Zimbabwe economy

The maths behind Ncube’s 2% electronic transaction tax

AFTER his surprise appointment last month, Finance Minister Mthuli Ncube arrived at a Treasury which had just put out a grim first half report showing a $1.34 billion budget...

The Great Bank Robbery: How the Zimbabwe Govt stole from its people

There is a scene in the 1978 classic movie, The Great Train Robbery, which portrays the destructive arrogance of Zimbabwe’s monetary policy over the past two decades. After masterminding a...

RBZ’s new FCA ‘ring-fence’, explained

ON Monday, Reserve Bank of Zimbabwe (RBZ) governor John Mangudya finally put a stop to official pretence that the burgeoning electronic balances in the banks - and the loathed...

IN FULL: Mthuli Ncube’s statement on new fiscal measures

Below is a statement to media by Finance Minister Mthuli Ncube, on fiscal measures taken in an attempt to stabilise the economy. Later this week, Ncube is to release...

Foreign Currency Accounts are back, but your bank balance isn’t USD anymore

Reserve Bank of Zimbabwe has told banks to separate foreign currency accounts (FCAs) from local RTGS balances, a step which reflects the decimation of the value of depositors’ funds. From...

Pie chart: This is how many Colcom pies Zimbos are eating

Here is a number: 39 871 742. Almost 40 million. That’s the total number of Colcom pies that Zimbabweans ate in the year to June this year. This was seven...