BUSINESS NEWS

Storm brews over nostro accounts

THE Reserve Bank of Zimbabwe (RBZ)'s decision to tighten regulations on withdrawals of foreign currency by Zimbabweans who earn their salaries in foreign currency faces litigation, while analysts war...

By Staff reporter | Published: 07 October 2019
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BUSINESS NEWS

'Zimbabwe nostro premiums drop'

ZIMBABWE'S nostro premiums have dropped from average 60 percent to about 25 percent as a result of improved exports, Diaspora remittances and foreign direct investment, an official has said.Speaking a...

By Staff reporter | Published: 22 March 2018
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BUSINESS NEWS

Nostro facilities sustain critical imports

THE intervention by the Reserve Bank of Zimbabwe (RBZ) in the foreign exchange market through $1.1 billion nostro stabilisation facilities drawdowns last year have significantly assisted in sustainin...

By Staff reporter | Published: 08 February 2018
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BUSINESS NEWS

RBZ draws $450m from nostro facility

The Reserve Bank of Zimbabwe (RBZ) has drawn down $450 million out of the latest $600 million nostro stabilisation facility secured from the Afreximbank last year, Reserve Bank of Zimbabwe governor Dr...

By Staff reporter | Published: 29 January 2018
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BUSINESS NEWS

'Zim's nostro facility to run for 8 months'

RESERVE Bank of Zimbabwe (RBZ) governor John Mangudya yesterday said the US$600 million nostro stabilisation facility from the African Export Import Bank (Afreximbank) will help alleviate foreign curr...

By Staff reporter | Published: 05 October 2017
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BUSINESS NEWS

Panicky RBZ withdraws $25m in nostro

THE Reserve Bank of Zimbabwe (RBZ) revealed that the recent fuel and cooking oil shortages forced it to draw down $25 million from the $600 million nostro stabilisation facility on Monday, after the c...

By Staff reporter | Published: 28 September 2017
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BUSINESS NEWS

Companies begin to draw down $600m nostro stabilisation facility

COMPANIES will this week start drawing down the $600 million nostro stabilisation facility that the Reserve Bank of Zimbabwe (RBZ) successfully negotiated from the African Export Import Bank.In the 20...

By Staff reporter | Published: 11 September 2017
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BUSINESS NEWS

$45m Nostro account backlog hampers bakers

THE National Bakers' Association of Zimbabwe (NBAZ) has appealed to the Reserve Bank to clear over $45 million in Nostro account balances to ensure the bakers import raw materials on time.Since last y...

By Staff reporter | Published: 21 August 2017
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BUSINESS NEWS

RBZ secures $600 million nostro facility

The Reserve Bank of Zimbabwe has negotiated for an enhanced nostro stabilisation facility of $600m from Afreximbank to manage the cyclical nature of Zimbabwe's foreign exchange receipts.Economic exper...

By Staff reporter | Published: 09 August 2017
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BUSINESS NEWS

$600m nostro facility secured

THE Government has secured a $600 million nostro-stabilisation facility from AfreximBank to boost the country's foreign exchange receipts and enhance efficient procurement of key inputs for the produc...

By Staff reporter | Published: 03 August 2017
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