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JOHANNESBURG (Reuters) – Africa’s biggest pay-TV group MultiChoice debuted on the Johannesburg Stock Exchange on Wednesday with shares opening at 95.50 rand, giving the company a market capitalisation of 42 billion rand ($3.03 billion). South [...]

ABUJA (Reuters) – Nigerian President Muhammadu Buhari won a second term at the helm of Africa’s largest economy and top oil producer, the electoral commission chairman said on Wednesday, following an election marred by delays, [...]

The employers of the Zimbabwean man who was ‘resurrected’ from the dead by Pastor Alph Lukau have spoken out saying they are shocked by his antics. The man has been identified by Eyewitness News as Brighton (29) who works at timber a company in Pretoria. The company, Vincent Amoretti PTY LTD, said on Tuesday the […]

Source: JUST IN: RBZ sets forex priority list | The Herald February 27, 2019

Dr Mangudya

Tawanda Musarurwa
The Reserve Bank of Zimbabwe (RBZ) has set a prioritization list for firms and/or entities that will be able to access foreign currency at the new inter-bank foreign exchange market. Announcing the Monetary Policy statement last week, RBZ governor Dr John Mangudya announced the introduction of an inter-bank foreign exchange market. 

And the governor later added that the majority of foreign currency will be allocated for the productive sectors of the economy. 

“70 percent of the foreign currency will be utilised for productive sectors’ imports and requirements, while 30 percent will go to other things. You cannot have US$5 million going towards purchasing of a private jet at the expense of companies like Delta, Dairibord and the like,” said Dr Mangudya. 

He added that, “Companies need to boost production, because the floating of the US dollar alone will not enhance productivity.”

More to follow…

The post JUST IN: RBZ sets forex priority list  appeared first on Zimbabwe Situation.

Source: JUST IN: RBZ sets forex priority list | The Herald February 27, 2019

Dr Mangudya

Tawanda Musarurwa
The Reserve Bank of Zimbabwe (RBZ) has set a prioritization list for firms and/or entities that will be able to access foreign currency at the new inter-bank foreign exchange market. Announcing the Monetary Policy statement last week, RBZ governor Dr John Mangudya announced the introduction of an inter-bank foreign exchange market. 

And the governor later added that the majority of foreign currency will be allocated for the productive sectors of the economy. 

“70 percent of the foreign currency will be utilised for productive sectors’ imports and requirements, while 30 percent will go to other things. You cannot have US$5 million going towards purchasing of a private jet at the expense of companies like Delta, Dairibord and the like,” said Dr Mangudya. 

He added that, “Companies need to boost production, because the floating of the US dollar alone will not enhance productivity.”

More to follow…

The post JUST IN: RBZ sets forex priority list  appeared first on Zimbabwe Situation.