Business

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RBZ Faces Criticism Over Forex Management Policies

The Reserve Bank of Zimbabwe (RBZ) has come under scrutiny for its directives regarding foreign currency (forex) management, with accusations of undue interference in companies’ cash flow operations. Recently, RBZ Governor Dr. John Mushayavanhu stated that companies should prioritize using their foreign currency account (FCA) balances before accessing forex from …

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Zimbabwe Seeks Input To Regulate Cryptocurrency Operations

Zimbabwe has asked for public input on cryptoasset operations as it works on regulatory policy for the sector. “In line with global trends and best practices, Zimbabwe is embarking on an exercise to assess and understand the cryptocurrency landscape,” the government said in a statement published in state-run Herald newspaper …

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Currency Board, Gold Linked Currency For Zimbabwe

Zimbabwe is working on new measures to stabilise its local currency including linking the exchange rate to hard assets such as gold and creating a currency board, Finance Minister Mthuli Ncube said on Monday. The Zimbabwean dollar has fallen about 40 percent since the start of the year, hurt by …

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Mnangagwa Exempts 21 Entities From Procurement Requirements

Twenty-one public entities, mostly enterprises where the State is just an investor rather than a manager, including the Reserve Bank of Zimbabwe and its subsidiaries, have been exempted from the requirements of the Public Procurement and Disposal of Public Assets Act. The Act allows the President, after consulting the Procurement …

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Kuvimba Now Under Full Control Of Mutapa Fund

Zimbabwe’s state sovereign wealth fund has now acquired all of state mining company Kuvimba Mining House Ltd., in a bid to end speculation about its ownership. Kuvimba holds some of Zimbabwe’s best mining assets, which were once owned by a company controlled by US- and UK-sanctioned tycoon Kudakwashe Tagwirei, an …

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Calls To Liberalise Forex Market To Save Dwindling ZWL

The local currency has lost so much value in the past three years such that the country is virtually dollarised again, but experts believe that letting the foreign currency market free might save whatever is left of the local currency. Zimbabwean economists say a pressing need for revision in the …

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Chibuku Super Ginger & Pineapple Flavours Launched

DELTA Corporation has launched two new flavours of its Chibuku Super beer brand under the sorghum segment as the firm seeks to offer differentiated products and choices to meet the market’s dynamic needs. The latest flavours — ginger and pineapple, are already in the market with consumers now able to …

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Impact Training Institute Continues To Scale Academic Heights

Reputable award-winning academy, Impact Training Institute (ITI) continues to scale heights in Zimbabwe’s academic space after being accredited to two international examination boards, Nhau/Indaba has established. Renowned for its Christian background, ITI was recently officially approved as a centre for Associate of the Business Management Association (ABMA) and Institute of …

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Zimbabwe Currency Plunge Temporary: Mangudya

As Zimbabwe’s parallel market reels under the strain of a currency crisis, central bank governor, John Mangudya, assures the public that this turmoil is merely passing. This grey market, operating outside formal banking channels, has experienced volatility for the past three weeks, causing ripples of uncertainty among businesses and individuals …

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