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Zimbabwe To Introduce Smaller Gold Coins The Reserve Bank of Zimbabwe (RBZ) has delivered good news for ordinary Zimbabweans looking to buy gold coins. RBZ governor Dr John Mangudya said gold coins, as small as a tenth of an ounce will go on sale in November. Mangudya said Zimbabwe’s central bank will introduce half ounce, …
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Zimbabweans React To The Introduction Of Gold Coins Image Credit (Nick Mangwana/Twitter) In light of reports that the Reserve Bank of Zimbabwe (RBZ) is set to introduce gold coins, Zimbabweans have taken to social media to share their thoughts on this new development. In a statement on Monday, Governor John Mangudya said the gold …
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Zimbabwe’s Reserve Bank Orders Banks NOT To Lend Money To Anyone, Including Government The Reserve Bank of Zimbabwe has ordered banks and financial institutions in the country not to lend money to anyone, including the government and private individuals. The central bank made the pronouncement following President Emmerson Mnangagwa’s address to the …
RBZ Introduces New $50 Bank Note The Reserve Bank of Zimbabwe has introduced a new $50 banknote, which goes into circulation tomorrow (Wednesday). RBZ Governor John Mangudya confirmed the development in a statement Tuesday. “The Reserve Bank of Zimbabwe (the Bank) wishes to advise the public that the ZW$50 banknote issued on 6 July 2021 …
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 Forex Black Market: How Gvt Can End It How Zimbabwe government can end the forex black market. The Government of Zimbabwe’s fight against the forex black market is akin to straightening the shadow of a bent tree and not the bent tree itself. Government’s approach to dealing with the forex black market rings true …
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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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All Zimbabwean Currency Denominations Combined Cannot Buy A Loaf Of Bread This Friday morning, it took 69 Zimbabwean dollars to buy one loaf of bread from the supermarket as confidence in the local currency hits rock bottom. The price of a loaf of bread has gone up 3 times more than the value of the …