BUSINESS NEWS

Local currency long overdue, analysts

The current uptake of about 85 percent in transactions using the local RTGS systems is a clear sign Zimbabwe is now nearing the stage where it might be convenient to introduce a new local currency.Eco...

By Staff reporter | Published: 05 May 2019

OPINION

Local currency comeback most welcome

The madness seems relentless across all platforms.One school of thought is that  sooner than later, the RTGS rate to the US dollar will reach its full elasticity, beyond which it will not advance...

By Garikai Mazara | Published: 05 May 2019

ZIMBABWE

ZSE in foreign currency headache

THE Zimbabwe Stock Exchange (ZSE) is now looking at collaborating with other bourses in order to assist distressed firms raise foreign currency as forex shortages worsen in the country.Foreign investo...

By Staff reporter | Published: 03 May 2019

INDUSTRIALS & ENERGY

Currency issues hit Pick n Pay performance

PICK N PAY's Zimbabwean subsidiary TM Supermarkets took a 6,3 percent drop in profits in the 52-week period to end of March as it adjusted to currency and exchange reforms. The South African headquart...

By Staff reporter | Published: 01 May 2019

CONSTRUCTION & PROPERTY

Currency crisis hits real estate sector

Zimbabwe's real estate sector is under immense pressure to review rentals in response to the country's deteriorating economy, which has resulted in rising operating costs, defaults and voids.First Mut...

By Staff reporter | Published: 28 April 2019

INDUSTRIALS & ENERGY

Fertiliser manufacturers to engage RBZ over foreign currency support

GOVERNMENT has been called upon to channel foreign currency towards the manufacturer of fertlisers in order to preserve jobs and prevent damage to soil by imported chemicals.This came out in a stateme...

By newzimbabwe | Published: 24 April 2019

BUSINESS NEWS

Local currency recipe for disaster

FINANCE minister Mthuli Ncube's recent pronouncements that Zimbabwe will revert to using its own currency, a decade after it abandoned the local dollar in favour of a basket of currencies is not feasi...

By Staff reporter | Published: 19 January 2019

POLITICS

Chamisa want civil servants paid in hard currency

Government should make efforts to pay civil servants salaries in foreign currency, MDC president Nelson Chamisa has said.This comes as the on-going strike by doctors has entered its fourth week, after...

By Staff reporter | Published: 31 December 2018

POLITICS

Zanu-PF admits currency chaos

Zanu-PF has admitted that the government's monetary policies have failed and that it fears the worsening economic crisis could lead to riots.The ruling party's committee on the economy made the admiss...

By Staff reporter | Published: 23 December 2018

FINANCIAL SERVICES

Zimnat introduces hard currency payment option

Zimnat General Insurance has introduced a hard currency insurance payment option to enable its clients to retain the value of their insured assets in the event of their sustaining a loss and making an...

By Staff reporter | Published: 05 December 2018

BUSINESS NEWS

Zimbabwe already on path to currency reforms

Asset management and financial services firm, Zimnat, says pre-mature devaluation of real time gross settlement (RTGS) dollars could cause irreparable damage to confidence, national savings, financial...

By The Sunday Mail | Published: 03 December 2018

BUSINESS NEWS

Zimbabwe currency volatility not good for recovery plan

THE 2019 National Budget presented by Finance minister Mthuli Ncube, though commendable for putting in place fiscal austerity and fiscal consolidation measures to contain the widening fiscal deficit, ...

By Staff reporter | Published: 30 November 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

MINING & RETAIL

PPC hit hard by foreign currency crisis

PPC Zimbabwe Ltd is stuck with R896 million (US$64,2 million) due to its parent company after the local company failed to remit rights issue proceeds and other amounts due to the Johannesburg Stock Ex...

By Staff reporter | Published: 30 November 2018

POLITICS

Foreign currency shortage triggers Zimbabwe passports backlog

REGISTRAR-GENERAL (RG) Clemence Masango yesterday said his department had a backlog of 170 000 passports, which has accumulated since May, and requires additional foreign currency to speed up the proc...

By Staff reporter | Published: 28 November 2018

OPINION

Currency reform answer to economic woes

THE success of the new Government's effort to transform the country's economy, both in the immediate and future term hinges on addressing the currency reform problem. The vision of the Government is t...

By Bongani Ngwenya | Published: 21 September 2018

TRANSPORT & TOURISM

Govt urged to address currency issues to attract more tourists

SOME international buyers and safari tour operators who went on a familiarisation tour of the country's major resorts post Sanganai/Hlanganani World Travel Expo have urged the government to address cu...

By Staff reporter | Published: 13 September 2018

INDUSTRIALS & ENERGY

Govt blames fuel crisis on foreign currency shortages

ENERGY minister Simon Khaya Moyo yesterday blamed the crippling fuel shortages being faced by the nation on late foreign currency allocation and ethanol shortage.Khaya Moyo told journalists in Bulaway...

By Staff reporter | Published: 27 July 2018

BUSINESS NEWS

Net foreign currency inflows surge

ZIMBABWE'S net foreign currency inflows surged over 1 700 percent to $192,4 million in the first quarter, buoyed by tobacco earnings, latest central bank data indicates.As Society for Worldwide InterB...

By Staff reporter | Published: 23 July 2018

BUSINESS NEWS

Zimbabwe dismisses new currency claims

The Reserve Bank of Zimbabwe (RBZ) has dismissed social media claims that the apex bank will introduce a new currency.In a statement, RBZ Governor, Dr John Mangudya said the claims are fake, adding th...

By Staff reporter | Published: 18 July 2018

BUSINESS NEWS

Currency reforms to address shortages

Zimbabwe's currency reforms will include measures to bring harmony between money in banks or Rapid Transfer Gross Settlement (RTGS) balances and foreign currency resources on the market, Reserve Bank ...

By Staff reporter | Published: 01 July 2018

POLITICS

Foreign currency crisis adds to Harare's refuse woes

HARARE mayor Bernard Manyenyeni yesterday said foreign currency shortages had hampered the local authority's plans to buy additional refuse collection trucks.Manyenyeni told NewsDay that they had so f...

By Staff reporter | Published: 26 June 2018

BUSINESS NEWS

Expert calls for commodity-backed currency

ZIMBABWE should re-introduce its own currency backed by commodities since bond notes and dollarisation has failed, financial expert Persistence Gwanyanya has said. Speaking during the CEO Africa Round...

By Staff reporter | Published: 19 June 2018

FINANCIAL SERVICES

RBZ digs in on cryptocurrency ban

Reserve Bank of Zimbabwe (RBZ) governor John Mangudya has defended the central bank's decision to ban cryptocurrency transactions and accused a local dealer of exposing the country, money-laundering, ...

By Staff reporter | Published: 10 June 2018

FINANCIAL SERVICES

Golix stop clients from trading cryptocurrency

Golix has advised their clients not to deposit any money into their accounts as the cryptocurrency exchange battles for survival following an onslaught on virtual currencies by the Reserve Bank of Zim...

By Staff reporter | Published: 30 May 2018
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