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Investors scared of investing and losing money in corrupt Zimbabwe

HARARE, November 8 (The Source) – The Zimbabwe Investment Authority (ZIA) says the perception of Zimbabwe as a highly corrupt country, coupled with economic and political instability make it difficult to attract foreign direct investment (FDI). Chief executive Richard Mubaiwa, told a government sponsored stakeholders workshop on image building that …

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Explained: How Zimbabwe Government Raided Citizen Bank Accounts and Stole US Dollar Balances and Now Wants to Replace with Worthless #BondNotes

Zimbabwe Government Raided Citizen Bank Accounts and Stole US Dollar Balances and Now Wants to Replace with Worthless #BondNotes How the Zimbabwe government stole the depositors US dollars in banks It is heartbreaking that the Zimbabwe government has, once again, pounced on property rights, this time, by seizing bank deposits …

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Panicking Zimbabwe depositors rush to withdraw money after Mugabe orders the introduction of new currency bond notes

Panicking Zimbabwe depositors rush to withdraw money after Mugabe orders the introduction of new currency bond notes Panicky depositors rushed to withdraw their money yesterday after government’s promulgation of Statutory Instrument (SI) 133 of 2016 to legalise the introduction of bond notes, with legal experts describing President Robert Mugabe’s move …

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Standard Bank Zimbabwe Warns of Delays Paying Depositors

Depositors with Standard Bank Group Ltd.’s Zimbabwean unit may face delays when making withdrawals as the country’s currency shortage deepens, according to updated terms and conditions sent to customers with a letter dated Nov. 1, a copy of which was obtained by Bloomberg News. Stanbic Bank Zimbabwe also reserves the …

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Mugabe uses presidential powers to make bond notes legal tender

Mugabe uses presidential powers to make bond notes legal tender President Mugabe has used his presidential powers to gazette a law making the bond notes legal tender. JOHANNESBURG – Zimbabwe’s President Robert Mugabe has used his presidential powers to give legal force to unpopular new banknotes. The move is almost …

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