BUSINESS NEWS

RBZ doubles forex allocation for fuel

The Reserve Bank of Zimbabwe (RBZ) has doubled weekly foreign currency allocation on fuel imports to US$20 million in a bid to address the supply gap following a 20 percent rise in demand for the comm...

By Staff reporter | Published: 24 May 2018

BUSINESS NEWS

RBZ deal boosts Ariston

AN export incentive scheme unveiled by the central bank two years ago spurred growth of exports at listed agro-industrial firm Ariston Holdings Limited, which yesterday reported a 53 percent rise in r...

By Staff reporter | Published: 24 May 2018

BUSINESS NEWS

Golix files lawsuit against RBZ

On May 13 2018, the Reserve Bank Of Zimbabwe (RBZ) issued guidelines in a circular that detailed cryptocurrency activities taking place within the country are now banned. The RBZ further stated that d...

By Staff reporter | Published: 23 May 2018

BUSINESS NEWS

RBZ warned on US$ imports

THE government should consider putting more money into the productive sectors of the economy instead of importing cash.Reserve Bank of Zimbabwe (RBZ) governor John Mangudya revealed recently that the ...

By Staff reporter | Published: 20 May 2018

BUSINESS NEWS

Export firms access loans worth $100m

Zimbabwe export-earning sectors have so far accessed loans worth at least US$100 million from a central bank facility aimed at reviving productive sectors of the economy.The uptake of a Reserve Bank o...

By Staff reporter | Published: 16 May 2018

BUSINESS NEWS

RBZ enhances measures for external capital flows

The Reserve Bank of Zimbabwe (RBZ) is working on strengthening its legal, institutional and regulatory frameworks to effectively ring-fence foreign investments to enable investors to repatriate funds ...

By Staff reporter | Published: 15 May 2018

FINANCIAL SERVICES

RBZ ban hits Golix

Harare digital money exchange Golix.com has suspended plans to raise $35,8 million through an Initial Coin Offering (ICO) until further notice, after the Reserve Bank of Zimbabwe (RBZ) effectively shu...

By Staff reporter | Published: 15 May 2018

OPINION

'RBZ must regulate not ban cryptocurrencies'

Zimbabwe Information and Communication Technology Division (ZICT) and other IT experts have called on the Reserve Bank of Zimbabwe to regulate cryptocurrencies rather than banning them outright.A cryp...

By Staff reporter | Published: 14 May 2018

BUSINESS NEWS

RBZ optimistic on price stabilisation

The Reserve Bank of Zimbabwe (RBZ) is optimistic that basic commodities' prices will remain stable due to continuous allocation of foreign currency towards procurement of critical raw materials.Since ...

By Staff reporter | Published: 13 May 2018

OPINION

Cash shortages: RBZ lays out game plan

When we are taking about cash shortages, it is important that we deal with the issue by first looking at economic fundamentals.There are basically two major economic fundamentals that are causing the ...

By Dr John Mangudya | Published: 13 May 2018

BUSINESS NEWS

RBZ gets $400m to ease cash crunch

CASH shortages will ease in coming weeks after the Reserve Bank of Zimbabwe imported $400 million, while tobacco and gold export earnings are expected to boost liquidity.A shift towards plastic money,...

By Staff reporter | Published: 13 May 2018

BUSINESS NEWS

RBZ bans bitcoin trading

THE Reserve Bank of Zimbabwe (RBZ) has ordered all financial institutions in the country to immediately stop trading or transacting in cryptocurrencies.RBZ registrar of banking institutions, Norman Ma...

By Staff reporter | Published: 12 May 2018

BUSINESS NEWS

'RBZ not funding black market'

Finance and Economic Development Minister Patrick Chinamasa has dismissed speculation that the Reserve Bank of Zimbabwe (RBZ) was funding the black market through selling foreign currency.Minister Chi...

By Staff reporter | Published: 11 May 2018

BUSINESS NEWS

Zim economy on the rebound

Reserve Bank of Zimbabwe governor John Mangudya, says the Zimbabwe economy has started registering growth on the back of improved industrial productivity, but the expansion was exerting pressure on th...

By Staff reporter | Published: 11 May 2018

BUSINESS NEWS

Bread price increase above board: RBZ

THE Reserve Bank of Zimbabwe (RBZ) says the increase in the price of bread to $1 from 90 cents was arrived at following wide consultations across all sectors and realisation that cost pressures had in...

By Staff reporter | Published: 09 May 2018

FINANCIAL SERVICES

Banks urged to offer affordable financial services

BANKS have been urged to capitalise on technological developments, share information and offer affordable financial services to consumers to promote financial inclusion.The call was made by Reserve Ba...

By Staff reporter | Published: 08 May 2018

BUSINESS NEWS

RBZ releases $450k daily for tobacco farmers

The Reserve Bank of Zimbabwe (RBZ) says it is disbursing $450 000 daily to banks with branches at tobacco auction floors to ensure farmers access cash.This comes following an outcry from farmers who a...

By Staff reporter | Published: 08 May 2018

BUSINESS NEWS

Money changers face prosecution

GOVERNMENT, through the Judicial Services Commission, is finalising administrative mechanisms for establishment of the Commercial Court, which will prosecute offenders for commercial crimes, among the...

By Staff reporter | Published: 08 May 2018

BUSINESS NEWS

ZimTrade urges firms to utilise RBZ facilities

ZIMBABWE'S export promotion body, ZimTrade has urged local companies to utilise the Reserve Bank of Zimbabwe (RBZ) export finance facilities to increase their production and exports.RBZ has provided a...

By Staff reporter | Published: 07 May 2018

BUSINESS NEWS

Iron and steel makers seek $20 million

THE iron and steel sector is negotiating with the Reserve Bank of Zimbabwe (RBZ) for a $20 million facility to source raw materials and new equipment.This comes as the sector is undercapitalised and a...

By Staff reporter | Published: 06 May 2018

BUSINESS NEWS

Money changers derailing regional financial integration

Reserve Bank of Zimbabwe deputy governor Jesimen Chipika has accused illegal money changers of derailing regional financial integration efforts and promoting money laundering.Chipika made the remarks ...

By Staff reporter | Published: 25 April 2018

BUSINESS NEWS

RTGS payments decline

Transactions that passed through the Real Time Gross Settlement (RTGS) systems in the week to March 29, 2018 were down 14 percent to close the week at $1,5 billion from $1,7 million, official data sho...

By Staff reporter | Published: 24 April 2018

FINANCIAL SERVICES

Banks on course to meet RBZ threshold

A MAJORITY of listed banks are on track to achieving the prescribed Reserve Bank of Zimbabwe (RBZ) minimum capital requirement of $100 million by 2020 with some having already surpassed the threshold....

By Staff reporter | Published: 20 April 2018

BUSINESS NEWS

Banks sit on RBZ business facilities

A NUMBER of Reserve Bank of Zimbabwe (RBZ) funding schemes are not accessible to businesses due to banks' reluctance to disburse them, an official has said.The apex bank has acknowledged lack of effec...

By Staff reporter | Published: 13 April 2018

BUSINESS NEWS

RBZ pledges firms retooling package

VARIOUS funding mechanisms to aid retooling for local companies are being worked on to enhance competitiveness in light of a rise in foreign direct investment under the new dispensation, the central b...

By Staff reporter | Published: 12 April 2018
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