Freedom is important

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I will always recall a statement in a national executive meeting of the MDC in its early days when one of our elder statesmen, who was a senior Zanla war veteran, stood up and simply stated “freedom is important”. Just that he stated it as a primary truth which had application in all areas of party policy and activity. The fight for liberation throughout the world has been a struggle for freedom – freedom to choose who will govern us; freedom to choose who we mix with and are associated;…

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RBZ unveils measures to boost investment

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Dr Mangudya Golden Sibanda and Africa MoyoThe Reserve Bank of Zimbabwe (RBZ) yesterday unveiled a raft of interventions, including enhancing nostro stabilisation facilities to support foreign payments, backed by a $1,5 billion kitty to be availed by the Afreximbank, as part of measures to accelerate economic turnaround. Zimbabwe is tying the loose ends to the $1,5 billion funding facility with the Afreximbank to provide security against potential risk of investment, in a bid to stimulate investor confidence. The funds will also be used to provide hard currency support for key external…

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EDITORIAL COMMENT: RBZ measures will bring monetary stability

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THE 2018 Monetary Policy Statement that was presented yesterday by Reserve Bank of Zimbabwe governor Dr John Mangudya, is another clear testimony, the call by President Mnangagwa that Zimbabwe is “open for business” is not just a mantra, but that it has every intention to “walk-the-talk.” In his inaugural speech, President Mnangagwa specified that foreign investors remain key to the country’s economic reform agenda and that all foreign investments will be safe in the country. He repeated the same message when he attended the 2018 World Economic Forum in Davos,…

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Electronic money hits 96pc of transactions

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The use of electronic payment systems will also result in de-congested banking halls Kudzanai Sharara Assistant Business EditorMonetary transactions in the Zimbabwean economy are now dominated by electronic payment systems with more than 96 percent of local transactions now being conducted through plastic, internet and mobile money. While the use of electronic forms of payment came as a result of cash shortages, it puts the country ahead of other countries across the globe that are working towards achieving a cashless society. Presenting the 2018 Monetary Policy Statement (MPS) yesterday, Reserve Bank of…

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99-year leases now bankable, transferable

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Dr John Mangudya Africa Moyo Business ReporterReserve Bank of Zimbabwe (RBZ) Governor Dr John Mangudya yesterday said bankers have agreed to accept 99-year leases as collateral after Government tweaked them to be transferable and bankable. The acceptance of 99-year leases by banks represents a landmark development that is bound to transform the agriculture sector. Banks have previously been rejecting the leases, arguing that they were not transferable, in the event that a farmer borrowed money and failed to repay. But after marathon meetings involving Government, bankers and RBZ, it has been resolved…

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