South Africa’s PEP Flees Zimbabwe After Making Huge Losses…Cites Ongoing Crisis

PEP Stores

Reuters South African retailer Pepkor Holdings said on Monday it will exit Zimbabwe after an economic crisis in the country hurt its performance. Severe shortages of foreign currency, fuel and electricity have sent inflation soaring to its highest since 2008, and dashed hopes the economy might recover under President Emmerson Mnangagwa, who took over from […]

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LATEST: Fuel Shoots Up Again As ZERA Announces New Prices For The Week

Fuel Queue After Fuel Price Increase

Fuel Shoots Up Again   The Zimbabwe Energy Regulatory Authority (ZERA) has announced yet another increase in the price of fuel effective tomorrow, Monday, 25 November 2019. Diesel has gone up by 16 cents per litre to cost ZWL$17.90 per litre while Blended Petrol has gone up by 37 cents per litre to cost ZWL$17.44 […]

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JUST IN: Fuel Shoots Up Again As ZERA Announces New Prices

The Zimbabwe Energy Regulatory Authority (ZERA) has announced yet another increase in the price of fuel effective Monday, 18 November 2019. Diesel has gone up by 21 cents per litre to cost ZWL$17.74 per litre while Blended Petrol has gone up by 30 cents per litre to cost ZWL$17.07 per litre. This week’s margin of […]

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Special People Don’t Have Cash Withdrawal Limits – Mangudya Speaks On Mega Withdrawals Of $44 000 & $15 000

John Mangudya, RBZ GOvenor

Cash Withdrawal Limits Don’t Apply To Everyone   Reserve Bank of Zimbabwe (RBZ) governor John Panonetsa Mangudya has said that cash withdrawals do not apply to everyone as some have special exceptions. Mangudya’s comments come after outraged Zimbabweans questioned how Ecobank and CBZ allowed certain customers to withdraw $15 000 and $44 000 in cash […]

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CBZ Speaks On $44 000 Withdrawal: Our Hands Are Clean, It Was A Legitimate Withdrawal

CBZ Coins From $44 000 Withdrawal

CBZ Speaks On  $44 000 Withdrawal Local financial institution CBZ seems to be in fire fighting mode after the Reserve Bank of Zimbabwe issued a damning statement alleging that the bank had allowed one customer to withdraw a massive $44 000. This amount is above and beyond the current weekly withdrawal limit of $300 for […]

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“Zim Dollar Will Soon Be Recognised Outside The Country” – RBZ

  The Reserve Bank of Zimbabwe (RBZ) has that it is currently working on measures to ensure that the newly reintroduced Zimbabwe Dollar will be recognised across the whole world. NewsDay reports that RBZ director of research John Mafararikwa told a meeting organised by the Institute of Chartered Accountants of Zimbabwe, We have sent messages … Read full post here

PICS: Cheer For Fast Food Lovers As Prices Get Slashed

Quick service restaurants (QSR) operator Simbisa Brands has decreased the prices of some of its products, following the reintroduction of the Zimbabwe Dollar and the banning of the multicurrency system. Simbisa Brands announced a decrease in prices at Chicken Inn, Pizza Inn, Haefelis, Creamy Inn and Steers. The prices at Bakers Inn have not decreased. … Read full post here

“We Are Only Printing $400m To Increase Paper Money” – Mangudya Allays Fears Of Abuse Of Printing Press

The Reserve Bank of Zimbabwe (RBZ) has reassured the nation that it will not plunge the country back into the hyperinflation era by overprinting money. RBZ governor John Mangudya insisted that the central bank was only going to print $400 million worth of bond notes in order to increase the amount of paper money and … Read full post here