BREAKING: Zimbabwe In Shocking Fuel Price Hike

Zimbabwe In Shocking Fuel Price Hike

Fuel Queue After Fuel Price Increase
Fuel Increase

 

The Zimbabwe Energy Regulatory Authority (ZERA) has approved an increase in the price of fuel after the government increased the amount of exercise duty.  The new fuel prices are effective Sunday, 5 April 2020.

Diesel has now gone up to ZWL $21.52 from ZWL$18.66  per litre while Blended Petrol has gone up to ZWL$21.77 per litre from ZWL$18.70

The new prices of fuel translate to US$0.20 (11 cents) per litre of diesel and US$0.12 (12 cents) per litre of blended petrol using the government-mandated foreign exchange rate of ZWL$25 for every United States Dollar (USD).

However, using the ubiquitous black market rates which are more widely used by the generality of the population, this translates to US$0.07 ( 7 cents) per litre of diesel and US$0.08 ( 8 cents) per litre of blended petrol.

Elsewhere, the global economic slowdown due to the novel coronavirus has seen fuel prices tumble. In South Africa, the decrease in prices of fuel has not been limited to just petrol and diesel but has been extended to LP gas and illuminating paraffin.

Just last week, the price of decreased by between R1.76 (for 93) and R1.88 (for 95) per litre on, when the April adjustments in the regulated price came into force in South Africa.

The price of illuminating paraffin dropped even more than LP gas month-on-month, by 22% to R8.41 per litre until at least 5 May, when the next price adjustment is due.

That is in part due to a price war between Saudi Arabia and Russia, as demand for their oil plummeted amid airline shutdowns and a decrease in manufacturing in many industries reliant on oil and energy, as the heating-oil-hungry northern hemisphere moves into summer.

Below is the full statement from ZERA which iHarare is publishing in its entirety.

 

 

[Official Foreign Currency Exchange Rate: US$1 = 25 Zimbabwe Dollars, Black Market Rate: US$1 = 40 Zimbabwe Dollars]

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    Here Is The Full List Of Zimbabwe’s Bank/ZIPIT USSD Codes For Online Banking

    Here Is The Full List Of Zimbabwe's Bank/ZIPIT USSD Codes For Online Banking

    Full List Of Zimbabwe’s Bank/ZIPIT USSD Codes

     

    Due to the ongoing 21-day mandatory national lockdown which was instituted to curb the spread of the coronavirus (covid-19) pandemic,  most people are currently unable to access their banks. The government has directed that all banks, bureaux de changes and other financial institutions should be closed for the duration of the national lockdown and should only be opened “in exceptional cases of emergency”.

    The government also ordered financial institutions to ensure that customers have “uninterrupted access to online banking and payment services” in an attempt to promote social distancing and limit the spread of the coronavirus.

    In a circular to banks, microfinance institutions and payment services providers, the Reserve Bank of Zimbabwe (RBZ) said,

     

    1. Following the announcement by His Excellency, the President, of a 21-day lockdown effective 30 March 2020, all banks, microfinance institutions and payment service providers will be required to provide limited essential services as follows:

    a) Providing uninterrupted access to online banking and payment services, including point of sale, international transactions, RIGS, mobile banking, mobile money payments and remittance services, to promote crowd containment and social distancing… 

    …2. For the avoidance of doubt, bank branches, agencies, banking halls and bureaux de change will be closed. However, arrangements may be made, in exceptional cases of emergency, to physically visit a bank.

    However, since the nationwide lockdown started on Monday, iHarare has been receiving calls and e-mails from some people who are no sure about the ZIPIT USSD codes for their banks. iHarare has since compiled a list of the USSD codes for Zimbabwe’s banks as of April 2020.

     

    Here Is The Full List Of Zimbabwe's Bank/ZIPIT USSD Codes For Online Banking

    Full List Of Zimbabwe’s Bank/ZIPIT USSD Codes

    Below is the full list of bank USSD codes in alphabetical order:

    • Agribank *277#
    • BancABC *242#
    • Barclays *229#
    • CABS *227#
    • CBZ *230#
    • Ecobank *245#
    • FBC Bank *220#
    • MBCA *299#
    • Meikles MyCash *212#
    • Metbank *234#
    • NBS *202#
    • NMB *240#
    • OneMoney *111#
    • POSB (Econet) *223#
    • POSB (Telecel & Netone) *222#
    • Stanbic *247#
    • Standard Chartered Bank *200#
    • Steward *210#
    • Telecash *888#
    • ZB Bank *400*600#

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    SHOCKING: Prices Go Haywire As Greedy Retailers Take Advantage of Lockdown

    Prices Go Haywire As Greedy Retailers Take Advantage of Lockdown

     

    In a sad development, prices have skyrocketed as some retailers have taken advantage of the 21-day national lockdown to increase prices and profiteer at the expense of the masses. The lockdown which was declared by President Emmerson Mnangagwa last Friday to curb the spread of the coronavirus is currently on its third day.

    Security forces have been deployed to enforce the lockdown and some people have actually been arrested for defying the lockdown. Even though shopping for essentials is allowed under the law, many people are wary about going out following reports of abuses by law enforcement personnel.

    This has seen some retailers seeking to cash in on the desperate customers who did not have sufficient cash to stock up for the lockdown. Barely 12 hours after the lockdown was announced, some retailers had already adjusted their prices to cash in on people who were desperate to get enough supplies to last the lockdown.

    However, some have gone a step further and increased their prices even further to take advantage of the people who were unable to or who could not afford to buy groceries in sufficient quantities to last them till the lockdown.

    A disgruntled customer shared a receipt, which shows some of these outrageous prices, on social media. According to the receipt of the goods bought at Spar Express in Avondale, Harare, cooking oil is now going for an outrageous $300 for 2 Litres. This price is almost a 100 percent increase from the price that was obtaining less than a week ago. Mazoe Orange Crush cordial is going for an eye-popping $300 for 2 Litres. Before President Emmerson Mnangagwa announced the 21-day lockdown, Mazoe Orange Crush was going for well below $150 for the 2 Litre container.

    Take a look at the prices below:

     

    Consumer protection watchdog, the Consumer Council of Zimbabwe (CCZ)has decried the prices increases calling them unconscionable. The CCZ called on the government to protect vulnerable consumers from the greedy retailers. Writing on social media, the Consumer Council of Zimbabwe said,

    We are receiving reports from our network around the country of big increases in prices of food #COVID19 2lts cooking oil $Z117-150, 2kg brown sugar $195, pocket of potatoes $Z300-500, bread $Z30. It is unconscionable to increase prices of food at this time.

    We ask Government to step in and protect vulnerable Consumers whose pockets are overburdened as it and also trying to cope with the lockdown,

    The whole world, including Zimbabwe, have been gripped with the Coronavirus. It’s new to all of us and one of the best ways to keep yourself safe is to stay informed.

    Consider sharing this link with your friends and relatives on WhatsApp so that they can not only be informed, but they can know how to stay safe: wa.me/263718636522?text=Corona

    Stay safe, stay home


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    Here Is How You Can Buy Groceries Online Using WhatsApp, Get Them Delivered To Your Home

    How You Can Buy Groceries Online Using WhatsApp

    How You Can Buy Groceries Online Using WhatsApp

     

    How You Can Buy Groceries Online Using WhatsApp
    How You Can Buy Groceries Online Using WhatsApp

    The coronavirus pandemic is wreaking havoc across many people’s lives, as people try to listen to the authorities and stay home whenever possible. However, many people have been asking about how they will be able to buy their groceries without living the comfort of their homes. Well, Gain Cash & Cash has introduced a service which allows you to buy groceries online using WhatsApp and have your shopping delivered to your home.

    Gain Cash & Carry has introduced two separate services to cater for locally based Zimbabweans and those in the diaspora who need to buy groceries for their loved ones. Gain Cash & Carry has set up a series of dedicated WhatsApp lines through which interested customers can get a quotation and order their groceries.

    In order to buy groceries online using WhatsApp, follow the steps below:

    1. Send grocery list and physical address on WhatsApp. The WhatsApp numbers for the different cities are as below:

    Harare – 0731 662 133 & 0773 276 568
    Bulawayo – 0777 253 081
    Masvingo – 0778 211 003
    Mutare – 0772 612 816
    Gweru – 0773 218 749

    2. You will receive a quotation which includes the delivery charge. Payment can be made using EcoCash, OneMoney, RTGS transfers or Zipit.

    3. After making the payment, send the address for the point of pickup as well as your personal details like Name, Surname, ID Number and Phone Number to wait for delivery.

     

    For those in the diaspora, here are the steps you need to take.

    1. Send grocery list and physical address on WhatsApp. The WhatsApp numbers for the different cities are as below:

    Harare – +263 731 662 133 & +263 773 276 568
    Bulawayo – +263 777 253 081
    Masvingo – +263 778 211 003
    Mutare – +263 772 612 816
    Gweru – +263 773 218 749

    2. You will receive a quotation which includes the delivery charge.

    3. You then buy a grocery voucher of suitable value on www.zympay.com and you will receive the voucher number.

    4. Send voucher number and the personal details for the recipient. Include Name, Surname, ID Number and Phone Number of recipient to the number above.

    3. Groceries will be delivered within 48 hours.

     

     


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    The whole world, including Zimbabwe, have been gripped with the Coronavirus. It’s new to all of us and one of the best ways to keep yourself safe is to stay informed.

    Consider sharing this link with your friends and relatives on WhatsApp so that they can not only be informed, but they can know how to stay safe: wa.me/263718636522?text=Corona

    Stay safe, stay home


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    The post Here Is How You Can Buy Groceries Online Using WhatsApp, Get Them Delivered To Your Home appeared first on iHarare News.

    BREAKING: RBZ Says You Are Now Allowed To Use The US Dollar Locally

    RBZ Speaks On Devaluing Zimbabwe Dollar

    RBZ Says You Are Now Allowed To Use The US Dollar

    RBZ Speaks On Devaluing Zimbabwe Dollar
    You Are Now Allowed To Use The US Dollar  Says RBZ Governor John Mandudya

     

    The Reserve Bank of Zimbabwe(RBZ) has declared that the United States Dollar can now be used to pay for goods and services in local transactions. This is part of the central bank’s measures to deal with the coronavirus (Covid-19) pandemic.

    iHarare has also learned that the RBZ has suspended the recently introduced managed floating exchange rate and adopted a fixed exchange rate of ZWL$25 to USD1 until the markets stabilise from the effects of Covid-19.  However, the governor said that the measure will be reviewed when things get to normal.

    The government banned the use of foreign currency for local transactions in June last year.

    Below is the full statement from Reserve Bank of Zimbabwe governor John Mangudya.

    INTERVENTIONS IN RESPONSE TO THE FINANCIAL VULNERABILITIES CAUSED BY THE COVID-19 PANDEMIC

    Pursuant to His Excellency, the President’s 23 March 2020 Address to the Nation on additional measures to mitigate the devastating impact of COVID-19 on the Zimbabwean society and the economy, Government, through the Reserve Bank of Zimbabwe ( the Bank ), would like to advise the public that it is making it easier for the transacting public to conduct business during this difficult period by making available an option to use free funds to pay for goods and services chargeable in local currency. This intervention takes into account the country’s limited access to foreign finance, which is adversely affecting the country’s balance of payments position.

    The dispensation to use free funds will not only make payment for goods and services easier but will also promote social distancing as banks will be able to provide digital financial services to their customers that include producers of gold, tobacco and cotton and recipients of diaspora remittances. Digital financial transactions will go a long way in enhancing confidence in the economy and assisting banks to play a critical role as systemic stabilisers of the economy during these unprecedented times.

    Related to the above measures, Government, through the Bank, has suspended the managed floating exchange rate system to provide for greater certainty in the pricing of goods and services in the economy. In its place, the Bank has, with immediate effect, adopted a fixed exchange rate system at the current interbank level of ZW$25 to the US$. This measure will be reviewed when markets stabilise from the effects of COVID-19.

    Further, the Monetary Policy Committee (MPC) of the Bank at its meeting of 24 March 2020, resolved to respond to the needs of the economy in the wake of COVID-19 through the following:

    1. Increasing the Medium Term Bank Accommodation Facility for supporting productive sector activities by an additional ZW$1 billion to ZW$2.5 billion. The additional amount will be targeted at financing the 2020 winter wheat planting programme;

    2. Reducing the Statutory Reserve Ratio from 5% to 4.5% in order to free some funds to the banks to enhance their lending activities;

    3. Reducing the Bank’s Policy rate from 35% to 25% with the expectation that banks will also follow suit and adjust their lending rates to meet the requirements of their customers that are being adversely affected by the pandemic; and

    4. The issuance of the Open Market Operations (OMO) Corporate Bills to enhance the monetary targeting framework that is necessary to support the exchange rate and to stabilise prices in the economy.

    The Bank also agreed with the banking sector to suspend increases in charges related to the provision of all electronic payments during these trying times. Similarly, the Bank is also engaging the mobile network providers to ensure that their mobile banking charges are reduced in order to promote electronic banking which is in line with social distancing.

    Whilst the legal instrument to bring the above measures into effect is being finalised, the Bank urges the transacting public and producers of gold, tobacco and cotton to fully embrace electronic payment platforms as we fight the spread of COVID-19.

    J P Mangudya
    Governor
    26 March 2020

     

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    US Embassy Arranges Flights For Americans Stuck In Zimbabwe

    The Next Epicenter Of Coronavirus

    US Embassy Arranges Flights For Americans Stuck In Zimbabwe

    US Embassy Arranges Flights For Americans Stuck In Zimbabwe
    The United States Embassy in Harare has arranged flights for its citizens to leave Zimbabwe after noting that the number of commercial airlines which were still flying had gone down drastically, due to the impact of the coronavirus (Covid-19) pandemic.

    In a statement, the United States Department of State said,

    In response to the increasingly limited commercial options for departing Zimbabwe due to the global impact of COVID-19, the U.S. Embassy is coordinating two flights with a commercial airline to depart Zimbabwe on March 27, 2020, with one flying to Chicago, Illinois and the other to Dulles, Virginia (near Washington DC).

    A number of seats on these flights will be available to private U.S. citizens.

    Actions to Take:

    • If you are planning on returning to the United States but have been unable to obtain space on a commercial flight, please contact Consularharare@state.gov with the names of your immediate family members who wish to travel. Please provide contact information including phone, what’s app, and e-mail, and to which city you would prefer to fly.
    • On the evening of March 24, 2020, the Embassy will learn how many seats are available on the flights and will contact the corresponding number of U.S. citizens and their immediate families in the order they appear on the list.
      If you are contacted, you will have 24 hours to contact the airline and pay for your seats.
    • The Embassy will continue this process of contacting those on the list until all seats are sold out.
    • Ensure that your travel documents are valid. If you need to arrange an emergency passport or notarial service, please schedule an appointment.

    Assistance:

    2 Lorraine Drive
    Harare, Zimbabwe
    Tel: +263-867-701-1000
    Emergency +263 -772 559-727
    https://zw.usembassy.gov/

    The United States Embassy followed this up by advising US Citizens that they need to book their flights before 1 PM TODAY, 

    The U.S. Embassy in Zimbabwe is aware of only one airline with one departing flight on Friday, March 27 at Robert Gabriel Mugabe International Airport in Harare. U.S. citizens who are considering returning to the United States are strongly urged to make travel arrangements.

    While flights are still available. FLIGHTS MUST BE RESERVED BY 1PM TODAY – so please send an email to consularharare@state.gov; or message WhatsApp at + 263 782 716 136 with your full name, DOB, and the number of tickets required so we can ask the airline to hold seats.

    You will also need to go to the Ethiopian Airline Office today at 159 Second Street Extension (Golden Stairs) in Harare to pay for the tickets. Tickets that are not paid for today will not be ticketed in time for a Friday flight.

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    Here Are The Airlines That Are Still Flying South Africa, Zimbabwe

    SA Launches Military Mission To Rescue Citizens

    The Airlines That Are Still Flying

    The Airlines That Are Still Flying
    CREDIT: REUTERS/ROGAN WARD

     

     

    As a result of the coronavirus pandemic, many are asking whether the airlines are still flying, particularly between Zimbabwe and South Africa. In the context of the South African lockdown from Friday, 27 March, here are the airlines that are still flying courtesy of BigSky.co.zw.  Unfortunately, iHarare cannot advise on whether there are any cheap flight airlines on the list.

    Fastjet

    Are still flying, but are not taking bookings for South Africa – Zimbabwe flights from 27 March onwards. Fastjet are only accepting Zimbabwe and South African passports holders for flights from Zimbabwe to South Africa, and Zim passport holders from South Africa to Zimbabwe.  For enquiries call 086 7700 6060 (Harare office).

    The Airlines That Are Still Flying

    British Airways/Comair

    Unfortunately, British Airways had limited seats for the Harare – Johannesburg – Harare route for 25 March only, yesterday.  Flights from 26 March are shown as being unavailable.  You can make further enquiries on their website if you need more information  https://www.britishairways.com/

    The Airlines That Are Still Flying

    South African Airways

    South African Airways has suspended all regional and international flights until 31 May 2020.

    The Airlines That Are Still Flying

     

    SA Airlink

    South African Airlink are flying but due to the demand, there are no seats available before the South Africa lockdown will begin on the evening of Thursday 26 March 2020 at 23:59.

    Ethiopian Airlines

    As of Tuesday, 24 March, Ethiopian Airlines was still taking bookings. Potential travellers can visit their website www.ethiopianairlines.com for further updates, however, potential travellers are advised to visit the airline’s new offices in Belgravia (opposite KFC).  It is highly recommended that travellers do not book online, but secure their tickets and obtain first-hand information by visiting the airline offices directly.

     

    The Airlines That Are Still Flying
    The Airlines That Are Still Flying

    Related Articles, 


     

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    Harare Bank Confirms Covid-19 Patient Zororo Makamba Was In Contact With Staff Members

    Bank Speaks on staff's contact with Coronavirus patient

    Bank Speaks on staff’s contact with Coronavirus patient

    Financial services institution BancABC has confirmed in a statement that, Zimbabwe’s second Covid-19 case was in contact with staff members at one of their branches in Mt Pleasant. The patient who was earlier on, only identified by the Health Ministry as a well-travelled 30-year-old male had a meeting at the Mt Pleasant branch on 17 March before testing positive for Coronavirus on the 21 March. More alarmingly, the patient has been identified as Zororo Makamba, the son of James Makamba, who succumbed to Coronavirus this morning at the Wilkins Infectious Diseases Hospital.

    Read the statement below, which iHarare publishes in its entirety.

    BancABC Update on COVID-19 (23 March 2020)

    BancABC Zimbabwe would like to advise all our stakeholders that Patient No 2 (as confirmed by the Ministry of Health) visited our Mount Pleasant Campus on Tuesday 17 March 2020 at 11:30am and had a meeting with four (4) of our staff members for a duration of approximately 15 minutes. The Bank was subsequently advised that the patient had tested positive for COVID-19 on Saturday morning and immediately activated recommended protocols in consultation with the City Health Department.

    Out of the abundance of caution, all employees who interacted with the patient and their contact persons were immediately identified for further management. Whilst none of the affected employees have shown any symptoms, preventative measures which include a 14 Day Self-Quarantine, as per health officials guidelines, have been activated.

    Further, as part of the Atlas Mara Group-Wide COVID-19 prevention measures across all countries, the Bank has already commenced a sanitization exercise of our Head Office and all our branches on an ongoing basis. Additionally, in adherence to recommended social distancing practices, virtual workplace and remote working facilities have been initiated for the majority of our staff.

    Corona Virus is a global pandemic which can potentially affect anyone anywhere. We take the health of our staff & customers very seriously. The Bank remains committed to creating a safe environment for all our stakeholders and has put together necessary interventions and resilient protocols to enable business continuity through this crisis. None of these preventive measures affect our ability to deliver service to our customers on an ongoing basis.

    We would like to encourage all our stakeholders to take this epidemic seriously, to follow the guidelines of Health Officials by practicing good hygiene, engaging in social distancing to limit the risk of infections and to protect each other as responsible private and corporate citizens. We thank you for your custom and solidarity.

    Dr Lance Shingai Mambondiani

    Bank Speaks on staff's contact with Coronavirus patient
    Bank Speaks on staff’s contact with Coronavirus patient
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    Here Are The New EcoCash Transaction Limits After Latest Increase Due To Inflation

    Here Are The New EcoCash Transaction Limits

    New EcoCash Transaction Limits
    New EcoCash Transaction Limits

     

    The country’s biggest mobile money company, Ecocash has increased the transaction limits consumer transactions, as the Zimbabwe dollar continues plummeting against all major currencies. The new EcoCash transaction limits were set after the mobile money company consulted with the Reserve Bank of Zimbabwe (RBZ), the regulator for all financial institutions.

    While the new EcoCash transaction limits are not exactly in line with inflation, they will provide relief for the transacting public, which was now being forced to make multiple transactions when making payments due to the previous limits which had become untenable. The new limits are as below;

    Sending money (peer to peer)

    EcoCash users can now send ZWL$5, 000 per transaction instead of the previous ZWL$1, 000 per transaction.

    Merchant payment

    EcoCash users can now make a payment to a merchant of ZWL$10, 000 per transaction instead of the previous ZWL$3, 000 per transaction.

    Bill payments

    EcoCash users can now make a payment of a bill of ZWL$10, 000 per transaction instead of the previous limit of ZWL$2, 000 per transaction.

    Daily limits

    EcoCash users who are linked to a debit card now have a limit of ZWL$10, 000 per day. This is a 100 percent increase from the previous daily limit of ZWL$5 000.

    Ecocash users with their EcoCash linked to a bank account can transact for up to ZWL$25, 000 per day from the previous limit of ZWL$10, 000 per day.

    EcoCash has also introduced what they term the “Executive Grade” who have a daily limit of ZWL$30, 000 per day. It is not yet clear, what the requirements are for a customer to be in the Executive Grade.

    However, for EcocCash customers who are not linked to a debit card or a bank account, the transaction limits stand at only ZWL$5 000 per day. This is still a 150 percent increase from the previous limit of ZWL$2, 000 per day.

    Monthly limits

    EcoCash users who are linked to a debit card now have a limit of ZWL$35, 000 per month. This is a ZWL$10, 000 increase from the previous monthly limit of ZWL$25, 000.

    Ecocash users with their EcoCash linked to a bank account can transact for up to a massive ZWL$150, 000 per month from the previous limit of ZWL$50, 000 per month.

    Those in the Executive Grade have a monthly limit of ZWL$250, 00o.

    However, for EcocCash customers who are not linked to a debit card or a bank account, the transaction limits stand at only ZWL$20 000 per month. This is still a 100 percent increase from the previous limit of ZWL$10, 000 per month.

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    Zimbabwe Suspends Fungibility Of Shares To Control Exchange

    Mthuli Ncube

    Zimbabwe Suspends Fungibility Of Shares

    Zimbabwe Suspends Fungibility Of Shares To Control Exchange Rate
    Mthuli Ncube, Zimbabwe’s finance minister, suspends fungibility of shares  [Photographer: Cynthia R Matonhodze/Bloomberg]

    Minister of Finance and Economic Development Mthuli Ncube has suspended the fungibility of dual-listed shares in an effort to control Zimbabwe’s exchange rate which has been skyrocketing out of control of late. The suspension of the fungibility of the shares will last for a period of twelve months.

    This was announced through a General Notice in an extraordinary Government Gazette released published on Sunday 15 March 2020. The suspension of fungibility applies to Old Mutual, PPC and Seedco International.

    According to Zimbollar, fungibility refers to

    If Company A is listed on more than one stock exchanges, shareholders are able to transfer shares across the stock exchanges in which it is listed. The process assumes that the share should have one price across(Law of One price or Purchasing Power Parity)

    However, due to exchange rate disparities, investors can make an arbitrage (riskless) profit by buying and selling the same share across different stock exchanges.

    This means that investors will no longer be able to transfer the shares of these countries across stock exchanges. In the past, investors could repatriate earnings by buying shares on the ZSE and selling them abroad.

    The prices of the shares of Old Mutual on the London Stock Exchange (LSE) and on the Zimbabwe Stock Exchange (ZSE) also allowed investors to get an approximation of the true exchange rate through the use of the Old Mutual Implied Rate (OMIR).

    The move seems to be an attempt to smother the Old Mutual Implied Rate.

    A source who spoke to online publication, The Anchor, explained

    “We are determined to control month on month inflation and contain it within a lower single digits levels of and in fact we may wish to see it turn negative in the next month or two and we will, therefore, sustain the policy momentum.”

    “This measure is one of many measures we are now determined to implement to bring lasting stability to the currency.”

    Zimbabwe Suspends Fungibility of shares

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