Business

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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Breaking News: Zimbabwe Issues Law to Issue Bond Notes

Zimbabwe’s Mugabe Issues Law to Issue Bond Notes By Godfrey Marawanyika (Bloomberg) — Zimbabwean President Robert Mugabe has used his presidential powers to amend the central bank’s regulations to allow the issuance of bond notes, effective immediately; authorities expect the move to ease dollar shortages. In a statutory instrument released …

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