BUSINESS NEWS

Cash crisis shakes Mnangagwa's govt

CAUGHT in a dilemma between printing money and possibly fuelling inflation, or nursing acute cash shortages, President Emmerson Mnangagwa's government has turned to militant policies, controlling some...

By Staff reporter | Published: 06 October 2019

BUSINESS NEWS

Zimbabwe pensioners to get express cash

THE Government is working with the Reserve Bank of Zimbabwe and banks to ensure that pensioners access cash for their pension payouts.The country has been experiencing cash shortages that have seen me...

By Staff reporter | Published: 06 October 2019

BUSINESS NEWS

High Court sets EcoCash hearing date

The High Court on Wednesday set Friday as the date when it will hear the case in which the Reserve Bank of Zimbabwe (RBZ) ban on mobile money cash-in and cash-out services is being challenged.Cassava ...

By New Ziana | Published: 04 October 2019

OPINION

Zimbabwe now a truly cashless society

THE monetary system the world over, including in Zimbabwe, over has undergone a sea of change in the past century. From barter trade, a world without money, there have been many other means of exchang...

By Staff reporter | Published: 04 October 2019

BUSINESS NEWS

RBZ develpps cold feet, brings back cash-in, cash-out

The Reserve Bank of Zimbabwe (RBZ) has today brought back the on cash-in, cash-out and cash-back facilities attached with stringent rules.In a statement,  the RBZ advised payment system providers...

By Staff reporter | Published: 02 October 2019

BUSINESS NEWS

RBZ clamps down on illegal cash deals

THE Reserve Bank of Zimbabwe has banned with immediate effect all cash-in, cash-out and cash-back transactions, which were used by some dealers to extort cash from members of the public. Further, the ...

By Staff reporter | Published: 01 October 2019

BUSINESS NEWS

Zimbabwe Reserve Bank bans mobile money agencies

In what analysts have described as a major blow to the advent of mobile money and financial inclusion, the Zimbabwean central bank has banned mobile money agencies from facilitating cash withdrawals o...

By Staff reporter | Published: 30 September 2019

BUSINESS NEWS

RBZ bans Cash In and Out with immediate effect

The Reserve Bank of Zimbabwe has directed mobile payment system providers and merchants to discontinue cash in and cash out with immediate effect while it has also directed economic agents to disconti...

By Staff reporter | Published: 30 September 2019

FINANCIAL SERVICES

Old Mutual explains half-year cash outflows

Old Mutual Zimbabwe Group says it was not involved in buying foreign currency on the local foreign currency markets, in view of significant cash outflows that was notable during the half-year to June ...

By Staff reporter | Published: 27 September 2019

INDUSTRIALS & ENERGY

Lancashire Steel deal collapses

A DEAL in which Indian firm, Whinstone Enterprises, was set to pour in funding into Lancashire Steel in a joint venture arrangement, has crumbled after the firm failed to follow laid down Government p...

By Staff reporter | Published: 03 May 2019

BUSINESS NEWS

Mnangagwa's govt cashes in big on fuel excise duty

THE Zimbabwe Revenue Authority (Zimra) says exercise duty collections more than doubled during the first quarter of 2019 compared to the same period last year after government hiked duty for fuel in J...

By Staff reporter | Published: 02 May 2019

INDUSTRIALS & ENERGY

Lancashire Steel deal collapses

A DEAL in which Indian firm, Whinstone Enterprises, was set to pour in funding into Lancashire Steel in a joint venture arrangement, has crumbled after the firm failed to follow laid down Government p...

By Staff reporter | Published: 24 April 2019

BUSINESS NEWS

Electronic transactions usage in remote areas surges

THE use of mobile and Internet-based transactions in remote areas has been on an upward trajectory with the generality of the country's populace embracing modern modes of payment.A snap survey in most...

By Staff reporter | Published: 30 December 2018

TELECOMS & TECHNOLOGY

Shares in Liquid are like $135m cash, says Mboweni

Econet Wireless Zimbabwe (EZW) CEO Douglas Mboweni has described the company's equity stake in Liquid Telecom Holdings, which is just under 10% as "a US$135 million forex reserve".Speaking about the f...

By Staff reporter | Published: 23 December 2018

INDUSTRIALS & ENERGY

Musimboti cashes in on drugs crisis

CERTIFIED herbal medicines manufacturer, Musimboti Traditional Science and Technology Institute (MTSTI), has over the past two months experienced a surge in business as patients resort to traditional ...

By Staff reporter | Published: 19 November 2018

POLITICS

'Grace Mugabe owns Wellcash'

Local Government minister July Moyo was yesterday grilled in Parliament over government's engagement of a company owned by former first lady Grace Mugabe as debt collectors in several local authoritie...

By Staff reporter | Published: 27 September 2018

BUSINESS NEWS

Zivhu calls for probe into cash vending

CHIVI SOUTH legislator Killer Zivhu (Zanu-PF) feels the government and the Reserve Bank of Zimbabwe (RBZ) must investigate circumstances resulting in the current cash crisis in the formal banking syst...

By Staff reporter | Published: 17 September 2018

BUSINESS NEWS

Mthuli Ncube has a cash crisis plan

NEWLY-APPOINTED Finance and Economic Development minister Mthuli Ncube says government expects to announce a plan to tackle the on-going currency crisis by month-end and confirmed that he expects to r...

By Staff reporter | Published: 11 September 2018

BUSINESS NEWS

Zesa under fire over EcoCash purchases

THE Zimbabwe Electricity Supply Authority (Zesa) has increased its minimum EcoCash prepaid electricity token to $10 from $2, much to the chagrin of customers who say the hike caught them by surprise. ...

By Staff reporter | Published: 10 September 2018

BUSINESS NEWS

Govt goes after businesses as cash crisis gnaws

The Zimbabwe Anti-Corruption Commission (Zacc) has threatened to go after businesses that do not bank cash proceeds as well as financial institutions that allegedly channel cash into the informal sect...

By Staff reporter | Published: 06 September 2018

TELECOMS & TECHNOLOGY

EcoCash charges further slashed

LEADING mobile telecommunications company Econet Wireless Zimbabwe has further lowered its EcoCash transaction tariffs with effect from August 1, 2018.In a notice issued yesterday, Econet said sending...

By Staff reporter | Published: 26 July 2018

BUSINESS NEWS

$5m gold, cash scandal suspects set free

THE $5 million gold and cash scandal, which rocked Zimbabwe about two weeks ago, is dead in the water amid indications that the five Indian suspects have been released along with their "loot".While po...

By Staff reporter | Published: 23 July 2018

BUSINESS NEWS

Cash dealers slash exchange rate

CASH dealers are selling bond notes at a premium rate of 22% to buyers using EcoCash in the high-density Harare suburb of Mbare, which is the lowest rate on offer thus far.In a snap survey conducted b...

By Staff reporter | Published: 23 July 2018

POLITICS

Mnangagwa's source of multi-million-dollar campaign cash questioned

IN TERMS of funding alone, the ruling Zanu-PF party has clearly had a huge advantage over the competition as campaigning gets into the final stretch for the crunch July 30 elections.Huge billboards an...

By Staff reporter | Published: 22 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
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