Merchant Services Manager (Harare)

Library Technical Assistant

Assistant Binder

Broadcast Technician

Research, Innovation and Industry Linkage Officer (RIILO)

Safety, Health and Environmental (SHE) Officer

Procurement Officer

Intellectual Property Management Officer

Research Officers x2

Business Development Officers x2

Innovation Lead (Engineering)

Innovation Lead (Arts & Creative Industries)

Innovation Manager

Public Health Specialist: Prevention, Care & Treatment (Harare)

Driver (Kariba)

Relief Drivers x8

Business Intelligence Analyst (Harare)

Contact Centre Agent-1 (Harare)

Switchboard Operator (OMAO) (Harare)

Procurement Manager (Bulawayo)

Auditor - ICT & Internal Control (Harare)

Legal Officer (Harare)

Auditor (Harare)

Director General (Harare)

Bitcoin and other digital currencies plunged on Wednesday after the People’s Bank of China announced digital tokens can’t be used as a form of payment by financial institutions, Business Insider reports.
Bitcoin fell as much as 31%, to $30,016.83. Binance Coin fell 32% to $337.27, dogecoin fell 30% to 36 cents, and Ethereum’s ether fell 44% to $1,918.773 at intraday lows.
Bitcoin continued its week-long slide first sparked by Elon Musk’s climate-related concerns over its mining process.
Billionaire Mike Novogratz predicted bitcoin will consolidate somewhere between $40,000 and $50,000 for up to six weeks after Musk’s criticism of its energy use.
Tesla’s cars are powered by electricity made from coal and gas, while bitcoin mining is an energy-intensive process that is said to consume more electricity annually than the <a href="https://www.bbc.co.uk/news/technology-56012952" rel="noopener" target="_blank">whole of Argentina</a>.
JPMorgan said in a note on Tuesday institutional investors seem to be shifting away from bitcoin and moving back into traditional gold.
Strategists led by Nikolaos Panigirtzoglou said it is not clear what is driving the shift. They wrote:
<blockquote>Perhaps institutional investors are fleeing bitcoin as they see its previous two-quarter uptrend ending and thus seek the stability of traditional gold away from the rapid downshifting of digital gold.</blockquote>
Meanwhile, a blockchain research group Elliptic found the hacker group behind the Colonial Pipeline attack received $90 million in bitcoin before it shut down last week.
This according to Jeffrey Halley, a senior market analyst at OANDA, has ratcheted up regulatory risks tremendously. He said:
<blockquote>China’s actions raise the mercury on that front, and the Colonial situation may finally spur the US into action. I suspect they will not be alone.</blockquote>
Halley said a drop in bitcoin to below $30,000 would not be surprising.
<h4>More: <a href="https://markets.businessinsider.com/currencies/news/bitcoin-price-cryptocurrencies-china-crypto-crackdown-price-outlook-2021-5-1030445035?utm_source=notification&amp;utm_medium=referral" rel="noopener" target="_blank">Business Insider</a></h4>

Pindula News

Bitcoin Tumbles As Low As $30,000 After China Warns Investors Against Cryptocurrencies

Results from the <a href="https://www.pindula.co.zw/Reserve_Bank_of_Zimbabwe">Reserve Bank of Zimbabwe (RBZ)</a>’s Tuesday foreign exchange auction show that the Zimbabwe dollar continues to weaken against the United States Dollar (USD).
The Zimbabwe dollar continues to weaken against the USD amid increased demand for the greenback following the reopening of the economy after putting it under a COVID-19-induced lockdown.
Results from the Tuesday, 18 May 2021 <a href="https://www.pindula.co.zw/Foreign_Exchange_Auction_System">RBZ forex auction</a> show that the weighted average fell slightly from US$1:ZWL$84.6140 last week to US$1: 6494 this week.
This week US$6.2 million was allocated to the Small to Medium Enterprises forex auction while US$36.4 million was allocated to the main forex auction.
In total, US$43 million was allotted this week, with the bulk of the allotment going to raw materials followed by machinery and equipment.
445 bids were received on the Small to Medium enterprises forex auction, with 401 accepted and 44 disqualified.
On the main forex auction, a total of 370 bids were received, 330 were accepted while 40 were disqualified.
<a href="https://www.pindula.co.zw/Reserve_Bank_of_Zimbabwe">The Reserve Bank of Zimbabwe (RBZ)</a> said bids that were disqualified were not eligible in terms of the Priority List.
Bids with overdue CDIs, outstanding Bills of Entry (BOEs), and those with sufficient FCA balances were also disqualified.
Some bids were allotted on a pro-rata basis to conform with the Import Priority List, the RBZ said.
<table class="table table-bordered table-hover" id="table_1">
<tbody>
<tr>
<td title="Character Accurarcy=99.9">PURPOSE</td>
<td title="Character Accurarcy=99.84">AMOUNT ALLOTTED SME AUCTION</td>
<td title="Character Accurarcy=99.9">AMOUNT ALLOTTED MAIN AUCTION</td>
</tr>
<tr>
<td title="Character Accurarcy=99.95">Raw Materials</td>
<td title="Character Accurarcy=98.67">1,435,735.01</td>
<td title="Character Accurarcy=99.65">14,096,917.34</td>
</tr>
<tr>
<td title="Character Accurarcy=99.97">Machinery and Equipment</td>
<td title="Character Accurarcy=99.89">1,374,209.84</td>
<td title="Character Accurarcy=99.94">6,645,605.09</td>
</tr>
<tr>
<td title="Character Accurarcy=99.3">Consumables (Incl. Spares, Tyres, Electricals, etc)</td>
<td title="Character Accurarcy=99.8">1,292,674.62</td>
<td title="Character Accurarcy=99.87">3,275,512.08</td>
</tr>
<tr>
<td title="Character Accurarcy=99.67">Services (Loans, Education, Dividends, Disinvestments, etc)</td>
<td title="Character Accurarcy=99.85">499,484.30</td>
<td title="Character Accurarcy=99.85">3,813,997.19</td>
</tr>
<tr>
<td title="Character Accurarcy=99.63">Retail and Distribution (Incl. Food, Beverages, etc)</td>
<td title="Character Accurarcy=99.9">571,009.09</td>
<td title="Character Accurarcy=99.77">3,418,523.43</td>
</tr>
<tr>
<td title="Character Accurarcy=99.82">Fuel, Electricity and Gas</td>
<td title="Character Accurarcy=99.86">237,187.42</td>
<td title="Character Accurarcy=99.85">1,297,258.26</td>
</tr>
<tr>
<td title="Character Accurarcy=99.66">Pharmaceuticals and Chemicals</td>
<td title="Character Accurarcy=99.17">432,355.91</td>
<td title="Character Accurarcy=99.81">2,798,134.81</td>
</tr>
<tr>
<td title="Character Accurarcy=99.97">Paper and Packaging</td>
<td title="Character Accurarcy=97.44">324,877.00</td>
<td title="Character Accurarcy=99.61">1,015,016.73</td>
</tr>
<tr>
<td title="Character Accurarcy=99.93">TOTAL</td>
<td title="Character Accurarcy=99.86">6,167,533.19</td>
<td title="Character Accurarcy=99.78">36,360,964.93</td>
</tr>
<tr>
<td title="Character Accurarcy=99.88">GRAND TOTAL AWARDED</td>
<td title="Character Accurarcy=0"> </td>
<td title="Character Accurarcy=99.63">42,528,498.12</td>
</tr>
</tbody>
</table>

<ul>
<li class="entry-title"><a href="https://news.pindula.co.zw/2021/05/11/rbz-forex-auction-zimbabwe-dollar-further-drops-against-usd/">RBZ Forex Auction: Zimbabwe Dollar Further Drops Against USD</a></li>
<li class="entry-title"><a href="https://news.pindula.co.zw/2021/05/12/pdf-rbz-list-of-forex-auction-system-beneficiaries/">PDF: RBZ List Of Forex Auction System Beneficiaries</a></li>
<li class="entry-title"><a href="https://news.pindula.co.zw/2021/05/05/rbz-forex-auction-zimbabwe-dollar-drops-against-usd-2/">RBZ Forex Auction: Zimbabwe Dollar Drops Against USD</a></li>
<li class="entry-title"><a href="https://news.pindula.co.zw/2021/04/20/rbz-forex-auction-zimbabwe-dollar-firms-against-usd/">RBZ Forex Auction: Zimbabwe Dollar Firms Against USD</a></li>
<li class="entry-title"><a href="https://news.pindula.co.zw/2021/03/17/rbzs-list-of-forex-exchange-auction-beneficiaries-is-misleading-magaisa/">RBZ’s List Of Forex Exchange Auction Beneficiaries Is Misleading – Magaisa</a></li>
</ul>
More: <a href="https://news.pindula.co.zw/">Pindula News</a>

RBZ Forex Auction: Zimbabwe Dollar Weaken Further Against USD

A former Minister of Finance and Economic Development (GNU era), Tendai Biti has told Old Mutual to pay back pensioners money which he says the financial institution had stolen.
Biti who is also the Vice President in the opposition MDC Alliance led by Nelson Chamisa made the remarks in response to a social media post by Old Mutual on its Amazing Voices judges. Old Mutual had said:
<blockquote>_The Old Mutual Amazing Voices judges: <a data-user-name="AmmaraBrown" href="https://twitter.com/AmmaraBrown/" rel="noopener user" target="_blank">@AmmaraBrown</a>, <a data-user-name="trigmaticrocks" href="https://twitter.com/trigmaticrocks/" rel="noopener user" target="_blank">@trigmaticrocks</a>, <a data-user-name="evellemusic" href="https://twitter.com/evellemusic/" rel="noopener user" target="_blank">@evellemusic</a>, <a data-user-name="filah_tuju" href="https://twitter.com/filah_tuju/" rel="noopener user" target="_blank">@filah_tuju</a> and <a data-user-name="VusiNova" href="https://twitter.com/VusiNova/" rel="noopener user" target="_blank">@VusiNova</a> come with personalities larger than life. Yet we love the energy they bring to the room. Reply below &amp; tell us who your favourite judge is. <a href="https://twitter.com/search?q=%23AmazingVoicesAfrica" rel="hashtag noopener" target="_blank">#AmazingVoicesAfrica_</a></blockquote>
Biti would not have any of it and demanded that Old Mutual pays back the pensioners’ stolen money. He said:
<blockquote>_Please stop your nauseating PR exercises and bring back the billions of dollars you stole from pensioners and savers across Zimbabwe. You are causing deaths of innocent Zimbabweans through poverty, Stress and High Blood Pressure.<a href="https://twitter.com/search?q=%23PayBackTheMoney" rel="hashtag noopener" target="_blank">#PayBackTheMoney_</a></blockquote>
Old Mutual offers three types of Pension Funds as follows: Defined Contribution Scheme, Defined Benefit Scheme, and Hybrid Scheme (which combines the features of the above two schemes).
Following the adoption of a <a href="https://zero.pindula.co.zw/civil-servants-pensioners-to-get-usd-allowances-very-soon-mthuli-ncube/">multi-currency system in 2009,</a> Old Mutual is one of the insurance firms that clashed with pensioners and policyholders who were unhappy with the paltry benefits being disbursed to them.
Biti in 2013 also asked Treasury to make a follow up with the Insurance and Pensions Commission (IPEC) – the insurance regulatory body – concerning the paltry pension pay-outs.
He said a lot of people lost their contributions and ultimately their savings to the pensions and insurance companies adding that the IPEC had to respond to the allegations levelled against it.
Biti said he was one of the affected contributors. He took out a policy in 1994 with an assured sum of Z$50 million (about US$20,000 the exchange rate of the time), but to date, he has never received a cent.
In 2020, Biti claimed Old Mutual is the biggest beneficiary of the economy’s mismanagement adding it has made billions from Zimbabwe’s collapse. He added:
<blockquote>_It must be sued to the bone. Under a decent Government it must be made to pay compensation of the billions it has looted from unsuspecting pensioners._</blockquote>
<ol>
<li><a href="https://zero.pindula.co.zw/re-listing-of-old-mutual-ppc-on-zse-expected-soon/">Re-listing Of Old Mutual, PPC On ZSE Expected Soon</a></li>
<li><a href="https://zero.pindula.co.zw/mthuli-extends-suspension-of-old-mutual-ppc-stock-fungibility-by-12-months/">Mthuli Extends Suspension Of Old Mutual, PPC Stock Fungibility By 12 Months</a></li>
<li><a href="https://zero.pindula.co.zw/unclaimed-pensions-in-zimbabwe-rise-to-196-million/">Unclaimed Pensions In Zimbabwe Rise To $196 Million</a></li>
<li><a href="https://zero.pindula.co.zw/nssa-seriously-considering-usd-payouts-report/">NSSA Seriously Considering USD Payouts – Report</a></li>
<li><a href="https://zero.pindula.co.zw/nssa-increases-pension-contributions-from-7-to-9/">NSSA Increases Pension Contributions From 7% To 9%</a></li>
<li><a href="https://zero.pindula.co.zw/its-six-months-now-and-we-havent-received-what-is-due-to-us-senior-pensioners-lament/">“It’s Six Months Now, And We Haven’t Received What Is Due To Us.” – Senior Pensioners Lament</a></li>
</ol>
More: <a href="https://zero.pindula.co.zw/">Pindula News</a>

Biti Tells Old Mutual To Pay Back Pensioners' Stolen Money

The International Monetary Fund (IMF) has said Zimbabwe needs a broader reform and stabilisation agenda to sustain efforts by the government to support the local currency and to lower inflation.
IMF spokesperson told NewZimbabwe on Friday that Zimbabwe should address pandemic-related health and social challenges, coordinate fiscal, foreign-exchange and monetary policies, and implement structural reforms aimed at improving the business climate and curbing corruption.
The Breton Woods institution indicated plans to hold a virtual staff visit in the first half of June, which would be a precursor to the country’s enrolment in a staff-monitored program.
A similar programme ended in February 2020, when the IMF said Zimbabwe had gone “off track.” Said the spokesperson:
<blockquote>_Fund staff will discuss recent macroeconomic developments, the authorities’ efforts in addressing the Covid-19 pandemic and vaccine roll-out, economic outlook and policies and capacity development priorities._
_Fund staff take note of the authorities’ efforts to stabilize the local currency and lower inflation over the last few months._</blockquote>
Zimbabwe’s Minister of Finance and Economic Development, Professor Mthuli Ncube previously projected that the economy will grow 7.4% this year while IMF projects a 3.1% growth.
Zimbabwe is saddled with a $10 billion debt owed to multilateral lenders including the World Bank, Paris Club, and African Development Bank and clearing it is crucial for it to access fresh credit lines.
The IMF recommends the implementation of “sound policies” and attraction of donor support to resolve the <a href="https://news.pindula.co.zw/2018/10/17/farmers-will-no-longer-get-farm-implements-from-govt-for-free-mthuli-ncube/">debt overhang problem.</a>

<ol>
<li class="entry-title"><a href="https://news.pindula.co.zw/2020/10/16/imf-paints-gloomy-picture-on-zimbabwes-economy/">IMF Paints Gloomy Picture On Zimbabwe’s Economy</a></li>
<li class="entry-title"><a href="https://news.pindula.co.zw/2020/07/28/watch-imf-meet-to-consider-south-africas-4-2-billion-loan-request/">WATCH: IMF Meet To Consider South Africa’s $4.2 Billion Loan Request</a></li>
<li class="entry-title"><a href="https://news.pindula.co.zw/2020/05/02/mthuli-ncube-should-resign-after-his-imf-confessions-analysts/">Mthuli Ncube Should Resign After His IMF ‘Confessions’ – Analyst</a>s</li>
<li class="entry-title"><a href="https://news.pindula.co.zw/2020/06/30/worse-than-we-thought-imf-on-deterioration-of-zimbabwe-african-economies/">Worse Than We Thought: IMF On Deterioration Of Zimbabwe, African Economies</a></li>
<li class="entry-title"><a href="https://news.pindula.co.zw/2020/04/30/broke-zimbabwean-govt-promises-imf-that-it-will-reform/">Broke Zimbabwean Govt Promises IMF That It Will Reform</a></li>
<li class="entry-title"><a href="https://news.pindula.co.zw/2018/09/14/2-year-economic-stabilisation-plan-ready-for-cabinet-approval-top-govt-official/">2 Year Economic Stabilisation Plan Ready For Cabinet Approval- Top Govt Official</a></li>
<li class="entry-title"><a href="https://news.pindula.co.zw/2020/03/11/mthuli-to-set-up-a-currency-stabilisation-task-force/">Mthuli To Set Up A Currency Stabilisation Task Force</a></li>
</ol>
More: <a href="https://news.pindula.co.zw/">Pindula News</a>; <a href="https://www.newzimbabwe.com/imf-calls-for-major-reforms-to-turn-zimbabwes-economy-around/">NewZimbabwe</a>

IMF: Zimbabwe Needs Broader Reform & Stabilisation Agenda

The Reserve Bank of Zimbabwe (RBZ) has reported that the central bank recorded a sharp decline in reserve money during the week that ended 7 May.
The central bank attributes the decline in reserve money to a decrease in banks’ liquidity. In a statement, the RBZ said:
<blockquote>
<ol>
<li>Reserve money for the week ending 7th May 2021 fell by ZW$181.07 million to ZW$22.44 billion, largely reflecting a decrease of ZW$464.85 million in banks’ liquidity (RTGS balances) at the Reserve Bank, due to excess liquidity mopping up operations by the Bank.</li>
<li>Partially offsetting the decrease in reserve money were increases of ZW$191.46 million and ZW$92.31 million in statutory reserves and currency issued, respectively.</li>
</ol>
</blockquote>
Download: <a href="https://t792ae.c2.acecdn.net/wp-content/uploads/2021/05/Reserve-Money-Update-7-May-2021.pdf" style="color: #0000ff;">Reserve-Money-Update—-7-May–2021</a> 

<ul>
<li class="entry-title"><a href="https://www.rbz.co.zw/documents/weekly_review/2021/May/Reserve-Money-Update----7-May--2021.pdf">DOWNLOAD: RBZ Update On Reserve Money – 30 April 2021</a></li>
<li class="entry-title"><a href="https://news.pindula.co.zw/2021/05/05/reserve-bank-of-zimbabwe-reserve-money-increase/">Reserve Bank Of Zimbabwe: Reserve Money Increase</a></li>
<li class="entry-title"><a href="https://news.pindula.co.zw/2021/04/30/rbz-reserve-money-update-as-of-23-april-2021/">RBZ: Reserve Money Update As Of 23 April 2021</a></li>
<li class="entry-title"><a href="https://news.pindula.co.zw/2021/04/28/download-reserve-bank-of-zimbabwe-reserve-money-update-pdf/">DOWNLOAD: Reserve Bank Of Zimbabwe Reserve Money Update -PDF</a></li>
<li class="entry-title"><a href="https://news.pindula.co.zw/2020/10/17/rbz-update-on-reserve-money-6-october-2020/">RBZ Update On Reserve Money 6 October 2020</a></li>
<li class="entry-title"><a href="https://news.pindula.co.zw/2021/05/04/fbc-bank-in-bribery-storm-involving-high-court-judge/">FBC Bank In Bribery Storm Involving High Court Judge</a></li>
<li class="entry-title"><a href="https://news.pindula.co.zw/2021/04/28/cabs-receives-historic-e15m-credit-facility-from-european-investment-bank/">CABS Receives Historic €15M Credit Facility From European Investment Bank</a></li>
<li class="entry-title"><a href="https://news.pindula.co.zw/2021/04/15/banks-pension-funds-shun-tobacco-sector/">Banks, Pension Funds Shun Tobacco Sector</a></li>
<li class="entry-title"><a href="https://news.pindula.co.zw/2020/11/27/mthuli-usd-depositors-to-be-compensated-for-exchange-losses/">Mthuli: USD Depositors To Be Compensated For Exchange Losses</a></li>
<li class="entry-title"><a href="https://news.pindula.co.zw/2020/03/13/zimbabwe-enacts-si-65-of-2020-which-directs-banks-to-pay-interest-on-savings-accounts-and-fixed-deposits/">Zimbabwe Enacts SI 65 of 2020 Which Directs Banks To Pay Interest On Savings Accounts And Fixed Deposits</a></li>
<li class="entry-title"><a href="https://news.pindula.co.zw/2018/11/29/new-duty-regime-sharply-reduces-vehicle-imports/">New Duty Regime Sharply Reduces Vehicle Imports</a></li>
</ul>
More: <a href="https://news.pindula.co.zw/">Pindula News</a>

RBZ: Reserve Money In Sharp Decline

<a href="https://www.pindula.co.zw/ZESA">The Zimbabwe Electricity Supply Authority (ZESA)</a> has announced a planned interruption of the electricity vending system meant to give way for routine maintenance.
We present below the statement by the local power utility’s subsidiary, Zimbabwe Electricity Transmission and Distribution Company which is responsible for the transmission and distribution of electricity from the power stations, as well as its retailing to end-users.
<blockquote>_Interruption of the Electricity Vending System_
_The Zimbabwe Electricity Transmission and Distribution Company (ZETDC) would like to advise its valued customers that there will be interruption of the Prepaid Electricity Vending system on Thursday, 20 May 2021 at 1030pm to Friday, 21 May 2021 at 0600hrs to
facilitate routine maintenance of the system to ensure continued efficient service delivery._
_Customers on the prepaid channel are urged to ensure that they purchase enough power to avoid running out of credit during the
maintenance period._
_The inconvenience caused is sincerely regretted._</blockquote>
<ul>
<li><a href="https://zero.pindula.co.zw/former-zesa-chairman-acquitted-of-bribery/">Former ZESA Chairman Acquitted Of Bribery</a></li>
<li><a href="https://zero.pindula.co.zw/zesa-in-bid-to-introduce-a-new-tariff/">ZESA In Bid To Introduce A New Tariff</a></li>
<li><a href="https://zero.pindula.co.zw/zesa-rejects-delta-transformer-meant-to-address-prolonged-water-crisis/">ZESA Rejects Delta Transformer Meant To Address Prolonged Water Crisis</a></li>
<li><a href="https://zero.pindula.co.zw/zesa-apologises-over-blackout-affecting-masvingo-and-matabeleland-south/">ZESA Apologises Over Blackout Affecting Masvingo And Matabeleland South</a></li>
<li><a href="https://zero.pindula.co.zw/zrp-arrests-2-suspects-for-buying-electricity-through-manipulating-zesa-electronic-systems/">ZRP Arrests 2 Suspects For Buying Electricity Through Manipulating ZESA Electronic Systems</a></li>
<li><a href="https://zero.pindula.co.zw/zesa-introduces-system-that-allows-customers-sell-excess-solar-power/">ZESA Introduces System That Allows Customers To ‘Sell’ Excess Solar Power</a></li>
<li><a href="https://zero.pindula.co.zw/split-electricity-meters-help-landlords-tenants-end-zesa-squabbles/">Split Electricity Meters Help Landlords, Tenants End Zesa Squabbles</a></li>
<li><a href="https://zero.pindula.co.zw/zesa-pays-off-us33-million-eskom-debt/">ZESA Pays Off US$33 Million Eskom Debt</a></li>
</ul>
More: <a href="https://zero.pindula.co.zw/">Pindula News</a>

ZESA Announce Interruption Of Electricity Vending System

Information minister Monica Mutsvangwa’s son, Neville is embroiled in a dispute with Nedbank over “fraudulent” transactions where he allegedly lost over $617 700.
Neville Mutsvangwa, through his lawyers Scanlen and Holderness Legal Practitioners, said four transactions of $260 000, $200 000, $57 750 and $100 000 were done to four different beneficiaries who are not known to him.
He also claims that the four transactions that are yet to be reversed into his account have prejudiced his business operations, causing substantial losses and reputational damage in the sum of $250 000 as of October 2020.
Neville’s lawyers, Messrs Scanlen and Holderness Legal Practitioners wrote a letter to Nedbank on April 12 asking the bank to release the funds into their client’s account since the beneficiaries did not claim the deposited money, but the bank is reportedly reluctant to release the funds. Reads the letter:
<blockquote>_On 6 April 2021, the court granted your client’s application for joinder. None of the respondents attended court for purposes of contesting such joinder._
_In accordance with your client’s position set out in your letter of 4 March 2021, we requested that your client releases our client’s funds without further delays._
_The continued delay in the release of our client’s funds is causing him unnecessary prejudice given none of the parties your client has joined has claimed any right to title or interest in the amounts which are the subject of our client’s claim._
_We kindly request you furnish us with a copy of the court order that was granted on 6 April 2021._</blockquote>
Neville has also launched a complaint against Nedbank with the Reserve Bank of Zimbabwe (RBZ) under the complaints handling procedure.
Mutsvangwa, Nedbank and RBZ officials also met at the RBZ complaints office where the bank insisted that the transactions were done via Neville’s mobile number and the device was a Huawei.
The central bank also said police investigations are continuing adding that the expected date of completion is September, 30.
<ul>
<li><a href="https://zero.pindula.co.zw/police-arrest-econet-sim-card-replacement-fraudsters/">Police Arrest Econet Sim Card Replacement Fraudsters</a></li>
<li><a href="https://zero.pindula.co.zw/fraudsters-dupe-car-buyers-using-lawyers-lost-certificate/">Fraudsters Dupe Car Buyers Using Lawyer’s Lost Certificate</a></li>
<li><a href="https://zero.pindula.co.zw/serial-fraudster-aged-60-finally-arrested/">Serial Fraudster Aged 60, Finally Arrested</a></li>
<li><a href="https://zero.pindula.co.zw/pick-n-pay-22-million-fraud-mastermind-on-zrp-wanted-list-since-2008/">Pick n Pay Fraud Mastermind On ZRP Wanted List Since 2008</a></li>
<li><a href="https://zero.pindula.co.zw/minister-mutsvangwa-loses-us25-000-housemaid/">Minister Mutsvangwa Loses US25 000 To Housemaid</a></li>
<li><a href="https://zero.pindula.co.zw/mutsvangwas-son-in-ilegal-foreign-currency-deals/">Mutsvangwa’s Son In Ilegal Foreign Currency Deals</a></li>
</ul>
More: <a href="https://zero.pindula.co.zw/">Pindula News</a>; <a href="https://www.thestandard.co.zw/">The Standard</a>

Mutsvangwa's Son Loses $600k In Fraudulent Transactions

Zimbabwe recorded a spike in the consumption of LP gas in the first quarter of 2021 amid intermittent power supply.
The Zimbabwe Energy Regulatory Authority (Zera) reports that Zimbabweans used nearly 13 million kg of Liquefied Petroleum Gas (LP Gas) in the first three months of the year.
This was an increase from 11 million kg consumed over the same period last year.
Zera attributes the spike in the consumption levels of LP Gas to the growing appetite for cleaner and cheaper energy among local consumers.
Zimbabwe consumed only 1 million kg of LPG at the beginning of 2016. Speaking to The Sunday Mail, Zera board chair Dr David Madzikanda said:
<blockquote>_The sector has matured over the years as evidenced by the imports and consumption trends in the country._
_The product is used mainly for cooking, heating and lighting. As the regulator, we intend to introduce a raft of new measures to ensure the sector is attractive to investors, safe and conforming to regulations, standards and codes._</blockquote>
Zimbabweans used 4 131 000kg of LP Gas in January, while 3 872 756kg were used in February and 4 995 281kg in May.
Consumption is expected to rise in winter.
Zimbabwe has been having a huge power shortage forcing citizens to turn to alternatives such as solar and LP Gas.

<ul>
<li class="entry-title"><a href="https://news.pindula.co.zw/2021/02/04/zera-urged-to-remove-duty-on-lpg-equipment-gas/">ZERA Urged To Remove Duty On LPG Equipment, Gas</a></li>
<li class="entry-title"><a href="https://news.pindula.co.zw/2020/01/08/watch-zeras-lp-gas-safety-guidelines/">WATCH: ZERA’s LP Gas Safety Guidelines</a></li>
<li class="entry-title"><a href="https://news.pindula.co.zw/2020/01/11/watch-zimbabwean-modifies-honda-fit-petrol-powered-engine-to-run-on-lp-gas/">WATCH: Zimbabwean Modifies Honda Fit Petrol-powered Engine To Run On LP Gas</a></li>
<li class="entry-title"><a href="https://news.pindula.co.zw/2019/11/26/buy-gas-from-reputable-suppliers-zera-warns-consumers-as-gas-usage-increases/">“Buy Gas From Reputable Suppliers,” ZERA Warns Consumers As Gas Usage Increases</a></li>
<li class="entry-title"><a href="https://news.pindula.co.zw/2019/11/04/zera-to-regulate-gas-prices-to-protect-consumers/">ZERA To Regulate Gas Prices To Protect Consumers</a></li>
</ul>
More: <a href="https://news.pindula.co.zw/">Pindula News</a>; <a href="https://www.sundaymail.co.zw/lp-gas-consumption-up">The Sunday Mail</a>

Zimbabwe Records Spike In Consumption Of LP Gas

The high bank charges being levied by financial institutions to depositors are being driven by the cost of imported software, a government official has said.
Finance and Economic Development Deputy Minister Clemence Chiduwa admitted that bank charges were indeed high and the Government has engaged banks over the issue.
Responding to questions in Parliament Wednesday, Chiduwa said feedback from financial institutions was that imported software cost was a major push factor. He said:
<blockquote>Bank charges on transactions that are being levied by our banks are on the upper side. We have engaged our banks and the primary reason they are fighting for high bank charges is because of the software system they are using. Most of the systems they are using are imported.</blockquote>
Chiduwa stressed the need to continue enhancing the availability of foreign currency to reduce the cost of imported software and other accessories.
This comes after concerns have been raised over the high bank charges on transactions, which drive the public from using the formal banking system.
High bank charges also tend to increase demand for cash, as more people choose to avoid costly electronic transactions and account service charges.
<h4>More: <a href="https://www.ebusinessweekly.co.zw/imported-software-blamed-for-high-banking-charges/" rel="noopener" target="_blank">Business Weekly</a></h4>

Imported Software Blamed For High Banking Charges

The Grain Millers Association of Zimbabwe (GMAZ) says the government has agreed to ban maize imports in order to ring-fence this year’s good harvest.
Addressing journalists in Bulawayo on Thursday, GMAZ chairperson Tafadzwa Musarara stated that the move was also meant to ensure the local market was protected for the benefit of local millers. Said Musarara:
<blockquote>In order to safeguard everything, we then agreed with the government that they are going to ban the importation of maize into the country.
Importation of maize meal and any other maize processed products is going to be banned.
This is meant to ring-fence our harvest and make sure that the market is protected for the local.</blockquote>
Musarara said GMAZ was working with the government to stop the side marketing of maize contract farmers.
The GMAZ boss also said they have engaged the government to ensure police roadblocks were set up on all major roads from feeder borders. He said:
<blockquote>We are aware of imports that might come from Zambia, South Africa, Mozambique and Malawi.
The whole region has received a bumper crop, so we are fully behind government in the setting up of roadblocks from the main feeder boarders and we will partly contribute financially to that programme as in funding the entire policing so that side marketing is killed.
Side marketing for the past decade has been affecting the successful implementation of contract farming in this country.
I am happy that government this time is coming very strongly so that our bumper harvest, our local agriculture is protected.</blockquote>
<h4>More: <a href="https://www.newzimbabwe.com/govt-millers-agree-on-maize-import-ban-to-protect-domestic-yield/" rel="noopener" target="_blank">NewZimbabwe.com</a></h4>

Government, Millers Agree On Maize Import Ban

What is Special Excise Duty? 
Special Excise Duty is charged in terms of Section 172B of the Customs and Excise Act [Chapter 23:02]). It is a tax levied on the sale, transfer or disposal of second-hand motor vehicles on change of ownership.
A second-hand motor vehicle is a Zimbabwe registered motor vehicle and includes vehicles required to be registered according to the Vehicle Registration and Licensing Act, which is sold or disposed of to another person.
Special Excise Duty Rates 
The amount to be paid to ZIMRA for Special Excise Duty on the change of ownership of second-hand motor vehicles is as per the schedule below.
These new amounts apply to change of ownership with effect from 1 January 2021. Documents required for change of ownership of a second-hand motor vehicle.
1. Motor vehicle registration book (original not copy)
2. Central Vehicle Registry Form Number 4 signed and stamped by the Zimbabwe Republic Police’s Vehicle Theft Squad (ZRPVTS). This signed Police clearance is valid for 14 days from the date of issue.
3. Certified copies of National Identity Certificates for both buyer and seller.
4. Proof of residence for buyer and seller in the form of utility bill for water, electricity or any other such document
5. Agreement of sale signed by buyer and seller with the following details: 
a. Full names, addresses and national identity numbers for buyer and seller.
b. Details of the vehicle, i.e. make, model, year of manufacture, engine and chassis numbers
c. Full sale price – proof of payment should be in the form of invoices, receipts and telegraphic transfers.
Exemption from Special Excise Duty. 
The following transfers of ownership of second-hand motor vehicles are exempt from paying Special Excise Duty:
1. Transfers between spouses married under the customary law or Marriage Act.
2. Between parents and children of such a marriage
3. Companies under the same control
4. Vehicle acquired by way of inheritance
5. Sales between or transfer to Private Voluntary Organisations.

ZIMRA On Special Excise Duty On Change Of Ownership Of Second-Hand Motor Vehicles {Full Text}

The Reserve Bank of Zimbabwe (RBZ) has issued a list of beneficiaries of foreign currency under the central bank’s forex auction system.
In a statement, the RBZ said:
<blockquote>This statement is being issued in line with the Bank’s commitment to regularly keep the public informed on developments under the Foreign Exchange Auction System.
In terms of the foregoing, the 1334 beneficiaries of the Main Foreign Exchange Auction over the period June 2020 to April 2021 are listed hereunder for public information. A list of the 1744 beneficiaries of the SMEs Foreign Exchange Auction during the same period is also attached.</blockquote>
<h3>FULL LIST: <a href="https://t792ae.c2.acecdn.net/wp-content/uploads/2021/05/Press-Statement-on-Foreign-Exchange-Allotments-.pdf">June 2020 to April 2021 Forex Auction Beneficiaries</a></h3>

<ul>
<li class="entry-title"><a href="https://news.pindula.co.zw/2021/03/17/rbzs-list-of-forex-exchange-auction-beneficiaries-is-misleading-magaisa/">RBZ’s List Of Foreign Currency Auction Beneficiaries Is Misleading – Magaisa</a></li>
<li class="entry-title"><a href="https://news.pindula.co.zw/2021/03/16/full-list-top-100-beneficiaries-of-the-rbz-forex-auction/">Full List: Top 100 Beneficiaries Of The RBZ Forex Auction</a></li>
<li class="entry-title"><a href="https://news.pindula.co.zw/2021/05/05/rbz-forex-auction-zimbabwe-dollar-drops-against-usd-2/">RBZ Foreign Currency Auction: Zimbabwe Dollar Drops Against USD</a></li>
<li class="entry-title"><a href="https://news.pindula.co.zw/2021/04/30/update-rbz-selling-forex-to-bureaux-de-change-fresh-details/">UPDATE: RBZ Selling Forex To Bureaux De Change -Fresh Details</a></li>
<li class="entry-title"><a href="https://news.pindula.co.zw/2021/03/16/full-text-rbz-statement-on-funding-of-forex-applications/">FULL TEXT: RBZ Statement On Funding Of Forex Applications</a></li>
</ul>
More: <a href="https://news.pindula.co.zw/">Pindula News</a>

PDF: RBZ List Of Forex Auction System Beneficiaries

The Chief Executive Officer (CEO) of the Zimbabwe Stock Exchange (ZSE), Justin Bgoni has said the re-listing of Old Mutual and PPC on the ZSE is expected soon.
He made the remarks while addressing participants at the 2021 edition of the Zimbabwe Financial Markets Indaba.
The government <a href="https://zero.pindula.co.zw/fungible-securities-old-mutual-ppc-seed-co-international-will-not-be-allowed-to-trade-on-the-zse-when-trading-resumes-next-week-report/">last year banned the movement of PPC and Old Mutual shares</a> across borders claiming that this fueled currency speculation.
Financial services giant, Old Mutual and cement producer PPC which were trading in Zimbabwe and South Africa were suspended alongside agro-technology concern SeedCo, which was trading its stock on the Botswana Stock Exchange and given the option to list on Victoria Falls Stock Exchange, which began trading in October.
ZSE speaks barely two months after Finance and Economic Development Minister Mthuli Ncube extended the suspension of the fungibility of Old Mutual and PPC Limited stock by an additional 12 months.
Pressure on finalisation of the matter continues to mount on the government as several fund managers bemoan over seven months since the shares have been suspended without any tangible steps to make the shares liquid.
The Insurance and Pensions Commission recently added its voice on the matter saying the suspension of Old Mutual and PPC shares affected asset value.
Investopedia describes Fungibility as the ability of a good or asset to be interchanged with other individual goods or assets of the same type. Fungible assets simplify the exchange and trade processes, as fungibility implies equal value between the assets. For instance, specific grades of commodities, such as No. 2 yellow corn, are fungible because no matter where the corn was grown, all corn designated as No. 2 yellow corn is worth the same amount.
<ol>
<li><a href="https://zero.pindula.co.zw/mthuli-extends-suspension-of-old-mutual-ppc-stock-fungibility-by-12-months/">Mthuli Extends Suspension Of Old Mutual, PPC Stock Fungibility By 12 Months</a></li>
<li><a href="https://zero.pindula.co.zw/fungible-securities-old-mutual-ppc-seed-co-international-will-not-be-allowed-to-trade-on-the-zse-when-trading-resumes-next-week-report/">Fungible Securities Old Mutual, PPC &amp; Seed Co International Will Not Be Allowed To Trade On The ZSE When Trading Resumes Next Week – Report</a></li>
<li><a href="https://zero.pindula.co.zw/rbz-must-now-deal-with-old-mutual-implied-rate-opinion/">“RBZ Must Now Deal With Old Mutual Implied Rate?” – OPINION</a></li>
<li><a href="https://zero.pindula.co.zw/frequently-asked-questions-old-mutual-implied-rate-omir/">Frequently Asked Questions: Old Mutual Implied Rate (OMIR)</a></li>
<li><a href="https://zero.pindula.co.zw/dont-accuse-young-men-on-4th-st-old-mutual-the-culprit-of-exchange-rate-mutsvangwa/">“Don’t Accuse Young Men On 4th ST, Old Mutual The Culprit Of Exchange Rate” – Mutsvangwa</a></li>
<li><a href="https://zero.pindula.co.zw/suspension-of-seedco-international-from-zse-lifted/">Suspension Of SeedCo International From ZSE Lifted</a></li>
</ol>
More: <a href="https://zero.pindula.co.zw/">Pindula News</a>; <a href="https://www.newzimbabwe.com/zse-optimistic-on-urgent-old-mutual-ppc-listing-resolution/">NewZimbabwe</a>

Re-listing Of Old Mutual, PPC On ZSE Expected Soon

<a href="https://www.pindula.co.zw/Senditoo">Senditoo, a FinTech company</a> that allows Diasporans to instantly send airtime to all Mobile Networks in Zimbabwe, has partnered with Star FM for ‘major’ takeover of several shows.
Senditoo Co-founder Takwana Tyaranini and his team are taking over several shows on Star FM, after acquiring presentation rights on the popular Zimbabwean radio station.
The move is part of the international money transfer company’s communications strategy, as they expand their brand presence in the country and within Africa. They will produce and host several live shows, including Tilder Live, The Breeze with Mai Juda and the Breakout with Olla7.
Senditoo has grown in the last five years, starting with airtime transfers before extending its service offer to include money remittances and enabling customers to also pay their bills. Tyaranini said:
<blockquote>_This new partnership with Star FM demonstrates our commitment to establishing a strong presence in Zimbabwe that goes beyond the existing business model._</blockquote>
Tyaranini said that the partnership, the first of its kind, is a significant step for Senditoo and added that he is delighted to be working with some of the most respected radio personalities and producers to develop a series of entertaining and educational shows. He said:
<blockquote>_We have been working tirelessly behind the scenes to create a robust communications initiative that will not only allow Senditoo to reach a wider audience but will also create opportunities for both entities to grow through this collaboration._
_Star FM already has a large audience both locally and internationally. The vast digital and podcast opportunities will deliver the brand visibility and recognition we need for our growing business and we look forward to sharing the work we are doing in the weeks and months ahead._</blockquote>
Senditoo covers 39 countries in Africa including Zimbabwe, South Africa, Nigeria Rwanda, Ghana, Botswana and Ethiopia.

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<li class="entry-title"><a href="https://news.pindula.co.zw/2019/10/24/uk-based-zimbabwean-launches-digital-money-transfer-senditoo/">UK-based Zimbabwean Launches Digital Money Transfer, Senditoo</a></li>
<li class="entry-title"><a href="https://news.pindula.co.zw/2017/10/09/2017-influential-entrepreneurs-40/">“2017 Most Influential Entrepreneurs Under 40”</a></li>
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<li class="entry-title"><a href="https://news.pindula.co.zw/2020/11/30/34-year-old-uk-based-zimbabwean-makes-supercar/">34-Year-Old UK-Based Zimbabwean Makes Supercar</a></li>
<li class="entry-title"><a href="https://news.pindula.co.zw/2019/11/03/uk-based-zimbabwean-tech-whiz-invents-self-driving-vehicle/">UK-Based Zimbabwean Tech Whiz Invents Self-Driving Vehicle</a></li>
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More: Pindula News

Senditoo Partners With Star FM For ‘Major’ Takeover

The Zimbabwe dollar continued to shed value against the USD according to results from the <a href="https://www.pindula.co.zw/Reserve_Bank_of_Zimbabwe">Reserve Bank of Zimbabwe (RBZ)</a>’s foreign exchange auction.
Results from the Tuesday, 11 May 2021 <a href="https://www.pindula.co.zw/Foreign_Exchange_Auction_System">RBZ forex auction</a> show that the weighted average fell slightly from US$1: ZWL$84.5282 last week to US$1:ZWL$84.6140 this week.
This week US$5 million was allocated to the Small to Medium Enterprises forex auction while US$37 million was allocated to the main forex auction.
In total, US$42 million was allotted this week, with the bulk of the allotment going to raw materials followed by machinery and equipment.
382 bids were received on the Small to Medium enterprises forex auction, with 335 accepted and 47 disqualified.
On the main forex auction, a total of 362 bids were received, 329 were accepted while 33 were disqualified.
<a href="https://www.pindula.co.zw/Reserve_Bank_of_Zimbabwe">The Reserve Bank of Zimbabwe (RBZ)</a> said bids that were disqualified were not eligible in terms of the Priority List.
Bids with overdue CDIs, outstanding Bills of Entry (BOEs), and those with sufficient FCA balances were also disqualified.
Some bids were allotted on a pro-rata basis to conform with the Import Priority List, the RBZ said.
<table class="table table-bordered table-hover" id="table_1">
<tbody>
<tr>
<td title="Character Accurarcy=99.79">PURPOSE</td>
<td title="Character Accurarcy=99.69">AMOUNT ALLOTTED SME AUCTION</td>
<td title="Character Accurarcy=99.83">AMOUNT ALLOTTED MAIN AUCTION</td>
</tr>
<tr>
<td title="Character Accurarcy=99.96">Raw Materials</td>
<td title="Character Accurarcy=99.87">1,193,446.14</td>
<td title="Character Accurarcy=99.9">16,412,069.18</td>
</tr>
<tr>
<td title="Character Accurarcy=99.97">Machinery and Equipment</td>
<td title="Character Accurarcy=99.92">1,327,093.83</td>
<td title="Character Accurarcy=99.84">6,507,907.31</td>
</tr>
<tr>
<td title="Character Accurarcy=99.42">Consumables (Incl. Spares, Tyres, Electricals, etc)</td>
<td title="Character Accurarcy=99.91">1,097,024.55</td>
<td title="Character Accurarcy=99.88">3,344,573.54</td>
</tr>
<tr>
<td title="Character Accurarcy=99.31">Services (Loans, Education, Dividends, Disinvestments, etc)</td>
<td title="Character Accurarcy=99.92">338,693.52</td>
<td title="Character Accurarcy=99.92">3,166,705.23</td>
</tr>
<tr>
<td title="Character Accurarcy=99.63">Retail and Distribution (Incl. Food, Beverages, etc)</td>
<td title="Character Accurarcy=99.79">454,994.39</td>
<td title="Character Accurarcy=99.53">2,480,283.20</td>
</tr>
<tr>
<td title="Character Accurarcy=99.82">Fuel, Electricity and Gas</td>
<td title="Character Accurarcy=99.91">157,948.86</td>
<td title="Character Accurarcy=99.75">1,446,674.21</td>
</tr>
<tr>
<td title="Character Accurarcy=99.6">Pharmaceuticals and Chemicals</td>
<td title="Character Accurarcy=99.9">295,113.59</td>
<td title="Character Accurarcy=99.62">2,087,994.87</td>
</tr>
<tr>
<td title="Character Accurarcy=99.89">Paper and Packaging</td>
<td title="Character Accurarcy=99.74">224,770.33</td>
<td title="Character Accurarcy=99.84">1,090,274.88</td>
</tr>
<tr>
<td title="Character Accurarcy=99.8">TOTAL</td>
<td title="Character Accurarcy=99.94">5,089,085.21</td>
<td title="Character Accurarcy=99.78">36,536,482.42</td>
</tr>
<tr>
<td title="Character Accurarcy=99.84">GRAND TOTAL AWARDED</td>
<td title="Character Accurarcy=0"></td>
<td title="Character Accurarcy=99.7">41,625,567.63</td>
</tr>
</tbody>
</table>
More: <a href="https://news.pindula.co.zw/">Pindula News</a>

RBZ Forex Auction: Zimbabwe Dollar Further Drops Against USD

<blockquote>The following vacancy has arisen within First Mutual Group Legal and applications are invited from suitably qualified and experienced persons to fill this vacancy. The Assistant Compliance Officer will provide independent assurance to management on the design adequacy and operating effectiveness of systems of internal control to ensure the effective management of significant risks across the group as business units discharge their various activities.
The Job 
Reporting to the Group Compliance Officer, the successful candidates will be responsible for the following:
<ul>
<li>Researching. developing and updating Group companies Compliance Checklists and Compliance Risk Management, Planning and ensuring that they capture all new tax and regulatory developments always</li>
<li>Checking that tax computations and returns are correct and that the same is paid on time.</li>
<li>Assisting with the application of Tax Clearance Certificates and business licenses for Group companies</li>
<li>Identifying and assessing nsk areas across the Group and submit recommendations for compliance risk minimization</li>
<li>Checking the activities of Fund Managers, Dealers and all assets and liabilities view to maintain prudent balance of liquidity always</li>
<li>Researching market trends and continuously!regulady review and update the company’s lending and credit policies to confirm constancy with market.</li>
<li>Ensuring the company’s compliance with the legal requirements of the prevailing Collective Investment Schemes Act and all related statutory regulations</li>
<li>Checking and confirming that the Group implements policies, procedures and internal controls on handling suspicious transactions</li>
<li>Managing and updating the Employee Training Program on Anti-Money Laundering and Combating of Financing of Terrorism (AML/CFT)</li>
<li>Compiling draft compliance report highlighting non-adherence to set standards and guidelines, risk implication. give appropnate recommendations and submits to management for responses</li>
<li>Keep abreast of current issues and areas of risk, and appropriately focus attentionidentification on areas that pose high risk Participate in necessary education and training to attain essential knowledge and information</li>
</ul>
Qualifications &amp; Experience: 
The ideal candidate must possess the following: 
<ul>
<li>Degree in Finance, Accounting, Fiscal Studies or related.</li>
<li>2 years’ experience in a similar or related environment</li>
<li>Familiarity with Regulatory Compliance. Preferred Requirements</li>
<li>Results oriented with good self- management skills.</li>
<li>Must be able to work independently</li>
<li>Research and due diligence skills</li>
<li>Working knowledge and application experience of Financial Markets Legislation is advantageous.</li>
</ul>
Candidates meeting the above criteria should forward their Curriculum Vitaes (CVs) and application letters to Group Human Resources via the following email address careers@firstmutualholdings.com. Applications should be sent by and not later than the 18th of May 2021. N.B Clearly label the position you applying for in the subject line. Talent Acquisition Team 11 May 2021</blockquote>

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<li class="entry-title"><a href="https://news.pindula.co.zw/2021/05/09/more-than-170k-new-jobs-created-since-2017/">More Than 170k New Jobs Created Since 2017</a></li>
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VACANCY ALERT: First Mutual Is Recruiting

Innscor Africa Limited has seen a significant volume recovery despite the prevailing coronavirus pandemic that has dampened growth for many companies worldwide.
The Zimbabwe Stock Exchange (ZSE) listed conglomerate attributes the recovery and growth trajectory to deliberate reviewing of the business models in light of a changing operating environment.
Presenting a trading update for the third quarter ended March 31 2021 recently, Innscor’s company secretary, Andrew Lorimer said:
<blockquote>
_Whilst the prospects of the local agricultural season appear very positive and the prevailing economic stability proving conducive for business, inherent complexities remain._
_Ongoing Covid-19 related cost and inefficiencies continue to periodically affect global supply chains, while the real cost-push effects of transitioning out of a hyper-inflationary environment have required continual evaluation and adjustment of the Group’s business models._
_At present, the financial status of the group remains healthy, and the impact of the Covid-19 has not created any issues from a solvency or liquidity perspective._
</blockquote>
Lorimer reported that National Foods’ cumulative nine-month aggregate volume growth remained steady at 14% over the comparative period while the flour division experienced strong consumer demand.
The poultry sector recovery continued to drive favourable growth within the stockfeed division while the groceries division maintained good growth momentum, driven by firm demand in both the rice and salt categories.
The Reserve Bank of Zimbabwe (RBZ)’s foreign exchange auction system launched last year has been largely credited for placing local companies, including Innscor, on a recovery and growth trajectory.
Under the system, companies bid for the scarce foreign currency which is a key resource as they get most of their commodities abroad.

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<li class="entry-title"><a href="https://news.pindula.co.zw/2021/03/02/mthuli-ncubes-gdp-growth-projections-a-mirage-zncc/">Mthuli Ncube’s GDP Growth Projections A Mirage -ZNCC</a></li>
<li class="entry-title">
<a href="https://news.pindula.co.zw/2020/10/24/economic-growth-without-food-jobs-is-meaningless-dailynews/">Economic Growth Without Food, Jobs Is Meaningless</a>
</li>
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<a href="https://news.pindula.co.zw/2020/03/01/imf-revises-zimbabwes-economic-growth-forecast-from-2-7-to-0-8/">IMF Revises Zimbabwe’s Economic Growth Forecast From 2.7% to 0.8%</a>
</li>
<li class="entry-title">

</li>
</ul>
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Innscor Records Recovery Despite The Pandemic Raging On

The Tobacco Industry and Marketing Board (TIMB) says it is investigating contractors who are allegedly manipulating the prices of the golden leaf thereby shortchanging farmers.
TIMB chairman Patrick Devenish said that the tobacco industry regulator has observed prices being paid to farmers by contractors were lower than those prevailing at the auction floors. Said Denevish:
<blockquote>We are following up on those developments and after the completion of investigations, we hope to resolve that anomaly as quickly as possible.</blockquote>
Zimbabwe Commercial Farmers Union (ZFCU) president Shadreck Makombe said the fall in contracted tobacco prices could see some farmers failing to pay debts and lose their properties to the merchants. He said:
<blockquote>In the past few weeks, I have seen a significant drop in contract prices compared to the auction ones, this is worrisome in that the majority of farmers are now contracted and they can’t service off their debts.
This may result in some farmers losing their cattle, carts and other valuables when merchants move to recover their money.</blockquote>
Makombe said 95 per cent of tobacco farmers were contracted by merchants and other private companies.
He said the tobacco contractors have colluded on prices to ensure that farmers will languish in debt and will not be able to finish off debts. Added Makombe:
<blockquote>Having seen that farmers were starting to gain ground, the merchant’s convened mid-April to start fixing the prices and from the early 20s of April, the pricing started falling.
At the beginning of the selling season, contracted tobacco was fetching an average price of US$2,40 per kilogramme (kg) while auctioned tobacco averaged US$2,15 per kg but last week, the price of contracted tobacco was pegged at US$2,60 per kg compared to US$2,66/kg for auctioned tobacco.</blockquote>
<h4>More: <a href="https://www.sundaynews.co.zw/tobacco-board-investigates-forex-leakages/" rel="noopener" target="_blank">The Sunday News</a></h4>

Tobacco Contractors Accused Of Collusion

The Zimbabwe Revenue Authority (ZIMRA) says the movement of traffic at the Beitbridge Border Post is back to normal after additional routes were opened.
The movement of traffic through Zimbabwe’s border with South Africa had been interrupted owing to the upgrade construction project being undertaken on the Zimbabwean side. ZIMRA said in a public notice:
<blockquote>The Zimbabwe Revenue Authority (ZIMRA) wishes to advise all travellers, importers, exporters, transporters, clearing agents and the general public that following the publication of Public Notice Number 41 of 2021, the position communicated in the previous notice about traffic congestion has since regularized and traffic flows have returned to normal.
This followed the reorganization of traffic flows at Beitbridge by opening up additional entry routes.
Stakeholders are accordingly advised and are encouraged to continue engaging the Authority through the various communication channels as the border upgrade construction project continues.</blockquote>

Beitbridge Border Traffic Congestion Cleared - ZIMRA

Zimbabwe’s milk production fell by 7% to 17.8 million litres in the first quarter of the year mainly due to the high cost of breeding stock, stockfeed and veterinary drugs.
In its latest report, the Lands, Agriculture, Fisheries, Water and Rural Resettlement Ministry revealed that total milk production in January 2021 stood at 6.5 million litres before dropping to 5.4 million litres in February.
Milk production was also low in March and the current production levels are still not able to satisfy national requirements. The report says:
<blockquote>The current dairy herd stands at 39 000 animals with 19 000 milking cows. The national target for milking cows to meet and exceed requirements is 32 000. The average production per cow per day was 13 litres.
The smallholder dairy sector still contributes about 4% of national milk production. Productivity remains low due to the high cost of breeding stock, stockfeed and veterinary drugs.</blockquote>
Speaking to NewsDay recently, the Zimbabwe Association of Dairy Farmers (ZADF) chairperson Kudzai Chirima said currently it is not viable for farmers to produce milk because of low prices. He said:
<blockquote>We have a milk shortage in the country. Farmers realised that it’s not viable to produce milk at the moment because of the prices that are being paid by processors.
The prices are ranging from $42 to $48 per litre, yet some are selling at $157 while others at $127.
They can’t even pay the farmer who is producing, at least half of that. Stockfeed prices have also gone up.</blockquote>
Chirima said they have engaged the milk processors and some of them have increased their prices from $42 to about $50 per litre though the price is still unviable.
Despite the challenges that farmers are facing, Chirima said they are targeting to produce 85 million litres of milk this year, against the national requirement of 120 million litres.
At the moment, Zimbabwe imports approximately 48% of its annual milk requirements.
<h4>More: <a href="https://www.newsday.co.zw/2021/05/milk-production-drops-7/" rel="noopener" target="_blank">NewsDay</a></h4>

Zimbabwe's Milk Output Falls By 7%

This article was sponsored by Cassava Smartech
The Econet Group through its subsidiary Cassava Fintech International (Cassava Fintech) and Mastercard have entered into a strategic partnership to advance digital inclusion across Africa and collaborate on a range of initiatives, including expansion of the Africa CDC TravelPass.
TravelPass is a digital health pass developed by Cassava Fintech and offered in conjunction with the Africa Centres for Disease Control and Prevention (Africa CDC).
It is accessible to users of Cassava Fintech’s Sasai SuperApp and is recognised as one of the leading initiatives in the fight against the cross-border spread of Covid-19 in Africa.
Mastercard is partnering with Cassava Fintech to enhance the security of TravelPass through Mastercard’s Community Pass platform.
Mastercard Community Pass is an interoperable digital platform facilitating service delivery for marginalised individuals and communities, including access to critical health services such as patient care plan tracking for Covid-19.
The joint initiative between Mastercard and Cassava Fintech seeks to offer a unified solution with greater convenience and enhanced security, that is expected to promote safe cross border travel in Africa in response to the Covid-19 pandemic.
The partnership will also allow the two organizations to explore collaboration such as the further integration of the Community Pass with Cassava Fintech’s mobile and financial services, acquiring and processing of card payments across the continent, along with the introduction of a virtual or physical card on the Sasai SuperApp.
Cassava Fintech’s CEO, Darlington Mandivenga, said the partnership with Mastercard would pave the way for both companies to jointly tackle the challenges facing African economies as they re-open post the COVID-19 pandemic.
“We are excited to work with Mastercard to explore solutions that will, among other things, mitigate the risk of falsified presentation of a third party’s Travel Pass at access and transit points,” Mandivenga said, adding that the same technology could also be used in payment solutions.
Cassava Fintech uses an integrated model to provide financial and digital services to ensure a “financially inclusive future that leaves no African behind”.
“We look forward to joining hands with Cassava Fintech in exploring new solutions that will make a difference and benefit the continent. In addition to digital innovation for future travel, Cassava will also leverage our secure payments network to advance access to financial services,” said Mark Elliott, Divisional President, Southern Africa, Mastercard.
Mastercard is a leading global technology company focused on building an inclusive, sustainable digital economy that benefits everyone, everywhere, by making transactions safe, simple, smart and accessible.
END///

Cassava Fintech, Mastercard Partner On Expansion Of Africa CDC TravelPass

Zimbabwe has pledged support for UK-based potential investors intending to invest capital in the southern African nation.
The country’s ambassador to the UK, <a href="https://www.pindula.co.zw/Christian_Katsande">Ambassador Christian Katsande</a> implored the investor community to tap into Zimbabwe’s vast economic opportunities, especially in the Special Economic Zones (SEZ), mining, agriculture, and manufacturing.
Speaking at the virtual Zimbabwe Finance Conference (ZFC) organised by the Financial Markets Indaba Wednesday, Ambassador Katsande said:
<blockquote>
-Special Economic Zones have been established in Harare Sunway City, Bulawayo, Fernhill in Mutare and Victoria Falls. Companies are expected to be established in medicals and manufacturing and chrome mining._
_Distinguished guests, Zimbabwe is open for business and the embassy is ready to facilitate and assist you as you explore vast opportunities back home._
</blockquote>
Speaking at the same conference, the deputy director in the Economic Research and Policy Division at the Reserve Bank of Zimbabwe (RBZ), Nebson Mupunga urged UK-based investors to tap into the obtaining recovering economic environment. Mupunga said:
<blockquote>
_To date, the central bank has managed to create a conducive environment and as we proceed, we expect banks to offer more attractive products for the banking and investing public. Interest rates for deposits have been reduced to 2.5% by the central bank in a bid to motivate long-term deposits._
</blockquote>
Investors have not been willing or unable to invest in the revival of the country’s economy due to unfavourable government policies and high-level corruption among senior government officials in getting their businesses approved.
Participants at the virtual Zimbabwe Finance Conference also called for fundamental domestic savings mobilisation and confidence restoration to drive economic growth.
More: <a href="https://news.pindula.co.zw/">Pindula News</a>; <a href="https://www.newzimbabwe.com/ambassador-katsande-pledges-govt-support-for-uk-based-zim-investors/">NewZimbabwe</a>

Zimbabwe Pledges Support For UK-Based Investors

The <a href="https://www.pindula.co.zw/Zimbabwe_Energy_Regulatory_Authority#:~:text=The%20Zimbabwe%20Energy%20Regulatory%20Authority,13%3A23%5D%20of%202011.&amp;text=ZERA%20is%20mentioned%20on%20p22,are%20the%20Second%20Case%20Study.">Zimbabwe Energy Regulatory Authority</a> (ZERA) has announced fuel prices that are effective from 5 May 2021. Zera advised that the fuel prices effective Wednesday 5 May 2021 are as follows:
<table class="table table-bordered table-hover" id="table_1">
<tbody>
<tr>
<td title="Character Accurarcy=99.73"></td>
<td title="Character Accurarcy=99.39">
<table class="table table-bordered table-hover" id="table_1">
<tbody>
<tr>
<td title="Character Accurarcy=99.39">ZWL $</td>
</tr>
</tbody>
</table>
<a href="https://news.pindula.co.zw/">Diesel 50</a>(ZWL/Litre)                 </td>
<td title="Character Accurarcy=99.94"> 
Blend (E20)/Litre)             <a href="https://news.pindula.co.zw/"> 
</a></td>
<td title="Character Accurarcy=99.94">
<table class="table table-bordered table-hover" id="table_1">
<tbody>
<tr>
<td title="Character Accurarcy=99.39">USD $</td>
</tr>
</tbody>
</table>
 
<a href="https://news.pindula.co.zw/">Diesel 50 </a>(ZWL/Litre)</td>
<td title="Character Accurarcy=99.97"><a href="https://news.pindula.co.zw/">Blend</a>(E20)/Litre)</td>
<td title="Character Accurarcy=99.8"></td>
</tr>
<tr>
<td title="Character Accurarcy=99.84"><a href="https://news.pindula.co.zw/">Maximum Pump Price</a>           </td>
<td title="Character Accurarcy=99.69">111.43</td>
<td title="Character Accurarcy=99.73">112.62</td>
<td title="Character Accurarcy=97.76">1.32</td>
<td title="Character Accurarcy=99.98">1.33</td>
<td title="Character Accurarcy=99.02"></td>
</tr>
</tbody>
</table>
A month ago, ZERA reviewed fuel prices as follows:
<ul>
<li>Diesel 50 (ZWL/Litre) – $111.77</li>
<li>Blend (ZWL/Litre) – $112.96</li>
<li>Diesel 50 (USD/Litre) – $1.32</li>
<li>Blend (USD/Litre) – $1.34</li>
</ul>
Operators may sell at prices below the cap depending on their trading advantages. Stakeholders are advised that the petroleum price releases by ZERA can be verified on the official ZERA website, WhatsApp, Facebook or Twitter handle.

<ol>
<li class="entry-title"><a href="https://news.pindula.co.zw/2021/05/01/zimbabwes-fuel-consumption-falls/">Zimbabwe’s Fuel Consumption Falls</a></li>
<li class="entry-title">
<a href="https://news.pindula.co.zw/2021/04/05/south-africa-increases-fuel-prices/">South Africa Increases Fuel Prices</a>
</li>
<li class="entry-title">
<a href="https://news.pindula.co.zw/2021/03/26/global-fuel-prices-expected-to-rise-after-massive-ship-blocked-suez-canal/">Global Fuel Prices Expected To Rise After Massive Ship Blocked Suez Canal</a>
</li>
<li class="entry-title">
<a href="https://news.pindula.co.zw/2021/03/28/full-text-new-fuel-licensing-conditions-zera/">FULL TEXT: New Fuel Licensing Conditions -ZERA</a>
</li>
<li class="entry-title">
<a href="https://news.pindula.co.zw/2021/04/05/new-fuel-prices-effective-5-april-2021/">New FUEL Prices Effective 5 April 2021</a>
</li>
<li class="entry-title">
<a href="https://news.pindula.co.zw/2020/12/15/zesa-introduces-system-that-allows-customers-sell-excess-solar-power/">ZESA Introduces System That Allows Customers To ‘Sell’ Excess Solar Power</a>
</li>
<li class="entry-title"><a href="https://news.pindula.co.zw/2021/04/15/riozim-to-commence-work-on-solar-power-plant/">RioZim To Commence Work On Solar Power Plant</a></li>
</ol>
More: <a href="https://news.pindula.co.zw/">Pindula News</a>

ZERA Announces Fuel Prices Effective 5 May

<h4>While some companies registered losses following the outbreak of the coronavirus pandemic, some were profitable during the same period.</h4>
<h4>The world’s largest two economies by far, the U.S. and China, are headquarters for every one of the 10 most profitable companies: half are U.S. and half are Chinese.</h4>
<h4>Equally important, half of the corporations on the list are technology companies and the other half are financial companies.</h4>
<h4>We present below the 10 Most Profitable Companies in the World in 2020.</h4>
1. Apple Inc.
<ul>
<li>Net Income: $58.4 billion</li>
<li>Revenue: $273.9 billion</li>
<li>Market Cap: $2.1 trillion</li>
</ul>
<h4 class="comp mntl-sc-block finance-sc-block-heading mntl-sc-block-heading" id="mntl-sc-block_1-0-17"><a href="https://news.pindula.co.zw/2020/03/14/bill-gates-steps-down-from-microsoft-board/">2. Microsoft Corp</a></h4>
<ul class="comp mntl-sc-block finance-sc-block-html mntl-sc-block-html" id="mntl-sc-block_1-0-18">
<li>Net Income: $44.3 billion</li>
<li>Revenue: $143.0 billion</li>
<li>Market Cap: $1.6 trillion</li>
</ul>
<h4 class="comp mntl-sc-block finance-sc-block-heading mntl-sc-block-heading" id="mntl-sc-block_1-0-22">3. Industrial And Commercial Bank Of China Ltd.</h4>
<ul class="comp mntl-sc-block finance-sc-block-html mntl-sc-block-html" id="mntl-sc-block_1-0-23">
<li>Net Income: $41.7 billion</li>
<li>Revenue : $122.2 billion</li>
<li>Market Cap: $195.0 billion</li>
</ul>
<h4 class="comp mntl-sc-block finance-sc-block-heading mntl-sc-block-heading" id="mntl-sc-block_1-0-27">4. China Construction Bank Corp.</h4>
<ul class="comp mntl-sc-block finance-sc-block-html mntl-sc-block-html" id="mntl-sc-block_1-0-28">
<li>Net Income: $35.6 billion</li>
<li>Revenue: $104.3 billion</li>
<li>Market Cap: $173.8 billion</li>
</ul>
<h4 class="comp mntl-sc-block finance-sc-block-heading mntl-sc-block-heading" id="mntl-sc-block_1-0-32">5. Alphabet Inc.</h4>
<ul class="comp mntl-sc-block finance-sc-block-html mntl-sc-block-html" id="mntl-sc-block_1-0-33">
<li>Net Income: $31.5 billion</li>
<li>Revenue: $166.0 billion</li>
<li>Market Cap: $1.1 trillion</li>
</ul>
<h4 class="comp mntl-sc-block finance-sc-block-heading mntl-sc-block-heading" id="mntl-sc-block_1-0-37">6. Agricultural Bank of China Ltd.</h4>
<ul class="comp mntl-sc-block finance-sc-block-html mntl-sc-block-html" id="mntl-sc-block_1-0-38">
<li>Net Income: $28.4 billion</li>
<li>Revenue: $91.5 billion</li>
<li>Market Cap: $112.3 billion</li>
</ul>
<h4 class="comp mntl-sc-block finance-sc-block-heading mntl-sc-block-heading" id="mntl-sc-block_1-0-42">7. JPMorgan Chase &amp; Co.</h4>
<ul class="comp mntl-sc-block finance-sc-block-html mntl-sc-block-html" id="mntl-sc-block_1-0-43">
<li>Net Income: $25.2 billion</li>
<li>Revenue: $118.9 billion</li>
<li>Market Cap: $315.5 billion</li>
</ul>
<h4 class="comp mntl-sc-block finance-sc-block-heading mntl-sc-block-heading" id="mntl-sc-block_1-0-47">8. Alibaba Group Holding Ltd.</h4>
<ul class="comp mntl-sc-block finance-sc-block-html mntl-sc-block-html" id="mntl-sc-block_1-0-48">
<li>Net Income: $24.9 billion</li>
<li>Revenue: $77.9 billion</li>
<li>Market Cap: $761.3 billion</li>
</ul>
<h4 class="comp mntl-sc-block finance-sc-block-heading mntl-sc-block-heading" id="mntl-sc-block_1-0-52">9. Bank Of China Ltd.</h4>
<ul class="comp mntl-sc-block finance-sc-block-html mntl-sc-block-html" id="mntl-sc-block_1-0-53">
<li>Net Income: $24.8 billion</li>
<li>Revenue: $79.3 billion</li>
<li>Market Cap: $94.0 billion</li>
</ul>
<h4 class="comp mntl-sc-block finance-sc-block-heading mntl-sc-block-heading" id="mntl-sc-block_1-0-57">10. Intel Corp.</h4>
<ul class="comp mntl-sc-block finance-sc-block-html mntl-sc-block-html" id="mntl-sc-block_1-0-58">
<li>Net Income: $23.7 billion</li>
<li>Revenue: $79.0 billion</li>
<li>Market Cap: $213.0 billion</li>
</ul>

<ul>
<li class="entry-title"><a href="https://news.pindula.co.zw/2017/02/16/banks-record-181-million-net-profit-2016/">Banks record $181 million net profit in 2016</a></li>
<li>
<a href="https://news.pindula.co.zw/2016/12/20/banks-record-30-increase-profits/">Banks record 30% increase in profits</a>
</li>
<li>
<a href="https://news.pindula.co.zw/2019/07/08/zimbabweans-sold-us8-million-to-banks-since-the-ban-on-forex-rbz/">“Zimbabweans Sold US$8 Million To Banks Since The Ban On Forex,” RBZ</a>
</li>
<li>
<a href="https://news.pindula.co.zw/2021/04/28/cabs-receives-historic-e15m-credit-facility-from-european-investment-bank/">CABS Receives Historic €15M Credit Facility From European Investment Bank</a>
</li>
<li>
<a href="https://news.pindula.co.zw/2021/04/07/stanbic-named-investment-bank-of-the-year-2021/">Stanbic Named Investment Bank Of The Year 2021</a>
</li>
<li>
<a href="https://news.pindula.co.zw/2021/04/19/cresta-expands-into-south-african-market/">Cresta Expands Into South African Market</a>
</li>
<li>
<a href="https://news.pindula.co.zw/2020/12/12/tagwirei-linked-company-buys-bnc-shares-worth-3-billion/">Tagwirei Linked Company Buys BNC Shares Worth $3 Billion</a>
</li>
<li>
<a href="https://news.pindula.co.zw/2020/10/23/victoria-falls-stock-exchange-officially-launched/">Victoria Falls Stock Exchange Officially Launched</a>
</li>
<li>
<a href="https://news.pindula.co.zw/2021/03/15/mthuli-extends-suspension-of-old-mutual-ppc-stock-fungibility-by-12-months/">Mthuli Extends Suspension Of Old Mutual, PPC Stock Fungibility By 12 Months</a>
</li>
</ul>
More: <a href="https://news.pindula.co.zw/">Pindula News; </a><a href="https://www.investopedia.com/the-world-s-10-most-profitable-companies-4694526"> Investopedia</a>

10 Most Profitable Companies in the World – 2020

The <a href="https://www.pindula.co.zw/Reserve_Bank_of_Zimbabwe">Reserve Bank of Zimbabwe</a> has reported that Reserve Money increased mainly due to increases of banks’ liquidity and statutory reserves (minimum amounts of cash and readily marketable securities that insurance companies must hold). We present RBZ’s statement below.
<blockquote>RESERVE MONEY
<ol>
<li>Reserve money increased by ZW$637.41 Million to ZW$22.54 billion, as at week ending 23rd April 2021, largely reflecting increases of ZW$309.98 million in banks’ liquidity (RTGS balances) at the Reserve Bank and ZW$293.85 million in statutory reserves. Currency issued also rose by ZW$33.59 million.</li>
<li>The increase in reserve money was mainly attributed to maturing saving bonds, which injected ZW$3.52 billion into the market, during the week under review.</li>
</ol>
Table 1: Reserve Money Developments (ZW$ Billions)</blockquote>
<table class="table table-bordered table-hover" id="table_1">
<tbody>
<tr>
<td title="Character Accurarcy=0"></td>
<td title="Character Accurarcy=96.13"><a href="https://news.pindula.co.zw/">Aug-20</a></td>
<td title="Character Accurarcy=99.27"><a href="https://news.pindula.co.zw/">Sep-20</a></td>
<td title="Character Accurarcy=99.85"><a href="https://news.pindula.co.zw/">Oct-20</a></td>
<td title="Character Accurarcy=99.02"><a href="https://news.pindula.co.zw/">Nov-20</a></td>
<td title="Character Accurarcy=83.47"><a href="https://news.pindula.co.zw/">Dec-20*</a></td>
<td title="Character Accurarcy=94.39"><a href="https://news.pindula.co.zw/">Week Ending 29 Jan-21</a></td>
<td title="Character Accurarcy=93.98"><a href="https://news.pindula.co.zw/">Week Ending 26 Feb-21</a></td>
<td title="Character Accurarcy=96.59"><a href="https://news.pindula.co.zw/">Week Ending 26 Mar-21</a></td>
<td title="Character Accurarcy=97.7"><a href="https://news.pindula.co.zw/">Week Ending 16 April-21</a></td>
<td title="Character Accurarcy=97.24"><a href="https://news.pindula.co.zw/">Week Ending 23 April-21</a></td>
</tr>
<tr>
<td title="Character Accurarcy=99.92">Currency Issued by RBZ</td>
<td title="Character Accurarcy=99.81">2.06</td>
<td title="Character Accurarcy=99.81">2.14</td>
<td title="Character Accurarcy=99.78">2.12</td>
<td title="Character Accurarcy=99.77">2.13</td>
<td title="Character Accurarcy=99.77">2.38</td>
<td title="Character Accurarcy=99.7">2.81</td>
<td title="Character Accurarcy=99.83">2.95</td>
<td title="Character Accurarcy=99.78">3.15</td>
<td title="Character Accurarcy=99.74">3.15</td>
<td title="Character Accurarcy=99.73">3.19</td>
</tr>
<tr>
<td title="Character Accurarcy=99.89">Banking Sector Deposits at RBZ</td>
<td title="Character Accurarcy=99.86">10.06</td>
<td title="Character Accurarcy=99.9">10.25</td>
<td title="Character Accurarcy=99.91">13.38</td>
<td title="Character Accurarcy=99.88">15.91</td>
<td title="Character Accurarcy=99.87">16.38</td>
<td title="Character Accurarcy=99.85">19.12</td>
<td title="Character Accurarcy=99.85">19.43</td>
<td title="Character Accurarcy=99.93">17.62</td>
<td title="Character Accurarcy=99.92">18.75</td>
<td title="Character Accurarcy=99.91">19.36</td>
</tr>
<tr>
<td title="Character Accurarcy=99.63">Statutory (Required) Reserves</td>
<td title="Character Accurarcy=99.58">1.24</td>
<td title="Character Accurarcy=99.76">1.40</td>
<td title="Character Accurarcy=99.78">1.68</td>
<td title="Character Accurarcy=98.96">2.01</td>
<td title="Character Accurarcy=99.78">2.20</td>
<td title="Character Accurarcy=99.89">2.44</td>
<td title="Character Accurarcy=99.92">4.80</td>
<td title="Character Accurarcy=99.86">5.15</td>
<td title="Character Accurarcy=99.87">5.29</td>
<td title="Character Accurarcy=99.94">5.59</td>
</tr>
<tr>
<td title="Character Accurarcy=94.56">Banks’RTGS Liquidity</td>
<td title="Character Accurarcy=99.63">8.83</td>
<td title="Character Accurarcy=99.65">8.85</td>
<td title="Character Accurarcy=99.86">11.70</td>
<td title="Character Accurarcy=99.77">13.90</td>
<td title="Character Accurarcy=99.86">14.18</td>
<td title="Character Accurarcy=99.9">16.68</td>
<td title="Character Accurarcy=99.8">14.63</td>
<td title="Character Accurarcy=99.82">12.47</td>
<td title="Character Accurarcy=99.83">13.46</td>
<td title="Character Accurarcy=99.9">13.77</td>
</tr>
<tr>
<td title="Character Accurarcy=99.84">Other Deposits</td>
<td title="Character Accurarcy=99.93">0.26</td>
<td title="Character Accurarcy=99.9">0.34</td>
<td title="Character Accurarcy=99.96">0.02</td>
<td title="Character Accurarcy=99.94">0.38</td>
<td title="Character Accurarcy=99.97">0.00</td>
<td title="Character Accurarcy=99.94">0.00</td>
<td title="Character Accurarcy=99.94">0.00</td>
<td title="Character Accurarcy=99.95">0.00</td>
<td title="Character Accurarcy=99.93">0.00</td>
<td title="Character Accurarcy=99.97">0.00</td>
</tr>
<tr>
<td title="Character Accurarcy=98.31">Reserve Money</td>
<td title="Character Accurarcy=99.77">12.38</td>
<td title="Character Accurarcy=99.89">12.73</td>
<td title="Character Accurarcy=99.94">15.52</td>
<td title="Character Accurarcy=99.83">18.42</td>
<td title="Character Accurarcy=99.97">18.76</td>
<td title="Character Accurarcy=99.77">21.93</td>
<td title="Character Accurarcy=99.75">22.38</td>
<td title="Character Accurarcy=99.88">20.77</td>
<td title="Character Accurarcy=99.85">21.90</td>
<td title="Character Accurarcy=99.85">22.54</td>
</tr>
<tr>
<td title="Character Accurarcy=99.88">Memorandum Items</td>
<td title="Character Accurarcy=0"></td>
<td title="Character Accurarcy=0"></td>
<td title="Character Accurarcy=0"></td>
<td title="Character Accurarcy=0"></td>
<td title="Character Accurarcy=0"></td>
<td title="Character Accurarcy=0"></td>
<td title="Character Accurarcy=0"></td>
<td title="Character Accurarcy=0"></td>
<td title="Character Accurarcy=0"></td>
<td title="Character Accurarcy=0"></td>
</tr>
<tr>
<td title="Character Accurarcy=99.12">Currency Issued Reserve Money Ratio (%)</td>
<td title="Character Accurarcy=99.88">16.6</td>
<td title="Character Accurarcy=99.81">16.8</td>
<td title="Character Accurarcy=99.96">13.7</td>
<td title="Character Accurarcy=99.88">11.6</td>
<td title="Character Accurarcy=99.87">12.67</td>
<td title="Character Accurarcy=99.93">12.79</td>
<td title="Character Accurarcy=99.85">13.17</td>
<td title="Character Accurarcy=99.88">15.16</td>
<td title="Character Accurarcy=99.86">14.39</td>
<td title="Character Accurarcy=99.82">14.13</td>
</tr>
<tr>
<td title="Character Accurarcy=94.67">Currency in Circulation Deposits Ratio (%)</td>
<td title="Character Accurarcy=99.95">0.7</td>
<td title="Character Accurarcy=99.97">0.7</td>
<td title="Character Accurarcy=99.97">0.7</td>
<td title="Character Accurarcy=99.98">0.6</td>
<td title="Character Accurarcy=99.69">1.2</td>
<td title="Character Accurarcy=99.73">1.1</td>
<td title="Character Accurarcy=99.82">1.3</td>
<td title="Character Accurarcy=99.89">1.3</td>
<td title="Character Accurarcy=99.81">1.3</td>
<td title="Character Accurarcy=99.63">1.2</td>
</tr>
</tbody>
</table>

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Reserve Bank Of Zimbabwe: Reserve Money Increase

The Monetary Policy Committee (MPC) of the <a href="https://www.pindula.co.zw/Reserve_Bank_of_Zimbabwe">Reserve Bank of Zimbabwe</a> (RBZ) has approved a ZW$500 million facility for Micro, Small and Medium Enterprises (MSMEs). This was revealed in a statement issued by the central bank indicating resolutions of the committee. We present the statement below.
<blockquote>The Monetary Policy Committee (MPC) of the Reserve Bank of Zimbabwe (the Bank) met on 30 April 2021 and deliberated on recent economic and financial developments and their implications on monetary policy.
The Committee noted with <a href="https://news.pindula.co.zw/2019/04/29/rbz-accused-of-undermining-economic-recovery/">great satisfaction the reduction in inflation</a>, which has further fallen from 240.1% in March 2021 to 194% in April 2021. The Committee reaffirmed its commitment to sustaining the disinflationary path to the end of the year and expects year-on-year inflation to go down to below 55% by July 2021.
The MPC also made the following resolutions to support economic activity and the current stability in the economy:
<ul>
<li>a. Maintaining the Bank policy rate at 40% and the interest rate on the Medium Term Accommodation Facility (MBA) at 30% per annum;</li>
<li>b. Approved a facility of ZW$500 million for term finance for Micro, Small and Medium Enterprises (MSMEs) which the MSMEs will access from banks and microfinance institutions at 30% per annum for purposes of enhancing production and productivity across all the sectors of the economy; and</li>
<li>c. Reaffirmed its position to support bureaux de change with foreign exchange requirements to support Micro, Small and Medium Size Enterprises (MSMEs) which need foreign currency for their various productive requirements.</li>
</ul>
The MPC reaffirmed its strong commitment to continue with the conservative monetary policy stance to ensure that the current price stability is maintained.</blockquote>

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<a href="https://news.pindula.co.zw/2021/04/20/full-text-rbz-statement-on-access-to-forex-by-smes-individuals-through-bureaux-de-change/">FULL TEXT: RBZ Statement On Access To Forex By SMEs &amp; Individuals Through Bureaux de Change</a>
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<a href="https://news.pindula.co.zw/2021/03/30/resolutions-of-the-rbz-monetary-policy-committee-meeting-full-statement/">Resolutions Of The RBZ Monetary Policy Committee Meeting {Full Statement}</a>
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FULL TEXT: RBZ Approves ZW$500 Million Facility For MSMEs

The Zimbabwe dollar has marginally lost ground against the US dollar according to results from the <a href="https://www.pindula.co.zw/Reserve_Bank_of_Zimbabwe">Reserve Bank of Zimbabwe (RBZ)</a>’s foreign exchange auction.
Results from the Tuesday, 04 May 2021 <a href="https://www.pindula.co.zw/Foreign_Exchange_Auction_System">RBZ forex auction</a> show that the weighted average fell slightly from US$1: ZWL$84.5032 last week to US$1:ZWL$84.5282 this week.
This week US$4.5 million was allocated to the Small to Medium Enterprises forex auction while US$32.9 million was allocated to the main forex auction.
In total, US$37.4 million was allotted this week, with the bulk of the allotment (US$12.7 million) going to raw materials followed by machinery and equipment (US$7.8 million).
328 bids were received on the Small to Medium enterprises forex auction, with 298 accepted and 30 disqualified.
On the main forex auction, a total of 328 bids were received, 281 were accepted while 47 were disqualified.
<a href="https://www.pindula.co.zw/Reserve_Bank_of_Zimbabwe">The Reserve Bank of Zimbabwe (RBZ)</a> said bids that were disqualified were not eligible in terms of the Priority List.
Bids with overdue CDIs, outstanding Bills of Entry (BOEs), and those with sufficient FCA balances were also disqualified.
Some bids were allotted on a pro-rata basis to conform with the Import Priority List, the RBZ said.
<table class="table table-bordered table-hover" id="table_2">
<tbody>
<tr>
<td title="Character Accurarcy=99.83"><a href="https://news.pindula.co.zw/">PURPOSE</a></td>
<td title="Character Accurarcy=99.84"><a href="https://news.pindula.co.zw/">AMOUNT ALLOTTED SME AUCTION</a></td>
<td title="Character Accurarcy=99.91"><a href="https://news.pindula.co.zw/">AMOUNT ALLOTTED MAIN AUCTION</a></td>
</tr>
<tr>
<td title="Character Accurarcy=99.97"><a href="https://news.pindula.co.zw/">Raw Materials</a></td>
<td title="Character Accurarcy=99.9"><a href="https://news.pindula.co.zw/">1,061,417.15</a></td>
<td title="Character Accurarcy=99.93"><a href="https://news.pindula.co.zw/">11,097,737.19</a></td>
</tr>
<tr>
<td title="Character Accurarcy=99.97"><a href="https://news.pindula.co.zw/">Machinery and Equipment</a></td>
<td title="Character Accurarcy=99.8"><a href="https://news.pindula.co.zw/">1,165,482.55</a></td>
<td title="Character Accurarcy=99.93"><a href="https://news.pindula.co.zw/">6,798,893.55</a></td>
</tr>
<tr>
<td title="Character Accurarcy=99.48"><a href="https://news.pindula.co.zw/">Consumables (Incl. Spares, Tyres, Electricals, etc)</a></td>
<td title="Character Accurarcy=99.83"><a href="https://news.pindula.co.zw/">1,015,479.29</a></td>
<td title="Character Accurarcy=99.79"><a href="https://news.pindula.co.zw/">3,049,059.44</a></td>
</tr>
<tr>
<td title="Character Accurarcy=99.66"><a href="https://news.pindula.co.zw/">Services (Loans, Education, Dividends, Disinvestments, etc)</a></td>
<td title="Character Accurarcy=99.82"><a href="https://news.pindula.co.zw/">312,326.14</a></td>
<td title="Character Accurarcy=99.84"><a href="https://news.pindula.co.zw/">3,609,117.67</a></td>
</tr>
<tr>
<td title="Character Accurarcy=99.66"><a href="https://news.pindula.co.zw/">Retail and Distribution (Incl. Food, Beverages, etc)</a></td>
<td title="Character Accurarcy=99.86"><a href="https://news.pindula.co.zw/">377,506.63</a></td>
<td title="Character Accurarcy=99.79"><a href="https://news.pindula.co.zw/">2,921,182.93</a></td>
</tr>
<tr>
<td title="Character Accurarcy=99.79"><a href="https://news.pindula.co.zw/">Fuel, Electricity and Gas</a></td>
<td title="Character Accurarcy=99.83"><a href="https://news.pindula.co.zw/">124,209.35</a></td>
<td title="Character Accurarcy=99.8"><a href="https://news.pindula.co.zw/">2,020,617.70</a></td>
</tr>
<tr>
<td title="Character Accurarcy=99.68"><a href="https://news.pindula.co.zw/">Pharmaceuticals and Chemicals</a></td>
<td title="Character Accurarcy=99.93"><a href="https://news.pindula.co.zw/">220,705.98</a></td>
<td title="Character Accurarcy=99.79"><a href="https://news.pindula.co.zw/">2,859,485.22</a></td>
</tr>
<tr>
<td title="Character Accurarcy=99.39"><a href="https://news.pindula.co.zw/">Paper and Packaging</a></td>
<td title="Character Accurarcy=95.39"><a href="https://news.pindula.co.zw/">236.276.96</a></td>
<td title="Character Accurarcy=96.38"><a href="https://news.pindula.co.zw/">498.128.32</a></td>
</tr>
</tbody>
</table>
 
<table class="table table-bordered table-hover" id="table_2">
<tbody>
<tr>
<td title="Character Accurarcy=99.83"><a href="https://news.pindula.co.zw/">Total                                                                                     </a></td>
<td title="Character Accurarcy=99.84"><a href="https://news.pindula.co.zw/">4 513 404.05                                       </a></td>
<td title="Character Accurarcy=99.91"><a href="https://news.pindula.co.zw/">32 854 222.02                                       </a></td>
</tr>
<tr>
<td title="Character Accurarcy=99.97"><a href="https://news.pindula.co.zw/">GRAND TOTAL AWARDED</a></td>
<td title="Character Accurarcy=99.9"></td>
<td title="Character Accurarcy=99.93"><a href="https://news.pindula.co.zw/">37 367 626.07</a></td>
</tr>
<tr>
<td title="Character Accurarcy=99.97"></td>
<td title="Character Accurarcy=99.8"></td>
<td title="Character Accurarcy=99.93"></td>
</tr>
</tbody>
</table>
<img alt="Image" decoding="async" src="https://pbs.twimg.com/media/E0jEp56XoAg0s17?format=jpg&amp;name=medium"/>

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RBZ Forex Auction: Zimbabwe Dollar Drops Against USD

FBC Bank (LTD) is in the eye of a bribery storm, following revelations that the bank attempted to give an inducement to a High Court judge to influence the ruling of a matter in which they were facing a lawsuit from a client.
ZimMorningpPost reports that the bank appeared in court on March 30 2021, and an emissary tried to bribe <a href="https://www.pindula.co.zw/Esther_Muremba">Justice Esther Muremba</a> with a gift bag whose contents could not be immediately ascertained. A source to the publication said:
<blockquote>_Apparently FBC sent the judge a gift back on March 29, a day before she was set to hand down judgement on the matter in which FBC was dragged in._
_She said she was prepared to hand down judgment in Motion Court before she then received the gift bag._
_She walked in court and asked Mr Muchada who represented FBC to explain this ‘gesture.’_
_Muchada sought instructions from his client (FBC) and was told that it was an annual gift they give to all judges as Christmas gifts, Muremba fumed and asked them to take their gift back immediately and she also questioned the logic of receiving a Christmas gift in March._</blockquote>
ZimMorningPost further reports that enquiries at the Judicial Services Commission (JSC) established that Muremba was the only judge out of 30 High Court judges that received the Christmas ‘gift’ in March.
Reports suggest that a Harare lawyer Nigel Sithole filed an urgent chamber application to have his three digital platforms (Mobile Moola, USSD *220# and Noku) with FBC suspended after a stranger manipulated one of the platforms using his name and went on to dupe people in a rent to buy car scheme.
Sithole confirmed the FBC Bank bribery incident and praised Justice Muremba for upholding ethics and transparency. He added:
<blockquote>_I was quite perturbed by the conduct of the bank and wonder what it is exactly was meant to be achieved by handing over this gift. Institutionally, this raises a lot of questions about the types of decisions made at the management level of FBC._ </blockquote>
FBC Holdings group chief executive John Mushayavanhu said he was not competent to comment on matters dealt with at court adding that the matter was concluded.
In 2017, there were allegations that FBC Holdings (FBCH) was also sucked in another fraud storm involving a disputed US$3.4 million.
More: <a href="https://news.pindula.co.zw/">Pindula News;</a> <a href="https://zimmorningpost.com/fbc-bank-in-bribery-storm-high-court-judge-turns-down-offer/">ZimMorningPost</a>

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