Browsing Tag

bond notes

Bond notes also vanish

By Gift Phiri There are fresh fears that the country’s dying economy is hurtling towards the debilitating depths of the 2008 hyperinflationary era, as bond notes are now also disappearing from the market. This comes as United States dollars…

Ex-minister Moyo slams bond notes

By Tendai Kamhungira Former Industry and International Trade minister Nkosana Moyo has slammed bond notes, arguing the surrogate currency is “not the answer” to the country’s deepening cash crisis. The bond notes — valued at par with the…

Jail term for devaluing bond notes

By Gift Phiri Retailers and dealers fuelling the three-tier pricing that has emerged as market forces are overpowering the forced parity of bond notes face imprisonment of up to seven years. This comes after President Robert Mugabe on…

Multi-tier pricing model illegal: RBZ

Retailers who are using a multi-tier pricing system for different payment systems are violating the Bank Use Promotion Act and risk the full wrath of the law, a senior Reserve Bank official has said. RBZ deputy governor Dr Kupukile Mlambo…

Bond notes value fall spikes inflation

Zimbabwe’s inflation has moved into positive territory for the first time in two years as a result of depreciating value in bond notes, a leading think-tank said yesterday. Cape Town-based NKC African Economics said consumers were absorbing…

Mugabe wants rand as currency

By Tawanda Karombo | IOL | President Robert Mugabe has hinted that he would prefer the adoption of the rand in Zimbabwe despite the reluctance to adopt the currency from his government. Mugabe, who turned 93 on Tuesday, said in a televised…