Zimbabwe shuts down main source of hard currency

Zimbabwe has suspended the transfer of local shares in dual-listed companies to foreign bourses, one of the main ways citizens and businesses have been able to obtain dollars as inflation wipes out th...

By Reuters | Published: 17 March 2020


AMG boss proposes gold-backed Zimbabwe currency to RBZ

A leading South Africa precious metals dealer African Medallion Group (AMG) has proposed to the Reserve Bank of Zimbabwe (RBZ) the launch of a digital currency backed by physical gold, with an aim to ...

By Staff reporter | Published: 07 November 2019


Foreign currency shortages derail Paramount Garments

LEADING textile firm, Paramount Garments' exports have dropped by 14 percent while prospects of growing its Bulawayo clothing manufacturing unit, Archer Clothing Manufacturers are in limbo due to adve...

By Staff reporter | Published: 06 October 2019


Mnangagwa goes after currency manipulators

Zimbabwe's currency has taken relentless buffeting from surreptitious activities of only a few cash barons who are carelessly manipulating exchange rates on the foreign currency market with impunity, ...

By Staff reporter | Published: 05 October 2019


ABC feels heat of currency volatility

FINANCIAL Services giant ABC Holdings Limited has conceded that currency reforms are yet to yield results as the country continues to witness heavy devaluation of the local currency and hyperinflation...

By Staff reporter | Published: 01 October 2019


Zimbabwe currency stability faces headwinds

The battle for new currency stability faces severe headwinds, and the signs are not good. It was always going to be an uphill task, even under the best of conditions to re-introduce a currency that wa...

By Joseph Mverecha | Published: 23 September 2019


Masiyiwa 'former' lawyer's multi-currency regime challenge ruled not urgent

High Court judge Justice Joseph Musakwa has ruled as not urgent an application by businessman and lawyer, Tawanda Nyambirai who was seeking an order to interdict Finance minister Mthuli Ncube and Rese...

By Staff reporter | Published: 11 July 2019


Currency reforms expected to stabilise fuel sector

THE re-introduction of the Zimbabwean dollar is expected to bring stability to the fuel sector as Government tightens fiscal and monetary policies to ease pressure on foreign currency demand, National...

By Staff reporter | Published: 09 July 2019


'Multi-currency ban averted catastrophe'

ZIMBABWE'S shock move to abolish the multi-currency system last week helped the country avoid a potential "catastrophe", businessman Shingi Munyeza has said. The southern African country last week gaz...

By Staff reporter | Published: 05 July 2019


Khupe speaks on currency

Leader of the smaller MDC Thokozani Khupe has said the new monetary policy highlighted by the ending of a 10-year multi-currency system, does not demonstrate a long term plan with a defined path to so...

By Staff reporter | Published: 02 July 2019


Fastjet's hope for profit pinned on Zimbabwe currency

Low-cost African airline Fastjet Plc expects to be profitable on an underlying basis in 2019, Chief Executive Officer Nico Bezuidenhout said on Thursday, a year after a cash crunch nearly drove the ca...

By Staff reporter | Published: 02 July 2019


Mthuli Ncube's quotes on currency reforms . . .

"Replacing the multi-currency regime anchored in the United States dollar by the South African rand as the sole transaction currency would help reduce over-valuation and stimulate exports and growth. ...

By Lisa Tazviinga | Published: 01 July 2019


Cabinet approves currency reforms

Cabinet has approved currency reforms introduced by Treasury which culminated in the scrapping of the multi-currency system on local transactions saying the move would now bring normalcy in the econom...

By Staff reporter | Published: 27 June 2019


Scrapping of multi-currency regime: The implications

ON Monday, the government announced major changes in the monetary policy of Zimbabwe, highlighted by the ending of a 10-year multi-currency system.Further measures announced include the intended steri...

By Respect Gwenzi | Published: 26 June 2019


ZSE capitalisation surges 4,6% on multi-currency ban

The Zimbabwe Stock Exchange's capitalisation on Monday increased by 4,6% to ZWL$30,86 billion as the market reacted to government's decision to outlaw a multi-currency system adopted a decade ago.The ...

By Staff reporter | Published: 26 June 2019


Zimbabwe's endless currency circus and cycle

When it comes to currency management in Zimbabwe there is always déjà vu which is a result of repeated fallible prescriptions. It's a circus where the actors enjoy their never-ending play with the a...

By Ngonidzaishe Makaha and Adrian Mapiye | Published: 14 June 2019


Mnangagwa's govt re-ignites currency debate

PRESIDENT Emmerson Mnangagwa's remarks over the weekend that Zimbabwe would have a fully-fledged local currency before the end of the year, ending the multi-currency regime enacted in 2009, effectivel...

By Brett Chulu | Published: 14 June 2019


New currency unlikely to perform miracles for Zimbabwe

GOVERNMENT'S plans to unveil a new currency by year-end without addressing macro-economic fundamentals could be catastrophic, while the proposed local unit risks suffering the same fate as the defunct...

By Staff reporter | Published: 14 June 2019


Re-igniting debate on a sovereign currency

Whilst a single sovereign currency regime might be the way to go, own currency may not deliver desired results if we do not address what is currently weighing down our pseudo-currency (RTGS$) - the st...

By Persistence Gwanyanya | Published: 14 June 2019


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


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


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


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


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


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

Latest News

Latest Published Reports

Latest jobs