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Kudzanai Sharara in Accra, Ghana Reserve Bank of Zimbabwe (RBZ) Governor Dr John Mangudya has thrown weight behind the Pan-African Payment and Settlement System, a cross-border, financial market infrastructure enabling payment systems across Africa. PAPSS was developed by Afreximbank and is regarded as a leading-edge technology connecting African banks, payment service providers and other financial […]

The decision that the new Zimbabwean gold coin, the Mosi-oa-Tunya, will be sold in Zimbabwean dollars as well as foreign currency from July 25 will help defeat the black market by offering something better and, critically, legal for those who wish to store value in a safe rather than bundles of US$100 notes bought from […]

Herald Reporter Residents have backed a cocktail of measures that were announced by Government last month to cushion citizens from inflation and stabilise prices in the wake of brazen economic sabotage and the consequent erosion of incomes. This comes as the Reserve Bank of Zimbabwe (RBZ) is set to introduce gold coins that will provide […]

Business Reporter THE Reserve Bank of Zimbabwe (RBZ) has released US$100 million to clear the backlog of foreign currency allocations at the RBZ’s weekly auctions, Governor Dr John Mangudya said. The central bank introduced weekly foreign currency auctions in 2020 to enhance foreign currency access by key importers, but some of the successful bids could […]

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.

Livingstone Marufu Herald Reporter— GOVERNMENT has, with immediate effect, directed banks not to levy 5 percent tax on all transactions below $10 as a way of promoting financial inclusion. This comes as Government moves to provide safety nets to cushion vulnerable people and allow them to transact freely. Banks heeded Government’s call to remove the $0, […]

The banking sector plans to import another 50 000 point-of-sale machines in the next 100 days and along with NetOne’s major campaign to break Econet’s near monopoly on mobile money, there should within a few months be adequate capacity to take the cashless economy rural.

Oliver Kazunga Senior Business Reporter ZIMBABWE’S exports increased by 40 percent to $3,5 billion between January and November last year compared to $2,5 billion during the comparable period in 2016, official trade figures show. The improved export performance during the 11-month period is largely attributed to a raft of measures the Government and the Reserve Bank of Zimbabwe […]

Innocent Ruwende in Victoria Falls THE economy is projected to grow by four percent next year driven by a positive sentiment spurred by the new political dispensation and anticipated good agriculture season, the Reserve Bank of Zimbabwe has said.

Nqobile Tshili Bulawayo Bureau The official United States dollar to bond notes exchange rate remains 1:1 and the public should use licensed financial agencies to conduct monetary exchange transactions, the Reserve Bank of Zimbabwe (RBZ) has said. Central bank Governor Dr John Mangudya said yesterday that prevailing exchange rate distortions on the black market could be avoided […]

Ishemunyoro Chingwere Business Reporter Some illegal currency dealers who stocked the US dollar over the weekend in anticipation of a monumental collapse of value of bond notes are beginning to count their losses as the surrogate currency remains stable. Zimbabwe last Saturday woke up to a currency chaos with illegal street dealers demanding as high as $1,60 […]