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

BUSINESS NEWS

'Adopting Chinese currency makes sense,' says RBZ

The adoption of renmimbi/yuan as a reserve currency, will help the country repay loans and grants from China, the Reserve Bank of Zimbabwe has said.Zimbabwe and China have strong bilateral relations, ...

By Staff reporter | Published: 30 May 2018

BUSINESS NEWS

'Adopting Chinese currency makes sense,' says RBZ

The adoption of renmimbi/yuan as a reserve currency, will help the country repay loans and grants from China, the Reserve Bank of Zimbabwe has said.Zimbabwe and China have strong bilateral relations, ...

By Staff reporter | Published: 30 May 2018

INDUSTRIALS & ENERGY

Foreign currency scarcity 'smokes' out BAT

BRITISH American Tobacco (BAT) managing director, Clara Mlambo says the company is struggling to get foreign currency and has described 2018's first quarter as "drier" than other first year quarters.I...

By Staff reporter | Published: 21 May 2018

OPINION

'Zimbabwe needs own currency'

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...

By Staff reporter | Published: 20 May 2018

BUSINESS NEWS

Mnangagwa says Zimbabwe needs own currency

PRESIDENT Emmerson Mnangagwa is not happy with citizens sleeping in queues for cash at bank fronts.Mnangagwa told a women's discussion in Harare Friday that his administration is working hard to addre...

By Staff reporter | Published: 19 May 2018

OPINION

Govt jumped the gun on cryptocurrency ban

Only a few days ago Minister of Finance and Economic Development Patrick Chinamasa announced that Zimbabwe's economy was now 96 percent cashless and a few days later the Reserve Bank of Zimbabwe annou...

By Eng Jacob Mutisi | Published: 15 May 2018

FINANCIAL SERVICES

Zim banks banned from trading in crypto currency

The Reserve Bank of Zimbabwe has, in the interest of public trust in the financial system, banned local banks from trading in crypto currency.The central bank issued local banks with a 60 days ultimat...

By Staff reporter | Published: 12 May 2018

BUSINESS NEWS

Airlines getting foreign currency

The Reserve Bank of Zimbabwe (RBZ) is fulfilling its obligation to release money to airlines for remittances repatriation, but acute foreign currency shortages continue to slow the progress in clearin...

By Staff reporter | Published: 02 May 2018

BUSINESS NEWS

'Reward foreign currency earners'

GOVERNMENT says it is important to reward those who earn the country foreign currency by also paying them in foreign currency to ensure that they can continue to enhance production and improve their l...

By Staff reporter | Published: 20 April 2018
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