HARARE, August 21 (The Source) – The central bank’s latest bid to deal with foreign currency shortages will hit hard Zimbabwe’s verdant mining sector, and has been described as ‘catastrophic’ by some industry players. “With immediate effect, 80 percent of all foreign exchange receipts from… Read More
HARARE, August 3 (The Source) – Presenting his latest monetary policy statement on Wednesday, central bank governor John Mangudya looked like a runner who had just done the Gutu Half Marathon in mid-October.
HARARE, August 3 (The Source) – The Reserve Bank of Zimbabwe (RBZ) has increased the Diaspora Remittance Incentive Scheme (DRIS) from 3 percent to 10 percent, in a bid to increase inflows.
HARARE, August 2 (The Source) – Zimbabwe’s central bank says it will print additional bond notes worth $300 million in an effort to ease biting cash shortages, stoking fears that the country could return to the era of money printing and hyperinflation.
HARARE, July 24 (The Source) – Government borrowing from the local market jumped nearly 40 percent in May this year, driving an increase in domestic credit by 21,1 percent on an annual basis to $8,45 billion from $6,98 billion, latest data from the central bank… Read More
By Kuda Chideme, HARARE, July 14 (The Source) – Reserve Bank of Zimbabwe (RBZ) Governor John Mangudya on Wednesday told a business symposium organized by the University of Zimbabwe that the country had received $2,8 billion in foreign currency receipts between January and June. By… Read More
By Kuda Chideme, HARARE, July 12 (The Source) – Zimbabwe’s inflation rate is too low, and needs to increase to stimulate economic growth, central bank governor John Mangudya has said.
HARARE, July 11 (The Source) – The Reserve Bank of Zimbabwe (RBZ) on Tuesday announced a major reduction in registration fees for setting up bureaux de change in the country, a move it says would eliminate illegal money changers.
HARARE, June 19 (The Source) – Zimbabwe’s annual broad money supply grew by 22,67 percent in April to $6,2 billion, largely driven by an increase of 31,22 percent in transferable deposits, latest data from the central bank has shown. However, negotiable certificates of deposits (NCD)… Read More
BULAWAYO, June 6 (The Source) – The Reserve Bank of Zimbabwe has approved the sale of nearly 50 percent of Vast Resources shares in its Zimbabwe operations to a Mauritian investment company. Vast Resources, which owns 50 percent of the Pickstone and Peerless gold mine… Read More
HARARE, May 29 (The Source) – The Zimbabwe central bank’s credit reference bureau, which started operating in January, now has 85 percent of information on total loans extended by the banking sector. Credit bureaus are seen as a solution to tackling the high level of… Read More
HARARE, May 29 (The Source) – Zimbabwe’s annual broad money supply grew by 20 percent in March to $5,88 billion, driven by an increase in transferable deposits and negotiable certificate of deposits, latest data from the central bank has shown. Transferable demand deposits and negotiable… Read More
HARARE, May 19 (The Source) – Zimbabwe’s mineral exports increased 27 percent to $852,6 million in the period January to May 12, up from $668.5 million during the same period last year on the back of increased output and firming international prices, a central bank… Read More
By Simbarashe Zishiri, HARARE, May 17 (The Source) – Hospitality and retail group Meikles Limited has reached an agreement with the government over a Reserve Bank of Zimbabwe debt which has been outstanding for two decades, chairman John Moxon said on Wednesday. The Meikles debt… Read More
HARARE, March 14 (The Source) – Individual small-scale farmers will be able to withdraw cash of up to $1,000 from their first tobacco sale and a maximum of up to $500 for subsequent sales under the 2017 selling season, which commences on Wednesday. Zimbabwe is… Read More