HARARE (Reuters) – Zimbabwe will introduce local bank notes, known as “bond notes”, at the end of October, the central bank governor said on Thursday, raising fears of a return to a domestic currency abandoned in 2009 due to hyperinflation.
Zimbabwe will circulate the equivalent of $75 million in the notes by the end of the year, Governor John Mangudya said, adding that the bank was still “very far” from re-introducing a local currency.
Mangudya said the central bank had agreed with domestic banks that interest rates should be capped at 15 percent.
Old Mutual Zimbabwe’s Central African Buildings Society (CABS) doubled its net surplus to $20.75 million from $10.63 million last year, on the back of improved loan recoveries amid restricted lending.
HARARE - United Family International Church (UFIC) leader Emmanuel Makandiwa on Friday night gave a tub-thumping sermon in Mt Hampden, encouraging the country to move towards adopting its own currency ...
INTERNATIONAL banks are terminating working relations with their local counterparts, in a move that will affect the importation of cash and payments to foreign suppliers.
BY VICTORIA MTOMBA
In his mid-term fiscal ...
HARARE, – Banking workers on Tuesday picketed the BancABC offices in Harare’s Central Business District, protests over its treatment of retrenched former employees.
BancABC dismissed 75 employees in 2015, taking advantage ...
THE rand continued firmer against the dollar late on Monday, breaching the R14/$ level as investors awaited Thursday’s Reserve Bank’s repo-rate decision.
The US Federal Reserve and Bank of Japan central ...
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