The Reserve Bank of Zimbabwe (RBZ) foreign currency auction will take a three-week break as companies close for festive holidays. The latest weekly auction results were due this afternoon. In an update, the RBZ said the auction will only resume next year. “As the festive season is upon
The Reserve Bank of Zimbabwe kept its key policy rate unchanged at 200 percent in its latest Monetary Policy Committee (MPC) meeting held last Friday putting to bed hopes of a downward review this year. The Bank hiked its policy rate to 200 percent from 80
The Zimbabwe Energy Regulatory Authority (ZERA) has released the latest petroleum prices for December which have been reviewed downwards by US$ 0.03 for diesel and US$ 0.05 for petrol ahead of festive season. Fuel prices are adjusted monthly due to factors including global oil prices and
Treasury has slashed by half, the Money Transfer Tax (IMTT) on domestic foreign currency transfers from 4 percent to 2 percent in an attempt to encourage usage of electronic transfers on foreign currency and lessen the demand for hard cash. In May this year, President Emmerson
First Capital Bank income for the third quarter (Q3) to September was up 82 percent ahead of prior year comparative period thanks to strong performance on interest income which was driven by growth in the foreign currency loan book and the re-pricing of the ZW$
Zimbabwe’s first locally owned commercial bank, Time Bank Zimbabwe Limited has acquired authorization from the Reserve Bank of Zimbabwe to conduct limited banking activities after a pre-opening inspection by the regulator.
Local businesses are being urged to practice sound cash flow management techniques to avoid borrowing at current interest rates of 200 percent, amid ongoing efforts to push for interest rates cut to sustainable levels. According to Zimbabwe National Chamber of Commerce (ZNCC) president Mike Kamungeremu at
263Chat · Surging Inflation Takes Toll On Citizens, ZIMCODD Debt and development advocacy group, the Zimbabwe Coalition on Debt and Development (ZIMCODD) has attributed the worsening plight of ordinary citizens to the surging inflation owing to deepening socio-economic crisis and external factors. In a statement, ZIMCODD said
Teachers and other civil servants are planning to hold mass demonstrations across the country in protest over the high cost of living and poor remunerations as inflation continues to soar. The Zimbabwe Confederation of Public Sector Trade Unions (ZCPSTU) announced that they will hold a demonstration
263Chat · RBZ Approves Zim's First Crowdfunding Platform.mp3 The Reserve Bank of Zimbabwe (RBZ) recently approved Lloyd Crowdfunding, a subsidiary of Lloyd Corporate Capital, to operate a crowdfunding business within the confines of the Fintech Regulatory Sandbox. Crowdfunding for business is the online offering of financial securities
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