U.S.$ Disappears From 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 More...

by reporter263 | Published 9 hours ago
By reporter263 On Saturday, February 25th, 2017

Tough times for loan defaulters

ZIMBABWE’S serial defaulters are in for a bumpy year following operationalisation of the country’s credit registry. The registry, which by end of January this year already had a total of 104 000 loans uploaded More...

By Lex Vambe On Wednesday, February 22nd, 2017

Mugabe wants rand as currency

By Tawanda Karombo | IOL | President Robert Mugabe has hinted that he would prefer the adoption of the rand in Zimbabwe despite the reluctance to adopt the currency from his government. Mugabe, who turned 93 on More...

Enough is enough: Zimbabweans tell Mugabe as his regime brings back the 'Zim Dollar' through bond notes
By reporter263 On Tuesday, February 21st, 2017

Mugabe admits stashing cash in his home

PRESIDENT Robert Mugabe has admitted he also stashed scarce bank notes at home, fearing he may not readily be able to access his savings if he took them to local banks. Speaking in a lengthy interview with State More...

By Lex Vambe On Monday, February 20th, 2017

Here They Come – Zimbabwe ‘To Roll Out 10, 20 Bond Notes’

Less than two weeks after President Robert Mugabe’s government unexpectedly introduced 5 US “bond notes”, a state-controlled newspaper says notes in denominations of 10 and 20 are likely to be More...

By reporter263 On Thursday, February 16th, 2017

The king of funny money : Zimbabwe’s new “bond notes” are falling fast

Robert Mugabe prints banknotes and insists they are worth as much as US dollars. No one is fooled by Economist :From the print edition | Middle East and Africa Feb 18th 2017 | HARARE HOW much is an American More...

By reporter263 On Thursday, February 16th, 2017

Hwange Colliery workers get bricks as salary

By Thandeka Moyo The Hwange Colliery Company (HCC) which has not paid workers for more than three years is giving workers bricks to sell to raise salaries. Hwange Colliery This came out in Parliament on Tuesday More...

By reporter263 On Monday, February 13th, 2017

EcoCash reduces MasterCard withdrawals by 20%

Econet Wireless Zimbabwe’s mobile money platform, EcoCash has reduced its monthly foreign withdrawal limit on MasterCards by 20% to $400, as the country’s foreign currency position worsens. In a notice last More...

By Lex Vambe On Thursday, February 9th, 2017

Is Zimbabwe’s bond note about to crash?

Harare – Here it is: the first hint that Zimbabwe’s bond note to US rate is about to start moving. And not in a good way. A worsening forex squeeze since the introduction of Reserve Bank Chief John More...

By Lex Vambe On Tuesday, February 7th, 2017

Banks revert to $50 withdrawal limits: Standard Chartered cancels Visa cards

SOME local banks have reverted to the $50 withdrawal limit per day citing continuing cash shortages. This is in defiance of a recent Reserve Bank of Zimbabwe (RBZ) directive to have a minimum withdrawal pegged More...