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Africa Moyo Business Reporter The switch to high-percentage electronic banking, fed by the prevailing cash shortage countrywide, is reportedly taking toll on job security in the banking sectors amid indications that several banks have resorted to hiring employees, primarily tellers, on a part-time basis, The Herald Business can reveal.
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Business Reporter Government has suspended a moratorium banning the importation of soyabean into the country in an effort to ensure reliable supply of edible oil in the country, oil producers have confirmed.
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Business Reporter ZIMBABWE’S cotton production increased 150 percent this year, largely driven by Government’s free input support programme, according to official statistics.
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Africa Moyo Business Reporter PRESIDENT Mugabe says beneficiation and value addition, and a deliberate policy to curb rampant leakages of precious minerals especially gold, are central to realising more revenue from the mining sector.
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Business Reporter Some errant banks could be diverting to other uses, foreign currency allocated to companies by the Reserve Bank of Zimbabwe (RBZ) towards procurement of critical imports, Confederation of Zimbabwe Industries (CZI) revealed yesterday.
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Happiness Zengeni and Taurai Mangudhla— THE Reserve Bank of Zimbabwe (RBZ) has secured close to $1 billion in facilities to ease foreign currency shortages, while it has selectively increased export incentives as part of efforts to stimulate production. RBZ governor Dr John Mangudya yesterday emphasised in his Mid-Term Monetary Policy Statement that focusing on foreign exchange […]
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Runyararo Muzavazi Herald reporter— A total of 166,8 million kilogrammes of tobacco worth $489,3 million have been sold since the 2017 marketing season opened in March, latest statistics from the industry show. During the comparable period last year, at least 166,9 million kg of tobacco were sold at a value of $489,4 million.
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Felex Share Senior Reporter— Zimbabwe might experience massive load-shedding starting next week if Zesa Holdings fails to settle an outstanding power import bill of $43 million owed to Eskom of South Africa and Hydro Cahora Bassa (HCB) of Mozambique. Eskom supplies Zimbabwe with 300 megawatts, while HCB chips in
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Pamela Shumba Bulawayo Bureau GOVERNMENT will bring back student loans and grants starting next year in an effort to improve skills and manpower development, a Cabinet minister has said.
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Golden Sibanda Senior Reporter— FINANCE and Economic Development Minister Patrick Chinamasa says the recently introduced bond notes will spur private consumption and in the process boost the country’s weak aggregate demand. Presenting the 2016 National Budget Statement to Parliament in Harare yesterday Minister Chinamasa said with the slowdown in economic activity in the country,
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Tendai Mugabe Senior Reporter— Bond notes rolled out by the Reserve Bank of Zimbabwe yesterday got a positive response from the transacting public, despite spirited attempts by opposition groups to discredit them.
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Daniel Nemukuyu Senior Court Reporter— THE existence of pending court cases in which some individuals are challenging the legality of Statutory Instrument 133 of 2016 Presidential Powers (Temporary Measures) Act does not stop the issuance of bond notes as feared, the Reserve Bank of Zimbabwe has said. RBZ lawyer Mr Gerald Mlotshwa of GN Mlotshwa and Company […]
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Elita Chikwati Senior Reporter— Government has gazetted the Reserve Bank of Zimbabwe Amendment Bill 2016 to enable the central bank and Finance and Economic Development Minister to issue bond notes exchangeable at par value with the United States dollar.
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Lloyd Gumbo Senior Reporter— FOREIGN currencies in bank accounts will not be converted to bond notes when they are finally introduced, Reserve Bank of Zimbabwe Governor Dr John Mangudya has said. In a telephone interview yesterday, Dr Mangudya said there was no need for bankers to panic as their money would remain in the currencies it […]
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Reserve Bank of Zimbabwe Governor Dr John Mangudya correctly noted this week that people will not be forced to use his much-heralded bond notes: they will be able to use “plastic”, that is electronic transfers, to move US dollars between bank accounts. Already, with the shortage of US dollar banknotes, most people have switched to plastic […]