ZIMBABWE’S national payment system, Zimswitch, says card fraud cases have gone down after efforts it extended in partnership with the Reserve Bank of Zimbabwe (RBZ) and the National Prosecuting Authority (NPA), to plug loopholes. It comes as instances of card cloning had risen dramatically in the country with the police recording more than 600 cases…
A LOCAL firm has partnered with Sadc’s Centre for Coordination of Agricultural Research and Development for Southern Africa in an €180 000 European Union (EU)-funded programme aimed at ramping up production in the agriculture sector and mitigating the impact of the Covid-19 pandemic on livelihoods. This comes as Zimbabwe’s agriculture sector suffered a massive drought…
THE Reserve Bank of Zimbabwe (RBZ) this week re-licensed Lion Microfinance (Lion) to resume operations following the lifting of the micro-lender’s curatorship at the end of September. Lion was placed under curatorship in July last year on account of “undercapitalisation and weak management,” and in January this year, seasoned banker Lynn Mukonoweshuro lost a legal…
THERE are growing fears about the long-term viability of Beitbridge Border Post, with Zimbabwe continuing to lose millions of dollars in revenue a month due to bottlenecks at the vital cargo port. This comes as a frustrated Federation of East and Southern African Road Transport Associations (FESARTA) has revealed that regional transport operators are losing…
THE government has exempted payments for the importation of goods and services from the two percent Intermediated Money Transfer Tax (IMTT). The exemption also covers transfer of funds involved in the Reserve Bank of Zimbabwe’s (RBZ) foreign currency auctions, and payments. This follows the promulgation in October, of a statute that extended the IMTT to…
Zimbabwe should consider a gradual shift from reliance on coal in line with international trends and invest in clean renewable energy sources, experts have said. Speaking during The Financial Gazette’s executive dialogue held under the theme, “International coal ban: The future of Zimbabwe’s coal mining” last week, Melania Chiponda a coal expert, said Zimbabwe should…
THE Reserve Bank of Zimbabwe (RBZ) has raised a red flag over “low standards” in know-your-customer (KYC) and customer-due-diligence (CDD) practices within the local banking industry. Speaking at the Institute of Bankers of Zimbabwe’s 2020 Summer School in Harare last week, RBZ governor John Mangudya said the industry should comply with international best practices. “We…
ZIMBABWE Regulatory Authority (Zera) chief executive officer Edington Mazambani says the electricity tariff regime is still not cost-reflective despite three successive 50 percent increases this year. Speaking during an online engagement with the Zimbabwe National Chamber of Commerce (ZNCC), Mazambani said the current power tariff was sub-optimal and does not encourage investment into the energy…
FINANCE minister Mthuli Ncube says the government will starting in January next year, list debt instruments on local exchanges to reduce costs and to broaden Zimbabwe’s capital markets. The country’s three securities exchanges — the Zimbabwe Stock Exchange (ZSE), the Financial Securities Exchange (FINSEC) and the Victoria Falls Stock Exchange (VFEX) — currently do not…
THREE-time Grand Slam tennis winner Andy Murray believes Formula 1 champion Lewis Hamilton deserves to join him as a British sporting knight. Reports have suggested that Hamilton, who won a record-equalling seventh title last week, will be awarded a knighthood in the New Year Honours. “In terms of what he has achieved as an athlete, of…
This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Read More