Zimbabwe’s foreign exchange situation is getting worse in spite of extensive touting of a ‘nostro-stabilisation’ loan the Reserve Bank of Zimbabwe says it got from Afreximbank.
Buhera South Member of Parliament Joseph Chinotimba has asked why fuel in Zimbabwe is so expensive while that in Zambia is much cheaper yet it is transported through Zimbabwe?
Zimbabwe’s gross revenue collections in the quarter ended September amounted to $1.03 billion surpassing the target of $863 million by 19 percent, the tax agency said today.
The Zimbabwe Stock Exchange’s mainstream index closed in the red for the first time in 18 days yesterday, shedding 0.21 percent to 515.95 points.
Malawi’s First Merchant Bank ( FMB) intends to invest at least $15 million in Barclays Bank Zimbabwe, with $6 million of that earmarked to upgrade the bank’s information technology (IT) systems, chairman Hitesh Anadkat said today.
The value of transactions processed through the National Payment System (NPS) in the first week of October declined by 14 percent from $2.3 billion in the previous week to $1.9 billion due to a decline in Real Time Gross Settlement (RTGS) transactions.
Zimbabwe is targeting to halve its budget deficit to four percent of the country’s Gross Domestic Product (GDP) next year, with growth expected to slow to 3 percent, according to a treasury strategy.