The Reserve Bank of Zimbabwe (RBZ) has disbursed a cumulative total of US$ 3.6 billion to local businesses through the foreign currency auction since its introduction in June 2020. The auction was set up to stabilize exchange rates and increase local enterprises' access to hard currency
The Reserve Bank of Zimbabwe (RBZ) has appointed Dr Innocent Matshe as Deputy Governor with effect from 1 October 2022 replacing Dr Kupukile Mlambo whose tenure expired in June this year. Matshe has worked for the African Economic Research Council (EARC), as a World Bank Consultant,
A total of 9516 gold coins valued at ZW$9 billion had been sold as at 23 September 2022, data from the Reserve of Bank of Zimbabwe show. Of this total, 35 percent were sold to individuals while 65 percent were taken by corporates, including asset management
263Chat · Mnangagwa Offside On Economic Measures, CCC Opposition Citizens Coalition for Change (CCC) has played down the recent economic measures pronounced by President Emmerson Mnangagwa describing them as ill-thought knee jerked measures. On Saturday, Mnangagwa announced a raft of measures aimed at controlling the spiraling exchange
The Zimbabwe dollar fell by 2.30 percent against the American dollar in yesterday’s foreign currency auction to settle at ZW$ 115.4223 from ZWL$ 112.8228 recorded during previous week session as the local currency continues to lose ground amid concerns that authorities are failing to put
Technology Group-Cassava Smartech revenue for the quarter ended August 31, 2021 grew by over 70 percent compared to the same period the previous year driven by growth in transaction activity, the Group has announced. The growth in revenue weathered business slow down induced by a national
The country’s biggest bank by deposits and asset base, Commercial Bank of Zimbabwe (CBZ ) has upgraded its digital banking platforms- CBZ Touch and CBZ Pay as the bank seeks to enhance customer experience and security when transacting. The new version of the CBZ-Touch application -currently
The Reserve Bank of Zimbabwe (RBZ) has listed 18 entities facing penalties for abusing the foreign currency exchange auction. In a statement, the central bank said the Financial Intelligence Unit had carried out investigations which showed some companies were abusing the foreign exchange auction system. “The Reserve Bank
The Zimbabwe Coalition on Debt and Development (ZIMCODD) says the recently gazetted Statutory Instrument 127 of 2021 (SI 127 of 2021) maintains existing economic disparities within the country. SI 127 of 2021 sets out offences (referred to as civil infringements) and penalties associated with the infringement
Zimbabwe’s month-on-month inflation rate stood at 3, 83 percent in September shedding 4, 61 a percentage points on the August rate of 8, 44 percent, on the back of stabilization of the foreign exchange market which was pushing inflation. Latest data released by the Zimbabwe National
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