The Reserve Bank of Zimbabwe (RBZ) says it is working on ways to make sure that those receiving foreign currency through remittances get it in local currency, Zimbabwe Gold (ZiG).
Speaking on HStv, RBZ deputy director William Mamhimanzi said remittance money is fueling black market hence the need to make sure that recipients get it in local currency.
“When somebody receives money from external sources, relatives outside.
“They immediately get it in hard currency and the money doesn’t get into the banking system. So we are looking at ways to tap that money into the banking sector,” he said.
Zwnews
Kaizer Chiefs coach Cedric Kaze has urged patience and composure after the club’s poor run… Read More
Kaizer Chiefs have suffered a major setback with two experienced players injured. Both Brandon Petersen… Read More
Premier Soccer League giants Kaizer Chiefs have reportedly set their sights on Nigeria international goalkeeper… Read More
Kaizer Chiefs’ preparations for the Soweto Derby were severely disrupted before kick-off, a reality that… Read More
Kaizer Chiefs registered a second successive victory in the CAF Confederation Cup group stages after… Read More
Across Africa, vehicle buyers and importers are discovering a new way to connect — through … Read More