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Director General (Harare)

The Government has availed, through Kuvimba Mining House, US$400 000 to the Deposit Protection Commission (DPC) to compensate small and vulnerable depositors whose bank deposits lost value when monetary authorities arbitrarily moved the exchange rate from US$1: $1 to US$1: $2.5 in February 2019.
In November 2020, Finance Minister Mthuli Ncube announced that the Government will compensate small and vulnerable depositors who had balances of US$1 000 and below as of 20 February 2019.
The initial tranche of US$400 000 has been allocated to eligible depositors who had funds in the Deposit Taking Microfinance Institutions (DTMFIs).
The depositors will receive compensation to the full extent of their respective loss of value, and not the full amount they had deposited.
For instance, a depositor who had US$1 000 in his or her account will get only US$600.
In a statement, DPC chief executive officer Mr Vusi Vuma confirmed receipt of the US$400 000 and urged those eligible are to submit their claims to DTMFIs, with their window period to do so set to expire on 7 November 2022. He said:
<blockquote>
Government has now availed through Kuvimba Mining House the sum of US$400 000 to the Deposit Protection Corporation as an agent for distribution to vulnerable depositors.
Given the available resources, several scenarios were iteratively evaluated to identify a method that offers the best compensation to depositors.
The Deposit Protection Corporation wishes to advise the banking public that in the meantime, the initial tranche of US$400 000 will be allocated to eligible depositors who had balances of US$1 000 and below in the Deposit-Taking Microfinance Institutions, to pay for the loss of deposit value occasioned by exchange rate movement from USD1: 2,5, as at 20 February 2019.
Accordingly, qualifying depositors are advised to submit their claims as of 20 February 2019 within a period of 12 months running from 8 November 2021 to 7 November 2022 to their respective registered Deposit-Taking Microfinance Institutions namely: African Century Limited; Getbucks Microfinance Bank; EmpowerBank Limited; Zimbabwe Women’s Microfinance Bank; Success Microfinance Bank Limited; and Lion Microfinance Limited.
The Deposit-Taking Microfinance Institutions will periodically submit the schedule of claims to the Deposit Protection Corporation for verification, validation, and subsequent remittance of the requisite payment to the Deposit-Taking Microfinance Institutions for onward settlement to eligible depositors in USD without incurring transaction costs.
The Minister of Finance and Economic Development, Deposit Protection Corporation, the Reserve Bank of Zimbabwe, and the banking sector have reached an agreement in that regard.
After compensating depositors of Deposit-Taking Microfinance Institutions, subsequent tranches for disbursement would be allocated to remaining deposit-taking institutions namely commercial banks, building societies, savings banks, and infrastructure banks, as and when additional funds are availed.
</blockquote>
<h4>More: <a href="https://www.sundaynews.co.zw/govt-to-pay-us-to-depositors/">The Sunday News</a></h4>

Pindula News

USD Compensation For Depositors Who Lost Savings Due To De-dollarisation

<blockquote>
<h2>PROPOSED AMALGAMATION OF CBZ BANK LIMITED &amp; CBZ BUILDING SOCIETY</h2>
IT is hereby notified, in terms of section 25(4) of the Banking Act (Chapter 24:20), that CBZ Bank Limited and CBZ Building Society, both incorporated under the laws of Zimbabwe and carrying on banking business, have applied to the Minister of Finance &amp; Economic Development in terms of section 25(2) of the Banking Act, for his approval of the amalgamation of CBZ Bank Limited and CBZ Building Society.
CBZ Bank Limited is registered as a banking institution under the Banking Act while CBZ Building Society is registered as a building society under the Building Societies Act (Chapter 24:02). Both institutions are subsidiaries of CBZ Holdings Limited.
In order to facilitate the amalgamation of the two (2) institutions, CBZ Bank Limited and CBZ Building Society’s assets, liabilities and equity, the two institutions propose to consolidate under one entity, CBZ Bank Limited, in conformity with a Memorandum of Agreement that they have entered into. Subsequent to the merger, CBZ Building Society will cease to exist as an entity.
The Memorandum of Agreement in terms of which the amalgamation is to be effected will be open for inspection by members of the public for a period of 21 days from the date of publication of this notice in the Government Gazette at the following offices:
CBZ Bank Limited 
3rd Floor, Union House 60 
Kwame Nkrumah Avenue 
Harare
This notice was published in the Government Gazette of 28 January 2022.
Any person who has any objection to the proposed amalgamation or intends to make representations or objections in connection therewith is required to lodge the same, in writing, with the Registrar of Banking Institutions, at 80 Samora Machel Avenue P. O. Box 1283, Harare, within twenty-one (21) days of the date of publication of this notice in the Government Gazette.
                                                    Registrar of Banking Institutions
<img alt="Image" decoding="async" src="https://pbs.twimg.com/media/FKRXN8dXMAAqDtd?format=jpg&amp;name=900x900"/>
</blockquote>
<h4>More: <a href="https://news.pindula.co.zw/">Pindula News</a></h4>

FULL TEXT: RBZ Statement On The Proposed Amalgamation Of CBZ Bank Limited & CBZ Building Society

The price of fertiliser has gone up again, with a 50kg bag of ammonium nitrate now priced at between US$55 and US$70, up from US$37.
The price hike comes at a time when the product is in huge demand following incessant rains that have been pounding most parts of the country, resulting in heavy leaching of soil nutrients.
In a statement on Friday, the Zimbabwe Farmers Union (ZFU) bemoaned the increase in the price of fertilisers, saying it has increased the cost of production. The statement read in part:
<blockquote>
There has been a significant rise in agricultural input prices, especially fertilizers to be more specific, nitrogenous fertilizers.
This has greatly increased the cost of production of most agricultural enterprises if not all.
Persistent rain the country is currently experiencing even increases the requirements of nitrogenous fertilizers as leaching increases.
</blockquote>
In April last year, local fertiliser manufacturers said the shortage of foreign currency had hampered production.
They said the Reserve Bank of Zimbabwe (RBZ)’s foreign currency auction system was failing to meet their needs.
<h4>More: <a href="https://www.newsday.co.zw/2022/01/fertilizer-prices-go-up-again/">NewsDay</a></h4>

Fertiliser Prices Hiked, Again

Zimbabwe’s yearly and monthly rates of inflation have marginally declined, the latest data from the Zimbabwe National Statistics Agency (ZIMSTAT) showed.
According to Zimstat, the month-on-month inflation rate for January 2022 fell to 5.34% after shedding 0.42% in December.
The year-on-year inflation for January 2022 also retreated from 60.74% last December to 60.61%. Zimstat said:
<blockquote>
The month-on-month inflation rate in January 2022 was 5.34 per cent shedding 0.42 percentage points on the December 2021 rate of 5.76 per cent.
The year-on-year inflation rate (annual percentage change) for the month of January 2022 as measured by the all-items Consumer Price Index (CPI) stood at 60.61 per cent.
The CPI for the month ending January 2022 stood at 4,189.97 compared to 3,977.46 in December 2021 and 2,608.79 in January 2021.
The month-on-month inflation rate in January 2022 was 2.73 per cent gaining 0.67 percentage points on the December 2021 rate of 2.06 per cent.
The year-on-year inflation rate (annual percentage change) for the month of January 2022 as measured by the all items blended Consumer Price Index (CPI) stood at 24.88 per cent.
The blended CPI for the month ending January 2022 stood at 138.02 compared to 134.35 in December 2021 and 110.52 in January 2021.
The Food Poverty Line #FPL for one person in January 2022 was $6,153.00
The Total Consumption Poverty Line #TCPL for one person stood at $8,496.00 in January 2022.
</blockquote>
<h4>More: <a href="https://news.pindula.co.zw/">Pindula News</a></h4>

Zimbabwe's Inflation Levels Fall Marginally

The Zimbabwe Electricity Transmission and Distribution Company (ZETDC) has apologised after its customers countrywide experienced challenges in using its Self-Service Portal for the purchase of electricity and other related services. ZETDC, a subsidiary of the Zimbabwe Electricity Supply Authority (ZESA) issued a statement on Thursday announcing that they were seized with the matter. Pindula News presents ZETDC’s statement:
<blockquote>
<h2>NOTICE TO OUR VALUED CUSTOMERS</h2>
The Zimbabwe Electricity Transmission and Distribution Company (ZETDC) would like to apologise to its valued customers countrywide for the inconvenience that they are facing in utilizing the Self-Service Portal for the purchase of electricity and other related services.
The technical challenges have also affected the purchase of electricity meters at all suppliers under the Customer Supplied Prepaid Meter Scheme.
Our Technical specialists are working to restore normal service. The inconvenience caused is sincerely regretted Stakeholder Relations (27/01/2022).
For more information contact us on:
Email : contactcentre@zetdc.co.zw Twitter : @ZetdcOfficial Facebook :@Zetdcofficial Website : www.zetdc.co.zw WhatsApp : +263719219977;0715519387;0715519389 
</blockquote>
<h2>More: <a href="https://news.pindula.co.zw/">Pindula News</a></h2>

ZESA Apologises Over Challenges In Purchasing Electricity

The value of the Zimbabwe dollar has continued to fall against the US dollar at <a href="https://www.pindula.co.zw/Reserve_Bank_of_Zimbabwe">the Reserve Bank of Zimbabwe (RBZ)</a> foreign currency (forex) auction.
Data released by the central bank following the forex auction conducted on Tuesday, 25 January 2022 indicates that the local currency fell by $2.5995 against the US dollar.
This week the weighted average was US$1: ZWL$115.4223 down from the 18 January rate that stood at US$1: ZWL$112.8228.
In total, US$38 775 772.07 was allotted this week, with the bulk of the allotment going to raw materials followed by machinery and equipment. This is significantly higher than the US$30 866 275.90 million allotted last week.
906 bids were received on the Small to Medium enterprises forex auction, with 697 accepted and 209 disqualified. The total number of bids allotted was 697.
<div class="google-auto-placed ap_container">
On the main forex auction, a total of 537 bids were received, 422 were accepted and 115 were disqualified. The total number of bids allotted was 422.
Bids with overdue CDIs, outstanding Bills of Entry (BOEs), and those with sufficient FCA balances were also disqualified.
Some bids were also allotted on a pro-rata basis.
<table class="table table-bordered table-hover" id="table_2" style="width: 94.4215%;">
<tbody>
<tr>
<td style="width: 46.6667%;" title="Character Accurarcy=99.91">Number of Bids Received</td>
<td style="width: 24.8485%;" title="Character Accurarcy=99.96">906</td>
<td style="width: 80.5961%;" title="Character Accurarcy=99.97">537</td>
</tr>
<tr>
<td style="width: 46.6667%;" title="Character Accurarcy=99.89">Number of Bids Disqualified</td>
<td style="width: 24.8485%;" title="Character Accurarcy=99.95">209</td>
<td style="width: 80.5961%;" title="Character Accurarcy=99.95">115</td>
</tr>
<tr>
<td style="width: 46.6667%;" title="Character Accurarcy=98.2">Total Number of Bids Accepted :</td>
<td style="width: 24.8485%;" title="Character Accurarcy=99.99">697</td>
<td style="width: 80.5961%;" title="Character Accurarcy=99.97">422</td>
</tr>
<tr>
<td style="width: 46.6667%;" title="Character Accurarcy=99.01">Total Number of Bids Allotted :</td>
<td style="width: 24.8485%;" title="Character Accurarcy=99.96">697</td>
<td style="width: 80.5961%;" title="Character Accurarcy=99.95">422</td>
</tr>
<tr>
<td style="width: 46.6667%;" title="Character Accurarcy=99.14">Total Value of Bids Accepted :</td>
<td style="width: 24.8485%;" title="Character Accurarcy=98.78">USD6,153,778.39</td>
<td style="width: 80.5961%;" title="Character Accurarcy=98.31">USD32,621,993.68</td>
</tr>
<tr>
<td style="width: 46.6667%;" title="Character Accurarcy=97.79">Amount Allotted :</td>
<td style="width: 24.8485%;" title="Character Accurarcy=90.54">JSD6,153,778.39</td>
<td style="width: 80.5961%;" title="Character Accurarcy=99.17">USD32,621,993.68</td>
</tr>
<tr>
<td style="width: 46.6667%;" title="Character Accurarcy=98.51">Highest Rate Received :</td>
<td style="width: 24.8485%;" title="Character Accurarcy=98.07">130.0000</td>
<td style="width: 80.5961%;" title="Character Accurarcy=99.5">130.0000</td>
</tr>
<tr>
<td style="width: 46.6667%;" title="Character Accurarcy=99.34">Lowest Bid Rate Received :</td>
<td style="width: 24.8485%;" title="Character Accurarcy=98.58">106.0000</td>
<td style="width: 80.5961%;" title="Character Accurarcy=99.07">107.0000</td>
</tr>
<tr>
<td style="width: 46.6667%;" title="Character Accurarcy=99.46">Lowest Bid Rate Allotted :</td>
<td style="width: 24.8485%;" title="Character Accurarcy=95.46">106.0000</td>
<td style="width: 80.5961%;" title="Character Accurarcy=97.75">107.0000</td>
</tr>
<tr>
<td style="width: 46.6667%;" title="Character Accurarcy=99.2">Weighted Average Rate :</td>
<td style="width: 24.8485%;" title="Character Accurarcy=97.02">115.4223</td>
</tr>
</tbody>
</table>
<table class="table table-bordered table-hover" id="table_1" style="width: 95.7557%;">
<tbody>
<tr>
<td style="width: 43.1515%;" title="Character Accurarcy=99.79">PURPOSE</td>
<td style="width: 27.2727%;" title="Character Accurarcy=99.42">AMOUNT ALLOTTED SME AUCTION</td>
<td style="width: 24.1065%;" title="Character Accurarcy=99.56">AMOUNT ALLOTTED MAIN AUCTION</td>
</tr>
<tr>
<td style="width: 43.1515%;" title="Character Accurarcy=99.96">Raw Materials</td>
<td style="width: 27.2727%;" title="Character Accurarcy=99.82">1,219,985.38</td>
<td style="width: 24.1065%;" title="Character Accurarcy=99.8">15,075,011.73</td>
</tr>
<tr>
<td style="width: 43.1515%;" title="Character Accurarcy=99.97">Machinery and Equipment</td>
<td style="width: 27.2727%;" title="Character Accurarcy=99.91">1,927,856.57</td>
<td style="width: 24.1065%;" title="Character Accurarcy=99.9">8,367,681.17</td>
</tr>
<tr>
<td style="width: 43.1515%;" title="Character Accurarcy=99.77">Consumables (Incl. Spares, Tyres, Electricals, etc)</td>
<td style="width: 27.2727%;" title="Character Accurarcy=99.9">967,713.63</td>
<td style="width: 24.1065%;" title="Character Accurarcy=99.92">2,882,019.59</td>
</tr>
<tr>
<td style="width: 43.1515%;" title="Character Accurarcy=94.98">Services (Loans, Education, Dividends, Disinvestments, etc)</td>
<td style="width: 27.2727%;" title="Character Accurarcy=99.76">1,195,329.76</td>
<td style="width: 24.1065%;" title="Character Accurarcy=99.85">1,749,583.84</td>
</tr>
<tr>
<td style="width: 43.1515%;" title="Character Accurarcy=96.52">Retail and Distribution (Incl. Food, Beverages, etc)</td>
<td style="width: 27.2727%;" title="Character Accurarcy=99.84">439,023.08</td>
<td style="width: 24.1065%;" title="Character Accurarcy=99.57">2,174,100.12</td>
</tr>
<tr>
<td style="width: 43.1515%;" title="Character Accurarcy=99.94">Electricity</td>
<td style="width: 27.2727%;" title="Character Accurarcy=95.39">–</td>
<td style="width: 24.1065%;" title="Character Accurarcy=96.06">–</td>
</tr>
<tr>
<td style="width: 43.1515%;" title="Character Accurarcy=99.72">Pharmaceuticals and Chemicals</td>
<td style="width: 27.2727%;" title="Character Accurarcy=99.9">250,416.84</td>
<td style="width: 24.1065%;" title="Character Accurarcy=99.88">1,700,372.52</td>
</tr>
<tr>
<td style="width: 43.1515%;" title="Character Accurarcy=99.96">Paper and Packaging</td>
<td style="width: 27.2727%;" title="Character Accurarcy=99.51">153,453.13</td>
<td style="width: 24.1065%;" title="Character Accurarcy=99.55">673,224.71</td>
</tr>
<tr>
<td style="width: 43.1515%;" title="Character Accurarcy=99.93">TOTAL</td>
<td style="width: 27.2727%;" title="Character Accurarcy=99.93">6,153,778.39</td>
<td style="width: 24.1065%;" title="Character Accurarcy=99.88">32,621,993.68</td>
</tr>
<tr>
<td style="width: 43.1515%;" title="Character Accurarcy=99.78">GRAND TOTAL AWARDED</td>
<td style="width: 27.2727%;" title="Character Accurarcy=99.85">38,775,772.07</td>
</tr>
</tbody>
</table>
</div>
<img alt="Image" decoding="async" src="https://pbs.twimg.com/media/FJ9DfUQWYAcX06f?format=jpg&amp;name=900x900"/>
<h4>More: <a href="https://news.pindula.co.zw/">Pindula News</a></h4>

RBZ Forex Auction Results – 25 January 2022

<h2>Business Review Meeting Between The Reserve Bank Of Zimbabwe and Captains of Industry and Commerce on Measures to Promote Price Stability Within The Economy</h2>
The Reserve Bank of Zimbabwe (the Bank) and leaders of the Zimbabwe business community met on 21 January 2022 to take stock and review resolutions and commitments made at their meeting of 11 October 2021. 
The consultative engagement was for parties to deliberate on how to enhance price stability within the economy. The following key developments during 2021 were noted: – 
(i) The outturn for 2021 was generally good with year on year inflation ending the year at 60.7% from 348.6% recorded in 2020. 
(ii) Local manufacturing production went up and around 80% of products on the market were locally produced. 
(iii) The auction system continued to play its key role of being a dependable source of foreign exchange for the key sectors of the economy. 
(iv) Government remained focused on fiscal sustainability and did not borrow from the Bank. 
(v) The Bank contained the growth of money supply to anchor inflation and exchange rate expectations. 
(vi) The country’s monetary system is largely constituting of local currency, with 56% of banking sector deposits being local currency, with the balance of 44% being foreign currency. In this regard, the current practice by business of competing for foreign currency sales through using a penal exchange rate to discourage consumers from paying in local currency is punishing consumers and stoking adverse inflationary pressures, which is detrimental to the economy at large. 
(vii) Agricultural outturn improved with significant deliveries and stockpiles of maize and wheat sufficient to meet domestic consumption requirements. (viii) Foreign currency receipts from exports, remittances and loans reached US$9.7 billion in 2021. 
(ix) The provisions of SI 127 of 2021 were refined, and incorporated in the Finance Act no. 7 of 2021, to focus on three areas as agreed at the 11 October 2021 meeting, that is, to deal with abuse of the auction system, to focus on regulating manipulation of the exchange rate and to foster adherence to the Bank Use Promotion Act. 
Following robust and open discussion and contributions, the parties made the following resolutions to stabilise the exchange rate and limit its pass-through effect on inflation: – 
<ol>
<li> Government and the Bank should come up with strategies to enhance the attractiveness of the local currency and strengthen its demand in the context of the multicurrency system currently in place. </li>
<li> The Bank should continue to refine the foreign exchange auction system and to timely fund auction allotments in line with the auction rules. </li>
</ol>
iii. As a way of continuing with efforts to stabilise the economy, there was a need for everyone, through a collective responsibility, to exhibit good leadership and exercise restraint on the volatility of the foreign exchange rate. 
iv. The Bank should continue fighting inflation through restrictive monetary policy and building foreign exchange reserves as a way of augmenting the defence of the value of the local currency. 
<ol>
<li> The relevant regulatory authorities should continue to carry out enhanced due diligence on auction participants and monitor the use of funds obtained through the auction and come down strongly on those who submit fake documents (including invoices and bills of entry) and resort to suspension for periods not less than 6 months and blacklisting. </li>
</ol>
vi. Banks are encouraged and reminded not to be complicit with their delinquent customers. 
vii. Business must ensure compliance with the provisions of Statutory Instrument 127 of 2021 now embedded in the Finance Act (Amendment Number 7 of 2021), with emphasis on avoiding abuse of auction rules and funds from auction allotments; exchange rate manipulation or currency attacks; and Non-compliance with the Bank Use Promotion Act; 
viii. The Government has to come up with appropriate incentives for exporters to improve production and productivity; 
ix. The Financial Intelligence Unit (FIU) should continue penalising currency manipulators and abusers of foreign currency auction rules and breaches of the Bank Use Promotion Act. 
<ol>
<li> The Government has to continue with efforts to reduce the level of informalisation in the economy and to maintain fiscal consolidation. </li>
</ol>
It was agreed that continued dialogue between the authorities and business remained paramount in order to maintain the momentum of stabilising the rate of inflation, the foreign exchange rate and the economy in general, as well as building confidence in the local currency. 
<h4>More: <a href="https://news.pindula.co.zw/">Pindula News</a></h4>

FULL TEXT: Statement By RBZ Governor On Measures To Promote Price Stability

One of Zimbabwe’s leading economists and commentator, <a href="https://www.pindula.co.zw/John_Robertson">John Robertson</a> has died.
Robertson died this morning at his home in Harare after suffering a stroke several weeks ago.
Born 1937 in Bulawayo, Robertson trained at the Technical College and later became a technician with the Air Force, specialising in radio communications.
As a mature student, he enrolled at the University of Rhodesia and obtained an honours degree in economics from London University.
John will be remembered as a fine economist who always supported his opinions and views with substantial research and statistics.
 He also founded and managed an economics consultancy company, Robertson Economics.
He is survived by two sons.
Born 1937 in Bulawayo, Robertson trained at the Technical College and later became a technician with the Air Force, specialising in radio communications. 
More: <a href="https://news.pindula.co.zw/">NewsDay Zimbabwe</a>

Top Economist And Commentator John Robertson Dies

With the cost of education rising, it may not be possible for everyone to go to college in the US. But if you’re able to attend classes online, this article can help you find which universities offer your favourite degrees so that you can study internationally without leaving the country!
Benefits of Online Education
There has been a dramatic increase in online education over the last few decades, which may become one of the primary methods of college education in future years. Employers are looking for college kids with versatile skills who are not limited by geographic sightlines and are willing to take on complex projects. Obtaining a degree or skill set through an online program will prepare you for all of these possibilities. Through the benefits, we can see:
<ul>
<li><a href="https://www.amle.org/is-your-school-schedule-flexible/">Major flexibility</a> and self-paced learning, meaning you’re not dependent on a fixed schedule anymore</li>
<li>Better time management</li>
<li>Demonstrated self-motivation and an ability to show your worth and perseverance abilities</li>
<li>Improved virtual communication and collaboration techniques</li>
<li>A better and more global world view through working with people from different countries and backgrounds</li>
<li>Refined critical-thinking abilities</li>
<li>New technical skills that can help you get the job you want</li>
</ul>
What Not to Do with Your Online Class
Online classes have many advantages. Embarrassingly, you might have been scammed and paid for an online course that doesn’t help your success, but there are always more legit and reliable options to consider. If you are still unsure about whether online education is suitable for you, then maybe it is not wise of you to take the plunge into online learning – at least, not before conducting some non-invasive research on the best tuition institutions.
P.S. – Make sure to get an anonymous opinion before enrolling in online learning online.
How to Choose the Right Online Course
Don’t let the wrong online university fool you. If a school says they don’t require admissions or interviews, this might be a red flag. Take the time to learn about the program and what it has to offer by working with an admissions counsellor. You may not be able to satisfy all your needs, but you should try for at least once. You might be accepted into a university that you might actually enjoy.
Since we’re on this topic, might as well say it – getting accepted into a university in the US is no easy job. However, if you’re coming up with a well-written admissions essay, you might as well get in. Professional writers working for Edubirdie provide a wide range of online services to students in need, including help with admissions, <a href="https://uk.edubirdie.com/report-writing-services">help with writing a report</a>, homework help, or study tips. For students who haven’t yet figured it out, this is your chance to get ahead.
The Best Online Course Universities 
Here are the top online schools you should be looking at:
<ol>
<li>University of Virginia with an ROI score 98.9%</li>
<li><a href="https://www.northeastern.edu/academics/online-learning/">Northeastern University</a> with a ROI score of</li>
<li>Excelsior College with a ROI score of 96.9%</li>
<li>Capella University with a ROI score of 94.8%</li>
<li>SUNY Empire State College with a ROI score of 94.7%</li>
</ol>
How Much Does It Cost?
Online universities can vary in cost and quality. Just remember that international student visa processing takes 2-3 months in the United States so there is a cutoff after which no transcript will be awarded (to anyone who completes their degree program while they are abroad). In any case, you might be looking at an average price of $334 per school credit. This is not very cheap indeed. So…
If you’re not sure what you want to study yet, it might be worth thinking about instead enrolling in a hybrid institution where students have their own professors and education but most courses are online.
Finishing School as an International
Aspiring to finish your education as an international student can be a daunting task. Online universities can save one valuable time, energy and resources by teaching students from around the world. Even with the availability of online education, there has been a lack of individuals who graduate from their school in the United States and attend a university abroad. So, this might be you, right?
Wrapping Up
So, the best online universities in 2022 are the institutions that have been through tough times and have managed to succeed and prosper, along with providing a vast range of opportunities. You can check them out above. Good luck whatever you choose!
Author Bio:
Stella Gary is a freelance writer and investor. She opened her own entrepreneurial blog and makes a passive living. In her free time, Stella likes to draw and sing.

The Best Online Universities in 2022: Don't Miss Your Chance to Become an International Student

Former Finance Minister, Tendai Biti who is also the Vice President of opposition MDC Alliance has criticised Finance Minister Mthuli Ncube for celebrating being named among the best African Finance Ministers when the economy is burning.
Biti speaks after Ncube posted on Twitter announcing that he had been named by a francophone magazine, Financial Afrik, among the top 5 Finance ministers in Africa. 
After the announcement, Ncube immediately took to Twitter, hailing the magazine for its “qualitative analysis of candidates,” there were blowbacks by a string of experts, including Biti and leading economist, Tony Hawkins. Biti told Standardbusiness:
<blockquote>
I find those tweets (by Ncube) so disturbing.
They are pathological, sycophantic. Who blows his own trumpet? The magazine in question, from Senegal, is an innocuous little publication. More than that, it is a very skewered publication. The economy does not need a spokesperson; it speaks for itself. When the economy functions the citizen is happy, buoyant and aggressive. The average Zimbabwean is battered, bitter.
Of all economic indices, there is one thing that doesn’t lie; it is the exchange rate. The exchange rate tells you whether the economy is performing well, whether the stewardship of the economy is in good hands. We have one of the worst exchange rates on the African continent.
You have to have a value system. Humility is so important. You have to have ubuntu. There are those who judge people. We have newspapers that say ‘this is best minister’, let them do that. We have organisations that give awards to ministers, let them do that but you don’t speak. Now, you go pick an unknown publication and say ‘look at me’ I mean it’s really sick.
</blockquote>
Tony Hawkins, a former economics lecturer at the University of Zimbabwe’s Graduate School of Management, said with the second-highest annual inflation rate in the world and a string of unachieved targets, there was little that Ncube could celebrate for. 
Hawkins told Standardbusiness that the value of the currency fell from 100 US cents per dollar at the time Ncube took over to less than one US cent. 
In his Twitter post, Ncube the ministers in the top 5 were judged to have implemented transformative economic policies with results. 
More: <a href="https://thestandard.newsday.co.zw/2022/01/23/blowback-as-ncube-blows-own-trumpet-we-have-one-of-the-worst-exchange-rates-in-africa-says-biti/">The Standard</a>

"It’s Really Sick" - Biti On Ncube Being Ranked Among Top Finance Ministers In Africa

Local Government minister July Moyo has denied allegations that he is pressuring Masvingo’s local authority to surrender a huge piece of land to an Indian investor in a shady deal. 
Reports say Moyo is influencing Masvingo to award 200 hectares of land to SIMBI Steelmakers Group of Companies, a company that already has almost 50 hectares of land for expansion of its workplace.
The company is said to have retrenched some of its workers in 2019 due to financial challenges and is now eyeing a multi-million-dollar project. Logistics Officer, Tabonga Gwerena declined to comment on the matter.
Minister Moyo told NewZimbabwe that he was not involved in the deal in any way. He said :
<blockquote>
I’m not privy to that issue and have never interfered in issues of land allocation in Masvingo or anywhere else. What I am privy to is the promotion of business. Allocation of land is done by the local authority.
</blockquote>
Sources at the Masvingo Town House said some councillors and management staff are vouching for the deal trying to please July Moyo despite warnings the deal could spook other investors and residents.
Reports say the company has rejected a 50-hectare lease offer from the council, maintaining the 200-hectare request which they demanded should come with title deeds to the land.
Recently some council officials were invited by the company where they were notified of how the company would want to utilise the land.
Masvingo mayor Collen Maboke confirmed that a request has been put forward by the company adding “we haven’t reached any decision.” He said the local authority “does not make rushed decisions and we do what is best for the city.”
The proposal comes when the city has a ballooning housing waiting list and a very poorly-performing Industry which they hope to revive by selling Industrial stands that fall within the land identified by the steelmaking company.
More: <a href="https://www.newzimbabwe.com/minister-july-moyo-in-fresh-land-scandal/">NewZimbabwe</a>

Local Govt Minister Denies Pressuring Masvingo To Surrender Land To An Indian Investor

The Zimbabwe Revenue Authority (ZIMRA) has announced that from the 1st of February 2022, its agents will start capturing full truck details on the Bill Of Entry E- Cargo Manifest. Pindula News presents the notice:
<blockquote>
<h2>CAPTURING OF FULL TRUCK DETAILS (HORSE AND TRAILER REGISTRATION NUMBERS) ON BILL OF ENTRY AND ELECTRONIC CARGO MANIFEST</h2>
Zimbabwe Revenue Authority (Z1MRA) wishes to advise all declarants (Clearing Agents) that with effect from 1 February 2022, in addition to capturing the trailer registration number(s), it is now mandatory to also capture the horse registration number on the bill of entry.
The horse registration number shall be entered in box 18 and the trailer registration number (s) shall be captured in box 21.
Clients are encouraged to comply with this requirement as failure to capture full truck details, may result in issuance of Form 45 which will attract accounting fees.
All transporters are required to capture the horse registration number and trailer registration number(s) on registering the electronic cargo manifest. 
</blockquote>
<h2>More: <a href="https://news.pindula.co.zw/">Pindula News</a></h2>

ZIMRA To Start Capturing Full Truck Details On Bill Of Entry E- Cargo Manifest

The Reserve Bank of Zimbabwe (RBZ) has issued an update on Reserve money noting that it increased during the week ending 14 January 2022 compared to the previous weeks’ position. Pindula News presents the central bank’s update:
<blockquote>
1. Reserve money increased by ZW$1.06 billion to ZW$27.18 billion during the week ending 14th January 2022, compared to the previous week’s position of ZW$26.12 billion.
2. The growth in reserve money largely reflected an increase of ZW$1.11 billion and ZW$71.93 million in required reserves and currency issued, respectively.
3. Partially offsetting this increase was a decline of ZW$118.75 million in banks’ liquidity (RTGS balances) at the Central Bank.
<h2>Download: <a href="https://t792ae.c2.acecdn.net/wp-content/uploads/2022/01/Reserve-Money-Update-14-January-2022.pdf">Reserve-Money-Update—-14-January-2022</a></h2>
</blockquote>
<h2>More: <a href="https://news.pindula.co.zw/">Pindula News</a></h2>

RBZ Reserve Money Update As Of The Week Ending 14 January 2022

Zimbabwe and China recently signed a citrus phytosanitary protocol that allows the southern African country to export fruits to the Asian economic giant.
The phytosanitary protocol requires that a cold chain system for the export of fresh citrus fruits to China be put in place for the management of False Codling Moth and other pests.
Unlike the initial requirement for cooling to begin on the farm, this cold chain system is required to begin at the port.
China was represented by the General Administration of Customs of China, Minister Ni Yuefeng while Zimbabwe was represented by Lands, Agriculture, Fisheries, Water and Rural Development Anxious Masuka.
The Chinese embassy in Harare confirmed the development through a post on the microblogging site Twitter. The post read:
<blockquote>
The sweet &amp; juicy Zimbabwean citrus will join the Chinese market as the citrus export protocol have just been signed.
We are implementing President Xi’s pledge that China will open a green channel for the export of African agricultural products. It’ll benefit more Zimbabwean farmers.
</blockquote>
Acting chief director for the Department of Research and Specialist Services Dumisani Kutywayo also confirmed the signing of the agreement. Said Kutywayo:
<blockquote>
The General Administration of Customs of the Peoples’ Republic of China signed first and we followed suit.
We are now educating stakeholders on the requirements to export fresh fruits to China. 
Local stakeholders from the citrus industry have accepted the favourable terms.
</blockquote>
China also agreed to provide technical assistance to Zimbabwe regarding fresh citrus exports to the Chinese market.
This will help Zimbabwe in the monitoring and surveillance of citrus plantations for insect pests and diseases.
Varieties of fresh citrus to be exported to China from Zimbabwe include sweet orange (Citrus sinensis), mandarin orange (Citrus reticulata), grapefruit (Citrus paradisi), lemon (Citrus limon and Citrus aurantifolia) and sour orange (Citrus aurantium).
Orchards and packing houses intending to export citrus to China have been advised to register with the Ministry of Lands for approval by both the Ministry General Administration of Customs China (GACC).
<h4>More: <a href="https://www.herald.co.zw/zim-clinches-lucrative-citrus-deal/">The Herald</a></h4>

Zimbabwe, China Sign Citrus Deal

The price of flour has increased by 6.5% from $112 000 to $119 000 per metric tonne thereby triggering a rise in the price of bread by 15% from $175 to $210.
In a statement on Tuesday, Grain Millers Association of Zimbabwe (GMAZ) chairman Tafadzwa Musarara said the new flour prices were effective from 9 January 2022.
Musarara said the increase in the price of flour was caused by the depreciating local currency against the US dollar, increases in the price of fuel, unreliable power supplies, among other factors. He said:
<blockquote>
The price movement has been occasioned by the upward movement rate on the auction since our last review, increase in fuel, maintenance and running costs, increases in the use of substitute\alternative sources of power due to intermittent ZESA supplies, increases in costs of labour, and increases in the price of imported blending wheat.
</blockquote>
Consumer Council of Zimbabwe (CCZ) acting director Rosemary Mpofu lamented the recent hike in the price of bread, saying the 15% hike was unjustified. She said:
<blockquote>
We are saying that the 15% increase in bread prices is too high. At the beginning of this year, people were complaining about increases in the price of stationery, uniforms and school fees.
The three major bakers in the country, Bakers Inn, Proton and Lobels all increased bread prices, but their overheads are not the same. 
Prices should show that suppliers are competing. What it means is that they are not competing and they do not care about consumers.
… Why is it that their pricing is following the black market rate when they get United States dollars at a cheaper rate?
The price of USD$1 at the black market is $210, and therefore using the RBZ exchange rates, bread should cost at least $150, yet it has gone up to $210 per loaf.
</blockquote>
<h4>More: <a href="https://www.newsday.co.zw/2022/01/bread-price-up-15/">NewsDay</a></h4>

Bread Price Hike Unjustified, Says Consumer Council Of Zimbabwe

Zimbabwe’s Finance and Economic Development Minister, Professor Mthuli Ncube has expressed delight after being voted and ranked in the top 5 Ministers of Finance in Africa in 2021 by a French publication, Financial Afrik. He said:
<blockquote>
I am very pleased to have been voted and ranked in the top 5 Ministers of Finance in Africa in 2021 by the French publication “Financial Afrik”. This is based on a popular vote and qualitative analysis of candidates, and considered by a jury.
The list of the top 5 Finance Ministers ranked in FINANCIAL AFRIK include those of Mauritania, Benin, Nigeria, Zimbabwe and DRC. These ministers were judged to have implemented transformative economic policies with results. Please see page 7. 
</blockquote>
<a href="https://www.financialafrik.com/wp-content/uploads/2021/12/86-Les100quitransformentlAfrique.pdf">The publication</a> said about Ncube:
<blockquote>
Ancien chef économiste de la Banque Africaine de Développement, Mthuli Ncube a remporté la bataile contre l’inflation et la dépréciation continue de la monnaie zimbabwéenne. Son prochain objectif est de faire passer d’ici 2030 son pays dans le niveau des économies à revenu intermédiaire. En 2022, Hararé cible un déficit de 1,5% du PIB. L’inflation devrait rester à 94,6% en 2021 puis 32,6% en 2922.
Loosely translated: Former Chief Economist of the African Development Bank, Mthuli Ncube won the battle against inflation and the continued depreciation of the Zimbabwean currency. His next goal is to move his country up to the level of middle-income economies by 2030. In 2022, Harare targets a deficit of 1.5% of GDP. Inflation is expected to remain at 94.6% in 2021 and 32.6% in 2022.
</blockquote>
This comes as former Finance Minister, Tendai Biti who is a vice president in the opposition MDC Alliance has claimed that Ncube is one of the worst ministers to ever emerge out of Zimbabwe.
Biti cites the economic crisis in the Southern African country, the ballooning debt, and the suffering of the masses as a result of the austerity measures (that were introduced by Ncube to kickstart the economy) as evidence against the Finance minister.
Ncube was appointed Finance Minister in 2018 and has since then introduced a cocktail of measures to address a number of issues including:
<ol>
<li> a collapsing economy with very low production levels, </li>
<li>heightening poverty, unemployment and inequality; </li>
<li>massive shortages of fuel and other basic commodities; </li>
<li>a liquidity crisis with depositors unable to access their funds from the banks; </li>
<li>Monetary confusion with multi-exchange rates; </li>
<li>Crippling inflation with basic goods becoming unaffordable for the majority; </li>
<li>Collapsing social services characterised by a shortage of drugs and recurrence of cholera in some parts of the country; </li>
<li>A doctor’s strike which seen most hospitals discharging patients before completion of treatment and placing the rest on the risk of death through avoidable conditions; </li>
<li>Hopelessness among society and an increase in crimes of necessity, violence and rising suicide cases.</li>
</ol>
While Zimbabwe is on the recovery path, the country is not yet out of the woods.
Other ministers in the top five are Zainab Ahmed (Nigeria); Nicolas Kazadi (DRC), Ousmane Mamoudou KANE (Mauritania), Romuald Wadagni, (Bénin).
<h2>More: <a href="https://news.pindula.co.zw/">Pindula News</a></h2>

Prof Mthuli Ncube Named Among The Top 5 African Ministers Of Finance

VAYA Mobility, the taxi and shuttle service provider has said the delays in the disbursement of money to its service providers were a result of aligning the payments to the new withholding tax threshold of 30 percent.
This follows an internal memo where one employee reportedly un-procedurally told contractors that they were having cash flow problems and affecting their December commission payments.
In a statement, the company said the late payments were due to the new withholding tax statutory of 30 percent, which came into effect on January 1, 2022. The company said:
<blockquote>
Following the December holiday season, there was a delay in our payments cycle, which coincided with the introduction of the 30 percent statutory withholding tax.
This subsequently resulted in a delay in the January payments for some of our partners. The company – which is on course to clear any outstanding payments by the end of this week – regrets the delay, and has since communicated this to the affected partners.
</blockquote>
It added that through its partner management channels, VAYA is committed to continuing to create economically empowering opportunities by working closely with all partners to deliver great mobility and logistics solutions in 2022 and beyond.
VAYA is one of the first on-demand app-based cab services to operate on a large scale in Zimbabwe. Vaya is owned by Cassava Smartech (now EcoCash Holdings) under Cassava on Demand Services, a subsidiary of Econet.
The Service was launched in 2018 and it has been expanding since. 
More: <a href="https://www.herald.co.zw/vaya-clears-air-on-late-payments/">The Herald</a>

VAYA Speaks On Delays In Disbursement Of Money To Its Service Providers

Reserve Bank of Zimbabwe Governor, John Mangudya, has said it is suicidal to act to narrow a widening gap between the national currency’s official and black market rates.
While the Zimbabwe dollar traded <a href="https://news.pindula.co.zw/2022/01/18/the-zimbabwe-dollar-drops-at-the-resumption-of-the-rbz-foreign-currency-auction/">at 112.8228 to a United States dollar at the foreign currency auction conducted by the central bank this Tuesday</a> while it trades at over 200 to the dollar on the black market. He said on Monday:
<blockquote>
We would love convergence, but it requires the business community to also walk the talk. Convergence must be at a realistic exchange rate.
The unofficial rate will only surge even higher, decimate the earnings of citizens and lead to price hikes in the southern African nation, where annual inflation was 61% in December.
People just want to hold US dollars.
</blockquote>
Business leaders have blamed the disparity on a lack of foreign currency supply though Mangudya says it’s due to many businesses accepting payment in US dollars at the unofficial, or parallel market, rate.
Meanwhile, analysts say the delay in resuming the weekly foreign currency auction only helped in promoting the parallel market as a source of US dollars.
The business community says it is struggling to obtain the foreign currency which it needs to keep operations running and is forced to turn to the parallel market. 
More: NewZimbabwe

RBZ Governor Mangudya Comments On Widening Gap Between Official & Black Market Rates

The Zimbabwe dollar has slipped against the US dollar at <a href="https://www.pindula.co.zw/Reserve_Bank_of_Zimbabwe">the Reserve Bank of Zimbabwe (RBZ)</a> foreign currency (forex) auction conducted on Tuesday, 18 January 2021, to mark the resumption of the auction.
This week the weighted average was US$1: ZWL$112.8228 down from 14 December 2021’s rate that stood at US$1: ZWL$108.6660.
In total, US$30 866 275. 90 was allotted this week, with the bulk of the allotment going to raw materials followed by machinery and equipment. This is down from the US$41.77 million allotted in December.
633 bids were received on the Small to Medium enterprises forex auction, with 492 accepted and 141 disqualified. The total number of bids allotted was 492.
<div class="google-auto-placed ap_container">
On the main forex auction, a total of 448 bids were received, 320 were accepted and 128 were disqualified. The total number of bids allotted was 320
Bids with overdue CDIs, outstanding Bills of Entry (BOEs), and those with sufficient FCA balances were also disqualified.
Some bids were also allotted on a pro-rata basis.
<table class="table table-bordered table-hover" id="table_2" style="width: 82.0418%; height: 31px;">
<tbody>
<tr>
<td style="width: 68.3588%;" title="Character Accurarcy=99.95">                                                                                       SMEFX71/2022</td>
<td style="width: 181.73%;" title="Character Accurarcy=99.67">MAIN FX77/2022</td>
</tr>
</tbody>
</table>
</div>
<table class="table table-bordered table-hover" id="table_2" style="width: 81.9213%;">
<tbody>
<tr>
<td style="width: 46.6135%;" title="Character Accurarcy=99.58">Number of Bids Received :</td>
<td style="width: 24.9004%; text-align: center;" title="Character Accurarcy=99.95">633</td>
<td style="width: 213.18%; text-align: center;" title="Character Accurarcy=99.67">448</td>
</tr>
<tr>
<td style="width: 46.6135%;" title="Character Accurarcy=98.56">Number of Bids Disqualified :</td>
<td style="width: 24.9004%; text-align: center;" title="Character Accurarcy=99.75">141</td>
<td style="width: 213.18%; text-align: center;" title="Character Accurarcy=99.96">128</td>
</tr>
<tr>
<td style="width: 46.6135%;" title="Character Accurarcy=99.75">Total Number of Bids Accepted :</td>
<td style="width: 24.9004%; text-align: center;" title="Character Accurarcy=99.95">492</td>
<td style="width: 213.18%; text-align: center;" title="Character Accurarcy=99.96">320</td>
</tr>
<tr>
<td style="width: 46.6135%;" title="Character Accurarcy=99.78">Total Number of Bids Allotted :</td>
<td style="width: 24.9004%; text-align: center;" title="Character Accurarcy=99.95">492</td>
<td style="width: 213.18%; text-align: center;" title="Character Accurarcy=99.96">320</td>
</tr>
<tr>
<td style="width: 46.6135%;" title="Character Accurarcy=99.58">Total Value of Bids Accepted :</td>
<td style="width: 24.9004%; text-align: center;" title="Character Accurarcy=99.61">USD5,186,494.80</td>
<td style="width: 213.18%; text-align: center;" title="Character Accurarcy=99.19">USD25,679,781.10</td>
</tr>
<tr>
<td style="width: 46.6135%;" title="Character Accurarcy=99.36">Amount Allotted :</td>
<td style="width: 24.9004%; text-align: center;" title="Character Accurarcy=98.71">USD5,186,494.80</td>
<td style="width: 213.18%; text-align: center;" title="Character Accurarcy=98.24">USD25,679,781.10</td>
</tr>
<tr>
<td style="width: 46.6135%;" title="Character Accurarcy=99.6">Highest Rate Received :</td>
<td style="width: 24.9004%; text-align: center;" title="Character Accurarcy=99.16">125.0000</td>
<td style="width: 213.18%; text-align: center;" title="Character Accurarcy=99.31">126.0000</td>
</tr>
<tr>
<td style="width: 46.6135%;" title="Character Accurarcy=99.43">Lowest Bid Rate Received :</td>
<td style="width: 24.9004%; text-align: center;" title="Character Accurarcy=99.11">100.0000</td>
<td style="width: 213.18%; text-align: center;" title="Character Accurarcy=95.35">104.0000</td>
</tr>
<tr>
<td style="width: 46.6135%;" title="Character Accurarcy=99.47">Lowest Bid Rate Allotted :</td>
<td style="width: 24.9004%; text-align: center;" title="Character Accurarcy=99.6">100.0000</td>
<td style="width: 213.18%; text-align: center;" title="Character Accurarcy=98.21">104.0000</td>
</tr>
<tr>
<td style="width: 46.6135%;" title="Character Accurarcy=99.42">Weighted Average Rate :</td>
<td style="width: 24.9004%; text-align: center;" title="Character Accurarcy=99.65">112.8228</td>
<td style="width: 213.18%; text-align: center;" title="Character Accurarcy=0"> </td>
</tr>
</tbody>
</table>
<table class="table table-bordered table-hover" id="table_1" style="width: 82.2355%;">
<tbody>
<tr>
<td style="width: 43.7696%;" title="Character Accurarcy=99.83">PURPOSE</td>
<td style="width: 27.1204%; text-align: center;" title="Character Accurarcy=99.8">AMOUNT ALLOTTED SME AUCTION</td>
<td style="width: 117.391%; text-align: center;" title="Character Accurarcy=99.9">AMOUNT ALLOTTED MAIN AUCTION</td>
</tr>
<tr>
<td style="width: 43.7696%;" title="Character Accurarcy=99.95">Raw Materials</td>
<td style="width: 27.1204%; text-align: center;" title="Character Accurarcy=99.85">1,437,928.95</td>
<td style="width: 117.391%; text-align: center;" title="Character Accurarcy=99.86">10,955,933.90</td>
</tr>
<tr>
<td style="width: 43.7696%;" title="Character Accurarcy=99.97">Machinery and Equipment</td>
<td style="width: 27.1204%; text-align: center;" title="Character Accurarcy=99.92">1,716,788.74</td>
<td style="width: 117.391%; text-align: center;" title="Character Accurarcy=99.82">6,834,249.00</td>
</tr>
<tr>
<td style="width: 43.7696%;" title="Character Accurarcy=99.68">Consumables (Incl. Spares, Tyres, Electricals, etc)</td>
<td style="width: 27.1204%; text-align: center;" title="Character Accurarcy=99.94">567,367.56</td>
<td style="width: 117.391%; text-align: center;" title="Character Accurarcy=99.9">2,018,909.75</td>
</tr>
<tr>
<td style="width: 43.7696%;" title="Character Accurarcy=99.5">Services (Loans, Education, Dividends, Disinvestments, etc)</td>
<td style="width: 27.1204%; text-align: center;" title="Character Accurarcy=99.87">832,305.41</td>
<td style="width: 117.391%; text-align: center;" title="Character Accurarcy=99.89">2,046,438.06</td>
</tr>
<tr>
<td style="width: 43.7696%;" title="Character Accurarcy=99.61">Retail and Distribution (Incl. Food, Beverages, etc)</td>
<td style="width: 27.1204%; text-align: center;" title="Character Accurarcy=99.8">223,739.04</td>
<td style="width: 117.391%; text-align: center;" title="Character Accurarcy=99.85">1,717,910.17</td>
</tr>
<tr>
<td style="width: 43.7696%;" title="Character Accurarcy=99.94">Electricity</td>
<td style="width: 27.1204%; text-align: center;" title="Character Accurarcy=97.9">–</td>
<td style="width: 117.391%; text-align: center;" title="Character Accurarcy=99.62">50,251.21</td>
</tr>
<tr>
<td style="width: 43.7696%;" title="Character Accurarcy=99.73">Pharmaceuticals and Chemicals</td>
<td style="width: 27.1204%; text-align: center;" title="Character Accurarcy=99.87">224,790.62</td>
<td style="width: 117.391%; text-align: center;" title="Character Accurarcy=99.88">1,601,054.05</td>
</tr>
<tr>
<td style="width: 43.7696%;" title="Character Accurarcy=99.94">Paper and Packaging</td>
<td style="width: 27.1204%; text-align: center;" title="Character Accurarcy=99.89">183,574.48</td>
<td style="width: 117.391%; text-align: center;" title="Character Accurarcy=99.89">455,034.96</td>
</tr>
<tr>
<td style="width: 43.7696%;" title="Character Accurarcy=99.83">TOTAL</td>
<td style="width: 27.1204%; text-align: center;" title="Character Accurarcy=99.9">5,186,494.80</td>
<td style="width: 117.391%; text-align: center;" title="Character Accurarcy=99.81">25,679,781.10</td>
</tr>
</tbody>
</table>
<table class="table table-bordered table-hover" id="table_2" style="width: 82.3835%; height: 33px;">
<tbody>
<tr>
<td style="width: 42.7142%;" title="Character Accurarcy=99.95">GRAND TOTAL</td>
<td style="width: 184.069%; text-align: center;" title="Character Accurarcy=99.67">30 866 275.90</td>
</tr>
</tbody>
</table>

<img decoding="async" src="https://pbs.twimg.com/media/FJY-Tu9XsAkg7jv?format=jpg&amp;name=large"/>
<h2>More: <a href="https://news.pindula.co.zw/">Pindula News</a></h2>

The Zimbabwe Dollar Drops At The Resumption Of The RBZ Foreign Currency Auction

The National Social Security Authority (NSSA) will this week start the refurbishment of the St Tropez apartments in Eastlea, Harare.
Located along Samora Machel Avenue within 5km of the central business district (CBD), the St Tropez apartments comprise 38 by two-bedroomed and 22 by one-bedroomed block of flats.
The renovation of St Tropez will be done by Platinum Investment Managers (Pvt) Limited, who are the project managers.
Speaking to The Sunday Mail, NSSA chief executive, Arthur Manase, said they intend to make St Tropez a viable investment asset for the benefit of pensioners and beneficiaries. He said:
<blockquote>
We want to revamp St Tropez, bring it to its former glory, and as an investment making money for the NSSA fund. In that way, it will benefit our pensioners and beneficiaries.
We have engaged experienced investment managers, and their role is to assemble a team that will reconstruct, renovate and revamp this whole estate to make sure that it is upmarket and is a viable investment for NSSA.
NSSA will take part in these activities to revamp its idle assets. This year we want to make sure that idle assets are revived for the benefit of growing our fund. We want our pensioners to derive value from these investments.
</blockquote>
Platinum Investment Managers managing director, Prosper Mapika said:
<blockquote>
What we expect to see in the nine months to come is a much-changed St Tropez. ‘But beyond the aesthetics, it should be an asset that will perform and give returns to the membership of NSSA.
So, the optimisation of cost in the project vis-à-vis the expected returns is going to be our focus as investment managers.
</blockquote>
<h4>More: <a href="https://www.sundaymail.co.zw/nssa-rehabilitates-st-tropez-property">The Sunday Mail</a></h4>

NSSA Plans To Renovate St Tropez Property

Zimbabwe Stock Exchange (ZSE) Chief Executive Officer (CEO), Justice Bgoni, has availed the 2022 ZSE outlook. Watch the video below for more.
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<h2>More: <a href="https://news.pindula.co.zw/">Pindula News</a></h2>

WATCH: ZSE CEO Justice Bgoni Avails 2022 ZSE Outlook

The Reserve Bank of Zimbabwe (RBZ) says reserve money decreased by ZW$2.31 billion to ZW$25.94 billion during the week ending 31 December 2021, compared to the previous week’s position of ZW$28.25 billion. The central bank said:
<blockquote>
UPDATE ON RESERVE MONEY AS OF 31ST DECEMBER 2021
RESERVE MONEY
1. Reserve money decreased by ZW$2.31 billion to ZW$25.94 billion during the week ending 31st December 2021, compared to the previous week’s position of ZW$28.25 billion.
2. The fall in reserve money largely reflected declines of ZW$1.99 billion in banks’ liquidity (RTGS balances) at the Central Bank, coupled with a decrease of ZW$319.60 million in required reserves.
3. Currency issued rose marginally, by ZW$1.07 million, during the week under review.
</blockquote>
<a href="https://t792ae.c2.acecdn.net/wp-content/uploads/2022/01/Reserve-Money-Update-31-December-2021.pdf">To download the full update, click here</a>
<h3>More: <a href="https://news.pindula.co.zw/">Pindula News</a></h3>

DOWNLOAD: RBZ Reserve Money Update As Of 31 December 2021

Hotplate Grillhouse Zimbabwe has opened two new branches, one in Harare and the other in Kwekwe, with more than 50 people employed at the outlets.
Hotplate Grillhouse company director Benson Muneri told Chronicle that the restaurant has created 500 jobs in its 20 outlets spread across the country since it came into existence two years ago.
Muneri said the company has sunk US$2 million in setting up the 20 outlets. He said:
<blockquote>
We have opened two new outlets with each setup costs for each outlet pegged at US$100 000 and this has seen 500 staff members being found in our 20 outlets around Zimbabwe which were opened over the last two years of our existence.
Our aim is to continue exciting the nation through our “feed the nation national campaign” where customers who follow us on our social media pages will be winning free meals daily from ‘Papa Hotplate’.
We are a homegrown brand and appreciate what our customers have made possible with this young brand. We would like to thank the whole of Zimbabwe for their support.
</blockquote>
Hotplate Grillhouse’ s expansion drives comes a few days after an international fast food chain, <a href="https://www.chronicle.co.zw/kfc-shuts-down-victoria-falls-branch/">Kentucky Fried Chicken (KFC) closed its Victoria Falls branch</a> citing a lack of business.
The branch was opened in December 2016 and created jobs for about 30 employees, who have now been left stranded following the closure of the outlet on 31 December 2021.
<h4>More: <a href="https://www.chronicle.co.zw/hotplate-restaurant-opens-two-more-branches/">Chronicle</a></h4>

Hotplate Grillhouse Opens Two More Branches

The Reserve Bank of Zimbabwe (RBZ) said that the Financial Intelligence Unit (FIU) is investigating several institutions including businesses and schools for currency manipulation.
In a statement issued by RBZ Governor John Mangudya today, the FIU will take punitive measures against currency manipulators, among them, imposing fines and freezing their bank accounts. The statement read:
<blockquote>
The Reserve Bank of Zimbabwe would like to advise the public that the Financial Intelligence Unit (FIU) is currently investigating cases of breaches of the Bank Use Promotion Act and currency manipulations by some business entities.
The breaches have become particularly pronounced and prevalent at some schools and pharmacies.
The FIU will deploy all tools at its disposal to deal with such malpractices including the imposition of fines, freezing of bank accounts and blacklisting from the enjoyment of financial services.
Members of the public are urged to report offending businesses and service providers to the FIU on hotline numbers 0780434475 and 0714039897.
</blockquote>
<h4>More: <a href="https://news.pindula.co.zw/">Pindula News</a></h4>

RBZ Probes Schools, Pharmacies Over Currency Manipulation

Reserve Bank of Zimbabwe (RBZ) Governor John Mangudya has said gold deliveries to Fidelity Gold Refinery (Private) Limited rose by 55.5% in 2021 compared to deliveries made in 2020.
In a statement this Wednesday, Mangudya hailed both small-scale and large scale producers, as well as the Government for the Gold Incentive Scheme for the development. Said Mangudya:
<blockquote>
The Reserve Bank of Zimbabwe wishes to express its appreciation and gratitude to the country’s small and large gold producers for having delivered a total of 29 629.61 kg of gold to Fidelity Gold Refinery (Private) Limited (FGR) in 2021, a 55.5% increase from the 19 052.65 kg delivered in 2020.
Large gold producers delivered 11 159.0 kg to FGR in 2021 whilst small-scale producers contributed 18 470.61 kg.
The Bank also commends the Government for the Gold Incentive Scheme introduced in May 2021, which scheme has had a significant positive impact on gold deliveries to FGR.
It is projected that the quantum of the country’s gold exports in 2021 will increase beyond the 29 629.61 kg when the gold component in the Platinum Group Metals is eventually included in the tally of gold deliveries to FGR.
<img alt="Image" decoding="async" src="https://pbs.twimg.com/media/FI5maHEWYAEtUTT?format=jpg&amp;name=900x900"/>
</blockquote>
<h3>More: <a href="https://news.pindula.co.zw/">Pindula News</a></h3>

Gold Deliveries To Fidelity Gold Refinery Increased In 2021 - RBZ

Transport and Infrastructural Development Minister, Felix Mhona, on Wednesday, announced three additional members to the Zimbabwe National Road Administration (ZINARA) board.
The new board members are Advocate Kingston Magaya, Angeline Matopodzi and Brenda Nhliziyo.
The latest appointments follow that of the new ZINARA board chair, George Manyaya, and his deputy, Lizwe Bunu, a fortnight ago. Mhona said in a statement:
<blockquote>
The immediate task that I have given the new board members is to come up with strategies to decongest the toll gates, refurbishment and construction of Toll Plaza to ensure seamless revenue collection.
As a listening Government, we have received concerns from residents in built-up areas on the location of certain tollgates and I am happy to announce that we are now going to relocate the Eskbank, Shamva, Dema and Skyline Tollgates.
</blockquote>
<h4>More: <a href="https://www.sundaymail.co.zw/new-zinara-gets-new-board-members">The Sunday Mail</a></h4>

ZINARA Gets 3 New Board Members

First Mutual Life Assurance Company, is inviting suitably qualified and experienced persons to fill two Harare-based vacancies of Client Relationship Consultant that have arisen within the company. Pindula News presents the job advert:
<blockquote>
<h2>Job Specification </h2>
• Coordinating and managing partnerships/bancassurance – developing strong relationships with the requisite partners’ network, identifying the key decision-makers and movers within the organizations help to move marketing campaigns and initiatives forward
• Delivering company’s value propositions and insights to the partnership programme, e.g., market/consumer surveys, behavioural economics support, reinsurance collaboration, product review. 
• Leading implementation of new products, product features or enhancements for the partnership programme; tracking performance and KPIs across the programme 
• Planning, executing, and managing the partnership/bancassurance programme’s product insurance lifecycle and processes • Conducting client workshops for Administrators 
• Resolving general policy queries on a daily basis. 
• Analysing, segmenting, targeting, and positioning the clients on an ongoing basis. 
• Growing existing business organically through conversion of legacy policies, upgrading policies and following up on existing stop orders to ensure all staff are on scheme. 
• Identifying opportunities for potential business growth. 
• Providing input for the formulation of the overall First Mutual Life Business CRM strategy. 
<h2>Person Specification </h2>
• Degree in Marketing/ Insurance 
• 1-year experience in the insurance industry 
• Defensive driving certificate is a must 
• Tech-Savvy 
• Ability to build and maintain relationships 
• Highly innovative 
• Excellent communication and presentation skills. 
• Team Player
Candidates meeting the above criteria should forward their Curriculum Vitaes (CVs), copies of certificates and application letters to Group Human Resources via the following email address: careers@firstmutual.co.zw Applications should be sent bynot later than 13 January 2022.
</blockquote>
<h2>More: <a href="https://news.pindula.co.zw/">Pindula News</a></h2>

Closing Soon: First Mutual Invites Applications For Vacant Posts

Farayi Mangwende, a Group Marketing and Strategy Executive at First Mutual Holdings Ltd has been appointed to the Zimbabwe Olympic Committee as chair of the Marketing, Brand Development Er Resource Mobilisation Commission. 
First Mutual announced the development and has since sent a congratulatory message. Pindula News presents the message:
<blockquote>
CONGRATULATIONS FARAYI MANGWENDE! 
The Zimbabwe Olympic Committee has appointed Farayi Mangwende to their board as chair of the Marketing, Brand Development Er Resource Mobilisation Commission. We wish Farayi all the best in her new role! 
</blockquote>
Farayi has over 25 years of experience in the Corporate Communications, Marketing, Strategy Formulation and Public Relations field having worked in this discipline in organisations ranging from finance, hospitality, fast-moving consumer goods as well as non-profit making organizations in both Zimbabwe and the United Kingdom. 
In addition, she has sub-Saharan Africa exposure from work experience in South Africa, Ghana, Nigeria, Malawi and Zambia. 
Farayi has worked at African Sun Limited, Dairibord Zimbabwe Limited, Zimbabwe Sun Hotels, Michael Hogg Young and Rubicam advertising and PR agency, CFX Financial Services Ltd, Macmillan Cancer Relief (UK) and Thistle Group Of Hotels (UK) where she gained proficiency and expertise in corporate communications, communication strategy formulation and implementation, public relations, media management, crisis management, investor relations and event management.
She holds an MA in Public Communication and Public Relations, National Diploma Mass Communication. 
She’s also on the Citimed Chitungwiza Hospital board and is a former Trustee of the Culture Fund of Zimbabwe Trust
<h2>More: <a href="https://news.pindula.co.zw/">Pindula News</a></h2>

First Mutual's Farayi Mangwende Appointed Marketing Chair For Zimbabwe Olympic Committee

The former president of the Zimbabwe Congress of Trade Unions (ZCTU), Peter Mutasa, has said the economic crisis in the Southern African country reminds of the 2008 situation when inflation reached a record 231 million percent as per official statistics. Peter Mutasa (PM) made the remarks while speaking in an interview with NewsDay (ND) senior reporter Moses Matenga last week. We present excerpts from the interview:
<blockquote>
ND: As someone who has worked in the banking sector and, of course, as the immediate past president of ZCTU, how best can you describe Zimbabwe’s economic performance?
PM: We are now under an exploitative and failing crony capitalism. The economy is tailspinning into chaotic scenes reminiscent of the 2008 economic crisis. Looting by government officials is spiralling out of control. These government officials are taking positions that protect their earnings and assets. The main indicators include the volatile exchange rate that has wiped out value for wage earners and pensioners.  Inflation has been managed, but it is still out of control. There is low domestic aggregate demand, with most workers earning barely sufficient wages to enable them to buy food. It is now mainly diaspora remittances and incomes from informal jobs that are keeping the few manufacturers and retailers going.  We are in a debt trap, and are failing to service our external debt which has ballooned to US$13,7 billion. Sadly, we have been acquiring more debts in opaque ways and without commensurate economic gain.  It is clear we are staring at the 2008 situation.
ND: You are painting what seems like a negative picture of the state of affairs, but the government insists that the economy is on a recovery path, who is fooling who?
PM: That is self-serving propaganda that does not assist the nation. There must be indicators which show that the economy is recovering. Exchange rate, inflation and low incomes do not show an economy that is stabilising or on a recovery path. The managed exchange rate moved from 1:1 to now 1:106, while through propaganda the government wants people to believe that it is price discovery. On the real (parallel) market, the rate is now over $240 against the US dollar. The economy is self re-dollarising and the local currency is losing value.  It can no longer be accepted as a medium of exchange or unit of account, and it is not possible to hold it as store of value. This is one instrument they have been projecting as a success.  The country is failing to attract foreign direct investment (FDI).
Due to eroding confidence, FDI that had peaked to US$785 million in 2018, dropped to US$194 million by 2020.  Half of the population is in extreme poverty — around 61% is food insecure. Our schools and hospitals are extremely underfunded and dependent on donors. We are witnessing serious brain drain and losing important human resources. We are in the middle of a migration crisis that only parallels movements from countries at war.  So, what is informing the government leading it to conclude that there is economic recovery?
</blockquote>
Mutasa suggested that upholding principles of good governance can save the situation.
More: <a href="https://www.newsday.co.zw/2022/01/zim-sliding-back-to-2008-crisis/">NewsDay Zimbabwe</a>

"We're Staring At The 2008 Situation" - Former ZCTU President

Institute of Chartered Accountants of Zimbabwe (ICAZ) has appointed Owen Mavengere as acting chief executive.
He takes over from Gloria Zvaravanhu who resigned in December last year. ICAZ: said in a circular:
<blockquote>
The Institute of Chartered Accountants of Zimbabwe (Icaz) wishes to advise the appointment of Owen Mavengere as the acting CEO with effect from January 10, 2022 following the resignation of Gloria Zvaravanhu.
The institute is at an advanced stage in finalising the appointment of a substantive chief executive. Further updates will be provided to all members and stakeholders in due course.
</blockquote>
Before the latest appointment, Mavengere was ICAZ technical manager.
He has managerial and operational experience in strategy formulation, reporting, financial analysis, international financial reporting standards, audit, risk management, internal controls as well as collaboration and communication.
ICAZ was set up on January 11, 1918, in terms of Ordinance 14 of 1917 and is now a statutory body incorporated in terms of the Chartered Accountants Act.
It provides leadership on the development, promotion and improvement of the accountancy profession focusing on accounting education, assurance and good governance practices. 
More: <a href="https://www.newsday.co.zw/2022/01/icaz-appoints-mavengere-as-acting-ce/">NewsDay Zimbabwe</a>

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