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 Reserve Bank of Zimbabwe

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updated Thu. June 29, 2017

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Harare: Former Reserve Bank of Zimbabwe governor Gideon Gono has been appointed to chair the Special Economic Zones board, marking his comeback to public office since he left the apex bank in 2013.
A government official said there was growing frustration in the finance ministry that the programmes would take the country back to the 2008 era where quasi fiscal activities by the Reserve Bank of Zimbabwe (RBZ) left the economy on the brink. "There ...
This is not only Illegal under Zimbabwean law, but it might be seen as blatant money laundering," said a source this week, adding the Reserve Bank of Zimbabwe had repeatedly pronounced itself that "such activities as three-tier pricings not only ...
Reserve Bank of Zimbabwe governor Dr John Mangudya said the funds that were deployed to support cotton farmers should be properly accounted for, describing side marketing as counterproductive.
Chinamasa said facilities negotiated by the Reserve Bank of Zimbabwe to repay the $1,75 billion arrears had been "scrutinised and scrutinised" by the World Bank and AfDB, who were satisfied, but did not state where the money came from.
Q: During your three-year term, has the Zimbabwean economy grown or progressed in any way? ... There is also the National Financial Inclusion strategy, way too big for what I thought we could do, entirely driven by the Reserve Bank of Zimbabwe (RBZ).
Reserve Bank of Zimbabwe (RBZ) governor John Mangudya's failure to appoint an independent board to monitor the bond notes in circulation, will further erode public confidence in the financial system, analysts have said.
"We have already mined one million carats that are sitting with the Reserve Bank of Zimbabwe as collateral security for the loan financing that we have received from the (central bank)," said Chidhakwa.
This comes as the World Bank expressed grave concerns about Treasury's fiscal Sustainability this week in its Zimbabwe Economic Update, saying government's US$1 billion overdraft with the Reserve Bank of Zimbabwe (RBZ) was unsustainable. The tight ...
GS: I am a 28-year-old Zimbabwean. A vendor and I went to school up to 'A' Level. I ply my trade ... gone from bad to worse.
The appeal to Dr Bimha was based on the fact that there was no sufficient consultation within government as the Ministry of Industry and commerce and other relevant Government entities such as the Reserve Bank of Zimbabwe, were left out in the process.
At the end of the week, we declare figures to the finance and Economic Development minister and the Reserve Bank of Zimbabwe." He said ZCDC was currently mining on three concessions, former Mbada, Marange and DTZ-OZGEO concessions ...
The days since the release of the public protector's report have been a sorry spectacle. While it is appropriate that her powers in this regard be tested stringently, the question of the Reserve Bank's mandate has given rise to a parade of strange ...
EcoCash general manager Natalie Jabangwe-Morris said her organisation wanted to support the government and the Reserve Bank of Zimbabwe (RBZ)'s efforts in ensuring financial inclusion by providing ease of transacting for all citizens everywhere. "The ...
In this land of quarrels that is South Africa, we were yet again thrust into a furore about the ownership of the South African Reserve Bank and its mandate following the Public Protector's report, bearing the hallmarks of a Gupta hatchet job ...
It said a 2013 Supreme Court ruling in a case involving the Reserve Bank of Zimbabwe (RBZ) and the Zimbabwe Revenue Authority (Zimra), delivered by the Chief Justice who was then the Deputy Chief Justice Luke Malaba with Justice Vernanda Ziyambi ...
"In 2016, the Reserve Bank of Zimbabwe governor John Mangudya directed keys parastatals, ZINARA in particular to promote and adoption of various virtual money platforms and this is what we are doing," said.
government has set up a team of technocrats drawn from the Office of the President and Cabinet, the Reserve Bank of Zimbabwe (RBZ) and Ministry of finance to come up with a framework that would be used to look into the cost running ministries.
The South African Reserve Bank has not received any official communication from Zimbabwean authorities for the adoption of the South African rand as the main unit of trade, Jabulani Sikhakhane, the divisional head of communications at the Bank, has said.
Zimbabwe's bond notes might have eased some of the country's liquidity challenges, but the World Bank warned the country's financial markets were too small to absorb the government's $1billion (R13bn) overdraft with the Reserve Bank of Zimbabwe.
... delegation composed of ministers; Patrick Chinamasa (finance), Walter Chidhakwa (Mines), Dr Obert Mpofu (Macro-economic Planning), Dr Mike Bimha (Industry and commerce), Sithembiso Nyoni (Small to Medium Enterprises) and Reserve Bank of Zimbabwe ...
"When we do have cash we have been able to disburse money, but particularly bond notes that we are receiving from the Reserve Bank of Zimbabwe. It differs daily based on demand so on one day it can be $30, $50 and $100. Its similar with what is ...
SMALL-scale chrome miners who exported through Applebridge Private Limited are set to benefit from the Reserve Bank of Zimbabwe's five percent export incentive. Speaking at the chrome miners' indaba held in Chinhoyi on Tuesday, minerals marketing ...
Further, the Reserve Bank of Zimbabwe anticipates that remittances from abroad will decline by 3% to $756 million this year from $779 million in 2016.
And then, strangely, she also found that the mandate of the Reserve Bank should change, from targeting inflation as it does now, to promoting economic growth.
A: I was heading the minerals marketing corporation (of Zimbabwe) at the time. It was a sad event and moment for me individually and for our country.
The new KYC requirements that have been approved by the Reserve Bank of Zimbabwe's Bank Use Promotion and Suppression of money laundering Unit, will apply with immediate effect.
But the moment finance minister Patrick Chinamasa and Reserve Bank of Zimbabwe governor John Mangudya showed that they were serious about the bond notes, the good money started "running away".
government is rolling out a cocktail of economic empowerment interventions to facilitate the integration of young people into mainstream economic activities and establish their position as the foundation of economic development, President Mugabe has said.
The decision by the Reserve Bank of Zimbabwe to lower rates last year hit banks' earnings. In addition, uncertainty in the currency market caused by the introduction of bond notes has led investors to take positions in equities.
Harare - Reports that the proposed fortification of basic foods will trigger an estimated 10 percent increase in the price of bread and maize meal - at least according to millers - are enough to shock any right thinking Zimbabwean, as the majority ...
Estimates indicate Zimbabwe's rate of inflation is expected to average 1.1 percent by the end of the year. The Reserve Bank of Zimbabwe introduced bond notes into the economy last year with a view to encouraging exports and the monetary authority has ...
In its April Economic Review, the Reserve Bank of Zimbabwe (RBZ), admitted as much, attributing the inflation momentum to an increase in both food and non-food inflation.
This comes as the bank is targeting more capital injection for it to attain the Reserve Bank of Zimbabwe tier 1 bank capital of $100 million by 2020 as well as a strong balance to execute its mandate of supporting agriculture, the nerve centre of this ...
The Zimbabwean market has joined many other markets, which are evolving from a past in which credit reference checking was limited to commercial banks and a handful of consumer goods retailers who offered hire purchase credit to a comprehensive system ...
In Maramwidze's case, Mr Tomana is accused of refusing or failing to issue him with a certificate for private prosecution as ordered by the High Court on May 14, 2014 in a rape case involving incarcerated former Reserve Bank of Zimbabwe official ...
government says the agriculture Development Bank should reduce ratio of costs to revenue to 30 percent, after aggressive cost containment helped the State-owned bank to $4,7 million after profit in 2016 from a loss of $3 million the prior year.
The letter was copied to the Zimbabwe stock exchange, Ministry of youth, Indigenisation and Economic Empowerment and the Reserve Bank of Zimbabwe. The controversy over Barclays Zimbabwe began after Barclays Plc sold shares to the Malawi listed ...
THE Reserve Bank of Zimbabwe (RBZ) will investigate fuel operators who are opting for cash and deliberately refusing to accept plastic money.
The Affirmative Action Group (AAG) has vowed to confront the Reserve Bank of Zimbabwe (RBZ) over the sale of Barclays' local unit to a Malawian outfit ahead of a management consortium.
The Reserve Bank of Zimbabwe is working on a host of reforms to address these challenges, though. The reforms include the implementation of the National Financial Inclusion strategy that will promote branchless banking, establish a credit guarantee ...
The government, through the Reserve Bank of Zimbabwe, has issued $2 billion worth of. Treasury Bills from 2012 to December last year amid fears that the phenomenon was a new form of money printing with a huge potential to jeopardise the economic ...
However, committee chairperson David Chapfika said they did not need Mangudya's permission as the RBZ fell under the committee's purview.
Harare - Before the dust has even settled following the axing of former prosecutor-General (PG) Johannes Tomana, serious jockeying for the top post has ...
Zimbabwe's ongoing cash shortage could be an advantage for Econet Wireless' mobile money platform EcoCash, according to industry analysts.
Harare - The Zimbabwe Amalgamated Housing Association (Zaha) has approached the High Court seeking to recover nearly $1,5 million that was locked up ...
As Zimbabwe continues to grapple with cash shortages with banks limiting daily withdrawals to as little as $80 per week, bond notes have flooded the ...
The government claims it is saving in excess of $10 million each month following its job freeze imposed a few years ago. BY VENERANDA LANGA.
The country has been battling foreign currency shortages since the 1960s and needs export-orientated production to grow its economy, with the Reserve Bank of Zimbabwe (RBZ) introducing several financing packages to foster production across economic ...
The central bank said Monday it is currently processing Barclays' application to sell 68 percent of its shareholding in the Zimbabwe unit to Malawi-based First Merchant Bank. The Reserve Bank of Zimbabwe Governor John Mangudya told a portfolio ...


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