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No Plans To Introduce $100, $200 Banknote: RBZ Refutes Reports The Reserve Bank of Zimbabwe (RBZ) has denied media reports that it is working on introducing a $100 and $200 banknote. The central bank through its governor John Panonetsa Mangudya, however, conceded that it is working on introducing a $50 banknote. In a statement on …
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RBZ Issues A Statement Against Businesses That Refuse Torn US Dollar Notes RBZ Issues A Statement Against Businesses That Refuse Torn US Dollar Notes Zimbabwe’s central bank has issued a statement against persons and businesses that have been in the habit of refusing worn and old U.S dollar notes in the country. So deep had …
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Mnangagwa Says EcoCash Was Sabotaging The Economy President Emmerson Mnangagwa has attacked the country’s biggest mobile money company Ecocash, accusing it of sabotaging the economy and causing the country’s runaway inflation. According to the President, EcoCash was creating billions of dollars of phantom money, which was prompting the country’s inflation to skyrocket. He …
RBZ Bans All Agent Lines Permanently Mobile money agents are now officially a thing of the past after the Reserve Bank of Zimbabwe (RBZ) banned all agent lines permanently. This means that EcoCash, OneMoney, and Telecash agent lines are no longer operational. This was announced by the central bank during today’s Monetary Policy Statement. …
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RBZ Designates ZimSwitch As National Payment Switch The country’s biggest mobile money company EcoCash Zimbabwe has been dealt a huge blow by the Reserve Bank of Zimbabwe (RBZ) after the central bank designated ZimSwitch as the National Payment Switch. This means that all mobile money transactions will now have to go through ZimSwitch. According …
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Zimbabwe Official Exchange Rate Jumps To Z$63.7 The official foreign exchange rate for the United States Dollar (USD) to the Zimbabwe Dollar has now moved to US$1: ZWL$63.74. This comes after the country held the second edition of the Reserve Bank of Zimbabwe’s forex auction system. The inaugural edition of the forex auction system …
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Ecocash Responds To Govt Ban Ecocash Responds To Govt Ban In a follow up to a Government directive banning all mobile money transfers, EcoCash has told customers to ignore the ban and continue using the transfer. In what promises to be a clash of giants, EcoCash also urged its customers to remain calm. In …
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EcoCash Disregards Ban EcoCash Is A Ponzi Scheme: RBZ In a follow up to a Government directive banning all mobile money transfers, EcoCash has told customers to ignore the ban and continue using the transfer. In what promises to be a clash of giants, EcoCash also urged its customers to remain calm. In a statement …
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RBZ Speaks On Rejection Of Zimbabwe Dollars The Reserve Bank of Zimbabwe (RBZ) has released a statement about the legal money tenders in the country. This comes after numerous reports confirmed that some business entities and individuals are now rejecting all coins as well as the $2 banknote. In a few extreme cases, some …
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RBZ Limits Bank Transfers The Reserve Bank of Zimbabwe (RBZ) has directed banks to limit internal bank transfers to cripple the foreign currency black market. The central bank’s Financial Intelligence Unit (FIU) today directed all banks to limit internal transfers to a maximum of just 2 per customer per day. iHarare has noted that …
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