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

Finance Officer: Volunteer (Harare)

Project Assistants (Masvingo district x1 and Gweru district x1)

Programme Officers – Women and Girls’ Health Rights (Masvingo district x1 and Gweru district x1)

Project Drivers x2 (Gweru, Masvingo)

Business Intelligence Analyst (Harare)

Contact Centre Agent-1 (Harare)

Switchboard Operator (OMAO) (Harare)

Senior ICT Auditor: Banking (Harare)

Business Auditor (Harare)

Trainee Investment Analyst (Harare)

Senior Accounts Administrator (Harare)

Business Development & Sales Consultant (Harare)

Procurement Manager (Bulawayo)

Internal Sales and Marketing Representative (Harare)

Auditor - ICT & Internal Control (Harare)

Legal Officer (Harare)

Freelance Sales/ Marketing Representatives [Kadoma x2, Kwekwe x2, Gweru x2, Chegutu x1 & Zvishavane x1]

Freelance Sales/ Marketing Representatives [Bulawayo x2, Hwange x1, Lupane x1, Gwanda x1, Vicfalls x1 & Beitbridge 1x]

Freelance Sales/ Marketing Representatives [Marondera x1, Murehwa x1, Mutoko x1, Bindura x1, Shamva x1 & Mvurwi x1]

Freelance Sales/ Marketing Representatives [Chinhoyi x2, Banket x1, Kariba x1, Karoi x1& Chirundu x1]

Freelance Sales/ Marketing Representatives [Harare x2, Chitungwiza x1, Norton x1, & Ruwa x1]

Auditor (Harare)

Graduate Draughtsman (Chipinge)

Director General (Harare)

Class One Journeyman Mechanic (Ruwa)

Business Development Officer (Harare)

Business Development Specialis

Horticulture Technician

Geographic Information Systems Technician Intern

Survey Technician Intern

Carpenter (Grade: 11)

Trainee Aviation Security Officers x35

Geography: Relief teacher Up to “A” Level (3 months)

Teaching Vacancies

<p>The Zimbabwe Dollar this week marginally gained and closed the official forex auction stronger as it traded a few cents lower than last week’s official rate of ZWL$81.49 per $1.</p>
<p>According to this week’s auction, the Zimbabwe dollar will trade at ZWL$81.4439 per US$1.</p>
<p>This was contained in the communique from the RBZ about the bank’s auction results after today’s auction.</p>
<p>129 Bids were received for SMEs while 233 bids were received for the main auction.</p>
<p>All the US$1 441 116 and the US$23 067 310, in that order, that had been allotted for SMEs and the main aution were accepted.</p>


Pindula News

FOREX AUCTION: Zim Dollar Official Rate 29 September 2020

<p>Some illegal money changers say their business has been frustrated by the banning of mobile money agent lines and the introduction of daily transaction limits by monetary authorities.</p>
<p>The Reserve Bank of Zimbabwe (RBZ) recently banned mobile money agent lines as well and set $5 000 as the cap for daily transactions for individuals.</p>
<p>A money changer in Bulawayo said authorities are closing all avenues for them, making their business a lot harder. He said:</p>
<blockquote><p>Since the lockdown began in March our job has become difficult as authorities are closing all avenues for us.</p>
<p>Now, this latest ban on agent lines and the cap in daily mobile transactions has totally frustrated our business.</p></blockquote>
<p>Another money changer said she has since quit the trade and opted for other income-generating avenues. She said:</p>
<blockquote><p>Running battles with police is not a nice thing, worse as a woman. I have since quit ukuphathelisa (money changing) and opted for vending where I now sell products at home. I am not going to town anymore.</p></blockquote>
<p>However, other money changers vowed to remain fighting for their space, claiming that business was still there.</p>
<h4><strong>More: <a href="https://www.chronicle.co.zw/going-gets-tough-for-illegal-money-changers/">Chronicle</a></strong></h4>


Illegal Forex Dealers In Tight Spot

<p>The Reserve Bank of Zimbabwe (RBZ) says it has noted a picture circulating on social media showing a person holding bundles of ZW$10 notes which were released into circulation on Tuesday this week.</p>
<p>In a statement, the Central Bank said it has established that, based on the serial numbers on the notes, the $10 bills were paid out to a customer by First Capital Bank.</p>
<p>Here is the statement in full:</p>
<blockquote><p><strong>PICTURE CIRCULATING ON SOCIAL MEDIA SHOWING BUNDLES OF NEW ZW$10 NOTES</strong></p>
<p>The Reserve Bank of Zimbabwe (the Bank) has noted a picture circulating on social media showing a person holding bundles of ZW$10 notes, which banks started paying out to customers from the 19th of May, 2020.</p>
<p>After comparing the serial numbers shown in the social media picture against our cash disbursement records, we established that at least some of the cash shown in the picture was part of cash disbursed by the Bank to First Capital Bank Limited (First Capital Bank). First Capital Bank then paid out this cash to a customer.</p>
<p>Investigations have established that, in paying out the cash to its customers, First Capital Bank adhered to the ZW$1000 limit per customer.</p>
<p>It is, therefore, likely that the person shown in the picture holding the cash bundles, may have received the cash from different people, either as an illegal money changer or in the course of business.</p></blockquote>


RBZ Issues Statement On Picture Of 'Money Changer' Holding Bundles Of $10 Notes

<p>The <a href="https://www.pindula.co.zw/Zimbabwe_Anti-Corruption_Commission" rel="noopener noreferrer" target="_blank">Zimbabwe Anti-Corruption Commission (ZACC)</a>, working with the Zimbabwe Republic Police, has advised tenants to report landlords who are demanding rentals in foreign currency.</p>
<p>ZACC spokesperson John Makamure said the Commission was working with police to ensure the implementation of Statutory Instrument 213 of 2019 which criminalises the charging in forex without the central bank’s approval. He said:</p>
<blockquote><p>What is happening is that we are working with the police in monitoring this therefore we encourage members of the public to either approach our officials or their nearest police station.</p>
<p>As you might know, Zacc and the police are more of one entity in fighting such corrupt elements, worse still when there is a specific law that criminalises such acts.</p></blockquote>
<p><a href="https://www.pindula.co.zw/Affirmative_Action_Group" rel="noopener noreferrer" target="_blank">Affirmative Action Group</a> Matabeleland Chapter president Reginald Shoko said landlords demanding rentals in forex are involved in money-laundering. Said Shoko:</p>
<blockquote><p>We know that some people now think it is normal to demand rentals in forex but what monthly repairs do they do to their properties that require foreign currency, they don’t pay rentals in forex, neither do they remit taxes in forex. Clearly these people are contributing to the country’s economic meltdown because what they are doing is tantamount to money laundering.</p></blockquote>
<p>This follows reports that landlords in Bulawayo’s high-density suburbs are charging 100 Rand for a room while some charge US$50 for a five-roomed house.</p>
<p>In Senga, Gweru, students from the <a href="https://www.pindula.co.zw/Midlands_State_University" rel="noopener noreferrer" target="_blank">Midlands State University (MSU)</a> are asked to pay US$50 per head while in Gwanda landlords prefer to charge in Rand and houses are pegged between R200 and R2 000 per month.</p>
<h4><strong>More: <a href="https://www.sundaynews.co.zw/zacc-stalks-forex-landlords/" rel="noopener noreferrer" target="_blank">Sunday News</a></strong></h4>


ZACC, ZRP Urges Tenants To Report Landlords Charging Rentals In Forex

<p>Reserve Bank of Zimbabwe (RBZ) Governor <a href="https://www.pindula.co.zw/John_Mangudya" rel="noopener noreferrer" target="_blank">John Mangudya</a> said the Central Bank has given the <a href="https://www.pindula.co.zw/Zimbabwe_Energy_Regulatory_Authority" rel="noopener noreferrer" target="_blank">Zimbabwe Energy Regulatory Authority (ZERA)</a> approval to register fuel service stations with free funds for direct imports to be sold in foreign currency.</p>
<p>Mangudya said like passports, people who have free funds will be able to buy fuel using foreign currency. Said Mangudya:</p>
<blockquote><p>We are now waiting for ZERA to ensure that they register or designate those service stations that will be selling in foreign currency so that there will be efficiency in terms of transparency, monitoring and books.</p>
<p>The oil marketing companies are going to apply to ZERA so that they will be registered to sell to people with free funds. Just like the passports, if you have the money (US dollars) you can pay to get your passport.</p></blockquote>
<p>Mangudya’s remarks follow a recent announcement made by <a href="https://www.pindula.co.zw/Zuva_Petroleum" rel="noopener noreferrer" target="_blank">Zuva Petroleum</a> that it will be accepting foreign currency for fuel payments at eight of the firm’s service stations across the country.</p>
<p>There are four such service stations in Harare, and one each in Bulawayo, Mutare, Gweru and Victoria Falls.</p>
<h4><strong>More: <a href="https://www.ebusinessweekly.co.zw/fuel-dealers-to-sell-in-forex/" rel="noopener noreferrer" target="_blank">Business Weekly</a></strong></h4>


RBZ Okays Selling Of Fuel In Forex

<p>Former Finance Minister <a href="https://www.pindula.co.zw/Tendai_Biti" rel="noopener noreferrer" target="_blank"><strong>Tendai Biti</strong></a> has denounced the recently-gazetted Statutory Instrument 249 of 2019 which obliges exporters to pay for electricity in US Dollars.</p>
<p>Writing on Twitter, Biti said the move is a clear sign that de-dollarisation will simply not work. He said:</p>
<blockquote><p>The regime has just gazetted SI 249 of 2019 which obliges exporters to pay for electricity in US$. This is further proof that de-dollarisation is not working and will not work.</p>
<p>Quite clearly the instrument is null and void. The RBZ does not have the powers of currency selectivity.</p>
<p>The regime’s penchant for rule by regulation is dangerous and authoritarian. Only autocratic regimes bypass Parliament and rule by decree.</p>
<p>The country is being run by clueless louts on the basis of ill-thought kick and hope policies and policy reversals have become the order of the day.</p></blockquote>
<p>The statutory instrument orders exporters to pay the Zimbabwe Electricity Supply Authority (ZESA) in forex for the next 6 months, with all forex payments having to be made from <a href="https://www.pindula.co.zw/Nostro_Account" rel="noopener noreferrer" target="_blank"><strong>Nostro accounts</strong></a> to bar the use of black-market funds.</p>


Biti Comments On RBZ's  Instruction To Exporters To Pay ZESA In Forex

<p>Some retailers in Harare are reportedly still asking for and accepting payment for goods in USD dollars despite the government’s recent ban on the use of forex in transacting.  NewZimbabwe reports that it did a snap survey in Harare by posing as customers to retailers in the city.</p>
<p><a href="https://www.newzimbabwe.com/retailers-defy-govt-directive-continue-selling-products-in-us/">Reads the report:</a></p>
<blockquote><p>At one supermarket along Chinhoyi Street where NewZimbabwe.com journalists posed as ordinary customers, grocery items such as cooking oil were exorbitantly priced in local currency but the shop attendant offered to accept US$ payments.</p>
<p>Quizzed on why they were asking for a currency that has been outlawed, one of the attendants said the US dollar was what they were using to acquire from outside, some of the goods they were selling.</p>
<p>“We need the US$ because we import groceries from South Africa and other neighbouring countries using foreign currency. So before accepting US dollars, we first vet all customers and if we suspect that they are police officers or government officials, we then decline the US$ payments.”</p></blockquote>
<p><strong>More: <a href="https://www.newzimbabwe.com/retailers-defy-govt-directive-continue-selling-products-in-us/">NewZimbabwe</a></strong></p>


Some Retailers Still Accepting US Dollars Despite Multi-Currency Ban

<p>The reserve bank has released a statement following the <a href="https://news.pindula.co.zw/2019/06/24/breaking-rbz-si-142-bans-use-of-all-foreign-currencies-with-effect-from-24-june-2019/">ban of the multi-currency regime in Zimbabwe</a>. We post it below in full:</p>
<blockquote><p>PRESS STATEMENT ON STRENGTHENING THE INTERBANK FOREIGN EXCHANGE MARKET</p>
<p>Further to the Statutory Instrument 142 of 2019 issued by the Hon Minister of Finance and Economic Development, Prof Mthuli Ncube, on the removal of the multi-currency system in Zimbabwe and replacing it with a local unit of account (RTGS$/ZWL$) for transacting purposes, the Reserve Bank of Zimbabwe wished to announce that it will implement the following support measures to buttress and strengthen the local unit of account:</p>
<p>a) Direct banks to transfer to the Reserve Bank the RTGS$/ZWL$ that they are holding as counterpart funds for the foreign currency historical or legacy debt that Government, through the Reserve Bank, is assuming at the rate of 1:1 between the RTGS$ and the US$. This measure is expected to mop around ZLW$1.2 billion from the market by the end of this week.</p>
<p>b) Adjust the interest rate on the Reserve Bank overnight window upwards from the current 15% per annum to 50% per annum in line with the inflation trends.</p>
<p>c) Remove administrative limits on the operation of bureaux de change and on the cap on margins for banks for the interbank foreign exchange transactions.</p>
<p>d) Put a vesting period of 90 days on disposal of dual securities or shares purchased by investors on the Zimbabwe Stock Exchange.</p>
<p>e) increase supply of foreign currency into interbank foreign market by ensuring that a least 50% of the surrender portion of foreign currency is sold to the interbank market. This will be supplemented by the use of Letters of Credit (LCs) for the importation of essential commodities that include fuel, cooking oil, and wheat. The Bank has put in place LCs amounting to US$330 million for this purpose.</p>
<p> </p>
<p>J P Mangudya<br/>
Governor</p></blockquote>
<p> </p>
<p><a href="https://t792ae.c2.acecdn.net/wp-content/uploads/2019/06/rbzWhatsApp-Image-2019-06-24-at-18.35.14.jpeg"><img alt="" class="aligncenter size-full wp-image-105426" decoding="async" height="714" loading="lazy" sizes="(max-width: 504px) 100vw, 504px" src="https://t792ae.c2.acecdn.net/wp-content/uploads/2019/06/rbzWhatsApp-Image-2019-06-24-at-18.35.14.jpeg" srcset="https://news.pindula.co.zw/wp-content/uploads/2019/06/rbzWhatsApp-Image-2019-06-24-at-18.35.14.jpeg 504w, https://news.pindula.co.zw/wp-content/uploads/2019/06/rbzWhatsApp-Image-2019-06-24-at-18.35.14-212x300.jpeg 212w" width="504"/></a></p>


FULL TEXT: RBZ Press Statement On RTGS$ & Interest Rates Following Band Of Multi-Currency

<p>A son to Information minister Monica Mutsvangwa and former adviser to the President, Christopher Mutsvangwa is alleged to be running an illegal currency dealership involving hundreds of thousands of United States dollars.</p>
<p>Neville Mutsvangwa reportedly lost US$200 000 which was confiscated by police officers.</p>
<p>The officers allegedly robbed a money changer in the avenues area US$11 000 despite receiving a US$3 000 bribe to release US$200 000 they had confiscated earlier.</p>
<p>It turned out that the money belonged to Mutsvangwa and his associates.</p>
<p>Midlands senator Lillian Timveous (MDC Alliance) demanded that Finance Minister Mthuli Ncube explain what the government was doing to stop the illegal activities. She said:</p>
<blockquote><p>We have been following the news and Mutsvangwa’s son was caught with over US$200 000, (in a case where) he is allegedly dealing in illegal foreign currency business.</p>
<p>When the police apprehended him, he was found with US$200 000 and what is the Minister of Finance going to do to stop such illegal activities?</p></blockquote>
<p>In his response, Ncube said that he could not comment over an issue that is before the police. Said Ncube:</p>
<blockquote><p>The issue is before the police, which really means they are dealing with it. In a sense, the Minister of Finance has no role because the law enforcement agents have already started their process and they are dealing with the matter.</p>
<p>Obviously, we will also watch the space to see how that is concluded. The police are doing their job.</p></blockquote>
<p>Meanwhile, the five police officers involved in the raid have since been arrested and appeared before a Harare magistrate.</p>
<p>They are currently out on $100 bail each.</p>
<h4><strong>More: <a href="https://www.newsday.co.zw/2019/06/mutsvangwas-son-in-illegal-forex-deals-storm/" rel="noopener noreferrer" target="_blank">Newsday</a></strong></h4>


Mutsvangwa's Son In Ilegal Foreign Currency Deals

<p>Harare City Council and the Reserve Bank of Zimbabwe (RBZ) have been involved in a verbal spat over the allocation of scarce foreign currency.</p>
<p>The City requires US$3 million every month for the importation of critical raw materials.</p>
<p>On Tuesday, the RBZ released US$150 000 for Harare City Council, an allocation which the local authority says is inadequate. Harare town clerk Hosiah Chisango had this to say:</p>
<blockquote><p>Our monthly requirement is up to US$3 million, depending on our production levels. That’s our monthly requirement.</p>
<p>We have been getting that until about two to three months ago; so for the past three months, we did not receive the allocation.</p>
<p>And the allocation is such that the council should pay for that forex component, by providing the equivalence in RTGS$ so it is not like the RBZ is giving us but they are providing for forex on our RTGS account.</p></blockquote>
<p>Chisango said that there is no money on the interbank market. The facility was introduced in February.</p>
<p>However, RBZ governor John Mangudya has denied Chisango’s claims. Said Mangudya:</p>
<blockquote><p>What Chisango is saying is not true at all. l am in touch with the mayor and the town clerk Hosiah Chisango. He even phoned me yesterday himself.</p>
<p>I spoke with them and what they wanted, for now, was US$150 000 for chlorine which they were given on Tuesday at their request. They also said they have some chemicals still available.</p></blockquote>
<p>Harare City Council requires a cocktail of chemicals to purify the highly polluted water from the “giant sewer”, Lake Chivero.</p>
<p>The chemicals needed include activated carbon for removing odours, aluminium sulphate, sodium lime for pH regulation, sulphuric acid, calcium hypochlorite for removing algae and ammonia for chlorine retention and chlorine gas which is needed to kill bacteria.</p>
<h4><strong>Related:</strong></h4>
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<h4><strong><a href="https://news.pindula.co.zw/2019/04/24/city-of-harare-receives-chlorine-gas-for-water-treatment/" rel="noopener noreferrer" target="_blank">City Of Harare Receives Chlorine Gas For Water Treatment</a></strong></h4>
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<h4><strong><a href="https://news.pindula.co.zw/2019/04/20/forex-shortage-affecting-water-supply-harare-city-council/" rel="noopener noreferrer" target="_blank">Forex Shortage Affecting Water Supply – Harare City Council</a></strong></h4>
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<h4><strong><a href="https://news.pindula.co.zw/2019/04/11/bulawayo-councilors-block-proposal-to-resume-water-disconnections/" rel="bookmark">Bulawayo Councilors Block Proposal To Resume Water Disconnections</a></strong></h4>
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<h4><strong><a href="https://news.pindula.co.zw/2019/04/10/89782/" rel="bookmark">Power Line To Gweru Waterworks Vandalised By Suspected Thieves</a></strong></h4>
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<h4><strong><a href="https://news.pindula.co.zw/2019/03/31/harare-city-has-18-months-water-supply-but-no-treatment-chemicals/" rel="bookmark">Harare City Has 18 Months’ Water Supply, But No Treatment Chemicals</a></strong></h4>
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<h4><strong>More: <a href="https://www.theindependent.co.zw/2019/04/26/harare-rbz-in-forex-tussle/" rel="noopener noreferrer" target="_blank"><em>The Independent</em></a></strong></h4>


RBZ, Harare City Council In Verbal Spat Over Forex Allocation

<p>An audio recording of a meeting held by Nedbank Zimbabwe bank tellers accused of fraud, has revealed that the bank is actually missing up to US $5 million to an apparent forex scam.</p>
<p>The bank tellers are accused of defrauding the bank of US $1.1 million. This figure, however, the tellers said in the recording, is just a fraction of hard currency that has gone missing at the bank. The tellers indicate that management is aware of the missing $5 million and have been looking for it.</p>
<p>The bank tellers, who feel that management is actively making them take the fall for the forex scam, claim that senior leaders at the bank turned a blind eye to forex arbitrage problem emanating from the 1:1 RBZ fixed rate. They also accuse management of actively participating in defrauding the bank by withdrawing, approving withdrawals and approving foreign payments of US dollars against Bond Note account balances without clear approval from the RBZ.</p>
<p>Said one teller:</p>
<blockquote><p>The bank has decided to just to turn back on all those issues and then embarrass us in the manner in which they embarrassed us, and try to oil the state machinery and state agencies. And this efficiency in providing transport and everything that is needed at every turn to make sure that we are arrested and displayed to everyone who cares to listen that we have swindled the bank USD $1.1 million. Yet they are looking for USD $5 million that up to now we are yet to know who took. Who took the balance because at least now they can tell us that the $1.1 million was taken by tellers.</p>
<p>And we want to know what kind of coordination we had as a team. Those that are in Gweru, Bulawayo, Harare. We all did that?</p></blockquote>
<p>The tellers are part of a group of 28 tellers from a number of the bank’s branches country-wide who were arrested on 5 and 6 April on charges of defrauding the bank.</p>
<p>You can listen to the <a href="https://news.pindula.co.zw/2019/04/09/leaked-audio-nedbank-zimbabwe-tellers-management-forex-scam/">full recording here</a>.</p>
<p>It has been reported that the forex scam may be industry-wide, with other banks in the country likely having similar problems.</p>
<h3><strong>Related</strong></h3>
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<h4><strong><a href="https://news.pindula.co.zw/2019/04/09/nedbank-zimbabwe-bank-tellers-implicate-management-forex-scam/">EXCLUSIVE: Nedbank Zimbabwe Bank Tellers Implicate Management In Forex Scam</a></strong></h4>
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<h4><strong><a href="https://news.pindula.co.zw/2019/04/07/nedbank-zimbabwe-speaks-on-arrest-of-tellers-in-forex-scam/" rel="bookmark">Nedbank Zimbabwe Speaks On Arrest Of Tellers In Forex Scam</a></strong></h4>
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<h4><strong><a href="https://news.pindula.co.zw/2019/04/07/nedbank-tellers-accused-of-stealing-usd-1-1-million-from-customer-accounts/" rel="bookmark">Nedbank Tellers Accused Of Stealing USD $1.1 Million From Customer Accounts</a></strong></h4>
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<h4><strong><a href="https://news.pindula.co.zw/2019/04/06/breaking-28-nedbank-tellers-arrested-taken-to-court/" rel="bookmark">BREAKING: 28 Nedbank Tellers Arrested. Taken To Court (UPDATED)</a></strong></h4>
</li>
</ul>
<p> </p>


BREAKING: Nedbank Zimbabwe Defrauded Of US $5 Million, Bank Tellers Claim

<div class="jetpack-video-wrapper"><iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="360" loading="lazy" src="https://www.youtube.com/embed/oFnF_1xL6z8?feature=oembed" title="Nedbank Zimbabwe Tellers Blame Management For Forex Scam" width="640"></iframe></div>
<p>An audio recording of a meeting held by bank tellers at Nedbank Zimbabwe we are arrested and are accused of defrauding the bank of US $1.1million.</p>
<h3><strong>Related</strong></h3>
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<h4><strong><a href="https://news.pindula.co.zw/2019/04/09/nedbank-zimbabwe-bank-tellers-implicate-management-forex-scam/">EXCLUSIVE: Nedbank Zimbabwe Bank Tellers Implicate Management In Forex Scam</a></strong></h4>
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<h4><strong><a href="https://news.pindula.co.zw/2019/04/07/nedbank-zimbabwe-speaks-on-arrest-of-tellers-in-forex-scam/" rel="bookmark">Nedbank Zimbabwe Speaks On Arrest Of Tellers In Forex Scam</a></strong></h4>
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<h4><strong><a href="https://news.pindula.co.zw/2019/04/07/nedbank-tellers-accused-of-stealing-usd-1-1-million-from-customer-accounts/" rel="bookmark">Nedbank Tellers Accused Of Stealing USD $1.1 Million From Customer Accounts</a></strong></h4>
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<h4><strong><a href="https://news.pindula.co.zw/2019/04/06/breaking-28-nedbank-tellers-arrested-taken-to-court/" rel="bookmark">BREAKING: 28 Nedbank Tellers Arrested. Taken To Court (UPDATED)</a></strong></h4>
</li>
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<p> </p>


LISTEN: Leaked Audio Of Nedbank Zim Tellers Implicating Management In Forex Scam


<p>An audio recording of a meeting held by bank tellers at Nedbank Zimbabwe we are arrested and are accused of defrauding the bank of US $1.1million.</p>
<h3><strong>Related</strong></h3>
<ul>
<li>
<h4><strong><a href="https://zero.pindula.co.zw/nedbank-zimbabwe-bank-tellers-implicate-management-forex-scam/">EXCLUSIVE: Nedbank Zimbabwe Bank Tellers Implicate Management In Forex Scam</a></strong></h4>
</li>
<li>
<h4><strong><a href="https://zero.pindula.co.zw/nedbank-zimbabwe-speaks-on-arrest-of-tellers-in-forex-scam/" rel="bookmark">Nedbank Zimbabwe Speaks On Arrest Of Tellers In Forex Scam</a></strong></h4>
</li>
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<h4><strong><a href="https://zero.pindula.co.zw/nedbank-tellers-accused-of-stealing-usd-1-1-million-from-customer-accounts/" rel="bookmark">Nedbank Tellers Accused Of Stealing USD $1.1 Million From Customer Accounts</a></strong></h4>
</li>
<li>
<h4><strong><a href="https://zero.pindula.co.zw/breaking-28-nedbank-tellers-arrested-taken-to-court/" rel="bookmark">BREAKING: 28 Nedbank Tellers Arrested. Taken To Court (UPDATED)</a></strong></h4>
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</ul>


<p>Olivine Industries says it is still struggling to access foreign currency despite the introduction of the interbank market.</p>
<p>Olivine Industries acting chief executive officer Sylvester Mangani had this to say:</p>
<blockquote><p>Olivine is finding it difficult to access foreign currency as the trade on the interbank market is negligible.</p>
<p>Olivine manufactures basic household products like margarine, cooking oil, baked beans and laundry soap and toilet soap. These products are sold on the local market in local currency, but all these products have an import component.</p>
<p>The current unavailability of our products in the market is a reflection of unavailability of foreign currency as we have sufficient capacity for the local market. Currency has been an issue for the last eight months since August last year.</p></blockquote>
<p>Olivine Industries used to dominate the local market with arguably its cooking oil being the biggest of all its brands.</p>
<p>Due to the scarcity of foreign currency in recent year, Olivine Industries relying on letters of credit to import raw materials to a point where the foreign suppliers have started demanding upfront payments.</p>
<h4><strong>More: <a href="https://www.newsday.co.zw/2019/03/interbank-market-fails-to-rescue-olivine/">Newsday</a></strong></h4>


Olivine Struggling To Access Forex On The Interbank Market

<p>ZOL Zimbabwe announced today that it now has optional USD pricing for its internet packages. The prices, based on ZOL historical pricing, are the ones that were in effect in 2017 about a year after the introduction of the Bond Notes.</p>
<p>ZOL customers still have the option to buy in RTGS$ but that price has been increased to reflect the current exchange rate of the RTGS$ against the US Dollar. The company says it has used the rate – 1USD: 2.5 RTGS$</p>
<p>Here’s a table with the new USD pricing and RTGS$ pricing:</p>
<h2>New ZOL Subscription (1 April 2019)</h2>
<table aria-labelledby="tablepress-41-name">
<thead>
<tr>
<th>Package Name</th><th>Base US$</th><th>RTGS$</th>
</tr>
</thead>
<tbody>
<tr>
<td>Fibroniks Lite</td><td>$29.00</td><td>$72.50</td>
</tr>
<tr>
<td>Fibroniks Lite + Night Owl</td><td>$35.00</td><td>$87.50</td>
</tr>
<tr>
<td>Fibroniks Basic Essentials</td><td>$39.00</td><td>$97.50</td>
</tr>
<tr>
<td>Fibroniks Basic + Night Owl</td><td>$47.00</td><td>$117.50</td>
</tr>
<tr>
<td>Fibroniks Family Essentials</td><td>$89.00</td><td>$222.50</td>
</tr>
<tr>
<td>Fibroniks Family Essentials + Night Owl</td><td>$105.00</td><td>$262.50</td>
</tr>
<tr>
<td>Fibroniks Family Entertainment</td><td>$149.00</td><td>$372.50</td>
</tr>
<tr>
<td>Fibroniks Modern Family</td><td>$199.00</td><td>$497.50</td>
</tr>
<tr>
<td>Fibroniks Turbo Pack</td><td>$339.00</td><td>$847.50</td>
</tr>
<tr>
<td>Fibroniks ZOOM</td><td>$19.00</td><td>$47.50</td>
</tr>
<tr>
<td>Wibroniks Unlimited</td><td>$72.00</td><td>$179.00</td>
</tr>
</tbody>
</table>

<h2>ZOL New Top Up Prices (Effective 1 April 2019)</h2>
<table aria-labelledby="tablepress-40-name">
<thead>
<tr>
<th>Top-up Name</th><th>Base US$</th><th>RTGS$</th>
</tr>
</thead>
<tbody>
<tr>
<td>Fibroniks 1GB</td><td>$3.00</td><td>$7.50</td>
</tr>
<tr>
<td>Fibroniks 2GB</td><td>$5.00</td><td>$12.50</td>
</tr>
<tr>
<td>Fibroniks 5GB</td><td>$10.00</td><td>$25.00</td>
</tr>
<tr>
<td>Fibroniks 10GB</td><td>$19.00</td><td>$48</td>
</tr>
<tr>
<td>Fibroniks 25GB</td><td>$40.00</td><td>$100</td>
</tr>
<tr>
<td>WiBroniks 5GB</td><td>$6.00</td><td>$15</td>
</tr>
<tr>
<td>WiBroniks 10GB</td><td>$12.00</td><td>$29</td>
</tr>
<tr>
<td>WiBroniks 25GB</td><td>$20.00</td><td>$49</td>
</tr>
<tr>
<td>WiBroniks 35GB</td><td>$23.00</td><td>$57</td>
</tr>
<tr>
<td>WiBroniks 50GB</td><td>$36.00</td><td>$89.00</td>
</tr>
</tbody>
</table>

<h3>Related:</h3>
<ul>
<li>
<h4><strong><a href="https://zero.pindula.co.zw/zol-increases-rtgs-internet-prices/" rel="bookmark">ZOL Increases RTGS$ Internet Prices</a></strong></h4>
</li>
</ul>
<p><em><strong>More: <a href="https://www.zol.co.zw/price-alignment">ZOL Website</a></strong></em></p>

ZOL Introduces USD Pricing

<p>ZOL Zimbabwe announced today that it now has optional USD pricing for its internet packages. The prices, based on ZOL historical pricing, are the ones that were in effect in 2017 about a year after the introduction of the Bond Notes.</p>
<p>ZOL customers still have the option to buy in RTGS$ but that price has been increased to reflect the current exchange rate of the RTGS$ against the US Dollar. The company says it has used the rate – 1USD: 2.5 RTGS$</p>
<p>Here’s a table with the new USD pricing and RTGS$ pricing:</p>
<h2 class="tablepress-table-name tablepress-table-name-id-41" id="tablepress-41-name">New ZOL Subscription (1 April 2019)</h2>
<table aria-labelledby="tablepress-41-name" class="tablepress tablepress-id-41" id="tablepress-41">
<thead>
<tr class="row-1">
<th class="column-1">Package Name</th><th class="column-2">Base US$</th><th class="column-3">RTGS$</th>
</tr>
</thead>
<tbody>
<tr class="row-2">
<td class="column-1">Fibroniks Lite</td><td class="column-2">$29.00</td><td class="column-3">$72.50</td>
</tr>
<tr class="row-3">
<td class="column-1">Fibroniks Lite + Night Owl</td><td class="column-2">$35.00</td><td class="column-3">$87.50</td>
</tr>
<tr class="row-4">
<td class="column-1">Fibroniks Basic Essentials</td><td class="column-2">$39.00</td><td class="column-3">$97.50</td>
</tr>
<tr class="row-5">
<td class="column-1">Fibroniks Basic + Night Owl</td><td class="column-2">$47.00</td><td class="column-3">$117.50</td>
</tr>
<tr class="row-6">
<td class="column-1">Fibroniks Family Essentials</td><td class="column-2">$89.00</td><td class="column-3">$222.50</td>
</tr>
<tr class="row-7">
<td class="column-1">Fibroniks Family Essentials + Night Owl</td><td class="column-2">$105.00</td><td class="column-3">$262.50</td>
</tr>
<tr class="row-8">
<td class="column-1">Fibroniks Family Entertainment</td><td class="column-2">$149.00</td><td class="column-3">$372.50</td>
</tr>
<tr class="row-9">
<td class="column-1">Fibroniks Modern Family</td><td class="column-2">$199.00</td><td class="column-3">$497.50</td>
</tr>
<tr class="row-10">
<td class="column-1">Fibroniks Turbo Pack</td><td class="column-2">$339.00</td><td class="column-3">$847.50</td>
</tr>
<tr class="row-11">
<td class="column-1">Fibroniks ZOOM</td><td class="column-2">$19.00</td><td class="column-3">$47.50</td>
</tr>
<tr class="row-12">
<td class="column-1">Wibroniks Unlimited</td><td class="column-2">$72.00</td><td class="column-3">$179.00</td>
</tr>
</tbody>
</table>
<p> </p>
<h2 class="tablepress-table-name tablepress-table-name-id-40" id="tablepress-40-name">ZOL New Top Up Prices (Effective 1 April 2019)</h2>
<table aria-labelledby="tablepress-40-name" class="tablepress tablepress-id-40" id="tablepress-40">
<thead>
<tr class="row-1 odd">
<th class="column-1">Top-up Name</th><th class="column-2">Base US$</th><th class="column-3">RTGS$</th>
</tr>
</thead>
<tbody class="row-hover">
<tr class="row-2 even">
<td class="column-1">Fibroniks 1GB</td><td class="column-2">$3.00</td><td class="column-3">$7.50</td>
</tr>
<tr class="row-3 odd">
<td class="column-1">Fibroniks 2GB</td><td class="column-2">$5.00</td><td class="column-3">$12.50</td>
</tr>
<tr class="row-4 even">
<td class="column-1">Fibroniks 5GB</td><td class="column-2">$10.00</td><td class="column-3">$25.00</td>
</tr>
<tr class="row-5 odd">
<td class="column-1">Fibroniks 10GB</td><td class="column-2">$19.00</td><td class="column-3">$48</td>
</tr>
<tr class="row-6 even">
<td class="column-1">Fibroniks 25GB</td><td class="column-2">$40.00</td><td class="column-3">$100</td>
</tr>
<tr class="row-7 odd">
<td class="column-1">WiBroniks 5GB</td><td class="column-2">$6.00</td><td class="column-3">$15</td>
</tr>
<tr class="row-8 even">
<td class="column-1">WiBroniks 10GB</td><td class="column-2">$12.00</td><td class="column-3">$29</td>
</tr>
<tr class="row-9 odd">
<td class="column-1">WiBroniks 25GB</td><td class="column-2">$20.00</td><td class="column-3">$49</td>
</tr>
<tr class="row-10 even">
<td class="column-1">WiBroniks 35GB</td><td class="column-2">$23.00</td><td class="column-3">$57</td>
</tr>
<tr class="row-11 odd">
<td class="column-1">WiBroniks 50GB</td><td class="column-2">$36.00</td><td class="column-3">$89.00</td>
</tr>
</tbody>
</table>
<h3>Related:</h3>
<ul>
<li class="entry-title">
<h4 class="entry-title"><strong><a href="https://news.pindula.co.zw/2019/03/17/zol-increases-rtgs-internet-prices/" rel="bookmark">ZOL Increases RTGS$ Internet Prices</a></strong></h4>
</li>
</ul>
<p> </p>
<p><em><strong>More: <a href="https://www.zol.co.zw/price-alignment">ZOL Website</a></strong></em></p>
<p> </p>


<p>Business publication, newZWire, has posted a <strong><a href="https://newzwire.live/monetary-policy-for-dummies-what-does-this-all-mean-for-you/">Monetary policy for dummies</a></strong>, to answer some of the questions on everyone’s mind.</p>
<p>Here’s a short version:</p>
<h3><strong>What d</strong><strong>oes this mean for my deposits?</strong></h3>
<p>Unless of course, you are lucky enough to have one of the FCA Nostro accounts introduced in October 2018 , the money in your bank account is not really in United States dollars. It is RTGS dollars.</p>
<p> </p>
<h3><strong>Do we have a new currency?</strong></h3>
<p>Yes. RBZ still won’t say so explicitly though.</p>
<p> </p>
<h3><strong>Is even legal?</strong></h3>
<p>Not yet. A legal instrument is required to reflect the new policy thrust and the government will issue it.</p>
<p> </p>
<h3><strong>What is the starting exchange rate of this new ‘currency’?</strong></h3>
<p>RBZ governor refused to give a starting rate and said the market will decide, and in any case, the parallel rate is already 3-4 RTGS Dollars to 1 USD. Mangudya expects the rate to go down.</p>
<p> </p>
<h3><strong>Will you be able to walk into a bank and get forex?</strong></h3>
<p>unclear</p>
<p> </p>
<h3><strong>What happens to prices?</strong></h3>
<p>RBZ has said all pricing for domestic transactions will now be in the local RTGS$ currency.</p>
<p>In short, no more charging of domestic goods and services in foreign currency.</p>
<p> </p>
<h3><strong>What about essential imports?</strong></h3>
<p>The RBZ will still allocate forex for these separately from the interbank foreign currency market. Essential imports include medicines, fuel, electricity, cooking oil and water treatment chemicals.</p>
<p> </p>
<h3><strong>How will the RBZ fund these?</strong></h3>
<p>Funds retained from exporters.</p>
<p> </p>
<p><em><strong>More: </strong></em><a href="https://newzwire.live/monetary-policy-for-dummies-what-does-this-all-mean-for-you/"><em><strong>NewZWire</strong></em></a></p>


What The New RTGS Dollars Mean For You

<p><img alt="" class="aligncenter size-full wp-image-79331" decoding="async" height="452" loading="lazy" sizes="(max-width: 755px) 100vw, 755px" src="https://t792ae.c2.acecdn.net/wp-content/uploads/2019/02/John-mangudya-Monetary-statement-policy-2019.jpeg" srcset="https://news.pindula.co.zw/wp-content/uploads/2019/02/John-mangudya-Monetary-statement-policy-2019.jpeg 755w, https://news.pindula.co.zw/wp-content/uploads/2019/02/John-mangudya-Monetary-statement-policy-2019-300x180.jpeg 300w, https://news.pindula.co.zw/wp-content/uploads/2019/02/John-mangudya-Monetary-statement-policy-2019-600x359.jpeg 600w" width="755"/></p>
<h3><strong>Question and Answer &amp; Comments Session</strong></h3>
<p>After a question about what happens to the Bond Note following the introduction of RTGS dollars, Mangudya says Bond Notes are part of the RTGS Dollars. Reiterates that RTGS Dollars consist of RTGS Balances, Bond Notes and Bond Coins.</p>
<p>Says Bond Notes are to the RTGS dollars what USD Cash is to Nostro balances.</p>
<hr/>
<p>UZ Economics Professor Ashok Chakravat takes to the podium and reiterates Mangudya’s point that there is no expectation of the exchange rate to increase. The expectation is for it to reduce gradually.</p>
<ul>
<li class="entry-title"><strong><a href="https://news.pindula.co.zw/2019/02/20/rbz-has-worsened-the-problem-global-economist-hankie-comments-on-rtgs-dollars/" rel="bookmark">RBZ Has Worsened The Problem – Global Economist Hankie Comments On RTGS Dollars</a></strong></li>
<li class="entry-title"><strong><a href="https://news.pindula.co.zw/2019/02/20/rtgs-dollar-spells-doom-for-the-economy-biti/" rel="bookmark">RTGS Dollar Spells Doom For The Economy – Biti</a></strong></li>
<li class="entry-title"><strong><a href="https://news.pindula.co.zw/2019/02/20/frequently-asked-questions-faq-on-rtgs-dollars/" rel="bookmark">Frequently Asked Questions (FAQ) On RTGS Dollars</a></strong></li>
<li class="entry-title"><strong><a href="https://news.pindula.co.zw/2019/02/20/how-people-reacted-to-introduction-of-rtgs-dollars/" rel="bookmark">How People Reacted To Introduction Of “RTGS Dollars”</a></strong></li>
<li class="entry-title"><strong><a href="https://news.pindula.co.zw/2019/02/20/download-monetary-policy-statement-delivered-by-john-mangudya-20-february-2019/" rel="bookmark">Download: RBZ Monetary Policy Statement PDF – February 2019</a></strong></li>
</ul>
<blockquote>
<h4><strong>Mangudya responds to questions below:</strong></h4>
<p>We are taking the role of ensuring that the value of money is restored instead of leaving that to the parallel market. The variable that is critical to us is inflation. The best way to preserve value for money is to ensure that foreign currency is available and that the forex rate is stable.</p>
<p>Right now the value of money is being eroded by the parallel market.</p>
<p>If we continue with 1:1, the money will be eaten by inflation, which is caused by the pass-through effects of the parallel exchange. The best way to restore value of money is therefore to ensure that we manage inflation and the stability of the exchange rate.</p>
<p>if the rate goes down from 4 to 2.5 it means we are preserving the value of money.</p>
<p>Right now we are so encouraged by the fact that the fiscal side of the equation is ok. Because of the measures we took.</p>
<p>Our target for the rate even though we have left it at willing buyer willing seller we manage runaway inflation in a couple of ways:</p>
<ul>
<li>we have lines of credit to stabilise exchange rate</li>
<li>the interbank will provide foreign currency to bonafide transactions not for the purposes of funding foreign currency accounts.</li>
<li>we will be watching those who are attempting to manipulating the rates. Our Anti-money laundering monitoring will check on those with too much money in their accounts. We will monitor in terms of the laws in Zimbabwe.</li>
</ul>
<p>We don’t expect a runaway rate of the exchange rate. We expect the exchange rate to go down.</p>
<p>We have formalised the way to buy foreign currency so that people don’t do it illegally.</p></blockquote>
<hr/>
<p>Academic, Professor Ashok Chakravat praises the RBZ for taking a brave step in floating the rate. The rate will not be determined on the <strong>Interbank Foreign Exchange Market</strong></p>
<p><strong>Mandiwanza Asks if there’s an indication of the rate since the RBZ does not control the rate now?</strong></p>
<p>The Question that keeps coming is <strong>“What is the starting rate?”</strong></p>
<p><strong>Question: Do we have a currency now?</strong></p>
<hr/>
<h3><strong>Forex Retention</strong></h3>
<p>Essential imports shall continue to be made available through letters of credit and allocations by the Forex Allocation Committee.</p>
<p>Gold forex retention has been kept at 55% for large scale gold producers and small scale producers. All other minerals retain 50%. So, RBZ has resisted calls by gold miners to increase the amount of export earnings they can keep. They had pushed for up to 80%. <em>(by </em>newZWire<em>)</em></p>
<p>Tobacco and cotton growers will now get 30% of their crop sales in foreign currency. Tobacco merchants will retain 80% of their earnings. <em>(by </em>newZWire<em>)</em></p>
<p> </p>
<h3><strong>Euro MasterCard and VISA EMV Compliance</strong></h3>
<ul>
<li>80% of the cards in the country are now EMV compliant</li>
<li>All cards should be compliant by 31 March 2019</li>
</ul>
<p> </p>
<h3><strong>Cyber Risk Management</strong></h3>
<ul>
<li>Financial services providers are increasingly exposed to cyber attacks which are sophisticated.</li>
<li>Players need to update their cybersecurity services, and IT systems to fight cyber attacks, and submit these to RBZ.</li>
</ul>
<h3><strong>Anti-Money Laundering</strong></h3>
<ul>
<li>RBZ will place focus to ensure compliance by players to ensure that money-laundering is dealt with.</li>
<li>RBZ calls upon all stakeholders to help fight money -laundering.</li>
</ul>
<p> </p>
<h3><strong>IFRS Accounting System</strong></h3>
<p>Banks will be publicising their 2018 financials on 31st March 2019 based IFRS accounting system.</p>
<p> </p>
<h3><strong>RTGS Dollars (new currency)</strong></h3>
<div class="tweet-body js-tweet-body">
<p class="js-tweet-text tweet-text with-linebreaks" lang="en">RTGS, bond notes and coins to be immediately denominated as ‘RTGS Dollars’. The legal instrument giving effect to this has been prepared and will be gazetted soon</p>
<div class="js-card-container">“RTGS dollars have become one of the currencies in the currency bucket of the multi-currency system of the economy”</div>
</div>
<p>The RTGS dollars shall be used by all entities in Zimbabwe for the purposes of pricing of goods and services, debts, accounting and settlement of transactions</p>
<p>We have put in place measures to maintain stability as we establish an interbank foreign exchange market in Zimbabwe to formalise the exchange of Bond and RTGS with USD and other currencies”</p>
<h3><strong>Establishment of Interbank Foreign Exchange Market</strong></h3>
<p>Bureax de change shall be authorised to purchase forex without limits, but shall be limited to sell forex for small transactions such as subscriptions, business and personal travel up to a maximum aggregate daily limit of US$10 000 per bureau de change.</p>
<p>“Interbank foreign exchange market establishment is important to bring sanity in the forex market and to promote exports. We considered the implications – social, accounting, legal”</p>
<p>The parallel pricing needs to correct the distortions in the market. Monetary policy statement seeks to correct that.</p>
<p>“Redollarisation of the economy will move the economy into depression. The evidence is that those charging in forex have experienced reduced demand for their products. Most have had to revert to pricing in RTGS and bond notes at the parallel market rate”</p>
<p>“Majority of transactions in the market are being conducted in electronic form and bond notes but at the parallel market rate.”</p>
<h3><strong>Foreign Currency Deposits Since October 2018</strong></h3>
<p>“Separation of Nostro and RTGS FCA has had a very positive effect”. 87.6% growth in deposits</p>
<p>“Foreign Exchange Premiums on the parallel market have increased from 3 – 4 and has had negative effects on inflation and increases the YoY levels”</p>
<p>“We have witnessed significant changes since the last monetary  statement in October 2018 ”</p>
<p> </p>
<p><strong>1440hrs:</strong> RBZ Governor John Mangudya Start presentation</p>


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