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Deposit Protection now covers foreign currency accounts up to...
In the Monetary Policy Statement released by the Reserve Bank of Zimbabwe yesterday, it was revealed that the Deposit Protection Corporation (DPC) now covers foreign currency denominated accounts....
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RBZ freezes firms’ accounts for suspected money laundering, what does that...
The Reserve Bank of Zimbabwe (RBZ) is engaged in a never ending game of Whack-A-Mole. There are too many moles and too many holes for the RBZ to whack every single mole. Besides, for every...
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Cashless societies prone to abuse by govts, Canada shows. Is Zim better off...
In Zim, the RBZ’s FIU can freeze your account without court order. A fact that won’t scare many who shun the official banking sector. For various reasons, Zimbabwe has been becoming an increasingly...
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30% interest per month on a loan? The Zimbabwean credit situation improving...
There is no such thing as a purely capitalist economy and like many, Zimbabwe is a mixed economy. However, we have flirted with socialism more than most with our ‘command’ efforts in recent times as...
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RBZ bans Simbisa’s InnBucks with immediate effect!
The Reserve Bank of Zimbabwe (RBZ) has announced that it has ordered Simbisa to halt operations of its loyalty and rewards program, InnBucks with immediate effect. The RBZ’s statement on InnBucks is...
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The RBZ suspended InnBucks and Access Forex domestic transfers temporarily....
In what came as a shock to most, the Reserve Bank of Zimbabwe ordered Simbisa Brands (Private) Ltd to cease operating InnBucks, its rewards and loyalty program (money transfer service) last week. The...
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RBZ finally identifies actual cause of Zimdollar collapse but maintains old...
When I first heard that the first step in problem solving is identifying the problem, I thought that was a bit condescending. Pre-teen me couldn’t understand how one could not know the problem they...
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RBZ on suspension of bank lending. Partly drawn loans are suspended too. What...
It started with a short paragraph by the President. If we hadn’t been living in Zimbabwe for the past 2 decades we would have been more shocked – all lending by banks was suspended on the 7th of May...
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With lending suspended, banks will be okay but microfinance institutions...
Still wild to think the government woke up one day and outlawed the activity that pulls in a third of banks’ revenue. The government suspended all lending in the country and financial institutions are...
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BancABC distances itself from paper analysing the govt’s economic measures....
The Zimbabwean government did a number on banks, suspending loans that are responsible for a third of their revenues. We know that banks are trying to engage the authorities to see if they can’t find...
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RBZ lifts suspension of bank lending with immediate effect. Talk about...
Everything is ‘with immediate effect’ with the Zimbabwean govt. Lending is unbanned as quickly as it was banned. It was only 10 days ago that we were surprised to hear that the government was...
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RBZ measures addressing abuse of loan facilities reasonable, however findings...
They say extraordinary problems call for extraordinary solutions. In April 2022 the government of Zimbabwe shocked the world when they barred banks from lending. They assured us it was the only way to...
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I think I know who the gold coins are actually for and it sickens me
Let us consider all that the Reserve Bank of Zimbabwe has told us about the coming gold coins. When we do that and also look at alternatives available to would-be buyers, the picture is clear. At...
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Zimswitch raises Zipit limits
At this point, it’s now old news that our economy and the currency are not doing so well and a clear sign of that is basic goods and services cost more than the amount of money you are allowed to...
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EcoCash transaction limits revised upwards, still low
You know the drill. Inflation is roaring and prices appear to be changing every day. Couple that with transaction limits on our preferred payment platforms and you can find yourself unable to pay for...
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The RBZ invites dialogue on coming digital currency (CBDC), you have to be a...
The Zimbabwean government is considering adopting a central bank digital currency (CBDC). The Reserve Bank of Zimbabwe (RBZ) has been researching this for a while now. If you thought they were joking...
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HIT is developing a central bank digital currency (CBDC), are universities...
Apparently, the Harare Institute of Technology (HIT) is developing a central bank digital currency. HIT Vice Chancellor Dr Kanhukamwe revealed this at the graduation ceremony held at their campus a...
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RBZ needs your help with the development of a cryptocurrency. Just 33 questions
Remember a time when a number of cryptocurrency startups in Zimbabwe were banished from existence? And it was by the RBZ. Okay to be fair some of them were not as sound as anyone would have liked but...
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RBZ wants to make it easier to get a loan even if you are not a civil servant...
The loan space in Zimbabwe has been pretty rough for the common man for a while now. Whilst bankers and formally employed individuals with healthy bank statements could have loans availed to them,...
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RBZ could face sanctions following Al Jazeera documentary. That’s a big deal
Al Jazeera released the first of four parts to their explosive documentary on corruption and looting in Zimbabwe yesterday. Titled ‘Gold Mafia’ the documentary exposes the dealings of some government...
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The RBZ’s digital gold coins are a good idea but may be undone by just one...
The Reserve Bank of Zimbabwe (RBZ) must feel like, ‘damned if we do, damned if we don’t.’ Whatever they do attracts negativity, even when it really shouldn’t. I understand why that is though. The RBZ...
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RBZ’s gold-backed digital tokens coming on 8 May 2023
We talked about the upcoming digital gold tokens earlier this week. The Reserve Bank of Zimbabwe has now revealed when we can expect the innovative tokens. They are coming in 10 days’ time, on the 8th...
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Digital gold tokens – here’s how you go about purchasing. Not all banks are...
I will assume you know about the digital gold tokens that the RBZ is issuing. If you have been living under a rock, get yourself acquainted with the details here: The RBZ’s digital gold coins are a...
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Over US$11.4 million (equivalent) bid for gold-backed digital tokens in first...
We were not able to buy gold tokens before the deadline yesterday. We tried different banks and came up short in all cases. One bank told us they were waiting on instructions from their Head Office on...
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Gold tokens have already surpassed gold coin sales, the interbank rate...
Day by day, the Zimbabwe government is admitting that the forex auction was a mistake. It is the main reason for the Zimdollar tanking. They won’t come out right and say that but their changing tune...
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New president of Argentina plans to shut down central bank, imagine closing...
Utter the name ‘RBZ’ in front of most adult Zimbabweans and you’ll hear a ‘tsk tsk’ in return. For all the good that the Zimbabwean central bank has ever done, its failures are just so large as to...
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Exports and remittances both up 8%, are there too many players doing...
Here is the situation Zimbabwe finds itself in – it just cannot find ways to generate revenue. The only way the government makes anything is by extorting it out of its poor citizens. In the RBZ’s...
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John Panonetsa Mangudya’s 10-year tenure as RBZ governor almost up, how did...
We’re almost there good people, John Panonetsa Mangudya’s tenure as governor of the Reserve Bank of Zimbabwe is almost up. Mangudya is set to leave his post at the end of April 2024. Opinions are...
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John Mushayavanhu, the new RBZ Governor has an asterisk to his FBC successes
Dr John Mushayavanhu (left), Image Credit FBC Holdings Do you remember how excited we were when we heard that Mthuli Ncube was going to be Minister of Finance? I mean, how could we not, here was a...
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The Lite bank account is dying, some banks don’t offer it anymore and this is...
The Zimbabwean government will need to make up its mind on financial inclusion soon. Their love-hate relationship with mobile money and Lite bank accounts needs to stop. In its never-ending fight...
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