INDUSTRIALS & ENERGY

Zesa throws RBZ under the bus

ZIMBABWE'S power utility, Zesa Holdings says the Reserve Bank of Zimbabwe (RBZ) has not provided with foreign currency to import power since last October.This comes as the southern African country is ...

By Staff reporter | Published: 10 July 2019

FINANCIAL SERVICES

US$645m traded on interbank market

About US$645 million has been traded on the interbank market since the platform was established in February this year, Reserve Bank of Zimbabwe (RBZ) governor Dr John Mangudya has said. "As at the end...

By Staff reporter | Published: 09 July 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

BUSINESS NEWS

RBZ seeks international recognition for Zimdollar

The Reserve Bank of Zimbabwe (RBZ) says it has written to international exchanges requesting them to officially recognise the Zimbabwe dollar as a tradeable currency.The reintroduction of the local cu...

By Staff reporter | Published: 04 July 2019

BUSINESS NEWS

Black market loses grip

Some illegal foreign currency dealers have been pushed out of "business" as Statutory Instrument (SI) 142 of 2019 effects continue to hold fort on the foreign exchange market, forcing rates to tumble....

By Staff reporter | Published: 03 July 2019

BUSINESS NEWS

RBZ takes aim at forex speculators

Government says the sharp hike of the overnight bank rate by the Reserve Bank of Zimbabwe to support the domestic currency will discourage borrowing for currency speculation as well as protect the val...

By Staff reporter | Published: 03 July 2019

FINANCIAL SERVICES

Interbank rate overtakes black market

THE interbank exchange rate has surpassed parallel market rates with some banks offering more in local currency for those exchanging their foreign currency. Government last week outlawed the use of mu...

By Staff reporter | Published: 03 July 2019

BUSINESS NEWS

RBZ hikes interest rate to 50%

THE Reserve Bank of Zimbabwe (RBZ) has increased the interest rate on its overnight window to 50 percent per annum from 15 percent in a bid to tame inflationary pressures alongside other measures mean...

By Staff reporter | Published: 26 June 2019

BUSINESS NEWS

RBZ scraps US$10 000 daily trading limit for bureaux de change

THE Reserve Bank of Zimbabwe (RBZ) has scrapped the US$10 000 daily trading limit for bureaux de change and the 2,5 percent maximum profit margin for banks, in a bid to make the interbank forex market...

By Staff reporter | Published: 26 June 2019

BUSINESS NEWS

RBZ rejects gold miners' demand

ZIMBABWE is not in a position to liberalise domestic gold marketing and buying as this will negatively affect the flow of foreign currency into the economy, Reserve Bank of Zimbabwe (RBZ) deputy gover...

By Staff reporter | Published: 11 June 2019

OPINION

RBZ sabotaging Zimbabwe economic recovery

WHEN Mthuli Ncube was appointed Finance and Economic Development minister, he quickly took charge at the ministry, appointing a new permanent secretary and several directors and publishing a Transitio...

By Eddie Cross | Published: 29 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

Delta's AB InBev places $120m unremitted dividends, fees into RBZ saving

The world's largest brewer Anheuser-Busch InBev (AB InBev) has agreed to place the over $120 million owed to it in unremitted dividends and fees by Delta Corporation into the Reserve Bank of Zimbabwe ...

By Staff reporter | Published: 11 January 2019

TRANSPORT & TOURISM

RBZ releases $2,5m for wheat imports

Government has moved in to secure 30 000 metric tonnes of wheat worth $12,2 million with a 20 percent down payment following threats by an international supplier to cut off the deal citing Harare's de...

By Staff reporter | Published: 06 January 2019

BUSINESS NEWS

Four RBZ executives absolved of wrongdoing

The Reserve Bank of Zimbabwe (RBZ) yesterday cleared four senior executives of any wrongdoing following their suspension on allegations of corruption and illegal foreign currency dealings.Their precau...

By Staff reporter | Published: 16 December 2018

BUSINESS NEWS

RBZ director arrested for abuse of office

Suspended Reserve Bank of Zimbabwe (RBZ) director for Financial Intelligence Unit, Mirirai Chiremba, yesterday appeared in court for criminal abuse of duty for allegedly raising the withdrawal limit o...

By Staff reporter | Published: 07 December 2018

BUSINESS NEWS

Anchor wage talks on 10% inflation: RBZ

The Reserve Bank of Zimbabwe (RBZ) says employers and labour unions should anchor any wage negotiations for next year on the projected 10 percent year-on-year inflation. This emerged during the 6th an...

By Staff reporter | Published: 27 November 2018

MINING & RETAIL

RioZim sues RBZ over US$ payments

Resources group, RioZim, has sued the central bank to force it to pay over $92 million it claims is owed dating back to 2016 in a case that highlights the acute dollar shortages blighting the southern...

By Staff reporter | Published: 22 November 2018

BUSINESS NEWS

RBZ allays basics shortage fears

The supply of basic goods is expected to increase towards the festive season, spurred by Government intervention through the indefinite suspension of Statutory Instrument (SI) 122 of 2017, and the pro...

By Staff reporter | Published: 20 November 2018

BUSINESS NEWS

Mnangagwa to monitor companies allocated forex by RBZ

GOVERNMENT has proposed the establishment of a Foreign Currency Utilisation Monitoring Mechanism to monitor companies that receive foreign currency from the central bank.Addressing a Press briefing af...

By Staff reporter | Published: 15 November 2018

POLITICS

Anxiety as Mnangagwa 'visits' RBZ

PRESIDENT Emmerson Mnangagwa made two surprise visits to the Reserve Bank of Zimbabwe on Tuesday, which generated a lot of anxiety among staff and the public after he spent a combined four hours at th...

By Staff reporter | Published: 21 September 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

BUSINESS NEWS

'RBZ should complement new finmin'

Analysts yesterday called on Reserve Bank of Zimbabwe governor John Mangudya and his team to work in tandem with new Finance and Economic Development minister Mthuli Ncube efforts to help arrest econo...

By Staff reporter | Published: 12 September 2018

BUSINESS NEWS

RBZ pumps $45m into banks

ZIMBABWE'S Reserve Bank has pumped nearly $45 million into the banking system to ease cash shortages and fight off parallel market rates.John Mangudya's institution injected $20 million and another $2...

By Staff reporter | Published: 23 July 2018

BUSINESS NEWS

RBZ bemoans social media abuse

Reserve Bank of Zimbabwe (RBZ) governor John Mangudya has bemoaned the abuse of social media by other members of the society, saying the practice had cost the nation socially, financially and economic...

By Staff reporter | Published: 23 July 2018
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