How Much A Farmworker Earns In Zimbabwe Unions representing farmworkers and other workers employed in the agricultural sector have agreed to new minimum wages after negotiations with unions representing farmers in the country. The new minimum wages which were agreed on 22 May 2020, are effective from 1 May 2020. According to the Collective Bargaining […]
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Price Of Sugar Shoots Up As Shortages Hit Market | JUST IN
Price Of Sugar Shoots Up Zimbabweans will be dismayed to learn that the price of sugar has gone up. This comes after the last couple of weeks which were marked by a severe shortage of sugar on the market. Sugar was largely unavailable in most supermarkets around Harare. iHarare noted that the few shops that […]
With The New ZWL $10 Banknote Worth Just US$0.25, Is RBZ Serious?
Is RBZ Serious? | Terence Zimwara The Reserve Bank of Zimbabwe (RBZ) last week came through with its promise to issue higher denominated banknotes, with the first of these, the ZWL$10, coming into circulation on last Tuesday. This follows a statutory instrument issued a week earlier which gave effect to the new banknotes. The […]
EcoCash Boss Natalie Jabangwe Being Charged Under Money Laundering Act For Fuelling Black Market
EcoCash Boss Natalie Jabangwe Being Charged EcoCash Boss Natalie Jabangwe (Image Credit: Thrive Global) The Reserve Bank of Zimbabwe (RBZ) is charging EcoCash bosses under the Money Laundering Act for allegedly fueling illegal foreign currency dealings on the black market. The Financial Intelligence Unit is charging EcoCash CEO Natalie Jabange and EcoCash Director Eddie […]
RBZ Puts Even More Restrictions On EcoCash In Effort To Stop Illegal Forex Dealings
RBZ Puts More Restrictions On EcoCash The Reserve Bank of Zimbabwe (RBZ) has put even more restrictions against the country’s biggest mobile money company EcoCash in an effort to stop illegal foreign currency dealings. The Zimbabwe Dollar has been deteriorating rapidly and the central bank blames EcoCash for the collapse. The Central Bank’s Financial Intelligence […]
Kombis To Go For Good: Government Says Private Kombis Will Remain BANNED Even After Lockdown
Private Kombis Will Remain BANNED The government has dealt a huge blow to commuter omnibuses, Kombis in local parlance, after announcing that they will not be allowed back on the roads. According to the government, the kombis will remain banned even after the lockdown has ended because the government wants to bring sanity to […]
Mthuli Ncube To Fight High Court Ruling That Invalidated Conversion Of USD Balances Into RTGS
Mthuli Ncube To Fight High Court Ruling Mthuli Ncube To Fight High Court Ruling Minister of Finance and Economic Development Mthuli Ncube has said that the government will fight the High Court judgement which ruled that the conversion of USD bank balances to RGTS was invalid. High Court judge Justice Zhou ruled that the […]
PICS: Here Is How The New $10 And $20 Banknotes Will Look Like
How The New $10 And $20 Banknotes Will Look Like The Reserve Bank of Zimbabwe has announced that it will be releasing the new $10 banknote next week. The $10 note will go into circulation on Tuesday, May 19, while the $20 note will go into circulation in the first week of June. The central […]
Ecocash Directive: RBZ’s Last Hail Mary
RBZ’s Last Hail Mary | Terence Zimwara The recent decision by Reserve Bank of Zimbabwe (RBZ) to clampdown on Cassava Smartech’s Ecocash mobile money service through another directive marks the second time in less than a year the former has made such a desperate move. This time there are even bizarre allegations that the […]
Breaking News: High Court Says USD Debts Must Be Paid In USD
High Court Says USD Debts Must Be Paid In USD In a potentially far-reaching judgment, the High Court has declared INVALID the RBZ Exchange Control Directive No. R120/2018. The directive which created FCA “nostro” accounts (as distinct from “RTGS” accounts) was declared unconstitutional on the grounds that it’s irrational to change the currency […]