Yesterday we reported on the lack of coverage for USD deposits by the Deposit Protection Corporation (DPC). And a lot of people weren’t too surprised that this provision was not set by the Reserve Bank of Zimbabwe (RBZ) and Ministry of Finance.
While that gap exists in the banking sector, the Reserve Bank announced interest rates for savings deposits including USD. Yeah… if you were to tell anyone who isn’t familiar with Zimbabwe that this is the way we exist they wouldn’t believe you.
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SI 127 has been the talk of the town and for good reason. The Statutory Instrument is going to increase prices in ZWL$ particularly because everyone will be juxtaposing the “official rate” with the parallel market rate.
One week after SI 127 and well there are no prizes for anyone. Because experts, pundits and even armchair economists were all right about the effects of the statutory instrument.
ZIMRA recently gave a grace period for the importation of cars that are 10 years or older. Now, this comes after the ban the govt instituted in April 2021 which leads us to believe it’s all about the revenue dip ZIMRA was experiencing on its end.
Zimbabwe’s Cannabis grower’s licence is priced way too high and this is keeping the country from a rapidly expanding and lucrative industry.