Zimbabwe has been singled out as one of the countries with the lowest daily mobile money transaction limits in Africa, a development seen as hindering the growth of the mobile money sector and hampering financial inclusion. A study by GSMA – the global industry organisation that
Access Forex, a financial services giant, has expanded its market reach by catering for all facets of the country after partnering with financial institutions, agents and small business to offer instant and affordable access to cash services for all. The bureau de change and remittance services
The local Zimbabwean dollar has continued to lose value against the United States dollar following Tuesday's foreign currency exchange auction with the official exchange rate now standing at ZWL$76.7596 from last week's ZWL$72.1470. An update released by the Reserve Bank of Zimbabwe following today's auction revealed
The average price of bread is set to decrease with effect from tomorrow according to the Grain Millers Association (GMAZ). Addressing journalists in Harare, GMAZ chairman Tafadzwa Musarara said the reduction has been necessitated by the re-establishment of the foreign currency auction system by the Reserve
Opposition MDC Alliance has expressed dismay over the suspension of mobile money transfers by the Government saying the decision violates the rule of law. In a statement the Alliance demanded a reversal of the decision saying it does not protect property rights and dues process should
The Confederation of Zimbabwe Retailers (CZR) has raised alarm over the rejection of bond coins, ZWL$2 and ZWL$5 notes saying it goes against nation building efforts. In a statement CZR president, Denford Mutashu said, “The Confederation of Zimbabwe Retailers (CZR) has noted with serious concern the
Zimbabweans with access to free funds can now pay for goods and services in foreign currency, the Reserve Bank Of Zimbabwe has said. Last year, In a bid to defend bond Notes, the government outlawed the use of the United States dollar and a host of other
Local businesses have questioned the autonomy of the Reserve Bank of Zimbabwe (RBZ) as confidence in the central bank continues to weaken amid suspected state capture. The recent exchange rate spike, strongly linked to an increase in reserve money in the economy has left monetary authorities
Zimbabwe needs at least five years to complete the de-dollarization process which started last year in June following the abolishment of the multi-currency system, Reserve Bank of Zimbabwe (RBZ) governor, John Mangudya has said. De-dollarization is the transitional process from an American dollar denominated economy to
Finance and Economic Development Minister, Professor Mthuli Ncube has promised to issue higher denominations of the Zimbabwean Dollar during the course of the year to mitigate cash shortages in the economy. Ncube who spoke to Bloomberg Television last night in Davos, Switzerland on the sidelines of
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