Browsing Tag

Charity Jinya

Mixed views on rand adoption

By  Gift Phiri Proposals  for Zimbabwe to adopt the South African rand as the major instrument of trade amid growing United States dollar shortages has attracted mixed views, with some economists firm that it will boost the economy while…

Bond notes now at $102m

By Happiness Zengeni The Reserve Bank of Zimbabwe has said bond notes in circulation have increased to $102 million as the central bank continues to pay out the Afreximbank-backed $200 million export incentive. In an interview with The…

Demand for bond notes hits sky high

By Gift Phiri In an unexpected development, Zimbabweans are stampeding to their banks in large numbers to withdraw the newly-introduced bond notes. For the third day running yesterday, stressed banks battled to cope with the long queues…

Banks face foreign payments backlog

By Paul Nyakazeya The depletion of banks’ nostros accounts has created serious settlement problems for international payments, resulting in most banks having a backlog for telegraphic transfers (TTs) going back as far as April this year,…