ECONOMC INDICATORS

Mnangagwa's RTGS$ hits new low

Zimbabwe's interim currency fell to a new low on the black market on Thursday and local firms were demanding payment in U.S. dollars as a hedge against inflation, which is running at its highest in a ...

By Reuters | Published: 20 June 2019

ZIMBABWE

CSD market value clocks RTGS$11bn

CHENGETEDZAI Securities Depository (CSD) market value has risen to RTGS$11 billion as at end of May 2019 after processing in excess of 82 120 securities deposits since going live in August 2014. Aroun...

By Staff reporter | Published: 19 June 2019

TRANSPORT & TOURISM

Rainbow Tourism Group trading update

The company delivered a strong performance in 2018 achieving revenues of  $34.3 million which was 27% above the prior year despite an increasingly challenging economic climate. This performance w...

By Staff reporter | Published: 13 June 2019

POLITICS

Mutodi sued over RTGS$40 000 debt

INFORMATION ministry deputy minister, Energy Mutodi's struggling company National Housing Development Trust (NHDT), risks having its bank accounts garnished after failing to settle a RTGS$40 000 debt ...

By Staff reporter | Published: 13 June 2019

BUSINESS NEWS

RTGS dollar plunges by 140%

ZIMBABWE'S local currency, the Real Time Gross Settlement (RTGS) dollar, has plunged by 140% to trade at US$1:ZWL$6 on the official interbank market, nearly four months after its introduction in Febru...

By Staff reporter | Published: 12 June 2019

TRANSPORT & TOURISM

RTG goes regional to raise forex

Hotelier, Rainbow Tourism Group (RTG) is working on securing management contracts for hotels in the region as part of measures to augment the company's capacity to generate foreign currency.RTG chief ...

By Staff reporter | Published: 30 April 2019

BUSINESS NEWS

RTG Bulawayo facelift to meet ZITF opening dates

RAINBOW Tourism Group (RTG) says the  refurbishment of its Bulawayo Rainbow Hotel will be completed by March 31, in time for the Zimbabwe International Trade Fair. RTG corporate communications an...

By Staff reporter | Published: 05 February 2019

BUSINESS NEWS

Business welcomes RTGS for FCAs

Business has welcomed the Reserve Bank of Zimbabwe (RBZ)'s move to allow payments through the real time gross settlement (RTGS) system for foreign currency account (FCA) holders.The Ministry of Financ...

By Staff reporter | Published: 30 January 2019

BUSINESS NEWS

Court orders EgyptAir to pay RTG $20 000 boarding debt

The High Court has ordered EgyptAir Holdings to settle a debt of over $20 000 owed to Rainbow Tourism Group Limited for its hotel and hospitality services rendered to the airline's guests.This comes a...

By Staff reporter | Published: 16 December 2018

FINANCIAL SERVICES

GetBucks cautious on mortgage loans

GetBucks Microfinance Bank CE Terrence Mudangwe says the financial institution is treading cautiously in the issuance of mortgage loans, given the nature of its assets on the market, but is leveraging...

By Staff reporter | Published: 07 December 2018

BUSINESS NEWS

Businessman remanded for mortgaging council land

A HARARE businessman, one of the shareholders of Augur Investments that won a tender to construct Airport Road, appeared in court yesterday facing fraud allegations after he mortgaged City of Harare l...

By Staff reporter | Published: 23 November 2018

FINANCIAL SERVICES

Metbank to focus on mortgage financing, e-banking

METBANK says it will focus its lending business on mortgage financing and commercial banking products that promote financial inclusion under a strategic plan that will determine the direction of the i...

By Staff reporter | Published: 12 September 2018

TRANSPORT & TOURISM

RTG completes US$1 million hotel renovation

HOTELING concern Rainbow Tourism Group has completed its US$1 million refurbishment of the 88-room Victoria Falls Rainbow Hotel as it seeks to increase its market share.This follows the refurbishment ...

By Staff reporter | Published: 13 July 2018

TRANSPORT & TOURISM

RTG douses fire outbreak claims

THE Rainbow Tourism Group (RTG) has refuted claims on social media that a fire that broke out at the Rainbow Towers Hotel in Harare on Wednesday engulfed a huge portion of the hotel as it only covered...

By Staff reporter | Published: 13 July 2018

BUSINESS NEWS

RTG completes Victoria Falls Rainbow refurbishment

LISTED Rainbow Tourism Group (RTG) has completed refurbishment of the Victoria Falls Rainbow Hotel in line with global standards and growing demand for quality accommodation.Upgrading of the 88-room f...

By Staff reporter | Published: 11 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

TRANSPORT & TOURISM

RTG posts 16% revenue growth

RAINBOW Tourism Group Limited has posted a 16 percent growth in revenue to $11,1 million from $9,6 million in the first five months of 2018, spurred by notable recovery in operations following a succe...

By Staff reporter | Published: 19 June 2018

TRANSPORT & TOURISM

RTG shareholders fume over dividend

Minority shareholders in Rainbow Tourism Group (RTG) refused to approve directors' fees amounting to US$95 000 and their reappointment to the board at an annual shareholders meeting this week, but los...

By Staff reporter | Published: 15 June 2018

TRANSPORT & TOURISM

RTG banks on elections

THE Rainbow Tourism Group (RTG) is banking on next month's general elections to boost its revenues further after posting a 16% increase in revenue to $11,1 million in the first five months of the year...

By Staff reporter | Published: 15 June 2018

TRANSPORT & TOURISM

RTG revenue up 16%

Rainbow Tourism Group (RTG) revenue for the first five months this year has gone up 16 percent to $11,1 million from $9,6 million  during the same period last year due to improved occupancy acros...

By Staff reporter | Published: 15 June 2018

BUSINESS NEWS

RTG sues Zimpraise over $12k hotel bill

Local hospitality concern, Rainbow Tourism Group Limited (RTG), has taken Zimpraise Trust, a company that owns gospel music group, Zimpraise, to the High Court demanding settlement of a $12 000 hotel ...

By Staff reporter | Published: 29 May 2018

FINANCIAL SERVICES

Banks discontinue manual RTGS payments

A NUMBER of financial institutions in Zimbabwe have discontinued manual real-time gross settlement (RTGS) payments, as they go paperless, banking on increasing their efficiencies.Some of these banks i...

By Staff reporter | Published: 22 May 2018

BUSINESS NEWS

US dollar, RTGS not at par, says CZI

PEGGING the greenback to Real Time Gross Settlement (RTGS) balances and bond notes on a one-to-one basis does not reflect the true value of the US dollar, the Confederation of Zimbabwe Industries (CZI...

By Staff reporter | Published: 17 May 2018

BUSINESS NEWS

RTGS transactions on the rise

Transactions processed through the RTGS system increased by 25.8 percent to close the week ending April 27 at $1.6 million from 1.3 million the previous week, according to the RBZ latest Weekly Econom...

By Staff reporter | Published: 15 May 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
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