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Gideon Gono's stature abused in scam
IT HAS emerged that imposters are abusing the name of former Reserve Bank of Zimbabwe governor, Gideon Gono, to scam unsuspecting people.Gono told the Daily News yesterday that a number of peo...Published: 10 hrs ago | 1163 | by Staff reporter
Firms evade remitting forex taxes
THE Zimbabwe Revenue Authority (Zimra) says it has detected a string of scams in which some companies charging for goods and services in foreign currency have evaded paying taxes in forex.This...Published: 19 hrs ago | 617 | by Staff reporter
RBZ orders Zimbabwe banks to give forex
Reserve Bank of Zimbabwe (RBZ) governor John Mangudya has ordered banks to settle transactions outside the public glare as he cracks the whip on the sector amid revelations some banks were refusing cl...Published: 03 Dec 2020 at 07:06hrs | 8641 | by Staff reporter
Mthuli Ncube ordered to disclose foreign debts by High Court
THE High Court has ordered Finance minister Mthuli Ncube to publish details of all loans and guarantees incurred by government from January 2017 to December 1, 2020 with the African Export–Import Ba...Published: 03 Dec 2020 at 06:39hrs | 1302 | by Staff reporter
Lawyer up for theft of motor vehicle
A GURUVE-BASED lawyer Nancy Mabhoyi (37) of Mabhoyi and Associates has been summoned to Bindura magistrates' courts to answer a case of motor vehicle theft.Mabhoyi is set to appear in court on...Published: 03 Dec 2020 at 06:36hrs | 630 | by Staff reporter
Mangudya warns money launderers
THE governor of the Reserve Bank of Zimbabwe (RBZ), John Mangudya, says authorities will step up the current crack down on individuals and companies that are moving large but unexplained sums of money...Published: 02 Dec 2020 at 06:35hrs | 2319 | by Staff reporter
Zimbabwe scores high on debt management transparency
Zimbabwe has reasonably high ratings in the region in terms of debt management transparency according to the Open Budget Index (OBI). A country's budget transparency score, reflected on the OB...Published: 02 Dec 2020 at 06:14hrs | 99 | by Staff reporter
EcoCash revenue continues to dwindle
CASSAVA Smartech Zimbabwe Limited's subsidiary EcoCash's revenue contributions to the group continue to dwindle following recent operating measures effected by the Reserve Bank of Zimbabwe (RBZ) to cu...Published: 02 Dec 2020 at 06:13hrs | 544 | by Staff reporter
Diaspora remittances up 48% in 10 months, says RBZ
DIASPORA remittances increased by 48 percent to reach US$760 million in the 10 months to October 2020 compared to the same period last year, according to the Reserve Bank of Zimbabwe (RBZ).The...Published: 30 Nov 2020 at 19:02hrs | 273 | by Staff reporter
RBZ swoops on foreign entities
THE Reserve Bank of Zimbabwe (RBZ) has launched an investigation into the conduct of at least 15 foreign-owned companies, which have allegedly externalised millions of United States dollars, according...Published: 27 Nov 2020 at 07:07hrs | 4354 | by Staff reporter
RBZ to regulate cryptocurrencies
The Reserve Bank of Zimbabwe is working on a regulatory framework for cryptocurrency trading platforms operating in the country. Governor John Mangudya said that the central bank was not again...Published: 26 Nov 2020 at 07:56hrs | 4607 | by Staff reporter
RBZ ropes in banks to clear forex backlog
The Reserve Bank of Zimbabwe has approached local banks to help clear a two-week backlog of unpaid importers invoices amid indications that the auction is struggling to keep up with demand for foreign...Published: 26 Nov 2020 at 07:48hrs | 2768 | by Staff reporter
2021 budget: Fitting a round peg in a square hole
THE 2021 national budget due to be presented this afternoon presents one of the toughest challenges for Finance minister, Mthuli Ncube.He is expected to roll out strategies that will help the ...Published: 26 Nov 2020 at 07:27hrs | 399 | by Staff reporter
Treasury orders refunds for exempted 2% tax transactions
Treasury has widened exemption on selected foreign currency denominated transactions from the two percent tax in response to submissions by stakeholders. Those considered would now be refunded...Published: 26 Nov 2020 at 07:11hrs | 416 | by Staff reporter
Biti says RBZ forex auction system headed for collapse
FORMER Finance Minister and legislator Tendai Biti has dismissed the Reserve Bank of Zimbabwe (RBZ) foreign currency auction system as a charade that is set implode once all economic fundamentals begi...Published: 26 Nov 2020 at 07:06hrs | 1737 | by Staff reporter
Zim dollar continues to firm against the greenback
The Zimbabwe dollar continues to firm against the greenback despite a marginal loss at this Tuesday's RBZ forex Auction after moving from 81.71 to 81.82 per one United States Dollar.A total of...Published: 24 Nov 2020 at 19:14hrs | 2036 | by Staff Reporter
Firms hail forex auction system
ZIMBABWE'S biggest companies have hailed central bank governor, John Mangudya's foreign currency auction system for defusing a forex crisis that had affected production in the past year.The Re...Published: 20 Nov 2020 at 06:08hrs | 286 | by Staff reporter
Chiwenga on NDS1
THE National Development Strategy 1 (NDS1) has the potential to spur Zimbabwe's quest to grow its economy to Upper Middle-Income earning status by 2030 and its launch shows that the vision is not far-...Published: 17 Nov 2020 at 07:37hrs | 1609 | by Staff Reporter
Govt to take over fresh RBZ debt
The Reserve Bank of Zimbabwe (RBZ) is set to transfer several billions of the debt it holds to the Ministry of Finance and Economic Development after completing a debt consolidation exercise. ...Published: 13 Nov 2020 at 07:49hrs | 2526 | by Staff reporter
Zimdollar continues fine run
The Zimbabwe dollar saw its smallest move since the start of the auction system yesterday, easing one ten thousandth of one percent and effectively remaining unchanged at $81,67 to the United States d...Published: 11 Nov 2020 at 05:30hrs | 1218 | by Staff reporter
RBZ forex auction allotments to industry reach highest ever at US$32 million
RESERVE Bank of Zimbabwe Tuesday allotted a total US$31.7 million to industry, becoming the highest amount to be availed since the launch of the auction system in June this year.The auction la...Published: 10 Nov 2020 at 19:44hrs | 1680 | by Staff reporter
Non-monetary incentives the way to go
The face-off between government and its workers over salaries has protracted to a magnitude that it's now threatening the realisation of the national vision.The new political dispensation comm...Published: 10 Nov 2020 at 15:20hrs | 2029 | by Petros Manyuchwa
US$ small denominations shortages hits consumers
THE Consumer Council of Zimbabwe (CCZ) has approached the central bank seeking solutions to a crippling shortage of smaller denomination notes, which has rocked the market in the past year.Con...Published: 08 Nov 2020 at 07:15hrs | 487 | by Staff reporter
RBZ official in DCC campaigns
Reserve Bank of Zimbabwe employee Kushinga Dutiro has breached his organization code of conduct by contesting in Zanu PF District Coordinating Committee (DCC) elections.The bank's code of cond...Published: 07 Nov 2020 at 17:28hrs | 1375 | by Simbarashe Sithole
Rushwaya gold case opens can of worms
THE dramatic arrest and subsequent prosecution of suspended Zimbabwe Miners Federation (ZMF) president Henrietta Rushwaya has lifted the lid on the cutthroat gold trafficking underworld dominated by t...Published: 06 Nov 2020 at 06:56hrs | 11770 | by Staff reporter
Zimra demands US$7m fuel import duty
DIRECT Fuel Imports Group Zimbabwe (DFIGZ), a grouping of small-scale fuel procurement firms, is seeking a relief order from the High Court that will nullify demands by the Zimbabwe Revenue Authority ...Published: 06 Nov 2020 at 06:55hrs | 986 | by Staff reporter
Matter of fact ...
IN our last edition of the Zimbabwe Independent, we reported that the Reserve Bank of Zimbabwe paid a substantial amount of the US$17,5 million loan owed by the National Oil Infrastructure Company (No...Published: 06 Nov 2020 at 06:53hrs | 195 | by Editor.
Rushwaya arrest: A case of rampant elite corruption?
THE ongoing trial of Henrietta Rushwaya over charges of attempting to smuggle gold bars weighing 6kg to Dubai, the United Arab Emirates, in a high-profile case that has sucked in President Emmerson Mn...Published: 06 Nov 2020 at 06:51hrs | 1113 | by Staff reporter
Govt losing millions as firms evade US dollar tax
THE Zimbabwe government is being cheated of millions of United States dollars in tax revenue by businesses that are accepting foreign currency payments but not declaring or under-declaring the forex p...Published: 06 Nov 2020 at 06:47hrs | 672 | by Staff reporter
Illegal forex dealers feel the pinch
Black market forex dealers are feeling the heat following a raft of monetary measures recently put in place by the central bank to halt the depreciation of the local currency which had fuelled a spike...Published: 05 Nov 2020 at 21:34hrs | 11609 | by Staff reporter
'Price stability to spill into 2021'
ECONOMISTS and captains of industry yesterday predicted a continued stability of prices of goods and services into next year.During a state of the economy report by Africa Economic Development...Published: 05 Nov 2020 at 19:27hrs | 913 | by Staff reporter
Mangudya retains confidence at the Central Bank
From the time Zimbabwe switched from inter-bank market for foreign currency to an auction system, which is largely driven by market. The idea is to determine market exchange rate. The bids come from u...Published: 05 Nov 2020 at 16:02hrs | 2678 | by Tinashe Eric Muzamhindo
I picked wrong bag, says Rushwaya
HENRIETTA Rushwaya is now stating that she picked up the wrong bag with four gold bars weighing 6kg, instead of a similar bag with her clothes when she went to the airport over a week ago and that her...Published: 04 Nov 2020 at 06:06hrs | 8580 | by Staff reporter
Gold dealer Ali Mohammed disowns Rushwaya
BUSINESS tycoon Ali Muhamad, who has been accused of being at the centre of Monday's attempt to smuggle 6kg of gold by Zimbabwe Miners Federation president Henrietta Rushwaya, yesterday challenged his...Published: 31 Oct 2020 at 06:07hrs | 2665 | by Staff reporter
Mangudya agonises over gold smuggling
RESERVE Bank of Zimbabwe (RBZ) governor John Mangudya has expressed concern over rampant smuggling of gold, warning Zimbabwe could as a result miss its official 25 tonnes production target for the yea...Published: 30 Oct 2020 at 06:38hrs | 5362 | by Staff reporter
RRB controversially pays off NOIC's debt to Tagwirei's Sakunda
Shocking revelations have emerged that the Reserve Bank of Zimbabwe (RBZ) is servicing a US$17,2 million debt owed by the national oil and infrastructure company (NOIC) to Sakunda holdings.NOI...Published: 30 Oct 2020 at 06:36hrs | 1432 | by Staff reporter
Mnangagwa implores business produce more goods at affordable prices
PRESIDENT Emmerson Mnangagwa has implored business to capitalise on the country's stabilising economy and produce more goods at affordable prices for ordinary Zimbabweans.Speaking at the unvei...Published: 29 Oct 2020 at 21:08hrs | 82 | by Staff reporter
Zimdollar weakens against the US dollar
The Zimbabwe dollar moved marginally by less than a third of a Zimbabwean cent, against the US dollar at yesterday's Reserve Bank of Zimbabwe (RBZ) foreign currency auction, trading 0,004 percent high...Published: 28 Oct 2020 at 06:25hrs | 3069 | by Staff reporter
Strict RBZ policies on EcoCash result in $2 billion tax revenue decline
GOVERNMENT'S tough decision to throttle leading mobile money transfer agent, Ecocash has backfired with the Zimbabwe Revenue Authority (ZIMRA) recording a $1.9 billion decline on the 2 % revenue tax c...Published: 27 Oct 2020 at 07:03hrs | 1425 | by Staff reporter
RBZ bouyant over Zimdollar
Reserve Bank of Zimbabwe (RBZ) governor John Mangudya says he is doing everything in his power to maintain a four-month stretch of exchange rate stability achieved since the introduction of the foreig...Published: 25 Oct 2020 at 08:28hrs | 5402 | by Staff reporter
Mnangagwa says 'a brighter future depends on us all'
PRESIDENT Emmerson Mnangagwa yesterday made an impassioned call to all Zimbabweans to set aside their political differences and work together to build the country.At the same time, the 78-year-old...Published: 23 Oct 2020 at 17:13hrs | 551 | by Staff reporter
RBZ debt accumulation above US$2 billion
THE US$2,23 billion debt accumulated by the Reserve Bank of Zimbabwe (RBZ) in the 12 months since July 2019 could be grossly understated, as fresh details emerged this week indicating the central bank...Published: 23 Oct 2020 at 08:41hrs | 828 | by Staff reporter
SAA awaits approval to repatriate blocked funds from Zimbabwe
The airline's rescue practitioners, Les Matuson and Siviwe Dongwana, have already accepted the mining company's offer to pay South African Airways (SAA) in exchange for access to its funds in Zimbabwe...Published: 23 Oct 2020 at 08:33hrs | 1070 | by Staff reporter
Zimdollar remains solid against Trump's dollar
For the second week running, the Zimbabwe dollar was virtually unchanged against the US dollar at the weekly auction, shifting just one two hundreth of one percent to $81,3499 from last week's $81,345...Published: 21 Oct 2020 at 21:44hrs | 332 | by Staff reporter
Punter sues OK Zimbabwe over groceries
LEADING retail chain, OK Zimbabwe has been taken to court by a local punter, who is seeking an order to compel the supermarket to supply him with groceries valued at US$200 every month for life in ter...Published: 16 Oct 2020 at 07:07hrs | 1922 | by Staff reporter
Biti wants teachers to be paid US$520 salaries
Former Finance minister Tendai Biti (Harare East MP MDC Alliance) said government should pay teachers the US$520 salaries they used to get before the re-introduction of the Zimbabwe dollar.Gov...Published: 15 Oct 2020 at 07:27hrs | 4495 | by Staff reporter
Zimbabwe to introduce higher denomination notes
The Reserve Bank of Zimbabwe is expected to introduce higher denomination notes, which will see the amount of physical cash in circulation double to $3 billion. A member of the RBZ's MPC Eddie...Published: 15 Oct 2020 at 07:02hrs | 5764 | by Staff reporter
Civil servants laugh off salary hike
CIVIL SERVANTS yesterday reacted angrily to government's pronouncement that the US$75 monthly COVID-19 allowance would now be enjoined to their salaries and accused the Public Service Commission (PSC)...Published: 15 Oct 2020 at 06:50hrs | 6007 | by Staff reporter
RBZ keeps policy rate at 35%
THE Reserve Bank of Zimbabwe (RBZ) said on Monday its monetary policy committee (MPC) had agreed to maintain the policy rate at 35% as part of measures to keepspeculative borrowing at bay....Published: 15 Oct 2020 at 06:43hrs | 398 | by Staff reporter
Zimbabwe industry demands complete reforms
ZIMBABWE'S industry has proposed a raft of far-reaching reforms to be incorporated in Finance minister Mthuli Ncube's 2021 national budget, including the abolishment of subsidies.In its propos...Published: 15 Oct 2020 at 06:42hrs | 406 | by Staff reporter
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