RBZ invests sterilised funds in agriculture
ABOUT $1 billion of idle or reserve money that was reportedly used to speculate on currency trading has been invested in savings bonds and will no longer be available on … Read More
Category: Finance
RBZ to inject $1 billion new coins, notes
Cash in circulation will slightly more than double over the next six months, as the Reserve Bank of Zimbabwe (RBZ) injects an extra $1 billion to satisfy legitimate demand for … Read More
Chemplex seeks RBZ forex fundraising approval
FERTLISER and chemical manufacturer, Chemplex Corporation, is seeking Reserve Bank of Zimbabwe (RBZ) approval to sell some of its assets in US dollars to raise $10 million to complete a … Read More
RBZ Working On Stabilising Exchange Rate: Mangudya
The Reserve Bank of Zimbabwe (RBZ) governor John Mangudya said that the central bank will inject more liquidity on the interbank market to stabilise the exchange rate and ensure efficient … Read More
Ncube shocks international financial institutions
INTERNATIONAL financial institutions (IFIs), particularly the International Monetary Fund (IMF), which recently approved a Staff-Monitored Programme with Zimbabwe, were stunned by government’s decision to immediately scrap the multi-currency regime and … Read More
“The US$ Isn’t Sustainable For A Number Of Reasons,”Tendai Biti
Former Finance Minister, Tendai Biti says the US$ is not sustainable for a small economy like Zimbabwe. Movement for Democratic Change Vice President, Tendai Biti, has said that the US … Read More
Local banks dump Paynet
Ubiquity of mobile money whilst growing discomfort with cash queues will see more customers sign up for mobile financial services. ZIMBABWE banks have dumped Paynet, a subsidiary of Mauritian financial … Read More
Mthuli Ncube’s dramatic new currency flip-flops
GOVERNMENT was stampeded into seeking refuge in the resurrected Zimbabwean dollar — as an emergency — as it feared losing control of the financial levers of the economy through rapid … Read More
Agribank weighed down by foreign debt
STATE-owned Agribank says it is struggling to pay up to $30 million in loans secured from South Africa-based Industrial Development Corporation (IDC) due to foreign currency shortages. Agribank CEO Sam … Read More
RBZ mops up $2bn excess liquidity
The Reserve Bank of Zimbabwe (RBZ) savings bond has to date attracted $2 billion from the market, and now accounts for around 20 percent of all the real time gross … Read More
