BUSINESS NEWS

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

INDUSTRIALS & ENERGY

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

BUSINESS NEWS

'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

POLITICS

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

TRANSPORT & TOURISM

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

BUSINESS NEWS

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

BUSINESS NEWS

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

OPINION

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

ZIMBABWE

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

OPINION

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

OPINION

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

BUSINESS NEWS

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

OPINION

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

BUSINESS NEWS

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

OPINION

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

ZIMBABWE

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

INDUSTRIALS & ENERGY

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

CONSTRUCTION & PROPERTY

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

INDUSTRIALS & ENERGY

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

BUSINESS NEWS

Local currency recipe for disaster

FINANCE minister Mthuli Ncube's recent pronouncements that Zimbabwe will revert to using its own currency, a decade after it abandoned the local dollar in favour of a basket of currencies is not feasi...

By Staff reporter | Published: 19 January 2019

POLITICS

Chamisa want civil servants paid in hard currency

Government should make efforts to pay civil servants salaries in foreign currency, MDC president Nelson Chamisa has said.This comes as the on-going strike by doctors has entered its fourth week, after...

By Staff reporter | Published: 31 December 2018

POLITICS

Zanu-PF admits currency chaos

Zanu-PF has admitted that the government's monetary policies have failed and that it fears the worsening economic crisis could lead to riots.The ruling party's committee on the economy made the admiss...

By Staff reporter | Published: 23 December 2018

FINANCIAL SERVICES

Zimnat introduces hard currency payment option

Zimnat General Insurance has introduced a hard currency insurance payment option to enable its clients to retain the value of their insured assets in the event of their sustaining a loss and making an...

By Staff reporter | Published: 05 December 2018

BUSINESS NEWS

Zimbabwe already on path to currency reforms

Asset management and financial services firm, Zimnat, says pre-mature devaluation of real time gross settlement (RTGS) dollars could cause irreparable damage to confidence, national savings, financial...

By The Sunday Mail | Published: 03 December 2018

BUSINESS NEWS

Zimbabwe currency volatility not good for recovery plan

THE 2019 National Budget presented by Finance minister Mthuli Ncube, though commendable for putting in place fiscal austerity and fiscal consolidation measures to contain the widening fiscal deficit, ...

By Staff reporter | Published: 30 November 2018
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