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Zimbabwe Reserve Bank Governer Mangudya’s Tenure To Be Extended

Zimbabwe Reserve Bank Governer Mangudya’s Tenure To Be Extended

PRESIDENT Mnangagwa is clear on the performance of Reserve Bank of Zimbabwe Governor, Dr John Mangudya and is about to renew his contract for a second tenure, Deputy Chief Secretary in the Office of the President and Cabinet (Presidential Communications) Mr George Charamba has said. ‘‘The President is very clear on the Reserve Bank Governor’s […]

Queen Bee most powerful oligarchy/cartel in Zimbabwe

Queen Bee most powerful oligarchy/cartel in Zimbabwe

Key Questions answered about corruption in Africa (Zimbabwe), factional politics and the powerful cartel (Oligarchy) controlling Diamond, Gold, Fuel, Grain (Command Agriculture), Basic Commodities and Foreign Currency trading. 1. *Who is Queen Bee?*-Queen Bee is colloquial name for the most powerful oligarchy/cartel in Zimbabwe. The group is heavily connected to senior politicians, the army, intelligence, […]

Former Zimbabwe governor Gideon Gono appointed as SEZ chair

Former Zimbabwe governor Gideon Gono appointed as SEZ chair

FORMER Reserve Bank of Zimbabwe (RBZ) governor, Gideon Gono yesterday returned to the limelight after being appointed chairperson of an 11-member Special Economic Zones (SEZs) board, while there was also a place for army boss, General Constantino Chiwenga’s wife, Marry Mubaiwa on the body. This came after President Robert Mugabe assented to the SEZ Act […]

Corrupt Mugabe must resign: Sipikita

Corrupt Mugabe must resign: Sipikita

It is not every day that an ordinary vendor gets to meet the head of Zimbabwe’s apex bank to complain about the crippling cash shortages. For 28-year-old Grievance Sipikita, Zimbabwe “is my country too” and there is no office that is too important not to be knocked at in his quest for answers. Sipikita wrote […]

Zimbabwe National Road Administration opens EcoCash toll payments

Zimbabwe National Road Administration opens EcoCash toll payments

MOTORISTS battling cash crisis can now pay toll fees using Ecocash following a partnership between mobile operator Econet and the Zimbabwe National Road Administration (Zinara). The new deal will see Ecocash registered customers linking their vehicles and EcoCash toll accounts to pay toll fees in advance. Econet Wireless says the partnership will ease the flow […]

Does Mugabe’s Govt Plan to Accumulate More Debt?

Does Mugabe’s Govt Plan to Accumulate More Debt?

Finance minister Patrick Chinamasa’s pledge that the Reserve Bank of Zimbabwe (RBZ) will continue to give exporters incentives under a $200 million African Export-Import Bank (Afrexim Bank) loan scheme has raised eyebrows that the government wants to contract more debt. The loan facility was used to back the printing of bond notes, a United States […]

President Robert Mugabe blocks rand adoption

President Robert Mugabe blocks rand adoption

FORMER Finance minister Tendai Biti has disclosed that President Robert Mugabe in 2010 blocked the use of the South African rand as the official currency, possibly for fear of being politically subservient to his South African counterpart, Jacob Zuma. Addressing a financial markets conference in Harare yesterday, Biti said Mugabe rejected proposals to adopt the […]

President Mugabe and wife Grace Took Money From Reserve Bank of Zimbabwe

President Mugabe and wife Grace Took Money From Reserve Bank of Zimbabwe

President Robert Mugabe, his wife Grace and top securocrats are among the Reserve Bank of Zimbabwe’s biggest debtors and the prime beneficiaries of its farm mechanisation programme, says former finance minister Tendai Biti. This is why the ResBank, with the connivance of Zanu (PF) MPs, is resisting attempts to force it to publish its list […]

Newly introduced Zim Bond notes also vanish

Newly introduced Zim Bond notes also vanish

There are fresh fears that the country’s dying economy is hurtling towards the debilitating depths of the 2008 hyperinflationary era, as bond notes are now also disappearing from the market. This comes as United States dollars have almost completely disappeared from the formal market — with the coveted greenbacks now only easily available in the […]

Zimbabwe crisis has no visible ending – Zimdollar return imminent

Zimbabwe crisis has no visible ending – Zimdollar return imminent

While the RBZ has said bond notes are not Zimbabwe dollars for they are not a currency but financial instruments, ostensibly issued at par with the US dollar, there are renewed worries that the central bank plans to circulate more bond notes to ease dollar shortages in a move that could open the door to […]

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