RBZ increases export incentive from 5 percent to 12 percent

The Reserve Bank of Zimbabwe (RBZ) has increased the export incentive from 5 percent to a minimum of 12 percent for top exporters. The amount will be determined on a case by case basis although the central bank revealed that it has gone as high as 17.5 percent, and is willing to go up to 20 percent.  Since the introduction of bond notes last year, the central bank has been paying out exporters as well as people who receive foreign currency an incentive.

RBZ head exchange control directorate Mr Farai Masunda said:

The Reserve Bank of Zimbabwe has considered and approved an accelerated export incentive above five percent up to 12 percent and above on a case by case basis.


Are you in Zimbabwe?
Read Pindula News without data on your phone on freedata.pindula.co.zw
 
Only Applicable to Econet lines

#FreeData

here are cases where we have gone up to 17,5 percent. The issue is merit and whether we are financing exports that are making impact on our economy. We don’t want to give someone who is exporting 100 items only but we would have created a precedence. So we can consider if you justify your requirements and why you need more and we will consider that.

This shows the significance we attach to generating this foreign exchange. We, therefore, need to identify strategies to diversify exports and not have concentration of mineral exports.

We need to increase productivity and inculcate an exporting culture and push the product beyond border and generate foreign exchange.

 

More: Sunday News

 

Reserve Bank of ZimbabweRBZBond Notes

The Reserve Bank of Zimbabwe (RBZ) is the central bank of Zimbabwe. Its offices are located at number 80 Samora Machel Avenue in Harare. The Reserve Bank of Zimbabwe operates under the Reserve Bank of Zimbabwe Act, Chapter 22: 15 of 1964. The Act provides... Read More About Reserve Bank of Zimbabwe

The Reserve Bank of Zimbabwe (RBZ) is the central bank of Zimbabwe. Its offices are located at number 80 Samora Machel Avenue in Harare. The Reserve Bank of Zimbabwe operates under the Reserve Bank of Zimbabwe Act, Chapter 22: 15 of 1964. The Act provides... Read More About RBZ

Bond Notes are a currency of notes backed by a bond that the Zimbabwe government announced on 4 May 2016 by Reserve Bank of Zimbabwe (RBZ) governor John Mangudya. The $2 denomination of the notes was finally introduced on 28 November 2016. More notes were... Read More About Bond Notes

Join WhatsApp & Telegram News Groups:

WhatsApp Group: https://chat.whatsapp.com/CrclqOusvfpKaMIqNj5pvC


Telegram Group: https://t.me/pindula

Back to top

Write a Comment

Your email address will not be published.


Share Full Post

Nyaradzo logo

RSS Recent Profiles Created

Satisfaction survey
How likely is it that you would recommend Pindula News to a friend or colleague?
SuggestionsHow can we improve?
You have already submitted your feedback. If you would like to add more feedback please write us on hello@pindula.com.
RBZ increases export incentive from 5 percent to 12 percent