The Confederation of Zimbabwe Industries (CZI), the country’s largest and most influential business grouping, says the recently introduced interbank forex market has not performed up to expectations. CZI, in their response to the...
Results just released by Old Mutual Limited, South Africa’s number two insurer and the holding company of Old Mutual Zimbabwe, show the impact of Zimbabwe’s currency reforms on the accounts of companies operating in the country.
With foreign currency on the new interbank market still a trickle, the Reserve Bank of Zimbabwe is pushing companies in the productive sectors to the front of the queue of forex buyers. A directive issued...
Finance Minister Mthuli Ncube says government is staying out of the newly launched interbank market and will only intervene to deal with any volatility.  After a second day of foreign currency trading on Tuesday,...
Zimbabwe’s new currency will be backed up with fiscal discipline, Finance Minister Mthuli Ncube says, adding that the government would allow the RTGS dollar to fluctuate but would manage excessive volatility. Ncube spoke as...
Business people and economists welcomed last week’s decision to abandon an unrealistic dollar peg for the country’s surrogate bond notes and electronic dollars, which were merged into a new currency called the Real Time Gross Settlement (RTGS)...
By Godfrey Marawanyika Zimbabwe’s central bank is considering devaluing its quasi-currency as part of a raft of reforms to the nation’s foreign-exchange system, according to a central bank official. Depreciating...
The amount of foreign currency held by the banking sector jumped 38% between September and November 2018, reaching near two-year highs following a central bank directive to separate forex accounts from bond note and electronic deposits, official...
During a December 20, 2018 appearance before a parliamentary committee, central bank governor John Mangudya was asked if it was sustainable for government to continue subsidising fuel. Why not let all fuel retailers sell in forex?, one...
Government must urgently end its exchange rate fiction and implement currency reforms to avert imminent economic implosion, leading asset manager Imara has said in a searing note to investors. Imara says President Emmerson Mnangagwa’s...
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