What did Patrick Chinamasa mean when he said ZANU PF had endorsed a decision to “eject Old Mutual from the financial system"? Nobody knows. Not even Old Mutual itself. In a statement on Sunday, Old Mutual said it was “seeking...
The Monetary Policy Committee (MPC) has raised the main policy rate from 15% to 35% and introduced new short term bonds, in a fresh bid to curb rising inflation. However, rates remain negative, relative to annual inflation of 785.55% in...
Prospect Resources says it will miss its deadline to reach a petalite offtake agreement with Belgium’s Sibelco, one of the world’s largest glass-ceramic manufacturers. In April, the two companies signed an MoU to work on a possible offtake agreement for...
Stockbrokers in Zimbabwe are struggling to explain to investors after the government shut down the stock exchange. The Zimbabwe Stock Exchange announced Sunday it was suspending trade to comply with a directive issued by the Information Ministry late Friday that...
While authorities are pointing to “saboteurs” for driving up inflation and weakening the currency, latest Reserve Bank of Zimbabwe data is pointing elsewhere – to RBZ itself. According to central bank’s latest report on money supply, reserve money – the...
Zimbabwe’s raw milk production in the first five months to May fell by 3% as successive droughts hit stock feed, official data shows. Milk production in the country was on a steady increase since 2009, but successive droughts have stifled...
The Zimbabwe government’s 2018 directive to separate local and foreign currency bank balances was unconstitutional and a violation of property rights, a High Court judge has ruled. In a ruling that sharply criticised the...
Caledonia Mining Corporation’s Blanket mine produced 14,233 ounces of gold in the first three months of 2020, a 19% increase on last year’s corresponding quarter. The Q1 output follows a record-breaking final quarter of...
Zimbabweans will once again be able to use US dollars to pay for goods and services, the RBZ announced on Thursday, nine months after the government banned the use of foreign currencies for most local transactions.
Zimbabwe will adopt a “managed float” exchange rate regime, Finance Minister Mthuli Ncube said on Wednesday, abandoning strict control of foreign exchange by the central bank in the latest in a series of currency reforms that have...
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