has dragged the Zimbabwe Electoral Commission (Zec) to court seeking an order compelling the electoral management body to print ballot pape...

By Staff reporter | Published: 05 June 2018

FINANCIAL SERVICES

RBZ can't account for bond notes in circulation

Reserve Bank of Zimbabwe (RBZ) deputy governor, Dr Jesimeni Chipika has said the central bank can no longer account for the bond notes and coins that are in circulation due to massive hoarding of the...

By Staff reporter | Published: 04 June 2018

BUSINESS NEWS

Zimbabwe advised to demonetise bond notes

GOVERNMENT has been advised to either demonetise bond notes or allow the fiat currency to float as a means of addressing financial market distortions in the country, a study paper by the Zimbabwe Econ...

By Staff reporter | Published: 01 June 2018

ZIMBABWE

More firms consider listing on bond market

TWO companies are considering listing their tradable bonds on the Financial Exchange Securities (FINSEC) to raise capital before year-end, it has emerged.FINSEC is the second securities exchange in Zi...

By Staff rpeorter | Published: 24 May 2018

MINING & RETAIL

BNC repays quarter of $20m smelter bond

Zimbabwe Stock Exchange (ZSE) listed integrated nickel miner, Bindura Nickel Corporation (BNC), has successfully repaid $5 million (25 percent) of the $20 million the company mobilised through a bond ...

By Staff reporter | Published: 18 May 2018

POLITICS

Chamisa promises to phase out bond notes

MDC-T and MDC Alliance presidential candidate, Nelson Chamisa, has pledged to retire Zimbabwe's surrogate currency, the bond notes, which are pegged at par with the United States dollar, by September ...

By Staff reporter | Published: 03 May 2018

BUSINESS NEWS

Traders reject bond coins

SOME retail shops are now rejecting bond coins as the surrogate currency introduced by the Reserve Bank of Zimbabwe (RBZ) in 2014 continues to lose value on the parallel market.Confederation of Zimbab...

By Staff reporter | Published: 02 May 2018

BUSINESS NEWS

Zimbabwe lacks capacity to issue sovereign bonds

Zimbabwe lacks capacity to issue sovereign bonds for its Sovereign Wealth Fund at the moment, a regional think-tank has warned, following a government announcement on launch of the fund shortly impend...

By Staff reporter | Published: 26 April 2018
Pages:
1
2
3
4

Latest News

Latest Published Reports

Latest jobs