The Bond-USD rates are ever-increasing and with them a demand for higher dimensions of the bond note. The Reserve Bank Of Zimbabwe (RBZ) is set to release a 100 dollar bond note. A document is in circulation about the features that it will have. This development comes after RBZ announced new regulations by the Monetary… Continue reading RBZ To Introduce $100 Bond Note
Tag: RBZ
RBZ Freezes Transerve, Halsted, Enbee Stores Accounts For Money Laundering
Four accounts of companies listed on the Zimbabwe Stock Exchange were frozen by RBZ’s (Reserve Bank Of Zimbabwe) Financial Intelligence Unit (FIU) on Tuesday over money laundering allegations. The FIU froze the accounts of Ceribrian TIA Transervet, Powerspeed investment Private (Electrosales), Halsted Brothers and Enbee Store with immediate effect. FIU director-general Tichafa Chigaba said: “As… Continue reading RBZ Freezes Transerve, Halsted, Enbee Stores Accounts For Money Laundering
New Monetary Policy: Tell Tale Signs That The Zimbabwean Economy Is In Shambles? (breaking down Monetary Policy 2022)
Zim economy The current state of the Zimbabwean economy is no secret. From an almost inexplicable 1:1 bond note to USD exchange rate to 200:1 +, this is just one of the tell tale signs of an unstable economy. A couple of moves have been made by the government and looking back, its now adding… Continue reading New Monetary Policy: Tell Tale Signs That The Zimbabwean Economy Is In Shambles? (breaking down Monetary Policy 2022)
RBZ Implements New Measures To Ensure You Can’t Transact As Much Cash As You Might Need
With the high, almost unpredictable fluctuations of the Zim Dollar to USD, the money in our banks is decreasing more and more in value. So this means that you might just need to make transactions and withdrawals of larger amounts to be able to acquire the same things you did before. However, the new measures… Continue reading RBZ Implements New Measures To Ensure You Can’t Transact As Much Cash As You Might Need
Breaking: Ordinary Zimbabweans can now buy Forex at Bank Rate, RBZ Announces
Great news for ordinary Zimbabweans. The central bank has announced that it will now allow individuals to be able to purchase small amounts of forex from bureaux de change at the auction rate. These news comes after the nation received close to a million dollars from the IMF. Up to now this privilege was only… Continue reading Breaking: Ordinary Zimbabweans can now buy Forex at Bank Rate, RBZ Announces
Here’s why the new ZW$50 was made and is already in circulation
The Reserve Bank of Zimbabwe has come under fire for various issues lately. For starters Statutory Instrument 127 (SI127) caused an outroar amongst business owners. This instrument was deemed as punishment for the abuse of the foreign exchange auction by the 18 companies that were later exposed. Instead of addressing these pressing issues, Governor John… Continue reading Here’s why the new ZW$50 was made and is already in circulation
RBZ releases press statement: We’re not happy with the two people hugging on our floor! (pics inside)
The Reserve Bank of Zimbabwe has addressed a very pressing issue, in their opinion, in a recent press statement. The issue was taken up to the director of RBZ himself,John Mangudya, who elegantly signed the press statement. An image was circulating on social media yesterday. Two individuals were caught hugging by the RBZ “high-definition CCTV”… Continue reading RBZ releases press statement: We’re not happy with the two people hugging on our floor! (pics inside)
RBZ exposes 18 companies that have been abusing the foreign exchange system
The RBZ launched the foreign exchange system on the 23th of June 2020. It is still in function to this day. The system’s main aim is to minimise the impact of foreign exchange rates on businesses. Some businesses were able to minimise losses by up to $5.5 million since they began using the foreign exchange… Continue reading RBZ exposes 18 companies that have been abusing the foreign exchange system
Good news for Small to Medium Enterprises as RBZ approves $500 million loan facility
Christmas seems to have come early for Small to Medium Enterprises. Many such businesses suffered as a result of economic challenges instigated by the Covid-19 situation. In order to help out with that situation, the RBZ has approved a $500 million loan facility. This move by the RBZ was made in a bid to stimulate… Continue reading Good news for Small to Medium Enterprises as RBZ approves $500 million loan facility
Magaisa critics the RBZ Forex Auction beneficiaries list. Are we being sold a dummy?
The RBZ released a report that revealed the beneficiaries of the RBZ Forex Auction. As expected the report was met with much criticism. Alex T Magaisa, ‘former adviser of a PM OF Zimbabwe and to the constitution making team,’ shared the following remarks: “The Reserve Bank Of Zimbabwe announced a list of what it called… Continue reading Magaisa critics the RBZ Forex Auction beneficiaries list. Are we being sold a dummy?
Wondering who is benefiting from the RBZ Forex Auction? Here’s a list.
The RBZ Foreign Auction is a system that came into play starting on June 23 2020. This system serves the purpose of improving transparency and efficiency in trading of forex in Zimbabwe. To prove the effectiveness of this system, Zimplats managed to use it to reduce foreign exchange losses by a staggering $5.5 million. However,… Continue reading Wondering who is benefiting from the RBZ Forex Auction? Here’s a list.
The surprising story of Zimplats and US$5,5 million
Zimplats, a unit of Impala Platinum Holdings has reported some very noteworthy news relating to their use of foreign currency. During the half year ended December 31, 2020, Zimplats was able to reduce foreign exchange losses by an impressive US$5,5 million. Before we dive into how they were able to do that, we’ll take a… Continue reading The surprising story of Zimplats and US$5,5 million
We need a weak currency to stimulate the productive sector – Eddie Cross
The Aftermath Shortly after the Government was sworn in August 2018, they agreed to an economic and monetary reform program. Since then much of this ambitious plan has been implemented and the consequences have been a sharp deterioration in living standards and disposable incomes. What has been already carried out? First they had to deal… Continue reading We need a weak currency to stimulate the productive sector – Eddie Cross
RBZ suspends ‘Cash Barons’ implicated by Acie Lumumba
The Reserve Bank of Zimbabwe Governor, John Panonetsa Mandudya has suspended 4 senior officials who were implicated by Acie Lumumba to be behind corrupt activities at the central bank. The 4 officials, namely Mirirai Chiremba, Norman Mataruka, Gresham Muradzikwa and Azvinandawa Saburi have with immediate effect been suspended indefinitely, and the public will be advised… Continue reading RBZ suspends ‘Cash Barons’ implicated by Acie Lumumba
DOWNLOAD: Monetary Policy Statement Issued on 1 October 2018 by Dr John Mangudya (PDF)
Dr John Mangudya, Governor of the Reserve Bank of Zimbabwe delivered his monetory policy statement for 2018. Issued on the 1st of October 2018. You can download the PDF below: DOWNLOAD 2018 Monetary Policy Statement