Zimbabwe dishes out $12 million more in bond notes , eases withdrawal limits

bond notes protest The Reserve Bank of Zimbabwe has ploughed $12 million more bond notes into the market and increased the daily withdrawal in bond notes to $100 a day but a maximum of $300 a week. Zimbabweans were only allowed to withdraw $50 a day in bond notes and a maximum of $150 a week when the notes were introduced last month. There were fears More...

by Lex Vambe | Published 1 month ago
By Lex Vambe On Tuesday, December 20th, 2016
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Watch |Zimbabwe cattle banking takes off as villagers use animals for bank transacations

Zimbabwe’s first “Cattle Bank”  opened its doors in 2013 to offer a service in a unique kind of banking where owners are being asked to bring in their animals as a cash deposit. Their bovine More...

By Lex Vambe On Monday, December 12th, 2016
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Bank haunts employees over bond notes picture leaks

A Zimbabwean bank has arraigned three of its employees before a disciplinary hearing for alleged serious misconduct after they were dismissed last month for allegedly leaking images of bond notes before their official More...

By Lex Vambe On Thursday, December 8th, 2016
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Timba in US$16 million National Social Security Authority Loot

…Patterson Timba claims retribution THE National Social Security Authority (NSSA) has filed criminal charges against former ReNaissance Financial Holdings Limited (RFHL) group chief executive officer (CEO), Patterson More...

By Lex Vambe On Monday, December 5th, 2016
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HARARE City Council earned $700k from selling burial space

HARARE City Council generated revenue of more than $700 000 last year selling burial space for over 6 000 people who were buried at its cemeteries. Demand for graves reportedly far surpasses the available burial More...

By Lex Vambe On Saturday, December 3rd, 2016
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RBZ official booed at bond notes consultation meeting

A RESERVE Bank of Zimbabwe (RBZ) official had a torrid time trying to explain the introduction of bond notes consultation meeting with civic groups in Bulawayo on Thursday, evening, as the crowd constantly booed More...

By Lex Vambe On Friday, December 2nd, 2016
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Chinamasa says government will deal with those who refuse bond notes

Bond notes were introduced into the market legally using the Presidential Powers but the government had decided to regularize the currency through Parliament now instead of waiting until the Presidential Powers More...

By Lex Vambe On Thursday, December 1st, 2016
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Zimbabwe’s new currency, bond notes , introduced on Monday, is already losing value

Police clashed with protesters against the new ‘bond notes’ in Harare on Wednesday, amid reports vendors are already demanding more than the currency’s 1 – $1 face value It may be in its infancy, More...

By reporter263 On Wednesday, November 30th, 2016
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Cash-starved Zimbabwe trades dollars for dollars

In Zimbabwe, a U.S. dollar is no longer worth a U.S. dollar. Money changers charge $102 in small notes for a $100 bill. Workers withdraw their salary by paying other people’s groceries at the supermarket More...

By reporter263 On Tuesday, November 29th, 2016
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Zimbabwe launches new currency amid fears of return to hyperinflation

Zimbabwe has launched its controversial new currency, pegged to the US dollar, in the hope of easing a crippling cash crisis. Zimbabwe has launched its controversial new currency, pegged to the US dollar, More...