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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 […]

Zimbabwe Central Bank Governer John Mangudya fired by ED, World Bank’s Andrew Bvumbe takes over

Zimbabwe Central Bank Governer John Mangudya fired by ED, World Bank’s Andrew Bvumbe takes over

Reserve bank of Zimbabwe Governor Dr John Mangudya has been fired, with a senior World Bank official being tipped for the post, reports suggest. According to Alternate Executive Director at World Bank Group representing Africa, Anne Kabagambe the incoming Zimbabwe Reserve Bank Governor is Andrew Bvumbe who has since left his position as Executive Director […]

The Great Bank Robbery: How the Zimbabwe government stole from its people

The Great Bank Robbery: How the Zimbabwe government stole from its people

There is a scene in the 1978 classic movie, The Great Train Robbery, which portrays the destructive arrogance of Zimbabwe’s monetary policy over the past two decades. After masterminding a gold heist, Edward Pierce, played by Sean Connery, is dragged before a stern judge. “Now, on the matter of motive, we ask you: Why did […]

Zimbabwe Republic Police in US$4 million cash, 98kg gold haul

Zimbabwe Republic Police in US$4 million cash, 98kg gold haul

THE Zimbabwe Republic Police on Thursday night recovered 98kg of gold and about US$4 million in cash from suspected illegal cash and gold dealers at an unnamed company premise in Harare’s affluent Borrowdale suburb, NewsDay Weekender has learnt. The police confirmed the gold stows and the cash, which they said had now been secured by […]

Zimbabwe Informal Sector 6th Biggest in Africa

Zimbabwe Informal Sector 6th Biggest in Africa

Zimbabwe’s informal sector could be the sixth largest in the Sub-Saharan region, contributing between 40 percent and 50 percent to economic growth — an estimated $7 billion — especially for the four-year period between 2010 and 2014, according to the latest International Monetary Fund (IMF) working paper. The country’s gross domestic product (GDP), which measures […]

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 […]

ATM card cloning: Bank card criminals invade Bulawayo

ATM card cloning: Bank card criminals invade Bulawayo

CRIMINALS who replicate Automated Teller Machine (ATM) cards and go on to clean out people’s accounts have hit Bulawayo, police have warned. The crime, also known as card cloning or card skimming, is relatively new in the country. Acting Bulawayo police spokesperson Assistant Inspector Abednico Ncube said three cases of card cloning have been reported […]

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 […]

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