BUSINESS NEWS

High money supply keeps inflation up

The spectre of sustained high inflation remains a real threat after Zimbabwe's annual broad money grew 81 percent to $17 billion in the 12 months to July 2019 driven by growth in foreign currency acco...

By Staff reporter | Published: 18 October 2019

FINANCIAL SERVICES

Money Supply (M3) rises to $17.1 billion in July 2019

The Reserve Bank of Zimbabwe released its monthly economic review documents for July 2019. The publication gives a general overview of a wide range economic statistics. The monetary statistics are a k...

By Staff reporter | Published: 18 October 2019

TELECOMS & TECHNOLOGY

Nkosinathi Ncube's good job - OneMoney grows 97%

NETONE'S mobile money transfer service, OneMoney has grown by 97 percent in the three months ending September 30, 2019, driven by unique offerings including OnePay, a bulk payment facility, an officia...

By Staff reporter | Published: 10 October 2019

TELECOMS & TECHNOLOGY

Mobile money transactions surge 108%

POSTAL and Telecommunications Regulatory Authority of Zimbabwe (Potraz) says mobile operators experienced an increase in volume and value of mobile money transactions with cash-in transactions surging...

By Staff reporter | Published: 07 October 2019

BUSINESS NEWS

Zimbabwe Reserve Bank bans mobile money agencies

In what analysts have described as a major blow to the advent of mobile money and financial inclusion, the Zimbabwean central bank has banned mobile money agencies from facilitating cash withdrawals o...

By Staff reporter | Published: 30 September 2019

BUSINESS NEWS

SECZIM develops handbook on Anti-Money Laundering

In a bid to assist Securities Market Intermediaries (SMIs) in understanding their obligations in the fight against money laundering and terrorist financing in the securities sector, the Security and E...

By Staff reporter | Published: 23 September 2019

BUSINESS NEWS

Money supply growth accelerates in June

The Reserve Bank of Zimbabwe (RBZ) released its monthly economic review for June detailing monetary statistics for the 2019 half year. The report comes in the build up to Governor Dr. John Mangudya's ...

By Staff reporter | Published: 23 September 2019

BUSINESS NEWS

Money supply up by ZWL$3 million

THE Reserve Bank of Zimbabwe (RBZ) says the country has recorded an annual increase of money supply by almost ZWL$3 million while both exports and imports decreased by over 15%.This is contained in th...

By Staff reporter | Published: 04 July 2019

INDUSTRIALS & ENERGY

Eskom confirms Zimbabwe paid back the money

Eskom has confirmed that payment from Zimbabwe regarding outstanding debt is reflecting in the power utility's account. Earlier on Tuesday, Fin24 reported that Zimbabwe Energy minister Fortune Chasi p...

By Staff reporter | Published: 02 July 2019

OPINION

Zimbabwe MFIs seek exemption from 2% money transfer tax

Microfinance institutions (MFI) play a key role in providing financial services to the unbanked population of Zimbabwe. Zimbabwe has a fairly vibrant MFI sector and Parliament is currently tasked with...

By Staff reporter | Published: 28 April 2019

FINANCIAL SERVICES

WorldRemit launches money transfer service from SA to Zimbabwe

Leading digital money transfer service WorldRemit has launched low-cost online money transfers from South Africa to Zimbabwe.Using the WorldRemit app or website, Zimbabweans living in South Africa can...

By Staff reporter | Published: 31 January 2019

BUSINESS NEWS

Money changer loses US$4 000 to armed robbers

AN illegal money changer from Emganwini suburb in Bulawayo lost more than US$4 000 to seven gun-totting robbers who raided his home while he was sleeping early yesterday morning. The suspects, who wer...

By Staff reporter | Published: 19 January 2019

BUSINESS NEWS

Electronic transactions usage in remote areas surges

THE use of mobile and Internet-based transactions in remote areas has been on an upward trajectory with the generality of the country's populace embracing modern modes of payment.A snap survey in most...

By Staff reporter | Published: 30 December 2018

POLITICS

Flush out money changers, says Zanu-PF

ZANU-PF members in Bulawayo have raised concern over the continued existence of illegal foreign currency dealers they claim are now operating in secret to evade arrest, and called for the re-introduct...

By Staff reporter | Published: 06 December 2018

BUSINESS NEWS

3 money changers appear in court

THREE suspected money changers, all women, appeared in court yesterday for allegedly violating the country's Exchange Control regulations. Thelma Moyo, Chipo Muteswa and Rebecca Kurekwechuma appeared ...

By Staff reporter | Published: 15 November 2018

BUSINESS NEWS

Money changers desert Bulawayo streets

ILLEGAL money changers in Bulawayo have devised new tricks to evade arrest following President Emmerson Mnangagwa's promulgation of new regulations that may see offenders being jailed for up to 10 yea...

By Staff reporter | Published: 15 November 2018

BUSINESS NEWS

RBZ creating artificial money to fund gold exports

THE Reserve Bank of Zimbabwe (RBZ) plans to flood the banking system with more transferable balances created through real time gross settlement (RTGS) intended to support gold exporters in a desperate...

By Staff reporter | Published: 13 September 2018

FINANCIAL SERVICES

First Money Microfinance launches Debit Card

First Money Microfinance Services (FMFS), a fintech with seven branches nationwide, has launched a debit card in partnership with StewardBank.The innovation called iSave debit card allows customers of...

By Staff reporter | Published: 11 September 2018

TELECOMS & TECHNOLOGY

OneMoney spurs NetOne active subscriber base

MOBILE telecommunications firm, NetOne, says its mobile financial service - OneMoney - increased its active subscribers by more than 49% in the first quarter of the year, due to the increase in the us...

By Staff reporter | Published: 24 July 2018

OPINION

Why digital money makes sense

William Arthur Ward was an American who contributed a lot to the Reader's Digest. His main genres were inspirational maxims and meditations and poems. One of the things he said was: "A pessimist compl...

By Nick Mangwana | Published: 19 June 2018

BUSINESS NEWS

Mnangagwa calls for increased use of plastic money

President Emmerson Mnangagwa yesterday acknowledged the worsening cash crisis and encouraged increased use of plastic money.Addressing mourners during the burial of the late national hero John Chimban...

By Staff reporter | Published: 11 June 2018

BUSINESS NEWS

Govt headache over moneychangers

Finance minister Patrick Chinamasa has blamed the police for failing to arrest unlicensed foreign currency traders saying there was a legal framework in place to curb the vice.This comes as the countr...

By Staff reporter | Published: 07 June 2018

TELECOMS & TECHNOLOGY

OneMoney reaches 1million subscribers

THE country's second largest mobile network service provider by subscriber base, NetOne, says up to one million subscribers are now transacting through its OneMoney mobile money platform.Chief executi...

By Staff reporter | Published: 07 June 2018

BUSINESS NEWS

Money Laundering Bill sails through

THE Money Laundering and Proceeds of Crime Bill yesterday sailed through the National Assembly, with MPs suggesting that the legislation should deal with illegal foreign currency dealers.The Bill was ...

By Staff reporter | Published: 06 June 2018

POLITICS

Khupe to sue Chamisa over campaign money

MDC-T breakaway faction leader, Thokozani Khupe, has threatened to approach the courts on an urgent basis seeking to bar her rival Nelson Chamisa from using the money he recently received under the Po...

By Staff reporter | Published: 01 June 2018
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