Banking

Former NMB Bank founder Mr Julius Makoni started his banking business with the intention to harvest money from the financial institution for himself, the High Court ruled in a case in which the banker was […]

THE inter-bank foreign exchange market has so far traded over $33 million since its introduction towards the end of last month, an official has said. Speaking at the Institute of Chartered Accountants of Zimbabwe monetary […]

HARARE – Zimbabwean finance minister Mthuli Ncube said the possibility of his country either adopting the SA rand as its main currency of trade – alongside its local unit, the RTGS dollar – or joining […]

HARARE (Reuters) – Zimbabwe’s central bank governor on Monday said the exchange rate for the new transitional currency is unlikely to remain at 2.5 per U.S. dollar by the time tobacco auctions open next week, […]

The southern African nation last month ditched a discredited 1:1 dollar peg for its surrogate bond notes and electronic dollars, merging them into a lower-value transitional currency called the RTGS dollar. Mangudya said the central […]

Almost two decades of profligate monetary policy has destroyed Zimbabwe’s economy and fueled rampant inflation, decimating the savings of its people twice. Hyperinflation of as much as 500 billion percent in 2008 made savings worthless […]

Zimbabwean money transfer agencies face problems in meeting their customer obligations owing to termination of correspondent — bank arrangements between local banks and international finance institutions  are are now planning on importing their own banknotes. […]