EcoCash Is A Ponzi Scheme Which Is Devaluing The Zim Dollar: RBZ Fires Back At Lawsuit

EcoCash Is A Ponzi Scheme: RBZ EcoCash Is A Ponzi Scheme: RBZ   The Reserve Bank of Zimbabwe (RBZ) has labelled EcoCash a Ponzi Scheme which is accelerating the black market exchange rate and devaluing the Zimbabwe Dollar. The RBZ sensationally claimed that EcoCash has agents who have a massive overdraft on their Ecocash accounts […]

Zimbabwe Freezes Accounts Handling Over $2 000 Per Month

Zimbabwe Freezes Accounts  Zimbabwe Freezes Accounts   The Reserve Bank of Zimbabwe (RBZ) has issued a directive ordering mobile money companies to freeze all accounts which transact over ZWL$100 000 per month. This figure translates to about US$2 000 per month using the black market rates. The central bank is alleging that some of these […]

RBZ Speaks On LEAKED Document Which Speaks Of Using US Dollar And De-Dollarising Over 5-Year Period

RBZ Speaks On LEAKED Internal Document   The Reserve Bank of Zimbabwe (RBZ) has finally spoken out over an internal document which was leaked to the media. The document in question outlined plans on how the country would continue to use the United States Dollar (USD) for some local transactions and how the currency would […]

WATCH LIVE: Mthuli And Mangudya’s Presser As Forex Rates Shoot Up On Black Market

Mthuli And Mangudya’s Presser As Forex Rates Shoot Up   Minister Of Finance and Economic Development Professor Mthuli Ncube and Reserve Bank of Zimbabwe (RBZ) governor John Panonetsa Mangudya held a press briefing where they announced the measures that they are going to take to stabilise the local Zimbabwe Dollar. The press briefing came after […]

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 […]