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Reserve Bank of Zimbabwe warms up to South African rand adoption

Reserve Bank of Zimbabwe warms up to South African rand adoption

Zimbabwe’s central bank is warming up to adoption of the South African Rand as a dominating currency following various calls from business in favour of the exchange. In an apparent U-turn from his previous stance, Reserve Bank of Zimbabwe (RBZ) deputy governor Kupukile Mlambo, on Thursday said rand domination would benefit the country, presently battling […]

“USD stocks continues to decline”

“USD stocks continues to decline”

USD stocks are dwindling at what I would call “running out at Boltspeed”. It is observable that the worst is likely to continue worsening. In my view, the situation we are in is a testament to the validity of two theories: 1. Force of demand and supply- if the wider market prefers USD to bond […]

National Railways of Zimbabwe plans to lay off 2 000 workers to maintain a manageable workforce

National Railways of Zimbabwe plans to lay off 2 000 workers to maintain a manageable workforce

National Railways of Zimbabwe (NRZ) is set to retrench nearly 50% of its workforce in a move board chairman Larry Mavhima said was aimed at stopping the bleeding at the parastatal. Mavhima said the job cuts would allow the stricken parastatal to maintain a manageable workforce for operational efficiencies. “We are looking at our current […]

Zimbabwe ‘funny money’ bond notes now a collector’s item on eBay

Zimbabwe ‘funny money’ bond notes now a collector’s item on eBay

HANG your heads in shame, all you haters that have mocked Zimbabwe’s bond note and doubted its value. Not only has the bond note maintained its value, against all expectations, it is now more valuable than the US dollar. Well, at least on eBay, the online auction site. For up to US$7, you can now […]

U.S.$ Disappears From Zimbabwe’s Banking System

U.S.$ Disappears From Zimbabwe’s Banking System

Transactional activity in Zimbabwe in recent weeks indicates a slow disappearance of the United States dollar, which is being replaced by bond notes. The bond notes were introduced last year under the $200 million export incentive to supplement dwindling dollar supplies due to weak exports. A survey by Standardbusiness in the central business district last […]

Reserve Bank of Zimbabwe Governor John Mangudya’s Roadmap Faces Hurdles

Reserve Bank of Zimbabwe Governor John Mangudya’s Roadmap Faces Hurdles

Economic measures put in place by Reserve Bank of Zimbabwe (RBZ) governor John Mangudya to drive economic growth will come to nothing in the absence of structural reforms, analysts have warned. In his monetary policy statement released last week, Mangudya announced a raft of measures that included, among others, the extension of the $200 million […]

Has Mugabe Switched On The Money Printing Machine?

Has Mugabe Switched On The Money Printing Machine?

The introduction of a new 5-dollar bond note reminds Zimbabweans of the last time they had a currency of their own, whose biggest denomination was a U.S.$100 trillion note that wasn’t enough to buy a loaf of bread. Many ordinary people fear the bond notes may lose value if President Robert Mugabe’s government prints more. […]

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