RBZ Licenses 26 New Bureaux de Changes: Here’s A List Of Them

The Reserve Bank of Zimbabwe has licensed a further 26 Bureau de changes in a move that will increase the number of participants in the Interbank Foreign Currency Exchange Market. In February, the central bank introduced this auction market where organisations and individuals can buy and sell RTGS Dollars and US Dollars at the prevailing market-determined rate. Here are the 26 Bureau de changes as reported by DailyNews:

• Fredex Financial Services,
• Getbucks Microfinance Bank,
• MyCash Financial Services,
• Access Finance (Pvt) Ltd,
• FMC Finance (Pvt) Ltd,
• Transformation Financial Services,
• Elizabeth Florist (Pvt) Ltd t/a TSD Bureau de Change,
• Zimbabwe Posts (Private) Limited,
• Quest Financial Services (Pvt) Ltd,
• Proex Bureau de Change,
• Zimexpress (Pvt) Ltd
• Fungioliv Investments.

Other institutions also include

• Kwik Forex,
• Campion Forex Services t/a Hand2hand Transfers,
• Direct Connect Financial Services,
• Stalrett (Pvt) Ltd, Julisim (Pvt) Ltd,
• Success Micro-finance Bank Limited,
• Send Money Home (Pvt) Ltd,
• Kuva Sanchez,
• Sahara Forex Bureau Pvt. Ltd,
• Express Financial Services,
• Easylink Money Transfer (Pvt) Ltd,
• Linsa Investments t/a Bate Bureau de Change
• Kaah Financial Services.

Apart from Bureau de changes, banks are the other agencies that are involved in the trading of currencies in the Interbank Foreign Currency Exchange Market. The Interbank market has of late been struggling to keep the value of the RTGS dollars from falling as it’s now trading at 1 US Dollar:4.2 RTGS Dollar from the initial price of 1 US Dollar:RTGS $2.5