By Matt E.T. Matigari, HARARE, July 26 (The Source) – The Reserve Bank of Zimbabwe (RBZ), and its principals, are solely responsible for the most extensive and sustained drain of wealth and destruction of people’s welfare in Zimbabwe’s colonial and post-colonial history.
HARARE, May 3 (The Source) – Zimbabwe’s central bank says the country has reduced its foreign payments backlog by more than 50 percent to $185 million, largely due to forex flows from ongoing tobacco sales and improved dollar deposits. Businesses, especially manufacturers and mines, have… Read More
HARARE, October 31 (The Source) – Zimbabwe’s President Robert Mugabe has issued regulations providing the legal basis for the issuance of ‘bond notes,’ a surrogate currency his government hopes will ease a biting US dollar bank note shortage, according to a government notice issued late… Read More
HARARE, May 5 (The Source) – The Reserve Bank of Zimbabwe has announced plans to introduce local “bond notes” to circulate alongside a basket of foreign currencies adopted in 2009, in a bid to ease widespread cash shortages stalking its sluggish economy. This has raised… Read More
HARARE, April 19 (The Source) – Zimbabwe has managed to save 110MW of electricity, the size of a small power station and about a tenth of current output, since pre-paid meters were introduced in 2012, the country’s power utility has said. The southern African country’s… Read More
HARARE, August 13 (The Source) – CBZ Bank says it will contain the level of non-performing loans at around eight percent by year-end, from the current 6,1 percent, and welcomed plans to set up a special purpose vehicle (SPV) for bad loans as well as… Read More
HARARE, March 22 (The Source) – Government and the Africa Export and Import Bank (Afreximbank) on Saturday availed a $100 million facility aimed at reviving the interbank market to help increase liquidity. The interbank market has not been functional since 2009 when the country adopted… Read More