RBZ
The Reserve Bank of Zimbabwe (RBZ) has moved to calm public concerns regarding the availability and usage of the new local currency, ZiG, particularly in areas outside of Harare. In a statement, RBZ assured the transacting public that ZiG cash availability has improved lately. According to the Reserve Bank, the proportion of local currency settlements […]
The Minister of Finance, Economic Development and Investment Promotion Professor Mthuli Ncube has clarified that the Ministry of Finance has not received any investment proposals for the People’s Own Savings Bank (POSB), despite circulating rumors suggesting foreign interest. In a recent parliamentary session, Minister Ncube addressed the issue, stating that neither the ministry nor the […]
The Reserve Bank of Zimbabwe (RBZ) has clarified its stance following a report in The Herald alleging that the central bank would take action against businesses hoarding cash in deposit boxes. In a statement, the RBZ referenced its 6 February Monetary Policy Statement, which stressed the need for proper banking practices while cautioning against the […]
The Reserve Bank of Zimbabwe (RBZ) has dismissed as false an AI-generated video claiming the government admitted to hiding the online crypto trading platform CryptoCandor from the public. In a statement, the RBZ clarified that the video circulating online is misleading. The video, titled “The truth is coming out! The government admits it hid this […]
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 […]
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