Zimbabwe Starts Currency Trading in Bid to End Dollar Dearth; RBZ says initial rate 2.5 per U.S. dollar

Zimbabwe Starts Currency Trading in Bid to End Dollar Dearth; RBZ says initial rate 2.5 per U.S. dollar 34

By Bloomberg News Zimbabwe began formal trading of what’s effectively a new currency as it tries to ease a shortage of dollars that’s crushed the economy. The initial rate for the southern African nation’s currency, known as RTGS dollars, will be 2.5 per U.S. dollar, central bank Governor John Mangudya told business leaders Friday in Harare, the capital. The rate was agreed on with commercial lenders, he said. Ecobank Transnational Inc.’s local unit and Steward Bank Ltd. were among lenders quoting prices, with rates between 2.44 per dollar and 2.53.…

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“No To Dialogue Without Chamisa”: Dr Noah Manyika

“No To Dialogue Without Chamisa”: Dr Noah Manyika 36

By Own Correspondent| Build Zimbabwe Alliance president Noah Manyika has vowed not to attend the dialogue meeting for Zimbabwean political parties initiated by President Emmerson Mnangagwa if opposition leader Nelson Chamisa is not in attendance. The meeting slated for State House today (Friday) is the second one following the first one held last month which was snubbed by Chamisa. Manyika argued that dialogue without an independent convener and without Chamisa and the MDC Alliance will not meet the credibility test. Said Manyika: “I was invited to a second meeting at…

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Mthuli Ncube Commits 2 Percent Tax Towards Building Schools, Paying Teachers And Nurses

Mthuli Ncube Commits 2 Percent Tax Towards Building Schools, Paying Teachers And Nurses 38

Finance Minister Professor Mthuli Ncube has announced the two percent tax deemed prohibitive by many will be used to build new schools, roads and making sure nurses, teachers and doctors are paid wages they deserve. Ncube said the new tax will also be used to improve the economy, boasting that shop shelves are full. Income from 2 % tax will also be used to rejuvenate and improve the new #Zimbabwe; building schools, roads and making sure our nurses, doctors and teachers receive the wages they deserve. Shelves in shops are…

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LATEST- Thabitha Khumalo Jets Into UK

LATEST- Thabitha Khumalo Jets Into UK 40

By A Correspondent| The MDC National Chairperson Hon Thabitha Khumalo has jetted into the UK. She will be meeting structures here, ZimEye can reveal. In the picture on the left is Elizabeth Busuman, the MDC fundraising committee member and Mcini Dhlodhlo, the Oxford chairperson. – MORE TO FOLLOW… Tabitha Khumalo.(middle) If our services have assisted you, our work would be much more secure with your help – For as little as £5, you can support ZimEye – and it only takes a minute.  Source: Zimeye

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MDC National Council In Crunch Meeting

MDC National Council In Crunch Meeting 43

By Own Correspondent| The MDC national council is today in a crunch meeting to discuss the state of affairs in the party and the country’s crisis. Said Luke Tamborinyoka who is the MDC Director of Communications: The MDC national council, the party’s supreme-decision-making body between Congresses,is meeting today to discuss the health of the party and the crisis affecting ordinary Zimbabweans, among a host of other issues. Of concern to the party is the on-going onslaught against ordinary Zimbabweans, which has seen the arrest and harassment of innocent citizens, including…

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Zim Banks Begin Trading In US Dollars At $1 to RTGS$2.50 But….

Zim Banks Begin Trading In US Dollars At $1 to RTGS$2.50 But…. 45

Own Correspondent|Zimbabwe’s banks on Friday started trading a new currency with corporate clients and individuals, although interbank trading won’t begin until Monday, a banking source said. Zimbabwe’s central bank announced on Wednesday it would scrap the official 1:1 peg between its quasi-currency bond note and the U.S. dollar, launching a new currency known as RTGS dollars. The central bank began selling U.S. dollars to banks on Friday morning at a rate of 2.5 RTGS to the greenback according to sources. The rate is however being heavily resisted by individuals intending…

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LATEST: Kudzayi Edmund “Baba Jukwa” arrested in Harare

LATEST: Kudzayi Edmund “Baba Jukwa” arrested in Harare 47

file: kudzayi edmund HARARE: Former Sunday Mail editor Edmund Kudzayi is currently in police custody after he was reportedly arrested for possessing a camouflage umbrella. Kudzayi was arrested Friday morning and is being detained at Borrowdale police station.Kudzayi has been charged under Section 32 of the Criminal Law (Codification and Reform) Act: “unlawful possession of a camouflage uniform”. The arrest comes after the Zimbabwe National Army announced that it is conducting a snap search on residential areas to search for military regalia that was stolen during the January 14 mass…

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“Mnangagwa Under Pressure To Reshuffle Cabinet”: Claims Report

“Mnangagwa Under Pressure To Reshuffle Cabinet”: Claims Report 49

By Own Correspondent| A report by a local publication has reported that President Emmerson Mnangagwa is under pressure from senior Zanu PF stalwarts to reshuffle his cabinet. The disgruntled officials are those believed to have fought in Mnangagwa’s corner in the race to succeed Mugabe. They now feel that they should have their day in the sun as the current cabinet has failed to deliver. Presidential spokesperson George Charamba said that he is not aware of an imminent cabinet reshuffle. He is quoted as saying: “Not that he would tell…

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Blackmarket Money Changers Not Sure Of Their Future

Blackmarket Money Changers Not Sure Of Their Future 51

Correspondent|Illegal foreign currency (forex) dealers were on tenterhooks yesterday as they weighed their options in the wake of new measures by the RBZ that seek to eradicate parallel market activities. This has set the stage for the RTGS dollar’s sharp devaluation on the official market. Parallel market rates remained stable yesterday following the decision by Reserve Bank of Zimbabwe Governor, Dr John Mangudya to liberalise the United States dollar exchange rate against Real Time Gross Settlement balances. The containment of the parallel market rate has been described by economic analysts…

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Mnangagwa Who Announced On ZBC He’ll Always Use The Military To Change Election Results, Is A STATE or / A SELF PRESIDENT?

Mnangagwa Who Announced On ZBC He’ll Always Use The Military To Change Election Results, Is A STATE or / A SELF PRESIDENT? 53

MNANGAGWA IS A STATE / or A SELF PRESIDENT? — ZimEye (@ZimEye) February 22, 2019 Mnangagwa calls for dialogue with himself talking about himself for himself discussing himself and Chamisa must join the discussion — Simba Chikanza (@schikanza) February 22, 2019 If our services have assisted you, our work would be much more secure with your help – For as little as £5, you can support ZimEye – and it only takes a minute.  Source: Zimeye

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