Man holding $20 Zimbabwe dollar notes

RBZ finally releases $20 notes

The Reserve Bank of Zimbabwe has finally released the $20 notes which were supposed to have entered into circulation last week. Some people have disregarded the risk of getting arrested by posting pictures on social media holding the new $20 Zimbabwe dollar notes. Was the RBZ chickening out Last month, the central bank announced it … Continue reading RBZ finally releases $20 notes

Zimbabwe police roadblock lockdown

Unreasonable Police blocking people from collecting remittances

As a result of the Covid-19 pandemic, many people are relying on the money sent from loved ones in the Diaspora. But these people are having a tough time in dealing with the police to collect their remittances. Indeed, substantial number of people who want to collect remittances are complaining about being turned away by … Continue reading Unreasonable Police blocking people from collecting remittances

World remit and Mukuru

World Remit customers can now collect mool-ah at Mukuru

People who are having a tough time collecting their money sent through World Remit will be glad to know of a new arrangement between Mukuru and World Remit. The arrangement between the two money transfer agencies allows customers whose money was sent through World Remit to collect it from Mukuru outlets. "We have witnessed an … Continue reading World Remit customers can now collect mool-ah at Mukuru

Moneychanger US dollar Zimbabwe Dollar

RBZ out to end moneychangers honeymoon with a “formal market based forex trading system”

The recent Monetary Policy Committee (MPC) meeting came up with a resolution that will not go down well with moneychangers a.k.a foreign currency illegal traders. The Reserve Bank of Zimbabwe's will force moneychangers out of business by leaving the exchange rate to be determined by market forces instead of the central bank imposing a fixed … Continue reading RBZ out to end moneychangers honeymoon with a “formal market based forex trading system”

Man holding US dollars in Zimbabwe

We have Zim dollar so we won’t pay civil servants with US dollars – Labour Minister

Whatever hope civil servants had of earning US dollars is now gone. Minister Public Service, Labour and Social Welfare, Professor Mavhima said that the government will not pay its employees in US dollars since the country now has its own currency: Our position is that we cannot remunerate our workers in US dollars. As Government … Continue reading We have Zim dollar so we won’t pay civil servants with US dollars – Labour Minister

Man holding Zimbabwe dollar

You will get arrested if you show off cash on social media – Mangudya

You may need to think twice before you flaunt that stack of money on social media otherwise you will be in for it with the law enforcement authorities. This was revealed by the Reserve Bank of Zimbabwe's Governor, Dr. John Mangudya. Dr. Mangudya revealed to Sundaynews that folks who find joy in flaunting their cash … Continue reading You will get arrested if you show off cash on social media – Mangudya

New Zim dollar notes

RBZ delays release of $20 Zim dollar notes. Is it chickening out?

The first week of June ended yesterday and what is noteworthy is that the Reserve Bank of Zimbabwe didn't release the $20 Zim dollar notes as planned. In mid-May the central bank promised to inject $10 and $20 notes into economy in a bid to address biting cash shortages. In the statement, the RBZ stated … Continue reading RBZ delays release of $20 Zim dollar notes. Is it chickening out?

EcoCash Agent transaction ban

More misery for EcoCash Agents as RBZ bans Agent to Agent transactions

Word on the street is that EcoCash has started barring Agent to Agent transactions, Agent to Bulk transactions, Bulk to Agent transactions and Bulk to Bulk transactions. The message sent to some EcoCash Agents confirms that the 4 transactions have been banned as per the Financial Intelligence Unit's Directive. The message read: Dear Partner. Agent … Continue reading More misery for EcoCash Agents as RBZ bans Agent to Agent transactions

Reserve Babe of Zimbabwe Financial Intelligence Unit

RBZ corners moneychangers by limiting daily internal bank transfers

The Financial Intelligence Unit's is upping the tempo in its fight against the black market. Today, the Reserve Bank of Zimbabwe's Financial Intelligence Unit has instructed banks to limit the number of internal bank transfers that customers can do in a single day. The new Directive instructs banks to allow customers to do just 2 … Continue reading RBZ corners moneychangers by limiting daily internal bank transfers