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Zimbabwe: FCA Account Holders Fail to Withdraw Cash

Individuals with Nostro foreign currency accounts (FCAs) in Zimbabwe are failing to withdraw US dollars from banks, a development which undermines public confidence and trust in the financial system. FCA holders with Zimbabwean banks have expressed apprehension over what they fear could lead to a raid on their funds by …

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Zimbabwe: Broke Govt Splurges Millions On Ambassadors’ New Cars

The cash-strapped Zimbabwe government has splurged millions to purchase top-of-the-range vehicles for nearly 50 ambassadors posted across the globe when the State is failing to pay agitated civil servants a living wage. Foreign Affairs Minister Sibusiso Moyo revealed Wednesday before the Parliamentary Portfolio Committee on Foreign Affairs that all ambassadors …

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