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Externalisation probe begins

00HARARE Finance and Economic Development Minister Patrick Chinamasa has said government has started investigations to identify individuals and companies involved in externalising foreign currency from Zimbabwe and in turn fuelling the current cash crisis. Zimbabwe is battling an acute cash shortage attributed to several factors chiefly externalisation and low exports. The country’s monetary authorities have…

Cafca says ops under threat due to forex shortages

00Cafca says ops under threat due to forex shortages HARARE – CAFCA Limited says its raw material stock turn covers until this February and there are fears that further delays in foreign receipt payments will see the company run out of some products in March and April. Managing Director Rob Webster in a trading update…

RBZ releases $15 mln in $5 bond notes

00RBZ releases $15 mln in $5 bond notes HARARE – The $5 bond note has entered into circulation with the Reserve Bank of Zimbabwe saying $15 million has been released as export incentives. Governor Dr John Mangudya told Finx the release brings the total amount of bond notes in circulation to $94 million (from $79…

Zimra surpasses gross and net revenue targets for January

00Zimra surpasses gross and net revenue targets for January HARARE – The Zimbabwe Revenue Authority (ZIMRA) has surpassed gross and net revenue targets for January by over four percent and three percent  respectively. The Authority collected gross and net revenue amounting to $264.79 million and $262.21 million respectively, against a target of $254.10 million. This translates…

IMF bullish on global outlook

00IMF bullish on global outlook World output will relatively increase by 3.4 percent this year, compared to last year’slower growth of 3.1 percent, says the IMF World Economic Outlook update report released today. “The baseline forecast for the global economy points to a pickup in growth over the rest of the forecast horizon from its…

Ecocash partners TransferTo to improve international remittances

00Ecocash partners TransferTo to improve international remittances HARARE – Econet Wireless Zimbabwe subsidiary Ecocash, has partnered with Cross-Border Mobile Payments Network- TransferTo, to expand its cross-border reach for international remittances The partnership means Zimbabweans living and working away from home, can now send money directly to their friends and families’ EcoCash mobile wallets. Econet Wireless…

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