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

BUSINESS NEWS

CZI tells government stop RBZ overdrafts

THE Confederation of Zimbabwe Industries (CZI) says government should stop making overdrafts from the central bank as this fuels inflation and aggravates the country's fiscal deficits.After an extende...

By Staff reporter | Published: 19 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

ZIMBABWE

RBZ increases cash injections to $150m

RESERVE Bank of Zimbabwe governor John Mangudya says the central bank has increased the foreign currency injections into the economy by 50% to $150 million a month to ease forex shortages.This came am...

By Staff reporter | Published: 16 July 2018

BUSINESS NEWS

'Bond notes are here to stay'

RESERVE Bank of Zimbabwe governor John Mangudya says the country's surrogate currency, the bond note, will be around for the foreseeable future.Zimbabwe introduced bond notes in 2016 to ease an acute ...

By Staff reporter | Published: 12 July 2018

BUSINESS NEWS

'RBZ has failed in forex allocation'

ZIMBABWE Textile Manufacturers' Association (Zitma) says local banks should handle the foreign currency allocation system as the central bank has failed to allocate forex to the industry and was now f...

By Staff reporter | Published: 10 July 2018

BUSINESS NEWS

RBZ turns screws on banks

THE Reserve Bank of Zimbabwe (RBZ) has castigated banks for keeping huge sums of money with the central bank instead of lending it to the productive sector.Responding to questions from delegates atten...

By Staff reporter | Published: 09 July 2018

BUSINESS NEWS

RBZ doubles cash imports to $100m

The Reserve Bank of Zimbabwe (RBZ) has doubled cash imports to $100 million per month as the central bank tries to ameliorate the prevailing cash shortages as well as meet rising demand from recoverin...

By Staff reporter | Published: 08 July 2018

BUSINESS NEWS

Ballooning RTGS indicate lack of lending

THE Reserve Bank of Zimbabwe says the ballooning Real Time Gross Settlement (RTGS) account balances are an indicator of lack of lending by mainstream banks to the productive sectors. Treasury has admi...

By Staff reporter | Published: 06 July 2018

BUSINESS NEWS

RBZ embraces blockchain tech

THE Reserve Bank of Zimbabwe (RBZ) has put into motion studies to investigate blockchain technology as it is a new developing global innovation.RBZ governor John Mangudya told guests attending Alpha M...

By Staff reporter | Published: 05 July 2018

BUSINESS NEWS

RBZ secures $1,3bn offshore loans for industry

THE Reserve Bank of Zimbabwe (RBZ) has managed to secure $1,3 billion offshore loans through the African Export-Import Bank (Afreximbank) and Trafigura to support production and promote exports, an of...

By Staff reporter | Published: 05 July 2018

BUSINESS NEWS

RBZ to bring more forex

RESERVE Bank of Zimbabwe (RBZ) Governor Dr John Mangudya says they will continue to source foreign currency to support the multi-currency regime, which is expected to remain in force for the foreseeab...

By Staff reporter | Published: 05 July 2018

BUSINESS NEWS

RBZ dismisses Zimdollar return rumours

The Reserve Bank of Zimbabwe (RBZ) has advised members of the public to ignore and dismiss the social media article on the re-introduction of the local currency with the contempt it deserves.In a stat...

By Staff reporter | Published: 03 July 2018

BUSINESS NEWS

RBZ stops issuing $ to banks

THE Reserve Bank of Zimbabwe has temporarily stopped giving US dollars to banks for withdrawal by individuals, as the latter are said to be at the centre of black market currency dealings.The central ...

By Staff reporter | Published: 01 July 2018

BUSINESS NEWS

Externalisation amnesty instills market discipline

The amnesty granted to companies and individuals who illegally kept money abroad has resulted in high levels of compliance, two senior government officials have said. In November last year, the govern...

By Staff reporter | Published: 29 June 2018

BUSINESS NEWS

RBZ bond wipes $1bn from market

The Reserve Bank of Zimbabwe (RBZ) says it has raised over $1 billion through the issuance of savings bonds to mop up excess liquidity from the market and fund Government expenditure. Last September, ...

By Staff reporter | Published: 29 June 2018

OPINION

Is multi-tier pricing the problem or symptom?

As Zimbabwe's central bank tries to calm the problem it caused in the market through the introduction of bond notes in November 2016, questions have been raised on whether the multi-tier pricing syste...

By Victor Bhoroma | Published: 26 June 2018

BUSINESS NEWS

RBZ release $20 million for wheat imports

THE Reserve Bank of Zimbabwe yesterday released the $20 million requested by millers to import part of the 200 000 metric tonnes of wheat from Canada and Germany to avert a bread shortage.The 200 000 ...

By Staff reporter | Published: 20 June 2018

BUSINESS NEWS

RBZ must 'delegate forex allocation to banks'

THE Reserve Bank of Zimbabwe should abandon its foreign currency allocation framework and delegate the role to individual banks as this gives the impression of a distorted economy, the Zimbabwe Nation...

By Staff reporter | Published: 19 June 2018
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