RBZ
Zimbabwe has taken huge step towards enhancing its digital economy, hosting a three-day engagement visit as part of the Innovative Digital Economy and E-commerce for Transformation (IDECT) initiative. The project aims to bolster e-commerce, digital trade, and cross-border payment systems within the nation. The initiative, a collaboration between the African Development Bank (AfDB), the Reserve […]
The Reserve Bank of Zimbabwe (RBZ) has dismissed recent claims circulating on social media that the People’s Own Savings Bank (POSB) has been sold to foreign investors. The RBZ stated that these claims are false. In a statement, the central bank clarified that the sale of an institution like POSB would require approvals from the […]
Mukuru, a leading financial services provider, has been granted a Deposit-Taking Microfinance Institution (DTMFI) licence by the Reserve Bank of Zimbabwe (RBZ). The licence will allow Mukuru to expand its efforts to promote financial inclusion, particularly for underserved groups such as SMEs, women, youth, people with disabilities, and rural communities. Mukuru Chief Executive Officer Andy […]
The Reserve Bank of Zimbabwe (RBZ) has announced that Mukuru Financial Services Zimbabwe Limited has been authorized to operate as a deposit-taking microfinance institution, effective December 16, 2024. Deposit-taking microfinance institutions provide financial services to individuals with low incomes or small businesses, allowing them to save and access credit facilities. In a statement, the RBZ […]
The Reserve Bank of Zimbabwe has decided to maintain its strict monetary policy stance. This means interest rates will stay high to curb inflation. The bank’s Monetary Policy Committee met on Monday to review the country’s economic situation. They noted that recent measures, such as limiting the amount of money banks can lend, have helped […]
The Reserve Bank of Zimbabwe (RBZ) has announced a decisive tightening of its monetary policy in an effort to curb soaring inflation. Following a recent meeting of the Monetary Policy Committee (MPC), the central bank has adjusted its key policy rate, which acts as the benchmark for inter-bank transactions, in a bid to rein in […]
The Zimbabwe Congress of Trade Unions (ZCTU) has called on employers to establish a minimum wage in United States Dollars (USD) to protect vulnerable workers. This appeal comes in response to the Reserve Bank of Zimbabwe’s (RBZ) recent devaluation of the Zimbabwean Gold (ZiG) currency, which has significantly impacted workers’ salaries. In a statement, ZCTU […]
The Governor of the Reserve Bank of Zimbabwe (RBZ), Dr. John Mushayavanhu, has provided insights into the recent decline in the value of the Zimbabwe Gold (ZiG) currency, despite the increase in global gold prices. On Friday, the RBZ devalued the ZiG by 44%, reducing its value from 13.99 to 24.39 per US dollar. Dr. […]
The Reserve Bank of Zimbabwe (RBZ) has taken a step towards regulating the licensing of all business operators to have a bank account and point of sale (POS) machines, promoting the use of plastic money in Zimbabwe and modernizing the country’s payment systems to reduce reliance on cash transactions. The RBZ aims to deploy inspectors […]
Zimbabwe’s central bank, the Reserve Bank of Zimbabwe, is taking steps to ensure sufficient local currency, the ZiG, remains in circulation to support normal business transactions and economic activity. The RBZ has announced a new arrangement with Homelink to widen public access to ZiG cash, leveraging Homelink’s existing branch network across the country. Starting Monday, […]
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