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The Reserve Bank of Zimbabwe (RBZ) has liberalised the US dollar exchange rate against Real Time Gross Settlement (RTGS) balances, bond notes and all currencies in the multi-currency basket as it seeks to formalise trade in foreign currency.

INDUSTRIALISTS and market watchers have hailed the monetary policy statement presented yesterday by Reserve Bank of Zimbabwe (RBZ) Governor Dr John Mangudya, saying it will kill the foreign currency parallel market and help increase production.

Almost all in business and most Zimbabweans will welcome yesterday’s Monetary Policy Statement that legalises and tackles the parallel currency market, and gives more agency to the Reserve Bank of Zimbabwe management of exchange controls, bans dual pricing for goods and services in Zimbabwe, and ensures that exporters must use or sell their retained forex earnings within 30 days.

The monetary policy to be announced by Reserve Bank of Zimbabwe Governor Dr John Mangudya today is expected to proffer solutions to prices that have been going up and announce measures to create financial stability in the economy.

The monetary policy to be delivered by Reserve Bank of Zimbabwe Governor, Dr John Mangudya, today should address events of the past few weeks that saw prices of some basic commodities being increased.

Golden Sibanda and Africa Moyo The Reserve Bank of Zimbabwe (RBZ) yesterday unveiled a raft of interventions, including enhancing nostro stabilisation facilities to support foreign payments, backed by a $1,5 billion kitty to be availed by the Afreximbank, as part of measures to accelerate economic turnaround.

THE 2018 Monetary Policy Statement that was presented yesterday by Reserve Bank of Zimbabwe governor Dr John Mangudya, is another clear testimony, the call by President Mnangagwa that Zimbabwe is “open for business” is not just a mantra, but that it has every intention to “walk-the-talk.”

Kudzanai Sharara Assistant Business Editor Monetary transactions in the Zimbabwean economy are now dominated by electronic payment systems with more than 96 percent of local transactions now being conducted through plastic, internet and mobile money.

Business Reporter The Reserve Bank of Zimbabwe said it drew down as much as $1,1 billion from nostro stabilisation facilities last year extended by the Afreximbank as it sought to stabilise the foreign exchange market.

Business Reporter INWARD international remittances into Zimbabwe for the year 2017 amounted to $1,4 billion, an 11 percent decrease from $1,6 billion in 2016. Out of the $1,4 billion, Diaspora remittances amounted to $698,9 million.

Livingstone Marufu THE rate of non-performing loans (NPLs) had dropped to 7,08 percent by end of last year from 20,5 percent in 2015, raising great expectations that the financial services sector is becoming more stable.

Africa Moyo Business Reporter Reserve Bank of Zimbabwe (RBZ) Governor Dr John Mangudya yesterday said bankers have agreed to accept 99-year leases as collateral after Government tweaked them to be transferable and bankable.

Happiness Zengeni in ZURICH, Switzerland— President Mnangagwa says his Government will do everything possible to assist investors keen on starting businesses in Zimbabwe and has urged those interested to take the first mover advantage to explore the abundant investment opportunities in the country. The President said Zimbabwe was now a vision every progressive person wanted […]

Taurai Mangudhla Senior Business Reporter— PRESIDENT Mnangagwa leads a high-powered Zimbabwean delegation comprising Cabinet ministers, top Government officials and private sector representatives to Davos, Switzerland, for the 48th World Economic Forum annual meetings. The President’s itinerary indicates the delegation was scheduled to leave Harare at 4:30am today for the crucial

Taurai Mangudhla Senior Business Reporter Foreign currency shortages that culminated in the prevailing cash shortages are one of the major economic highlights of 2017. While the media and public debate have predominantly focused on the long queues and transaction complications arising from the shortage of cash, little has been said about how depositors have lost value due […]