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

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 […]

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 […]

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

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 […]

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